42 U.S.C. § 12744 — Income targeting

(1) Rental assistance and rental units: (A) at least 90 percent of the families getting rental assistance — or of the dwelling units funded — must be occupied by families whose income does not exceed 60 percent of the area's median family income (adjusted for family size), measured at occupancy or when the funds are invested, whichever is later. The Secretary may set this ceiling higher or lower than 60 percent if construction costs, fair market rents, or unusually high or low incomes justify it. (B) The rest of the families or units must qualify as "low-income" — meaning income above the 60 percent line but still within the low-income definition — at occupancy or investment, whichever is later. (2) Homeownership assistance: 100 percent of the funds used for homeownership assistance must go toward dwelling units occupied by families whose household income does not exceed 100 percent of the area's median family income, as the Secretary determines. (3) All investments — rental or homeownership — must go toward housing that qualifies as "affordable housing" under section 12745.