Page:United States Statutes at Large Volume 104 Part 2.djvu/381

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1^' j! ^~i0 jl^^ '^ PUBLIC LAW 101-507—NOV. 5, 1990 104 STAT. 1361 ASSISTANCE FOR THE RENEWAL OF EXPIRING SECTION 8 SUBSIDY CONTRACTS (INCLUDING TRANSFER OF FUNDS) For assistance under the United States Housing Act of 1937 (42 U.S.C. 1437) not otherwise provided for, for use in connection with expiring section 8 subsidy contracts, $7,734,985,400, to remain available until expended, of which $3,654,519,750 shall be for existing certificates, $3,102,872,600 shall be for housing vouchers and $977,593,050 shall be for loan management under section 8: Provided, That funds provided under this paragraph may not be obligated for a contract term that is less than five years: Provided further, That to the extent the amount in this paragraph is insufficient, the Secretary may, from the Annual Contributions for Assisted Housing paragraph, transfer to, add to, and merge with the amounts appropriated under this paragraph up to $150,000,000 to fund such insufficiency, and the $1,810,442,000 earmarked for amendments to section 8 contracts other than contracts for projects developed under section 202 of the Housing Act of 1959, in the Annual Contributions for Assisted Housing paragraph, shall be reduced by an amount equal to the amount transferred: Provided further. That the Secretary may maintain consolidated accounting data for funds disbursed at the Public Housing Agency or Indian Housing Authority or project level for subsidy assistance regardless of the source of the disbursement so as to minimize the administrative burden of multiple accounts. RENTAL REHABIUTATION GRANTS For the rental rehabilitation grants program, pursuant to section 17(a)(l)(A) of the United States Housing Act of 1937, as amended (42 U.S.C. 1437o), $70,000,000, to remain available until September 30, 1993. 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 1991 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 1991, direct loan obligations may be made under section 202 of the Housing Act of 1959, as amended (12 U.S.C. 1701q), using any resources transferred to the fund pursuant to the first proviso of the second paragraph and the first proviso of the fourth paragraph under the head "Annual Contributions for Assisted Housing" in title II of this Act: Provided, That, notwithstanding 12 USC I70lq section 202(a)(3) of the Housing Act of 1959, any such obligations "°*®- shall bear an interest rate which does not exceed 9.25 per centum, including the allowance adequate in the judgment of the Secretary to cover administrative costs and probable losses under the program.