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CCH (cch.taxgroup.com) reports:

A taxpayer that disposes of a qualified low-income building or interest therein can defer or avoid recapture of the low-income housing credit by furnishing a bond to the IRS. A table published by the IRS provides the bond factor amounts for calculating the amount of bond considered satisfactory under Code Sec. 42(j)(6) or the amount of U.S. Treasury securities to pledge in a Treasury Direct Account under Rev. Proc. 99-11, 1999-1 CB 275. These amounts are to be used by taxpayers that disposed of qualified low-income buildings or interests therein during the months of January through September, 2007.
For buildings or interests placed in service in 1993 through 2007 and disposed of in January, the bond factor amounts are: 1993, 17.39 percent; 1994, 32.44 percent; 1995, 45.52 percent; 1996, 56.97 percent; 1997, 66.95 percent; 1998, 69.23 percent; 1999, 71.86 percent; 2000, 74.74 percent; 2001, 78.09 percent; 2002, 81.82 percent; 2003, 85.82 percent; 2004, 89.79 percent; 2005, 93.41, 2006, 96.70 percent; and 2007, 97.21 percent.
For buildings or interests placed in service in 1993 through 2007 and disposed of in February, the bond factor amounts are: 1993, 17.39 percent; 1994, 32.44 percent; 1995, 45.52 percent; 1996, 56.97 percent; 1997, 66.95 percent; 1998, 69.08 percent; 1999, 71.70 percent; 2000, 74.56 percent; 2001, 77.89 percent; 2002, 81.60 percent; 2003, 85.57 percent; 2004, 89.50 percent; 2005, 93.07, 2006, 96.27 percent; and 2007, 97.21 percent.
For buildings or interests placed in service in 1993 through 2007 and disposed of in March, the bond factor amounts are: 1993, 17.39 percent; 1994, 32.44 percent; 1995, 45.52 percent; 1996, 56.97 percent; 1997, 66.95 percent; 1998, 68.92 percent; 1999, 71.53 percent; 2000, 74.39 percent; 2001, 77.71 percent; 2002, 81.40 percent; 2003, 85.33 percent; 2004, 89.22 percent; 2005, 92.75 percent; 2006, 95.89 percent; and 2007, 97.21 percent.
For buildings or interests placed in service in 1993 through 2007 and disposed of in April, the bond factor amounts are: 1993, 17.39 percent; 1994, 32.44 percent; 1995, 45.52 percent; 1996, 56.97 percent; 1997, 66.95 percent; 1998, 68.77 percent; 1999, 71.37 percent; 2000, 74.22 percent; 2001, 77.52 percent; 2002, 81.19 percent; 2003, 85.11 percent; 2004, 88.96 percent; 2005, 92.46 percent; 2006, 95.57 percent; and 2007, 97.21 percent.
For buildings or interests placed in service in 1993 through 2007 and disposed of in May, the bond factor amounts are: 1993, 17.39 percent; 1994, 32.44 percent; 1995, 45.52 percent; 1996, 56.97 percent; 1997, 66.95 percent; 1998, 68.62 percent; 1999, 71.22 percent; 2000, 74.05 percent; 2001, 77.35 percent; 2002, 81.00 percent; 2003, 84.89 percent; 2004, 88.72 percent; 2005, 92.18 percent; 2006, 95.28 percent; and 2007, 97.21 percent.
For buildings or interests placed in service in 1993 through 2007 and disposed of in June, the bond factor amounts are: 1993, 17.39 percent; 1994, 32.44 percent; 1995, 45.52 percent; 1996, 56.97 percent; 1997, 66.95 percent; 1998, 68.47 percent; 1999, 71.06 percent; 2000, 73.89 percent; 2001, 77.17 percent; 2002, 80.81 percent; 2003, 84.68 percent; 2004, 88.48 percent; 2005, 91.93 percent; 2006, 95.02 percent; and 2007, 97.21 percent.
For buildings or interests placed in service in 1993 through 2007 and disposed of in July, the bond factor amounts are: 1993, 17.39 percent; 1994, 32.44 percent; 1995, 45.52 percent; 1996, 56.97 percent; 1997, 66.95 percent; 1998, 68.32 percent; 1999, 70.91 percent; 2000, 73.74 percent; 2001, 77.01 percent; 2002, 80.63 percent; 2003, 84.47 percent; 2004, 88.25 percent; 2005, 91.69 percent; 2006, 94.79, percent; and 2007, 97.21 percent.
For buildings or interests placed in service in 1993 through 2007 and disposed of in August, the bond factor amounts are: 1993, 17.39 percent; 1994, 32.44 percent; 1995, 45.52 percent; 1996, 56.97 percent; 1997, 66.95 percent; 1998, 68.18 percent; 1999, 70.76, percent; 2000, 73.58 percent; 2001, 76.84 percent; 2002, 80.45 percent; 2003, 84.28 percent; 2004, 88.04 percent; 2005, 91.46 percent; 2006, 94.58, percent; and 2007, 97.21 percent.
For buildings or interests placed in service in 1993 through 2007 and disposed of in September, the bond factor amounts are: 1993, 17.39 percent; 1994, 32.44 percent; 1995, 45.52 percent; 1996, 56.97 percent; 1997, 66.95 percent; 1998, 68.04 percent; 1999, 70.62, percent; 2000, 73.43 percent; 2001, 76.68 percent; 2002, 80.27 percent; 2003, 84.09 percent; 2004, 87.83 percent; 2005, 91.25 percent; 2006, 94.39, percent; and 2007, 97.21 percent.
Rev. Rul. 2007-46, 2007FED ¶46,552
Other References:
Code Sec. 42
CCH Reference - 2007FED ¶177.01
CCH Reference - 2007FED ¶4385.05
CCH Reference - 2007FED ¶4385.72
Tax Research Consultant
CCH Reference - TRC BUSEXP: 54,200