The rules within this subchapter shall apply to all housing
projects. In the event the housing project is assisted, directly or indirectly,
by HUD or is financed by a loan from the Agency that is insured or guaranteed
by the United States, or any agency thereof, the Agency may utilize the rent
regulations, requirements, or criteria for such project prescribed, utilized,
or required by HUD or such guarantor or insurer. In the event there are any
inconsistencies between these rules and the regulations, requirements, or
criteria of HUD or other United States agency insuring or guaranteeing the
Agency loan, the latter shall prevail. If a housing project contains units that
are rent-restricted pursuant to
26 U.S.C. §
42(g), rents with respect to
such units are subject to, and may not under any circumstance exceed, any
limitations imposed pursuant to the Internal Revenue Code, as well as any
limitations imposed pursuant to this subchapter.
Notes
N.J. Admin.
Code §
5:80-9.2
Amended by
51
N.J.R. 409(b), effective 3/18/2019
