Indiana Statutes
§ 5-20-4-11 — Allocation of fund resources
Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 20 HOUSING·Ch. 4 Affordable Housing and Community Development Fund
(a)At least fifty percent (50%) of the
resources of the fund shall be allocated to recognized nonprofit
corporations under Section 501(c) of the Internal Revenue Code.
(b)The resources of the fund that are not allocated under subsection
(a)may be allocated to private developers of housing and private
development entities as determined by the authority.
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Legislative History
As added by P.L.69-1989, SEC.4. Amended by P.L.179-1991,
SEC.9; P.L.1-1992, SEC.13; P.L.27-1993, SEC.21; P.L.1-2006,
SEC.117; P.L.181-2006, SEC.35; P.L.1-2007, SEC.35.
Nearby Sections
15
§ 5-1-1-1
Validation§ 5-1-1-2
Repealed§ 5-1-10-1
Issuance; purpose; restrictions§ 5-1-11-7
Restrictions on powers§ 5-1-11.5-1
"ADM"§ 5-1-11.5-2
"Bonds"§ 5-1-11.5-3
Application to certain school corporations§ 5-1-12-1
"Municipal corporation" defined