The authority may issue an MCC to an applicant only if his application for the MCC is based upon his purchasing a principal residence that 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.