Qualified Low-Income Community Investment [Tax] Law and Legal Definition

According to 26 USCS § 45D [Title 26. Internal Revenue Code; Subtitle A. Income Taxes; Chapter 1. Normal Taxes And Surtaxes; Subchapter A. Determination Of Tax Liability; Part IV. Credits Against Tax; Subpart D. Business Related Credits], the term "qualified low-income community investment" means:

(A) any capital or equity investment in, or loan to, any qualified active low-income community business,

(B) the purchase from another qualified community development entity of any loan made by such entity which is a qualified low-income community investment,

(C) financial counseling and other services specified in regulations prescribed by the Secretary to businesses located in, and residents of, low-income communities, and

(D) any equity investment in, or loan to, any qualified community development entity.