As per Revenue Ruling 94-57, income limits must be implemented on the effective date or within 45 days from the published date, whichever is later, which means this year's limits must be implemented no later than
June 8, 2019.
There are 41 counties this year with HERA Special Limits available for projects placed in service prior to January 1, 2009. Conversely, several counties who had HERA Special Limits in 2018 no longer have that option in 2019.
If your project was placed into service between December 31, 2008 and April 23, 2019, you may use the vintage limits provided only if your Project is in Iowa, Plymouth or Powesheik Counties, as designated on page 100 of the Income and Rent Limit document provided. For new projects placing in service after the effective date of 4.24.2019 you must use the 2019 limits. IFA has posted the rent and income limit charts back to 2004 on our website under the
Historic Rent & Income Limits section
.
If you are new to LIHTC Income & Rent limits or need a refresher course, IFA has provided a quick reference presentation which will be posted to the
IFA Compliance Page
within the next few days.
HUD limits for the HOME Program have not yet been released.
For purposes of projects that contain both LIHTC and HOME units, continue to use the 2018 HOME numbers.
