Page:United States Statutes at Large Volume 110 Part 1.djvu/64

 110 STAT. 40 PUBLIC LAW 104-99 -JAN. 26, 1996 TITLE IV HOUSING AND URBAN DEVELOPMENT SEC. 401. During fiscal year 1996, the Secretary of Housing and Urbsin Development may manage and dispose of multifamily properties owned by the Secretary, including the provision for grants from the General Insurance Fund (12 U.S.C. 1735c) for the necessary costs of rehabilitation and other related development costs and multifamily mortgages held by the Secretary without regard to any other provision of law. Effective date. 42 USC 1437a. 42 USC 1437a note. PUBLIC AND ASSISTED HOUSING RENTS, INCOME ADJUSTMENTS, AND PREFERENCES SEC. 402. (a) MINIMUM RENTS. —Notwithstanding sections 3(a) and 8(o)(2) of the United States Housing Act of 1937, as amended, effective for fiscal year 1996 and no later than October 30, 1995— (1) public housing agencies shall require each family who is assisted under the certificate or moderate rehabilitation program under section 8 of such Act to pay a minimum monthly rent of not less than $25, and may require a minimum monthly rentofupto$50; (2) public housing agencies shall reduce the monthly assistance payment on behalf of each family who is assisted under the voucher program under section 8 of such Act so that the family pays a minimum monthly rent of not less than $25, and may require a minimum monthly rent of up to $50; (3) with respect to housing assisted under other programs for rental assistance under section 8 of such Act, the Secretary shall require each family who is assisted under such program to pay a minimum monthly rent of not less than $25 for the unit, and may require a minimum monthly rent of up to $50; and (4) public housing agencies shall require each family who is assisted under the public housing program (including public housing for Indian families) of such Act to pay a minimum monthly rent of not less than $25, and may require a minimum monthly rent of up to $50. (b) ESTABLISHMENT OF CEILING RENTS. — (1) Section 3(a)(2) of the United States Housing Act of 1937 is amended to read as follows: "(2) Notwithstanding paragraph (1), a public housing agency may— "(A) adopt ceiling rents that reflect the reasonable market value of the housing, but that are not less than the monthly costs— "(i) to operate the housing of the agency; and "(ii) to make a deposit to a replacement reserve (in the sole discretion of the public housing agency); and "(B) allow families to pay ceiling rents referred to in subparagraph (A), unless, with respect to any family, the ceiling rent established under this paragraph would exceed the amount payable as rent by that family under paragraph (1).". (2) REGULATIONS. —

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