§ 6-1061.04. Authority to transfer moneys from the Housing Production Trust Fund and the industrial revenue bond special account.

Current through October 23, 2012

(a) The Mayor may make a one-time transfer of $4 million from the Housing Production Trust Fund to such accounts or sub-accounts as may be established pursuant to the trust agreement to be entered into pursuant to 6-1061.02(e).

(b)(1) The Mayor may make a one-time transfer of $1 million from the industrial revenue bond special account established under § 47-131(c)(4) to such accounts or sub-accounts as may be established pursuant to the trust agreement to be entered into pursuant to 6-1061.02(e). The funds transferred pursuant to this subsection may be used to assist eligible households whose annual incomes do not exceed 120% of the area median income.

(2) For the purposes of this subsection, the terms "area median income" and "eligible households" shall have the same meanings as provided in § 42-2801.

                
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(Mar. 14, 2007, D.C. Law 16-278, § 104, as added Dec. 24, 2008, D.C. Law 17-285, § 2(b), 55 DCR 11986.)

HISTORICAL AND STATUTORY NOTES

Legislative History of Laws

For Law 17-285, see notes following § 6-1061.02.