Exhibit 31-2
                                 CERTIFICATIONS

I, Thomas J. Riha., certify that:

1. I have reviewed this quarterly report on Form 10-Q of WNC HOUSING TAX CREDITS
   III, L.P.;

2. Based   on my knowledge,  this  quarterly  report does not contain any untrue
   statement   of a material fact or omit to state a material fact  necessary to
   make the statements    made, in light of the  circumstances  under which such
   statements  were made,   not misleading with respect to the period covered by
   this quarterly report;

3. Based on my  knowledge,  the  financial  statements,    and  other  financial
   information  included  in this  quarterly  report,    fairly  present  in all
   material respects the financial  condition,  results   of operations and cash
   flows of the  registrant  as of, and for,  the  periods    presented  in this
   quarterly report;

4. The    registrant's  other  certifying  officer  and  I are  responsible  for
   establishing   and maintaining disclosure controls and procedures (as defined
   in Exchange Act Rules 13a-15e and 15d-15e) for the registrant and we have:

   (a)  Designed    such  disclosure  controls  and  procedures,  or caused such
        disclosure   controls    and   procedures  to  be  designed   under  our
        supervision,  to ensure  that  material  information  relating    to the
        registrant,  including its consolidated subsidiaries, is made   known to
        us by others within those entities,  particularly during the period   in
        which this quarterly report is being prepared;

   (b)  Evaluated   the  effectiveness of the registrant's  disclosure  controls
        and procedures   and presented in this report our conclusions  about the
        effectiveness of   the disclosure controls and procedures, as of the end
        of the period covered by this report based on such evaluation; and

   (c)  Disclosed    in this  report  any  change in the  registrant's  internal
        control over   financial reporting that occurred during the registrant's
        most  recent  fiscal  quarter  that    has  materially  affected,  or is
        reasonably  likely  to  materially  affect,  the  registrant's  internal
        control over financial reporting; and

5. The   registrant's other certifying officer(s) and I have disclosed, based on
   our   most recent evaluation of internal control over financial reporting, to
   the    registrant's  independent  registered  public  accounting firm and the
   audit  committee  of  the  registrant's  board  of    directors  (or  persons
   performing the equivalent functions):

   (a)  All   significant  deficiencies and material weaknesses in the design or
        operation    of internal  control  over  financial  reporting  which are
        reasonably  likely   to adversely affect in the registrant's  ability to
        record, process, summarize and report financial information; and

   (b)  Any   fraud, whether or not material,  that involves management or other
        employees   who have a  significant  role in the  registrant's  internal
        control over financial reporting.

Date:  March 6, 2007




/s/ Thomas J. Riha
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Senior Vice-President - Chief Financial Officer of WNC & Associates, Inc.