Definitions
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
As used in this Part:
(a)Residential rental purposes shall mean all permitted uses on residential real property which has the same owner(s).
(b)Regulatory agreement shall mean any agreement, including but not limited to a contract or covenant, between the property owner(s) and the municipal, State or Federal government, or an instrumentality thereof, which requires the property owner(s) to rent at least 20 percent of the residential units to tenants who qualify in accordance with an income test.
(c)Income documentation shall mean the most recent financial statement, independent auditor's report and rent roll for the residential real property or, if the most recent financial statement does not reflect 12 months of occupancy, the most recent operating budget approved by the municipal, State, or Federal government, or instrumentality thereof, that is party to the regulatory agreement.