Arkansas Code Title 15. Natural Resources and Economic Development § 15-5-1703. Definitions

(1) “Authority” means the Arkansas Development Finance Authority;

(2) “Board” means the Board of Directors of the Arkansas Development Finance Authority;

(3) “Eligible activities” means activities eligible for funding by the Arkansas Housing Trust Fund, as set forth in this subchapter;

(4) “Eligible applicants” means persons or entities eligible to receive funds from the fund, as set forth in this subchapter;

(5) “Housing trust fund” means the fund created in § 15-5-1704; and

(6) “Median household income” means state or area median household income, as defined and adjusted annually by the United States Department of Housing and Urban Development.