##### Table of Contents



SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-K
 þ
    
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 For the fiscal year ended March 31, 2006 or
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission file number 0-19443
 BOSTON CAPITAL TAX CREDIT FUND II LIMITED PARTNERSHIP
  Delaware
    
    04-3066791(State or other jurisdiction 
of incorporation or organization)
    
    (I.R.S. Employer
Identification No.)
 One Boston Place, Suite 2100, Boston, Massachusetts
    
    02108(Address of principal executive offices)
    
    (Zip Code)
 (617)624-8900
 Securities registered pursuant to Section 12(b) of the Act:   None
 Securities registered pursuant to Section 12(g) of the Act:
 None
  o þ
  o þ
  o þ
 o
  o o þ
  o þ




---



##### Table of Contents



DOCUMENTS INCORPORATED BY REFERENCE
  Form 10-KParts
    
    DocumentParts I, III
    
    ProspectusParts II, IV




---



##### Table of Contents



PART IItem 1. BusinessItem 1A. Risk FacotrsItem 1B. Unresolved Staff CommentsItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Submission of Matters to a Vote of Security HoldersPART IIItem 5. Market for the Funds Limited Partnership Interests and Related
Partnership Matters and Issuer Purchases of Partnership InterestsItem 6. Selected Financial DataItem 7. Managements Discussion and Analysis of Financial
Condition and Results of OperationsItem 7a. Quantitative and Qualitative Disclosure About Market RiskItem 8. Financial Statements and Supplementary DataItem 9. Changes in and Disagreements with Accountants on
Accounting and Financial DisclosureItem 9a. Controls and ProceduresPART IIIItem 10. Directors and Executive Officers of the FundItem 11. Executive CompensationItem 12. Security Ownership of Certain Beneficial Owners
and ManagementItem 13. Certain Relationships and Related TransactionsItem 14. Principal Accountant Fees and ServicesPART IVItem 15. Exhibits, Financial Statement SchedulesEX-13 Financial StatementsEX-23 Consents of ExpertsEX-31.A Certification of Principal Executive OfficerEX-31.B Certification of Principal Financial OfficerEX-32.A Certification of Principal Executive OfficerEX-32.B Certification of Principal Financial Officer




---



##### Table of Contents



Organization
    Description of Business
   1




---



##### Table of Contents



(1)
    
    Preserve and protect the Partnerships capital;(2)
    
    provide current tax benefits to Investors in the form of (a) Federal
Housing Tax Credits and Rehabilitation Tax Credits, which an Investor
may apply, subject to certain strict limitations, against his federal
income tax liability from active, portfolio and passive income, and
(b) passive losses which an Investor may apply to offset his passive
income (if any);(3)
    
    provide capital appreciation (except with respect to the Partnerships
investment in certain Non-Profit Operating Partnerships) through
increases in value of the Partnerships investments and, to the extent
applicable, equity buildup through periodic payments on the mortgage
indebtedness with respect to the Apartment Complexes;(4)
    
    provide cash distributions (except with respect to the Partnerships
investment in certain Non-Profit Operating Partnerships) from a
Capital Transaction as to the Partnership. The Operating Partnerships
intend to hold the Apartment Complexes for appreciation in value. The
Operating Partnerships may sell the Apartment Complexes after a period
of time if financial conditions in the future make such sales
desirable and if such sales are permitted by government restrictions;
and(5)
    
    provide, on a current basis and to the extent available, cash
distributions from the operations of the Apartment Complexes (no
significant amount of which is anticipated).
 2




---



##### Table of Contents



As used in this Item 1A, references to we, us and our mean the Fund.
 An investment in our Units and our investments in Local Limited Partnerships and their Operating
Partnerships are subject to risks. These risks may impact the tax benefits of an investment in our
Units, and the amount of proceeds available for distribution to our Limited Partners, if any, on
liquidation of our investments.
 In addition to the other information set forth in this report, you should carefully consider the
following factors which could materially affect our business, financial condition or results of
operations. The risks described below are not the only risks we face. Additional factors not
presently known to us or that we currently deem to be immaterial also may materially adversely
affect our business operations.
 The ability of Limited Partners to claim tax losses from their investment in us is limited.
  The Low Income Housing Tax Credits rules are extremely complicated and noncompliance with these
rules may have adverse consequences for Unit holders.
  Poor performance of one Housing Complex, or the real estate market generally, could impair our
ability to satisfy our investment objectives.
  3




---



##### Table of Contents



- difficulties in obtaining rent increases; limitations on cash distributions;
limitations on sales or refinancing of Operating Partnerships;- limitations on transfers of interests in Local Limited Partnerships;- limitations on removal of Local General Partners;- limitations on subsidy programs; and- possible changes in applicable regulations.
  No trading market for the Units exists or is expected to develop.
  Investors may realize taxable gain on sale or disposition of certificates.
  Investors may have tax liability in excess of cash.
  Investors may not receive cash if apartment complexes are sold
  4




---



##### Table of Contents



- The necessity of obtaining the consent of the operating general partners;- The
necessity of obtaining the approval of any governmental agency(ies)
providing government assistance to the apartment complex; and- The uncertainty of the market.
  We have insufficient sources of cash to pay its existing liabilities.
  
   
    5




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Briarwood Apartments
    
    Cameron, MO
    
    24
    
    $607,697
    
    12/89
    
    12/89
    
    100%
    
    $157,254Creekside Apartments
    
    Vandergrift, PA
    
    30
    
    1,252,684
    
    6/89
    
    9/89
    
    100%
    
    247,790Deer Hill II Apartments
    
    Huntersville, NC
    
    40
    
    1,438,945
    
    2/90
    
    5/89
    
    100%
    
    333,370Hillandale Commons
    
    Lithonia, GA
    
    132
    
    4,370,266
    
    12/89
    
    1/90
    
    100%
    
    1,138,907Lebanon Properties II
    
    Lebanon, MO
    
    24
    
    560,457
    
    12/89
    
    7/89
    
    100%
    
    136,440Oak Grove Estates
    
    Oak Grove, MO
    
    20
    
    471,968
    
    12/89
    
    9/89
    
    100%
    
    113,188Oakview Apartments
    
    Delta, OH
    
    38
    
    1,105,948
    
    12/89
    
    10/89
    
    100%
    
    258,264
 6




---



##### Table of Contents



Continued
 Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Westwood Square Apartments
    
    Moore Head City, NC
    
    36
    
    $1,370,622
    
    7/90
    
    7/90
    
    100%
    
    $117,286
 7




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Azalea Village Apartments
    
    Crawford, GA
    
    24
    
    $623,474
    
    5/90
    
    5/90
    
    100%
    
    $143,206Beaver Brook Commons
    
    Pelham, NH
    
    24
    
    1,154,618
    
    4/90
    
    5/90
    
    91%
    
    290,403Big Lake Seniors
    
    Big Lake, TX
    
    20
    
    539,096
    
    4/94
    
    6/95
    
    100%
    
    145,660Blanco Senior Apts.
    
    Blanco, TX
    
    20
    
    504,184
    
    12/93
    
    9/94
    
    100%
    
    98,561Cotton Mill Apartments
    
    Stuart, VA
    
    40
    
    1,430,303
    
    10/92
    
    7/93
    
    100%
    
    271,351Country Lane Apts.
    
    Blakely, GA
    
    32
    
    1,024,766
    
    5/90
    
    5/90
    
    100%
    
    211,916
 8




---



##### Table of Contents



Continued
 Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Fawn River Apartments
    
    Sturgis, MI
    
    100
    
    $3,615,028
    
    10/90
    
    10/90
    
    100%
    
    $971,446Garden Lake Apartments
    
    Immokalee, FL
    
    65
    
    2,145,703
    
    5/90
    
    5/90
    
    100%
    
    577,529Glenwood Hotel
    
    Porterville, CA
    
    36
    
    629,185
    
    6/90
    
    6/90
    
    100%
    
    383,100Grand Princess Manor
    
    St. Croix, USVI
    
    24
    
    1,459,799
    
    6/90
    
    8/90
    
    100%
    
    374,766Grand Princess Villa
    
    St. Croix, USVI
    
    24
    
    1,458,825
    
    6/90
    
    8/90
    
    100%
    
    276,203Grifton Manor Apts.
    
