5. Payables to Local Limited Partnerships

12 Months Ended

Mar. 31, 2016

Notes to Financial Statements

5. Payables to Local Limited Partnerships

Payables to Local Limited Partnerships represent amounts which are due at various times based on conditions specified in the Local Limited Partnership agreements. These contributions are payable in installments and are generally due upon the Local Limited Partnerships achieving certain operating and development benchmarks (generally within two years of the Partnership’s initial investment). As of March 31, 2016 and 2015, $40,282 remains payable to the Local Limited Partnerships.