1. (a) Owners must determine and provide documentation that proves the eligibility of potential low-income tenants in accordance with LIHTC requirements.
2. (b) A tenant's income eligibility is determined by comparing the household's gross annual anticipated income, calculated in accordance with Department of Housing and Urban Development guidelines, to the LIHTC fifty percent (50%) or sixty percent (60%) area gross median income limits that apply to the development.

3. (c)

   1. (1) Owners must verify the household's income and the student status of all household members.
   2. (2) The tenant and owner must certify the accuracy of the verified information.
4. (d) Since household composition, income, and student status may change over time, owners must recertify the eligibility of tenants in tax credit units annually.

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