(a) Arkansas Housing Trust Fund activity that generates program income, as defined in the Arkansas Housing Trust Fund grant or loan agreement between the recipient and the Arkansas Development Finance Authority, as a direct result of Arkansas Housing Trust Fund-funded activity, the recipient must remit such program income received from Arkansas Housing Trust Fund activity directly to the authority within sixty (60) days of receipt of the program income.
(b) The authority will reallocate any program income received to eligible Arkansas Housing Trust Fund applicants for eligible Arkansas Housing Trust Fund activities.