15 AAC 151.730. Allocation of tax credit

(a) The executive director will administer the procedures for allocation of the low-income housing tax credit and will determine allocations on behalf of the Corporation. All actions to be taken by the Corporation under 15 AAC 151.710 - 15 AAC 151.840 may be taken by the executive director's designee.

(b) The Corporation will allocate the state's annual housing credit ceiling amount based on a qualified allocation plan, developed by the Corporation, under the requirements specified in the code.

(c) The Corporation will rank applications requesting an allocation of tax credits based on the priorities set forth in the qualified allocation plan referred to in 15 AAC 151.730(b) .

(d) In allocating tax credits to qualified projects the low-income housing credit dollar amount allocated to a project shall not exceed the amount the Corporation determines is necessary for the financial feasibility of the project and its viability as a qualified low-income housing project throughout the compliance period.

History: Eff. 5/7/93, Register 130

Authority: AS 18.55.100 (a)

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