1. (a)

   1. (1) If a low-income unit becomes vacant during the year, the unit remains in compliance with LIHTC regulations and eligible for the tax credit.

   2. (2) The unit may be counted in the set-aside requirement and in determining the qualified basis provided:

      1. (A) The owner has made reasonable attempts to rent the unit or the next available comparable or smaller size unit to an eligible household; and
      2. (B) No other comparable or smaller size units in the building are rented to nonqualifying individuals.

2. (b)

   1. (1) Units that have never been occupied are termed empty, rather than vacant, and cannot be counted as low-income units.
   2. (2) Empty units must be included in the building's total unit count for purposes of counting the applicable fraction.

3. (c)

   1. (1) Throughout the compliance period, owners are required to keep records for each qualified low-income development showing the low-income unit vacancies and data for when and to whom the next available units were rented.
   2. (2) The vacant unit rule applies to both one hundred percent (100%) LIHTC developments and mixed income developments.

Codification Notes: "LIHTC" means low-income housing tax credit.