TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT
CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY
PART 355 ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM
SECTION 355.502 MONITORING FEES
Section 355.502 Monitoring Fees
An Agency may assess an annual fee for compliance monitoring of Projects. If an Agency decides to charge such a fee, the amount of such fee shall be established on July 1 of the year in which such decision is made. An Agency may redetermine the amount of its compliance monitoring fee as of each July 1. The Agency shall determine the amount of the fee, or the amount of the redetermined fee, based on the cost to the Agency of compliance monitoring of Projects for the previous State fiscal year.
(Source: Amended at 34 Ill. Reg. 15822, effective September 28, 2010)