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Prepare for how these annual changes will affect income, asset, and eligibility determinations.
Low-income housing tax credit law requires site owners to use HUD’s Section 8 rules regarding income calculations. According to Treasury Regulations §1.42-5(b)(1)(vii), “Tenant income is calculated in a manner consistent with the determination of annual income under Section 8 of the U.S. Housing Act of 1937.”
