§ 15-5-1703 - Definitions.
15-5-1703. Definitions.
As used in this subchapter:
(1) "Advisory committee" means the Housing Trust Fund Advisory Committee created in 15-5-1706;
(2) "Authority" means the Arkansas Development Finance Authority;
(3) "Board" means the Board of Directors of the Arkansas Development Finance Authority;
(4) "Eligible activities" means activities eligible for funding by the Arkansas Housing Trust Fund, as set forth in this subchapter;
(5) "Eligible applicants" means persons or entities eligible to receive funds from the housing trust fund, as set forth in this subchapter;
(6) "Housing trust fund" means the Arkansas Housing Trust Fund created in 15-5-1704; and
(7) "Median household income" means state or area median household income, as defined and adjusted annually by the United States Department of Housing and Urban Development.