P.R. Laws tit. 17, § 1021
In accordance with this chapter, the terms and phrases mentioned below shall have the following meaning:
(a) Low or moderate income families or individuals. — Means those who have income within the limits established by the Secretary of Housing through regulations in order to participate in the Program.
(b) Adjusted monthly income. — Means one-twelfth (1/12) of the total annual income of the person or family after deducting the credits provided in this chapter.
(c) New construction. — Means all housing whose construction commences after the Subsidy Program is approved.
(d) Existing houses. — Means all houses already constructed on the date of approval of this act, that the Department of Housing deems acceptable under the Program created by virtue of this chapter.
History —Dec. 10, 1993, No. 124, § 2.