Page:United States Statutes at Large Volume 108 Part 1.djvu/385

 PUBLIC LAW 103-233—APR. 11, 1994 108 STAT. 359/ (4) REPEAL OF NOTICE PROVISION.— Section 404 of the Housing and Community Development Act of 1992 (12 U.S.C. 1715- la note) is amended by striking subsection (f). (5) PUBLICATION.— Section 404 of the Housing and Community Development Act of 1992 (12 U.S.C. 1715z-la note), as amended by paragraph (4) of this subsection, is further amended by inserting after subsection (e) the following new subsection: " (f) PUBLICATION OF METHOD FOR RECEIVING CAPITAL NEEDS ASSESSMENT. —The Secretary shall cause to be published in the Federal Register the method by which the Secretsiry determines which capital needs assessments will be received each year in accordance with section 402(b) and subsection (d) of this section.". (6) FUNDING. — Title IV of the Housing and Community Development Act of 1992 (12 U.S.C. 1715z-la note) is amended by adding at the end the following new section: -SEC. 409. FUNDING. "(a) ALLOCATION OF ASSISTANCE. —Based upon needs identified in comprehensive needs assessments, and subject to otherwise appHcable program requirements, including selection criteria, the Secretary may allocate the following assistance to owners of covered multifamily housing projects and may provide such assistance on a noncompetitive basis: "(1) Operating assistance and capital improvement assistance for troubled multifamily housing projects pursuant to section 201 of the Housing and Community Development Amendments of 1978, except for assistance set aside under section 201(n)(l). "(2) Loan management assistance available pursuant to section 8 of the United States Housing Act of 1937. "(b) OPERATING ASSISTANCE AND CAPITAL IMPROVEMENT ASSIST- ANCE.— In providing assistance under subsection (a) the Secretary shall use the selection criteria set forth in section 201(n) of the Housing and Community Development Amendments of 1978. "(c) AMOUNT OF ASSISTANCE.— The Secretary may fund all or only a portion of the needs identified in the capital needs assessment of an owner selected to receive assistance under this section.", (b) FLEXIBLE SUBSIDY PROGRAM. — (1) DELETION OF UTILITY COST REQUIREMENTS.—Section 201(i) of the Housing and Community Development Amendments of 1978 (12 U.S.C. 1715z-la(i)) is hereby repealed. (2) REPEAL OF MANDATORY CONTRIBUTION FROM OWNER.— Section 201(k)(2) of the Housing and Community Development Amendments of 1978 (12 U.S.C. 1715z-la(k)(2)) is amended by striking ", except that" and all that follows and inserting a period. (3) FUNDING. —Section 201(n) of the Housing and Community Development Amendments of 1978 (42 U.S.C. 1715z-la(n)) is amended to read as follows: " (n) ALLOCATION OF ASSISTANCE.— "(1) SET-ASIDE. —In providing, and contracting to provide, assistance for capital improvements under this section, in each fiscal year the Secretary shall set aside an amount, as determined by the Secretary, for projects that are eligible for incentives under section 224(b) of the Emergency Low Income Housing Preservation Act of 1987, as such section existed before the date of enactment of the Cranston-Gonzalez National 12 USC 1715z-la note. Federal Register, publication. 12 USC 1715z-la. 79-194 O—95-13: QL3 Part 1

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