Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE47. HOUSING AND COMMUNITY DEVELOPMENT |
PART355. ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM |
SUBPARTB. AFFORDABLE HOUSING TAX CREDIT ALLOCATIONS |
§355.201. Authority to Allocate Affordable Housing Tax Credits
Latest version.
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For any State fiscal year, an Agency may reserve and/or allocate Affordable Housing Tax Credits in an amount not to exceed the Agency Affordable Housing Tax Credit Ceiling. Any Affordable Housing Tax Credits in the Agency Affordable Housing Tax Credit Ceiling that are not reserved or allocated during that State fiscal year shall expire and shall not be reserved or allocated in any succeeding State fiscal year.