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D.C. Code § 47-4801

Definitions

Feb. 26, 2015, D.C

For the purposes of this chapter, the term:

(1) “Administrative costs” means the costs of the Department to administer, manage, and monitor the Low-Income Housing Tax Credit Program, including personnel costs.

(2) “Department” means the Department of Housing and Community Development, or its successor agency.

(3) “Developer” means a person or entity that proposes to cause the construction of affordable housing using tax credits provided under the District of Columbia’s Low-Income Housing Tax Credit Program.

(4) “Director” means the Director of the Department.

(5) “District of Columbia low-income housing tax credit” means the tax credit established by § 47-4802 pursuant to the Low-Income Housing Tax Credit Program.

(6) “Low-Income Housing Tax Credit Program” means the program authorized by section 42 of the Internal Revenue Code of 1986, approved October 22, 1986 (100 Stat. 2085; 26 U.S.C. § 42) (“1986 Internal Revenue Code”).

(7) “Pilot period” means the initial year of the credit program established under this chapter.

(8) “Qualified project” means a rental housing development that receives an allocation of federal Low-Income Housing Tax Credits from the Department.

(9) “User fee” means a fee charged by the Department to a developer in connection with the District of Columbia's Low-Income Housing Tax Credit Program, including application, reservation, allocation, and monitoring fees.

Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.