(a) The Commissioner of Housing shall review applications for tax credits submitted to the Department of Housing pursuant to subsection (e) of section 10-416b or subsection (d) of section 10-416c. Upon determination that an application contains affordable housing, the commissioner shall issue a certificate to that effect. The commissioner shall monitor projects certified under this section to ensure that the affordable housing units are maintained as affordable for a minimum of ten years and may require deed restrictions or other fiscal mechanisms designed to ensure compliance with project requirements. In addition to the fee imposed by the Department of Economic and Community Development pursuant to subsection (h) of section 10-416c, the commissioner may impose a fee in an amount not exceeding two thousand dollars to cover the cost of reviewing applications and monitoring projects that qualify for affordable housing tax credits pursuant to subsections (a) to (j), inclusive, of section 10-416b or subsections (b) to (i), inclusive, of section 10-416c.

(b) The Commissioner of Housing may adopt regulations, pursuant to chapter 54, for monitoring of projects that qualify for affordable housing tax credits pursuant to subsections (a) to (j), inclusive, of section 10-416b or subsections (b) to (i), inclusive, of section 10-416c by the Department of Housing, or by local housing authorities, municipalities, other public agencies or quasi-public agencies, as defined in section 1-120, designated by the department. Such regulations shall include provisions for ensuring that affordable units developed under subdivision (3) of subsection (e) of section 10-416b or subdivision (3) of subsection (d) of section 10-416c are maintained as affordable for a minimum of ten years and may require deed restrictions or other fiscal mechanisms designed to ensure compliance with project requirements.

(P.A. 07-250, S. 22; P.A. 10-188, S. 16; P.A. 11-48, S. 127; P.A. 13-234, S. 2; P.A. 14-217, S. 166.)

History: P.A. 07-250 effective July 1, 2007; P.A. 10-188 made technical changes, effective July 1, 2010; P.A. 11-48 deleted “, in consultation with the Commission on Culture and Tourism,” in Subsec. (b), effective July 1, 2011; pursuant to P.A. 13-234, references to Commissioner of Economic and Community Development and Department of Economic and Community Development were changed editorially by the Revisors to references to Commissioner of Housing and Department of Housing, respectively, effective June 19, 2013; P.A. 14-217 added references to provisions of Sec. 10-416c and made technical changes, effective July 1, 2014.