What financial assistance is limited by exceptions when determining annual income for LIHTC tenants receiving scholarships?

When determining annual income for Low-Income Housing Tax Credit (LIHTC) tenants who are receiving scholarships, the specific financial assistance that is limited by exceptions is tuition and mandatory fees. This means that only these particular expenses are considered when calculating the annual income to ensure that the income of the tenants is accurately represented without being inflated by financial assistance that is not intended to be a part of their income.

Tuition and mandatory fees are typically excluded from income calculations because they are necessary expenses that do not provide the tenant with additional disposable income. This ensures that individuals who are pursuing education and receiving aid in the form of scholarships are not unfairly penalized in the context of housing affordability.

Other types of financial assistance, such as non-mandatory fees or previous year’s income, can be treated differently and may not have the same limitations when determining annual income. Therefore, understanding the distinction made for tuition and mandatory fees in relation to scholarships is crucial for accurately assessing eligibility for housing programs under LIHTC regulations.