Definitions

As used in 90-6-131 through 90-6-137, the following definitions apply: (1) "Board" means the board of housing created in 2-15-1814. (2) "Coal tax trust fund" means the trust fund created pursuant to Article IX, section 5, of the Montana constitution. (3) "Fund" means the housing Montana fund created in 90-6-133. (4) "Housing development" has the meaning provided in 90-6-103. (5) "Low-income" means households whose incomes do not exceed 80% of the median income in the area, as determined by the United States department of housing and urban development, with adjustments for smaller or larger families. (6) "Moderate-income" means households whose incomes are between 81% and 95% of the median income for the area, as determined by the United States department of housing and urban development, with adjustments for smaller and larger families.