42 U.S.C. § 12744 — Income targeting

Each participating jurisdiction must invest funds made available under this part within each fiscal year so that— (1) about rental assistance and rental units— (A) not under 90 percent of (i) the families receiving such rental assistance are families whose incomes do not exceed 60 percent of the median family income for the area, as determined by the Secretary^* with adjustments for smaller and larger families, (except that the Secretary can establish income ceilings higher or lower than 60 percent of the median for the area on the basis of the Secretary’s findings that such variations are necessary because of prevailing levels of construction cost or fair market rent, or unusually high or low family income) when occupancy or at the time funds are invested, whichever is later, or (ii) the dwelling units assisted with those funds are occupied by families having such incomes; and (B) the remainder of (i) the families receiving such rental assistance are households that qualify as low-income families (other than families described in subparagraph (A)) when occupancy or at the time funds are invested, whichever is later, or (ii) the dwelling units assisted with those funds are occupied by such households; (2) about homeownership assistance, 100 percent of those funds are invested about dwelling units that are occupied by families with a household income that does not exceed 100 percent of the median family income of the area, as determined by the Secretary; and (3) all those funds are invested about housing that qualifies as affordable housing^* under section 12745 of this title .