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(a) The Mayor may make a one-time transfer of $4 million from the Housing Production Trust Fund to such accounts or sub-accounts as may be established pursuant to the trust agreement to be entered into pursuant to 6-1061.02(e).
(b)(1) The Mayor may make a one-time transfer of $1 million from the industrial revenue bond special account established under § 47-131(c)(4) to such accounts or sub-accounts as may be established pursuant to the trust agreement to be entered into pursuant to 6-1061.02(e). The funds transferred pursuant to this subsection may be used to assist eligible households whose annual incomes do not exceed 120% of the area median income.
(2) For the purposes of this subsection, the terms “area median income” and “eligible households” shall have the same meanings as provided in § 42-2801.
Cite this article: FindLaw.com - District of Columbia Code Division I. Government of District. § 6-1061.04. Authority to transfer moneys from the Housing Production Trust Fund and the industrial revenue bond special account. - last updated January 01, 2020 | https://codes.findlaw.com/dc/division-i-government-of-district/dc-code-sect-6-1061-04/
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