§12744 — Title 42 The Public Health and Welfare | U.S. Code

Summary

Each participating area must invest its yearly program money so rental help mostly goes to lower-income families. At least 90 percent of the families getting rental help (or the rental units helped) must have incomes at or below 60 percent of the area median income, with family-size adjustments, when they move in or when the money is spent, whichever is later. The Secretary can set a different income limit above or below 60 percent if local costs or incomes make that necessary. The rest must go to other low-income families. All home-buying help must go to low-income households. Every dollar must be used for housing that meets the program’s definition of affordable housing.

Title 42, §12744

The Public Health and Welfare — Source: USLM XML via OLRC

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.

Notes & Related Subsidiaries

Editorial Notes

Amendments

1998—Par. (2). Pub. L. 105–276 struck out “at the time of occupancy or at the time funds are invested, whichever is later” before “; and”. 1994—Par. (1)(A). Pub. L. 103–233, § 202(1), substituted “(i) the families receiving such rental assistance are” for “such funds are invested with respect to dwelling units that are occupied by”, “, or” for “, and” before cl. (ii), and added cl. (ii). Par. (1)(B). Pub. L. 103–233, § 202(2), substituted “(i) the families receiving such rental assistance are” for “such funds are invested with respect to dwelling units that are occupied by” and added cl. (ii).

Statutory Notes and Related Subsidiaries

Effective Date

of 1998 Amendment Pub. L. 105–276, title V, § 599B(c), Oct. 21, 1998, 112 Stat. 2660, provided that: “The

Amendments

made by this section [amending this section and section 12745 of this title] are made on, and shall apply beginning upon, the date of the enactment of this Act [Oct. 21, 1998].”

Effective Date

of 1994 AmendmentAmendment by Pub. L. 103–233 applicable with respect to any amounts made available to carry out this subchapter after Apr. 11, 1994, and any amounts made available to carry out this subchapter before that date that remain uncommitted on that date, with Secretary to issue any

Regulations

necessary to carry out such amendment not later than end of 45-day period beginning on that date, see section 209 of Pub. L. 103–233, set out as a note under section 5301 of this title.

§12744 Income Targeting

Summary

Title 42, §12744

Notes & Related Subsidiaries

Editorial Notes

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Amendments

Effective Date

Regulations

Citations & Metadata