REVENUE RULE 91-18
1991-1 C.B. 3, 1991-10 I.R.B. 4.
Internal Revenue Service
Revenue Ruling
LOW-INCOME HOUSING CREDIT; SATISFACTORY BOND; "BOND FACTOR" AMOUNTS FOR JANUARY, FEBRUARY, AND MARCH 1991
Published: March 11, 1991
Section 42. Low-Income Housing Credit
Low-income housing credit; satisfactory bond; "bond factor" amounts for January, February, and March 1991. This revenue ruling provides the bond factor amounts to be used by taxpayers that dispose of qualified low-income buildings or interests therein during the months of January, February, or March 1991.
In Rev. Rul. 90-60, 1990-30 I.R.B. 4, 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.
This revenue ruling provides in Table 1 the bond factor amounts for calculating the amount of bond considered satisfactory under section 42(j)(6) of the Code with respect to dispositions occurring during January, February, or March 1991.
Table 1
Rev. Rul. 91-18
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 | 1991 |
| Jan '91 | 130.13% | 136.43% | 142.78% | 149.65% | 150.76% |
| Feb '91 | 129.55 | 135.78% | 142.03% | 148.71% | 150.76% |
| Mar '91 | 128.99% | 135.16% | 141.34% | 147.89% | 150.76% |
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).
Rev. Rul. 91-18, 1991-1 C.B. 3, 1991-10 I.R.B. 4.