Procedures for Carryover of Housing Tax Credits
Minnesota Housing may give a carryover allocation to certain qualified building(s), which are to be placed in service prior to the deadline established by Section 42, as may be extended by relief issued by the IRS. To receive a carryover allocation, the owner must submit a complete carryover application package to Minnesota Housing no later than November 1 of the allocation year for which the reservation was issued. Contact a housing tax credit member to learn more about the carryover process.
Procedures
2024
2024
2024 Housing Tax Credit (HTC) Carryover applications must be submitted in Minnesota Housing's Multifamily Customer Portal (Portal). Project owners apply for Carryover by submitting the required application, attachments, and verification documents to Minnesota Housing in an acceptable form. The Carryover application and all required documentation must be submitted to Minnesota Housing no later than noon Central Time on Friday, November 1, 2024. If you are requesting additional HTC, the Carryover Application should be submitted by noon Central Time Tuesday, October 15, 2024, to allow sufficient time to process the request.
To the extent permissible, late fees will be imposed on Carryover applications submitted after the submission deadline as provided in the 2024-2025 Qualified Allocation Plan (QAP).
The documents on this page are listed here for reference purposes and do not reflect the full list of required documents. If you are applying for Carryover, please use our Multifamily Customer Portal and refer to the Carryover checklist.
- Notice of Owner Intention
- Carryover Application (HTC 4)
- Building Information Form (HTC 5)
- Attorney's Opinion Letter
- Certified Public Accountant's Certification (HTC 6) - Part 1 of 2
- Certified Public Accountant's Certification (HTC 6A) - Part 2 of 2
- Management and Operating Expense Review and Underwriting Certification (HTC 29)
- Gross Rent Floor Election Form (Competitive State Cap Credit) (HTC 26)
- AFHMP Process and Materials
- Equal Employment Opportunity Policy Statement
- Unit Development Characteristics Profile
- Assisted Living Narrative
- Assisted Living Certification
- Temporary Relocation Principles
- Identity of Interest
- Fee Remittance Form
- HTC Project Schedule
2023
2023
Procedures
Procedures
2023 HTC Carryover applications must be submitted in Minnesota Housing's Multifamily Customer Portal (Portal). Project owners apply for Carryover by submitting the required application, attachments and verification documents to Minnesota Housing in an acceptable form. The Carryover application and all required documentation must be submitted to Minnesota Housing no later than noon Central Time on Wednesday, November 1, 2023.
To the extent permissible, late fees will be imposed on Carryover applications submitted after the submission deadline as provided in the 2022-2023 Qualified Allocation Plan (QAP).
If you are applying for Carryover, please use our Multifamily Customer Portal and refer to the Carryover checklist.
Additional Requirements for Average Income Testing (AIT)
Additional Requirements for Average Income Testing (AIT)
- AIT Guidance
- Syndicator/Investor letter of approval referencing the specific rent and income tiers.
- Permanent lender(s) letter of approval referencing the specific rent and income tiers.
- Bond issuer letter of approval referencing the specific rent and income tiers. If Minnesota Housing is the bond issuer, Minnesota Housing approval is also required and requests will be considered on a case by case basis.
- Updated Market Study - see revised Market Study Guidelines
- AIT Election/Certification Form
- Income and Rent Grid
- Updated Multifamily Workbook
The project must receive approval from Minnesota Housing to change the minimum set aside election. If you have any questions or need additional information, please contact any member of the tax credit team at htc.mhfa@state.mn.us.
2022
2022
Procedures
Procedures
2022 HTC Carryover applications must be submitted in Minnesota Housing's Multifamily Customer Portal (Portal). Project owners apply for Carryover by submitting the required application, attachments and verification documents to Minnesota Housing in an acceptable form. The Carryover application and all required documentation must be submitted to Minnesota Housing no later than 12:00 p.m. CT on November 1, 2022 (If this date is not a business day, then the next calendar business day applies.).
To the extent permissible, late fees will be imposed on Carryover applications submitted after the submission deadline as provided in the 2022-2023 Qualified Allocation Plan (QAP).
The documents on this page are listed here for reference purposes and do not reflect the full list of required documents. If you are applying for Carryover, please use our Multifamily Customer Portal.
- Notice of Owner Intention - August 1, 2022
- Carryover Application (HTC 4)
- Building Information Form (HTC 5)
- Attorney's Opinion Letter
- Certified Public Accountant's Certification (HTC 6) - Part 1 of 2
- Certified Public Accountant's Certification (HTC 6A) - Part 2 of 2
- Management and Operating Expense Review and Underwriting Certification (HTC 29)
- Gross Rent Floor Election Form (Competitive State Cap Credit)
- AFHMP Process and Materials
- Equal Employment Opportunity Policy Statement
- HTC Design Standards Certification
- Unit Development Characteristics Profile
- Assisted Living Narrative
- Assisted Living Certification
- Temporary Relocation Principles
- Identity of Interest
- Fee Remittance Form
Additional Requirements for Average Income Testing (AIT)
Additional Requirements for Average Income Testing (AIT)
- AIT Guidance
- Syndicator/Investor letter of approval referencing the specific rent and income tiers is required.
