Scope, Purpose and Applicability

(1) 760 CMR 54.00 explains the calculation of the low-income housing tax credit established by M.G.L. c. 23B, § 3, M.G.L. c. 62, § 6I and M.G.L. c. 63, § 31H. The Department of Housing and Community Development may allocate, Massachusetts Low-income Housing Tax Credit in the amount set forth in M.G.L. c. 23B, § 3, M.G.L. c. 62, § 6I and M.G.L. c. 63, § 31H for projects that qualify for the federal low-income housing tax credit under § 42 of the Internal Revenue Code of 1986. (2) Effective Date. 760 CMR 54.00 takes effect on September 30, 2011 and applies to tax years beginning on or after January 1, 2001. Amendments effectuated by St. 2016, c. 219, §§ 73 through 77 and 80 through 84 take effect October 6, 2017 and apply to tax years beginning on or after January 1, 2017. Amendments effectuated by St. 2018, c. 99, §§ 8, 9, 13 and 14, as amended by St. 2018, c. 162, § 1, take effect August 3, 2018, and apply to tax years beginning on or after January 1, 2019.