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TREAS/IRS RIN: 1545-BO92 Publication ID: Spring 2022 
Title: Section 42 Low-Income Housing Credit Average Income Test Regulations 

The Consolidated Appropriations Act of 2018 added a new applicable minimum set-aside test under section 42(g) of the Internal Revenue Code known as the average income test.  This proposed regulation will implement requirements related to the average income test.

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 42   
Legal Deadline:  None
Action Date FR Cite
NPRM  10/30/2020  85 FR 68816   
NPRM Comment Period End  12/29/2020 
NPRM; Correction and Notice of Public Hearing  02/03/2021  86 FR 8271   
Public Hearing  03/24/2021 
Final Action  10/00/2022 
Additional Information: REG-119890-18 (Final) Drafter attorney: Dillon Taylor (202) 317-4137 Reviewer attorney: James A. Holmes (202) 317-4137 Treasury attorney: Michael Novey (202) 622-1339 CC:PSI
Regulatory Flexibility Analysis Required: Yes  Government Levels Affected: Local, State 
Small Entities Affected: Businesses, Governmental Jurisdictions  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: Yes 
Agency Contact:
Dillon J. Taylor
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-3734