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.

Proposed amendments, a proposed new rule, reproposed amendments, reproposed new rules, and a reproposed repeal to the Agency’s Qualified Allocation Plan, codified at N.J.A.C. 5:80-33.1 et seq., will be published in the March 18, 2013 New Jersey Register. Section 42 of the Internal Revenue Code of 1986 (Code) establishes a low-income housing tax credit that may be applied against the Federal income tax of persons or entities who or which have invested in certain buildings providing housing for low-income families. 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. The amendments, repeals and new rules are being proposed to ensure consistency with federal requirements and State policy.

A public hearing on the proposed amendments, proposed new rule, reproposed amendments, reproposed new rules, and reproposed repeal to the QAP has been scheduled at the offices of the Agency at 637 South Clinton Avenue, Trenton, New Jersey on Thursday, April 4, 2013 at 10:00 a.m. Interested persons may appear and comment upon the proposed amendments, proposed new rule, reproposed amendments, reproposed new rules, and reproposed repeal; 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 April 17, 2013. Please submit written comments to:

Debra Urban
Director of Tax Credit Services
New Jersey Housing and Mortgage Finance Agency
637 South Clinton Avenue
P.O. Box 18550
Trenton, NJ 08650-2085

The full texts of the proposed amendments, repeals and new rules are available for download as a PDF document here.

• Proposed Amendments (11MB PDF)
  

If you prefer to see the entire URL, here it is:

• Proposed Amendments: http://www.njhousing.gov/media/download/regulations/proposed_amendments.pdf