Form 8610 Form 8610 Annual Low-Income Housing Credit Agencies Report

Form

8610

Uepanrnenr of t h m Treasury
Internal Revenue C,omsre

Annual Low-Income Housing
Credit Agencies Report

-

b Under section 42(1)(3) of the lnternal Revenue Code

Name and address of housing credit agency

I

Employer Identification

I

Check box if amended report.

number of

agency

.b

Reconciliation of Attached Forms and Schedules
1 Enter the number of attached Forms 8609 used to allocate credit In 2006 . . . . . .
2a Enter the number of attached Forms 8609 for credits (1) allocated prior to 2006 and (2)
attributable under section 4Z(h)(4) to projects financed by tax-exempt bonds
. . . . .
b Enter the total dollars allowed to those projects described in Za(2) above b ................
3 Enter the number of attacbed Schedules A (Form 8610) reporting 2006 carryover allccations
d
1,2a, and 3. . . . . . . .
4 Total number of attached forms and schedules. ~ d lines

Reconciliation of Credit Ceilings and Allocations (see instructions)
5a Alabama, Louisiana, and Mississippi ONLY-additional housing credit dollar amount: enter
the lesser of $18.00 multiplied by the portLon of the state's population in the GO Zone or
the amount allocated in the GO zone in 2006 . . . . . . . . . . . . . . . . .
b Florida and Texas ONLY-additional housing credit dollar amount: enter
13.500,OOO. . . . . . . . . . . . . . . . . . . . . .
c Enter the greater of $1.90 mult~pliedby the state's population or $2,190,000
d Add lines 5b and 5c. . . . . . . . . . . . . . . . . . . . . . . . .

131
1 4 1

I-

. . . .
. . . . . .

5e

. .

59

Enter the amount of credit ceiling returned in 2006 from allocations prior to 2006
f Enter the amount (if any) allocated to the state from the 2006 National Pool
g Add lines 5d, 5e, and 5f . . . . . . . . . . . . . . . . . . . .
e

I+-

5h

h Enter the unused state housing credtt ceiling (if any) from the 2005 Form 8610, line 9
.
i Total state housing credit ceiling for 2006. Add lines 5a, 59,and 5h . . . . . . .
j Enter the total amount Included in line 5i al!ocated during 2006 to qualified nonprofit
organizations under section 42(h)(5) b $ ......................................................

6a Enter the tota! dollar amount of credits from Forms 8609 used to allocate
6a
credit in 2006 . . . . . . . . . . . . . . . . . . . . .
b Enter !he total dollar amount of credits from Schedules A (Form 861 01,
6b
line 5 . . . . . . . . . . . . . . . . . . . . . . . .
c Total credits allocated during 2006. Add lines 6a and 6b (cannot exceed line 51). . .
d Subtract line 5a from line 6c . . . . . . . . . . . . . . . . . . . . . .
7 Enter the smaller of l~ne5h or line 6d . . . . . . . . . . . . . . . . . .
8 Subtract line 7 from line 6d . . . . . . . . . . . . . . . . . . . . .
9 State's unused housing credit ceiling carryover t o 2007. Subtract line 8 from line 59.If
zero or less, enter zero . . . . . . . . . . . . . . . . . . . . . . .
10 Unused 2005 carryover assigned to 2007 National Pool. Subtract line 7 from line 5h .
m>liance
With Low-Income Housinq e
sR
instructions)

-

5f

-

1

I

6c
6d
7

-

-

8
9
30

I1

Does the state's qualified allmation plan in effect for 2006 include compliance monitoring procedures as
required in section .IZ(m)(l)(B)(iii)and Regulat~onssection 2.42-5(a)(2), ~ncludtngmonitoring for habitability
standards through regular site visits? (If"No,"attach an explanation.) . . . . . . . . . . . .

