AGENCY: Utah Housing Corporation

SERIES: 13750
TITLE: Low income housing tax credit compliance files
DATES: 1986-
ARRANGEMENT: Chronological, thereunder numerical by order as received in office

DESCRIPTION: These records document tax credits received by developers who build low income housing projects. They verify that a project is in compliance with Internal Revenue Service regulations, that the renter's income is at the proper level, and the rents appropriate for the housing project. These records contain the initial application packet (series 12491); compliance audit reports; income certifications; record keeping forms which indicate number of buildings in the project, number of units, type of units (how many bedrooms), utilities for the unit, and total rent; working papers (including hand-written notes when an audit is being conducted); and pictures of the projects. These records are microfilmed on an annual basis after July 1.

RETENTION

Retain for 100 year(s)

DISPOSITION

Destroy.

RETENTION AND DISPOSITION AUTHORIZATION

Retention and disposition for this series were specifically approved by the State Records Committee.

APPROVED: 09/1994

FORMAT MANAGEMENT

Paper: Retain in Office for 1 year and then transfer to State Records Center. Retain in State Records Center for 99 years and then destroy.

Microfilm master: Retain in State Records Center for 60 years and then destroy.

Microfilm duplicate: Retain in Office for 60 years and then destroy.

APPRAISAL

Administrative Legal

This disposition is based on the administrative needs expressed by the agency. These files are needed for the length of time that individual renters live in the housing project. Also, 26_CFR 1.42-1T (1992) indicates that the compliance period for tax credits is approximately 21 years.

PRIMARY DESIGNATION

Private

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