TITLE 26. INTERNAL REVENUE CODE § 42. Low-income housing credit [Caution: For the inflation adjustment of certain items in this section, see the Revenue Procedure which appears as 26 USCS § 1 note.]., 26 USCS § 42
Summary
(a) In general. For purposes of section 38 [26 USCS § 38], the amount of the low-income housing credit determined under this section for any taxable year in the credit period shall be an amount equal to—
(b) Applicable percentage: 70 percent present value credit for certain new buildings; 30 percent present value credit for certain other buildings.