12

Has the housing credit agency, for 2006 (or its most recent 12-month operating period}, complied with
ajlocation plan?
all applicable requirements under the compliance monitor~ngprocedures in its qual~f~ed
{If "No," attach an explanation.) . . . . . . . . . . . . . . . . . . . . . . . . .

t3

Has the housing credit agency, for 2006 (or its most recent 12-month operating period), complied with

Yes

z

the requirements of ~ t smonitoring prccedures to fulhll its not~ficationof noncompliance responsib~lities
under Regulat~onssection 1.42-5(ej?(If "No,"attach an explanation.) . . . . . . . . . . . .
14a 1
14a Number of projects subject to monitoring lor which all buildings were placed in service before 2004
I
b Number of projects on line 14a that have had on-site inspections of all buildings in the last
3 calendar years . . . . . . . . . . . . .
. . . . . . . . . . . .
c Number of projects on line 13a for which at least 20% of the low-incomeunits have been ~nspected
and revbewed in the last 3 calendar years as requrred by Regulations section 1.42-5(c)(2)(ri)(B) ,
15a Number of projects for whlch the last buildlng was placed in servlce In 2004 . . . . .
b Number of projects on tine t5a for which all butldir~gshave had on-ate inspections . . .
c Number of projects on line 15a for which at least 20% of the low-lncome units have been
. . . . . .
inspected and reviewed as required by Regulations section :.42-5(~)(2)(il)(A)
15c
For Papemork Reduction Act Notice, see instructions.
Gat. No. 63482F

1

13 No

Yes

Ho

yes

NO

1

Form

8610 (2006)

Form 8610 12006)
,
,

Page

f 6a Number of projects for which the last budding was placed In service in 2005

2

.

b Number of projects on line 16a for which all buildings have had on-site inspections
c Number of projects on I~ne16a for which at least 20% o! the low-income units have been
inspected and reviewed as required by Regulations section 1.42-5(c)(2)(ii)(A). . . .
.

.

Under penalties of perjury, 1 declare that I have examined thls report and accompanying forms, xhedules, binding agreements. and election statemants, and other
attachments, and to the best of my knowledge and belief, they are true, correct, and complete.

...................................................
--------........
Signature of Author~r~ny
Otlrcial

General Instructions
Section references are to the Internal
Revenue Code unless otherwise noted.

What's New
The population component of the state
houslng credit ceiling for 2006 is the
greater of $7.90 times the state's

population or $2.1 90,000.
in addition, the Gulf Opportunity (GO)
Zone Act of 2005 made it possible for
the states of Alabama. Louisiana,
Mississippi, Florida, and Texas to
increase their housing credit ceiling. The
guidelines for these increases are
explained in Credit ceiiing increases due
to GO Zone Act of 2005, under Purpose
of Fonn, below.

Purpose of Form
Housing credit agencies use Form 8610
to transmit Forms 8609, Low-Income
Housing Credit Allocation and
Certificat~onand Schedules A (Form
8610) to the IRS. Form 8610 is also used
to report the dollar amount of housing
credits allocated during the calendar
year. The housing credit agency must not
allocate more credits than it is authorized
to allocate during the calendar year.
Generally, the state housing credit
ceil~ngfor any state is the sum of;
I . The larger of $2.1 90,000 w $1.90
multiplid by the state's population,
2. The amount of state housing credit
ceiling returned in 2006 from allocations
made prlor to 2006,
3. The amount, if any, allocated to the
state from the Natlonal Pool, plus
4 . The unused state housing credit
celllng, if any. for 2005.
See Regulations section 1.42-14 for
more information.
Credit ceiling increases due to GO
Zone Act of 2005. In the following
situat~ons.the housing credit ceiling for
certarn states will Increase.
For 2006. 2007, and 2008, the housing
credit ceiling for the states of Alabama,
Louisiana, and Mississippi is increased
by the lesser of $1 8 00 multiplied by the
state's population In the Gulf
Opportunity (GO) Zone or the housing
credit dollar amount allocated to
buildings located in the state's GO Zone.
See L ~ n e5a. on page 2.

.........

...............................s.........
Punt Name and Title

For 2006, the housing ce~lingcredit for
the states of Florida and Texas is
increased by $3,500,000, See Line 56,
on page 3.
See section 1400N(c) for more
information.

