TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT
CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY
PART 355 ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM
SECTION 355.310 MATERIAL PARTICIPATION OF SPONSOR
Section 355.310 Material Participation of Sponsor
No transfer of cash, securities, real property or personal property to a Sponsor shall be a Donation unless the Sponsor is committed to Material Participation in the Multifamily Housing Project or rental Single Family Project for the full term of the Compliance Period.
(Source: Amended at 34 Ill. Reg. 15822, effective September 28, 2010)