    Grifton, NC
    
    40
    
    1,204,396
    
    9/93
    
    2/94
    
    100%
    
    261,645Hacienda Villa Apartments
    
    Firebaugh, CA
    
    120
    
    3,465,729
    
    4/90
    
    1/90
    
    100%
    
    1,343,294Haines City Apartments
    
    Haines City, FL
    
    46
    
    1,407,724
    
    4/90
    
    2/90
    
    100%
    
    339,465Hamlet Square
    
    Newfane, NY
    
    24
    
    872,784
    
    10/92
    
    9/92
    
    96%
    
    193,830Hill St. Commons
    
    South Paris, ME
    
    25
    
    1,449,778
    
    11/92
    
    10/92
    
    100%
    
    301,064Kristin Park Apartments
    
    Las Vegas, NV
    
    44
    
    1,358,710
    
    3/90
    
    6/90
    
    100%
    
    313,200
 9




---



##### Table of Contents



Continued
 Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Le Grand Apts.
    
    Le Grand, CA
    
    34
    
    $1,689,640
    
    11/92
    
    10/93
    
    100%
    
    $419,011Longmeadow Apartments
    
    Skowhegan, ME
    
    28
    
    1,447,429
    
    8/90
    
    8/90
    
    100%
    
    284,000Magnolia Lane Apartments
    
    Bloomingdale, GA
    
    48
    
    1,440,549
    
    5/90
    
    3/90
    
    100%
    
    321,908Meadowcrest Southfield, Apartments
    
    Southfield, MI
    
    83
    
    2,745,417
    
    9/90
    
    10/90
    
    100%
    
    1,116,284Mill Pond Apartments
    
    Brooklyn, MI
    
    36
    
    1,079,144
    
    5/90
    
    5/90
    
    100%
    
    250,175Pinewoods Apartments
    
    Springfield, IL
    
    168
    
    3,977,639
    
    6/90
    
    6/91
    
    100%
    
    1,258,700Pine Ridge Place
    
    Polkton, NC
    
    16
    
    620,047
    
    1/94
    
    12/93
    
    100%
    
    114,730Pleasanton Seniors Apts.
    
    Pleasanton, TX
    
    24
    
    601,552
    
    12/93
    
    7/93
    
    100%
    
    144,839Putney Meadows Apts
    
    Putney, VT
    
    28
    
    1,396,953
    
    12/92
    
    5/93
    
    100%
    
    374,495
 10




---



##### Table of Contents



Continued
 Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Quail Hollow II
    
    Raleigh, NC
    
    36
    
    $1,371,684
    
    7/90
    
    9/90
    
    100%
    
    $313,521Rainbow Gardens Apartments
    
    Dunnellon, FL
    
    36
    
    1,181,645
    
    12/92
    
    6/93
    
    100%
    
    236,763Raitt Street Apts.
    
    Santa Ana, CA
    
    6
    
    842,737
    
    5/93
    
    8/93
    
    100%
    
    416,200School St. Apts. II
    
    Marshall, WI
    
    24
    
    624,063
    
    6/93
    
    6/93
    
    100%
    
    652,967Scottsville Hollow
    
    Scottsville, NY
    
    36
    
    1,389,880
    
    5/90
    
    5/90
    
    100%
    
    304,060St. Pauls Apartments
    
    St. Paul, NC
    
    32
    
    1,236,935
    
    5/90
    
    9/90
    
    100%
    
    263,165Surry Village II
    
    Surry, VA
    
    24
    
    843,383
    
    5/90
    
    1/90
    
    100%
    
    157,002Tappahannock Greens Apts.
    
    Tappahannock, VA
    
    40
    
    1,460,796
    
    3/94
    
    5/94
    
    100%
    
    293,486Telluride Apartments
    
    Telluride, CO
    
    30
    
    1,440,426
    
    9/90
    
    11/90
    
    100%
    
    300,033Twin Oaks Apartments
    
    Raeford, NC
    
    28
    
    1,110,415
    
    5/90
    
    5/90
    
    100%
    
    275,894
 11




---



##### Table of Contents



Continued
 Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Village Oaks Apartments II
    
    Live Oak, FL
    
    24
    
    $714,625
    
    6/90
    
    2/90
    
    100%
    
    $164,291Westside Apartments
    
    Providence, RI
    
    40
    
    2,199,230
    
    6/90
    
    12/90
    
    100%
    
    1,777,738Westwood
Square Apartments
    
    Moorehead City, NC
    
    36
    
    1,370,622
    
    7/90
    
    7/90
    
    100%
    
    195,391
 12




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Athens Park Apartments
    
    Athens, AL
    
    48
    
    $1,308,129
    
    8/90
    
    6/90
    
    100%
    
    $354,144Autumn Lane Apartments
    
    Washington, GA
    
    24
    
    717,926
    
    8/89
    
    11/90
    
    100%
    
    168,234Baytree Apartments
    
    Richlands, NC
    
    24
    
    936,993
    
    11/88
    
    7/90
    
    100%
    
    210,999Benchmark Apartments
    
    China Grove, NC
    
    24
    
    1,086,606
    
    11/88
    
    7/90
    
    100%
    
    223,328Berkshire Apartments II
    
    Wichita, KS
    
    66
    
    1,635,896
    
    7/90
    
    7/90
    
    100%
    
    1,183,452Brentwood Apartments
    
    Eunice, LA
    
    32
    
    933,763
    
    11/90
    
    10/90
    
    100%
    
    205,470Briarwood Apartments
    
    Middleburg, FL
    
    52
    
    1,448,443
    
    8/90
    
    8/90
    
    100%
    
    509,251Butler Manor Apartments
    
    Morgantown, KY
    
    16
    
    490,644
    
    12/90
    
    2/91
    
    100%
    
    119,952Campbell Creek Apartments
    
    Dallas, GA
    
    80
    
    1,413,266
    
    12/91
    
    10/90
    
    100%
    
    735,000Candlewick Place
    
    Monroeville, AL
    
    40
    
    1,223,715
    
    12/92
    
    10/92
    
    100%
    
    241,600Cedarstone Apts.
    
    Poplarville, MS
    
    24
    
    754,415
    
    5/93
    
    5/93
    
    100%
    
    180,800Charlton Court Apartments
    
    Folkston, GA
    
    40
    
    1,170,623
    
    12/92
    
    1/93
    
    100%
    
    263,520
 13




---



##### Table of Contents



Continued
 Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Chuckatuck Square
    
    Suffolk VA
    
    42
    
    $1,441,053
    
    11/90
    
    2/90
    
    100%
    
    $320,900Cloverleaf Apartments
    
    Bishopville, SC
    
    24
    
    834,448
    
    11/90
    
    4/90
    
    100%
    
    153,900Cloverleaf Apts., Phase II
    
    Bishopville, SC
    
    24
    
    853,200
    
    11/90
    
    4/90
    
    100%
    
    160,761Hartway Apts.
    
    Munfordville, KY
    
    32
    
    892,275
    
    7/90
    
    6/90
    
    100%
    
    239,041Ironton Estates
    
    Ironton, MO
    
    24
    
    604,157
    
    5/93
    
    1/93
    
    100%
    
    157,976Lambert Square Apts.
    
    Lambert, MS
    
    32
    
    962,903
    
    11/92
    
    12/92
    
    100%
    
    192,347Longview Apartments
    
    Maysville, NC
    
    24
    
    853,262
    
    11/88
    
    8/90
    
    100%
    
    195,837Maidu Village
    
    Roseville, CA
    
    81
    
    1,680,774
    
    3/91
    
    12/91
    
    100%
    
    470,000
 14




---



##### Table of Contents



Continued
 Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Meadowbrook Lane Apartments
    
    Americus, GA
    
    50
    
    1,441,429
    
    9/90
    
    3/90
    
    100%
    
    336,264Melrose Lane Apartments
    
    Great Falls, SC
    
    24
    
    874,891
    
    11/90
    
    10/90
    
    100%
    
    203,645Pecan Village Apartments
    
    Ellaville, GA
    
    30
    
    767,477
    
    7/90
    
    2/90
    
    100%
    
    221,856Pine View Apartments
    
    Perry, FL
    
    29
    
    938,810
    
    9/90
    
    12/90
    
    100%
    
    277,405Pines by the Creek Apts.
    