Who Must File
Any housing c r d i t agency authorized t o
make an allocation of the credit (even if
no credit is actually allocated) on a Form
8609 or carryover allocation reported on
a Schedule A (Form 8610) to an owner
of a qualified low-income building durlng
the calendar year must complete and f~le
Form 8610. In states with multiple
housing credit agencies (including states
with constitutional home rule cities), the
agencies must cwrdinate arid file one
Form 8610.
If a housing credit agency has granted'
any project relief for carryover
allocations discussed in section 5 of
Rev. Proc. 95-28, 1995-1 C.B. 704, the
agency must attach to Form 8610 a list
of the projects for which it has approved
relief. The housing credit agency should
list only those projects that had received
its approval of the carryover allocation
reltef since the agency last flled Form
8610.

When To File
File the 2006 Form 8610 with
accompanying Forms 8609 (with only
Part I completed) and Schedules A
(Form 8610) b y February 28, 2007.

Where To File
File Form 8610 and attached forms and
schedules with,
Internal Revenue Servlce
P.O. BOX 331
Ann: L[HC Unit, DP 607 South
Philadelphia Campus
Bensalem, PA 19020

Penalty
The $100 penalty under section 6652(j)
applies to any fallure to file Form 8610
when due.

Specific Instructions
Note. The primary housing credit agency
may rely on information provlded by any
constitutional home rule city or local

.... ..------.

housing credit agency under Regulations
section 1.42-1T(c)(3) or (4).
To ensure that Form 8610 is correctly
processed, attach all forms and
schedules to Form 8610 in the following
order.
I . Forms 8609.
2. Schedules A (Form 8610).
3. Listing of projects approved for
carryover allocation relief.

Amended Report
If this is an amended Form 8610, check
the "amended report" box. Use the same
version of the form that was originally
filed (for example, a 2006 Form 8610 to
amend the 2006 report, a 2005 Form
8610 to amend the 2005 report, etc.).
Complete only those lines that are
being amended by entering the correct
information. Attach any additional
documentation necessary to explain why
an amended Form 8610 is being filed.

Part I
Line 1
Enter the total number of Forms 8609
attached to this Form 8610 that were
used to aliocate credit during 2006. Do
not include Forms 8609 issued to
taxpayers that reflect credit allocations
made prlor to 2006 on section 42(h)(l)(€J
or 42(h)(l)(FI carryover allocation
documents.

Line 2a
Enter the total number of Forms 8609
attached to this Form 8610 for:
Credit allocations made prior to 2006
on section 42(h)(l)(€) or 42(h)(l)(F)
carryover allocation documents and
Credits attributable to projects
financed by tax-exempt bonds subject
to volume cap under section 42(h)(4).

Part I1
Line 5a
For 2006, 2007, and 2008, an addit~onal
housing credit amount is available OkLY
to !he states of Alabama, Louisiana, and
Mississippi. The addhtional amount is the
lesser of the following:
1. The total housing credlt dollar
amount allocated by the state housing
credit agency to buildings located in the
state's GO Zone for the calendar year, or
Form

86t 0

1:006)

Form 8670 (2006)

2. $1 8.00 multiplied by the state's
population jn its GO Zone.
When making the calculatim described
in (2) above, use the following frgures for
the state's population In its GO Zone.
Alabarna469,544
Louisiana-3,153,293
Miss~ssippi-1,968,283
See Notice 2006-21, 2006-12 I.R.B. 643,
for more information, includ~nga list of
the counties and parisnes in the GO
Zone and how the state's population in
the GO Zone was determined.
Line 5b

For 2006, an additional housing credit
amount of $3,500,000 1s available ONLY
to Florida and Texas. These states will
enter $3,500,000 on line 5b.
Line 5c

A state's populatron is determined
according to section 1461j). See Notice
2006-22, 2006-11 I.R.B. 593, for
applicable population figures.
Line 58
Do not include on this line allocations
made and returned in the same year.
Line 5f
Enter the "Amount Allocated," if any, for
your state in Rev. Proc. 2006-38,
20013-39 I.R.B. 530.
Line 5i
This is the state housing credit ceiling
available for allocations during 2006.
Line 5j
Not more than 90% of the line 5i
amount is allowed to be allocated to
projects other than qualified low-income
housing projects described in sect~on
42(h)(5)!3i.
Lines 6.a and 6b
Enter on the applicable line the dollar
amount actually allocated during 2006.
Do not include the following.
Credits a:lowed to tax-exempt bond
financed projects under section 42(h)(4).
These credits do not count against the
total state housing ce~l~ng
authorized on
line 51.
Amounts allocated and returned
during the year. unless such amounts
are reallocated by the close of Ihe year.
On line 6a, enter the total amounts
repofled on all Forms 8609, Part I, line
Ib, that are included on l~ne1 of this
Form 8610. On line 6b. enter the total
amounts reported as carryover
allocations that are includd on line 3 of
this Form 8610.

