15 Ark. Code of Rules § 86-411
Recertification exception for 100% LIHTC properties
Operative Text
15 CAR § 86-411. Recertification exception for 100% LIHTC properties. (a) In reference to the recertification exception for one hundred percent (100%) LIHTC properties, the Arkansas Development Finance Authority reminds owners that the waiver refers to third-party verifications of income. (b) The authority requires the following: (1) Properties must have completed the first year in service or initial credit year, whichever is later; (2) The authority must have completed its first compliance monitoring review at the property; (3) The authority requires a complete recertification at first anniversary of the household's move-in (move-in and next complete recertification); (4) Tenants must complete the Affidavit of Income Self-Certification Form and Student Status Affidavit within one hundred twenty (120) days of the anniversary date of the move-in; and (5) Owners or managers are required to update tenant data online using the authority’s web-based computer reporting system (WCMS) including information that has been self- certified. (c) Note. (1) If your property participates in other programs or additional set-asides (e.g., HOME, United States Department of Agriculture Rural Development, or thirty percent (30%) set-asides) that require annual third-party verifications of income, the owner is not relieved of the recertification requirements for those programs/set-asides. (2) The authority recommends that owners or managers complete third-party verifications of income for all units if you are required to do so for other programs.
Section 86-411 of the Arkansas Code of Regulations establishes a limited exception to the standard annual income recertification process for properties where every unit qualifies under the Low-Income Housing Tax Credit (LIHTC) program. Under this exception, third-party income verifications are waived for annual recertifications after the first full recertification cycle, but tenants must still complete self-certification affidavits within 120 days of their move-in anniversary. The waiver applies only to LIHTC requirements and does not eliminate recertification obligations imposed by other programs, such as HOME or USDA Rural Development, that independently require third-party income verification. Owners must also keep tenant data current in the Arkansas Development Finance Authority's web-based computer reporting system (WCMS).
Plain English — not legal advice.
Operators of 100% LIHTC properties governed by 15 Ark. Code R. pt. 86 § 86-411 generally ensure that the property has completed its initial credit year and that the Arkansas Development Finance Authority has conducted its first compliance monitoring review before relying on the recertification exception. Compliant operators collect a completed Affidavit of Income Self-Certification Form and Student Status Affidavit from each household within 120 days of the move-in anniversary and promptly update all relevant tenant data in the WCMS. Operators whose properties also participate in HOME, USDA Rural Development, or other set-aside programs typically maintain separate third-party verification workflows for those programs, since § 86-411 does not waive those independent requirements.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Section 86-411 affects how income recertification is handled at properties where every unit is part of the LIHTC program in Arkansas. Rather than undergoing a full third-party income verification each year after the first recertification cycle, tenants at qualifying properties may instead complete a self-certification affidavit — but this must be done within 120 days of the anniversary of their move-in date. Tenants who have questions about whether their property qualifies for this exception, or who believe the recertification process is not being followed correctly, may contact the Arkansas Development Finance Authority or reach out to a local tenant-rights organization for general guidance.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated October 22, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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