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Introduction

SECTION 3. APPLICATION

Internal Revenue Bulletin 2017-21 · 2026-10-03 edition · updated 2026-10-04 · United States

.01 When computing the income requirements of § 143(f), issuers of qualified mortgage bonds and mortgage credit certificates must use either (1) the median gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional offices on March 28, 2016, or (2) the median gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional offices on April 14, 2017.

.02 If an issuer uses the median gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional offices on March 28, 2016, to compute the housing cost/income ratio under § 143(f)(5), the issuer must use the median gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional offices on March 28, 2016, for all purposes under § 143(f). Likewise, if an issuer uses the median gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional offices on April 14, 2017, to compute the housing cost/income

May 22, 2017 1250 Bulletin No. 2017–21

ratio under § 143(f)(5), the issuer must use the median gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional offices on April 14, 2017, for all purposes under § 143(f).

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▸Contents — Internal Revenue Bulletin 2017-21
Internal Revenue Bulletin 2017-21

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