For projects with Tax Exempt Bonds, Owners may elect to lock the applicable tax credit percentage in the month of the bond sale. This is optional and if no election is made, the tax credit percentage will be set as of the placed-in-service date.

• To lock the applicable tax credit percentage, please download and submit the Election Statement to Fix Tax Credit Percentage (27k Microsoft Word DOC file).

Submission of the Election Statement to Fix Tax Credit Percentage is required no later than the 5th day after the month in which the bonds were issued.
(For example, if bonds were issued in July, the form must be received by the Agency no later than August 5th.)
 
For projects that are interested in this election, please submit a fully completed and executed form to:
 
Johanna Peña
NJHMFA
PO Box 18550
Trenton, NJ 08650
jpena@njhmfa.gov
 
Questions? Contact the Tax Credit division at 609-278-7629.