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Qualified School Construction Bonds (QSCB) are a U.S. debt instrument created by Section 1521 of the American Recovery and Reinvestment Act of 2009.The Tax Cuts and Jobs Act of 2017 eliminated QSCB issuances as of January 1, 2018, rendering any unissued allocation void, although all previously issued QSCBs remain valid as long as they are not reissued. [1]
A QSCB holder receives a Federal tax credit in lieu of an interest payment. The tax credits may be stripped from QSCB bonds and sold separately. QSCBs were created by Section 1521 of the American Recovery and Reinvestment Act of 2009. Internal Revenue Code Section 54F also addresses QSCBs.
Section 54 has its origins in British constitutional principles relating to public finances. After the English Civil War and the passage of the Bill of Rights , it was firmly established that legislation enacted by Parliament was needed for all taxes and all appropriations of public funds .
The tax amortization benefit factor (or TAB factor) is the result of a mathematical function of a corporate tax rate, a discount rate and a tax amortization period: = [(((+)))]
The formula placed an equal weight on three factors: group sales, payroll, and property within each jurisdiction. [1] Out of the forty-four states (plus one more jurisdiction, the District of Columbia ) which imposed a corporate income tax in 1978, all but Iowa used the Massachusetts Formula. [ 5 ]
In coordinate geometry, the Section formula is a formula used to find the ratio in which a line segment is divided by a point internally or externally. [1] It is used to find out the centroid, incenter and excenters of a triangle. In physics, it is used to find the center of mass of systems, equilibrium points, etc. [2] [3] [4] [5]
The coverage formula, contained in Section 4(b) of the Act, determines which states are subject to preclearance. As enacted in 1965, the first element in the formula was whether, on November 1, 1964, the state or a political subdivision of the state maintained a "test or device" restricting the opportunity to register and vote.
The section lift coefficient is based on two-dimensional flow over a wing of infinite span and non-varying cross-section so the lift is independent of spanwise effects and is defined in terms of ′, the lift force per unit span of the wing. The definition becomes