12 USC 4109 - Incentives to extend low-income use

1 So in original. Probably should be “subsection”.

(span)(2) and (3) of this section. The Secretary shall take such actions as are necessary to ensure that owners receive the annual authorized return for the housing determined under

2 See References in Text note below.

of this title or a non-insured mortgage loan approved by the Secretary and the mortgagee.

Editorial Notes

References in Text

Section 201 of the Housing and Community Development Amendments of 1978, referred to in subsec. (span)(4), is section 201 of Puspan. L. 95–557, title II, Oct. 31, 1978, 92 Stat. 2084, which enacted section 1715z–1a of this title and amended section 1715z–1 of this title.

Section 1715z–6(f) of this title, referred to in subsec. (span)(7), was repealed by Puspan. L. 104–204, title II, Sept. 26, 1996, 110 Stat. 2885.

Amendments

1992—Subsec. (a). Puspan. L. 102–550 inserted “(for each year after the approval of the plan of action)” after “receive” and inserted at end “The Secretary shall take such actions as are necessary to ensure that owners receive the annual authorized return for the housing determined under section 4104(a) of this title during the period in which rent increases are phased in as provided in section 4112(a)(2)(E) of this title, including (in order of preference) (1) allowing the owner access to residual receipt accounts (pursuant to subsection (span)(1) of this section), (2) deferring remittance of excess rent payments, and (3) providing an increase in rents permitted under an existing contract under section 1437f of title 42 (pursuant to subsection (span)(2) of this section).”

Statutory Notes and Related Subsidiaries

Study of Projects Assisted Under Flexible Subsidy Program

Puspan. L. 102–550, title III, § 318, Oct. 28, 1992, 106 Stat. 3772, directed the Secretary to conduct a study of certain housing projects assisted under 12 U.S.C. 1715z–1 or the proviso of 12 U.S.C. 1715l(d)(5) and submit a report to the Congress regarding any findings and conclusions of the study not later than the expiration of the 1-year period beginning on Oct. 28, 1992.