(a) The Mayor may make a one-time transfer of $4 million from the Housing Production Trust Fund to such accounts or sub-accounts as may be established pursuant to the trust agreement to be entered into pursuant to 6-1061.02(e).
(b)(1) The Mayor may make a one-time transfer of $1 million from the industrial revenue bond special account established under § 47-131(c)(4) to such accounts or sub-accounts as may be established pursuant to the trust agreement to be entered into pursuant to 6-1061.02(e). The funds transferred pursuant to this subsection may be used to assist eligible households whose annual incomes do not exceed 120% of the area median income.
(2) For the purposes of this subsection, the terms “area median income” and “eligible households” shall have the same meanings as provided in § 42-2801.
CREDIT(S)
(Mar. 14, 2007, D.C. Law 16-278, § 104, as added Dec. 24, 2008, D.C. Law 17-285, § 2(b), 55 DCR 11986.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For Law 17-285, see notes following § 6-1061.02.