IRS Revenue Ruling
2000-31

  Code Sec. 42

Status: Revoked by 2001-2


<<FULL TEXT>>

Low-income housing credit; satisfactory bond; "bond factor" amounts for
the period April through June 2000. 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 April through June 2000.


REV. RUL. 2000-31

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 April through June 2000.

TABLE 1 REV. RUL. 2000-31

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     1993
-----------            ----        ----       ----       ----        ---- -      ---         ----
Apr  '00            31.27   46.78   62.87    79.50     82.43    86.72      91.18
May '00            31.27   46.78   62.87    79.50     82.19    86.46     90.90
Jun   '00            31.27   46.78   62.87    79.50     81.95    86.21     90.63

Month of
Disposition   1994     1995     1996     1997     1998     1999       2000
-----------           ----       ----       ----        ----        ----       ----         ----
Apr  '00         95.67   100.29   105.28   110.55   116.23  121.62  124.35
May '00         95.36    99.96    104.93   110.16   115.80  121.15  124.35
Jun   '00         95.07    99.65   104.59    109.80   115.41  120.73  124.35


For a list of bond factor amounts applicable to dispositions occurring
during other calendar years, see the following revenue rulings: Rev. Rul.
98-3, 1998-1 C.B. 248, for dispositions occurring during the calendar
years 1996 and 1997; Rev. Rul. 98-13, 1998-1 C.B. 686, for dispositions
occurring during the period January through March 1998; Rev. Rul. 98-31,
1998-1 C.B. 1269, for dispositions occurring during the period April
through June 1998; Rev. Rul. 98-45, 1998-2 C.B. 364, for dispositions
occurring during the period July through September 1998; Rev. Rul. 99-1,
1999-2 I.R.B. 4, for dispositions occurring during the period October
through December 1998; Rev. Rul. 99-54, 1999-51 I.R.B. 675, for
dispositions occurring during the calendar year 1999; and Rev. Rul.
2000-22, 2000-16 I.R.B. 880, for dispositions occurring during the period
January through March 2000.


DRAFTING INFORMATION

The principal author of this revenue ruling is Gregory N. Doran of the
Office of Assistant Chief Counsel (Passthroughs and Special Industries).
For further information regarding this revenue ruling, contact Mr. Doran
on (202) 622-3040 (not a toll-free call).

<<END RULING>>
 

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