Federal law requires state allocating agencies to monitor compliance with provisions of Section 42 of the Internal Revenue Code (26 U.S.C. § 42). In addition, federal law requires allocating agencies to provide a procedure the agency will follow in monitoring for non-compliance and to inform tax credit recipients (owners) of procedures and requirements. For complete Housing Credit compliance guidance, refer to the Housing Credit Compliance Manual.
A simplified annual compliance reporting checklist and basic submission instructions is included below.
The Annual Owner’s Certification of Continuing Compliance and Tenant Income Certifications forms are available in Certification online (COL). COL is a web-based database input system that allows for comprehensive compliance information submission, monitoring and reporting for properties that are required to comply with Housing Credit and Multifamily Loan guidelines. Please contact the compliance staff to obtain login access to COL, or for other COL questions.
Montana Housing will email and/or mail the remaining forms - Property Contact, Income and Expense Summary and Reserves - to tax credit recipients (owners) directly, with additional submission instructions.
Please submit the following items electronically via Certification On Line (COL):
- Annual Owner’s Certification of Continuing Compliance for the assigned compliance period
- Tenant Income Certifications (TIC)
These items should be sent through the Montana File Transfer Service (transfer.mt.gov)
- Annual Owner’s Certification of Continuing Compliance for the above compliance period (signed by owner and notarized)
- Copy of Low Income Housing Tax Credit & Fair Housing Certifications (dated within the last four years) for all staff members
- Property Contact Form (even if there are no changes)
- Income & Expense Summary form for Last Fiscal Year
- Reserves Form
- Property Contact Form
- Income and Expenses Summary for Fiscal Year Form
- Reserves Form
Submit Annual Compliance Fees (Follow above button; Transaction Item, select Compliance - annual compliance fee from drop down).