Section 7.332. Housing related bonds

An amount equal to $150 million shall be allocated for housing related bonds, including qualified residential rental projects and qualified mortgage bonds as defined by sections 142(d) and 143(a) of the Internal Revenue Code, as amended by section 1301(b) of the Tax Reform Act of 1986 (26 U.S.C.A. § 1301(b)). Requests to apply the housing related bond allocation to specific projects or uses, including mortgage credit certificate programs, will be reviewed and may be approved or disapproved by the Board of the Pennsylvania Housing Finance Agency. Applications for housing related bond allocations shall be made to the Executive Director of the Housing Finance Agency.

The provisions of this § 7.332 adopted by Executive Order 1987-1, dated January 7, 1987, effective January 1, 1987, 17 Pa.B. 240; corrected February 6, 1987, 17 Pa.B. 626.

Notation

Cross References

This section cited in 4 Pa. Code § 7.336 (relating to reallocations); and 12 Pa. Code § 63.2 (relating to provisions of the Tax-Exempt Bond Allocation Act suspended).