The verbiage in the ref guide says at least 20% of population is at or below poverty rate of state, provincial, or other regional jurisdiction. So if the regional poverty rate is 20%, and the census tract poverty rate is 24% (20% more than the region) it is my understanding that this qualifies for the credit. Am I interpreting this correctly?
Hi Jyothsna,
Not quite - the "poverty rate" in this case is the income below which a household is considered to be in poverty. So 20% of the people in that census tract would be making below the income level defined as poverty by the state or province. Any census tract (or equivalent outside the US) with a number over 20% would then qualify for the credit.