26 U.S.C. 42: Low-income housing credit

2020

• Pub. L. 116–260 added par. (3) and redesignated former par. (3) as (4). Law text · (b), (4)

2018

• Pub. L. 115–141, §401(a)(11)(A), substituted "as defined in paragraph (5)(B)(ii)" for "as defined in paragraph (5)(C)". Law text · (d)
• Pub. L. 115–141, §401(a)(10), substituted "etc.," for "etc," in heading. Law text · (e)
• Pub. L. 115–141, §401(a)(11)(B), substituted "(d)(6)(B)" for "(d)(6)(C)". Law text · (f)
• Pub. L. 115–141, §103(a)(1), substituted "subparagraph (A), (B), or (C)" for "subparagraph (A) or (B)" in introductory provisions. Law text · (g)
• Pub. L. 115–141, §103(a)(2), added subpar. (C). Law text · (g)
• Pub. L. 115–141, §103(b)(1), substituted "clauses (ii), (iii), and (iv)" for "clause (ii)". Law text · (g)
• Pub. L. 115–141, §103(b)(2), in heading, substituted "Rental of next available unit in case of 20–50 or 40–60 test" for "Next available unit must be rented to low-income tenant if income rises above 140 percent of income limit", and, in text, substituted "In the case of a pro… Law text · (g)
• Pub. L. 115–141, §103(b)(3), added cls. (iii) to (v). Law text · (g), (h), (i), (j), (k), (l), (m), (n), (o), (p), (q), (r), (s), (t), (u), (v)
• Pub. L. 115–141, §102(a), amended subpar. (I) generally. Prior to amendment, subpar. (I) related to the increase in State housing credit ceiling for 2008 and 2009. Law text · (h)
• Pub. L. 115–141, §401(a)(12), substituted ", and" for "; and". Law text · (h)
• Pub. L. 115–141, §401(a)(13), struck out period at end. Law text · (i)
• Pub. L. 115–141, §401(a)(11)(C)(i), substituted "(d)(6)(C)" for "(d)(6)(B)" in introductory provisions. Law text · (k)
• Pub. L. 115–141, §401(a)(11)(C)(ii), substituted "building." for "building.." Law text · (k)
• Pub. L. 115–141, §401(a)(11)(D), substituted "as defined in subsection (d)(5)(B)(ii)" for "as defined in subsection (d)(5)(C)". Law text · (m)

2017

• Pub. L. 115–97, §11002(d)(1)(G), substituted "for 'calendar year 2016' in subparagraph (A)(ii)" for "for 'calendar year 1992' in subparagraph (B)". Law text · (e), (h)
• Pub. L. 115–97, §11002(d)(3)(A), substituted "for 'calendar year 2016' in subparagraph (A)(ii) thereof" for "for 'calendar year 1987' ". Law text · (h)
• Pub. L. 115–97, §11002(d)(3)(B), substituted "if the C-CPI-U for any calendar year (as defined in section 1(f)(6)) exceeds the C-CPI-U for the preceding calendar year by more than 5 percent, the C-CPI-U for the base calendar year shall be increased such that such excess shall… Law text · (h)

2015

• Pub. L. 114–113, §131(b), substituted "Minimum" for "Temporary minimum" in heading. Law text · (b)
• Pub. L. 114–113, §131(a), struck out "with respect to housing credit dollar amount allocations made before January 1, 2015" after "paragraph". Law text · (b)

2014

• Pub. L. 113–295, §212(a), substituted "For purposes of this section—" for "For purposes of this section, the term", inserted subpar. (A) designation and heading, and inserted "The term" at beginning of subpar. (A). Law text · (b)
• Pub. L. 113–295, §112(a), substituted "January 1, 2015" for "January 1, 2014". Law text · (b)
• Pub. L. 113–295, §221(a)(7), struck out "($1.50 for 2001)" after "$1.75". Law text · (h)

2013

• Pub. L. 112–240 substituted "with respect to housing credit dollar amount allocations made before January 1, 2014" for "and before December 31, 2013". (American Taxpayer Relief Act of 2012) Law text · (b)

2009

• Pub. L. 111–5 added par. (9). (American Recovery and Reinvestment Act of 2009) Law text · (i)

