Moderate income housing plan reporting requirements

(1) As used in this section: (a) "Affordable housing" means, as determined by the division, the number of housing units within a county or municipality where a household whose income is at or below 50% of area median income is able to live in a unit without spending more than 30% of the household's income on housing costs. (b) "County" means the unincorporated area of a county. (c) "Low-income housing" means, as determined by the division, the number of Section 42, Internal Revenue Code, housing units within a county or municipality. (d) "Municipality" means a city or town. (2) (a) On or before October 1 of each year, the division shall provide a report to the office for inclusion in the office's annual report described in Section 63N-1a-306. (b) The report shall include: (i) an estimate of how many affordable housing units and how many low-income housing units are available in each county and municipality in the state; (ii) a determination of the percentage of affordable housing available in each county and municipality in the state as compared to the statewide average; (iii) a determination of the percentage of low-income housing available in each county and municipality in the state as compared to the statewide average; and (iv) a description of how information in the report was calculated.