REVENUE RULE 91-67
1991-2 C.B. 13, 1991-51 I.R.B. 4.
Internal Revenue Service
Revenue Ruling
LOW-INCOME HOUSING CREDIT; SATISFACTORY BOND; "BOND FACTOR" AMOUNTS FOR
OCTOBER, NOVEMBER, AND DECEMBER 1991
Published: December 23, 1991
Section 42. Low-Income Housing Credit
Low-income housing credit; satisfactory bond; "bond factor" amounts for October, November, and December 1991. 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 months of October, November, and December 1991 and provides the "bond factor" amounts applicable to all dispositions during calendar year 1991. [Full text in this issue.]
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.
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 for dispositions occurring during October, November and December 1991. Table 2 provides the bond factor amounts applicable to all dispositions during calendar year 1991, including the bond factor amounts previously published in Rev. Rul. 91-18, 1991-1 C.B. 3, Rev. Rul. 91-37, 1991-26 I.R.B. 5, and Rev. Rul. 91-44, 1991-32 I.R.B. 4.
Table 1
Rev. Rul. 91-67
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 | 1991 |
| Oct '91 | 112.03% | 116.24% | 120.84% | 125.18% | 130.24% |
| Nov '91 | 111.67% | 115.88% | 120.14% | 124.91% | 130.24% |
| Dec '91 | 111.32% | 115.54% | 119.83% | 124.67% | 130.24% |
TABLE 2
Rev. Rul. 91-67
Monthly Bond Factor Amounts for Dispositions During 1991 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 |
| Apr '91 | 114.47 | 118.76 | 122.98 | 127.48 | 130.24 |
| May '91 | 114.02 | 118.29 | 122.49 | 126.99 | 130.24 |
| Jun '91 | 113.60 | 117.84 | 122.04 | 126.54 | 130.24 |
| Jul '91 | 113.11 | 117.34 | 121.54 | 126.09 | 130.24 |
| Aug '91 | 112.71 | 116.93 | 121.14 | 125.74 | 130.24 |
| Sep '91 | 112.33 | 116.54 | 120.76 | 125.42 | 130.24 |
| Oct '91 | 112.03 | 116.24 | 120.48 | 125.18 | 130.24 |
| Nov '91 | 111.67 | 115.88 | 120.14 | 124.91 | 130.24 |
| Dec '91 | 111.32 | 115.54 | 119.83 | 124.67 | 130.24 |
DRAFTING INFORMATION
The principal author of this revenue ruling is Elissa J. Shendalman of the Office of Assistant Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue ruling contact Ms. Shendalman at (202) 377-6349 (not a toll-free call).
Rev. Rul. 91-67, 1991-2 C.B. 13, 1991-51 I.R.B. 4.