Page:United States Statutes at Large Volume 102 Part 4.djvu/301

 PUBLIC LAW 100-628—NOV. 7, 1988

102 STAT. 3271

ceeds the increase in the Consumer Price Index or 10 percent (whichever is lower))"; and (2) by inserting before the semicolon at the end the following: ", determined without r^ard to the availability of Federal housing assistance that would address any such hardship or involuntary displacement". SEC. 1025. MODIFICATION OF EXISTING REGULATORY AGREEMENTS.

(a) CORRECTION OF CROSS-REFERENCE.—Section 228(a)(5) of the Housing and Community Development Act of 1987 (12 U.S.C. 17151 note) is amended by striking "section 225(b)(6)" and inserting "section 225(b)(3)(F)". (b) O)RRECTi0N OF TYPOGRAPHICAL ERROR.—Section 228(a) of the Housing and Community Development Act of 1987 (12 U.S.C. 17151 note) is amended by inserting a period at the end. SEC. 1026. REPORT ON NOTICE TO TENANTS AND INCENTIVES.

Section 232 of the Housing and Community Development Act of 1987 (12 U.S.C. 17151 note) is amended by adding at the end the following new sentence: "The report shall also include a detailed description of (1) the actions tsdien by the Secretary to ensure meaningful participation by affected tenants; and (2) the incentives developed by the Secretary under section 224 to ensure compliance with this subtitle.". SEC. 1027. DEFINITION OF ELIGIBLE LOW INCOME HOUSING.

Section 233(l)(A)(iii) of the Housing and Community Development Act of 1987 (12 U.S.C. 17151 note) is amended by inserting "or a State or State agency" after "Secretary". SEC. 1028. RURAL RENTAL HOUSING DISPLACEMENT PREVENTION.

(a) ASSISTANCE AVAILABLE TO BORROWER.—Section 502(c)(4)(B)(iv) of the Housing Act of 1949 (42 U.S.C. 1472(c)(4)(B)(iv)) is amended by striking "paragraphs (7) and (8) of section 515(b)" and inserting "paragraphs (1) and (2) of section 515(c)". (b) SELECTION OF PURCHASERS.—Section 502(c)(5)(B) of the Housing

Act of 1949 (42 U.S.C. 1472(c)(5)(B)) is amended by adding at the end the following new clause: "(iii) SELECTION OF QUALIFIED PURCHASER.—The Secretary

shall promulgate regulations that establish criteria for selecting a qualified nonprofit organization or public agency to purchase housing and related facilities when more than 1 such organization or agency has made a bona fide offer. Such r^ulations shall give a priority to those organizations or agencies with the greatest experience in developing or managing low income housing or community development projects and with the longest record of service to the community.". (c) DEFINITIONS OF NONPROFIT ORGANIZATIONS.—Section 502(c)(5)(I) of the Housing Act of 1949 (42 U.S.C. 1472(c)(5)(I)) is amended to read as follows: "(I) DEFINITIONS.—For purposes of this paragraph: "(i) LOCAL NONPROFIT ORGANIZATION.—The term local nonprofit organization' means a nonprofit organization that— "(I) has a broad based board reflecting various interests in the community or trade area; and

Regulations.

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