Amendments to the Qualified Allocation Plan (QAP) proposed by the New Jersey Housing and Mortgage Finance Agency (Agency) will be published in the October 17, 2005 New Jersey Register. The proposed amendments are also available on the Agency’s website at http://www.nj.gov/dca/hmfa/home/news/notices.html.
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 associations 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.
A public hearing on the proposed amendments to the QAP has been scheduled at the offices of the Agency at 637 South Clinton Avenue, Trenton, New Jersey on Thursday, November 17, 2005 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) 278-8818 if you wish to be included on the list of speakers.
Interested persons may also submit written comments by December 16, 2005 to:
Kevin Kavanaugh
Manager of Tax Credit Allocations
New Jersey Housing and Mortgage Finance Agency
637 South Clinton Avenue
P.O. Box 18550
Trenton, NJ 08650-2085
