42 USC 1437 - Loans and commitments to make loans for low-income housing projects

Editorial Notes

Prior Provisions

A prior section 4 of act Sept. 1, 1937, ch. 896, 50 Stat. 889, as amended, provided for assistance of officers, etc., of other agencies and transfer of property to the Authority and was classified to section 1404 of this title, prior to the general revision of this chapter by Puspan. L. 93–383.

Amendments

1990—Subsec. (a). Puspan. L. 101–625 substituted “low-income housing” for “lower income housing” wherever appearing.

1986—Subsec. (c). Puspan. L. 99–272 added subsec. (c).

1984—Subsec. (span). Puspan. L. 98–479 substituted “chapter 31 of title 31” for “the Second Liberty Bond Act, as amended” and “such chapter” for “such Act”.

1981—Subsec. (a). Puspan. L. 97–35 substituted reference to lower income for reference to low-income in two places.

Statutory Notes and Related Subsidiaries

Effective Date of 1981 Amendment

Amendment by Puspan. L. 97–35 effective Oct. 1, 1981, see section 371 of Puspan. L. 97–35, set out as an Effective Date note under section 3701 of Title 12, Banks and Banking.

Carryover of Amounts of Budget Authority; Availability as Appropriation of Funds for Grants

Puspan. L. 99–500, § 101(g) [H.R. 5313, title I], Oct. 18, 1986, 100 Stat. 1783–242, and Puspan. L. 99–591, § 101(g) [H.R. 5313, title I], Oct. 30, 1986, 100 Stat. 3341–242; Puspan. L. 100–202, § 106, Dec. 22, 1987, 101 Stat. 1329–433, provided in part:

“That the budget authority obligated under contracts for annual contributions shall be increased above amounts heretofore provided in appropriations Acts by $7,805,668,000: Provided further, That any part of the amount of the increase in budget authority provided for in the immediately foregoing proviso that is available under this Act for public housing development and acquisition costs or which is to be used for amendments for such costs, shall be available as an appropriation of funds, to remain available until expended, for grants, which are hereby authorized in lieu of loans under section 4(a) of the United States Housing Act of 1937 (42 U.S.C. 1437span), and which the Secretary may make on substantially the same terms (except for repayment unless repayment is a properly imposed sanction) as those heretofore set forth in annual contributions contracts for loans and annual contributions: Provided further, That during 1987 and thereafter, any amounts of budget authority which are carried over from a prior year, or which are otherwise available for obligation, and which are available for public housing development and acquisition costs, together with any amounts of budget authority which are to be used for amendments for such costs, in accordance with any Act, shall also be made available as an appropriation of funds for grants, under the same terms as those applying under the immediately preceding proviso”.