Utah Statutes
§ 63H-8-408 — Allocation to corporation of mortgage bonds qualified under Internal Revenue Code.
Utah·Title 63H Independent State Entities·Ch. 63H-8 Utah Housing Corporation Act·Part 63H-8-4 Corporation Assets and Obligations
(1)The entire amount of qualified mortgage bonds allowable to Utah under 26 U.S.C. Sec. 143, and the regulations issued under the code, is allocated to the Utah Housing Corporation which, for purposes of 26 U.S.C. Sec. 143 and the regulations under that section, has sole responsibility for issuing or approving the issuance of qualified mortgage bonds allowable to Utah.
(2)The corporation is not required to issue or approve the issuance of qualified mortgage bonds equal in amount to the amount allowed Utah.
(3)Housing authorities in counties, cities, and towns in Utah may apply under 26 U.S.C. Sec. 143 to the corporation for funding of housing programs within their respective jurisdictions.
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Legislative History
Renumbered and Amended by Chapter 226, 2015 General Session
Nearby Sections
15
§ 63H-1-101
Title.§ 63H-1-102
Definitions.§ 63H-1-103
Severability.§ 63H-1-202
Applicability of other law.§ 63H-1-204
MIDA energy tax.§ 63H-1-205
MIDA accommodations tax.§ 63H-1-208
Former rail line.§ 63H-1-209
Immunity from contaminated property claims.§ 63H-1-301
Authority board -- Delegation of power.§ 63H-1-302
Number of board members -- Appointment.