4% Credits definition

4% Credits means Federal Credit available to Bond Financed Projects which meet the requirements of this Plan.
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4% Credits means HCs that may be Awarded in accordance with the applicable QAP to Projects with tax-exempt financing under the volume limitation on private activity bonds and, except as otherwise provided by this QAP for Applications combining 4% and 9% Credits, outside the competitive allocation process applicable to 9% Credits.
Sample 1Sample 2Sample 3
4% Credits means HCs that may be Awarded in accordance with the applicable QAP to Projects with tax-exempt financing under the volume limitation on private activity bonds and outside the competitive allocation process applicable to 9% Credits.
Sample 1Sample 2Sample 3

Examples of 4% Credits in a sentence

  • If 50% or more of a development’s aggregate basis is so financed, the development is entitled to 4% Credits for up to the full amount of the qualified basis.Bond Developments are required by the Code to apply through MHDC (as the Housing Credit Agency) for an allocation of 4% Credits and for a determination the development satisfies the requirements of this Plan.

  • In addition, Final Allocation of 4% Credits is subject to payment in full of applicable bond closing fees at bond closing per the MBOH Private Placement policy available on the MBOH website.

  • MHDC staff will issue Building Identification Number(s) in the 42(m) Letter.Developments receiving 4% Credits are required to follow the Final Allocation procedures described herein and to enter into a LIHTC LURA with regard to the development.

  • MHDC staff will issue Building Identification Number(s) in the 42(m) Letter.Developments receiving 4% Credits are required to follow the Tax Credit Issuance procedures described herein and to enter into a LIHTC LURA with regard to the development.V. COMPLIANCE MONITORINGSection 42(m)(1)(B)(iii) of the Code mandates that MHDC, as the State Housing Agency, monitor all placed in service tax credit developments for compliance with the provisions of the Code.

  • While an award of 4% Credits is not competitive, LHC will verify that all projects have the appropriate development team in place, meet all threshold requirements, and meet LHC’s underwriting requirements.

  • Similarly, MHDC may consider any application for 9% Credits for a potential allocation of 4% Credits.

  • Full Applications for tax-exempt financing and related 4% Credits may be submitted at any time; submission is not limited to the Application schedule set forth above for 9% Credit competitive awards.

  • Although the application does not have to compete for 4% Credits from the State Housing Credit Ceiling, applicants must submit an application during the posted NOFA period and meet all requirements of the reservation process and this Plan.MHDC staff will review the application, determine if the development is eligible and meets the requirements of this Plan, and make an initial determination of the development’s tax credit amount.

  • Projects applying for 4% Credits, or with the Average Income set aside will be allowed to have a weighted average income target of 60% or below.

  • MHDC shall have the right to consider any application for 4% Credits for a potential allocation of 9% Credits if the proposal meets the requirements and competes successfully with other 9% Credit applications.


More Definitions of 4% Credits

4% Credits means Federal Credit available to Bond Financed Projects which meet the requirements of the applicable QAP
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Related to 4% Credits

  • 9% Credits means Federal Credit allocated on a competitive basis under the provisions of this Plan.

  • Employer Credits means the amounts credited to the Participant’s Deferred Compensation Account by the Employer pursuant to the provisions of Section 4.2.

  • Credits means the Federal and State Housing Tax Credit program.

  • Emission Reduction Credits or “ERC(s)” means emission reductions that have been authorized by a local air pollution control district pursuant to California Division 26 Air Resources; Health and Safety Code Sections 40709 and 40709.5, whereby such district has established a system by which all reductions in the emission of air contaminants that are to be used to offset certain future increases in the emission of air contaminants shall be banked prior to use to offset future increases in emissions.

  • Service Credits means the service credits payable to the Purchaser by the Service Provider in the event that the Service Levels are not met and identified as service credits in the Pricing Schedule.

  • Tax Credits means any state, local and/or federal production tax credit, tax deduction, and/or investment tax credit specific to the production of renewable energy and/or investments in renewable energy facilities.

  • Credit Account is modified to read “Grant Account”.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Renewable Energy Credits means a certificate, credit, allowance, green tag, or other transferable indicia, howsoever entitled, allocated, assigned or otherwise awarded or certified by any Governmental Authority, program administrator, certification board or similar entity in connection with the production or generation of each MWh of energy from the Project. For the avoidance of doubt, “Renewable Energy Credits” shall not include any ITC, State Renewable Energy Incentives or other tax benefits, credits, or incentives.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • Universal Credit means any payment of Universal Credit payable under the Welfare Reform Act 2012, the Universal Credit Regulations 2013, The Universal Credit (Consequential, Supplementary, Incidental and Miscellaneous Provisions) Regulations 2013, Universal Credit (Miscellaneous Amendments) Regulations 2013 and the Universal Credit (Transitional Provisions) Regulations 2014;

  • Federal credit means the Low Income Housing Tax Credit established by the federal government for the purpose of encouraging the development of affordable housing and governed by the Code.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Auction Revenue Rights Credits means the allocated share of total FTR auction revenues or costs credited to each holder of Auction Revenue Rights, calculated and allocated as specified in Operating Agreement, Schedule 1, section 7.4.3, and the parallel provisions of Tariff, Attachment K-Appendix, section 7.4.3.

  • Cash” match means funds that are in the recipient’s possession or proposed by match partner and clearly identified in a support letter, and are reserved for the proposed project, meaning that they have not been committed for use or pledged as match for any other project. Cash match can include funding awards earned or received from other agencies for the proposed technologies or study (but not for the identical work). Proof that the funds exist as cash is required. Cash match will be considered more favorably than in-kind contributions during the scoring phase.

  • Aggregate Planned Balance With respect to any group of Planned Principal Classes or Components and any Distribution Date, the amount set forth for such group for such Distribution Date in Schedule V hereto.

  • Omnibus Account means any Shareholder Account the record owner of which is a registered broker-dealer which has agreed with the Transfer Agent to provide sub-transfer agent functions relating to each Sub-shareholder Account within such Shareholder Account as contemplated by this Schedule I in respect of each of the Funds.

  • Class PO Deferred Amount As to any Distribution Date, the aggregate of the applicable PO Percentage of each Realized Loss, other than any Excess Loss, to be allocated to the Class PO Certificates on such Distribution Date on or prior to the Senior Credit Support Depletion Date or previously allocated to the Class PO Certificates and not yet paid to the Holders of the Class PO Certificates.

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Regular contributions means the amounts required to be

  • Service Level Credit is defined in Section 8.