Units serving lower income households definition

Units serving lower income households means units that are occupied by lower income households at an affordable rent, as defined in section 50053 of the Health and Safety Code or, to the extent that the terms of federal, state, or local financing or financial assistance conflicts with section 50053, rents that do not exceed those prescribed by the terms of the financing or financial assistance. Effective October 13, 2017, pursuant to Revenue and Taxation Code section 214(g)(2)(A)(iii), a unit in a property that receives federal low income housing tax credits shall continue to be treated as occupied by a lower income household if the occupants were lower income households on the lien date in the fiscal year in which their occupancy of the unit commenced and the unit continues to be rent restricted, notwithstanding an increase in the income of the occupants of the unit to 140 percent of area median income (AMI), adjusted for family size (“over-income” tenants). Units reserved for lower income households at an affordable rent that are temporarily vacant due to tenant turnover or repairs shall be counted as occupied.
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Units serving lower income households means units that are occupied by lower income households at an affordable rent, as defined in section 50053 of the Health and Safety Code or, to the extent that the terms of federal, state, or local financing or financial assistance conflicts with section 50053, rents that do not exceed those prescribed by the terms of the financing or financial assistance. Units reserved for lower income households at an affordable rent that are temporarily vacant due to tenant turnover or repairs shall be counted as occupied.
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Units serving lower income households means units that are occupied by
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Examples of Units serving lower income households in a sentence

  • Units reserved for lower income households at an affordable rent that are temporarily vacant due to tenant turnover or repairs shall be counted as occupied.(ii) (I) "Units serving lower income households" shall also mean units specified in clause (iii) of subparagraph (A) of paragraph (2).(II) This clause shall only be operative from the 2018–19 fiscal year through the 2027–28 fiscal year.

Related to Units serving lower income households

  • Lower income household means a household having an income equal to or less than the

  • Vesting Date has the meaning set forth in Section 3.10(c)(ii).

  • Service-disabled veteran-owned business means a service-disabled veteran-owned business located in the State of Tennessee that satisfies the criteria in Tenn. Code. Ann. § 12-3-1102(8). "Service-disabled veteran" means any person who served honorably in active duty in the armed forces of the United States with at least a twenty percent (20%) disability that is service-connected, i.e., the disability was incurred or aggravated in the line of duty in the active military, naval or air service.

  • Net Asset Value per Share means the Net Asset Value of a Fund divided by the

  • Religious holy day means a holy day observed by a religion whose places of worship are exempt from property taxation under Section 11.20, Tax Code.

  • Eligible Household means a household charged a UEC on their natural gas and/or electricity for the residence at which they reside as evidenced by their utility bill or UEC-participating utility vendor, has annual income at or below the current income limits of the federal poverty level, and meets other income criteria for assistance from the Nevada Fund for Energy Assistance and Conservation. Conversely, households not charged a UEC are ineligible for assistance from the fund. A household that receives benefits funded with LIHEAP grant monies may also be referred to as an eligible household in this plan. Also, refer to “UEC Eligible.”