For purposes of this article:
“Qualified buyer” means persons and families of low or moderate income, as that term is defined in Section 50093 of the Health and Safety Code.
“Qualified nonprofit corporation” means a nonprofit corporation organized pursuant to Section 501(c)(3) of the Internal Revenue Code that has received a welfare exemption under Section 214.15 of the Revenue and Taxation Code for properties intended to be sold to low-income families who participate in a special no-interest loan program.
Statute text comes from the California Legislative Information page saved for this section; spacing and line breaks are normalized and every other character is reproduced as published. Check leginfo for any amendment made after the page was saved. Not legal advice.