| (a) The Department requires reports to be submitted
electronically through CMTS and in the format prescribed by the Department.
The Electronic Compliance Reporting Filing Agreement and the Owner's
Designation of Administrator of Accounts forms must be emailed to
cmts.requests@tdhca.state.tx.us for:
(1) 9% Housing Tax Credit Developments - no later than
the 10% Test;
(2) 4% Housing Tax Credit Developments - no later than
Post Bond Closing Documentation Requirements; or
(3) For all other rental Developments, no later than
September 1st of the year following the award.
(b) Each Development is required to submit an Annual
Owner's Compliance Report (AOCR). Depending on the Development, some
or all of the Report must be submitted. The first AOCR is due the
second year following the award in accordance with the deadlines set
out in subsection (e) of this section. Example 607(1): A Development
was allocated Housing Tax Credits in July 2019. The first report is
due April 30, 2021, even if the Development has not yet commenced
leasing activities.
(c) The AOCR is comprised of four parts:
(1) Part A "Owner's Certification of Program Compliance."
All Owners must annually certify compliance with applicable program
requirements. The AOCR Part A shall include answers to all questions
required by the U. S. Department of the Treasury to be addressed,
including those required by Treasury Regulation 1.42-5(b)(1) or the
applicable program rules;
(2) Part B "Unit Status Report." All Developments must
annually report and certify the information related to individual
household income, rent, certification dates and other necessary data
to ensure compliance with applicable program regulations. In addition,
Owners are required to report on the race and ethnicity, family composition,
age, use of rental assistance, disability status, and monthly rental
payments of individuals and families applying for and receiving assistance
or if the household elects not to disclose the information, such election;
(3) Part C "Housing for Persons with Disabilities."
The Department is required to establish a system that requires Owners
of state or federally assisted housing Developments with 20 or more
housing Units to report information regarding housing Units designed
for persons with disabilities. The certified answers to the questions
on Part C satisfy this requirement; and
(4) Part D "Form 8703." Tax exempt bond properties
funded by the Department must file Form 8703 each calendar year of
the qualified project period. The form is due to the IRS by March
31 after the close of the calendar year for which the certification
is made. The Department requires Tax Exempt Bond Development Owners
to submit a copy of the filed Form 8703 for the preceding calendar
year.
(d) The Owner is required to report certain financial
information to the Department electronically through CMTS. If supplemental
information is required, it must be uploaded to the Development's
CMTS account. "Annual Owner's Financial Certification" (formerly Part
D of the AOCR). Developments funded by the Department must annually
provide and certify to the data represented in the Annual Owner's
Financial Certification (AOFC).
(e) Parts A, B, C, and D of the AOCR and the AOFC must
be provided to the Department no later than April 30th of each year,
reporting data current as of December 31st of the previous year (the
reporting year).
(f) Periodic Unit Status Reports. All Developments
must submit a Quarterly Unit Status Report to the Department through
the Compliance Monitoring and Tracking System. Quarterly reports are
due in January, April, July, and October on the 10th day of the month.
The report must report occupancy as of the last day of the previous
month for the reporting period. For example, the report due October
10th should report occupancy as of September 30th of the preceding
month. The first quarterly report is due on the first quarterly reporting
date after leasing activity commences. Failure to report occupancy
timely will result in a finding of noncompliance.
(g) Owners are encouraged to continuously maintain
current resident data in the Department's CMTS. Under certain circumstances,
such as in the event of a natural disaster, the Department may alter
the reporting schedule and require all Developments to provide current
occupancy data through CMTS.
(h) All rental Developments funded or administered
by the Department will be required to submit an accurate Unit Status
Report prior to a monitoring review and/or a physical inspection.
(i) Housing Tax Credit Developments must submit IRS
Form(s) 8609 with Part II complete through CMTS by the second monitoring
review. If an owner elects to group buildings together into one or
more multiple building projects, the owner must attach a statement
identifying the buildings within the project.
(j) Within six (6) months but at least 90 days prior
to the end of the Affordability Period and/or the end of the Land
Use Restriction Term, the Owner must provide written notice to the
current tenants and applicants. If the Development Owner has been
approved for new funding, through the Department, and/or awarded new
credits such notice is not required. The Notice must contain the following:
proposed new rents, any rehabilitation plans and information on how
to access the Departments Vacancy Clearinghouse to locate other affordable
housing options.
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| Source Note: The provisions of this §10.607 adopted to be effective February 11, 2019, 44 TexReg 560; amended to be effective May 17, 2020, 45 TexReg 3036; amended to be effective November 3, 2022, 47 TexReg 7271 |
