very low-income
Defined in 1 dictionary — U.S. Code
United States Code
12 U.S.C. § 4502 — for purposes of this chapter (2 versions over time)
The term “very low-income” means—
(i) in the case of owner-occupied units, families having incomes not greater than 50 percent of the area median income; and
(ii) in the case of rental units, families having incomes not greater than 50 percent of the area median income, with adjustments for smaller and larger families, as determined by the Director.
12 U.S.C. § 4502 — for purposes of this chapter
For purposes of section 2 4568 and 4569 of this title, the term “very low-income” means—
(i) in the case of owner-occupied units, income in excess of 30 percent but not greater than 50 percent of the area median income; and
(ii) in the case of rental units, income in excess of 30 percent but not greater than 50 percent of the area median income, with adjustments for smaller and larger families, as determined by the Director.