Authorizes the state division of housing and community renewal to study housing programs for low and middle income families; provides for a moratorium on the voluntary dissolution of limited profit, limited dividend and redevelopment housing companies.
Authorizes the state division of housing and community renewal to study housing programs for low and middle income families; provides for a moratorium on the voluntary dissolution of limited profit, limited dividend and redevelopment housing companies.
Relates to limited-profit housing companies; authorizes certain companies to pay dividends or interest in excess of six percent per annum; relates to the dissolution of certain rental housing companies.
Defines "probable aggregate annual income" for purposes of determining eligibility for limited profit and limited dividend housing companies, as the annual net income after federal, state and municipal income taxes are deducted from gross income of the chief wage earner.
Defines "probable aggregate annual income" for purposes of determining eligibility for limited profit and limited dividend housing companies, as the annual net income after federal, state and municipal income taxes are deducted from gross income of the chief wage earner.
Requires that all public housing contracts entered into by the division of housing and community renewal and municipal housing authorities be disclosed on the division of housing and community renewal's website so that such public housing contracts are available to the public.