CHFA has been working diligently to implement the new Low Income Housing Tax Credit (LIHTC) Income Averaging allowance approved by Congress as part of the Consolidated Budget Act of 2018. Over the summer, CHFA held stakeholder forums to review the Income Averaging (IA) guidance available to date, and to solicit input as we prepare our policy recommendations. We appreciate all of the feedback received, and have prepared an FAQ document to summarize several of the topics discussed during those meetings.
Please click here to view those FAQs.
Additionally, we’ve prepared the following draft IA Policy. CHFA’s IA Policy will be included as part of the draft 2019 Qualified Allocation Plan, which will be released later this fall. Input and comments on the QAP, inclusive of this proposed IA policy, will be accepted as part of the normal QAP public hearing and comment process.