2008

• Pub. L. 110–289, §3002(a), redesignated par. (2) as (1), in heading, substituted "Determination of applicable percentage" for "Buildings placed in service after 1987", in text, substituted "For purposes of this section, the term 'applicable percentage' means, with respect to any buildi… (Housing and Economic Recovery Act of 2008) Law text · (b)
• Pub. L. 110–289, §3004(a), struck out concluding provisions which read as follows: "Such term does not include any building with respect to which moderate rehabilitation assistance is provided, at any time during the compliance period, under section 8(e)(2) of the United States Hous… (Housing and Economic Recovery Act of 2008) Law text · (c)
• Pub. L. 110–289, §3003(g)(1), substituted "the date the building was last placed in service," for "the later of— (Housing and Economic Recovery Act of 2008) Law text · (d)
• Pub. L. 110–289, §3003(e), (g)(2), redesignated cls. (ii) and (iii)(II) as (i) and (ii), respectively, in cl. (ii) struck out at end "For purposes of the preceding sentence, in applying section 267(b) or 707(b)(1), '10 percent' shall be substituted for '50 percent'.", and struck … (Housing and Economic Recovery Act of 2008) Law text · (d)
• Pub. L. 110–289, §3003(c), substituted "shall not exceed the sum of—" for "shall not exceed 10 percent of the eligible basis of the qualified low-income housing project of which it is a part." and added subcls. (I) and (II). (Housing and Economic Recovery Act of 2008) Law text · (d)
• Pub. L. 110–289, §3003(d), amended heading and text of subpar. (A) generally. Prior to amendment, text read as follows: "If, during any taxable year of the compliance period, a grant is made with respect to any building or the operation thereof and any portion of such grant is fu… (Housing and Economic Recovery Act of 2008) Law text · (d)
• Pub. L. 110–289, §3003(g)(3), redesignated subpar. (C) as (B) and struck out heading and text of former subpar. (B). Text read as follows: "The eligible basis of any building shall not include any portion of its adjusted basis which is attributable to amounts with respect to… (Housing and Economic Recovery Act of 2008) Law text · (d), (C)
• Pub. L. 110–289, §3003(a), added cl. (v). (Housing and Economic Recovery Act of 2008) Law text · (d)
• Pub. L. 110–289, §3003(f), amended par. (6) generally. Prior to amendment, par. (6) consisted of subpars. (A) to (E) relating to general rule for waiver of par. (2)(B)(ii) with respect to any federally-assisted building, definition of "federally-assisted building", waiver for buildi… (Housing and Economic Recovery Act of 2008) Law text · (d)
• Pub. L. 110–289, §3003(b)(1)(A), substituted "20 percent" for "10 percent". (Housing and Economic Recovery Act of 2008) Law text · (e)
• Pub. L. 110–289, §3003(b)(1)(B), substituted "$6,000" for "$3,000". (Housing and Economic Recovery Act of 2008) Law text · (e)
• Pub. L. 110–289, §3003(b)(2), added subpar. (D). (Housing and Economic Recovery Act of 2008) Law text · (e)
• Pub. L. 110–289, §3003(b)(3), substituted "if the dollar amount in effect under subsection (e)(3)(A)(ii)(II) were two-thirds of such amount." for "if subsection (e)(3)(A)(ii)(II) were applied by substituting '$2,000' for '$3,000'." (Housing and Economic Recovery Act of 2008) Law text · (f)
• Pub. L. 110–289, §3004(g), added par. (9). (Housing and Economic Recovery Act of 2008) Law text · (g)
• Pub. L. 110–289, §3004(b), substituted "(as of the date which is 1 year after the date that the allocation was made)" for "(as of the later of the date which is 6 months after the date that the allocation was made or the close of the calendar year in which the allocation is m… (Housing and Economic Recovery Act of 2008) Law text · (h)
• Pub. L. 110–289, §3001, added subpar. (I). (Housing and Economic Recovery Act of 2008) Law text · (h)
• Pub. L. 110–289, §3007(b), inserted "or such financing is refunded as described in section 146(i)(6)" before period at end. (Housing and Economic Recovery Act of 2008) Law text · (h)
• Pub. L. 110–289, §3002(b)(1), struck out ", or any below market Federal loan," before "the proceeds of which". (Housing and Economic Recovery Act of 2008) Law text · (i)
• Pub. L. 110–289, §3002(b)(2)(A), in heading, struck out "balance of loan or" before "proceeds" and in text, struck out "loan or" before "tax-exempt obligation" and substituted "for purposes of subsection (d) the proceeds of such obligation." for "for purposes of subsection (d)— (Housing and Economic Recovery Act of 2008) Law text · (i)
• Pub. L. 110–289, §3002(b)(2)(B)(i), struck out "or below market Federal loan" after "tax-exempt obligation" in introductory provisions. (Housing and Economic Recovery Act of 2008) Law text · (i)
• Pub. L. 110–289, §3002(b)(2)(B)(ii), substituted "(when issued)" for "or loan (when issued or made)" and "the proceeds of such obligation" for "the proceeds of such obligation or loan". (Housing and Economic Recovery Act of 2008) Law text · (i)
• Pub. L. 110–289, §3002(b)(2)(B)(iii), struck out ", and such loan is repaid," after "redeemed". (Housing and Economic Recovery Act of 2008) Law text · (i)
• Pub. L. 110–289, §3002(b)(2)(C), struck out subpars. (D) and (E) which related to below market Federal loan and buildings receiving HOME assistance or Native American housing assistance, respectively. (Housing and Economic Recovery Act of 2008) Law text · (i), (E)
• Pub. L. 110–289, §3004(e), added subcl. (II) and redesignated former subcl. (II) as (III). (Housing and Economic Recovery Act of 2008) Law text · (i), (III)
• Pub. L. 110–289, §3004(f), added par. (8). (Housing and Economic Recovery Act of 2008) Law text · (i)
• Pub. L. 110–289, §3004(c), amended par. (6) generally. Prior to amendment, text read as follows: "In the case of a disposition of a building or an interest therein, the taxpayer shall be discharged from liability for any additional tax under this subsection by reason of such disposi… (Housing and Economic Recovery Act of 2008) Law text · (j)
• Pub. L. 110–289, §3004(d), added cls. (ix) and (x). (Housing and Economic Recovery Act of 2008) Law text · (m), (x)

