Qualified Census Tract definition

Qualified Census Tract means any Census tract which is designated by the Secretary of Housing and Urban Development as having 50 percent or more of the households at an income level which is less than 60 percent of the Area Gross Median Income in accordance with Section 42(d)(5) of the Code.

Qualified Census Tract or “QCT” means an area designated as such by HUD. “Qualified Management Company” means a Management Company that meets the

Qualified Census Tract means any qualified census tract as defined in Section 42(d)(5)(C) of the Code.

Examples of Qualified Census Tract in a sentence

• Basis Boost QualificationsWith regard to Housing Credits, HUD provides regulatory guidance on the effective date of Difficult Development Area (DDA) and Qualified Census Tract (QCT) lists for the purpose of determining whether a Development qualifies for an increase in eligible basis in accordance with Section 42(d)(5)(B) of the IRC.

• A presumed resale restriction that exists because the property is located in a Qualified Census Tract (QCT) as defined by Internal Revenue Code Section 143(j)(2) as a census tract in which 70 percent or more of the families have an income which is 80 percent or less of the statewide median family income.

• Under 602(c)(1)(A) or 603(c)(1)(A), a general infrastructure project typically would not be considered a response to the public health emergency and its negative economic impacts unless the project responds to a specific pandemic-related public health need (e.g., investments in facilities for the delivery of vaccines) or a specific negative economic impact of the pandemic (e.g., affordable housing in a Qualified Census Tract).

• Projects are eligible for State credits regardless of their location within a federal Qualified Census Tract (QCT) or a Difficult Development Area (DDA).

• A Qualified Census Tract: seventy percent (70%) or more of the families have an income which is eighty percent (80%) or less of the statewide median family income.

More Definitions of Qualified Census Tract

Qualified Census Tract means an area of the State designated by HUD as a qualified census tract pursuant to Section 42(d)(5)(B)(ii) of the Code.

Qualified Census Tract means an economically distressed urban area that is a qualified census tract as defined and designated by the United States department of housing and urban development.

Qualified Census Tract. (“QCT”) shall mean an area designated by the Secretary of HUD where, for the most recent year for which census data are available on household income in such tract, either 50 percent or more of the households in the tract have an income which is less than 60 percent of the area median gross income or the tract’s poverty rate is at least 25 percent. QCTs are designated annually as new income and poverty rate data are released. See HUD map for

Qualified Census Tract means a census tract, as defined by the U.S. Census Bureau, having 50 percent of households with incomes below 60 percent of the Area Median Gross Income (AMGI) or having a poverty rate of 25 percent or more.

Qualified Census Tract means any census tract that is designated by the Secretary of Housing and Urban Development pursuant to 26 U.S.C. section 42(d)(5)(C).

Qualified Census Tract or “QCT” means any census tract which is designated by the Secretary of Housing and Urban Development as having either 50% or more of the households at an income which is less than 60% of the area median gross income, or a poverty rate of at least 25%, in accordance with section 42(d)(5)(C) of the Code. A list of the 2003 Florida QCTs is adopted and incorporated herein by reference. A copy of such list is available on FHFC’s web site www.floridahousing.org. The United States Department of Housing and Urban Development maintains the official QCT list. The incorporated Florida QCT list is designed to assist the Applicant in the Application process. Applicants are responsible for providing Florida Housing with accurate QCT information.

Qualified Census Tract means areas of the State which meet the requirements of Section 42(d)(5)(C)(ii)(I) of the Code.