Part Ill
Lines 14a, 15a, and 16a
Do not include buildings no longer
subject to compliance monitoring
because, for example, the buildings are
no longer participating in the low-income
housing credit program.
Line 14a
For bulldings whose compliance periods
ended during the last 3 calendar years.
complete lines 14b and 14c with respect
to the Byear period ending on the date
the compliance period ended. lnclude
buildings frnanced by the Rural Housing
Service and buildings financed with
tax-exempt bonds.

entered on line 15b or line 15c does not
equal the number entered on line 15a,
attach an explanation.
Line 16a

Only include projects for which the last
building was placed in service in 2005.
Include buildings financed by the Rural
Housing Service and buildings financed
with tw-exempt bonds.

Lines 16b and 16c

Take into account all the projects
included on line 16a. See Regulations
section 1.42-5(c)(2)(ii)(A)for deta~ls.
Include bulldings inspected by the Rural
Housing Service under Reguiatlons
sectton 1.42-5(d)(3).

Lines 14b and 14c
Take into account all the projects
included on line 14a. See Regulat~ons
sect~on1.42-5(c)(Z)(ii)(B)for details.
Include bulldings inspectad by the Rural
Housing Sewice under Regulations
section 1-42-5(d)(3).
Caution: Regulations section
?.42-5(~)(2)(ii)(BJ
requires that at least
once every 3 yeam the Agency (or the
Rural Housing Service, if applicable)
condud on-site inspeclions of a//
buildings in each project and, for at leas1
20 percent of each project's low-income
units, inspect the un~tsand review the
low-income certifications, the
documentation supporting the
certifications, and the rent records lor
the tenants in those units. If the number
entered on line 74b or /me 14c does not
equal the number entered on line 14a.
atrach an expianation.

Line 15a
Only include projects for wh~chthe last
buibding was placed in sewice in 2004.
Include buildings financed by the Rural
Housing Service and buildings financed
with tax-exempt bonds.

Lines 15b and 15c
Take into account all the projects
included on line 15a. See Regulations
section 1.42-5(c)(Z)(iI)(A)for details.
lnclude buildings inspected b y the Rural
Housing Service under Regulations
section 1.42-5(d)(3).
Caution: Regulations section
1.42-5(c)(ZJ(ii)(A) requires that, by the end
of the 2nd calendar year following the
year the last building in the project is
placed in service, the Agency (or the
Rurai Housing Service, if applicable)
conduct on-site inspections of all
buildings in each project and, for at least
20 percent of each project's low-mcome
units. inspect the units and vie& the
Iow-income certificaiions, the
documentation supponiflg the
certifications, and the rent records for
the tenants in those units. I f the numbsr

0

finlc?d on recycled paper

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ask for the information on this form to
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You are not required to provide the
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The time needed to complete and file
the following forms will vary depending
on individual circumstances. The
est ~rnatedaverage times are:

Recordkmaping
Learning about
the law o r
the form . .
Preparing and
sending the
form to the lRS

Form 8610

Sch. A
(Form 8610)

, P mln.

2 hr.. 52 mln.

.

#hr

.

2 hr., 17 min.

24 min.

.

2 hr..

9l rnin.

27 min.

9

1'1

If you have cornrnzls concerning the
accuracy of these time estimates or
suggestions for making these forms
simpler, we would be happy to hear
from you. You can write to the lnternal
Revenue Service, Tax Prducts
Coordinating Committee,
SE:W:CAR:MP:T:T:SP, 1111 Constitution
Ave. NW, IR-6406, Washington, UC
20224. Do not send these forms to this
address. Instead, see Where To File on
page 2.