California Government Code

§ 66340

GOV § 66340 Effective Mar 25, 2024Div. 1 · Title 7 · Ch. 13 · Art. 4

Statute text

For purposes of this article:

(a)“Qualified buyer” means persons and families of low or moderate income, as that term is defined in Section 50093 of the Health and Safety Code.

(b)“Qualified nonprofit corporation” means a nonprofit corporation organized pursuant to Section 501(c)(3) of the Internal Revenue Code that has received a welfare exemption under Section 214.15 of the Revenue and Taxation Code for properties intended to be sold to low-income families who participate in a special no-interest loan program.

Legislative history

Added by Stats. 2024, Ch. 7, Sec. 20. (SB 477) Effective March 25, 2024.