|Subchapter I||General Provisions and Policies|
|Subchapter II||Investment in Affordable Housing|
|Subchapter III||National Homeownership Trust Demonstration|
|Subchapter IV||Hope for Homeownership of Multifamily and Single Family Homes|
Terms Used In U.S. Code > Title 42 > Chapter 130 - National Affordable Housing
- abroad: means all areas not included within the United States. See 22 USC 3902
- Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
- Alaska Railroad: means the agency of the United States Government that is operated by the Department of Transportation as a rail carrier in Alaska under authority of the Act of March 12, 1914 (43 U. See 45 USC 1202
- Alaska Railroad Revolving Fund: means the public enterprise fund maintained by the Department of the Treasury into which revenues of the Alaska Railroad and appropriations for the Alaska Railroad are deposited, and from which funds are expended for Alaska Railroad operation, maintenance and construction work authorized by law. See 45 USC 1202
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Appraisal: A determination of property value.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
- Balanced budget: A budget in which receipts equal outlays.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Bequest: Property gifted by will.
- certification: means a written assertion, based on supporting evidence, which shall be kept available for inspection by the Secretary, the Inspector General and the public, which assertion shall be deemed to be accurate for purposes of this Act, unless the Secretary determines otherwise after inspecting the evidence and providing due notice and opportunity for comment. See 42 USC 12704
- Chairman: means the Chairman of the National Advisory Council on International Monetary and Financial Policies. See 22 USC 262r
- claim of valid existing rights: means any claim to the rail properties of the Alaska Railroad on record in the Department of the Interior as of January 13, 1983. See 45 USC 1202
- Commissioner: means the Commissioner of Internal Revenue. See 26 USC 7701
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- community housing development organization: means a nonprofit organization as defined in paragraph (5), that--
(A) has among its purposes the provision of decent housing that is affordable to low-income and moderate-income persons. See 42 USC 12704
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- corporation: includes associations, joint-stock companies, and insurance companies. See 26 USC 7701
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- county: includes a parish, or any other equivalent subdivision of a State or Territory of the United States. See 1 USC 2
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- date of transfer: means the date on which the Secretary delivers to the State the four documents referred to in section 1203(b)(1) of this title. See 45 USC 1202
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Department: means the Department of State, except that with reference to the exercise of functions under this chapter with respect to another agency authorized by law to utilize the Foreign Service personnel system, such term means that other agency. See 22 USC 3902
- Dependent: A person dependent for support upon another.
- Devise: To gift property by will.
- displaced homemaker: means an individual who--
(A) is an adult. See 42 USC 12704
- domestic: when applied to a corporation or partnership means created or organized in the United States or under the law of the United States or of any State unless, in the case of a partnership, the Secretary provides otherwise by regulations. See 26 USC 7701
- Donee: The recipient of a gift.
- Donor: The person who makes a gift.
- employee: shall include a full-time life insurance salesman who is considered an employee for the purpose of chapter 21. See 26 USC 7701
- employees: means all permanent personnel employed by the Alaska Railroad on the date of transfer, including the officers of the Alaska Railroad, unless otherwise indicated in this chapter. See 45 USC 1202
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Ex officio: Literally, by virtue of one's office.
- exclusive-use easement: means an easement which affords to the easement holder the following:
(A) the exclusive right to use, possess, and enjoy the surface estate of the land subject to this easement for transportation, communication, and transmission purposes and for support functions associated with such purposes. See 45 USC 1202
- Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- federally owned or administered forest land: shall be construed to mean forest land in which, or in the natural resources of which, the United States has a legal or equitable interest of any character sufficient to entitle the United States to control the management or disposition of the timber or other forest products thereon, except land heretofore or hereafter reserved or withdrawn for purposes which are inconsistent with the exercise of the authority conferred by this subchapter. See 16 USC 583f
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- fiduciary: means a guardian, trustee, executor, administrator, receiver, conservator, or any person acting in any fiduciary capacity for any person. See 26 USC 7701
- Fiduciary: A trustee, executor, or administrator.
