The authority may only issue an MCC to an applicant if the applicant meets the requirements the authority establishes for the program, which include requirements that ensure the applicant qualifies under 26 CFR 1.25-3T so that the MCC would be a qualified mortgage credit certificate pursuant to 26 CFR 1.25-3T.

Statutory Authority

§ 36-55.30:3 of the Code of Virginia.Derived from Virginia Register Volume 31, Issue 9, eff. January 1, 2015; amended, Virginia Register Volume 35, Issue 14, eff. March 4, 2019.