Terms Used In California Codes > Health and Safety Code > Division 31 > Part 1 > Chapter 3.6 - Low-Income Housing Credit

• 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.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• 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
• Committee: means the Mortgage Bond and Tax Credit Allocation Committee, which is renamed the California Tax Credit Allocation Committee. See California Health and Safety Code 50199.7
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Director: means "State Director of Health Services. See California Health and Safety Code 21
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• District: as used in this chapter , means a district formed pursuant to this chapter or pursuant to any law which it supersedes. See California Public Resources Code 49100
• Ex officio: Literally, by virtue of one's office.
• farmworker housing: means housing for agricultural workers that is available to, and occupied by, only farmworkers and their households. See California Health and Safety Code 50199.7
• 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.
• 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}
• Housing credit: means the tax credit for low-income rental housing provided under Section 42 of the federal Internal Revenue Code (26 U. See California Health and Safety Code 50199.7
• Housing credit applicant: means any owner, sponsor, or developer of a qualifying low-income building or project who applies to the committee for either of the following:

  California Health and Safety Code 50199.7

• Housing credit ceiling: means the amount specified in Section 42(h)(3)(C) of the federal Internal Revenue Code (26 U. See California Health and Safety Code 50199.7
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• project: has the meaning specified in Section 42(c)(2) of the federal Internal Revenue Code (26 U. See California Health and Safety Code 50199.7
• 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.
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23