Sec. 11501. Inclusion of rural areas as difficult development areas
111 words·~1 min read·
/bill/119/hr/6900/ih/section-11501·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subclause
(I)of section 42(d)(5)(B)(iii), as amended by section 11402, is further amended by inserting , any rural area after median gross income . Clause
(iii)of section 42(d)(5)(B), as amended by section 11402, is further amended by redesignating subclause
(III)as subclause
(IV)and by inserting after subclause
(II)the following new subclause: For purposes of subclause (I), the term rural area means any non-metropolitan area, or any rural area as defined by section 520 of the Housing Act of 1949, which is identified by the qualified allocation plan under subsection (m)(1)(B). . The amendments made by this section shall apply to buildings placed in service after December 31, 2025.