04 NCAC 01G .0201. ELIGIBLE PROJECTS

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The low‑income housing tax credit is available for the acquisition, construction and rehabilitation of low‑income rental housing. All projects must comply with the requirements of local housing and zoning laws and applicable state or federal laws, including Section 42 of the Internal Revenue Code.

History Note: Filed as a Temporary Rule Eff. October 16, 1987, for a Period of 120 Days to Expire on

February 13, 1988;

Filed as a Temporary Rule Eff. April 27, 1987, for a Period of 120 Days to Expire on

August 24, 1987;

Authority G.S. 143B‑429; 143B‑430; Rev. Code Sec. 42; Fed Reg 26 CFR 1.42‑1T;

Eff. November 1, 1987.

                    
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