Treasury Department Releases Section 1602 Audits

The Treasury Department’s Office of Inspector General (OIG) recently posted audits of the Section 1602 program for Rhode Island and Arkansas. The American Recovery and Reinvestment Act, a stimulus package signed into law by President Obama in February 2009 in response to the Great Recession, provided in Section 1602 grants to be awarded to states for low-income housing projects in lieu of low-income housing credit allocations.