The Compliance & Asset Management Division is responsible for conducting annual reviews of properties awarded housing credits as well as tri-annual on-site reviews of the property. Owners are required to maintain compliance with federal and state program requirements for at least 30 years. To determine compliance owners submit annual self-certifications of tenant information via THDA’s internet-based reporting system, Tennessee Housing Online Monitoring and Application System (THOMAS). The Division reviews information submitted to determine compliance. All noncompliance is reported to the Internal Revenue Service (“IRS”) on Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition. Noncompliance is cured using the methodology described in the 8823 Guidebook issued by the IRS.
Housing Credit Compliance
Compliance Training Resources
- Certification of Zero Income
- TN Asset Self-Certification
- Student Self-Certification
- Tenant Income Certification
- Asset Self-Certification Worksheet
- Instructions for Completing Tenant Income Certification
- Student Status Verification
- Affidavit of Student Financial Assistance
- THDA Supplemental Demographic Form
- HO-0419 - Exhibit B-Multiple Owners
- HO-0419 - Exhibit B-Single Owner
- HO-0419 - Exhibit B-2 -General Partner Change
- HO-0420 - Household Income Certification
- HO-0422 - Employment Verification
- HO-0423 - Verification of Annual Income, Household Size, and Utility Allowance by the Section 8 Administrative Agency for Applications with Housing Choice Vouchers
- HO-0425 - Exhibit C Applicable Fraction Worksheet
- HO-0427 - Exhibit F: Nonrevenue Form
- HO-0430 - Next Available Unit
- HO-0433 - Student Verification
- HO-0436 - Zero Income Verification
- HO-0485 - Under $5,000 Asset Certification
- HO-0486 - Exhibit I: Building Casualty Loss Notification
- HO-0487 - Addendum A-Management Company Change
- HO-0489 - Continuing Residency Certification
- Certification of Student Status
Compliance Bulletins, Notices, or Letters
Notice of Major Disaster Relief & Emergency Housing Relief Authorization For Displaced Individuals HURRICANE HELENE
Low-Income Housing Tax Credit Program Displaced Individuals Certification HURRICANE HELENE
LIHTC Notice of Major Disaster Relief and Authorization for Emergency Housing Relief Tennessee Tornadoes
Displaced Household Certification for Tennessee Tornadoes
Major Disaster Declaration Information for Dickson, Hickman, Houston and Humphreys Counties
Displaced Household Certification
Guidance for Energy Star Utility Allowance for LIHTC Developments
Housing and Economic Recovery Act of 2008
Utility Allowance Guidance
Average Income Test Guidance
HUD Income Limits