Certification of program providing low income rental housing

1. Law
2. District of Columbia Code
3. Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]
4. Lower Income Homeownership Tax Abatement and Incentives
5. Certification of program providing low income rental housing

For the purposes of qualifying for the depreciation deduction provided by 26 U.S.C. § 167(k)(2)(B) , an investor in a shared equity financing agreement, which qualifies for the benefits provided by the Lower Income Homeownership Tax Abatement and Incentives Act of 1983, and who meets the other requirements of 26 U.S.C. § 167(k)(2)(B) , shall be deemed to have conducted rehabilitation pursuant to a program certified by the District of Columbia government if the investor certifies to the Mayor the amount of the rehabilitation expenditures.

(Oct. 8, 1983, D.C. Law 5-31, § 8, 30 DCR 3879; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)

Prior Codifications

1981 Ed., § 47-3507.

Section References

This section is referenced in § 47-1803.03.

Cross References

Income and franchise taxes, deductions, depreciation, see § 47-1803.03.

References in Text

The “Lower Income Homeownership Tax Abatement and Incentives Act of 1983,” referred to in this section, is D.C. Law 5-31.

Editor's Notes

Mayor authorized to issue rules: Section 9 of D.C. Law 5-31 provided that the Mayor shall issue rules necessary to carry out the provisions of §§ 47-3502 to 47-3507.

Delegation of Authority

Delegation of authority under Law 5-31, see Mayor’s Order 83-270, November 16, 1983.

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