Ill. Admin. Code tit. 47, § 355.308 - Limitation on Donations
Funds used by a prospective Donor to acquire an ownership interest in an Affordable Housing Project shall not qualify as a Donation. Donations may not take place prior to 3 years before the Initial Closing Date unless otherwise approved by the allocating Agency in the Agency's discretion.
Notes
Amended at 34 Ill. Reg. 15822, effective September 28, 2010
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