qualified low-income community
Defined in 1 place of the United States Code.
The term “qualified low-income community” means any population census tract if—
(I) the poverty rate for such tract is at least 20 percent, or
(II) the median family income for such tract does not exceed 80 percent of statewide median family income (or, in the case of a tract located within a metropolitan area, metropolitan area median family income if greater).
Source
- 2015–201826 U.S.C. § 1394Internal Revenue Code · Tax-exempt enterprise zone facility bonds · for purposes of this section
The term "qualified low-income community" means any population census tract if—
(I) the poverty rate for such tract is at least 20 percent, or
(II) the median family income for such tract does not exceed 80 percent of statewide median family income (or, in the case of a tract located within a metropolitan area, metropolitan area median family income if greater).
Subclause (II) shall be applied using possessionwide median family income in the case of census tracts located within a possession of the United States.
Source
- 2015–present26 U.S.C. § 1394Internal Revenue Code · Tax-exempt enterprise zone facility bonds · for purposes of this section