Exam (elaborations)
HCCP EXAM 2024 QUIZZES & ANS!!
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HCCP EXAM 2024 QUIZZES & ANS!!
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Name: Score:61 Multiple choice questions
Definition 1 of 61
State turns into the IRS (along with 8609) the first year to account for their allocating and
monitoring duties
What is form 8609?
What is form 8610?
Who files 8823?
What is form 8823
Term 2 of 61
Line 8a on 8609
Qualified Basis
Minimum Set-aside
Eligible Basis
Entire Tax Basis
Term 3 of 61
Line 7 on 8609
Minimum Set-aside
Qualified Basis
Eligible Basis
Qualified Allocation Plan
,Term 4 of 61
What are other names for HFA - State Housing Finance Agency
1. 140% rule
2. Next Available Unit Rule
3. NAUR
A charge that everyone is required to pay
The Official allocation of credits from the state for each bulding
1. State Agency
2. Allocating Agency
3. Finance Agency
Term 5 of 61
What is form 8823
A tax form for claiming dependents
A document for reporting personal property tax
Form used by the state agency to file non compliance to the IRS
A form for registering a new business entity
Term 6 of 61
LURA Aka...
Housing andEconomic Recovery Acts
Qualified Allocation Plan
Land Use Restriction Agreement
1. Use Agreement
2. Regulatory Agreement
, Term 7 of 61
How long do you have to implement Income Limits
Income Limits must be implemented within 60 days of the release date
Income Limits must be implemented within 45 days of the release date
Income Limits must be implemented within 90 days of the release date
Income Limits must be implemented within 120 days of the release date
Term 8 of 61
Line 10c on 8609
Minimum set-aside
Eligible basis
Indicates if the building is part of a multi-building project
Qualified basis
Term 9 of 61
HERA allowable LIHTC Restrictions or Preferences
1. Persons with Special Needs
2. Persons who meet federal or state requirements
3. Persons involved in artistic and literary pursuits (Artists)
1. Rent to Qualified Households
2. Keep Rents Affordable
3. Keep property Decent, Safe and Sanitary
UA must be implemented within 90 days of the announced PHA Change
1. Renters Insurance
2. Cable
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