OAR 813-090-0055: Amount of Low-Income Housing Tax Credits

OHCS’s determination of the amount of LIHTCs for a project cannot exceed the amount necessary for the financial feasibility of the project’s residential rental units that are represented by the applicable fraction at the restricted rent requirements specified in the project’s REUA. The amount of LIHTC available shall be an amount equal to the applicable percentage of the qualified basis of each qualified low-income building, as defined in IRC Section 42.