| Description |
This chapter governs the allocation by the department of federal credits pursuant to §42 of the IRC and state credits pursuant to the state code. Notwithstanding anything to the contrary herein, acting at the request or with the consent of the applicant for federal credits or state credits or both, the director is authorized to waive or modify any provision herein where deemed appropriate by him for good cause, to the extent not inconsistent with the IRC and the state code. This chapter is intended to provide a general description of the department's processing requirements and is not intended to include all actions involved or required in the processing and administration of the federal credits and state credits. This chapter is subject to change at any time by the department and may be supplemented by policies and procedures adopted by the department from time to time. Any determination made by the department pursuant to this chapter as to the financial feasibility of any development or its viability as a qualified low-income development shall not be construed to be a representation or warranty by the department as to such feasibility or viability. Notwithstanding anything to the contrary here, all procedures and requirements in the IRC and the state code must be complied with and satisfied.
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