Adjusted Income definition

Adjusted Income means, with respect to a HOME Development, the gross income from wages, income from assets, regular cash or noncash contributions, and any other resources and benefits determined to be income by HUD, adjusted for family size, minus the deductions allowable under 24 CFR §5.611.

Adjusted Income means unadjusted income as modified by Sections 59-7-105 and 59-7-106. (2)

Adjusted Income means the amount determined by subtracting income deductions from countable (see section (18) of this rule) income (see OAR 461-140-0010). Specific rules on the deductions are in OAR chapter 461, division 160.

Examples of Adjusted Income in a sentence

• Notwithstanding the foregoing provisions of Section 4(a), no Tenant who satisfies the applicable income limit for a Restricted Unit, upon initial occupancy shall be denied continued occupancy of a Restricted Unit in the Project because, after admission, the aggregate Adjusted Income of all Tenants in the Restricted Unit increases to exceed the qualifying limit for such Restricted Unit.

• The unit occupied by such Tenants whose aggregate Adjusted Income exceeds such applicable income limit shall continue to be treated as occupied by a Tenant satisfying the applicable income limit for such Restricted Unit for purposes of the requirements of Section 4(a) hereof unless and until an Available Unit of comparable or smaller size is rented to persons other than a Tenant satisfying the applicable income limit for such Restricted Unit.

• However, should the aggregate Adjusted Income of Tenants in a Restricted Unit, as of the most recent determination thereof, exceed one hundred forty percent (140%) of the applicable income limit for such Restricted Unit occupied by the same number of Tenants, the next available unit of comparable or smaller size must be rented to (or held vacant and available for immediate occupancy) by a Tenant satisfying the applicable income limit for such Restricted Unit.

• Each Phase of the Project shall dedicate a minimum of ten percent (10%) of the Dwelling Units for occupancy of households with Adjusted Incomes that do not exceed 100% of AMI, and the average Adjusted Income for all set-aside Affordable Dwelling Units in each Phase shall not exceed sixty percent (60%) of AMI.

• Unless a tenant’s Adjusted Income rises above one hundred percent (100%) of AMI, the rent of such tenant’s unit shall remain restricted and the applicable unit does not need to be replaced by a Next Available Unit unless and until the tenant’s income rises above one hundred percent (100%) of AMI.

More Definitions of Adjusted Income

Adjusted Income means the adjusted income of a person (together with the adjusted income of all persons who intend to reside with such person in one residential unit) as calculated in the manner prescribed in the Code as of the Delivery Date.

Adjusted Income means income minus any deductions allowable

Adjusted Income means income minus any deductions allowable by

Adjusted Income means the income for all household members after deductions for household medical expenses as described in OAR 411-032- 0044.

Adjusted Income means the adjusted income of a person (together with the adjusted income of all persons who intend to reside with such person in one residential unit) calculated pursuant to Section 142(d)(2)(B) of the Code.

Adjusted Income means the adjusted income of all persons who intend to reside in one residential unit, calculated in the manner which complies with determinations of income for low income families under the Department of Housing and Urban Development’s Section 8 Program of the United States Housing Act of 1937, as amended.

Adjusted Income means the amount determined by subtracting income deductions from countable income (see OAR 461-140-0010). Specific rules on the deductions are found in division 461-160.