Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 10 - UNIFORM MULTIFAMILY RULES › Subchapter F - COMPLIANCE MONITORING › Section 10.608 - Recordkeeping Requirements

Current through Reg. 49, No. 28; July 12, 2024
(a) Development
				  Owners must comply with program recordkeeping requirements. Records must
				  include sufficient information to comply with the reporting requirements of
				  §
										10.607 of
				  this chapter (relating to Reporting Requirements) and any additional
				  programmatic requirements. HTC Development Owners must retain records
				  sufficient to comply with the reporting requirements of Treasury Regulation
				  1.42-5(b)(1). Records must be kept for each qualified Low-Income Unit and
				  building in the Development, commencing with lease up activities and continuing
				  on a monthly basis until the end of the Affordability Period.
(b) Each Development that is administered by
				  the Department must retain records as required by the specific funding program
				  rules and regulations and executed contracts or Land Use Restriction
				  Agreements. In general, retention schedules include, but are not limited to,
				  the provision of subsections (c) - (g) of this section.
(c) HTC records must be retained for at least
				  six years after the due date (with extensions) for filing the federal income
				  tax return for that year; however, the records for the first year of the Credit
				  Period must be retained for at least six years beyond the due date (with
				  extensions) for filing the federal income tax return for the last year of the
				  Compliance Period of the building (§1.42-5(b)(2) of the Code).
(d) Retention of records for TCAP-RF, HOME,
				  and HOME-ARP rental Developments must comply with the provisions of
				  24
				  CFR §
											92.508(c), which
				  generally require retention of rental housing records for five years after the
				  Affordability Period terminates. HOME-ARP rental Developments must also comply
				  with HUD CPD Notice 21-10.
(e)
				  Retention of records for NHTF must comply with the provisions of
				  24
				  CFR §
											93.407(b), which
				  generally require retention of rental housing records for five years after the
				  Affordability Period terminates.
(f) Retention of records for NSP rental
				  Developments must comply with the provisions of
				  24 CFR §
											570.506, which generally requires retention
				  of rental housing records for five years after the Department has closed out
				  the grant with HUD.
(g) THTF rental
				  Developments must retain tenant files for at least three years beyond the date
				  the tenant moves from the Development. Records pertinent to the funding of the
				  award, including, but not limited to, the Application and Development costs and
				  documentation, must be retained for at least five years after the Affordability
				  Period terminates.
(h) Section 811
				  PRA tenant records must be maintained for the term of tenancy plus three years.
				  After the end of the record retention period, all Enterprise Income
				  Verification (EIV) data must be destroyed.
(i) Other rental Developments funded or
				  administered in whole or in part by the Department must comply with record
				  retention requirements as required by federal regulations, statute, rule, or
				  deed restriction.
(j) All required
				  records must be made available and accessible for a monitoring review, physical
				  inspection, and whenever requested by the Department. The Department permits
				  electronic records. Digital signatures of both property management and
				  household are acceptable. Developments should have policies in place that allow
				  the household to choose between electronic or hard copy documents. It is the
				  responsibility of the Development Owner to maintain policies and procedures
				  that mitigate fraud, waste, and abuse on an ongoing basis.
(k) Prior to completion of ownership and/or
				  management agent change, a current waitlist must be submitted to the Department
				  through CMTS.