Qualified Home Improvement Loan Law and Legal Definition
According to 26 USCS § 143 (k)(4) [Title 26. Internal Revenue Code; Subtitle A. Income Taxes; Chapter 1. Normal Taxes and Surtaxes; Subchapter B. Computation of Taxable Income; Part IV. Tax Exemption Requirements for State and Local Bonds; Subpart A. Private Activity Bonds], the term “qualified home improvement loan” means “the financing (in an amount which does not exceed $ 15,000)--
(A) of alterations, repairs, and improvements on or in connection with an existing residence by the owner thereof, but
(B) only of such items as substantially protect or improve the basic livability or energy efficiency of the property.”
Legal Definition list
- Qualified Highway or Surface Transfer Freight Facility Bond
- Qualified Health Plan (QHP)
- Qualified Handler
- Qualified Handicapped Person
- Qualified Green Building and Sustainable Design Project
- Qualified Home Improvement Loan
- Qualified Hospital Bond
- Qualified Housing Finance Agency [Banks & Banking]
- Qualified Immunity
- Qualified Independent Public Accountant
- Qualified Individual
Related Legal Terms
- Acquisition and Improvement Loan [Veterans' Relief]
- Acquisition Loan [HUD]
- Acquisition, Development and Construction (ADC) Loan
- Adjustable Rate Mortgage Loan
- Administrative Cost of Issuing a Loan Guarantee
- Air Loan
- Allowance for Loan and Lease Losses
- Alternate Payee to Qualified Domestic Relations Order
- American Society of Home Inspectors [ASHI]
- Amortized Loan
