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15-5-1703. Definitions.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-1703. Definitions.
As used in this subchapter:
(1) “Advisory committee” means the Housing Trust Fund Advisory Committee created in § 15-5-1706;
(2) “Authority” means the Arkansas Development Finance Authority;
(3) “Board” means the Board of Directors of the Arkansas Development Finance Authority;
(4) “Eligible activities” means activities eligible for funding by the Arkansas Housing Trust Fund, as set forth in this subchapter;
(5) “Eligible applicants” means persons or entities eligible to receive funds from the fund, as set forth in this subchapter;
(6) “Housing trust fund” means the fund created in § 15-5-1704; and
(7) “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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-1703
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:15-5-1703
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 02afd9ba8012d9fb60cbb391161718e499996c46bbb55a3ad024eb56ba2f3673
Source location: content.xml paragraph 9585
Stored source content
15-5-1703. Definitions.
As used in this subchapter:
(1) “Advisory committee” means the Housing Trust Fund Advisory Committee created in § 15-5-1706;
(2) “Authority” means the Arkansas Development Finance Authority;
(3) “Board” means the Board of Directors of the Arkansas Development Finance Authority;
(4) “Eligible activities” means activities eligible for funding by the Arkansas Housing Trust Fund, as set forth in this subchapter;
(5) “Eligible applicants” means persons or entities eligible to receive funds from the fund, as set forth in this subchapter;
(6) “Housing trust fund” means the fund created in § 15-5-1704; and
(7) “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.
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Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-1704. Establishment of Arkansas Housing Trust Fund.
(a) There is established on the books of the Arkansas Development Finance Authority a special restricted fund, to be known as the “Arkansas Housing Trust Fund”, which shall be maintained and administered by the authority for the purposes stated in this subchapter.
(b) All moneys deposited into the fund under this subchapter are cash funds restricted in their use and shall not be deposited into the State Treasury or deemed to be a part of the State Treasury for the purposes of Arkansas Constitution, Article 5, § 29, Arkansas Constitution, Article 16, § 12, or Arkansas Constitution, Amendment 20, or any other constitutional or statutory provisions, but shall be held by the authority and used solely for the purposes stated under this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-1704
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 15-5-1704. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-1706. Creation of Arkansas Housing Trust Fund Advisory Committee.
(a)(1) There is created the Arkansas Housing Trust Fund Advisory Committee for the purpose of advising the staff and the Board of Directors of the Arkansas Development Finance Authority with respect to the Arkansas Housing Trust Fund.
(2) The members of the advisory committee shall be residents of the state and should, to the extent possible, reflect the demographics of the state with respect to geography, race, gender, and urban-rural mix.
(3) The members of the advisory committee shall be entitled to expense reimbursement under § 25-16-902 from amounts deposited into the fund.
(4) Each member of the advisory committee should have a demonstrated interest in the housing needs of individuals and families with low or moderate incomes and the revitalization of distressed neighborhoods.
(b) The advisory committee shall consist of eleven (11) members with the qualifications under § 15-5-1705 to be appointed by the Governor, the Speaker of the House of Representatives, and the President Pro Tempore of the Senate, as follows:
(1) A representative of the financial industry, appointed by the Governor;
(2) A beneficiary of assistance in rental housing or home ownership, appointed by the Governor;
(3) An advocate for the homeless, appointed by the Governor;
(4) A representative of the real estate industry, appointed by the Governor;
(5) A representative from the economic development field, appointed by the Governor;
(6) A developer of affordable housing, appointed by the Governor;
(7) A citizen, appointed by the Governor;
(8) A consumer advocate with experience as a fair-housing advocate, housing counselor, or affordable housing advocate, appointed by the Speaker of the House of Repres
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-1706
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 15-5-1706. This identifies an authority to review, not proof of applicability.