- first-time homebuyer: means an individual and his or her spouse who have not owned a home during the 3-year period prior to purchase of a home with assistance under subchapter II, except that--
(A) any individual who is a displaced homemaker may not be excluded from consideration as a first-time homebuyer under this paragraph on the basis that the individual, while a homemaker, owned a home with his or her spouse or resided in a home owned by the spouse. See 42 USC 12704
- fiscal year: means an accounting period of 12 months ending on the last day of any month other than December. See 26 USC 7701
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- foreign: when applied to a corporation or partnership means a corporation or partnership which is not domestic. See 26 USC 7701
- Foreign Service: means the Foreign Service of the United States. See 22 USC 3902
- forestry research: as used in this subchapter shall include investigations relating to: (1) Reforestation and management of land for the production of crops of timber and other related products of the forest. See 16 USC 582a-6
- Fraud: Intentional deception resulting in injury to another.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Government: means the Government of the United States. See 22 USC 3902
- Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
- housing: includes manufactured housing and manufactured housing lots and elder cottage housing opportunity units that are small, free-standing, barrier-free, energy-efficient, removable, and designed to be installed adjacent to existing 1- to 4-family dwellings. See 42 USC 12704
- including: when used in a definition contained in this title shall not be deemed to exclude other things otherwise within the meaning of the term defined. See 26 USC 7701
- Indian tribal government: means the governing body of any tribe, band, community, village, or group of Indians, or (if applicable) Alaska Natives, which is determined by the Secretary, after consultation with the Secretary of the Interior, to exercise governmental functions. See 26 USC 7701
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
- individual retirement plan: means --
(A) an individual retirement account described in section 408(a), and
(B) an individual retirement annuity described in section 408(b). See 26 USC 7701
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- international organization: means a public international organization entitled to enjoy privileges, exemptions, and immunities as an international organization under the International Organizations Immunities Act (22 U. See 26 USC 7701
- Joint resolution: A legislative measure which requires the approval of both chambers.
- jurisdiction: means a State or unit of general local government. See 42 USC 12704
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- low-income families: means families whose incomes do not exceed 80 percent of the median income for the area, as determined by the Secretary with adjustments for smaller and larger families, except that the Secretary may establish income ceilings higher or lower than 80 percent of the median for the area on the basis of the Secretary's findings that such variations are necessary because of prevailing levels of construction costs or fair market rents, or unusually high or low family incomes. See 42 USC 12704
- Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
- marriage: means only a legal union between one man and one woman as husband and wife, and the word "spouse" refers only to a person of the opposite sex who is a husband or a wife. See 1 USC 7
- Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- nonprofit organization: means any private, nonprofit organization (including a State or locally chartered, nonprofit organization) that--
(A) is organized under State or local laws,
(B) has no part of its net earnings inuring to the benefit of any member, founder, contributor, or individual,
(C) complies with standards of financial accountability acceptable to the Secretary, and
(D) has among its purposes significant activities related to the provision of decent housing that is affordable to low-income and moderate-income persons. See 42 USC 12704
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
- officers of the Alaska Railroad: means the employees occupying the following positions at the Alaska Railroad as of the day before the date of transfer: General Manager. See 45 USC 1202
- Oversight: Committee review of the activities of a Federal agency or program.
- participating jurisdiction: means any State or unit of general local government that has been so designated in accordance with section 12746 of this title. See 42 USC 12704
- partner: includes a member in such a syndicate, group, pool, joint venture, or organization. See 26 USC 7701
- partnership: includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation. See 26 USC 7701
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation. See 26 USC 7701
- Personal property: All property that is not real property.
- public housing agency: has the meaning given the term in section 1437a(b) of this title. See 42 USC 12704
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- qualified blood collector organization: means an organization which is--
(A) described in section 501(c)(3) and exempt from tax under section 501(a),
(B) primarily engaged in the activity of the collection of human blood,
(C) registered with the Secretary for purposes of excise tax exemptions, and
(D) registered by the Food and Drug Administration to collect blood. See 26 USC 7701
- Quorum: The number of legislators that must be present to do business.
- rail properties of the Alaska Railroad: means all right, title, and interest of the United States to lands, buildings, facilities, machinery, equipment, supplies, records, rolling stock, trade names, accounts receivable, goodwill, and other real and personal property, both tangible and intangible, in which there is an interest reserved, withdrawn, appropriated, owned, administered or otherwise held or validly claimed for the Alaska Railroad by the United States or any agency or instrumentality thereof as of January 14, 1983, but excluding any such properties disposed of, and including any such properties acquired, in the ordinary course of business after that date but before the date of transfer, and also including the exclusive-use easement within the Denali National Park and Preserve conveyed to the State pursuant to this chapter and also excluding the following:
(A) the unexercised reservation to the United States for future rights-of-way required in all patents for land taken up, entered, or located in Alaska, as provided by the Act of March 12, 1914 (43 U. See 45 USC 1202
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Recess: A temporary interruption of the legislative business.
- reimbursable construction costs: as used in this subchapter means that part of the costs of investigating, constructing, and operating and maintaining the project, which are allocated by the Secretary to irrigation, and which are met by expenditures of moneys therefor appropriated under the authority of section 590z-10(1) of this title, plus such amounts as the President, under section 590z(1) of this title, may determine to be reimbursable: Provided, That administrative expenses incurred in the District of Columbia in connection with the investigation construction, or operation and maintenance of a project shall not be included in the reimbursable construction costs nor shall they be charged to the water users in any way. See 16 USC 590z-2
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Remand: When an appellate court sends a case back to a lower court for further proceedings.
