Sec. 17. An eligible entity must allocate at least fifty percent (50%) of the money received in program grants to a nonprofit corporation (as defined under Section 501(c) of the Internal Revenue Code), to a public housing authority (as defined in IC 36-7-18) or to a unit of government (as defined in IC 36-1-2-23). Money received in program grants that is not allocated to a nonprofit corporation, a public housing authority, or a unit of government may be allocated to private developers of housing and other private development entities as determined by the eligible entity.
As added by P.L.115-2000, SEC.1.
Structure Indiana Code
Title 5. State and Local Administration
Chapter 5. Indiana Affordable Housing Fund
5-20-5-3. "Eligible Entity" Defined
5-20-5-6. "Lower Income Families" Defined
5-20-5-8. Authority May Provide Grants and Loans
5-20-5-16. Allocation for Very Low Income Households
5-20-5-17. Allocation for Nonprofit Corporation, Public Housing Authority, or Unit of Government