101 STAT. 1329-189
42 USC 1437o.
PUBLIC LAW 100-202—DEC. 22, 1987
grants shall be made available during 1988 on the terms specified in the sixth proviso under this head in the Department of Housing and Urban Development appropriation for 1987 (section 101(g) of Public Laws 99-500 and 99-591, 100 Stat. 1783, 1783-242, 3341, 3341-242): Provided further, That section 17(d)(4)(G) of the Act is amended by striking ' 36 months" and inserting "48 months": Provided further, That any amounts of new budget authority provided under this head in prior appropriations Acts that are recaptured or carried over from one fiscal year to another which are available for use in fiscal year 1988 and thereafter shall be available as an appropriation of funds without regard to whether such budget authority has heretofore been available as an appropriation of funds: Provided further, That any amount of contract authority provided prior to fiscal year 1976 for any purpose authorized by the Act, as in effect prior to the effective date for amendments to such 1937 Act prescribed under section 2010a) of the Housing and Community Development Act of 1974 (Public Law 93-383, 88 Stat. 633, 667) and as in effect thereafter, that is not reserved or obligated on October 1, 1987, or that is recaptured during fiscal year 1988 or thereafter, is rescinded as of October 1, 1987, or upon recapture, as the case may be: Provided further. That none of the amounts under this head that are available for obligation in 1988 shall be subject to the provisions of section 213(d) of the Housing and Community Development Act of 1974, as amended (42 U.S.C. 1439). RENTAL HOUSING ASSISTANCE (RESCISSION)
The limitation otherwise applicable to the maximum payments that may be required in any fiscal year by all contracts entered into under section 236 of the National Housing Act (12 U.S.C. 1715z-l) is reduced in fiscal year 1988 by not more than $2,000,000 in uncommitted balances of authorizations provided for this purpose in appropriations Acts. HOUSING FOR THE ELDERLY OR HANDICAPPED FUND
In fiscal year 1988, $565,776,000 of direct loan obligations may be made under section 202 of the Housing Act of 1959, as amended (12 U.S.C. 1701q), utilizing the resources of the fund authorized by subsection (a)(4) of such section, in accordance with paragraph (C) of such subsection: Provided, That such commitments shall be available only to qualified nonprofit sponsors for the purpose of providing 100 per centum loans for the development of housing for the elderly or handicapped, with any cash equity or other financial commitments imposed as a condition of loan approval to be returned to the sponsor if sustaining occupancy is achieved in a reasonable period of time: Provided further. That the full amount shall be available for permanent financing (including construction financing) for housing projects for the elderly or handicapped: Provided further. That 25 percent of the direct loan authority provided herein shall be used only for the purpose of providing loans for projects for the handicapped: Provided further. That the Secretary may borrow from the Secretary of the Treasury in such amounts as are necessary to provide the loans authorized herein: Provided further. That, notwithstanding any other provision of law, the receipts and disbursements of the aforesaid fund shall be included in the totals of the
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