Housing trust funds
Compiled text through Sep 15, 2021
Register checked through Jul 29, 2026
No later Register activity identified in this check.
Dates and status
- Compiling agency
- Executive Department
- Text status
- Source receipt
- Compiled text through
- Sep 15, 2021
- Register checked through
- July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
- Activity status
- No later Register activity identified in this check.
- Source snapshot
- Jun 6, 2026
(a)Payments, grants or loans shall be used solely to pay for the actual and necessary cost to construct, rehabilitate or convert a project.
(b)No more than 50 percent of the total amount of funds originally appropriated in a single fiscal year to the corporation shall be allocated to projects within a single municipality.
(c)No more than one third of the total amount of funds originally appropriated in a single fiscal year to the corporation shall be allocated to:
(1)private developers for projects within a city with a population of one million or more; and
(2)private developers for projects outside cities with a population of one million or more.
(d)The term of any loan made hereunder shall not exceed 30 years.
(e)Payments, grants or loans hereunder shall not exceed a total of $55,000 per dwelling unit. The corporation may, in its discretion, provide a payment, loan or grant in excess of $55,000 but not in excess of $75,000. A payment grant or loan may also be made from the High Cost Areas Demonstration Account pursuant to section 1904.2(c) of this Title, subject to the $75,000 limit.