- right-of-way: means , except as used in section 1208 of this title--
(A) an area extending not less than one hundred feet on both sides of the center line of any main line or branch line of the Alaska Railroad. See 45 USC 1202
- Secretary: means the Secretary of the Treasury or his delegate. See 26 USC 7701
- Secretary: means the Secretary of State, except that (subject to section 3921 of this title) with reference to the exercise of functions under this Act with respect to any agency authorized by law to utilize the Foreign Service personnel system, such term means the head of that agency. See 22 USC 3902
- Secretary: means the Secretary of Housing and Urban Development, unless otherwise specified in this Act. See 42 USC 12704
- Secretary: means the Secretary of Health and Human Services. See 42 USC 201
- Secretary: means the Secretary of Transportation. See 45 USC 1202
- Secretary of the Treasury: means the Secretary of the Treasury, personally, and shall not include any delegate of his. See 26 USC 7701
- Service: means the Public Health Service. See 42 USC 201
- Service of process: The service of writs or summonses to the appropriate party.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- shareholder: includes a member in an association, joint-stock company, or insurance company. See 26 USC 7701
- single parent: means an individual who--
(A) is unmarried or legally separated from a spouse. See 42 USC 12704
- State: as used in this subchapter shall include Puerto Rico, the Virgin Islands, and Guam. See 16 USC 582a-7
- State: means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any agency or instrumentality thereof that is established pursuant to legislation and designated by the chief executive officer to act on behalf of the State with regard to the provisions of this Act. See 42 USC 12704
- State: shall be construed to include the District of Columbia, where such construction is necessary to carry out provisions of this title. See 26 USC 7701
- State: includes , in addition to the several States, only the District of Columbia, Guam, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the Virgin Islands, American Samoa, and the Trust Territory of the Pacific Islands. See 42 USC 201
- State: means the State of Alaska or the State-owned railroad, as the context requires. See 45 USC 1202
- State-owned railroad: means the authority, agency, corporation or other entity which the State of Alaska designates or contracts with to own, operate or manage the rail properties of the Alaska Railroad or, as the context requires, the railroad owned, operated, or managed by such authority, agency, corporation, or other entity. See 45 USC 1202
- Statute: A law passed by a legislature.
- stock: includes shares in an association, joint-stock company, or insurance company. See 26 USC 7701
- student: means any individual--
(i) who is temporarily present in the United States--
(I) under subparagraph (F) or (M) of section 101(15) of the Immigration and Nationality Act, or
(II) as a student under subparagraph (J) or (Q) of such section 101(15), and
(ii) who substantially complies with the requirements for being so present. See 26 USC 7701
- taxable year: means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the taxable income is computed under subtitle A. See 26 USC 7701
- taxpayer: means any person subject to any internal revenue tax. See 26 USC 7701
- TIN: means the identifying number assigned to a person under section 6109. See 26 USC 7701
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
- trade or business: includes the performance of the functions of a public office. See 26 USC 7701
- transaction: includes a series of transactions. See 26 USC 7701
- Trustee: A person or institution holding and administering property in trust.
- unit of general local government: means a city, town, township, county, parish, village, or other general purpose political subdivision of a State. See 42 USC 12704
- United States: when used in a geographic sense, means the several States and the District of Columbia. See 22 USC 3902
- United States: when used in a geographical sense includes only the States and the District of Columbia. See 26 USC 7701
- United States person: means --
(A) a citizen or resident of the United States,
(B) a domestic partnership,
(C) a domestic corporation,
(D) any estate (other than a foreign estate, within the meaning of paragraph (31)), and
(E) any trust if--
(i) a court within the United States is able to exercise primary supervision over the administration of the trust, and
(ii) one or more United States persons have the authority to control all substantial decisions of the trust. See 26 USC 7701
- vehicle: includes every description of carriage or other artificial contrivance used, or capable of being used, as a means of transportation on land. See 1 USC 4
- very low-income families: means low-income families whose incomes do not exceed 50 percent of the median family income for the area, as determined by the Secretary with adjustments for smaller and larger families, except that the Secretary may establish income ceilings higher or lower than 50 percent of the median for the area on the basis of the Secretary's findings that such variations are necessary because of prevailing levels of construction costs or fair market rents, or unusually high or low family incomes. See 42 USC 12704
- vessel: includes every description of watercraft or other artificial contrivance used, or capable of being used, as a means of transportation on water. See 1 USC 3
- whoever: include corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals. See 1 USC 1
- writing: includes printing and typewriting and reproductions of visual symbols by photographing, multigraphing, mimeographing, manifolding, or otherwise. See 1 USC 1