nonissued bond amount

(2) Aggregate limit on certificate credit rates (A) In general In the case of each qualified mortgage credit certificate program, the sum of the products determined by multiplying— (i) the certified indebtedness amount of each mortgage credit certificate issued under such program, by (ii) the certificate credit rate with respect to such certificate, shall not exceed 25 percent of the nonissued bond amount. (B) Nonissued bond amount For purposes of subparagraph (A), the term “nonissued bond amount” means, with respect to any qualified mortgage credit certificate program, the amount of qualified mortgage bonds which the issuing authority is otherwise authorized to issue and elects not to issue under subsection (c)(2)(A)(ii).


26 USC § 25(d)(2)

Scoping language

For purposes of this section
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