QCT definition

QCT or “Qualified Census Tract” means any census tract which is designated by the Secretary of Housing and Urban Development as having either 50 percent or more of the households at an income which is less than 60 percent of the area median gross income, or a poverty rate of at least 25 percent, in accordance with Section 42(d)(5)(B) of the IRC.

QCT 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.

QCT or “Qualified Census Tract” means any census tract that is designated by the Secretary of HUD as having either fifty percent (50%) or more of the households at an income that is less than sixty percent (60%) AMI or a poverty rate of at least twenty five percent (25%), in accordance with Section 42(d)(5)(C) of the Code.

Examples of QCT 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.

• If “Yes”, indicate the HUD-designated QCT census tract number: Click here to enter text.

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

• To declare this proposed Development as the first phase of a multiphase Development, the question in Exhibit A must be answered “Yes” and at least one building must be located within the HUD- designated DDA or HUD-designated QCT stated in Exhibit A.

More Definitions of QCT

QCT or “Qualified Census Tract” means any census tract which is designated by the Secretary of

QCT or “Qualified Census Tract” means any census tract which is designated by the Secretary of Housing and Urban Development as having either 50 percent or more of the households at an income which is less than 60 percent of the area median gross income, or a poverty rate of at least

QCT or “Qualified Census Tract” means any census tract which is designated by the Secretary of Housing and Urban Development as having either 50 percent or more of the households at an income which is less than 60 percent of the area median gross income, or a poverty rate of at least 25 percent, in accordance with Section 42(d)(5)(B)(C) of the IRC. (96)(97) “RD” or “Rural Development” means Rural Development Services (formerly the “Farmer’s Home Administration” or “FmHA”) of the United States Department

QCT. “Qualified Census Tract” means any census tract which is designated by the Secretary of Housing and Urban

QCT or “Qualified Census Tract” means any census tract which is

QCT or “Qualified Census Tract” means any census tract which is designated by the Secretary of Housing and Urban Development as having either 50 percent or more of the

QCT means an area of the State designated by HUD as a qualified census tract pursuant to