adjusted qualifying income
Defined in 1 place of the United States Code.
For purposes of paragraph (4), the term “adjusted qualifying income” means the product of—
(i) the highest family income which (as of the date the financing was provided) would have met the requirements of subsection (f) with respect to the residents, and
(ii) 1.05 to the nth power where “n” equals the number of full years during the period beginning on the date the financing was provided and ending on the date of the disposition.
Source
- 2013–present26 U.S.C. § 143Internal Revenue Code · Mortgage revenue bonds: qualified mortgage bond and qualified veterans mortgage bond · for purposes of this section
For purposes of paragraph (4), the term "adjusted qualifying income" means the product of—
(i) the highest family income which (as of the date the financing was provided) would have met the requirements of subsection (f) with respect to the residents, and
(ii) 1.05 to the nth power where "n" equals the number of full years during the period beginning on the date the financing was provided and ending on the date of the disposition.
For purposes of clause (i), highest family income shall be determined without regard to subsection (f)(3)(A) and on the basis of the number of members of the taxpayer's family as of the date of the disposition.
Source
- 1994–201526 U.S.C. § 143Internal Revenue Code · Mortgage revenue bonds: qualified mortgage bond and qualified veterans mortgage bond · for purposes of this section