2007

• Pub. L. 110–142 amended subcl. (I) generally. Prior to amendment, subcl. (I) read as follows: "single parents and their children and such parents and children are not dependents (as defined in section 152, determined without regard to subsections (b)(1), (b)(2), and (d)(1)… (Mortgage Forgiveness Debt Relief Act of 2007) Law text · (i)

2004

• Pub. L. 108–311, §408(a)(3), substituted "section 179(d)(7)" for "section 179(b)(7)". (Working Families Tax Relief Act of 2004) Law text · (d)
• Pub. L. 108–311, §207(8), inserted ", determined without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof" after "section 152". (Working Families Tax Relief Act of 2004) Law text · (i)

2002

• Pub. L. 107–147, §417(2), substituted "the amounts described in clauses (ii) through (iv) over the aggregate housing credit dollar amount allocated for such year" for "the amounts described in clauses (ii) and (iii) over the aggregate housing credit dollar amount allocated for su… (Job Creation and Worker Assistance Act of 2002) Law text · (h)
• Pub. L. 107–147, §417(3), struck out second "and" at end of subcl. (II) and inserted "and" at end of subcl. (III). (Job Creation and Worker Assistance Act of 2002) Law text · (m), (III)

2000

• Pub. L. 106–400 substituted "McKinney-Vento Homeless Assistance Act" for "Stewart B. McKinney Homeless Assistance Act" in concluding provisions. (McKinney-Vento Homeless Assistance Act) Law text · (c)
• Pub. L. 106–554, §1(a)(7) [title I, §134(a)(1)], substituted "subparagraphs (B) and (C)" for "subparagraph (B)". (Consolidated Appropriations Act, 2001) Law text · (d)
• Pub. L. 106–554, §1(a)(7) [title I, §134(a)(2), (3)], added subpar. (C) and redesignated former subpar. (C) as (D). (Consolidated Appropriations Act, 2001) Law text · (d), (D)
• Pub. L. 106–554, §1(a)(7) [title I, §135(b)], in first sentence, inserted "either" before "in which 50 percent" and "or which has a poverty rate of at least 25 percent" before period at end. (Consolidated Appropriations Act, 2001) Law text · (d)
• Pub. L. 106–554, §1(a)(7) [title I, §135(a)(1)], in first sentence, substituted "(as of the later of the date which is 6 months after the date that the allocation was made or the close of the calendar year in which the allocation" for "(as of the close of the calendar year in… (Consolidated Appropriations Act, 2001) Law text · (h)
• Pub. L. 106–554, §1(a)(7) [title I, §136(b)], which directed the substitution of "clauses (i) through (iv)" for "clauses (i) and (iii)" in the first sentence of concluding provisions, could not be executed because the words "clauses (i) and (iii)" did not appear subsequent to the… (Consolidated Appropriations Act, 2001) Law text · (h)
• Pub. L. 106–554, §1(a)(7) [title I, §135(a)(2)], in last sentence of concluding provisions, substituted "project which fails to meet the 10 percent test under paragraph (1)(E)(ii) on a date after the close of the calendar year in which the allocation was made or which" for "project which". (Consolidated Appropriations Act, 2001) Law text · (h)
• Pub. L. 106–554, §1(a)(7) [title I, §131(c)(1)], in first sentence of concluding provisions, substituted "clause (i)" for "clause (ii)" and "clauses (ii)" for "clauses (i)". (Consolidated Appropriations Act, 2001) Law text · (h)
• Pub. L. 106–554, §1(a)(7) [title I, §131(a)], amended cls. (i) and (ii) generally. Prior to amendment, cls. (i) and (ii) read as follows: (Consolidated Appropriations Act, 2001) Law text · (h), (ii)
• Pub. L. 106–554, §1(a)(7) [title I, §136(a)], substituted "the excess (if any) of—" for "the excess (if any) of the unused State housing credit ceiling for such year (as defined in subparagraph (C)(i)) over the excess (if any) of—" in introductory provisions, added subcls. (I… (Consolidated Appropriations Act, 2001) Law text · (h)
• Pub. L. 106–554, §1(a)(7) [title I, §131(c)(2)], substituted "subparagraph (C)(i)" for "subparagraph (C)(ii)" in introductory provisions and "clauses (ii)" for "clauses (i)" in subcl. (II). (Consolidated Appropriations Act, 2001) Law text · (h)
• Pub. L. 106–554, §1(a)(7) [title I, §131(b)], added subpar. (H). (Consolidated Appropriations Act, 2001) Law text · (h)
• Pub. L. 106–554, §1(a)(7) [title I, §134(b)(2)], inserted "or Native American housing assistance" after "HOME assistance" in heading. (Consolidated Appropriations Act, 2001) Law text · (i)
• Pub. L. 106–554, §1(a)(7) [title I, §134(b)(1)], inserted "or the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4101 et seq.) (as in effect on October 1, 1997)" after "this subparagraph)". (Consolidated Appropriations Act, 2001) Law text · (i)
• Pub. L. 106–400 substituted "McKinney-Vento Homeless Assistance Act" for "Stewart B. McKinney Homeless Assistance Act". (McKinney-Vento Homeless Assistance Act) Law text · (i)
• Pub. L. 106–554, §1(a)(7) [title I, §133(a)], added cls. (iii) and (iv). (Consolidated Appropriations Act, 2001) Law text · (m), (iv)
• Pub. L. 106–554, §1(a)(7) [title I, §132(b)], added subcl. (III). (Consolidated Appropriations Act, 2001) Law text · (m)
• Pub. L. 106–554, §1(a)(7) [title I, §133(b)], inserted "and in monitoring for noncompliance with habitability standards through regular site visits" before period at end. (Consolidated Appropriations Act, 2001) Law text · (m)
• Pub. L. 106–554, §1(a)(7) [title I, §132(a)(1)], inserted ", including whether the project includes the use of existing housing as part of a community revitalization plan" before comma at end. (Consolidated Appropriations Act, 2001) Law text · (m)
• Pub. L. 106–554, §1(a)(7) [title I, §132(a)(2)], added cls. (v) to (viii) and struck out former cls. (v) to (vii) which read as follows: (Consolidated Appropriations Act, 2001) Law text · (m)

