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Qualified mortgage revenue bonds
Whether the portion of the interest payments on mortgage loans (financed with the proceeds of mortgage revenue bonds under section 143 of the Internal Revenue Code of 1986 (the "1986 Code") used to pay the Government National Mortgage Association ("GNMA") to guarantee the payment on the mortgage loans must be taken into account in determining the effective rate of interest on the mortgage loans.
This letter is in response to a ruling request concerning the use of proceeds of tax-exempt bonds to finance the purchase of certain residential mortgage loans. Specifically, it has been asked whether residences that are located on Indian reservation lands within the boundaries of the State are "located within the jurisdiction of" the Agency for purposes of section 143(c)(1)(B) of the Internal Revenue Code (the "Code").
This replies to a ruling request on behalf of the Authority concerning the use of average area purchase price limitations based upon more accurate and comprehensive data than that used to calculate the safe harbor limitations published in Rev. Proc. 94-55, 1994-2 C.B. 716. The Authority submitted data concerning sales of new single-family residences for certain metropolitan statistical areas and for all other areas for the 12-month period from January 1, 1998, to December 31, 1998.
Average area purchase price
This replies to your ruling request on behalf of the Authority concerning the use of average area purchase price limitations based upon more accurate and comprehensive data than that used to calculate the safe harbor limitations published in Revenue Procedure 94-55, 1994-2 C.B. 706.
This replies to your ruling request on behalf of the Authority concerning the use of average area purchase price limitations based upon more accurate and comprehensive date than that used to calculate the safe harbor limitations published in Rev. Proc. 94-55, 1994-2 C.B. 716.
This replies to your ruling request on behalf of the Authority concerning the use of average area purchase price limitations based upon more accurate and comprehensive data than that used to calculate the safe harbor limitations published in Rev. Proc. 94-55, 1994-2 C.B. 706.
This replies to a ruling request on behalf of the Authority concerning the use of average area purchase price limitations based upon more accurate and comprehensive data than that used to calculate the safe harbor limitations published in Rev. Proc. 94-55, 1994-2 C.B. 706. The Authority submitted data concerning sales of new single-family residences for certain metropolitan statistical areas and for all other areas for the 12-month period from January 1, 1999, to December 31, 1999.