Low-Income Person Law and Legal Definition
According to 13 CFR 119.2 [Title 13 Business Credit and Assistance; Chapter I Small Business Administration; Part 119 Program for Investment in Microentrepreneurs ("Prime" or "The Act")], low-income person means a person having an income, adjusted for family size, of not more than
(1) For metropolitan areas, 80 percent of the median income; and
(2) For non-metropolitan areas, the greater of
(i) 80 percent of the area median income; or
(ii) 80 percent of the statewide non-metropolitan area median income.
Legal Definition list
- Low-Income Individual
- Low-Income Home Energy Assistance Act
- Low-Income Geographic Area
- Low-Income Family
- Low-Income Community [Tax]
- Low-Income Person
- Low-Level Radioactive Waste
- Low-Level Residual Fixed Radioactivity [Energy]
- Low-Profit Limited Liability Company [L3c]
- Low-Quality Asset
- Low-Rise Residential Building
Related Legal Terms
- Absent Person
- Accidental Personal Injury
- Accountable Personal Property
- Actio Personalis Moritur Cum Persona
- Action in Personam
- Actus Inceptus Cujus Perfectio Pendet Ex Voluntate Partium Revocari Potest, Si Autem Pendet Ex Voluntate Tertiae Personae, Vel Ex Contingenti, Revocar
- Adverse Personnel Action
- Affiliated Persons (Securities)
- Agency Designee [Administrative Personnel]
- Antisocial Personality Disorder
