Treasury Gives States Latitude in Compliance with Credit Exchange's 30 Percent Expenditure Requirement

摘要

The Treasury Department has issued preliminary instructions allowing state agencies to use their own methods for verifying project compliance with the low-income housing tax credit exchange program's 30 percent expenditure requirement.rnAn interim final rule published on August 31, 2009, extended the credit exchange disbursement deadline to December 31, 2011, for subawardees who have paid or incurred at least 30 percent of the total adjusted basis in land and depreciable basis by December 31, 2010.