Title 47 — Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]

For the purposes of this chapter, the term: (1) “Administrative costs” means the costs of the Department to administer, manage, and monitor the Low-Income Housing Tax Credit Program, including personnel costs. (2) “Department” means the Department of Housing and Community Develop…

(a)(1) There is established a District of Columbia low-income housing tax credit. Subject to available funds, the Department may authorize annually under this chapter total tax credits equal to the credit ceiling allocated to the District of Columbia by the federal Internal Reven…

(a) A taxpayer may receive a District of Columbia low-income housing tax credit with respect to a qualified project; provided, that the Department issues an eligibility statement for that qualified project. (b) The total District of Columbia low-income housing tax credit availabl…

(a) The owner of a qualified project eligible for the District of Columbia low-income housing tax credit shall submit a copy of the eligibility statement issued by the Department with respect to the qualified project at the time of filing the project owner’s state tax return. In …

The Chief Financial Officer or the Department may require the filing of additional documentation necessary to determine the eligibility or accuracy of a tax credit claimed under the provisions of this chapter through the promulgation of regulations.

(a) All or any portion of tax credits issued in accordance with the provisions of this section may be transferred, sold, or assigned. (b) An owner or transferee desiring to make a transfer, sale, or assignment shall submit to the Chief Financial Officer a statement that describes…

(a) The Department, in consultation with the Chief Financial Officer, shall monitor and oversee compliance with the District of Columbia’s Low-Income Housing Tax Credit Program and may promulgate regulations requiring the filing of additional documentation considered necessary to…

Except for unused credits carried forward pursuant to § 47-4803(c) and for credits claimed under regulations promulgated by the Department consistent with the special rule set forth in section 42(f)(2) of the 1986 Internal Revenue Code , as amended and in effect for the taxable y…

The Department may pursue methods of enhancing the efficiency of the District of Columbia low-income housing tax credit program, including, (1) Pursuing opinions from the United States Department of Treasury’s Internal Revenue Service in the form of: (A) General Counsel memoranda…

The Department may charge a user fee equal to up to 1% of the District of Columbia low-income housing tax credits awarded to a qualified project to pay for the administrative costs associated with the establishment of a District of Columbia low-income housing tax credit. The user…

(a) The Mayor shall issue rules to implement the provisions of this chapter. (b) The Chief Financial Officer shall issue rules to implement § 47-4805.