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26 C.F.R. §§ 1.42-0 through 1.42-19 — Treasury Regulations under IRC § 42 (Low-Income Housing Credit)

§ 1.42-9 For use by the general public.

26 C.F.R. §§ 1.42-0 through 1.42-19 — Treasury Regulations under IRC § 42 (Low-Income Housing Credit) · 2026 edition · updated 2026-07-29 · United States

(a) General rule. If a residential rental unit in a building is not for use by the general public, the unit is not eligible for a section 42 credit. A residential rental unit is for use by the general public if the unit is rented in a manner consistent with housing policy governing non-discrimination, as evidenced by rules or regulations of the Department of Housing and Urban Development (HUD) (24 CFR subtitle A and chapters I through XX). See HUD Handbook 4350.3 (or its successor). A copy of HUD Handbook 4350.3 may be requested by writing to: HUD, Directives Distribution Section, room B-100, 451 7th Street, SW., Washington, DC 20410.

(b) Limitations. Notwithstanding paragraph (a) of this section, if a residential rental unit is provided only for a member of a social organization or provided by an employer for its employees, the unit is not for use by the general public and is not eligible for credit under section 42. In addition, any residential rental unit that is part of a hospital, nursing home, sanitarium, lifecare facility, trailer park, or intermediate care facility for the mentally and physically handicapped is not for use by the general public and is not eligible for credit under section 42.

(c) Treatment of units not for use by the general public. The costs attributable to a residential rental unit that is not for use by the general public are not excludable from eligible basis by reason of the unit's ineligibility for the credit under this section. However, in calculating the applicable fraction, the unit is treated as a residential rental unit that is not a low-income unit.

[T.D. 8520, 59 FR 10073, Mar. 3, 1994]

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▸ Contents — 26 C.F.R. §§ 1.42-0 through 1.42-19 — Treasury Regulations under IRC § 42 (Low-Income Housing Credit)
26 C.F.R. §§ 1.42-0 through 1.42-19 — Treasury Regulations under IRC § 42 (Low-Income Housing Credit)
  1. ▸ 26 C.F.R. §§ 1.42-0 through 1.42-19 — Treasury Regulations und…
    Overview
    1. § 1.42-0 Table of contents.
    2. § 1.42-1 Limitation on low-income housing credit allowed with …
    3. § 1.42-3 Treatment of buildings financed with proceeds from a …
    4. § 1.42-4 Application of not-for-profit rules of section 183 to…
    5. § 1.42-5 Monitoring compliance with low-income housing credit …
    6. § 1.42-6 Buildings qualifying for carryover allocations.
    7. § 1.42-8 Election of appropriate percentage month.
    8. § 1.42-9 For use by the general public.
    9. § 1.42-10 Utility allowances.
    10. § 1.42-11 Provision of services.
    11. § 1.42-12 Effective dates and transitional rules.
    12. § 1.42-13 Rules necessary and appropriate; housing credit agen…
    13. § 1.42-14 Allocation rules for post-2000 State housing credit …
    14. § 1.42-15 Available unit rule.
    15. § 1.42-16 Eligible basis reduced by federal grants.
    16. § 1.42-17 Qualified allocation plan.
    17. § 1.42-18 Qualified contracts.
    18. § 1.42-19 Average income test.
    19. § 1.42-1T Limitation on low-income housing credit allowed with…

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