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, whether incurred before or after April 8, 2005.
(2) “Department” means the Department of Housing and Community Development.
(3) “Developer” means a person or entity that proposes to cause the construction affordable housing using tax credits provided under the Low-Income Housing Tax Credit Program.
(4) “Fund” means the Low-Income Housing Tax Credit Fund established by § 42-2853.02.
(5) “Low-Income Housing Tax Credit Program” means the program authorized by section 42 of the Internal Revenue Code [26 U.S.C. § 42].
(6) “User fee” means a fee charged by the Department to a developer in connection with the Low-Income Housing Tax Credit Program, including application, reservation, allocation, and monitoring fees.
(Apr. 8, 2005, D.C. Law 15-299, § 2, 52 DCR 1502.)
Emergency LegislationFor temporary (90 day) fund provisions, see § 2 of Low-Income Housing Tax Credit Non-Reverting/Non Lapsing Proprietary Fund Emergency Act of 2004 (D.C. Act 15-511, August 2, 2004, 51 DCR 8969).
For temporary (90 day) fund provisions, see § 2 of Low-Income Housing Tax Credit Fund Congressional Review Emergency Act of 2004 (D.C. Act 15-730, January 19, 2005, 52 DCR 1958).
For temporary (90 day) fund provisions, see § 2 of Low-Income Housing Tax Credit Fund Congressional Review Emergency Amendment Act of 2005 (D.C. Act 16-39, February 17, 2005, 52 DCR 3037).
Temporary LegislationFor temporary (225 day) amendment of section, see § 2 of Low-Income Housing Tax Credit Fund Temporary Act of 2004 (D.C. Law 15-230, March 16, 2005, law notification 52 DCR 3556).
References in TextSection 42 of the Internal Revenue Code, referred to in par. (5), is classified to 26 U.S.C. § 42.