![The Affordable Housing Tax Credit Coalition [main graphic] A group of developers, syndicators, lenders, nonprofit groups, public agencies, and others concerned with the low-income housing tax credit.](/images/feature_graphics/feature10.jpg?1147966404)
On December 26, 2007, the IRS provided Revenue Ruling 2008-06 which offers guidance on treatment of Native American Housing Assistance and Self-Determination Act (NAHASDA) funds.
The Revenue Ruling determines that certain rental assistance payments made to a Housing Credit property owner on behalf of a tenant under the Indian Housing Black Grant Program authorized under NAHASDA are not considered federal grants made with respect to a building or its operation for purposes of the Housing Credit program.
Revenue Ruling 2008-06 is scheduled to be published in Internal Revenue Bulletin 2008-3 on January 22, 2007.
For more information, contact Francine Friedman (ffriedman@hunton.com or (202) 955-1500) or Victoria Spielman (info@taxcreditcoalition.org or (202) 419-2025) or visit www.taxcreditcoalition.org
