Florida Regulations 67-21.001: Purpose and Intent
Current as of: 2024 | Check for updates
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The purpose of this rule chapter is to establish the procedures by which the Corporation shall:
(1) Administer the Application process, determine loan amounts and make and service mortgage loans for new construction or rehabilitation of affordable rental units under the Multifamily Mortgage Revenue Bonds (MMRB) Program authorized by Florida Statutes § 420.509; and,
(2) Administer the Application process, determine Non-Competitive Housing Credit amounts, and implement the provisions of the Housing Credit (HC) Program authorized by Section 42 of the IRC and Florida Statutes § 420.5099
(3) This rule chapter shall be reviewed, and if necessary, repealed or renewed through the rulemaking process no later than five years from the effective date.
Rulemaking Authority 420.507, 420.508 FS. Law Implemented 420.509, 420.5099 FS. History-New 7-16-13, Repromulgated 2-2-15, 9-15-16, 5-24-17, 7-8-18, 7-11-19, Amended 6-23-20, Repromulgated 5-18-21, 7-6-22, 6-28-23.
Terms Used In Florida Regulations 67-21.001
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(2) Administer the Application process, determine Non-Competitive Housing Credit amounts, and implement the provisions of the Housing Credit (HC) Program authorized by Section 42 of the IRC and Florida Statutes § 420.5099
(3) This rule chapter shall be reviewed, and if necessary, repealed or renewed through the rulemaking process no later than five years from the effective date.
Rulemaking Authority 420.507, 420.508 FS. Law Implemented 420.509, 420.5099 FS. History-New 7-16-13, Repromulgated 2-2-15, 9-15-16, 5-24-17, 7-8-18, 7-11-19, Amended 6-23-20, Repromulgated 5-18-21, 7-6-22, 6-28-23.