- Permanent lender(s) letter of approval referencing the specific rent and income tiers is required.
- Bond issuer letter of approval referencing the specific rent and income tiers is required. If Minnesota Housing is the bond issuer, Minnesota Housing approval is required and requests will be considered on a case by case basis.
- Updated Market Study - see revised Market Study Guidelines
- AIT Election/Certification Form
- Income and Rent Grid
- Updated Multifamily Workbook
The project must receive approval from Minnesota Housing to change the minimum set aside election. If you have any questions or need additional information, please contact any member of the tax credit team at htc.mhfa@state.mn.us.
2021
2021
Procedures
Procedures
2021 HTC Carryover applications must be submitted in Minnesota Housing's Multifamily Customer Portal (Portal). Project owners apply for Carryover by submitting the required application, attachments and verification documents to Minnesota Housing in an acceptable form. The Carryover application and all required documentation must be submitted to Minnesota Housing no later than 12:00 p.m. on November 1, 2021. (If this date is not a business day, then the next calendar business day applies.).
To the extent permissible, late fees will be imposed on Carryover applications submitted after the submission deadline as provided in the 2021 Housing Tax Credit Program Procedural Manual.
The documents on this page are listed here for reference purposes and do not reflect the full list of required documents. If you are applying for Carryover, please use our Multifamily Customer Portal.
- Notice of Owner Intention - August 1, 2021
- Project Schedule (MHFA Form 104)
- Owner Certification/Application for Carryover Allocation (HTC 4)
- Building Information Form (HTC 5)
- Attorney's Opinion Letter
- Certified Public Accountant's Certification - Background Memo
- Certified Public Accountant's Certification (HTC 6) - Part 1 of 2
- Certified Public Accountant's Certification (HTC 6A) - Part 2 of 2
- Management and Operating Expense Review and Underwriting Certification (HTC 29)
- Gross Rent Floor Election Form (Competitive State Cap Credit)
- AFHMP Process and Materials
- Equal Employment Opportunity Policy Statement
- HTC Design Standards Certification
- Unit Development Characteristics Profile
- Assisted Living Narrative
- Assisted Living Certification
- Temporary Relocation Principles
- Identity of Interest
- Fee Remittance Form
Additional Requirements for Average Income Testing (AIT)
Additional Requirements for Average Income Testing (AIT)
- AIT Guidance
- Syndicator/Investor letter of approval referencing the specific rent and income tiers is required.
- Permanent lender(s) letter of approval referencing the specific rent and income tiers is required.
- Bond issuer letter of approval referencing the specific rent and income tiers is required. If Minnesota Housing is the bond issuer, Minnesota Housing approval is required and requests will be considered on a case by case basis.
- Updated Market Study - see revised Market Study Guidelines
- AIT Election/Certification Form
- Income and Rent Grid
- Updated Multifamily Workbook
2020
2020
Procedures
Procedures
2020 HTC Carryover applications must be submitted in Minnesota Housing's Multifamily Customer Portal (Portal). Project owners apply for Carryover by submitting the required application, attachments and verification documents to Minnesota Housing in an acceptable form. The Carryover application and all required documentation must be submitted to Minnesota Housing no later than 12:00 p.m. on November 1, 2020. (If this date is not a business day, then the next calendar business day applies.)
To the extent permissible, late fees will be imposed on Carryover applications submitted after the submission deadline as provided in the 2020 Housing Tax Credit Program Procedural Manual.
- Notice of Owner Intention - August 1, 2020
- Project Schedule (MHFA Form 104)
- Owner Certification/Application for Carryover Allocation (HTC 4)
- Building Information Form (HTC 5)
- Attorney's Opinion Letter
- Qualified Building One Year Extension Background
- Certified Public Accountant's Certification - Background Memo
- Certified Public Accountant's Certification (HTC 6) - Part 1 of 2
- Certified Public Accountant's Certification (HTC 6A) - Part 2 of 2
- Management and Operating Expense Review and Underwriting Certification (HTC 29)
- Gross Rent Floor Election Form (Competitive State Cap Credit)
- AFHMP Process and Materials
- Equal Employment Opportunity Policy Statement
- HTC Design Standards Certification
- Unit Development Characteristics Profile
- Assisted Living Narrative
- Assisted Living Certification
- Temporary Relocation Principles
- Identity of Interest
- Fee Remittance Form
Additional Requirements for Average Income Testing (AIT)
Additional Requirements for Average Income Testing (AIT)
- AIT Guidance
- Syndicator/Investor letter of approval referencing the specific rent and income tiers is required.
- Permanent lender(s) letter of approval referencing the specific rent and income tiers is required.
- Bond issuer letter of approval referencing the specific rent and income tiers is required. If Minnesota Housing is the bond issuer, Minnesota Housing approval is required and requests will be considered on a case by case basis.
- Updated Market Study - see revised Market Study Guidelines
- AIT Election/Certification Form
- Income and Rent Grid
- Updated Multifamily Workbook
Make Final CPA 10% Certification
The project must receive approval from Minnesota Housing to change the minimum set aside election.
