Ind. Code § 6-3.1-40.9-1

Current through P.L. 171-2024

Section 6-3.1-40.9-1 - "Affordable housing organization"

As used in this chapter, "affordable housing organization" refers to an organization that:

(1) is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code; and

(2) uses volunteers to build, renovate, and develop homeownership units for individuals whose income is at least thirty percent (30%) and not more than eighty percent (80%) of the area median income.

IC 6-3.1-40.9-1

Added by P.L. 201-2023,SEC. 104, eff. 1/1/2024.