Form 8610 - Annual Low-Income Housing Credit Agencies Report Page 2
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Form 8610 (2006)
Page
Part III
Compliance With Low-Income Housing Requirements (see instructions) (continued)
16a
16a
Number of projects for which the last building was placed in service in 2005
16b
b
Number of projects on line 16a for which all buildings have had on-site inspections
c
Number of projects on line 16a for which at least 20% of the low-income units have been
inspected and reviewed as required by Regulations section 1.42-5(c)(2)(ii)(A)
16c
Under penalties of perjury, I declare that I have examined this report and accompanying forms, schedules, binding agreements, and election statements, and other
attachments, and to the best of my knowledge and belief, they are true, correct, and complete.
Signature of Authorizing Official
Print Name and Title
Date
housing credit agency under Regulations
For 2006, the housing ceiling credit for
General Instructions
section 1.42-1T(c)(3) or (4).
the states of Florida and Texas is
Section references are to the Internal
increased by $3,500,000. See Line 5b,
To ensure that Form 8610 is correctly
Revenue Code unless otherwise noted.
on page 3.
processed, attach all forms and
See section 1400N(c) for more
schedules to Form 8610 in the following
What’s New
information.
order.
The population component of the state
1. Forms 8609.
Who Must File
housing credit ceiling for 2006 is the
2. Schedules A (Form 8610).
greater of $1.90 times the state’s
Any housing credit agency authorized to
3. Listing of projects approved for
population or $2,190,000.
make an allocation of the credit (even if
carryover allocation relief.
In addition, the Gulf Opportunity (GO)
no credit is actually allocated) on a Form
Zone Act of 2005 made it possible for
8609 or carryover allocation reported on
Amended Report
the states of Alabama, Louisiana,
a Schedule A (Form 8610) to an owner
If this is an amended Form 8610, check
Mississippi, Florida, and Texas to
of a qualified low-income building during
the “amended report” box. Use the same
increase their housing credit ceiling. The
the calendar year must complete and file
version of the form that was originally
guidelines for these increases are
Form 8610. In states with multiple
filed (for example, a 2006 Form 8610 to
explained in Credit ceiling increases due
housing credit agencies (including states
amend the 2006 report, a 2005 Form
to GO Zone Act of 2005, under Purpose
with constitutional home rule cities), the
8610 to amend the 2005 report, etc.).
of Form, below.
agencies must coordinate and file one
Complete only those lines that are
Form 8610.
being amended by entering the correct
Purpose of Form
If a housing credit agency has granted
information. Attach any additional
any project relief for carryover
Housing credit agencies use Form 8610
documentation necessary to explain why
allocations discussed in section 5 of
to transmit Forms 8609, Low-Income
an amended Form 8610 is being filed.
Rev. Proc. 95-28, 1995-1 C.B. 704, the
Housing Credit Allocation and
agency must attach to Form 8610 a list
Certification and Schedules A (Form
Part I
of the projects for which it has approved
8610) to the IRS. Form 8610 is also used
relief. The housing credit agency should
Line 1
to report the dollar amount of housing
list only those projects that had received
credits allocated during the calendar
Enter the total number of Forms 8609
its approval of the carryover allocation
year. The housing credit agency must not
attached to this Form 8610 that were
relief since the agency last filed Form
allocate more credits than it is authorized
used to allocate credit during 2006. Do
8610.
to allocate during the calendar year.
not include Forms 8609 issued to
taxpayers that reflect credit allocations
Generally, the state housing credit
When To File
made prior to 2006 on section 42(h)(1)(E)
ceiling for any state is the sum of:
or 42(h)(1)(F) carryover allocation
1. The larger of $2,190,000 or $1.90
File the 2006 Form 8610 with
documents.
multiplied by the state’s population,
accompanying Forms 8609 (with only
Part I completed) and Schedules A
2. The amount of state housing credit
Line 2a
(Form 8610) by February 28, 2007.
ceiling returned in 2006 from allocations
Enter the total number of Forms 8609
made prior to 2006,
attached to this Form 8610 for:
Where To File
3. The amount, if any, allocated to the
Credit allocations made prior to 2006
state from the National Pool, plus
File Form 8610 and attached forms and
on section 42(h)(1)(E) or 42(h)(1)(F)
4. The unused state housing credit
schedules with:
carryover allocation documents and
ceiling, if any, for 2005.
Internal Revenue Service
Credits attributable to projects
See Regulations section 1.42-14 for
P.O. Box 331
financed by tax-exempt bonds subject
more information.
Attn: LIHC Unit, DP 607 South
to volume cap under section 42(h)(4).
Credit ceiling increases due to GO
Philadelphia Campus
Part II
Zone Act of 2005. In the following
Bensalem, PA 19020
situations, the housing credit ceiling for
Penalty
Line 5a
certain states will increase.
For 2006, 2007, and 2008, an additional
The $100 penalty under section 6652(j)
For 2006, 2007, and 2008, the housing
housing credit amount is available ONLY
applies to any failure to file Form 8610
credit ceiling for the states of Alabama,
to the states of Alabama, Louisiana, and
when due.
Louisiana, and Mississippi is increased
Mississippi. The additional amount is the
by the lesser of $18.00 multiplied by the
Specific Instructions
lesser of the following:
state’s population in the Gulf
1. The total housing credit dollar
Opportunity (GO) Zone or the housing
Note. The primary housing credit agency
amount allocated by the state housing
credit dollar amount allocated to
may rely on information provided by any
credit agency to buildings located in the
buildings located in the state’s GO Zone.
constitutional home rule city or local
state’s GO Zone for the calendar year, or
See Line 5a, on page 2.
8610
Form
(2006)
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