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This entry was published on 2014-09-22
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SECTION 59-B
Affordable housing development account
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 3
§ 59-b. Affordable housing development account. The affordable housing
corporation created by section forty-five-b of this chapter shall create
and establish a special account to be known as the affordable housing
development account and shall pay into such account any moneys which may
be made available to such corporation for the purposes of such account
from any source including but not limited to moneys appropriated by and
made available pursuant to appropriation by the state and any income or
interest earned by, or increment to, the account due to the investment
thereof or loans made pursuant to article nineteen of this chapter. The
moneys held in or credited to the affordable housing development account
established under this section shall be expended solely to carry out the
provisions of article nineteen of this chapter.