1998

• Pub. L. 105–206 substituted "this chapter" for "subpart A, B, D, or G of this part". (Internal Revenue Service Restructuring and Reform Act of 1998) Law text · (j)

1996

• Pub. L. 104–188, §1704(t)(64), struck out "of 1988" after "Homeless Assistance Act". (Small Business Job Protection Act of 1996) Law text · (c)
• Pub. L. 104–188, §1704(t)(53), provided that section 11812(b)(3) of Pub. L. 101–508 shall be applied by not executing the amendment therein to the heading of subsec. (d)(5)(B) of this section. See 1990 Amendment note below. (Small Business Job Protection Act of 1996) Law text · (d)

1993

• Pub. L. 103–66, §13142(b)(3), added par. (8). · (g)
• Pub. L. 103–66, §13142(b)(4), added cl. (iv) and redesignated former cls. (iv) and (v) as (v) and (vi), respectively. · (h)
• Pub. L. 103–66, §13142(b)(5), added subpar. (E). · (i)
• Pub. L. 103–66, §13142(b)(2), amended heading and text of subpar. (D) generally. Prior to amendment, text read as follows: "A unit shall not fail to be treated as a low-income unit merely because it is occupied by an individual who is— · (i)
• Pub. L. 103–66, §13142(b)(1), added cl. (iv). · (m)
• Pub. L. 103–66, §13142(a)(1), struck out subsec. (o) which provided that subsec. (h)(3)(C)(i) would not apply to any amount allocated after June 30, 1992, and that subsec. (h)(4) would not apply to any building placed in service after June 30, 1992, with an exception for bond-financed … · (o)

1991

• Pub. L. 102–227, §107(a)(1), struck out ", for any calendar year after 1991" after "paragraph (2)" in introductory provisions, inserted "to any amount allocated after June 30, 1992" before comma at end of subpar. (A), and substituted "June 30, 1992" for "1991" in subpar. (B). · (o)
• Pub. L. 102–227, §107(a)(2), substituted "July 1, 1992" for "1992" in introductory provisions and subpar. (A), "June 30, 1992" for "December 31, 1991" and "June 30, 1994" for "December 31, 1993" in subpar. (B), and "July 1, 1994" for "January 1, 1994" in subpar. (C). · (o)

