Section .0600 ‑ Mortgage Credit Certificate Program

Published: 2015

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now



24 NCAC 01D .0601          PURPOSE

The purpose of a Mortgage Credit Certificate (MCC) program

is to make housing more affordable for low‑ and moderate‑income

home buyers.  An MCC operates as a federal income tax credit.  The MCC reduces

the federal income taxes of eligible home buyers that purchase qualified

residences.  The MCC can assist the purchase of either a new or an existing

single family residence.


History Note:        Filed as a Temporary Adoption Eff. September

22, 1987 for

a Period of 120 Days to Expire on January 20, 1988;

Authority G.S. 122A‑5; 122A‑5.1; 122A‑5.4;

122A‑5.6; Sec. 25, IRC; 26 CFR 1.25;

Eff. January 1, 1988.