The Housing Opportunities Through Modernization Act (HOTMA) poses the most significant changes to affordable housing in decades, including the Low-Income Housing Tax Credit (LIHTC) program. While some State Housing Credit Agencies have updated their policies and forms to incorporate and accommodate HOTMA, others have been waiting for guidance and templates from industry leaders. On August 28, 2024, the National Council of State Housing Agencies (NCSHA) released new and updated model forms for State Housing Credit Agency use in LIHTC program compliance.
The HOTMA-compliant forms package includes an updated Tenant Income Certification (TIC) and Asset Self-Certification, among other forms designed to guide management through the income and asset certification process. Careful consideration was given to the feedback received from NCHM and other industry partners as NCSHA developed forms to be consistent with its most recent update to its Recommended Practices in Housing Credit Administration.
NCHSA’s forms can be found at the following links:
- Owner Certification of Continuing Program Compliance
- Tenant Income Certification (TIC) and TIC Instructions
- Asset Self-Certification and Asset Self-Certification Worksheet
- Certification of Zero Income
- Affidavit of Student Financial Assistance
- Student Status Verification
- Student Self-Certification
- Complete Set of Forms
As a reminder, the standard of sufficiency for verification is set by individual State Housing Credit Agencies. Owners and managers must follow the guidance put forth by those agencies in the states where they operate. NCSHA serves to support the LIHTC program and hopes State Housing Credit Agencies will choose to adopt the forms in full or adapt them to best meet their needs.