42 U.S. Code § 12744 - Income targeting

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.

Source

(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.)
Amendments

1998—Par. (2). Pub. L. 105–276struck 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).
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 Amendment

Amendment by Pub. L. 103–233applicable 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 ofPub. L. 103–233, set out as a note under section 5301 of this title.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

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42 USCDescription of ChangeSession YearPublic LawStatutes at Large

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24 CFR - Housing and Urban Development

24 CFR Part 91 - CONSOLIDATED SUBMISSIONS FOR COMMUNITY PLANNING AND DEVELOPMENT PROGRAMS

24 CFR Part 92 - HOME INVESTMENT PARTNERSHIPS PROGRAM

 

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