§146. Volume cap — Inbound Citations
26 U.S.C. § 146
Cited by 19 provisions in release 119-102.
Citations to 26 U.S.C. § 146 as a whole
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(ii) under which the issuing authority elects (in such manner and form as the Secretary may prescribe) not to issue an amount of private activity bonds which it may otherwise issue during such calendar year under section 146,
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(i) such obligation is taken into account under section 146, and
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(5) If the nonqualified amount with respect to an issue—(A) exceeds $15,000,000, but(B) does not exceed the amount which would cause a bond which is part of such issue to be treated as a private activity bond without regard to this paragraph,such bond shall nonetheless be treated as a private activity bond unless the issuer allocates a portion of its volume cap under section 146 to such issue in an amount equal to the excess of such nonqualified amount over $15,000,000.
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(A) a resident of the State from which the volume cap under section 146 for such loan was derived, or
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(2) such issue is an issue of exempt facility bonds, or qualified redevelopment bonds, to which section 146 applies.
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(F) a certification by a State official designated by State law (or, where there is no such official, the Governor) that the bond meets the requirements of section 146 (relating to cap on private activity bonds), if applicable, and
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(i) section 146 applies to the issue of which such bond is a part (other than by reason of section 141(b)(5)) or would apply but for section 146(i), or
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(A) such bond shall not be treated as a private activity bond for purposes of section 146, and
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(iii) section 146 shall not apply.
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(C) section 146 shall not apply.
Citations to §146(d)
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(1) If for any calendar year any mortgage credit certificate program which satisfies procedural requirements with respect to volume limitations prescribed by the Secretary fails to meet the requirements of paragraph (2) of subsection (d), such requirements shall be treated as satisfied with respect to any certified indebtedness of such program, but the applicable State ceiling under subsection (d) of section 146 for the State in which such program operates shall be reduced by 1.25 times the correction amount with respect to such failure. Such reduction shall be applied to such State ceiling for the calendar year following the calendar year in which the Secretary determines the correction amount with respect to such failure.
Citations to §146(d)(3)(C)
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(3) 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 reduction.
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(iii) For purposes of this paragraph, the term “constitutional home rule city” has the meaning given such term by section 146(d)(3)(C).
Citations to §146(e)
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(F) Rules similar to the rules of section 146(e) (other than paragraph (2)(B) thereof) shall apply for purposes of this paragraph.
Citations to §146(f)
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(ii) A State may elect to carry forward an unused limitation for any calendar year for 3 calendar years following the calendar year in which the unused limitation arose under rules similar to the rules of section 146(f), except that the only purpose for which the carryforward may be elected is the issuance of exempt facility bonds described in subsection (a)(13).
Citations to §146(i)
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(i) section 146 applies to the issue of which such bond is a part (other than by reason of section 141(b)(5)) or would apply but for section 146(i), or
Citations to §146(i)(6)
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(ii) principal payments on such financing are applied within a reasonable period to redeem obligations the proceeds of which were used to provide such financing or such financing is refunded as described in section 146(i)(6).
Citations to §146(j)
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(iii) The amount allocated under this subparagraph to a qualified State for any calendar year shall be the amount determined by the Secretary to bear the same ratio to the aggregate unused housing credit carryovers of all States for the preceding calendar year as such State’s population for the calendar year bears to the population of all qualified States for the calendar year. For purposes of the preceding sentence, population shall be determined in accordance with section 146(j).
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(G) For purposes of this paragraph, population shall be determined in accordance with section 146(j).