### Question
What does qualified project period mean?


### Answer
**Qualified project period** has the following meaning in *26 U.S.C. § 142*:

> the period beginning on the 1st day on which 10 percent of the residential units in the project are occupied and ending on the latest of—


(i) the date which is 15 years after the date on which 50 percent of the residential units in the project are occupied,


(ii) the 1st day on which no tax-exempt private activity bond issued with respect to the project is outstanding, or


(iii) the date on which any assistance provided with respect to the project under section 8 of the United States Housing Act of 1937 terminates

#### Citation:
  - *26 U.S.C. § 142*
  - 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**

