Assessment of the LIHTC Program After 15 Years

Forms and Documents

Document Name	Status
LIHTC Study OMB Qs responses_Abt_06 17 2011 (3).docx Supplementary Document	2011-07-05
LIHTC Study OMB Qs responses_Abt_06.28.2011_Supplemental.docx Supplementary Document	2011-07-05
C-CHI-01025, TO001_LIHTC Summary Response.docx Supplementary Document	2010-11-09
OMB Reporting Costs - Electronic Permitting Census.xls Supplementary Document	2010-11-09
Part B.docx Supporting Statement B	2010-11-09
LIHTC-OMB.doc Supporting Statement A	2010-11-09

IC Document Collections

IC ID	Document Title	Status
195201	Assessment of the LIHTC Program After 15 Years Other-Owner Survey with justification	New

ICR Details

OMB Control No: 2528-0269	ICR Reference No: 201011-2528-005
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: HUD/PD&R	Agency Tracking No:
Title: Assessment of the LIHTC Program After 15 Years
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 07/06/2011
	Date Received in OIRA: 02/01/2011
Terms of Clearance: The information collected under this approval number is qualitative in nature and for internal use.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2014	36 Months From Approved
Responses	40	0	0
Time Burden (Hours)	40	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: HUD has commissioned this study, an Assessment of the LIHTC Program After 15 Years, in order to understand whether projects that reach the 15 Year mark are remaining affordable, what types of properties are or are not remaining affordable, and what major factors contribute to these outcomes. The answers to these questions will help inform future policy and program design for affordable housing nationwide. HUD believes that this study will also be of great interest to people actively working with tax credits, including syndicators, owners, investors, financial institutions, and public agencies. The majority of LIHTC properties have complex ownership structures that include a managing general partner or "owner" and limited partners who buy ownership shares in the property so that they can take the tax credit and whose interests are represented by the syndicator of the tax credits. Some syndicators are for-profit companies, while others are entities set up to find limited investors for projects sponsored by non-profits. In addition, some projects are sold directly to large investors, with Fannie Mae an important example. This study is designed to synthesize data through three main sources involved with the LIHTC Program to better assess the possible fates of tax credit units that reach the 15 year mark. The first source is a review of data from state tax credit allocation agencies. These data, submitted regularly to HUD for inclusion in the HUD National LIHTC Database, will provide the number of tax credit properties placed in service as well as basic characteristics and where available, locational data on tax credit properties. Second are in-depth interviews and site visits with approximately 4-5 syndicators active in the earliest years of the LIHTC Program. Third is a survey of approximately 40 tax credit owners. Owner entities play key roles in the maintenance and disposition of tax credit properties, making the final decisions on next steps with a property once it reaches the 15 year mark. Through the owner survey, project staff will learn more about the decision process undertaken when LIHTC projects reached the 15 year mark, gathering information on whether projects were sold and whether projects continued as affordable rental housing.

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Authorizing Statute(s): US Code: 12 USC 1701-z-1 Name of Law: Research and demonstrations
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 26271	05/11/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 4931	01/27/2011
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Assessment of the LIHTC Program After 15 Years

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	40	0	0	40	0	0
Annual Time Burden (Hours)	40	0	0	40	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: HUD has commissioned this study, an Assessment of the LIHTC Program After 15 Years, in order to understand whether projects that reach the 15 Year mark are remaining affordable, what types of properties are or are not remaining affordable, and what major factors contribute to these outcomes. The answers to these questions will help inform future policy and program design for affordable housing nationwide. HUD believes that this study will also be of great interest to people actively working with tax credits, including syndicators, owners, investors, financial institutions, and public agencies.

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Annual Cost to Federal Government: $499,714

Does this IC contain surveys, censuses, or employ statistical methods? Yes Part B of Supporting Statement

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 02/01/2011

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