SECTION 3. APPLICATION

The qualified census tracts for the Northern Mariana Islands, American Samoa, and Guam as listed below are based on the 2000 census. In 2000, the Bureau of the Census provided data for all areas, not only MSAs. Thus, the list of qualified census tracts includes tracts in Block Numbering Areas in nonmetropolitan counties as well as tracts in MSAs.

.06 Section 143(k)(2)(A) of the Code provides that the term “statistical area” means (i) a metropolitan statistical area (“MSA”) and (ii) any county (or the portion thereof) that is not within an MSA.

.07 An MSA is currently defined as an area containing at least one urbanized area with a population of at least 50,000, plus adjacent territory having a high degree of social and economic integration with the core as measured through commuting ties. See Office of Management and Budget (“OMB”), Standards for Defining Metropolitan and Micropolitan Statistical Areas; Notice, 65 FR 249 (December 27, 2000); OMB Bulletin No. 03–04 (June 6, 2003). .08 A state or local government may elect to exchange all or part of its qualified mortgage bond authority to issue mortgage credit certificates. Section 25(a)(1) states, in general, that the recipient of

a mortgage credit certificate may claim a federal income tax credit equal to the product of the certificate credit rate and the interest paid or accrued during the tax year on the remaining principal of the certified indebtedness amount. Section 25(c)(2)(A)(iii)(V) of the Code provides that the indebtedness certified by mortgage credit certificates must meet the requirements of § 143(h) concerning the portion of loans to be placed in targeted areas.

.09 The list of qualified census tracts is developed by the Department of Housing and Urban Development (“HUD”) for publication by the Internal Revenue Service. HUD’s determination is based upon decennial census data received by HUD from the Bureau of the Census.

.10 Qualified census tracts for the states, the District of Columbia, and Puerto Rico, based on the 2000 census,

County or Equivalent Qualified Census Tracts

NORTHERN MARIANA ISLANDS

Northern Islands Municipality 9501

Rota Municipality 9501

Saipan Municipality 9501 9502 9503 9504 9505.01 9505.02 9506.01 9506.02 9507 9508 9509 9510 9511 9512 9513.01 9513.02 9514 9515 Tinian Municipality 9501

AMERICAN SAMOA

Eastern District 9501 9502 9503 9504 9505 9506 9507 9508 9509 Manu’a District 9517 9518

Rose Island 9519

Swains Island 9520

Western District 9510 9511 9512.01 9512.02

9512.03 9513 9515 9516

GUAM

Guam 9501 9502 9503 9504 9505 9506 9507 9508 9509 9510 9511 9512 9513 9514 9515 9516 9517 9518 9519 9520 9521 9522 9523 9524 9525 9526 9527 9528

2003-45 I.R.B. 1047 November 10, 2003

County or Equivalent Qualified Census Tracts

Guam (continued) 9529 9530 9531 9532 9533 9534 9535 9536 9537 9538 9539 9540 9541 9542 9543 9544 9545 9546 9547 9548 9549 9550 9551 9552 9553 9554 9555 9556

date as of which the list of qualified census tracts is rendered obsolete by a new revenue procedure.