2. Investment in Local Partnerships	9 Months Ended
Dec. 30, 2016
Notes
2. Investment in Local Partnerships	2. Investment in Local Partnerships The Partnership initially acquired limited partner equity interests (the “Local Partnership Interest” or “Local Partnership Interests”) in forty-three partnerships (the “Local Partnership” or “Local Partnerships”) representing capital contributions in the aggregate amount of $29,384,966, which includes voluntary advances (the “Advances”) made to a certain Local Partnership and all of which has been paid. As of December 30, 2016, the Partnership holds a Local Partnership Interest in two Local Partnerships (see discussion below regarding the Partnership’s sale of its Local Partnership Interest in Country View Apartments (“Country View”) subsequent to December 30, 2016. The Partnership has no legal obligation to fund any operating deficits of the remaining Local Partnerships. The results of operations of the Local Partnerships are provided by the general partners of the Local Partnerships (the “Local General Partners”) on an unaudited basis during interim periods. In the event the operations of a Local Partnership result in a loss, equity in loss of each investment in Local Partnership allocated to the Partnership is recognized to the extent of the Partnership’s investment balance in each Local Partnership. Equity in loss in excess of the Partnership’s investment balance in a Local Partnership is allocated to other partners’ capital in any such Local Partnership. As a result of cumulative equity losses and distributions, and the sales of certain Local Partnerships’ Properties and/or the Partnership’s Local Partnership Interests, the Partnership’s investment in local partnerships reached a zero balance in a prior year. During the nine months ended December 30, 2016, Summerfield Apartments Limited Partnership (“Summerfield Apartments”) sold its underlying Property to an unaffiliated entity; the Partnership received $857,937 in connection with the sale. Such amount is included in gain on sale of limited partner interests/local partnership properties in the accompanying unaudited statement of operations and comprehensive income (loss) for the nine months ended December 30, 2016. Summerfield Apartments has since been dissolved. During the nine months ended December 30, 2016, the Partnership sold its Local Partnership Interest in Hurlock Meadow Limited Partnership (“Hurlock Meadow”) to an unaffiliated entity; the Partnership received $15,000 in connection with the sale. Such amount is included in gain on sale of limited partner interests/local partnership properties in the accompanying unaudited statement of operations and comprehensive income (loss) for the nine months ended December 30, 2016. 15,000 Subsequent to December 30, 2016, the Partnership sold its Local Partnership Interest in Country View to one of the Local General Partners of Country View. The Partnership received $7,000 during the nine months ended December 30, 2016 in connection with the sale; such amount is reflected as deferred revenue in the accompanying unaudited balance sheet as of December 30, 2016.

2. Investment in Local Partnerships

9 Months Ended

Dec. 30, 2016

2. Investment in Local Partnerships

The Partnership initially acquired limited partner equity interests (the “Local Partnership Interest” or “Local Partnership Interests”) in forty-three partnerships (the “Local Partnership” or “Local Partnerships”) representing capital contributions in the aggregate amount of $29,384,966, which includes voluntary advances (the “Advances”) made to a certain Local Partnership and all of which has been paid. As of December 30, 2016, the Partnership holds a Local Partnership Interest in two Local Partnerships (see discussion below regarding the Partnership’s sale of its Local Partnership Interest in Country View Apartments (“Country View”) subsequent to December 30, 2016. The Partnership has no legal obligation to fund any operating deficits of the remaining Local Partnerships. The results of operations of the Local Partnerships are provided by the general partners of the Local Partnerships (the “Local General Partners”) on an unaudited basis during interim periods.

In the event the operations of a Local Partnership result in a loss, equity in loss of each investment in Local Partnership allocated to the Partnership is recognized to the extent of the Partnership’s investment balance in each Local Partnership. Equity in loss in excess of the Partnership’s investment balance in a Local Partnership is allocated to other partners’ capital in any such Local Partnership. As a result of cumulative equity losses and distributions, and the sales of certain Local Partnerships’ Properties and/or the Partnership’s Local Partnership Interests, the Partnership’s investment in local partnerships reached a zero balance in a prior year.

During the nine months ended December 30, 2016, Summerfield Apartments Limited Partnership (“Summerfield Apartments”) sold its underlying Property to an unaffiliated entity; the Partnership received $857,937 in connection with the sale. Such amount is included in gain on sale of limited partner interests/local partnership properties in the accompanying unaudited statement of operations and comprehensive income (loss) for the nine months ended December 30, 2016. Summerfield Apartments has since been dissolved.

During the nine months ended December 30, 2016, the Partnership sold its Local Partnership Interest in Hurlock Meadow Limited Partnership (“Hurlock Meadow”) to an unaffiliated entity; the Partnership received $15,000 in connection with the sale. Such amount is included in gain on sale of limited partner interests/local partnership properties in the accompanying unaudited statement of operations and comprehensive income (loss) for the nine months ended December 30, 2016. 15,000

Subsequent to December 30, 2016, the Partnership sold its Local Partnership Interest in Country View to one of the Local General Partners of Country View. The Partnership received $7,000 during the nine months ended December 30, 2016 in connection with the sale; such amount is reflected as deferred revenue in the accompanying unaudited balance sheet as of December 30, 2016.