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The proposed regulations amend the compliance-monitoring duties of State or local housing credit agencies for purposes of the low-income housing credit under section 42 of the Internal Revenue Code. The proposed regulations affect owners of low-income housing projects that claim the credit, the tenants in those low-income housing projects and Agencies that administer the credit. The proposed regulations support Executive Order 14219 (Ensuring Lawful Governance and Implementing the President’s "Department of Government Efficiency” Deregulatory Initiative) by adopting taxpayer recommendations in response to the prior issued compliance-monitoring requirements that make those requirements less burdensome.