Ten Year Rule definition

Ten Year Rule means the following:
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Ten Year Rule means, generally, the rule requiring that there be a period of at least ten (10) years between the date a seller conveys a project (which is applying for Acquisition Credits) and the later of: (i) the latest date such seller acquired ownership of the project and placed in service the last building to be placed in service in the project; or (ii) the latest date such seller substantially improved the last building to be so improved in the project.
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Examples of Ten Year Rule in a sentence

  • Ten Year Rule Compliance:For applications seeking acquisition credits, provide evidence that each building complies with the 10-year rule in 42(d) or an approved IRS waiver of the 10- year rule.

  • Section 42(d)(6) of the Code provides an exception to the Ten Year Rule (the “Federally Financed Exception”) for properties that are substantially financed, operated or assisted under Section 8 of the U.S. Housing Act of 1937, Sections 221(d)(3), (d)(4) or 236 of the National Housing Act, Section 515 of the Housing Act of 1949 or any other housing program administered by HUD or the Rural Housing Service of the Department of Agriculture or any similar state housing program.

  • Please refer to Section 42(d) of the Code for exceptions to the Ten Year Rule.

  • National Council of State Housing Agencies, Ten Year Rule Impact on MRB Mortgage Lending, 2001-2005 (2001).

  • To practice beyond one year, the holder of the temporary license must fully comply with §163.7 of this title (relating to Ten Year Rule).

  • If the frequency and withdrawal date are not selected for either Single Life Expectancy, Five Year Rule, or Ten Year Rule distribution options, we will default to annually on the 25th of the current month.

  • If the development involves the acquisition of an existing building(s), provide a legal opinion from an attorney that the Ten Year Rule requirements will be or have been met or that the acquisition of the existing building is exempt from the Ten Year Rule.

  • Yet, for all his advocacy of force, Churchill had reduced Britain’s armed forces and set a standard for the continuing reduction (the Ten Year Rule) to a dangerous level.

  • Release of Cabinet Documents 10 Years or OlderOn 1 October 2009, the Government introduced its Freedom of Information Release of Cabinet Documents under the Ten Year Rule (the Ten Year Rule) policy issued as Premier and Cabinet Circular 31.

  • The Ten Year Rule sets out the StateGovernment’s policy in regard to the release of Cabinet documents under the Act after 10 years rather than the 20 years currently prescribed in the Act.

Related to Ten Year Rule

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • Limitation Year means the Plan Year.

  • Open Year has the meaning specified in Section 4.01(r)(iii).

  • Plan Year means the calendar year.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Plan Year(s means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned.

  • Top Heavy Plan Year means a Plan Year during which the Plan is a Top Heavy Plan.

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;

  • Look-Back Year means the twelve (12) month period preceding the Determination Year.

  • Three-Year Period means, with respect to a Restatement, the three completed fiscal years immediately preceding the date that the Board, a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare such Restatement, or, if earlier, the date on which a court, regulator or other legally authorized body directs the Company to prepare such Restatement. The “Three-Year Period” also includes any transition period (that results from a change in the Company’s fiscal year) within or immediately following the three completed fiscal years identified in the preceding sentence. However, a transition period between the last day of the Company’s previous fiscal year end and the first day of its new fiscal year that comprises a period of nine to 12 months shall be deemed a completed fiscal year.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Nonhighly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Determination Year means the Plan Year for which testing is being performed, and the “look-back year” means the immediately preceding twelve (12) month period.

  • Non-Highly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Prior Year means the year commencing 1 April immediately prior to the relevant Charging Year;

  • Taxable Year means a taxable year of the Corporate Taxpayer as defined in Section 441(b) of the Code or comparable section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made), ending on or after the IPO Date.

  • Highly Compensated Employee means an Employee who:

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Deferral Period has the meaning set forth in Section 3(i) hereof.

  • Non-Highly Compensated Participant means any Participant who is neither a Highly Compensated Employee nor a Family Member.

  • Election cycle means the period beginning on the first day persons are eligible to

  • Qualified Election Period means the six Plan Year period beginning with the Plan Year in which the Participant first becomes a Qualified Participant.

  • Crop year means any 12 month period which represents the planting, growing, harvesting and marketing of an insurable crop, as stated in the Schedules;

  • Termination Year means the calendar year in which the Employment Period is terminated.