IRS LISTS BOND FACTOR AMOUNTS FOR LOW-INCOME HOUSING CREDIT.
Rev. Rul. 99-24; 1999-1 C.B. 1096
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Area/Tax Topics
- Index Termslow-income housing, credit
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 1999-18401 (1 original page)
- Tax Analysts Electronic Citation1999 TNT 99-17
Rev. Rul. 99-24
PART I. RULINGS AND DECISIONS UNDER THE INTERNAL REVENUE CODE OF 1986
[1] Low-income housing credit; satisfactory bond; "bond factor" amounts for the period April through June 1999. This ruling announces the monthly bond factor amounts to be used by taxpayers who dispose of qualified low-income buildings or interests therein during the period April through June 1999.
[2] In Rev. Rul. 90-60, 1990-2 C.B. 3, the Internal Revenue Service provided guidance to taxpayers concerning the general methodology used by the Treasury Department in computing the bond factor amounts used in calculating the amount of bond considered satisfactory by the Secretary under section 42(j)(6) of the Internal Revenue Code. It further announced that the Secretary would publish in the Internal Revenue Bulletin a table of "bond factor" amounts for dispositions occurring during each calendar month.
[3] This revenue ruling provides in Table 1 the bond factor amounts for calculating the amount of bond considered satisfactory under section 42(j)(6) for dispositions of qualified low-income buildings or interests therein during the period April through June 1999.
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TABLE 1
REV. RUL. 99-24
MONTHLY BOND FACTOR AMOUNTS FOR DISPOSITIONS EXPRESSED
AS A PERCENTAGE OF TOTAL CREDITS
Calendar Year Building Placed in Service
or, if Section 42(f)(1) Election Was Made,
the Succeeding Calendar Year
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Month of
Disposition 1987 1988 1989 1990 1991 1992
_____________________________________________________________________
Apr '99 45.71 60.18 75.06 76.82 79.83 83.22
May '99 45.71 60.18 75.06 76.60 79.60 82.97
Jun '99 45.71 60.18 75.06 76.39 79.38 82.73
[table continued]
_____________________________________________________________________
Month of
Disposition 1993 1994 1995 1996 1997 1998 1999
_____________________________________________________________________
Apr '99 86.70 90.11 93.55 97.27 101.15 105.33 107.43
May '99 86.44 89.83 93.26 96.96 100.81 104.97 107.43
Jun '99 86.18 89.56 92.97 96.66 100.51 104.65 107.43
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[4] For a list of bond factor amounts applicable to dispositions occurring during other calendar years, see the following revenue rulings: Rev. Rul. 98-3, 1998-2 I.R.B. 4, for dispositions occurring during the calendar years 1996 and 1997; Rev. Rul. 98-13, 1998-11 I.R.B. 4, for dispositions occurring during the period January through March 1998; Rev. Rul. 98-31, 1998-25 I.R.B. 4, for dispositions occurring during the period April through June 1998; Rev. Rul. 98-45, 1998-38 I.R.B. 4, for dispositions occurring during the period July through September 1998; Rev. Rul. 99-1, 1999-2 I.R.B. 4, for dispositions occurring during the period October through December 1998; and Rev. Rul. 99-18, 1999-14 I.R.B. 3, for dispositions occuring during the period January through March 1999.
DRAFTING INFORMATION
[5] The principal author of this revenue ruling is Gregory Doran of the Office of Assistant Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue ruling, contact Mr. Doran on (202) 622-3040 (not a toll-free call).
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Area/Tax Topics
- Index Termslow-income housing, credit
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 1999-18401 (1 original page)
- Tax Analysts Electronic Citation1999 TNT 99-17
