State ceiling definition

State ceiling means the State’s housing credit ceiling established pursuant to Section 42(h)(3)(C) of the Code.

State ceiling means the aggregate amount of certain private activity bonds, including qualified mortgage bonds, that may be issued in any calendar year in this state pursuant to section 146 of the internal revenue code of 1986, 26 USC 146.

State ceiling means the State housing credit ceiling established in Section 42(h)(3)(C) of the Code.

Examples of State ceiling in a sentence

• The preceding sentence shall not apply for purposes of determining the average area purchase price for single-family residences, nor shall it apply for pur- poses of determining the State ceiling amount.

• While the Code provides an allocation scheme for specific issuing authorities, it also provides that a state may, by law, provide a different formula for allocating the State ceiling among the governmental units in the State having authority to issue such bonds.

• The State ceiling for the cal- endar year following the calendar year in which the Commissioner determines the cor- rection amount is reduced by $25 million (the correction amount multiplied by 1.25).

• The amount of qualified mortgage bonds which an issuing au- thority is authorized to issue is deter- mined under section 103A(g) and the regulations thereunder; such deter- mination shall take into account any prior elections by the issuer not to issue qualified mortgage bonds, the amount of any reduction in the State ceiling under paragraph (d) of this sec- tion, and the aggregate amount of qualified mortgage bonds issued by the issuer prior to its election not to issue qualified mortgage bonds.

• Based on the most recent estimate of the resi- dent population of State Y published by the Bureau of the Census before the beginning of 1988, the State ceiling for State Y is $200 million.

More Definitions of State ceiling

State ceiling means the amount of Qualified Private Activity Bonds that can be issued in California for each calendar year specified by 26 U.S.C. section 146(d), and the amount reserved to California pursuant to sections 1112 and 1401 of the American Recovery and Reinvestment Act of 2009 as established by and announced by the Committee in accordance with article 2 of this chapter.

State ceiling means the same as defined in section 146(d) of the Internal Revenue Code.

State ceiling means the limit of the aggregate amount for the applicable year of restricted bonds (exclusive of carryforward and refunding bonds) that may be issued by all issuers within the state, as prescribed by the act.

State ceiling means the dollar limit of the aggregate amount of private activity bonds that may be issued in this state pursuant to section 146 of the code for each calendar year, beginning in 1988.

State ceiling means the volume limitation for each

State ceiling means the limit which is prescribed by the

State ceiling means the dollar limit of the aggregate