1990

• Pub. L. 101–508, §11701(a)(1)(B), struck out at end "A building shall not be treated as described in subparagraph (B) if, at any time during the credit period, moderate rehabilitation assistance is provided with respect to such building under section 8(e)(2) of the United States Hou… · (b)
• Pub. L. 101–508, §11701(a)(1)(A), inserted at end "Such term does not include any building with respect to which moderate rehabilitation assistance is provided, at any time during the compliance period, under section 8(e)(2) of the United States Housing Act of 1937." · (c)
• Pub. L. 101–508, §11407(b)(5)(A), inserted before period at end of last sentence "(other than assistance under the Stewart B. McKinney Homeless Assistance Act of 1988 (as in effect on the date of the enactment of this sentence))". · (c)
• Pub. L. 101–508, §11812(b)(3), inserted "(as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990)" after "section 167(k)." · (d)
• Pub. L. 101–508, §11407(b)(8), added subcl. (V). · (d)
• Pub. L. 101–508, §11812(b)(3), which directed the insertion of "(as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990)" after "section 167(k)", was executed to the text, and not the heading, of subpar. (B). See 1996 Amendment note abo… · (d)
• Pub. L. 101–508, §11407(b)(4), inserted at end "If the Secretary of Housing and Urban Development determines that sufficient data for any period are not available to apply this clause on the basis of census tracts, such Secretary shall apply this clause for such period on … · (d)
• Pub. L. 101–508, §11701(a)(2)(B), inserted before period at end "for such year". · (d)
• Pub. L. 101–508, §11701(a)(2)(A), which directed the insertion of "which is designated by the Secretary of Housing and Urban Development and, for the most recent year for which census data are available on household income in such tract," after "census tract", was executed by making the insertion a… · (d)
• Pub. L. 101–508, §11407(b)(3), added cl. (iv). · (g)
• Pub. L. 101–508, §11701(a)(3)(A), inserted before period at end "and such unit continues to be rent-restricted". · (g)
• Pub. L. 101–508, §11701(a)(4), inserted at end "In the case of a project described in section 142(d)(4)(B), the preceding sentence shall be applied by substituting '170 percent' for '140 percent' and by substituting 'any low-income unit in the building is occupied by a new re… · (g)
• Pub. L. 101–508, §11701(a)(5)(A), substituted "the 1st year of the credit period for such building" for "the 12-month period beginning on the date the building is placed in service". · (g)
• Pub. L. 101–508, §11701(a)(6)(A), substituted "the sum of the amounts described in clauses (i) and (iii)" for "the amount described in clause (i)" in second sentence. · (h)
• Pub. L. 101–508, §11701(a)(6)(B), substituted "the sum of the amounts described in clauses (i) and (iii)" for "the amount described in clause (i)". · (h)
• Pub. L. 101–508, §11407(b)(9)(A), inserted "own an interest in the project (directly or through a partnership) and" after "nonprofit organization is to". · (h)
• Pub. L. 101–508, §11407(b)(9)(B), added cl. (ii) and redesignated former cl. (ii) as (iii). · (h)
• Pub. L. 101–508, §11407(b)(9)(C), inserted "ownership and" before "material participation". · (h)
• Pub. L. 101–508, §11701(a)(7)(A), inserted before comma at end "and which prohibits the actions described in subclauses (I) and (II) of subparagraph (E)(ii)". · (h)
• Pub. L. 101–508, §11701(a)(7)(B), substituted "requirement and prohibitions" for "requirement". · (h)
• Pub. L. 101–508, §11701(a)(8)(A), added cl. (iii) and redesignated former cls. (iii) and (iv) as (iv) and (v), respectively. · (h), (i), (j), (k), (l), (m), (n), (o), (p), (q), (r), (s), (t), (u), (v)
• Pub. L. 101–508, §11701(a)(9), inserted before comma "unless the Secretary determines that such acquisition is part of an arrangement with the taxpayer a purpose of which is to terminate such period". · (h)
• Pub. L. 101–508, §11701(a)(8)(C), inserted before period at end "not otherwise permitted under this section". · (h)
• Pub. L. 101–508, §11701(a)(8)(D), inserted "the nonlow-income portion of the building for fair market value and" before "the low-income portion" in introductory provisions. · (h)
• Pub. L. 101–508, §11701(a)(8)(B), redesignated subpars. (K) and (L) as (J) and (K), respectively, and struck out former subpar. (J) which related to sales of less than the low-income portions of a building. · (h)
• Pub. L. 101–508, §11407(b)(6), substituted "Certain students" for "Students in government-supported job training programs" in heading and amended text generally. Prior to amendment, text read as follows: "A unit shall not fail to be treated as a low-income unit merely because it … · (i)
• Pub. L. 101–508, §11701(a)(10), redesignated par. (8) as (7). · (i)
• Pub. L. 101–508, §11407(b)(1), substituted "the tenants (in cooperative form or otherwise) or resident management corporation of such building or by a qualified nonprofit organization (as defined in subsection (h)(5)(C)) or government agency" for "the tenants of such building". · (i)
• Pub. L. 101–508, §11701(a)(10), redesignated par. (8) as (7). · (i)
• Pub. L. 101–508, §11813(b)(3)(A), substituted "49(a)(1)" for "46(c)(8)", "49(a)(2)" for "46(c)(9)", and "49(b)(1)" for "47(d)(1)". · (k)
• Pub. L. 101–508, §11813(b)(3)(B), substituted "49(a)(1)(D)(iv)(II)" for "46(c)(8)(D)(iv)(II)". · (k), (D)
• Pub. L. 101–508, §11407(b)(7)(B), redesignated cls. (iii) and (iv) as (ii) and (iii), respectively, and struck out former cl. (ii) which read as follows: "which gives the highest priority to those projects as to which the highest percentage of the housing credit dolla… · (m)
• Pub. L. 101–508, §11407(b)(2), amended cl. (iv) generally. Prior to amendment, cl. (iv) read as follows: "which provides a procedure that the agency will follow in notifying the Internal Revenue Service of noncompliance with the provisions of this section which such agency becomes aware of." · (m)
• Pub. L. 101–508, §11407(b)(7)(A), added cl. (iii) and inserted provision that cl. (iii) not be applied so as to impede the development of projects in hard-to-develop areas. · (m)
• Pub. L. 101–508, §11407(a)(1)(A), substituted "1991" for "1990" wherever appearing. · (o)
• Pub. L. 101–508, §11407(a)(1)(B), added par. (2) and struck out former par. (2) which read as follows: "For purposes of paragraph (1)(B), a building shall be treated as placed in service before 1990 if— · (o)

