(a) For any rental housing development that receives assistance prior to January 1, 1991, and a condition of that assistance is compliance with this section, âaffordable rentâ with respect to lower income households shall not exceed the percentage of the gross income of the occupant person or household established by regulation of the department that shall not be less than 15 percent of gross income nor exceed 25 percent of gross income. (b) (1) Except as provided in paragraph (2), for any rental housing development that receives assistance on or after January 1, 1991, and a condition of that assistance is compliance with this section, âaffordable rent,â including a reasonable utility allowance, shall not exceed: (A) (i) For acutely low income households, as defined in Section 50063.5, the product of 30 percent times 15 percent of the area median income adjusted for family size appropriate for the unit. (ii) This subparagraph shall apply to a lease entered into on or after January 1, 2022. (B) For extremely low income households, the product of 30 percent times 30 percent of the area median income adjusted for family size appropriate for the unit. (C) For very low income households, the product of 30 percent times 50 percent of the area median income adjusted for family size appropriate for the unit. (D) For lower income households whose gross incomes exceed the maximum income for very low income households, the product of 30 percent times 60 percent of the area median income adjusted for family size appropriate for the unit. In addition, for those lower income households with gross incomes that exceed 60 percent of the area median income adjusted for family size, it shall be optional for any state or local funding agency to require that affordable rent be established at a level not to exceed 30 percent of gross income of the household. (E) For moderate-income households, the product of 30 percent times 110 percent of the area median income adjusted for family size appropriate for the unit. In addition, for those moderate-income households whose gross incomes exceed 110 percent of the area median income adjusted for family size, it shall be optional for any state or local funding agency to require that affordable rent be established at a level not to exceed 30 percent of gross income of the household. (2) Notwithstanding paragraph (1), for a rental housing development described in paragraph (1) that dedicates at least 80 percent of units, exclusive of a managerâs unit or units, to lower income households, âaffordable rent,â including a reasonable utility allowance, shall not exceed an amount consistent with the maximum rent levels for lower income households, as those rents and incomes are determined by the California Tax Credit Allocation Committee, if the rental housing development receives an award on or after January 1, 2025, of any of the following: (A) Federal or state low-income housing tax credits. (B) Tax-exempt private activity bonds or general obligation bonds. (C) Local, state, or federal loans or grants that utilize rent and income limits determined by the California Tax Credit Allocation Committee. (c) The departmentâs regulation shall permit alternative percentages of income for agency-assisted rental and cooperative housing developments pursuant to regulations adopted under subdivision (f) of Section 50462. The department shall, by regulation, adopt criteria defining and providing for determination of gross income, adjustments for family size appropriate to the unit, and rent for purposes of this section. These regulations may provide alternative criteria, where necessary, to be consistent with pertinent federal statutes and regulations governing federally assisted rental and cooperative housing. The agency may, by regulation, adopt alternative criteria, and pursuant to subdivision (f) of Section 50462, alternative percentages of income may be adopted for agency-assisted housing developments. (d
‹ Prev All California sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.