### Question
How is the "targeted area residence" defined?


### Answer
The term **targeted area residence** is defined in *26 U.S.C. § 143* as follows -

> a residence in an area which is either—



(A) a qualified census tract, or



(B) an area of chronic economic distress

#### Citation:
  - *26 U.S.C. § 143*
  - Heading: **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**

