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Budget Summary FY2017

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70049315 - Low-Income Housing Tax Credit Fee Retained Revenue
Data Current as of:  8/9/2016

Account Description FY2016
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 not more than $2,432,072 from fees collected under these programs; provided, that funds may be expended for the costs of administering and monitoring the programs, including the costs of personnel, subject to the approval of the undersecretary of the department; and provided further, that notwithstanding any general or special law to the contrary, 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
2,432,072 2,432,072