    Newnan, GA
    
    96
    
    1,840,539
    
    12/90
    
    10/90
    
    100%
    
    890,000Pine Grove Apts.
    
    Ackerman, MS
    
    24
    
    517,368
    
    9/93
    
    6/94
    
    100%
    
    169,926Pinetree Manor Apts.
    
    Centreville, MS
    
    32
    
    957,317
    
    11/92
    
    1/93
    
    100%
    
    191,500Rosewood Village Apartments
    
    Willacoochee, GA
    
    24
    
    634,330
    
    7/90
    
    7/90
    
    100%
    
    147,480
 15




---



##### Table of Contents



Continued
 Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Springwood Park Apartments
    
    Durham, NC
    
    100
    
    $2,621,179
    
    3/91
    
    5/91
    
    100%
    
    $1,000,000Stockton Estates
    
    Stockton, MO
    
    20
    
    430,342
    
    2/93
    
    1/93
    
    100%
    
    120,352Stratford Square Apartments
    
    Brundidge, AL
    
    24
    
    735,021
    
    10/92
    
    2/93
    
    100%
    
    145,036Summer Glen Apartments
    
    Immokalee, FL
    
    45
    
    1,443,711
    
    11/92
    
    3/93
    
    100%
    
    246,230Sunmark Apartments
    
    Morgantown, KY
    
    24
    
    751,617
    
    8/90
    
    12/90
    
    100%
    
    176,669Woodside Apartments
    
    Lisbon, ME
    
    28
    
    1,449,053
    
    12/90
    
    11/90
    
    100%
    
    397,630
 16




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Academy Hill Apartments
    
    Ahoskie, NC
    
    40
    
    $1,345,895
    
    2/91
    
    2/91
    
    100%
    
    $319,224Aspen Square Apartments
    
    Tazewell, VA
    
    60
    
    1,794,910
    
    11/90
    
    11/90
    
    100%
    
    356,495Bridgeview Apartments
    
    Emlenton, PA
    
    36
    
    1,330,582
    
    12/90
    
    12/89
    
    100%
    
    327,257Buckeye Senior Apartments
    
    Buckeye, AZ
    
    41
    
    1,309,013
    
    12/90
    
    8/90
    
    100%
    
    311,480Campbell Creek Apartments
    
    Dallas, GA
    
    80
    
    1,413,266
    
    12/90
    
    10/90
    
    100%
    
    142,000Cambridge Manor Apartments
    
    Macon, MS
    
    47
    
    1,574,752
    
    5/93
    
    4/93
    
    100%
    
    356,356Church Hill Apartments
    
    Church Point, LA
    
    32
    
    933,907
    
    12/90
    
    1/91
    
    100%
    
    205,750Copper Creek Apartments
    
    Lebanon, VA
    
    36
    
    1,148,966
    
    11/90
    
    9/90
    
    100%
    
    237,647Coronado Hotel
    
    Tuscon, AZ
    
    42
    
    
    
    3/91
    
    3/91
    
    100%
    
    614,050Crestwood Apartments
    
    St. Cloud, FL
    
    216
    
    3,480,724
    
    1/91
    
    6/91
    
    100%
    
    5,636,484El Dorado Springs Est.
    
    El Dorado Springs, MO
    
    24
    
    567,274
    
    11/90
    
    9/90
    
    100%
    
    133,790
 17




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Elmwood Manor
Apartments
    
    Eutaw, AL
    
    
    47
    
    
    
    1,585,309
    
    
    
    5/93
    
    
    
    12/93
    
    
    
    100
    %
    
    
    333,440Fairridge Lane
Apartments
    
    Denmark, SC
    
    
    24
    
    
    
    799,532
    
    
    
    11/90
    
    
    
    6/90
    
    
    
    100
    %
    
    
    209,326Fairridge Village
Apartments
    
    Denmark, SC
    
    
    24
    
    
    
    752,785
    
    
    
    11/90
    
    
    
    6/90
    
    
    
    100
    %
    
    
    186,381Farmerville Square
Apts.
    
    Farmerville, LA
    
    
    32
    
    
    
    947,980
    
    
    
    1/91
    
    
    
    4/91
    
    
    
    100
    %
    
    
    212,280Franklin School
    
    Great Falls, MT
    
    
    40
    
    
    
    1,167,336
    
    
    
    10/90
    
    
    
    12/91
    
    
    
    100
    %
    
    
    1,453,270Hilltop Apts.
    
    Los Lunas, NM
    
    
    40
    
    
    
    1,384,932
    
    
    
    1/93
    
    
    
    11/92
    
    
    
    100
    %
    
    
    258,455Holland Meadows
    
    Holland, NY
    
    
    24
    
    
    
    880,268
    
    
    
    11/90
    
    
    
    6/90
    
    
    
    100
    %
    
    
    213,880Holley Grove
    
    Holley, NY
    
    
    24
    
    
    
    897,214
    
    
    
    11/90
    
    
    
    10/90
    
    
    
    100
    %
    
    
    207,360Ivan Woods Senior
Apts.
    
    Delta Township, MI
    
    
    90
    
    
    
    2,504,813
    
    
    
    2/91
    
    
    
    4/91
    
    
    
    100
    %
    
    
    1,184,275Kaplan Manor
Apartments
    
    Kaplan, LA
    
    
    32
    
    
    
    905,965
    
    
    
    12/90
    
    
    
    12/90
    
    
    
    100
    %
    
    
    198,460




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Lakewood Village
Apartments
    
    Lake Providence, LA
    
    
    32
    
    
    $
    934,033
    
    
    
    1/91
    
    
    
    5/91
    
    
    
    100
    %
    
    $
    223,827Licking Apartments
    
    Licking, MO
    
    
    16
    
    
    
    397,591
    
    
    
    11/91
    
    
    
    3/92
    
    
    
    100
    %
    
    
    90,436London Arms
    
    Miami Beach, FL
    
    
    58
    
    
    
    2,681,809
    
    
    
    12/90
    
    
    
    12/90
    
    
    
    100
    %
    
    
    937,961Maidu Village
    
    Roseville, CA
    
    
    81
    
    
    
    1,680,774
    
    
    
    3/91
    
    
    
    12/91
    
    
    
    100
    %
    
    
    530,000Nevada Manor
    
    Nevada, MO
    
    
    24
    
    
    
    632,655
    
    
    
    11/90
    
    
    
    10/90
    
    
    
    100
    %
    
    
    143,270Oatka Meadows
    
    Warsaw, NY
    
    
    24
    
    
    
    898,221
    
    
    
    11/90
    
    
    
    6/90
    
    
    
    100
    %
    
    
    206,670Osage Place
    
    Arkansas City, KS
    
    
    38
    
    
    
    1,204,728
    
    
    
    12/90
    
    
    
    12/90
    
    
    
    100
    %
    
    
    522,999Pines by the Creek
Apartments
    
    Newnan,  GA
    
    
    96
    
    
    
    1,840,539
    
    
    
    12/90
    
    
    
    10/90
    
    
    
    100
    %
    
    
    245,000Sandy Pines Manor
    
    Punta Gorda, FL
    
    
    44
    
    
    
    1,449,615
    
    
    
    12/90
    
    
    
    7/90
    
    
    
    100
    %
    
    
    399,977Sierra Springs
Apartments
    
    Tazewell, VA
    
    
    36
    
    
    
    1,150,045
    
    
    
    11/90
    
    
    
    11/90
    
    
    
    100
    %
    
    
    299,634South Fork Heights
    
    South Fork, CO
    
    
    48
    
    
    
    1,434,526
    
    
    
    2/91
    
    
    
    2/91
    
    
    
    100
    %
    
    
    343,358Twin Oaks Apartments
    
    Allendale, SC
    
    
    24
    
    
    
    764,815
    
    
    
    12/90
    
    
    
    9/90
    
    
    
    100
    %
    
    
    206,888




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Walnut Village
Apartments
    
    Manning, SC
    
    
    24
    
    
    $
    819,995
    
    
    
    11/90
    
    
    
    11/90
    
    
    
    100
    %
    
    $
    183,244Washington Manor
Apartments
    
    Washington, LA
    
    
    32
    
    
    
    936,221
    
    
    
    1/91
    
    
    
    3/91
    
    
    
    100
    %
    
    
    216,990Wildridge Apartments
    
    Jesup, GA
    
    
    48
    
    
    
    1,351,090
    
    
    
    1/91
    
    
    
    4/91
    
    
    
    100
    %
    
    
    329,130Windsor Apts.
    
