P.R. Laws tit. 17, § 651
The following terms used in §§ 651-660c of this title shall be defined as follows:
New construction.— Any dwelling which has been constructed but not occupied, which is being constructed and/or is going to be constructed.
Adjusted monthly income.— Means one-twelfth (1/12) part of the annual income of the family after deducting therefrom the credits provided in § 654 of this title.
Moderate-income family.— Means any family of two or more persons whose income is higher than that of a family whose income renders such family ineligible to occupy public housing projects constructed and managed by the Housing Finance Authority, the Department of Housing, and/or entities attached thereto, and at the same time is so low as not to enable it to rent or buy an adequate, safe, and hygienic dwelling constructed by a private company. There shall also be considered as family of moderate income any family of two or more persons which, though eligible to occupy a public dwelling, has sufficient income to acquire in lease or by purchase a house built under the provisions of §§ 651—660c of this title.
The Housing Finance Authority shall determine, from time to time, the maximum income of the families taking advantage of this program.
History —July 5, 1973, No. 10, p. 771, § 1; Nov. 14, 1974, No. 6, Part 2, p. 727, § 1; June 22, 1975, No. 69, p. 172; Aug. 4, 2012, No. 152, § 1.