Owners of residential low-income rental buildings may claim a low-income housing credit for each qualified building over a 10- year credit period. Form 8609 can be used to obtain a housing credit allocation from the housing credit agency. The form, along with Schedule A, is used by the owner to certify necessary information required by the law.
US Code:
26 USC 42
Name of Law: Low-income housing credit
Form 8609 can be used to obtain a housing credit allocation from the housing credit agency.
Changes were made to this collection to separate out the burden associated with each form. This will increase the accuracy of reporting future burden trends relating to each separate form or worksheet. The result is an adjustment to our burden estimate by an increase in the estimated number of responses by 119,046 and an increase in the total burden by 379,777 hours.
Changes have been made to the form and instructions to comply with the ending of the credit, initially made in 2006, 2007, or 2008, for the Gulf Opportunity (GO) Zone, Rita GO Zone, or Wilma GO Zone. This credit was provided as provisions of the Katrina Emergency Tax Relief Act of 2005 and the Gulf Opportunity Zone Act of 2005. The ending date for the period during which the building must be place in service has been extended to December 31, 2011. As a result of the changes made to comply with the December 31, 2011 extension, we estimate this will result in an increase in the total burden hours by 381,155. However, we estimate that the new annual responses for this credit will decrease by 18,000 from what was previously approved by OMB.
The net result of the changes made to these forms is an estimated increase in the number of responses by 101,046 and an increase in the total burden by 760,932 hours.
$18,500
No
No
No
No
No
Uncollected
D. Buchanan 202 622-3085
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Form 8609 Form 8609, Low-Income Housing Credit Allocation and Certification
Supporting Statement.doc
Form 8609, Low-Income Housing Credit Allocation and Certification