(RECAP: Earlier today, the U.S. Government Accountability Office (GAO) released the second in its three-report series on the Housing Credit program. This report focuses on state administration of the program. Despite its title, Low-Income Housing Tax Credit: Some Agency Practices Raise Concerns and IRS Could Improve Noncompliance Reporting and Data Collection, the report finds that states are administering the program in a manner largely consistent with federal laws and regulations, and in many cases, going above and beyond their requirements. The report is based on GAO’s review of all agencies’ 2013 Qualified Allocation Plans (QAPs) and site visits to and more extensive reviews of eight state agencies and one sub-recipient agency.)
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