1989

• Pub. L. 101–239, §7108(h)(5), inserted at end "A building shall not be treated as described in subparagraph (B) if, at any time during the credit period, moderate rehabilitation assistance is provided with respect to such building under section 8(e)(2) of the United States Housing A… · (b)
• Pub. L. 101–239, §7108(c)(2), which directed amendment of subpar. (C) by substituting "subsection (h)(7)" for "subsection (h)(6))", was executed by substituting "subsection (h)(7)" for "subsection (h)(6)", as the probable intent of Congress. · (b)
• Pub. L. 101–239, §7108(i)(2), added subpar. (E). · (c)
• Pub. L. 101–239, §7108(l)(1), inserted "as of the close of the 1st taxable year of the credit period" before period at end. · (d)
• Pub. L. 101–239, §7108(l)(2), substituted "subparagraph (B), its adjusted basis as of the close of the 1st taxable year of the credit period, and" for "subparagraph (B), the sum of— · (d)
• Pub. L. 101–239, §7108(d)(1), added cl. (iv). · (d)
• Pub. L. 101–239, §7108(l)(3)(A), substituted "Adjusted basis" for "Acquisition cost" in heading and "adjusted basis" for "cost" in text. · (d)
• Pub. L. 101–239, §7108(l)(3)(B), substituted "Special rules for determining eligible basis" for "Eligible basis determined when building placed in service" in heading. · (d)
• Pub. L. 101–239, §7108(l)(3)(B), redesignated subpar. (B) as (A) and struck out former subpar. (A) which read as follows: "Except as provided in subparagraphs (B) and (C), the eligible basis of any building for the entire compliance period for such building shall be its eligible … · (d)
• Pub. L. 101–239, §7108(l)(3)(B), redesignated subpar. (C) as (B). Former subpar. (B) redesignated (A). · (d)
• Pub. L. 101–239, §7108(l)(3)(B), redesignated subpar. (D) as (C). Former subpar. (C) redesignated (B). · (d)
• Pub. L. 101–239, §7811(a)(1), inserted "section" before "167(k)" in heading. · (d)
• Pub. L. 101–239, §7108(l)(3)(B), redesignated subpar. (D) as (C). · (d)
• Pub. L. 101–239, §7108(g), added subpar. (D). · (d)
• Pub. L. 101–239, §7841(d)(13), substituted "Farmers Home Administration" for "Farmers' Home Administration". · (d)
• Pub. L. 101–239, §7108(f), added subpars. (C) and (D) and redesignated former subpar. (C) as (E). · (d)
• Pub. L. 101–239, §7831(c)(6), inserted "(or interest therein)" after "subparagraph (B)" in introductory provisions. · (d)
• Pub. L. 101–239, §7841(d)(14), substituted "under subsection (a)" for "under sebsection (a)". · (d)
• Pub. L. 101–239, §7841(d)(15), substituted "to capital account" for "to captial account". · (e)
• Pub. L. 101–239, §7108(d)(3), substituted "Minimum expenditures to qualify" for "Average of rehabilitation expenditures must be $2,000 or more" in heading, added subpars. (A) and (B), redesignated former subpar. (B) as (C), and struck out former subpar. (A) which read as follows: "P… · (e)
• Pub. L. 101–239, §7108(l)(3)(C), substituted "subsection (d)(2)(A)(i)" for "subsection (d)(2)(A)(i)(II)". · (e)
• Pub. L. 101–239, §7831(c)(4), added par. (4). · (f)
• Pub. L. 101–239, §7108(d)(2), added par. (5). · (f)
• Pub. L. 101–239, §7108(e)(2), inserted at end "For purposes of the preceding sentence, the amount of the income limitation under paragraph (1) applicable for any period shall not be less than such limitation applicable for the earliest period the building (which contains the unit… · (g)
• Pub. L. 101–239, §7108(e)(1)(B), substituted "the imputed income limitation applicable to such unit" for "the income limitation under paragraph (1) applicable to individuals occupying such unit". · (g)
• Pub. L. 101–239, §7108(h)(2), added cl. (iii) and concluding provisions which defined "supportive service". · (g)
