RSA 204-C:56 Definitions.

As used in this subdivision:
I. "Affordable housing" means:
(a) Housing whose combined rental and utility costs or combined mortgage loan debt services, property taxes and required insurance do not exceed 30 percent of the gross income of persons of low or moderate income, as the case may be.
(b) In cases where there is no direct federal or state rental assistance being provided to the unit or the tenant who occupies it, a housing unit may be deemed affordable if the monthly rent does not exceed 1/12 of the tenant's pro rata share of the annual operating expenses, mortgage payments, and real estate taxes for the project; provided that:
(1) In no case shall depreciation of real or personal property be deemed an operating expense; and
(2) The rent does no