D.C. Mun. Regs. tit. 10, r. 10-B3499

Current through Register Vol. 71, No. 44, November 1, 2024
Rule 10-B3499 - DEFINITIONS

3499 When used in this chapter, the following words and phrases shall have the meaning ascribed:

Act - the Tax Reform Act of 1986 ( Public Law 99-514).

Area median income - the median income for the Washington Metropolitan Statistical Area as determined by HUD for the Section 8 Program.

Department - the District of Columbia Department of Housing and Community Development.

Director - the Director of the District of Columbia Department of Housing and Community Development.

Low income units - units set-aside for households meeting the income and other requirements of the Act.

Multi-family housing - a rental housing accommodation containing five (5) or more dwelling units.

Non-profit developer applicants - an organization eligible under § 501(c)(3) or (4) of the Internal Revenue Code, one of whose purposes includes the fostering of low income housing.

Placed in service - the date a Certificate of Occupancy is issued for an eligible property.

Tax credit - the credit which may be claimed on a federal income tax return for investment in low income housing, pursuant to § 252 of the Tax Reform Act of 1986.

D.C. Mun. Regs. tit. 10, r. 10-B3499

Final Rulemaking published at 34 DCR 7308, 7313 (November 13, 1987); as amended by Emergency Rulemaking published at 51 DCR 7652 (August 6, 2004)[EXPIRE]