The Internal Revenue Service is suspending certain requirements under § 42 of the Internal Revenue Code for low-income housing credit projects in Vermont to provide emergency housing relief needed as a result of the devastation caused by Tropical Storm Irene in Vermont beginning on August 27, 2011, and continuing.
The notice is effective September 1, 2011, the date of the PresidentÂs major disaster declaration as a result of the devastation caused by Tropical Storm Irene in Vermont beginning on August 27, 2011, and continuing. Displaced and homeless individuals, property owners, and the Vermont Housing Finance Agency urgently need the guidance in this notice.
US Code:
26 USC 42
Name of Law: Low-Income Housing Credit
This notice provides guidance to the Vermont Housing Finance Agency regarding the suspension of certain income limitation requirements under section 42 of the Internal Revenue Code for certain low-income housing tax credit properties as a result of the devastation caused by Tropical Storm Irene in Vermont. It will result in a net increase of 150 burden hours.
$0
No
No
No
No
No
Uncollected
David Selig 202 622-3040
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.
Vermont Disaster Relief Notice 2011 (9-09-11).doc
NOT-137299-11 (Notice 2011-XX), Vermont Low-Income Housing Credit Disaster Relief