§ 90-6-143 — Definitions

90-6-143 . Definitions. As used in 90-6-141 through 90-6-149 , the following definitions apply:
(1) "Attainable workforce housing" means housing of a cost that an eligible household would spend no more than 30% of gross monthly income for a mortgage payment, property taxes, and insurance.
(2) "Community reinvestment organization" means the regional entity or entities established in 90-6-146 or a certified regional development corporation, a certified development corporation, a community housing development organization, an economic development association, or a community development financial institution.
(3) "Community reinvestment organization revolving account" or "CRO revolving account" means a restricted account established by each community reinvestment organization.
(4) "Eligible household" means a household earning between 60% and 140% of median household income for the county in which the person resides or the state, whichever is less.
(5) "Montana community reinvestment plan account" means the account in the state special revenue fund and any subaccounts established pursuant to 90-6-145 .
(6) "Program" means the Montana community reinvestment plan.

Legislative History

En. Sec. 3, Ch. 774, L. 2023.