• Pub. L. 101–239, §7108(e)(1)(A), added subpars. (C) and (D) and redesignated former subpar. (C) as (E). · (g)
• Pub. L. 101–239, §7108(m)(3), added subpar. (D). · (g)
• Pub. L. 101–239, §7108(n)(2), struck out "(other than section 142(d)(4)(B)(iii))" after "in applying such provisions". · (g)
• Pub. L. 101–239, §7108(h)(3), added par. (7). · (g)
• Pub. L. 101–239, §7108(m)(2), substituted "(E), or (F)" for "or (E)". · (h)
• Pub. L. 101–239, §7108(m)(1), added subpar. (F). · (h)
• Pub. L. 101–239, §7108(b)(1), added subpars. (C) and (D), redesignated former subpars. (D) to (F) as (E) to (G), respectively, and struck out former subpar. (C) which read as follows: "The State housing credit ceiling applicable to any State for any calendar year shall be … · (h)
• Pub. L. 101–239, §7108(j), substituted "50 percent" for "70 percent" in heading and in text. · (h)
• Pub. L. 101–239, §7811(a)(2), substituted "clause (i)" for "clause (ii)". · (h)
• Pub. L. 101–239, §7108(b)(2)(A), substituted "subparagraph (F)" for "subparagraph (E)". · (h)
• Pub. L. 101–239, §7108(c)(1), added par. (6). Former par. (6) redesignated (7). · (h)
• Pub. L. 101–239, §7108(b)(2)(B), redesignated subpars. (C) to (E) as (B) to (D), respectively, and struck out former subpar. (B) which provided that the housing credit dollar amount could not be carried over to any other calendar year. · (h)
• Pub. L. 101–239, §7108(c)(1), redesignated pars. (6) and (7) as (7) and (8), respectively. · (h), (8)
• Pub. L. 101–239, §7108(k), inserted at end "Such term shall not include any loan which would be a below market Federal loan solely by reason of assistance provided under section 106, 107, or 108 of the Housing and Community Development Act of 1974 (as in effect on the date of the… · (i)
• Pub. L. 101–239, §7108(i)(1), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: "A unit shall not be treated as a low-income unit unless the unit is suitable for occupancy (as determined under regulations prescribed by the Secretary taking into accou… · (i)
• Pub. L. 101–239, §7831(c)(1), inserted "(as determined under regulations prescribed by the Secretary taking into account local health, safety, and building codes)" after "suitable for occupancy". · (i)
• Pub. L. 101–239, §7108(h)(1), inserted at end "For purposes of the preceding sentence, a single-room occupancy unit shall not be treated as used on a transient basis merely because it is rented on a month-by-month basis." · (i)
• Pub. L. 101–239, §7831(c)(2), added subpar. (D). · (i)
• Pub. L. 101–239, §7108(h)(4), added subpar. (E). · (i)
• Pub. L. 101–239, §7831(c)(3), added par. (6). · (i)
• Pub. L. 101–239, §7108(q), added par. (8). · (i)
• Pub. L. 101–239, §7108(o), added provision at end relating to the applicability of cl. (ii) to qualified nonprofit organizations not described in section 46(c)(8)(D)(iv)(II) with respect to a building. · (k)
• Pub. L. 101–239, §7108(p), in introductory provisions, substituted "Following" for "Not later than the 90th day following" and inserted "at such time and" before "in such form". · (l)
• Pub. L. 101–239, §7108(o), added subsec. (m). Former subsec. (m) redesignated (n). · (m)
• Pub. L. 101–239, §7831(c)(5), added par. (4). · (m)
• Pub. L. 101–239, §7108(o), redesignated subsec. (m) as (n). Former subsec. (n) redesignated (o). · (n)
• Pub. L. 101–239, §7108(a)(1), amended subsec. (n) generally. Prior to amendment, subsec. (n) read as follows: "The State housing credit ceiling under subsection (h) shall be zero for any calendar year after 1989 and subsection (h)(4) shall not apply to any building placed in service after 1989." · (n)
• Pub. L. 101–239, §7108(o), redesignated subsec. (n) as (o). · (o)