    Metter, GA
    
    
    53
    
    
    
    1,428,416
    
    
    
    12/92
    
    
    
    5/93
    
    
    
    100
    %
    
    
    248,207




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Bowman Village
Apartments
    
    Bowman, GA
    
    
    24
    
    
    $
    651,051
    
    
    
    6/91
    
    
    
    10/91
    
    
    
    100
    %
    
    $
    139,879Brandywood
Apartments
    
    Oak Creek, WI
    
    
    54
    
    
    
    1,607,958
    
    
    
    12/91
    
    
    
    9/91
    
    
    
    100
    %
    
    
    1,532,506Brentwood Manor
Apartments
    
    Clarkson, KY
    
    
    24
    
    
    
    724,487
    
    
    
    6/91
    
    
    
    7/91
    
    
    
    100
    %
    
    
    173,969Briarwick Apartments
    
    Nicholasville, KY
    
    
    40
    
    
    
    1,182,989
    
    
    
    4/91
    
    
    
    4/91
    
    
    
    100
    %
    
    
    323,941Bridgerun Townhomes
    
    Cannon Falls, MN
    
    
    18
    
    
    
    521,049
    
    
    
    6/91
    
    
    
    7/91
    
    
    
    100
    %
    
    
    458,800Bucksport Park
Apartments
    
    Bucksport, ME
    
    
    24
    
    
    
    1,341,122
    
    
    
    6/91
    
    
    
    8/91
    
    
    
    100
    %
    
    
    334,600Cananche Creek
Apartments
    
    Norton, VA
    
    
    36
    
    
    
    1,207,958
    
    
    
    5/91
    
    
    
    6/91
    
    
    
    100
    %
    
    
    276,695Carson Village
Apartments
    
    Wrightsville, GA
    
    
    24
    
    
    
    637,237
    
    
    
    10/91
    
    
    
    6/92
    
    
    
    100
    %
    
    
    161,452Clymer House
Apartments
    
    Clymer, PA
    
    
    26
    
    
    
    1,091,695
    
    
    
    6/91
    
    
    
    10/91
    
    
    
    100
    %
    
    
    254,097Corcoran Garden
Apartments
    
    Corcoran, CA
    
    
    38
    
    
    
    1,584,793
    
    
    
    2/91
    
    
    
    11/90
    
    
    
    100
    %
    
    
    432,438Cornish Park
    
    Cornish, ME
    
    
    25
    
    
    
    1,423,136
    
    
    
    6/91
    
    
    
    6/91
    
    
    
    100
    %
    
    
    333,000




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Crescent City
Senior Apartments
    
    Crescent City, CA
    
    
    38
    
    
    $
    2,085,223
    
    
    
    3/91
    
    
    
    3/91
    
    
    
    100
    %
    
    $
    474,536Earlimart Senior
Apartments
    
    Earlimart, CA
    
    
    35
    
    
    
    1,315,853
    
    
    
    6/91
    
    
    
    6/91
    
    
    
    100
    %
    
    
    364,515Evanwood Apartments
    
    Hardinsburg, KY
    
    
    24
    
    
    
    735,515
    
    
    
    6/91
    
    
    
    5/91
    
    
    
    100
    %
    
    
    167,221Fox Run Apartments
    
    Jesup, GA
    
    
    24
    
    
    
    558,675
    
    
    
    12/91
    
    
    
    7/92
    
    
    
    100
    %
    
    
    150,033Hamilton Village
Apartments
    
    Preston, GA
    
    
    20
    
    
    
    556,040
    
    
    
    10/91
    
    
    
    3/92
    
    
    
    100
    %
    
    
    140,948Hunters Park
Apartments
    
    Tarboro, NC
    
    
    40
    
    
    
    1,378,926
    
    
    
    5/91
    
    
    
    4/91
    
    
    
    100
    %
    
    
    320,175Ivan Woods Senior
Apartments
    
    Delta Township, MI
    
    
    90
    
    
    
    2,504,813
    
    
    
    2/91
    
    
    
    4/91
    
    
    
    100
    %
    
    
    778,688Keenland Apartments
    
    Burkesville, KY
    
    
    24
    
    
    
    718,662
    
    
    
    6/91
    
    
    
    9/91
    
    
    
    100
    %
    
    
    164,246Lakeridge Apartments
    
    Eufala, AL
    
    
    30
    
    
    
    896,130
    
    
    
    3/91
    
    
    
    4/91
    
    
    
    100
    %
    
    
    186,780Laurel Village
Apartments
    
    Wadley, GA
    
    
    24
    
    
    
    646,377
    
    
    
    10/91
    
    
    
    5/92
    
    
    
    100
    %
    
    
    149,058




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Los Caballos II
Apts.
    
    Hatch, NM
    
    
    24
    
    
    $
    699,594
    
    
    
    7/91
    
    
    
    8/91
    
    
    
    100
    %
    
    $
    164,740Marlboro Place
Apartments
    
    Bennettsville, SC
    
    
    24
    
    
    
    816,954
    
    
    
    3/91
    
    
    
    2/91
    
    
    
    100
    %
    
    
    192,779Melville Plaza
Apartments
    
    Melville, LA
    
    
    32
    
    
    
    871,296
    
    
    
    7/91
    
    
    
    10/91
    
    
    
    100
    %
    
    
    178,564Nanty Glo House
Apartments
    
    Nanty Glo, PA
    
    
    36
    
    
    
    1,443,432
    
    
    
    6/91
    
    
    
    7/91
    
    
    
    100
    %
    
    
    353,000Newport Village
    
    Franklin, VA
    
    
    48
    
    
    
    1,451,996
    
    
    
    4/91
    
    
    
    11/90
    
    
    
    100
    %
    
    
    355,000Oakleigh Apartments
    
    Abbeville, LA
    
    
    32
    
    
    
    892,248
    
    
    
    8/91
    
    
    
    3/92
    
    
    
    100
    %
    
    
    178,716Oakwood Apartments
    
    Mamou, LA
    
    
    32
    
    
    
    882,362
    
    
    
    8/91
    
    
    
    1/92
    
    
    
    100
    %
    
    
    180,819Pines by the Creek
Apartments
    
    Newnan, GA
    
    
    96
    
    
    
    1,840,539
    
    
    
    3/91
    
    
    
    10/90
    
    
    
    100
    %
    
    
    645,000Pinewoods Apartments
    
    Springfield, IL
    
    
    168
    
    
    
    3,977,639
    
    
    
    7/91
    
    
    
    6/91
    
    
    
    100
    %
    
    
    2,880,000Portales Estates
    
    Portales, NM
    
    
    44
    
    
    
    1,407,955
    
    
    
    7/91
    
    
    
    7/91
    
    
    
    100
    %
    
    
    365,100




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Prairie West Apts.
III
    
    West Fargo, ND
    
    
    24
    
    
    $
    456,160
    
    
    
    3/91
    
    
    
    3/91
    
    
    
    100
    %
    
    $
    360,698Ridgeway Court III
Apartments
    
    Bemidji, MN
    
    
    24
    
    
    
    883,548
    
    
    
    4/91
    
    
    
    1/91
    
    
    
    100
    %
    
    
    180,186Rockmoor Apartments
    
    Banner Elk, NC
    
    
    12
    
    
    
    549,900
    
    
    
    5/91
    
    
    
    3/91
    
    
    
    100
    %
    
    
    95,818Shawnee Ridge
Apartments
    
    Norton, VA
    
    
    20
    
    
    
    652,398
    
    
    
    5/91
    
    
    
    5/91
    
    
    
    100
    %
    
    
    145,606Springwood Park
Apartments
    
    Durham, NC
    
    
    100
    
    
    
    2,621,179
    
    
    
    3/91
    
    
    
    5/91
    
    
    
    100
    %
    
    
    374,349Turner Lane
Apartments
    
    Ashburn, GA
    
    
    24
    
    
    
    705,579
    
    
    
    5/91
    
    
    
