Federal Low-Income Housing Tax Credit Carryover-Allocation Application is a legal document that was released by the Arkansas Department of Finance & Administration - a government authority operating within Arkansas.
Q: What is the Federal Low-Income Housing Tax Credit?
A: The Federal Low-Income Housing Tax Credit is a tax incentive program that encourages the development of affordable rental housing.
Q: What is a Carryover-Allocation Application?
A: A Carryover-Allocation Application is a request for the allocation of unused Housing Tax Credits from a previous year that can be used in the current year's affordable housing project.
Q: Who can apply for the Federal Low-Income Housing Tax Credit Carryover-Allocation?
A: Developers and sponsors of affordable housing projects in Arkansas can apply for the Carryover-Allocation.
Q: How does the Carryover-Allocation application process work?
A: The application process involves submitting a detailed proposal for the affordable housing project, demonstrating its feasibility and compliance with program guidelines.
Q: What are the benefits of receiving a Carryover-Allocation?
A: Receiving a Carryover-Allocation allows developers to access additional funding for their affordable housing projects, making them financially viable.
Q: Are there any deadlines for submitting the Carryover-Allocation application?
A: Yes, there are usually specific deadlines for submitting the application, which vary depending on the state and program guidelines.
Form Details:
Download a printable version of the form by clicking the link below or browse more documents and templates provided by the Arkansas Department of Finance & Administration.