Income limit definition

Income limit means the limit against which budgetable income is compared to determine financial eligibility.

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Income limit means one hundred twenty percent (120%) of Median.

Income limit means, collectively, the Low and Moderate Income Limit, Housing Income Limit and the Deep Subsidy Income Limit;

Examples of Income limit in a sentence

• The Total Housing Expense for the *** Units will be limited to one-twelfth (1/12th) of thirty percent (30%)[if other units are at 50% of median income] the MTSP Limits Very Low Income limit, adjusted for family size [if the limit is other than 50%] ***% of area median gross income based upon the MTSP Limits, adjusted for family size.

• If the agency fails to enter into a ratified sales contract, the property shall be listed as a rental property and rented within 9 months from the date of receiving a certificate of occupancy to a household at 60% or below the most current HUD Area Median Income limit for the City of Columbia.

• Income limit – Applicants prior year income must be 300% of the Federal Poverty Guideline.

• Income limit for the Acquired Brain Injury Program is within 300% of the Federal Poverty Guideline.

• The Recipient shall comply with this section in respect of the Mixed-Income Housing Project Rental Bands: Rental Band Required Number of Housing Units Rental Range Eligible Tenant Near Market and Market Rent X Greater than (>) 90% of (MMR) No Gross Income limit No asset value limit Minimum Rent X 60% of MMR Gross Income not exceeding the HILS AND Targeted towards the lowest income applicants first.

• HUD’s regulation uses the Very Low Income limit as the basis for the 120 percent income limit by multiplying the published Very Low Income limit by a factor of 2.4.

• Low HOME Rent is rent that is 30% of annual income for households at the Very Low- Income limit for San Mateo County, adjusted for family size, minus tenant paid utilities.

• The Total Housing Expense for *** Section 1602 Restricted Units will be limited to one-twelfth (1/12th) of thirty percent (30%)[if other units are at 50% of median income] the MTSP Limits Very Low Income limit, adjusted for family size.

• Low HOME Rent is rent that is 30% of annual income for households at the Very Low Income limit for San Mateo County, adjusted for family size, minus tenant paid utilities.

More Definitions of Income limit

Income limit means one hundred twenty percent (120%) of Median, except as otherwise provided in Section 24.

Income limit means (i) one hundred sixty-five percent (165%) of Median with respect to any purchaser of the Shares allocated to such Scheduled Apartment, and (ii) one hundred twenty percent (120%) of Median with respect to any Tenant or Subtenant of such Scheduled Apartment.

Income limit means the annualized gross income limit established by the corporation based on the limits imposed by section 143(f) of the Internal Revenue Code of 1986, as amended.

Income limit means the maximum gross household income for purposes of determining a household’s eligibility for an affordable housing unit.