Indiana § 5-20-5-17 Allocation for nonprofit corporation, public housing authority, or unit
of government

Indiana Statutes

§ 5-20-5-17 — Allocation for nonprofit corporation, public housing authority, or unit of government

Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 20 HOUSING·Ch. 5 Indiana Affordable Housing Fund

An eligible entity must allocate at least fifty
percent (50%) of the money received in program grants to a nonprofit
corporation (as defined under Section 501(c) of the Internal Revenue
Code), to a public housing authority (as defined in IC 36-7-18) or to a
unit of government (as defined in IC 36-1-2-23). Money received in
program grants that is not allocated to a nonprofit corporation, a public
housing authority, or a unit of government may be allocated to private
developers of housing and other private development entities as
determined by the eligible entity.

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An eligible entity must allocate at least fifty
percent (50%) of the money received in program grants to a nonprofit
corporation (as defined under Section 501(c) of the Internal Revenue
Code), to a public housing authority (as defined in IC 36-7-18) or to a
unit of government (as defined in IC 36-1-2-23). Money received in
program grants that is not allocated to a nonprofit corporation, a public
housing authority, or a unit of government may be allocated to private
developers of housing and other private development entities as
determined by the eligible entity.

Indiana § 5-20-5-17 (Allocation for nonprofit corporation, public housing authority, or unit of government) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.