A Land Use Restrictive Agreement (LURA) is a contract between a multifamily investor/developer and a state housing finance agency that outlines the restrictions and requirements of a Low Income Housing Tax Credit (LIHTC) program. These restrictions typically include rent limits for a certain period of time, as well as other requirements. The exact nature of each LURA may vary between states and individual projects, but there are some common aspects between all LURAs. For example, a property must meet the 40/60 test or the 20/50 test and must maintain rents at these levels for at least 15-years. Additionally, LURA agreements often involve an "extended use period" which is often 15 years but can sometimes be longer or shorter, depending on the state of origin.