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Rev. Proc. 2019-21

SECTION 3. APPLICATION

Internal Revenue Bulletin 2019-21 · 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 April 01, 2018, 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 24, 2019.

.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 April 01, 2018, 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

May 20, 2019 1190 Bulletin No. 2019–21

HUD regional offices on April 01, 2018, 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 24, 2019, 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 April 24, 2019, for all purposes under § 143(f).

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▸Contents — Internal Revenue Bulletin 2019-21
Internal Revenue Bulletin 2019-21

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