Enforcement of Three-Year Provision for LIHTC Properties

Resolved that NAHB urge the Internal Revenue Service (IRS) to revise Revenue Ruling 2004-82 to apply its three-year rule provisions only to the period following the end of an extended use agreement, rather than to the entire affordability period of a Low-Income Housing Tax Credit (LIHTC) project.

Further resolved that should the IRS not make this application, NAHB urge Congress to enact legislation to make the necessary revision.

Resolution originally adopted: 2004.10, Resolution No. 11

Committee with primary jurisdiction:

• Multifamily Council Board of Trustees