Quiz | Income Limits
Nov 24, 2021
1. Once a tax credit property is placed in service, it will not use lower income and gross rent limits, even if limits go down in the property's area.
True or False
2. MTSP income limits are used for which programs
A) HUD Multifamily
B) Tax credit and tax-exempt bonds
C) Rural Development 515 and Farm Labor
D) HOME and National Housing Trust Fund
3. Once HUD releases the HUD and MTSP income limits, these must be implemented for HOME units.
True or False
4. A project placed in service in the year 2009 is eligible for the HERA Special tax credit limits, if these limits are listed as an option for the property's county.
True or False
5. What type of financing at a tax credit property makes it ineligible for the Rural National Non-metropolitan limit?
A) HUD
True or False
5. What type of financing at a tax credit property makes it ineligible for the Rural National Non-metropolitan limit?
A) HUD
B) Rural Development
C) HOME
D) Tax-exempt bonds
6. Which government agency defines "rural" areas potentially eligible for the rural National Non-metropolitan limits?
A) HUD-MF
6. Which government agency defines "rural" areas potentially eligible for the rural National Non-metropolitan limits?
A) HUD-MF
B) IRS
C) USDA
D) HUD-CPD
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