Agency Regulations

Agency Regulations

Download the Agency Regulations (6MB PDF).

Proposed Amendments to Qualified Allocation Plan, N.J.A.C. 5:80-33

Proposed amendments to the New Jersey Housing and Mortgage Finance Agency’s (Agency) Qualified Allocation Plan (QAP), codified at N.J.A.C. 5:80-33.1 et seq., will be published in the October 3, 2016 New Jersey Register at 48 NJR 1989. 

Section 42 of the Internal Revenue Code of 1986 (Code) establishes a low-income housing tax credit (LIHTC) that may be applied against the Federal income tax of persons or entities that have invested in certain buildings providing affordable housing.  As the housing credit agency for the State of New Jersey (State), the Agency allocates these credits to qualified taxpayers and thereafter monitors their compliance with Section 42 of the Code. The QAP sets forth the standards and procedures used to perform allocation and monitoring responsibilities and is the QAP for the State required by Section 42 of the Code. 

A public hearing on the proposed amendments has been scheduled to be held in the boardroom of the Agency at 637 South Clinton Avenue, Trenton, New Jersey on Wednesday, October 26, 2016 at 10:00 a.m.  Interested persons may appear and comment upon the proposed amendments; please call the Agency’s Division of Tax Credit Services at (609) 278-7629 if you wish to be included on the list of speakers.

Interested persons may also submit written comments, which will be accepted by the Agency until December 2, 2016. Please submit any written comments to:

Anne Hamlin
Director of Tax Credit Services
New Jersey Housing and Mortgage Finance Agency
637 South Clinton Avenue
P.O. Box 18550
Trenton, NJ 08650-2085
E-mail:  ahamlin@njhmfa.gov 

Waivers

Requests for waivers from the express provisions of the HMFA's regulations may be made by submitting such request to the attention of the Executive Director. Waivers may be granted only by the HMFA Board when such waiver would not contravene the provisions of the HMFA's enabling statute, N.J.S.A. 55:14K-1 et seq., and upon a finding that, in granting the waiver, the Board will be promoting the statutory purposes of the HMFA.

The HMFA's waiver regulation is found at N.J.A.C. 5:80-19.