    7/91
    
    
    
    100
    %
    
    
    147,090Union Baptist Plaza
Apartments
    
    Springfield, IL
    
    
    24
    
    
    
    356,735
    
    
    
    5/91
    
    
    
    4/91
    
    
    
    100
    %
    
    
    432,648




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Uptown Apartments
    
    Salyersville, KY
    
    
    16
    
    
    $
    507,174
    
    
    
    5/91
    
    
    
    3/91
    
    
    
    100
    %
    
    $
    121,700Villas of Lakeridge
    
    Eufala, AL
    
    
    18
    
    
    
    520,110
    
    
    
    3/91
    
    
    
    3/91
    
    
    
    100
    %
    
    
    96,868Waynesboro Village
Apartments
    
    Waynesboro, TN
    
    
    48
    
    
    
    1,341,552
    
    
    
    4/91
    
    
    
    1/91
    
    
    
    100
    %
    
    
    310,510Windsor Court II
    
    Windsor, VA
    
    
    24
    
    
    
    780,413
    
    
    
    4/91
    
    
    
    11/90
    
    
    
    100
    %
    
    
    169,347Woodcrest Manor
Apartments
    
    Woodville, MS
    
    
    24
    
    
    
    693,344
    
    
    
    6/91
    
    
    
    11/91
    
    
    
    100
    %
    
    
    138,579Woodlawn Village
Apartments
    
    Abbeville, GA
    
    
    36
    
    
    
    989,816
    
    
    
    10/91
    
    
    
    4/92
    
    
    
    100
    %
    
    
    229,601Woodside Apartments
    
    Grove City, PA
    
    
    32
    
    
    
    1,128,928
    
    
    
    4/91
    
    
    
    3/91
    
    
    
    100
    %
    
    
    229,291Yorkshire Townhome
Apts.
    
    Fort Smith, AR
    
    
    50
    
    
    
    695,486
    
    
    
    9/93
    
    
    
    8/94
    
    
    
    98
    %
    
    
    874,069




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Ada Village Apts.
    
    Ada, OK
    
    
    44
    
    
    $
    989,327
    
    
    
    1/93
    
    
    
    11/93
    
    
    
    100
    %
    
    $
    158,976Amherst Village
    
    Amherst, VA
    
    
    48
    
    
    
    1,551,147
    
    
    
    1/92
    
    
    
    1/92
    
    
    
    100
    %
    
    
    322,796Belmont Village
Court
    
    Belmont, NY
    
    
    24
    
    
    
    904,690
    
    
    
    1/92
    
    
    
    12/91
    
    
    
    100
    %
    
    
    201,300Bethel Park
Apartments
    
    Bethel, ME
    
    
    24
    
    
    
    1,454,373
    
    
    
    12/91
    
    
    
    3/92
    
    
    
    100
    %
    
    
    324,100Blanchard Senior
Apts. II
    
    Blanchard, LA
    
    
    24
    
    
    
    583,254
    
    
    
    10/91
    
    
    
    9/91
    
    
    
    100
    %
    
    
    143,628Blanchard Village
Apts.
    
    Blanchard, OK
    
    
    8
    
    
    
    209,006
    
    
    
    1/93
    
    
    
    7/93
    
    
    
    100
    %
    
    
    32,954Brantwood Lane
Apartments
    
    Centreville, AL
    
    
    36
    
    
    
    1,118,266
    
    
    
    7/91
    
    
    
    9/91
    
    
    
    100
    %
    
    
    237,873Breckenridge
Apartments
    
    McColl, SC
    
    
    24
    
    
    
    847,589
    
    
    
    1/92
    
    
    
    3/92
    
    
    
    100
    %
    
    
    186,065Briarwood
Apartments Ph II
    
    Middleburg, FL
    
    
    50
    
    
    
    1,456,326
    
    
    
    2/92
    
    
    
    4/92
    
    
    
    100
    %
    
    
    293,694The Bridge Building
    
    New York, NY
    
    
    15
    
    
    
    
    
    
    
    1/92
    
    
    
    12/91
    
    
    
    100
    %
    
    
    1,037,770Buchanan Court
    
    Warren, PA
    
    
    18
    
    
    
    708,824
    
    
    
    7/91
    
    
    
    11/90
    
    
    
    100
    %
    
    
    160,600Burnt Ordinary
Village
    
    Toano, VA
    
    
    22
    
    
    
    693,226
    
    
    
    7/91
    
    
    
    7/91
    
    
    
    100
    %
    
    
    159,400




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Carleton Court
Apartments
    
    Providence RI
    
    
    46
    
    
    $
    2,944,870
    
    
    
    12/91
    
    
    
    12/91
    
    
    
    100
    %
    
    $
    1,496,922Carriage Run
Apartments
    
    Emporia, VA
    
    
    40
    
    
    
    1,270,315
    
    
    
    10/91
    
    
    
    4/92
    
    
    
    100
    %
    
    
    259,980Cedar View
Apartments
    
    Brinkley, AR
    
    
    32
    
    
    
    1,236,031
    
    
    
    5/92
    
    
    
    10/92
    
    
    
    100
    %
    
    
    254,016Cedarwood Apartments
    
    Pembroke, NC
    
    
    36
    
    
    
    1,382,080
    
    
    
    10/91
    
    
    
    1/92
    
    
    
    100
    %
    
    
    326,310Chapparral
Apartments
    
    Kingman, AZ
    
    
    20
    
    
    
    680,340
    
    
    
    8/91
    
    
    
    7/91
    
    
    
    100
    %
    
    
    198,275College Green
    
    Chili, NY
    
    
    110
    
    
    
    4,050,000
    
    
    
    3/95
    
    
    
    8/95
    
    
    
    100
    %
    
    
    755,771Colorado City
Seniors Apartments
    
    Colorado City, TX
    
    
    24
    
    
    
    530,640
    
    
    
    10/91
    
    
    
    10/91
    
    
    
    100
    %
    
    
    98,721Cottonwood Apts. II
    
    Cottonport LA
    
    
    24
    
    
    
    640,432
    
    
    
    10/91
    
    
    
    7/91
    
    
    
    100
    %
    
    
    152,664Country Meadows
Apartments
    
    Sioux Falls, SD
    
    
    44
    
    
    
    865,905
    
    
    
    11/91
    
    
    
    10/91
    
    
    
    100
    %
    
    
    922,350Countryside Manor
    
    Fulton, MS
    
    
    24
    
    
    
    652,021
    
    
    
    10/91
    
    
    
    8/91
    
    
    
    100
    %
    
    
    151,868Davis Village Apts.
    
    Davis, OK
    
    
    44
    
    
    
    1,117,807
    
    
    
    1/93
    
    
    
    9/93
    
    
    
    100
    %
    
    
    180,452Devenwood Apartments
    
    Ridgeland, SC
    
    
    24
    
    
    
    850,152
    
    
    
    7/92
    
    
    
    1/93
    
    
    
    100
    %
    
    
    186,000




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Duncan Village Apts.
    
    Duncan, OK
    
    
    48
    
    
    $
    1,070,654
    
    
    
    1/93
    
    
    
    11/93
    
    
    
    100
    %
    
    $
    172,005Edison Village
Apartments
    
    Edison, GA
    
    
    42
    
    
    
    1,165,116
    
    
    
    7/91
    
    
    
    2/92
    
    
    
    100
    %
    
    
    274,144Ethel Bowman Proper House
    
    Tionesta, PA
    
    
    36
    
    
    
    1,395,167
    
    
    
    2/92
    
    
    
    1/92
    
    
    
    100
    %
    
    
    334,160Excelsior Springs
Properties
    
    Excelsior Springs, MO
    
    
    24
    
    
    
    609,214
    
    
    
    2/92
    
    
    
    4/91
    
    
    
    100
    %
    
    
    150,651Fairground Place
Apts.
    
    Bedford, KY
    
    
    19
    
    
    
    678,570
    
    
    
    3/95
    
    
    
    8/95
    
    
    
    100
    %
    
    
    176,963Four Oaks Village
Apartments
    
    Four Oaks, NC
    
    
    24
    
    
    
    872,258
    
    
    
    3/92
    
    
    
    6/92
    
    
    
    100
    %
    
    
    179,900Franklin Vista III
Apts.
    
