LIHTC Qualified Contracts
Program Description | Downloads & Related Links | Contact Information
Program Description
All Low Income Housing Tax Credit properties are subject to an "extended use period" as described in Section 42 of the Internal Revenue Code. However, certain owners have the option to request the state housing credit agency to obtain a qualified contract so that the current owner can "opt out" of the tax credit program after the first 15 years of the compliance period. The qualified contract price is established based on the formula in Section 42 of the Internal Revenue Code. The state housing credit agency has one year from the date of the receipt of a complete qualified contract request to find a qualified buyer. If the state housing credit agency is unable to find a qualified buyer within the one year period, the extended use period will terminate subject to the three-year decontrol period. For more information on DCA's qualified contract policies and procedures, please see Forms below.
Downloads & Related Links
Electronic Forms for Year 15 Qualified Contracts
15 Yr Contract Calculation Form and Schedules
15 Yr Qualified Contract Policy and Procedures
15 Yr Sample Letter for Request
Qualified Contract Requests Received
1993-078 Concord Village (fka Harmony Village)
Main OAH PageContact Information
Qualified Contract questions may be emailed: Qualified Contract Questions.
Georgia Department of Community Affairs
60 Executive Park South, N.E.
Atlanta, Georgia 30329-2231
