Page:United States Statutes at Large Volume 106 Part 5.djvu/164

 106 STAT. 3802 PUBLIC LAW 102-550—OCT. 28, 1992 (1) The term "multifamily housing" means a property consisting of more than 4 dwelling units. (2) liie term ''qualified housing finance agency^ means any State or local housing finance agency that— (A) carries the designation of top tier" or its equivalent, as evaluated by Standard and Poors or any other nationally recognized rating agency; (B) receives a rating of A" for its general obligation bonds from a nationally recognized rating agency; or (C) otherwise demonstrates its capacity as a sound and experienced agency based on, but not limited to, its experience in financing multifamily housing, fund balances, administrative capabilities, investment policy, internal controls and financial management, portfolio quality, and State or local support. (3) The term "reinsurance agreement" means a contractual obligation under which the Secretary, in exchange for appropriate compensation, agrees to assimie a specified portion of the risk of loss that a lender or other party has previously assumed with respect to a mortgage on a multifamily housing property. (4) The term "Secretary*' means the Secretary of Housing and Urban Development. TITLE VI—HOUSING FOR ELDERLY PER- SONS AND PERSONS WITH DISABIL- ITIES Subtitle A—Supportive Housing Programs SEC. 601. FUNDING FOR SUPPORTIVE HOUSING FOR THE ELDERLY AND FOR PERSONS WITH DISABIUTIES. Appropriation (a) AGGREGATE FUNDING.—There are authorized to be approauthonzation. priated for the purpose of providing assistance in accordance with section 202 of the Housing Act of 1959 and section 811 of the Cranston-Gronzalez National Affordable Housing Act, $1,309,853,000 for fiscal year 1993 and $1,364,866,826 for fiscalyear 1994. (b) ALLOCATION.—Of any amounts made available for assistance under the sections referred to in subsection (a), 70 percent of such amount shall be used for assistance in accordance with section 202 of the Housing Act of 1959 and 30 percent of such amount shall be used for assistance in accordance with section 811 of the Cranston-Gonzalez National Affordable Housing Act. (c) SUPPORTIVE HOUSING FOR THE ELDERLY. —Section 202(1) of the Housing Act of 1959 (12 U.S.C. 1701q(l)) is amended— (1) by striking "AUTHORIZATIONS. — " and inserting "ALLOCA- TION OF FUNDS.— "; (2) in paragraph (1)— (A) by striking the first sentence and inserting the following new sentence: "Of any amounts made available for assistance under this section, such sums as may be necessary shall be available for funding capital advances in accordance with subsection (c)(D-"; and (B) in the second sentence, by striking "Amounts so appropriated" and inserting "Such amounts";

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