District of Columbia § 47-4801 Definitions.

District of Columbia Statutes

§ 47-4801 — Definitions.

District of Columbia·Title 47 Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]·Ch. 48 District of Columbia Low-Income Housing Tax Credit

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. (1A) "Commissioner" means the Commissioner of the Department of Insurance, Securities, and Banking.

(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 acquisition, rehabilitation, or 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 § 4

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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.

(1A) "Commissioner" means the Commissioner of the Department of Insurance, Securities, and Banking.

(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 acquisition, rehabilitation, or 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.

(5A) "Eligible project" means a rental housing development in the District that includes:

(A) More than 5 housing units; and

(B) Units that will be affordable to tenants at an income level no greater than 80% of MFI.

(6) "Federal low-income housing tax credit" means a tax credit claimed pursuant to 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”).

(6A) "MFI" means the median family income for a household in the Washington Metropolitan Statistical Area as set forth in the periodic calculation provided by the United States Department of Housing and Urban Development ("HUD"), adjusted for family size, without regard to any adjustments made by HUD for the purposes of the programs it administers.

(7) [Repealed].

(8) "Qualified project" means a rental housing development in the District that receives an allocation of federal low-income housing tax credits under 26 U.S.C. § 42(h)(1) or (4) after October 1, 2021, and with respect to which an extended low-income housing commitment pursuant to 26 U.S.C. § 42(h)(6)(B), between the owner of the rental housing development and the Department is executed on or after October 1, 2021, and with respect to which the Department issues an eligibility statement on or before September 30, 2024.

(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.

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