Low Income Housing Tax Credit Compliance and Monitoring
LIHTC Compliance and Monitoring
The Low Income Housing Tax Credit (LIHTC) program is an established affordable multifamily housing program implemented at the federal level. It has proved to be a very successful housing program in Nevada because the financial incentives provided by the Division help developers build or rehabilitate affordable housing that is rented to low income individuals and families.
The Code requires Housing Credit agencies, such as Nevada Housing Division, to include in their annual Qualified Allocation Plan (QAP) a procedure for monitoring LIHTC projects for compliance throughout the compliance period. Therefore, the Division is responsible for monitoring all LIHTC projects within Nevada to ensure compliance with program rules and regulations.