Tennessee § 5-9-113 - Affordable housing and workforce housing.

§ 5-9-113. Affordable housing and workforce housing.

The county legislative body of any county with a metropolitan government and a population not less than five hundred thousand (500,000), according to the 2010 federal census or any subsequent federal census, is authorized to appropriate funds for affordable housing or workforce housing. As used in this section: “Affordable housing” means housing that, on an annual basis, costs thirty percent (30%) or less than the estimated median household income for households earning sixty percent (60%) or less of the area median income for the Nashville-Davidson County metropolitan statistical area as determined by the United States department of housing and urban development, adjusted for family size; and “Workforce housing” means housing that, on an annual basis, costs thirty percent (30%) or less than the estimated median household income for households earning more than sixty percent (60%) and not to exceed one hundred twenty percent (120%) of the area median income for the Nashville-Davidson County metropolitan statistical area as determined by the United States department of housing and urban development, adjusted for family size. Acts 2015, ch. 377, § 1; 2018, ch. 791, § 1. Amendments. The 2018 amendment, inserted “of any county with a metropolitan government and a population not less than five hundred thousand (500,000), according to the 2010 federal census or any subsequent federal census,” in (a); in (b)(1), substituted “sixty percent (60%) or less of” for “sixty percent (60%) or less than”; and, near the end of (b)(1) and at the end of (b)(2), substituted “the area median income for the Nashville-Davidson County metropolitan statistical area as determined by the United States department of housing and urban development, adjusted for family size” for “the median household income for the applicable county based on the number of persons in the household, as established by the ‘Median Household Income in the Past 12 Months by Household Size’ (B19019) from the most recently available United States Census Bureau American Community Survey”. Effective Dates. Acts 2015, ch. 377, § 2. May 8, 2015. Acts 2018, ch. 791, § 2. April 20, 2018. Attorney General Opinions. Legislation providing that a metropolitan government may issue bonds and notes under the Local Government Public Obligations Act must provide for a referendum. OAG 16-07, 2016 Tenn. AG LEXIS 7 (2/24/2016).