Or. Admin. Code § 813-080-0015

Current through Register Vol. 63, No. 12, December 1, 2024

Section 813-080-0015 - Tax Credit

(1) The Mortgage Credit Certificate shall authorize the certificate holder to claim a federal income tax credit in connection with a mortgage loan on a single-family residence which is the certificate holder's principal residence. The amount of the tax credit is determined by multiplying the amount of the mortgage interest paid or accrued on the principal residence of the certificate holder during the taxable year by the tax credit rate.

(2) The issuer shall determine the Tax Credit Rate in accordance with Section 25(d) of the Internal Revenue Code of 1986, as amended, and applicable regulations thereunder.

1HD 2-1986(Temp), f. & ef. 6-17-86; 1HD 4-1986, f. & ef. 12-3-86; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 17-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91

Publications: The publication(s) referred to or incorporated by reference in this rule are available from the agency.

Stat. Auth.: ORS 90.800 - ORS 90.840, ORS 91.886, ORS 183, ORS 456.515 - ORS 456.723 & ORS 458.210 - ORS 458.650

Stats. Implemented: ORS 456.605