Section 4972 - DefinitionsFor the purposes of this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [2023, c. 218, §3(RPR).]
1.Low-income rental housing. "Low-income rental housing" means rental housing with 5 or more residential units in which any of the units are: A. Subject to federal or state income eligibility restrictions; [2023, c. 218, §3(NEW).]B. Subject to rents that are controlled, regulated or assisted by a federal or state agency pursuant to a regulatory agreement, rental assistance agreement, restrictive covenant, mortgage or other documentation; or [2023, c. 218, §3(NEW).]C. The subject of financial assistance given under a federal or state program designed to provide affordable housing to low-income or moderate-income people. [2023, c. 218, §3(NEW).] [2023, c. 218, §3(NEW).]
2.Holder. "Holder" means either the Maine State Housing Authority or a municipal housing authority that holds the option to purchase a low-income rental housing project. [2023, c. 218, §3(NEW).]
Amended by 2023SP1, c. 218,§ 3, eff. 10/25/2023.1989, c. 48, §§12,31 (NEW) . 1993, c. 175, § 10 (AMD) .