502
PUBLIC LAW 90-448-AUG. 1, 1968
[82 STAT.
striking out "or 232 in the first sentence of the second paragraph and inserting in lieu thereof ", 232, or 236". 12 USC m s r (^) Section 227(a) of such Act is amended by striking out "or (viii) under section 234(d) " and inserting in lieu thereof " (viii) under section 234(d), or (ix) under section 236". (3) Section 227(c) of such Act is amended by striking out "or section 2 3 3 (b)(2) " each place it appears and inserting in lieu thereof "section 233, or section 236". (c) The Secretary of Housing and Urban Development is authorized, upon such terms and conditions as he may prescribe, to transfer Ante, p. 500. ^Q gection 236(j) of the National Housing Act the insurance of a mortgage which has not be finally endorsed for insurance under section 152^- 79^8131^454 221(d)(3) of such Act and which has been approved for the below12 USC 1715^ market interest rate prescribed in the proviso of section 221(d)(5) of such Act. (d) The Secretary of Housing and Urban Development is authorized, upon such terms and conditions as he may prescribe, to insure under section 236(j) of the National Housing Act a mortgage meeting the requirements of such section which is given to refinance a mortgage 1^ use ^^^ ^^^^ made under section 202 of the Housing Act of 1959: Provided, That the application for such insurance is filed with the Secretary on or before the date of project completion, or within such reasonable time thereafter as the Secretary may permit. (e)(1) Section 101(d) of the Housing and Urban Development Act 12 USC ^7^01 s ^^ ^ ^ ^ ^^ amended by adding at the end thereof the following: " I n determining the income of any tenant for the purposes of this section, there shall be deducted an amount equal to $300 for each minor person who is a member of the immediate family of such tenant and living with such tenant, and the earnings of any such minor person shall not be included in the income of such tenant." (2) Section 101(g) of such Act is amended by striking out "or section 231(c)(3) " and inserting in lieu thereof ", section 231(c)(3), or section 236". (3) Section 101(j)(1) of such Act is amended— (A) by striking out "and" at the end of subparagraph (B); (B) by striking out the period at the end of subparagraph (C) and inserting in lieu thereof "; and"; and (C) by inserting after subparagraph (C) a new subparagraph as follows: " (D) a private nonprofit corporation or other private nonprofit legal entity, a limited dividend corporation or other limited divided legal entity, or a cooperative housing corporation, which is assisted under section 236 of the National Housing Act and which has been approved for receiving the benefits of this section: Provided, That payments shall not be made with respect to more than 20 per centum of the dwelling units in any property so financed." (f) Section 207 of the Appalachian Regional Development Act of 8ism.26i. 1965 is amended— 207. ^^^' (1) by inserting in the heading "AND SECTION 236" immediately after "SECTION 221"; (2) by inserting "or section 236" after "section 221" each place it appears; (3) by inserting "or 'section 236' " after " 'section 221' " in subsection (a); and (4) by inserting ", GoA^ernment National Mortgage Association," immediately after "Federal Housing Administration" in subsection (c).
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