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TREAS/IRS RIN: 1545-BP59 Publication ID: Fall 2023 
Title: Compliance Monitoring II--Section 42 Low-Income Housing 
Abstract:

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.

 
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: 26 CFR 1.42-5   
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 42   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  07/07/2020  85 FR 40610   
NPRM Comment Period End  09/08/2020 
Final Action  06/00/2024 
Additional Information: REG-123027-19 (Final) Drafter attorney: Dillon Taylor (202) 317-3734 Reviewer attorney: Nicole Cimino (202) 317-5112 Treasury attorney: Mike Novey (202) 622-1339 CC:PSI
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Local, State 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Dillon J. Taylor
Senior Technician Reviewer
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-3734
Email: dillon.j.taylor@irscounsel.treas.gov