Indiana Code 5-20-5-17. Allocation for nonprofit corporation, public housing authority, or unit of government
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Indiana Code 5-20-5-17
- authority: means the Indiana housing and community development authority created by IC 5-20-1-3. See Indiana Code 5-20-5-2
- 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.
- eligible entity: refers to a city, town, or county. See Indiana Code 5-20-5-3
Sec. 17. An eligible entity must allocate at least fifty percent (50%) of the money received in program grants to a nonprofit corporation (as defined under Section 501(c) of the Internal Revenue Code), to a public housing authority (as defined in IC 36-7-18) or to a unit of government (as defined in IC 36-1-2-23). Money received in program grants that is not allocated to a nonprofit corporation, a public housing authority, or a unit of government may be allocated to private developers of housing and other private development entities as determined by the eligible entity.
As added by P.L.115-2000, SEC.1.