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.

• 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).

• In the case of a State having one or more constitutional home rule cities (within the meaning of section 146(d)(3)(C)), the reduction in the State ceiling by reason of paragraph (1) shall be allocated to the constitutional home rule city, or to the portion of the State not within such city, whichever caused the reduc- tion.

• Ex- cept as provided in paragraph (g)(4) of this section, the market limitation for any State housing finance agency for any calendar year shall be 50 percent of the State ceiling for such year.

• Neither the Governor nor the legislature of State Y has pro- vided a different formula for allocating the State ceiling than that provided by section 103(n) (2) and (3); thus, City Q’s private activity bond limit for 1988 is $25 million (.25 × .50 × $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