Income-based definition

Income-based means that eligibility to receive program benefits is based on financial status or need, or more specifically, is based on some eligibility criteria or “test” as relates to individual, household or family income.
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Income-based. Rent – This is based on the amount of income and related information Tenant provides, with a Minimum Rent of $ 50.00 per month; or (2) “Flat Rent” – This is based on the PHA-determined Flat Rent for a particular unit. A Tenant who has selected “Flat Rent” may request a change to “Income-based Rent” if circumstances occur creating a hardship that would be alleviated by reducing the rent. If the “flat rent” is selected, the PHA does not pay any utility reimbursement. A Tenant whose rent is changed from Flat Rent to Income-based would then remain under the Income-based calculation until the next Annual Review. The Tenant may also change rent calculation methods in connection with ▇▇▇▇▇▇’s annual recertification. A Tenant who is paying the $ 50.00 Minimum Rent and becomes unable to do so may ask that the rent be suspended because of a recognized hardship. The rental charge includes minimum water, sewage disposal, and garbage collection. If PHA is to supply heat or hot water per the current Schedule of Utilities, PHA will do so as specified by law. PHA will not, however, be liable for failing to supply any of the above services for any cause outside its control. PHA’s responsibilities are further outlined in Section 9 of this Dwelling Lease. Tenant is responsible for supplying heat; Tenant must do so as to prevent damage to the premises. If, for any reason, Tenant cannot maintain sufficient heat, Tenant must immediately notify PHA. Tenant shall pay for any damages to the unit resulting from ▇▇▇▇▇▇’s failure to maintain sufficient heat or to notify PHA of the lack of sufficient heat where due to reasons beyond Tenant’s control. Tenant rent is based on the Authority-determined “Flat Rent” for this unit. Tenant rent is based on the “income” and other supportive documentation reported by the Tenant (Total Tenant Payment (TTP) - 30% of Tenant’s monthly adjusted income).
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Related to Income-based

  • Income Year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

  • Performance-Based Cash Award means a right granted to a Participant under Article 9 to a cash award to be paid upon achievement of such performance goals as the Committee establishes with regard to such Award.

  • Incentive-Based Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • Performance-Based Restricted Stock means Shares issued or transferred to an Eligible Individual under Section 9.2.

  • Prime-based Rate means, for any day, that rate of interest which is equal to the sum of the Applicable Margin plus the greater of (i) the Prime Rate, and (ii) the Alternate Base Rate.