Part I. Rulings — Internal Revenue Bulletin 1999-21

Section 42.—Low-Income Housing Credit

Low-income housing credit; satisfac- tory bond; “bond factor” amounts for the period April through June 1999. 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 1999.

Rev. Rul. 99–24

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 § 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 § 42(j)(6) for dispositions of qualified low-income buildings or interests therein during the period April through June 1999.

Table 1 Rev. Rul. 99–24 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 1994 1995 1996 1997 1998 1999

Apr ’99 45.71 60.18 75.06 76.82 79.83 83.22 86.70 90.11 93.55 97.27 101.15 105.33 107.43 May ’99 45.71 60.18 75.06 76.60 79.60 82.97 86.44 89.83 93.26 96.96 100.81 104.97 107.43 Jun ’99 45.71 60.18 75.06 76.39 79.38 82.73 86.18 89.56 92.97 96.66 100.51 104.65 107.43

For a list of bond factor amounts applicable to dispositions occurring during other calendar years, see the following revenue rulings: Rev. Rul. 98–3, 1998–2 I.R.B. 4, for dispositions occurring during the calendar years 1996 and 1997; Rev. Rul. 98–13, 1998–11 I.R.B. 4, for dispositions occurring during the period January through March 1998; Rev. Rul. 98–31, 1998–25 I.R.B. 4, for dispositions occurring during the period April through June 1998; Rev. Rul. 98–45, 1998–38 I.R.B. 4, 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; and Rev. Rul. 99–18, 1999–14 I.R.B. 3, for dispositions occuring during the period January through March 1999.

DRAFTING INFORMATION

The principal author of this revenue ruling is Gregory 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).

Section 6012.—Persons Required to Make Returns of Income

26 CFR 1.6012–5: Composite return in lieu of specified form.

For the requirements for participants in the Magnetic Media/Electronic Filing Program for Form 1040NR, see Rev. Proc. 99–25, page 24.

Section 6061.—Signing of Returns and Other Documents

26 CFR 1.6061–1: Signing of returns and other documents by individuals.

For the requirements for participants in the Magnetic Media/Electronic Filing Program for Form 1040NR, see Rev. Proc. 99–25, page 24.

1999–21 I.R.B. 3 May 24, 1999