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The qualified contractual procedure allows LIHTC property owners to re-register after the first 15 years of the program. To use this process, the owner must inform the national tax agency of its intention to sell and the Agency would then have one year to find a qualified buyer. If no qualified buyer is manufactured within 365 days, the owner may be exempt from any restrictions and obligations of use. However, if the owner refuses to sell the property, he must comply with the expanded use restrictions. Note that this option is only available to homeowners who have not waived their right to apply for a qualified contract or who have entered into it if they sign their limited use contract with the HFA state. In the event of non-compliance, no credit is allowed for buildings subject to the contract until the fiscal year in which the ONCE is in effect. In addition to the basic requirement for a property to meet the 40/60 test or the 20/50 test and keep rents at this level for at least 15 years, the LURA agreements also include an extended utility period, often 15 years, but sometimes longer or shorter depending on the country. It is important to recognize that when an owner sells a property and the LURA is still active, the new purchaser must always follow all its rules. As noted in 42 H) (6), all LIHTC properties that have allocated credits after 1989 must have an Extended Use Agreement (EUU). The agreement is entered into by the taxpayer and the Housing Credit Agency (HCA) and has a minimum term of 30 years (15 years after the end of the 15-year compliance period). In short, the IRS will ensure that an INE exists, is properly designed and recorded. The service will not enforce the provisions of the agreement.

It is important to note that the provisions of the credit win-win code do not apply, as non-compliance with an URI does not result in a reduction in the qualified basis. The ERA must include provisions to protect low-income residents from eviction or termination of the lease for reasons other than good reason throughout the life of the term. In addition, low-income individuals cannot terminate a tenancy agreement without cause for a period of three years from the end of the ERA and their rent must not be increased beyond the authorized LIHTC rent limit. The Internal Revenue Code allows properties to leave the LIHTC program prematurely if the property is subject to foreclosure. However, proponents have begun to see cases of “planned seizures,” which are measures being considered by partners in the developments of the LIHTC, which should lead to silos or silos to remove restrictions on the accessibility of these properties. Although Congress expressly gave the Minister of Finance the authority to determine that such intentional transactions are not considered seizures that terminate the CTCHL`s affordable pricing requirements, the IRS has refused to provide guidelines or take action. In addition, each amount paid by the tenant is included in the form of rent to determine whether the unit is limited to rent. Given that the priority objective of item 42 is to promote housing for low-income people and that points 42 hours and 42 hours) and (i) are intended to promote these units beyond the compliance period, the ERA meets the requirements of .42, even if, at the end of the compliance period, a tenant has the right to refuse to purchase a low-income unit.

Of the 11,290 properties in the study, researchers found that in 2009, 3,699 (about 32%) Were no longer monitored by the state`s HFA, which meant they could charge higher rents. However, despite the absence of accessibility restrictions, researchers found that “the vast majority” of these properties are still affordable. Some of them are owned by missionary organizations (non-profit or even for-profit owners, who engage in long-term affordable housing) and some are subject to other accessibility mandates.