(b)

1. (1) Except as provided in paragraph (2), for any rental housing development that receives assistance on or after January 1, 1991, and a condition of that assistance is compliance with this section, “affordable rent,” including a reasonable utility allowance, shall not exceed:

   1. (A)

      1. (i) For acutely low income households, as defined in Section 50063.5, the product of 30 percent times 15 percent of the area median income adjusted for family size appropriate for the unit.
      2. (ii) This subparagraph shall apply to a lease entered into on or after January 1, 2022.
   2. (B) For extremely low income households, the product of 30 percent times 30 percent of the area median income adjusted for family size appropriate for the unit.
   3. (C) For very low income households, the product of 30 percent times 50 percent of the area median income adjusted for family size appropriate for the unit.
   4. (D) For lower income households whose gross incomes exceed the maximum income for very low income households, the product of 30 percent times 60 percent of the area median income adjusted for family size appropriate for the unit. In addition, for those lower income households with gross incomes that exceed 60 percent of the area median income adjusted for family size, it shall be optional for any state or local funding agency to require that affordable rent be established at a level not to exceed 30 percent of gross income of the household.
   5. (E) For moderate-income households, the product of 30 percent times 110 percent of the area median income adjusted for family size appropriate for the unit. In addition, for those moderate-income households whose gross incomes exceed 110 percent of the area median income adjusted for family size, it shall be optional for any state or local funding agency to require that affordable rent be established at a level not to exceed 30 percent of gross income of the household.

2. (2) Notwithstanding paragraph (1), for a rental housing development described in paragraph (1) that dedicates at least 80 percent of units, exclusive of a manager’s unit or units, to lower income households, “affordable rent,” including a reasonable utility allowance, shall not exceed an amount consistent with the maximum rent levels for lower income households, as those rents and incomes are determined by the California Tax Credit Allocation Committee, if the rental housing development receives an award on or after January 1, 2025, of any of the following:

   1. (A) Federal or state low-income housing tax credits.
   2. (B) Tax-exempt private activity bonds or general obligation bonds.
   3. (C) Local, state, or federal loans or grants that utilize rent and income limits determined by the California Tax Credit Allocation Committee.