On April 1, HUD published the 2021 income limits for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The limits for the LIHTC and Bond projects are published separately from the limits for HUD programs and are named the MTSP limits.
Projects in service prior to 2009 may use the HERA Special Income Limits in areas with such limits published by HUD. Owners of LIHTC projects have a 45 day grace period to implement these new limits which ends on May 15, 2020. However, keep in mind LIHTC and Bond properties are held harmless from limit reductions.