rr-00-23.pdf

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# Part I

Section 1274 .-- Determination of Issue Price in the Case of
Certain Debt Instruments Issued for Property

(Also Sections 42, 280G, 382, 412, 467, 468, 482, 483, 642, 807,
846, 1288, 7520, 7872.)

# Rev. Rul. 2000-23

This revenue ruling provides various prescribed rates for
federal income tax purposes for May 2000 (the current month.)
Table 1 contains the short-term, mid-term, and long-term
applicable federal rates (AFR) for the current month for purposes
of section 1274 (d) of the Internal Revenue Code. Table 2
contains the short-term, mid-term, and long-term adjusted
applicable federal rates (adjusted AFR) for the current month for
purposes of section 1288 (b). Table 3 sets forth the adjusted
federal long-term rate and the long-term tax-exempt rate
described in section 382 (f). Table 4 contains the appropriate
percentages for determining the low-income housing credit
described in section 42 (b) (2) for buildings placed in service
during the current month. Finally, Table 5 contains the federal
rate for determining the present value of an annuity, an interest
for life or for a term of years, or a remainder or a reversionary
interest for purposes of section 7520.

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REV. RUL. 2000-23 TABLE 1 Applicable Federal Rates (AFR) for May 2000 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-Term

AFR

6.42%

6.32%

6.27%

6.24%

110% AFR

7.07%

6.95%

6.89%

6.85%

120% AFR

7.72%

7.58%

7.51%

7.46%

130% AFR

8.39%

8.22%

8.14%

8.08%

Mid-Term

AFR

6.40%

6.30%

6.25%

6.22%

110% AFR

7.05%

6.93%

6.87%

6.83%

120% AFR

7.70%

7.56%

7.49%

7.44%

130% AFR

8.36%

8.19%

8.11%

8.05%

150% AFR

9.67%

9.45%

9.34%

9.27%

175% AFR

11.33%

11.03%

10.88%

10.78%

Long-Term

AFR

6.20%

6.11%

6.06%

6.03%

110% AFR

6.83%

6.72%

6.66%

6.63%

120% AFR

7.46%

7.33%

7.26%

7.22%

130% AFR

8.10%

7.94%

7.86%

7.81%

REV. RUL. 2000-23 TABLE 2 Adjusted AFR for May 2000

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term adjusted AFR

4.34%

4.29%

4.27%

4.25%

Mid-term adjusted AFR

4.91%

4.85%

4.82%

4.80%

Long-term adjusted AFR

5.57%

5.49%

5.45%

5.43%

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# REV. RUL. 2000-23 TABLE 3

Rates Under Section 382 for May 2000
Adjusted federal long-term rate for the current month
5.57%

Long-term tax-exempt rate for ownership changes
during the current month (the highest of the adjusted
federal long-term rates for the current month and the
prior two months. )

5.84%

## REV. RUL. 2000-23 TABLE 4

Appropriate Percentages Under Section 42 (b) (2)
for May 2000

REV. RUL. 2000-23 TABLE 5 Rate Under Section 7520 for May 2000

Appropriate percentage for the 70% present value low-income housing credit

8.48%

Appropriate percentage for the 30% present

value low-income housing credit

3.63%

Applicable federal rate for determining the present
value of an annuity, an interest for life or a term
of years, or a remainder or reversionary interest
7.8%