Terms Used In Connecticut General Statutes > Chapter 137e - Housing Trust Fund Program

• affordable housing: means housing for which persons and families pay thirty per cent or less of their annual income, where such income is less than or equal to the area median income for the municipality in which such housing is located, as determined by the United States Department of Housing and Urban Development. See Connecticut General Statutes 8-39a
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means the Connecticut Housing Finance Authority. See Connecticut General Statutes 8-336m
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• banks: shall include all incorporated banks. See Connecticut General Statutes 1-1
• Commissioner: means the Commissioner of Housing. See Connecticut General Statutes 8-336m
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Department: means the Department of Housing. See Connecticut General Statutes 8-336m
• development: means a work or undertaking having as its primary purpose the provision of safe, well-designed and adequate housing and related facilities for low and moderate income families and persons and includes existing housing for low and moderate income families and persons and housing whose primary purpose is to provide dwelling accommodations for low and moderate income families and persons but has dwelling accommodations for others. See Connecticut General Statutes 8-336m
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• fund: means the Housing Trust Fund created under section 8-336o. See Connecticut General Statutes 8-336m
• legislative body: means : (1) As applied to unconsolidated towns, the town meeting. See Connecticut General Statutes 1-1
• Lien: A claim against real or personal property in satisfaction of a debt.
• Low and moderate income families and persons: means families and persons whose income falls within the income levels set by the commissioner pursuant to regulations adopted under subsection (a) of section 8-336q, except that the commissioner may establish income levels up to and including one hundred twenty per cent of the area median income, as determined by the United States Department of Housing and Urban Development. See Connecticut General Statutes 8-336m
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Municipal developer: means a municipality acting by and through its legislative body, except that in any town in which a town meeting or representative town meeting is the legislative body, "municipal developer" means the board of selectmen if such board is authorized to act as the municipal developer by the town meeting or representative town meeting. See Connecticut General Statutes 8-336m
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• program: means the Housing Trust Fund program developed and administered under section 8-336p. See Connecticut General Statutes 8-336m
• Secretary: means the Secretary of the Office of Policy and Management. See Connecticut General Statutes 8-336m
• State Bond Commission: means the commission established under section 3-20. See Connecticut General Statutes 8-336m
• succeeding: when used by way of reference to any section or sections, mean the section or sections next preceding, next following or next succeeding, unless some other section is expressly designated in such reference. See Connecticut General Statutes 1-1
• Treasurer: means the State Treasurer and includes each successor in office or authority. See Connecticut General Statutes 8-336m