### Question
Can you define what targeted area residence means?


### Answer
**Targeted area residence** is defined as the following in *26 U.S.C. § 143*:

> 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**