    Anthony, NM
    
    
    28
    
    
    
    906,700
    
    
    
    1/92
    
    
    
    4/92
    
    
    
    100
    %
    
    
    179,685Friendship Village
    
    Bel Air, MD
    
    
    32
    
    
    
    1,408,490
    
    
    
    1/92
    
    
    
    6/91
    
    
    
    100
    %
    
    
    226,000




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Green Village Apts.
II
    
    Standardsville, VA
    
    
    16
    
    
    $
    571,951
    
    
    
    4/92
    
    
    
    11/91
    
    
    
    100
    %
    
    $
    99,100Greenleaf Apartments
    
    Bowdoinham, ME
    
    
    21
    
    
    
    1,102,525
    
    
    
    11/91
    
    
    
    8/92
    
    
    
    100
    %
    
    
    295,085Hughes Springs
Seniors Apartments
    
    Hughes Springs, TX
    
    
    32
    
    
    
    770,646
    
    
    
    10/91
    
    
    
    8/91
    
    
    
    100
    %
    
    
    183,674Harrison City Apts.
    
    Penn Township, PA
    
    
    38
    
    
    
    1,446,683
    
    
    
    7/92
    
    
    
    9/92
    
    
    
    100
    %
    
    
    311,775Hessmer Village
Apartments
    
    Hessmer, LA
    
    
    32
    
    
    
    887,541
    
    
    
    12/91
    
    
    
    4/92
    
    
    
    100
    %
    
    
    186,503Hillmont Village
Apartments
    
    Micro, NC
    
    
    24
    
    
    
    863,111
    
    
    
    9/91
    
    
    
    1/92
    
    
    
    100
    %
    
    
    184,900Hunters Run
Apartments
    
    Douglas, GA
    
    
    50
    
    
    
    1,411,509
    
    
    
    12/91
    
    
    
    2/92
    
    
    
    100
    %
    
    
    322,368Indian Creek
Apartments
    
    Kilmarnock, VA
    
    
    20
    
    
    
    810,197
    
    
    
    7/91
    
    
    
    4/91
    
    
    
    100
    %
    
    
    174,400Jarratt Village Apartments
    
    Jarratt, VA
    
    
    24
    
    
    
    810,361
    
    
    
    10/91
    
    
    
    12/91
    
    
    
    100
    %
    
    
    159,140Kingfisher Village
Apts.
    
    Kingfisher, OK
    
    
    8
    
    
    
    152,794
    
    
    
    1/93
    
    
    
    12/93
    
    
    
    100
    %
    
    
    24,365




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06La Gema del Barrio
Apts.
    
    Santa Ana, CA
    
    
    6
    
    
    $
    649,699
    
    
    
    6/92
    
    
    
    8/92
    
    
    
    100
    %
    
    $
    458,000Lafayettee Gardens
Apartments
    
    Scott, LA
    
    
    56
    
    
    
    1,009,695
    
    
    
    10/91
    
    
    
    11/91
    
    
    
    100
    %
    
    
    437,688Lake Isabella
Senior Apartments
    
    Lake Isabella, CA
    
    
    46
    
    
    
    1,951,645
    
    
    
    9/91
    
    
    
    1/92
    
    
    
    100
    %
    
    
    442,457Lakeside ManorApartments
    
    Schroon Lake, NY
    
    
    24
    
    
    
    1,005,974
    
    
    
    11/91
    
    
    
    1/92
    
    
    
    96
    %
    
    
    249,349Lakeview Meadows
    
    Battle Creek, MI
    
    
    53
    
    
    
    1,469,405
    
    
    
    1/92
    
    
    
    6/92
    
    
    
    100
    %
    
    
    1,018,808Lakewood Terrace
Apts.
    
    Lakeland, FL
    
    
    132
    
    
    
    3,204,072
    
    
    
    11/93
    
    
    
    8/89
    
    
    
    100
    %
    
    
    725,312Lana Lu Apartments
    
    Lonaconing, MD
    
    
    30
    
    
    
    1,450,346
    
    
    
    12/91
    
    
    
    9/92
    
    
    
    100
    %
    
    
    303,261Lexington Village
Apts.
    
    Lexington, OK
    
    
    8
    
    
    
    200,165
    
    
    
    1/93
    
    
    
    11/93
    
    
    
    100
    %
    
    
    32,178Maidu Village
    
    Roseville, CA
    
    
    81
    
    
    
    1,680,774
    
    
    
    1/92
    
    
    
    12/91
    
    
    
    100
    %
    
    
    1,096,199Marion Apartments
    
    Manor Marion, LA
    
    
    32
    
    
    
    978,112
    
    
    
    2/92
    
    
    
    6/92
    
    
    
    100
    %
    
    
    199,708Maysville Village
Apts.
    
    Maysville, OK
    
    
    8
    
    
    
    207,875
    
    
    
    1/93
    
    
    
    10/93
    
    
    
    100
    %
    
    
    33,726Montague Place
Apartments
    
    Caro, MI
    
    
    28
    
    
    
    1,113,509
    
    
    
    12/91
    
    
    
    12/91
    
    
    
    100
    %
    
    
    432,320




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Navapai Apartments
    
    Prescott Valley, AZ
    
    
    26
    
    
    $
    862,952
    
    
    
    6/91
    
    
    
    4/91
    
    
    
    100
    %
    
    $
    207,330Nevada City Senior
Apartments
    
    Grass Valley, CA
    
    
    60
    
    
    
    3,470,077
    
    
    
    1/92
    
    
    
    10/92
    
    
    
    100
    %
    
    $
    839,300Newellton Place
Apartments
    
    Newellton, LA
    
    
    32
    
    
    
    906,964
    
    
    
    2/92
    
    
    
    4/92
    
    
    
    100
    %
    
    
    190,600New River Overlook
Apartments
    
    Radford, VA
    
    
    40
    
    
    
    1,450,724
    
    
    
    8/91
    
    
    
    2/92
    
    
    
    100
    %
    
    
    285,371Oak Ridge Apartments
    
    Crystal Springs, MS
    
    
    40
    
    
    
    1,271,475
    
    
    
    1/92
    
    
    
    1/92
    
    
    
    100
    %
    
    
    308,578Oakland Village
Apts.
    
    Littleton, NC
    
    
    24
    
    
    
    832,506
    
    
    
    5/92
    
    
    
    8/92
    
    
    
    100
    %
    
    
    161,939Okemah Village Apts.
    
    Okemah, OK
    
    
    30
    
    
    
    660,532
    
    
    
    1/93
    
    
    
    5/93
    
    
    
    100
    %
    
    
    119,832Pineridge Apartments
    
    McComb, MS
    
    
    32
    
    
    
    984,742
    
    
    
    10/91
    
    
    
    10/91
    
    
    
    100
    %
    
    
    238,995Pineridge Elderly
    
    Walnut Cove, NC
    
    
    24
    
    
    
    948,990
    
    
    
    10/91
    
    
    
    3/92
    
    
    
    100
    %
    
    
    199,311Pittsfield Park
Apartments
    
    Pittsfield, ME
    
    
    18
    
    
    
    1,022,345
    
    
    
    12/91
    
    
    
    6/92
    
    
    
    100
    %
    
    
    237,300




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    Units
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Portville Square
Apartments
    
    Portville, NY
    
    
    24
    
    
    $
    871,095
    
    
    
    3/92
    
    
    
    3/92
    
    
    
    100
    %
    
    $
    198,100Prague Village Apts.
    
