REVENUE RULE 90-67
1990-2 C.B. 6, 1990-34 I.R.B. 1.
Internal Revenue Service
Revenue Ruling
LOW-INCOME HOUSING CREDIT; SATISFACTORY BOND; "BOND FACTOR" AMOUNTS FOR AUGUST AND SEPTEMBER
Published: August 2, 1990
Section 42. - Low-Income Housing Credit
Low-income housing credit; satisfactory bond; "bond factor" amounts for August
and September. This revenue ruling announces the monthly "bond factor" amounts
to be used by taxpayers who dispose of qualified low-income buildings or interests therein
during the months of August and September 1990. It also modifies Rev. Rul. 90-60, page 3
this Bulleting, to state that the Service will timely publish a monthly figure but may do
so less frequently than monthly. Rev. Rul. 90-60 modified and supplemented.
In Rev. Rul. 90-60, 1990-30 I.R.B. 4, the Internal Revenue Service announced the bond factor amounts for calculating a bond under section 42(j)(6) of the Internal Revenue Code with respect to a disposition of a qualified low-income building or interest therein occurring during calendar years 1987, 1988, 1989, and the first seven months of 1990. It further announced that the Secretary would publish in the Internal Revenue Bulletin a table of 'bond factor' amounts for dispositions occurring during each subsequent calendar month.
This revenue ruling provides in the accompanying table the bond factor amounts for calculating a bond under section 42(j)(6) of the Code with respect to dispositions occurring during August and September of 1990.
Rev. Rul. 90-67
Monthly Bond Factor Amounts for Dispositions Expressed As a Percentage of Total Credits
| Calendar Year Building Placed in Service or, if Section42(f)(1) Election Was Made, the Succeeding Calendar Year | ||||
| Month of Disposition | 1987 | 1988 | 1989 | 1990 |
| Aug '90 | 132.47% | 138.83% | 145.02% | 150.76% |
| Sep '90 | 132.00 | 138.36 | 144.61 | 150.76 |
Rev. Rul. 90-60 indicated that the Service would publish in the Internal Revenue Bulletin each month the applicable monthly bond factors. The Service will publish timely monthly factors but may do so less frequently than monthly. Accordingly, this revenue ruling modifies Rev. Rul. 90-60 by revising the second sentence of the 7th paragraph of the revenue ruling to read as follows: 'The Secretary will publish in the Internal Revenue Bulletin a table of 'bond factor' amounts for dispositions occurring during each calendar month.' [fn1]
EFFECT ON OTHER REVENUE RULINGS
Rev. Rul. 90-60 is modified and supplemented.
DRAFTING INFORMATION
The principal author of this revenue ruling is Donna M. Young of the Office of Assistant Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue ruling contact Ms. Young on (202) 377-6349 (not a toll-free call).
fn1. When Rev. Rul. 90-60 appears in the Cumulative Bulletin, 1990-2 C.B., it will reflect this modification.
Rev. Rul. 90-67, 1990-2 C.B. 6, 1990-34 I.R.B. 1.