New Jersey § 55:14j-41

§ 55:14j-41.

Except as the context may otherwise require: a. “ Department ” means the Department of Community Affairs. b. “Commissioner” means the Commissioner of the Department of Community Affairs. c. “ Commission ” means the New Jersey Commission on Capital Budgeting and Planning. d. “Act” means this act, and any amendments and supplements thereto, and any rules

and regulations promulgated thereunder. e. “ Low income, ” and “ moderate income ” shall be determined by the commissioner pursuant to regulations promulgated under

this act, provided however, that the commissioner, in his determination, shall consider

the Federal standards for low and moderate income for the various communities within

the State of New Jersey. f. “ Qualified mortgagor ” means any nonprofit or limited dividend housing sponsor, owner entity or individual,

or any municipality, county or public authority, constructing, rehabilitating, maintaining

or operating housing in New Jersey under a Federal low or moderate income housing

program, the New Jersey Housing Finance Agency program, or other programs for low

or moderate income occupancy. g. “ Qualified housing development ” means any housing project built or rehabilitated or to be built or rehabilitated

and operated by a qualified mortgagor. h. “ Senior citizen ” means a person of low or moderate income, 62 years of age or older, or families

of low or moderate income which consist of two or more persons and the head of which,

or his spouse, is 62 years of age or older.