§ 4135. Low-income requirement and income targeting

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1996

   Native American Housing Assistance and Self-Determination Act of 1996

   Pub. L. 104–330 title II § 205 · 110 Stat. 4016

   Enacted · 25 U.S.C. § 4135

   Pub. L. 104–330, title II, § 205, Oct. 26, 1996, 110 Stat. 4033

   Source evidence

   Code source credit
   Pub. L. 104–330, title II, § 205, Oct. 26, 1996, 110 Stat. 4033

   Enacted provision · exact public law section
   SEC. 205. LOW-INCOME REQUIREMENT AND INCOME TARGETING. (a) In General.— Housing shall qualify as affordable housing for purposes of this Act 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 their initial occupancy of such 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) except for housing assisted under section 202 of the United States Housing Act of 1937 (as in effect before the date of the effectiveness of this Act), each dwelling unit in the housing will remain affordable, according to binding commitments satisfactory to the Secretary, for 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 for such other period that the Secretary determines is the longest feasible period of time consistent with sound economics and the purposes of this Act, except upon a foreclosure by a lender (or upon other transfer in lieu of foreclosure) if such action— (A) recognizes any contractual or legal rights of public agencies, nonprofit sponsors, or others to take actions that would avoid termination of low-income affordability in the case of foreclosure or transfer in lieu of foreclosure; and (B) is not for the purpose of avoiding low-income affordability restrictions, as determined by the Secretary. (b) Exception.— Notwithstanding subsection (a), housing assisted pursuant to section 201(b)(2) shall be considered affordable housing for purposes of this Act.

2. 1998

   Pub. L. 105–276 title V § 595(e)(8) · 112 Stat. 2461

   1. Added · 25 U.S.C. § 4135(a)(1)(B)(D)

      Pub. L. 105–276 added subpars. (B) to (D)

   2. Struck · 25 U.S.C. § 4135(a)(1)(B)(D)

      Pub. L. 105–276 struck out former subpar. (B) which read as follows: “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”

   Source evidence

   Code amendment note
   Subsec. (a)(1)(B) to (D). Pub. L. 105–276 added subpars. (B) to (D) and struck out former subpar. (B) which read as follows: “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”.

   Enacted provision · exact public law section
   (8) Eligibility.— Section 205(a)(1) of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4135(a)(1)) is amended— (A) in subparagraph (A), by striking “and” at the end; and (B) by striking subparagraph (B) and inserting the following: “(B) in the case of a contract to purchase existing housing, is made available for purchase only by a family that is a low-income family at the time of purchase; “(C) in the case of a lease-purchase agreement for existing housing or for housing to be constructed, is made available for lease-purchase only by a family that is a low-income family at the time the agreement is entered into; and “(D) in the case of a contract to purchase housing to be constructed, is made available for purchase only by a family that is a low-income family at the time the contract is entered into; and”.

3. 2008

   Native American Housing Assistance and Self-Determination Reauthorization Act of 2008

   Pub. L. 110–411 title II § 204 · 122 Stat. 4319

   Added · 25 U.S.C. § 4135(c)

   Pub. L. 110–411 added subsec. (c)

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 110–411 added subsec. (c).

   Enacted provision · exact public law section
   SEC. 204. LOW-INCOME REQUIREMENT AND INCOME TARGETING.   Section 205 of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4135) is amended by adding at the end the following: “(c) Applicability.— The provisions of paragraph (2) of subsection (a) regarding binding commitments for the remaining useful life of property shall not apply to a family or household member who subsequently takes ownership of a homeownership unit.” .

4 of 4 references resolved to an enrolled provision