IRS Revenue Ruling
1997-34

Code Sec. 42

<<FULL TEXT>>

Low-income housing credit; satisfactory bond; "bond factor" amounts for
the period July through September 1997. 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 July through
september 1997.


REV. RUL. 97-34

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) for dispositions of qualified low-income buildings or interests
therein during the period July through September 1997.

TABLE 1 REV. RUL. 97-34

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
-------------------------------------------------
Month of
Disposition 1987 1988 1989 1990 1991 1992
----------- ---- ---- ---- ---- ---- ----
JUL '97 78.33 80.65 83.19 86.15 89.61 93.54
AUG '97 78.11 80.43 82.96 85.92 89.36 93.27
SEP '97 77.90 80.21 82.74 85.68 89.12 93.01

Month of
Disposition 1993 1994 1995 1996 1997
----------- ---- ---- ---- ---- ----
JUL '97 97.58 101.48 105.30 109.33 112.52
AUG '97 97.30 101.18 105.01 109.06 112.52
SEP '97 97.03 100.90 104.73 108.81 112.52

<<END RULING>>

 

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