Agencies | Governor
Virginia Regulatory Town Hall
Agency
Department of Housing and Community Development
Board
Board of Housing and Community Development


chapter
Rules and Regulations for the Virginia Low-Income Housing Tax Credit [13 VAC 5 ‑ 175]
Guidance Documents   Periodic Reviews
Chapter Information
Description The General Assembly enacted legislation to create a Virginia low-income housing tax credit for persons (individuals or any legal entity) providing rental-housing units in Virginia for occupancy by low-income households. The Virginia tax credit was developed to supplement the federal low-income housing tax credit (administered by the Virginia Housing Development Authority) and thereby provide a greater incentive to increase low-income housing opportunities in the Commonwealth. The state tax credit is administered by the Department of Housing and Community Development. To qualify for the Virginia low-income housing tax credit, the applicant must qualify for and claim the federal low-income housing tax credit. The Virginia low-income housing tax credit is available for qualified housing units placed in service on or after January 1, 1998. A credit is available for up to five consecutive, taxable years, provided a federal low-income housing tax credit is allowed and claimed during each year the state credit is claimed. The Board of Housing and Community Development adopts regulations for the allocation of this state tax credit. Beginning January 1, 2002, regulations require projects to compete for the statutorily limited amount of available tax credits. Projects will be awarded points based on the low-income housing needs they will serve. The projects receiving the highest point totals will be allocated tax credit authority.
State Authority ยง 36-55.63 of the Code of Virginia
Federal Authority None entered
Exempt from APA Yes, changes to this chapter of the VA Administrative Code are exempt from the Administrative Process Act. The normal executive branch review process is not required.
Text of Regulation Link to Virginia Administrative Code
Goals of Regulation None entered
Meetings

Contact Information
Name / Title: Elizabeth O. Rafferty  / Policy and Legislative Director
Address: Main Street Centre
600 East Main Street, Suite 300
Richmond, VA 23219
Email Address: elizabeth.rafferty@dhcd.virginia.gov
Telephone: (804)371-7011    FAX: (804)371-7090    TDD: (804)371-7089
Current Actions
Action Title Latest Stage Status
None

Past Actions
Action Title Latest Stage Status
Amendment
This action is exempt from the executive branch review process.
Final Stage complete. This regulation became effective on 1/1/2002.