remaining useful life
Defined in 2 places of the United States Code.
For purposes of this title,1 the term “remaining useful life” means, with respect to eligible low-income housing, the period during which the physical characteristics of the housing remain in a condition suitable for occupancy, assuming normal maintenance and repairs are made and major systems and capital components are replaced as becomes necessary.
Source
- 2013–present12 U.S.C. § 4112Banks and Banking · Criteria for approval of plan of action involving incentives · for purposes of this title
For purposes of this title,3 the term “remaining useful life” means, with respect to eligible low-income housing, the period during which the physical characteristics of the housing remain in a condition suitable for occupancy, assuming normal maintenance and repairs are made and major systems and capital components are replaced as becomes necessary.
Source
- 1996–201312 U.S.C. § 4112Banks and Banking · Criteria for approval of plan of action involving incentives · for purposes of this title
For purposes of this title,4 the term “remaining useful life” means, with respect to eligible low-income housing, the period during which the physical characteristics of the housing remain in a condition suitable for occupancy, assuming normal maintenance and repairs are made and major systems and capital components are replaced as becomes necessary.
Source
- 1994–199612 U.S.C. § 4112Banks and Banking · Criteria for approval of plan of action involving incentives · for purposes of this title
The Secretary may establish such additional conditions on loans provided under this section as the Secretary determines to be appropriate. The Secretary may require owners receiving assistance for capital improvements under this section to retain the housing as housing affordable for very low-income families or persons, low-income families or persons and moderate-income families or persons for the remaining useful life of the housing. For purposes of this section, the term “remaining useful life” means, with respect to housing assisted under this section, the period during which the physical characteristics of the housing remain in a condition suitable for occupancy, assuming normal maintenance and repairs are made and major systems and capital components are replaced as becomes necessary.
Source
- 1994–present12 U.S.C. § 1715ZBanks and Banking · Assistance for troubled multifamily housing projects · under this section