Rental allowance definition
Rental allowance means an amount paid to a minister to rent or otherwise provide a home if such amount is designated as rental allowance pursuant to official action taken in advance of such payment by the employing church or other qualified organization. The designation of an amount as rental allowance should be evidenced in an employment contract, in minutes of or in a resolution by a church or other qualified organization or in its budget, or in any other official document of the church or organization. Rental allowance may be referred to as housing allowance or parsonage allowance.
Examples of Rental allowance in a sentence
Landlord agrees to provide to Tenant an additional free Base Rental allowance in the amount of $573,510.00 (the “Second Free Base Rental Allowance”) to be utilized by Tenant as a credit against Base Rental due and payable by Tenant under the Lease, as amended, from and after May 1, 2009 until the entire Second Free Base Rental Allowance is exhausted.