    Prague, OK
    
    
    8
    
    
    
    96,389
    
    
    
    1/93
    
    
    
    3/93
    
    
    
    100
    %
    
    $
    21,373Rainier Manor
Apartments
    
    Mt. Rainier, MD
    
    
    104
    
    
    
    3,544,759
    
    
    
    3/92
    
    
    
    1/93
    
    
    
    100
    %
    
    
    1,190,350Rosewood Manor
Apartments
    
    Ellenton, FL
    
    
    43
    
    
    
    1,408,189
    
    
    
    12/91
    
    
    
    11/91
    
    
    
    100
    %
    
    
    302,250San Jacinto Senior
Apartments
    
    San Jacinto, CA
    
    
    46
    
    
    
    2,320,773
    
    
    
    1/92
    
    
    
    10/91
    
    
    
    100
    %
    
    
    588,965Smithville
Properties
    
    Smithville, MO
    
    
    48
    
    
    
    1,217,100
    
    
    
    2/92
    
    
    
    5/91
    
    
    
    100
    %
    
    
    285,384Spring Creek Village
    
    Derby, KS
    
    
    72
    
    
    
    1,395,244
    
    
    
    6/91
    
    
    
    9/91
    
    
    
    100
    %
    
    
    1,634,760




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Spring Valley
Apartments
    
    Lexington Park, MD
    
    
    128
    
    
    $
    5,207,314
    
    
    
    11/91
    
    
    
    12/92
    
    
    
    100
    %
    
    $
    2,877,811Springwood Park
Apartments
    
    Durham, NC
    
    
    100
    
    
    
    2,621,179
    
    
    
    10/91
    
    
    
    5/91
    
    
    
    100
    %
    
    
    374,349Summer Lane
Apartments
    
    Santee, SC
    
    
    24
    
    
    
    855,629
    
    
    
    7/91
    
    
    
    11/91
    
    
    
    100
    %
    
    
    176,291Titusville
Apartments
    
    Titusville PA
    
    
    30
    
    
    
    1,210,205
    
    
    
    12/91
    
    
    
    1/92
    
    
    
    100
    %
    
    
    280,829Tyrone House
Apartments
    
    Tyrone, PA
    
    
    36
    
    
    
    1,448,658
    
    
    
    12/91
    
    
    
    1/92
    
    
    
    100
    %
    
    
    349,800Valley Ridge Senior
Apartments
    
    Central Valley, CA
    
    
    38
    
    
    
    1,780,620
    
    
    
    1/92
    
    
    
    12/91
    
    
    
    100
    %
    
    
    456,600Victoria Place
    
    Victoria, VA
    
    
    39
    
    
    
    1,323,794
    
    
    
    1/92
    
    
    
    6/92
    
    
    
    100
    %
    
    
    287,736Villa West Apts. IV
    
    Topeka, KS
    
    
    60
    
    
    
    1,273,761
    
    
    
    8/91
    
    
    
    1/91
    
    
    
    100
    %
    
    
    1,392,873Village Green
    
    Raleigh, NC
    
    
    42
    
    
    
    637,327
    
    
    
    5/92
    
    
    
    9/91
    
    
    
    100
    %
    
    
    581,446Washington Court
    
    Abingdon, VA
    
    
    39
    
    
    
    1,118,904
    
    
    
    7/91
    
    
    
    8/91
    
    
    
    100
    %
    
    
    295,250




---



##### Table of Contents



Mortgage
    
    
    
    
    
    
    
    
    
    
    
    
    
    Cap ConBalance
    
    
    
    
    
    
    
    
    
    Qualified
    
    PaidProperty
    
    
    
    
    
    
    
    As of
    
    Acq
    
    Const
    
    Occupancy
    
    ThruName
    
    Location
    
    Units
    
    12/31/05
    
    Date
    
    Comp
    
    3/31/06
    
    3/31/06Wesley Village
Apartments
    
    Martinsburg, WV
    
    
    36
    
    
    $
    1,279,747
    
    
    
    10/91
    
    
    
    6/92
    
    
    
    100
    %
    
    $
    266,253Wildwood Terrace
Apartments
    
    Wildwood, FL
    
    
    40
    
    
    
    1,237,040
    
    
    
    10/91
    
    
    
    10/91
    
    
    
    100
    %
    
    
    281,647Woodfield
Commons
Apartments
    
    Marshfield WI
    
    
    48
    
    
    
    
    
    
    
    9/91
    
    
    
    6/91
    
    
    
    100
    %
    
    
    1,126,901Woodside Apartments
    
    Belleview, FL
    
    
    41
    
    
    
    1,187,087
    
    
    
    11/91
    
    
    
    10/91
    
    
    
    100
    %
    
    
    268,500Wynnewood Village
Apts.
    
    Wynnewood, OK
    
    
    16
    
    
    
    378,226
    
    
    
    1/93
    
    
    
    11/93
    
    
    
    100
    %
    
    
    67,443




---



##### Table of Contents








---



##### Table of Contents



36




---



##### Table of Contents



March 31,
    
    
    March 31,
    
    
    March 31,
    
    
    March 31,
    
    
    March 31,2006
    
    
    2005
    
    
    2004
    
    
    2003
    
    
    2002OperationsInterest & other Inc
    
    $
    48,063
    
    
    $
    70,362
    
    
    $
    65,709
    
    
    $
    56,293
    
    
    $
    53,149Share of Income
(Loss)
Of Operating
Partnerships
    
    
    2,457,601
    
    
    
    (3,230,139
    )
    
    
    (4,482,965
    )
    
    
    (5,855,904
    )
    
    
    (5,815,333
    )Operating Exp
    
    
    4,711,222
    
    
    
    (5,425,508
    )
    
    
    (4,785,151
    )
    
    
    (4,034,177
    )
    
    
    (2,639,786
    )Net Loss
    
    $
    (2,205,558
    )
    
    $
    (8,585,285
    )
    
    $
    (9,202,407
    )
    
    $
    (9,833,788
    )
    
    $
    (8,401,970
    )Net Loss
per BAC
    
    $
    (.12
    )
    
    $
    (.46
    )
    
    $
    (.49
    )
    
    $
    (.52
    )
    
    $
    (.45
    )Balance SheetTotal Assets
    
    $
    8,597,063
    
    
    $
    13,110,125
    
    
    $
    20,278,411
    
    
    $
    29,506,804
    
    
    $
    38,568,793Total
Liabilites
    
    $
    29,550,925
    
    
    $
    30,278,230
    
    
    $
    28,861,231
    
    
    $
    26,412,221
    
    
    $
    24,871,101Capital
    
    $
    (20,953,862
    )
    
    $
    (17,168,105
    )
    
    $
    (8,582,820
    )
    
    $
    3,094,583
    
    
    $
    13,697,692
 37




---



##### Table of Contents



Item 7.
    
    Managements Discussion and Analysis of Financial Condition
and Results of Operations
  Liquidity
    38




---



##### Table of Contents



Capital Resources
        39




---



##### Table of Contents



40




---



##### Table of Contents



Results of Operations
        41




---



##### Table of Contents



42




---



##### Table of Contents



43




---



##### Table of Contents



, .
    44




---



##### Table of Contents



45




---



##### Table of Contents



46




---



##### Table of Contents



47




---



##### Table of Contents



48




---



##### Table of Contents



49




---



##### Table of Contents



50




---



##### Table of Contents



51




---



##### Table of Contents



52




---



##### Table of Contents



53




---



##### Table of Contents



54




---



##### Table of Contents



55




---



##### Table of Contents



56




---



##### Table of Contents



57




---



##### Table of Contents



58




---



##### Table of Contents



59




---



##### Table of Contents



60




---



##### Table of Contents



61




---



##### Table of Contents



62




---



##### Table of Contents



.
    63




---



##### Table of Contents



64




---



##### Table of Contents



65




---



##### Table of Contents



66




---



##### Table of Contents



67




---



##### Table of Contents



68




---



##### Table of Contents



69




---



##### Table of Contents



70




---



##### Table of Contents



71




---



##### Table of Contents



72




---



##### Table of Contents



73




---



##### Table of Contents



74




---



##### Table of Contents



75




---



##### Table of Contents



76




---



##### Table of Contents



77




---



##### Table of Contents



78




---



##### Table of Contents



79




---



##### Table of Contents



Contractual Obligations
  Obligation
    
    Total
    
    <1 year
    
    1-3 years
    
    3-5 years
    
    > 5 yearsCapital
Contributions
Payable
    
    $
    236,345
    
    
    $
    236,345
    
    
    
    
    
    
    
    
    
    
    
    Asset Management
Fees Payable to
Affiliates
    
    $
    28,338,745
    
    
    $
    28,338,745
    *
    
    
    
    
    
    
    
    
    
    
    
 
 *
    
    Although currently due, Accrued Asset Management Fees will be paid only to the extent that
proceeds from the sale or refinance of an Operating Partnership become available. Off Balance Sheet Arrangements
  Principal Accounting Policies and Estimates
    80




---



##### Table of Contents



81




---



##### Table of Contents



Item 7a.
    
