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RSA 204-C:56 · Definitions
204-C:56 Definitions. – As used in this subdivision:
Copy linkHousing whose combined rental and utility costs or combined mortgage loan debt services, property taxes and required insurance do not exceed 30 percent of the gross income of persons of low or moderate income, as the case may be.
Copy linkIn cases where there is no direct federal or state rental assistance being provided to the unit or the tenant who occupies it, a housing unit may be deemed affordable if the monthly rent does not exceed 1/12 of the tenant's pro rata share of the annual operating expenses, mortgage payments, and real estate taxes for the project; provided that:
Copy linkIn no case shall depreciation of real or personal property be deemed an operating expense; and
Copy linkThe rent does not exceed the applicable fair market rent, as published from time to time by the United States Department of Housing and Urban Development pursuant to the section 8 existing housing or "housing voucher" programs, 42 U.S.C. section 1437f.
Copy linkNotwithstanding any other provisions of this section, a unit which exceeds the fair market rent as defined in subparagraph I(b)(2) of this section may be deemed affordable by the housing finance authority if the authority makes the following specific findings:
Copy linkAssistance from the fund is necessary to prevent the displacement of low or moderate income tenants from a project in which the majority of tenants are of low or moderate income; and
Copy linkThe applicant has made all reasonable efforts to obtain rental assistance for low or moderate income tenants who will be forced to pay more than 30 percent of their income for rent; and
Copy linkThe rents proposed by the applicant are as low as the applicant can possibly charge without endangering the financial and physical integrity of the project.
Copy linkNonprofit corporations which have obtained or are in the process of obtaining tax exempt status pursuant to section 501(c)(3) of the United States Internal Revenue Code. The authority shall not enter into any final grant or loan contract with a nonprofit corporation until the corporation's tax exempt status has been obtained.
Copy linkConsumer cooperatives created pursuant to RSA 301-A which limit the equity value of cooperative shares.
Copy linkLimited partnerships, if the general partner is a nonprofit corporation which has obtained or is in the process of obtaining tax exempt status pursuant to section 501(c)(3) of the United States Internal Revenue Code.
Copy linkFor-profit partnerships, corporations, proprietorships, or joint venture enterprises and all other business organizations.
Copy link"Person of low income" means any single individual or any family whose gross income is greater than 50 percent and less than or equal to 60 percent of the median income of, respectively, all single persons or all families, adjusted for number of members, residing in the applicable geographical area of the state.
Copy link"Person of moderate income" means any single individual or any family whose gross income is greater than 60 percent and less than or equal to 80 percent of the median income of, respectively, all single persons or all families, adjusted for the number of members, residing in the applicable geographical area of the state.
Copy link"Person of very low income" means any single individual or any family whose gross income is less than or equal to 50 percent of the median income of, respectively, all single persons or all families, adjusted for the number of members, residing in the applicable geographical area of the state. Source. 1988, 240:5, eff. July 1, 1988. 2021, 81:3, eff. Apr. 1, 2022.
Copy linkSource note
Source. 1988, 240:5, eff. July 1, 1988. 2021, 81:3, eff. Apr. 1, 2022.
Source history
- 1988, 240:5, eff. July 1, 1988
- 2021, 81:3, eff. Apr. 1, 2022
Related materials
Bill relationships
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2026 HB1405
amend
arantee program. Be it Enacted by the Senate and House of Representatives in General Court convened: 1 New Subdivision; Affordable Housing Guaranteed Loan Program. Amend RSA 204-C by inserting after section 92 the following new subdivision: Affordable Housing Guaranteed Loan Program 204-C:93 Definitions. In this subdivision: I. "Affordable housing" means: (a) Housing whose combined re
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2026 HB1405-FN
amend
arantee program. Be it Enacted by the Senate and House of Representatives in General Court convened: 1 New Subdivision; Affordable Housing Guaranteed Loan Program. Amend RSA 204-C by inserting after section 92 the following new subdivision: Affordable Housing Guaranteed Loan Program 204-C:93 Definitions. In this subdivision: I. "Affordable housing" means: (a) Housing whose combined re
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2026 HB1661
amend · effective 2028-07-01
Enacted by the Senate and House of Representatives in General Court convened: 1 New Section; Housing Finance Authority; Affordable Housing Fund; Annual Appropriation. Amend RSA 204-C by inserting after section 57-a the following new section: 204-C:57-b Annual Appropriation. There is hereby appropriated annually the sum of $1,500,000 to the housing finance authority established in RSA 204-C, for
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2026 HB1661-FN
amend · effective 2028-07-01
Enacted by the Senate and House of Representatives in General Court convened: 1 New Section; Housing Finance Authority; Affordable Housing Fund; Annual Appropriation. Amend RSA 204-C by inserting after section 57-a the following new section: 204-C:57-b Annual Appropriation. There is hereby appropriated annually the sum of $1,500,000 to the housing finance authority established in RSA 204-C, for
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2026 HB1662
amend
ouse of Representatives in General Court convened: 1 New Section; Housing and Development; Housing Finance Authority; Low-Cost Financing for Developers and Homeowners. Amend RSA 204-C by inserting after section 92 the following new section: 204-C:93 Low-Cost Financing for Developers and Homeowners. Notwithstanding any provision of law to the contrary, the housing finance authority (HFA) shall of
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2026 HB1662-FN
amend
ouse of Representatives in General Court convened: 1 New Section; Housing and Development; Housing Finance Authority; Low-Cost Financing for Developers and Homeowners. Amend RSA 204-C by inserting after section 92 the following new section: 204-C:93 Low-Cost Financing for Developers and Homeowners. Notwithstanding any provision of law to the contrary, the housing finance authority (HFA) shall of
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2026 HB1713
amend · effective 2026-07-01
s. Amend RSA 204-D:1 to read as follows: 204-D:1 Definitions. As used in this chapter: I. "Authority" means the New Hampshire housing finance authority established under RSA 204-C. II. "Committee" means the long range capital planning and utilization committee established under RSA 17-M. III. “Eligible housing” means single-family housing, multi-family housing, manufactured housing parks or
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2026 HB604
amend · effective 2025-07-01
accessory dwelling units. Be it Enacted by the Senate and House of Representatives in General Court convened: 1 New Section; Loan Forgiveness Program Established. Amend RSA 204-C by inserting after section 70 the following new section: 204-C:64-a Loan Forgiveness Program. I. There is hereby established a conditional loan program to be administered by the New Hampshire housing finance authori
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2026 HB604-FN
amend
accessory dwelling units. Be it Enacted by the Senate and House of Representatives in General Court convened: 1 New Section; Loan Forgiveness Program Established. Amend RSA 204-C by inserting after section 70 the following new section: 204-C:64-a Loan Forgiveness Program. I. There is hereby established a conditional loan program to be administered by the New Hampshire housing finance authori