Summary
The Internal Revenue Service has released Revenue Ruling 2010-18, which establishes the applicable Housing Credit percentages under Section 42(b)(2) for July 2010.
Note: Under Section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, and before December 31, 2013, shall not be less than 9%.
The July 2010 Housing Credit percentages are as follows:
7.73% for the 70% Present Value Credit
3.31% for the 30% Present Value Credit
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