    Quantitative and Qualitative Disclosure About Market Risk- Not
Applicable
 
 Item 8.
    
    Financial Statements and Supplementary Data
The financial statements of the Partnership are listed in Item 15
as being filed as a part of this Report as Exhibits 13 are
incorporated herein by reference.
 
 Item 9.
    
    Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure
 None.
 
 Item 9a.
    
    Controls & Procedures
 (a)
    
    Evaluation of Disclosure Controls and ProceduresAs of the end of the period covered by this report, the
Partnerships General Partner, under the supervision and
with the participation of the Principle Executive
Officer and Principle Financial Officer of C&M
Management, Inc. carried out an evaluation of the
effectiveness of the Funds disclosure controls and
procedures as defined in the Securities Exchange Act of
1934 Rules 13a-15 and 15d-15. Based on that evaluation,
the Principle Executive Officer and Principal Financial
Officer have concluded that as of the end of the period
covered by this report, the Funds disclosure controls
and procedures were adequate and effective in timely
alerting them to material information relating to the
Fund required to be included in the Partnerships
periodic SEC filings.(b)
    
    Changes in Internal ControlsThere were no changes in the Partnerships internal
control over financial reporting that occurred during
the quarter ended March 31, 2006 that materially
affected, or are reasonably likely to materially affect,
the Partnerships internal control over financial
reporting.
 82




---



##### Table of Contents



PART III
 
 Item 10.
    
    Directors and Executive Officers of the Registrant
 (a), (b), (c), (d) and (e)
  John P. Manning
  Richard J. DeAgazio,
 83




---



##### Table of Contents



Jeffrey H. Goldstein,
 Kevin P. Costello,
 Marc N. Teal,
 84




---



##### Table of Contents



(f)
    
    Involvement in certain legal proceedings.None.(g)
    
    Promoters and control persons.None.(h)
    
    and (i) The Partnership has no directors or executive officers and
accordingly has no audit committee and no audit committee
financial expert. The Partnership is not a listed issuer as
defined in Regulation 10A-3 promulgated under the Securities
Exchange Act of 1934.The General Partner of the Partnership, Boston Capital
Associates LP, has adopted a Code of Ethics which applies to
the Principle Executive Officer and Principle Financial
Officer of C&M Management, Inc. The Code of Ethics will be
provided without charge to any person who requests it. Such
request should be directed to, Marc N. Teal Boston Capital
Corp. One Boston Place Boston, MA 02108.
 
  (a), (b), (c), (d) and (e)
   85




---



##### Table of Contents



(a)
    
    Security ownership of certain beneficial owners.As of March 31, 2006, 18,679,738 BACs had been issued. The
following Series are know to have one investor with holdings in
excess of 5% of the total outstanding BACs in the series.
 Series
    
    % of BACs heldSeries 7
    
    
    Series 9
    
    
    8.53
    %Series 10
    
    
    Series 11
    
    
    12.56
    %Series 12
    
    
    7.29
    %Series 14
    
    
    6.22
    %
 (b)
    
    Security ownership of management.The General Partner has a 1% interest in all Profits, Losses,
Credits and distributions of the Partnership. The Partnerships
response to Item 12(a) is incorporated herein by reference.(c)
    
    Changes in control.
  86




---



##### Table of Contents



87




---



##### Table of Contents



Fees paid to the Funds independent auditors for Fiscal year 2006 were comprised of the
following:
 Fee Type
    
    Ser. 7
    
    Ser. 9
    
    Ser.10
    
    Ser.11
    
    Ser.12
    
    Ser.14Audit Fees
    
    $
    7,750
    
    
    $
    18,770
    
    
    $
    17,780
    
    
    $
    17,780
    
    
    $
    20,900
    
    
    $
    40,600Audit Related FeesTax Fees
    
    
    4,100
    
    
    
    11,275
    
    
    
    9,700
    
    
    
    9,000
    
    
    
    11,100
    
    
    
    18,975All Other Fees
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Total
    
    $
    11,850
    
    
    $
    30,045
    
    
    $
    27,480
    
    
    $
    26,780
    
    
    $
    32,000
    
    
    $
    59,575
 Fees paid to the Funds independent auditors for Fiscal year 2005 were comprised of the
following:
 Fee Type
    
    Ser. 7
    
    
    Ser. 9
    
    
    Ser.10
    
    
    Ser.11
    
    
    Ser.12
    
    
    Ser.14Audit Fees
    
    $
    7,750
    
    
    $
    18,770
    
    
    $
    17,780
    
    
    $
    17,780
    
    
    $
    20,900
    
    
    $
    40,600Audit Related Fees
    
    
    750
    
    
    
    750
    
    
    
    750
    
    
    
    750
    
    
    
    750
    
    
    
    750Tax Fees
    
    
    4,010
    
    
    
    10,445
    
    
    
    8,960
    
    
    
    8,300
    
    
    
    10,445
    
    
    
    18,200All Other Fees
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Total
    
    $
    12,510
    
    
    $
    29,965
    
    
    $
    27,490
    
    
    $
    26,830
    
    
    $
    32,095
    
    
    $
    59,550Audit Committee
 The Fund has no Audit Committee. All audit services and any permitted non-audit services
performed by the Funds independent auditors are pre-approved by C&M Management, Inc.
 88




---



##### Table of Contents



PART IV
 
               a.
    
    Certificate of Limited
Partnership of Boston Capital
Tax Credit Fund II Limited
Partnership. (Incorporated by
reference from Exhibit 3 to
the Partnerships Registration
Statement No. 33-30145 on Form
S-11 as filed with the
Securities and Exchange
Commission on October 25,
1989.)
 89




---



##### Table of Contents



Exhibit No. 4  Instruments defining the rights of security holders, including
indentures.
 a.
    
    Agreement of Limited Partnership of Boston Capital Tax
Credit Fund II Limited Partnership. (Incorporated by
reference from Exhibit 4 to the Partnerships
Registration Statement No. 33-30145 on Form S-11 as
filed with the Securities and Exchange Commission on
October 25, 1989.)
 Exhibit No. 10  Material contracts.
 a.
    
    Beneficial Assignee Certificate. (Incorporated by
reference from Exhibit 10A to the Partnerships
Registration Statement No. 33-30145 on Form S-11 as
filed with the Securities and Exchange Commission on
October 25, 1989.)
 Exhibit No. 13
 a.
    
    Financial Statement of Boston Capital Tax Credit Fund
II Limited Partnership, filed herein
 Exhibit No. 31 Certification 302
 a.
    
    Certification pursuant to 18 U.S.C. Section 1350,
pursuant to Section 302 of the Sarbanes-Oxley Act of
2002, filed hereinb.
    
    Certification pursuant to 18 U.S.C. Section 1350,
pursuant to Section 302 of the Sarbanes-Oxley Act of
2002, filed herein
 Exhibit No. 32 Certification 906
 a.
    
    Certification pursuant to 18 U.S.C. Section 1350,
pursuant to Section 906 of the Sarbanes-Oxley Act of
2002, filed hereinb.
    
    Certification pursuant to 18 U.S.C. Section 1350,
pursuant to Section 906 of the Sarbanes-Oxley Act of
2002, filed herein
 90




---



##### Table of Contents



SIGNATURES
  Boston Capital Tax Credit Fund II Limited
PartnershipBy:
    
    Boston Capital Associates II L.P.

General PartnerBy:
    
    BCA Associates Limited Partnership,
General PartnerBy:
    
    C&M Management Inc., 
General PartnerDate: December 21,
2006
    
    By:
    
    /s/ John P. ManningJohn P. Manning
  DATE:
    
    SIGNATURE:
    
    TITLE:December 21, 2006
    
    /s/ John P. Manning
    
    Director, President (Principal ExecutiveJohn P. Manning
    
    Officer)
C&M Management
Inc.; Director,
President (Principal
Executive Officer)
BCTC II Assignor Corp.December 21, 2006
    
    /s/ Marc N. Teal
    
    Chief Financial Officer (PrincipleMarc N. Teal
    
    Financial
and
Accounting Officer), C&M
Management Inc.; Chief
Financial Officer
(Principle Financial and
Accounting Officer) BCTC
II Assignor Corp.
 91