n-21-17.pdf

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Part III - Administrative, Procedural, and Miscellaneous

Notice 2021-17

I. PURPOSE

This notice clarifies Notice 2021–12, 2021–6 I.R.B. 828, by providing a more
precise citation in section IV.E of that notice.

II. CLARIFICATION

In section IV.E, id. at 831, “§ 42(f)” is revised to be “§ 42(f)(3)(A)(ii)”.
As clarified, section IV.E now reads:
E. EXTENSION TO SATISFY OCCUPANCY
OBLIGATIONS
For purposes of § 42(f)(3)(A)(ii), if the close of the first
year of the credit period with respect to a building is on or
after April 1, 2020, and on or before June 30, 2021, then the
qualified basis for the building for the first year of the credit
period is calculated by taking into account any increase in
the number of low-income units by the close of the 6-month
period following the close of that first year.
III. EFFECT ON OTHER DOCUMENTS

Notice 2021-12 is clarified.