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- Title 25. Indians
- Chapter 43. Native American Housing Assistance and Self-Determination
- Subchapter VIII. Housing Assistance For Native Hawaiians
25 U.S.C. § 4232 Low-Income Requirement and Income Targeting
Library | United States Statutes |
Edition | 2023 Edition |
Currency | Current through P.L. 118-19 (published on www.congress.gov on 10/06/2023) |
(a) In general
Housing shall qualify for affordable housing for purposes of this subchapter only if-
(1) each dwelling unit in the housing-
(A) in the case of rental housing, is made available for occupancy only by a family that is a low-income family at the time of the initial occupancy of that family of that unit; and
(B) in the case of housing for homeownership, is made available for purchase only by a family that is a low-income family at the time of purchase; and
(2) each dwelling unit in the housing will remain affordable, according to binding commitments satisfactory to the Secretary, for-
(A) the remaining useful life of the property (as determined by the Secretary) without regard to the term of the mortgage or to transfer of ownership; or
(B) such other period as the Secretary determines is the longest feasible period of time consistent with sound economics and the purposes of this subchapter, except upon a foreclosure by a lender (or upon other transfer in lieu of foreclosure) if that action-
(i) recognizes any contractual or legal rights of any public agency, nonprofit sponsor, or other person or entity to take an action that would-
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