The Arizona Department of Housing has released a notice that summarizes proposed changes to the July 2008 IRS ruling that amends utility allowance regulations for the low-income housing tax credit (LIHTC) program. Whereas the IRS ruling offers five options for estimating tenant utility costs, ADOH will allow the use of three potential methods for determining utility allowances for LIHTC buildings in Arizona:
- the public housing authority (PHA) utility allowance;
- the local utility company estimate; or
- an energy consumption model.
ADOH excludes the state agency estimate and HUD’s utility schedule model from its list of options. read more…