Section 1602 Reporting

Section 1602 - Report of Eligible Basis (OMB Number: 15
Under Section 1602 of the American Recovery and Reinvestment Tax Act of 2009 (Section 1602), state housing credit agencies are eligible to receive Section 160
Credit Allocation for 2009. The state housing credit agency uses the funds to make subawards. The Section 1602 program temporarily fills the gap left by a dimin
retention of jobs and in an increase in the affordable housing supply.
The Recovery Act encourages accountability and transparency in the use of funds. This report on eligible basis is in response; it is required under the Grant Terms
submit the report to [email protected] by July 1 each year until information is complete for all subawards. See the instructions in Section 1602: Reportin
Agency Name
Contact Person
Title

Date of
Subaward

Amount of
Subaward

Name of Project

Total
Housing
Units

Lowincome
units

Certified Eligible
Basis

1602 funds
disbursed to
project

505-0218)
02 Payments to States for Low-Income Housing Projects in Lieu of Low-Income Housing
nished demand for low-income housing tax credits. The payments result in the creation and

s and Conditions, item 8. To complete the report, enter information for each subaward and
ng Requirements for Post-Subaward Compliance.
Contact Phone Number
Contact Email
Date

1602
1602 funds
Date project
disbursement is
disbursed/certified
placed in
≤85% of eligible
eligible basis
service
basis? Y/N