1988

• Pub. L. 100–647, §1002(l)(1)(A), substituted "for the earlier of—" for "for the month in which such building is placed in service" and added cls. (i) and (ii) and concluding provisions. · (b)
• Pub. L. 100–647, §1002(l)(1)(B), substituted "the month applicable under clause (i) or (ii) of subparagraph (A)" for "the month in which the building was placed in service". · (b)
• Pub. L. 100–647, §1002(l)(9)(B), amended par. (3) generally. Prior to amendment, par. (3) read as follows: "For treatment of certain rehabilitation expenditures as separate new buildings, see subsection (e)." · (b)
• Pub. L. 100–647, §1002(l)(2)(A), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: "which at all times during the compliance period with respect to such building is part of a qualified low-income housing project, and". · (c)
• Pub. L. 100–647, §1002(l)(3), substituted "Special rules for certain transfers" for "Special rule for nontaxable exchanges" in heading and amended text generally. Prior to amendment, text read as follows: "For purposes of determining under subparagraph (B)(ii) when a building… · (d)
• Pub. L. 100–647, §1002(l)(4), amended par. (3) generally. Prior to amendment, par. (3) read as follows: "The eligible basis of any building shall be reduced by an amount equal to the portion of the adjusted basis of the building which is attributable to residential rental units in t… · (d)
• Pub. L. 100–647, §1002(l)(6)(B), substituted "subparagraphs (B) and (C)" for "subparagraph (B)". · (d)
• Pub. L. 100–647, §1002(l)(5), inserted "(increased, in the case of an existing building which meets the requirements of paragraph (2)(B), by the amounts described in paragraph (2)(A)(i)(II))" before period at end. · (d)
• Pub. L. 100–647, §1002(l)(6)(A), added subpar. (C). · (d)
• Pub. L. 100–647, §1002(l)(7), struck out cl. (iii) which related to other circumstances of financial distress. · (d)
• Pub. L. 100–647, §1002(l)(8), struck out "of 1934" after "Act". · (d)
• Pub. L. 100–647, §1002(l)(2)(B), substituted "beginning with—" for "beginning with" and subpars. (A) and (B) and concluding provisions for "the taxable year in which the building is placed in service or, at the election of the taxpayer, the succeeding taxable year. Such an election,… · (f)
• Pub. L. 100–647, §1002(l)(9)(A), amended par. (3) generally. Prior to amendment, par. (3) "Special rule where increase in qualified basis after 1st year of credit period" read as follows: · (f)
• Pub. L. 100–647, §1002(l)(10), struck out "Federal" after "comparable". · (g)
• Pub. L. 100–647, §1002(l)(11), added subpar. (C). · (g)
• Pub. L. 100–647, §1002(l)(12), amended par. (3) generally, substituting subpars. (A) to (C) for former subpars. (A) and (B). · (g)
• Pub. L. 100–647, §1002(l)(13), inserted "; except that, in applying such provisions (other than section 142(d)(4)(B)(iii)) for such purposes, the term 'gross rent' shall have the meaning given such term by paragraph (2)(B) of this subsection" before period at end. · (g)
• Pub. L. 100–647, §1002(l)(32), added par. (6). · (g)
• Pub. L. 100–647, §1002(l)(14)(A), amended par. (1) generally. Prior to amendment, par. (1) read as follows: "No credit shall be allowed by reason of this section for any taxable year with respect to any building in excess of the housing credit dollar amount allocated to such buildin… · (h)
• Pub. L. 100–647, §4003(b)(1), substituted "(C), (D), or (E)" for "(C) or (D)". · (h)
• Pub. L. 100–647, §4003(a), added subpar. (E). · (h)
• Pub. L. 100–647, §1002(l)(15), substituted "if—" for "and which is taken into account under section 146" and added cls. (i) and (ii). · (h)
• Pub. L. 100–647, §1002(l)(16), added subpar. (D) and redesignated former subpar. (D) as (E). · (h), (E)
• Pub. L. 100–647, §1002(l)(14)(B), struck out cl. (ii) which read as follows: · (h)
• Pub. L. 100–647, §1002(l)(17), amended subpar. (D) generally. Prior to amendment, subpar. (D) "Credit allowable determined without regard to averaging convention, etc." read as follows: "For purposes of this subsection, the credit allowable under subsection (a) with respect to an… · (h)
• Pub. L. 100–647, §1002(l)(18), added subpar. (E). · (h)
• Pub. L. 100–647, §1002(l)(19)(A), inserted "or any prior taxable year" after "such taxable year" and substituted "is or was outstanding" for "is outstanding" and "are or were used" for "are used". · (i)
• Pub. L. 100–647, §1002(l)(19)(B), substituted "balance of loan or proceeds of obligations" for "outstanding balance of loan" in heading and amended text generally. Prior to amendment, text read as follows: "A loan shall not be taken into account under subparagraph (A) if the taxp… · (i)
• Pub. L. 100–647, §1002(l)(19)(C), added subpar. (C). Former subpar. (C) redesignated (D). · (i)
• Pub. L. 100–647, §1002(l)(19)(C), (D), redesignated former subpar. (C) as (D) and substituted "this paragraph" for "subparagraph (A)". · (i)
• Pub. L. 100–647, §1007(g)(3)(B), substituted "D, or G" for "or D". · (j)
• Pub. L. 100–647, §1002(l)(20), added subpar. (F). · (j)
• Pub. L. 100–647, §4004(a), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: "This paragraph shall apply to any partnership— · (j)
• Pub. L. 100–647, §1002(l)(21), amended cl. (i) generally. Prior to amendment, cl. (i) read as follows: "which has 35 or more partners each of whom is a natural person or an estate, and". · (j)
• Pub. L. 100–647, §1002(l)(22), inserted "(or interest therein)" after "disposition of building" in heading, and in text inserted "or an interest therein" after "of a building". · (j)
• Pub. L. 100–647, §1002(l)(23), inserted before period at end ", except that this subparagraph shall not apply in the case of a federally assisted building described in subsection (d)(6)(B) if—" and cls. (i) and (ii). · (k)
• Pub. L. 100–647, §1002(l)(24)(B), substituted "Certifications and other reports to Secretary" for "Certifications to Secretary" in heading. · (l)
• Pub. L. 100–647, §1002(l)(24)(A), added par. (2) and redesignated former par. (2) as (3). · (l), (3)
• Pub. L. 100–647, §4003(b)(3), amended subsec. (n) generally, substituting a single par. for former pars. (1) and (2). · (n)
• Pub. L. 100–647, §1002(l)(25), inserted ", and, except for any building described in paragraph (2)(B), subsection (h)(4) shall not apply to any building placed in service after 1989" after "year after 1989". · (n)

1986

• Pub. L. 99–509 substituted "subparagraphs (D)(ii)(II) and (D)(iv)(I)" for "subparagraph (D)(iv)(I)". · (k)