§ 5-20-1-4.5 — Housing for special needs populations; allocation of federal low income housing credits

Indiana § 5-20-1-4.5

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 20: HOUSING
• Ch. 1: Indiana Housing and Community Development Authority

Text

5. (a) As used in this section, "special needs
populations" includes the following:
(1) Persons with physical or developmental disabilities.
(2) Persons with mental impairments.
(3) Single parent households.
(4) Victims of domestic violence.
(5) Abused children.
(6) Persons with chemical addictions.
(7) Homeless persons.
(8) The elderly.
(b) As used in this section, "qualified building" means a building:
(1) that is used or will be used to provide residential housing for
special needs populations; and
(2) for which a taxpayer is eligible to claim a low income housing
credit under 26 U.S.C. 42.
(c) Subject to subsection (d), the authority shall allocate to qualified
buildings at least ten percent (10%) of the total dollar amount of federal
low income housing credits allocated to the authority under 26 U.S.C.
42. The authority shall allocate credits under this section based on the
proportionate amount of a qualified building that is used to provide
residential housing for special needs populations, as determined by the
authority.
(d) The authority shall hold available the allocation made under
subsection (c) for qualified buildings through October 31 of each
calendar year. Beginning November 1 of each calendar year, any part
of the allocation that remains unassigned shall be available for any
appropriate use under 26 U.S.C. 42.

Legislative History

As added by P.L.74-1989, SEC.1. Amended by P.L.2-1993, SEC.52; P.L.23-1993, SEC.17; P.L.272-1999, SEC.5; P.L.145-2008, SEC.4.