4.7.1.2 Multifamily Housing Bonds

Exempt facility qualified residential rental property bonds are bonds issued to finance affordable rental housing. Among other requirements, either 20% of the units in a financed facility must be made available for rental to families earning 50% or less of area median income or 40% of the units in the financed facility must be made available for rental to families earning 60% or less of area median income. See Section 3.3.9.5, Multifamily Housing.