The Treasury Department has issued additional guidance for the low-income housing tax credit exchange program, but the department said it would revise a provision barring the use of subaward funds to pay for land costs in response to industry concerns.rnThe guidance was issued July 9 in the form of frequently asked questions (FAQs).rnThe FAQs cap a subaward at 85 percent of a project's eligible basis as determined at the end of the first year of the credit period, including the basis boost for buildings in high-cost areas.
展开▼
