Page:United States Statutes at Large Volume 102 Part 4.djvu/294

 102 STAT. 3264 Contracts.

PUBLIC LAW 100-628—NOV. 7, 1988

"(h) APPLICABILITY.—Any management contract between a public housing agency and a resident management corporation that is entered into after the date of the enactment of the Stewart B. McKinney Homeless Assistance Amendments Act of 1988 shall be subject to this section and the r^ulations issued to carry out this section.". SEC. 1004. PROHIBITION OF REDUCTION OF SECTION 8 CONTRACT RENTS.

42 USC 1437f note.

Regulations. 42 USC 1437f note, contracts.

(a) IN GENERAL.—Section 8(c)(2)(O of the United States Housing Act of 1937 (42 U.S.C. 1437f(c)(2)(C)) is amended— (1) in the first sentence, by striking "as hereinbefore provided" and inserting the following: "under subparagraphs (A) and (B)"; and (2) by adding at the end the following new sentences: "Any maximum monthly rent that has been reduced by the Secretary after April 14, 1987, and prior to the enactment of this sentence shall be restored to the maximum monthly rent in effect on April 15, 1987. For any project which has had its maximum monthly rents reduced after April 14, 1987, the Secretary shall make assistance payments (from amounts reserved for the original contract) to the owner of such project in an amount equal to the difference between the maximum monthly rents in effect on April 15, 1987, and the reduced maximum monthly rents, multiplied by the number of months that the reduced maximum monthly rents were in effect.". (b) BUDGET OOMPUANCE.—During fiscal year 1989, the amendment made by subsection (a)(2) shall be effective only to such extent or in such amounts as are provided in appropriation Acts. For purposes of section 202 of the Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 (Public Law 100-119), to the extent that this section has the effect of transferring an outlay of the United States from one fiscal year to an adjacent fiscal year, the transfer is a necessary (but secondary) result of a significant policy change. SEC. 1005. PROJECT-BASED SECTION 8 ASSISTANCE. (a) IMPLEMENTATION OF PROGRAM.—To implement

the amendment made by section 148 of the Housing and Community Development Act of 1987, the Secretary of Housing and Urban Development shall issue r^ulations that take effect not later than 30 days after the date of the enactment of this Act. Until the effective date of the r^^ations, the Secretary of Housing and Urban Development shall consider each application from a public housing agency to attach a contract for assistance payments to a structure, in accordance with the amendment made by such section 148 to section 8(d)(2) of the United States Housing Act of 1937 (42 U.S.C. 1437f(d)(2)), and shall promptly approve such application if it meets the requirements of such section 8(d)(2). (b) AVAILABILITY IN NEW CONSTRUCTION PROJECTS.—

(1) IN GENERAL.—Section 8(d)(2) of the United States Housing Act of 1937 (42 U.S.C. 1437f(d)(2)) is amended— (A) by inserting "(A)" after the paragraph designation; (B) by striking (A)" and "(B)" each place it appears and inserting "(i)" and "(ii)", respectively; and (C) by adding at the end the following new subparagraph: "(B) The Secretary shall permit any public housing agency to approve the attachment of assistance under subsection (b)(l) with respect to any newly constructed structure if—

