qualified community development entity

Defined in 1 place of the United States Code.

The term “qualified community development entity” means any domestic corporation or partnership if—

(A) the primary mission of the entity is serving, or providing investment capital for, low-income communities or low-income persons,

(B) the entity maintains accountability to residents of low-income communities through their representation on any governing board of the entity or on any advisory board to the entity, and

(C) the entity is certified by the Secretary for purposes of this section as being a qualified community development entity.

Source

2000–present 26 U.S.C. § 45DInternal Revenue Code · New markets tax credit · for purposes of this section