(a) In general.- In this title the following words have the meanings indicated.
Revisor's Note.
This subsection is new language added as the standard introductory language to a definition section.
(b) Administration.- "Administration" means the Community Development Administration.
Revisor's Note.
This subsection is new language derived without substantive change from former Art. 83B, §§ 2-203(b) and 2-801(b).
The former phrase "of the Department of Housing and Community Development" is deleted as unnecessary in light of § 2-202 of this article.
(c) Division.- "Division" means the Division of Development Finance.
Revisor's Note.
This subsection is new language added to provide a concise reference to the Division of Development Finance.
(d) Elderly household.- "Elderly household" means one or more individuals who occupy a residential dwelling unit, at least one of whom meets the age limit specified by the Secretary that:
(1) is greater than or equal to age 55; and
(2) may vary for different programs or types of projects.
Special Revisor's Note.
Chapter 118, Acts of 2006, added this subsection.
(e) Elderly rental housing project.- "Elderly rental housing project" means a project that meets the qualifications in § 4-407 of this title.
Special Revisor's Note.
As enacted by Ch. 26, Acts of 2005, this subsection was new language derived without substantive change from the introductory language of former Art. 83B, § 2-801(e), as it defined "elderly rental housing project". However, Chapter 118, Acts of 2006, renumbered this subsection.
As for the balance of former Art. 83B, § 2-801(e), see § 4-407 of this title.
The former alternative defined term "project" was deleted to avoid confusion.
(f) Nonprofit sponsor.- "Nonprofit sponsor" means a sponsor that is:
(1) a nonprofit organization; or
(2) a limited partnership, if:
(i) 1. each general partner is a nonprofit organization; or
2. each general partner is a wholly owned subsidiary of a nonprofit organization;
(ii) the limited partnership is formed to undertake a project that is eligible as a whole or in part for a federal program or incentive, including low-income housing tax credits; and
(iii) a nonprofit organization manages the project or will receive the net cash flow or residual sale proceeds on the sale of the project.
Special Revisor's Note.
As enacted by Ch. 26, Acts of 2005, this subsection was new language derived without substantive change from former Art. 83B, §§ 2-501(l) and 2-801(g). However, Chapter 118, Acts of 2006, renumbered this subsection.
The Housing and Community Development Article Review Committee notes, for consideration by the General Assembly, that in item (2)(i)2 of this subsection, the reference to "each general partner" was substituted for the former references to a "limited partnership" to avoid the erroneous implication that a limited partnership may be a wholly owned subsidiary. Defined Terms.
(a) In general.- In this title the following words have the meanings indicated.
Revisor's Note.
This subsection is new language added as the standard introductory language to a definition section.
(b) Administration.- "Administration" means the Community Development Administration.
Revisor's Note.
This subsection is new language derived without substantive change from former Art. 83B, §§ 2-203(b) and 2-801(b).
The former phrase "of the Department of Housing and Community Development" is deleted as unnecessary in light of § 2-202 of this article.
(c) Division.- "Division" means the Division of Development Finance.
Revisor's Note.
This subsection is new language added to provide a concise reference to the Division of Development Finance.
(d) Elderly household.- "Elderly household" means one or more individuals who occupy a residential dwelling unit, at least one of whom meets the age limit specified by the Secretary that:
(1) is greater than or equal to age 55; and
(2) may vary for different programs or types of projects.
Special Revisor's Note.
Chapter 118, Acts of 2006, added this subsection.
(e) Elderly rental housing project.- "Elderly rental housing project" means a project that meets the qualifications in § 4-407 of this title.
Special Revisor's Note.
As enacted by Ch. 26, Acts of 2005, this subsection was new language derived without substantive change from the introductory language of former Art. 83B, § 2-801(e), as it defined "elderly rental housing project". However, Chapter 118, Acts of 2006, renumbered this subsection.
As for the balance of former Art. 83B, § 2-801(e), see § 4-407 of this title.
The former alternative defined term "project" was deleted to avoid confusion.
(f) Nonprofit sponsor.- "Nonprofit sponsor" means a sponsor that is:
(1) a nonprofit organization; or
(2) a limited partnership, if:
(i) 1. each general partner is a nonprofit organization; or
2. each general partner is a wholly owned subsidiary of a nonprofit organization;
(ii) the limited partnership is formed to undertake a project that is eligible as a whole or in part for a federal program or incentive, including low-income housing tax credits; and
(iii) a nonprofit organization manages the project or will receive the net cash flow or residual sale proceeds on the sale of the project.
Special Revisor's Note.
As enacted by Ch. 26, Acts of 2005, this subsection was new language derived without substantive change from former Art. 83B, §§ 2-501(l) and 2-801(g). However, Chapter 118, Acts of 2006, renumbered this subsection.
The Housing and Community Development Article Review Committee notes, for consideration by the General Assembly, that in item (2)(i)2 of this subsection, the reference to "each general partner" was substituted for the former references to a "limited partnership" to avoid the erroneous implication that a limited partnership may be a wholly owned subsidiary. Defined Terms.
(a) In general.- In this title the following words have the meanings indicated.
Revisor's Note.
This subsection is new language added as the standard introductory language to a definition section.
(b) Administration.- "Administration" means the Community Development Administration.
Revisor's Note.
This subsection is new language derived without substantive change from former Art. 83B, §§ 2-203(b) and 2-801(b).
The former phrase "of the Department of Housing and Community Development" is deleted as unnecessary in light of § 2-202 of this article.
(c) Division.- "Division" means the Division of Development Finance.
Revisor's Note.
This subsection is new language added to provide a concise reference to the Division of Development Finance.
(d) Elderly household.- "Elderly household" means one or more individuals who occupy a residential dwelling unit, at least one of whom meets the age limit specified by the Secretary that:
(1) is greater than or equal to age 55; and
(2) may vary for different programs or types of projects.
Special Revisor's Note.
Chapter 118, Acts of 2006, added this subsection.
(e) Elderly rental housing project.- "Elderly rental housing project" means a project that meets the qualifications in § 4-407 of this title.
Special Revisor's Note.
As enacted by Ch. 26, Acts of 2005, this subsection was new language derived without substantive change from the introductory language of former Art. 83B, § 2-801(e), as it defined "elderly rental housing project". However, Chapter 118, Acts of 2006, renumbered this subsection.
As for the balance of former Art. 83B, § 2-801(e), see § 4-407 of this title.
The former alternative defined term "project" was deleted to avoid confusion.
(f) Nonprofit sponsor.- "Nonprofit sponsor" means a sponsor that is:
(1) a nonprofit organization; or
(2) a limited partnership, if:
(i) 1. each general partner is a nonprofit organization; or
2. each general partner is a wholly owned subsidiary of a nonprofit organization;
(ii) the limited partnership is formed to undertake a project that is eligible as a whole or in part for a federal program or incentive, including low-income housing tax credits; and
(iii) a nonprofit organization manages the project or will receive the net cash flow or residual sale proceeds on the sale of the project.
Special Revisor's Note.
As enacted by Ch. 26, Acts of 2005, this subsection was new language derived without substantive change from former Art. 83B, §§ 2-501(l) and 2-801(g). However, Chapter 118, Acts of 2006, renumbered this subsection.
The Housing and Community Development Article Review Committee notes, for consideration by the General Assembly, that in item (2)(i)2 of this subsection, the reference to "each general partner" was substituted for the former references to a "limited partnership" to avoid the erroneous implication that a limited partnership may be a wholly owned subsidiary. Defined Terms.
