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Budget Summary FY2015

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70049315 - Low-Income Housing Tax Credit Fee Retained Revenue
Data Current as of:  10/17/2014

Account Description FY2014
7004-9315 Low-Income Housing Tax Credit Fee Retained Revenue
For the department of housing and community development which may expend for the administration and monitoring of the low-income housing tax credit and local administration programs an amount not to exceed $2,535,003 from revenue collected from fees collected under Executive Order No. 291, pertaining to low-income housing tax credits for the costs of administering and monitoring the programs, including the costs of personnel, subject to the approval of the undersecretary of the department; provided, that notwithstanding any general or special law to the contrary and for the purpose of accommodating timing discrepancies between the receipt of retained revenues and related expenditures, the department may incur expenses and the comptroller may certify for payment amounts not to exceed the lower of this authorization or the most recent revenue estimate as reported in the state accounting system
2,535,003 2,535,003