qualified program
Defined in 1 place of the United States Code.
For purposes of subparagraph (A), the term “qualified program” means any governmental program providing mortgage loans (other than 1st mortgage loans) or grants—
(i) which restricts (throughout the 9-year period beginning on the date the financing is provided) the resale of the residence to a purchaser qualifying under this section and to a price determined by an index that reflects less than the full amount of any appreciation in the residence’s value, or
(ii) which provides for deferred or reduced interest payments on such financing and grants the governmental unit a share in the appreciation of the residence,
Source
- 2013–present26 U.S.C. § 143Internal Revenue Code · Mortgage revenue bonds: qualified mortgage bond and qualified veterans mortgage bond · under this section
For purposes of subparagraph (A), the term "qualified program" means any governmental program providing mortgage loans (other than 1st mortgage loans) or grants—
(i) which restricts (throughout the 9-year period beginning on the date the financing is provided) the resale of the residence to a purchaser qualifying under this section and to a price determined by an index that reflects less than the full amount of any appreciation in the residence's value, or
(ii) which provides for deferred or reduced interest payments on such financing and grants the governmental unit a share in the appreciation of the residence,
but only if such financing is not provided directly or indirectly through the use of any tax-exempt private activity bond.
Source
- 1997–201526 U.S.C. § 143Internal Revenue Code · Mortgage revenue bonds: qualified mortgage bond and qualified veterans mortgage bond · under this section
For purposes of subparagraph (A), the term “qualified program” means any governmental program providing mortgage loans (other than 1st mortgage loans) or grants—
(i) which restricts (throughout the 9-year period beginning on the date the financing is provided) the resale of the residence to a purchaser qualifying under this section and to a price determined by an index that reflects less than the full amount of any appreciation in the residence's value, or
(ii) which provides for deferred or reduced interest payments on such financing and grants the governmental unit a share in the appreciation of the residence,
but only if such financing is not provided directly or indirectly through the use of any tax-exempt private activity bond.
An issue meets the requirements of this subsection only if it meets the requirements of paragraphs (1), (2), and (3).
Source
- 1994–199726 U.S.C. § 143Internal Revenue Code · Mortgage revenue bonds: qualified mortgage bond and qualified veterans mortgage bond · under this section