Kentucky Statutes 198A.740 – Definitions for KRS 198A.740 to 198A.750
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As used in KRS § 198A.740 to KRS § 198A.750:
(1) “Moderate income” means the income of individuals or families that is below one hundred twenty percent (120%) of the area median income for the Commonwealth as determined by the United States Department of Housing and Urban Development;
(2) “Nonprofit organization” has the same meaning as in KRS § 198A.700; (3) “Technical assistance” has the same meaning as in KRS § 198A.700; and
(4) “Trust fund” means the rural housing trust fund created in KRS § 198A.744.
Effective: March 24, 2023
History: Created 2023 Ky. Acts ch. 92, sec. 29, effective March 24, 2023.
(1) “Moderate income” means the income of individuals or families that is below one hundred twenty percent (120%) of the area median income for the Commonwealth as determined by the United States Department of Housing and Urban Development;
Terms Used In Kentucky Statutes 198A.740
- Area median income: means the greater of the statewide median family income or the median family income for the area in which the residence is located, as calculated each year by the federal Department of Housing and Urban Development for use in determining eligibility for housing programs. See Kentucky Statutes 198A.010
- Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 198A.010
(2) “Nonprofit organization” has the same meaning as in KRS § 198A.700; (3) “Technical assistance” has the same meaning as in KRS § 198A.700; and
(4) “Trust fund” means the rural housing trust fund created in KRS § 198A.744.
Effective: March 24, 2023
History: Created 2023 Ky. Acts ch. 92, sec. 29, effective March 24, 2023.