§ 12744. Income targeting
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/usc/title-42/section-12744A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Each participating jurisdiction shall invest funds made available under this part within each fiscal year so that—
(1)with respect to rental assistance and rental units—
(A)not less than 90 percent of
(i)the families receiving such rental assistance are families whose incomes do not exceed 60 percent of the median family income for the area, as determined by the Secretary with adjustments for smaller and larger families, (except that the Secretary may establish income ceilings higher or lower than 60 percent of the median for the area on the basis of the Secretary’s findings that such variations are necessary because of prevailing levels of construction cost or fair market rent, or unusually high or low family income) at the time of occupancy or at the time funds are invested, whichever is later, or
(ii)the dwelling units assisted with such funds are occupied by families having such incomes; and
(B)the remainder of
(i)the families receiving such rental assistance are households that qualify as low-income families (other than families described in subparagraph (A)) at the time of occupancy or at the time funds are invested, whichever is later, or
(ii)the dwelling units assisted with such funds are occupied by such households;
(2)with respect to homeownership assistance, 100 percent of such funds are invested with respect to dwelling units that are occupied by households that qualify as low-income families; and
(3)all such funds are invested with respect to housing that qualifies as affordable housing under section 12745 of this title.
(Pub. L. 101–625, title II, § 214, Nov. 28, 1990, 104 Stat. 4101; Pub. L. 103–233, title II, § 202, Apr. 11, 1994, 108 Stat. 364; Pub. L. 105–276, title V, § 599B(a), Oct. 21, 1998, 112 Stat. 2660.)
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- Public Law 105–276Making appropriations for the Departments of Veterans Affairs and Housing and Urban Development, and for sundry independent agencies, boards, commissions, corporations, and offices for the fiscal year ending September 30, 1999, and for other purposes
- Public Law 101–625To authorize a new HOME Investment Partnerships program, a National Homeownership Trust program, and HOPE programs, to amend and extend certain laws relating to housing, community and neighborhood preservation, and related programs, and for other purposes
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- Pub. L. 101–625, title II, § 214
- 104 Stat. 4101
- Pub. L. 103–233, title II, § 202
- 108 Stat. 364
- Pub. L. 105–276, title V, § 599B(a)
- 112 Stat. 2660
- Pub. L. 105–276
- Pub. L. 103–233, § 202(1)
- Pub. L. 103–233, § 202(2)
- Pub. L. 105–276, title V, § 599B(c)
- Pub. L. 103–233
- section 209 of Pub. L. 103–233
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§ 12744
Income targeting
Fed. Reg.×3
Stat.×3
U.S.C.×3
Stat. Comp.×1
Pub. L.Pub. L. 101–625, title II, § 214
Stat.104 Stat. 4101
Pub. L.Pub. L. 103–233, title II, § 202
Stat.108 Stat. 364
Pub. L.Pub. L. 105–276, title V, § 599B(a)
Cites 14 · showing 7Cited by 10 across 4 sources