Average income test applicability to exempt facility bonds

(a) In general Paragraph (1) of section 142(d) of the Internal Revenue Code of 1986 is amended— (1) by striking (A) or (B) and inserting (A), (B), or (C), and (2) by inserting after subparagraph (B) the following new subparagraph: (C) Average income test A project meets the requirements of this subparagraph if it meets the minimum requirements of section 42(g)(1)(C).. (b) Effective date The amendments made by this section shall apply to elections made under section 142(d)(1) of the Internal Revenue Code of 1986 after March 23, 2018.