This course is designed for beginner level tax credit managers. It is a great pre-cursor to the SHCM prep course as well as the advanced level tax credit course.
This training will provide participants with an overview of the Tax Credit Program. We will explore the governing rules, the role of the owner investor(s) and state agency, key terms including, but not limited to, the building identification number (BIN), eligible basis, the minimum set aside, target fraction, applicable fraction, qualified basis, placed in service, as well as discuss issues relating to income limits, maximum gross rent, student status, and determining gross annual income. We will also discuss rules specific to the tax credit program, including the vacant unit rule and the next available unit rule, and what a monitoring agency expects from owners regarding documenting the eligibility of residents.
Please bring a calculator.