Page:United States Statutes at Large Volume 122.djvu/2894

 12 2 STA T . 2 87 1 PUBLIC LA W 11 0– 28 9—J UL Y3 0, 2008 ‘ ‘ (A)theS e cr et a r y t o a p po in t d e s i g nated u nder w riters , who sha l l b e responsible f or re v iewing such m ortgage insur - ance applications and ma k ing determinations regarding the eligibility of such applications for such mortgage insur- ance in lieu of the processing functions regarding such applications that are otherwise performed by other employees of the D epartment of H ousing and U rban Development ‘‘( B ) submission of applications for such mortgage insurance by mortgagees who have previously been e x pressly approved by the Secretary; and ‘‘( C ) determinations regarding the eligibility of such applications for such mortgage insurance to be made by the chief underwriter pursuant to re q uirements prescribed by the Secretary, which shall include requiring submission of reports regarding applications of proposed mortgagees by third-party entities expressly approved by the chief underwriter .’ ’. SEC.2835 . OTH E R H UDP RO G R AM S. (a) S ECTION8 A S SIST A NCE. — ( 1 ) P HA PR O J ECT- B ASE D ASSISTANCE.—Section 8(o)(1 3 )of the United States Housing Act of 1 9 3 7 ( 42 U.S.C. 1437f(o)(13)) is amended— (A) in subparagraph (D)(i)— (i) by striking ‘‘building’’ and inserting ‘‘pro j ect’’; and (ii) by adding at the end the following

‘‘ F or pur- poses of this subparagraph, the term’’project‘‘ means a single building, multiple contiguous buildings, or multiple buildings on contiguous parcels of land.’’; (B) in the first sentence of subparagraph (F), by striking ‘‘1 0 years’’ and inserting ‘‘1 5 years’’; (C) in subparagraph ( G )— (i) by inserting after the period at the end of the first sentence the following: ‘‘Such contract may, at the election of the public housing agency and the owner of the structure, specify that such contract shall be extended for renewal terms of up to 15 years each, if the agency makes the determination required by this subparagraph and the owner is in compliance with the terms of the contract.’’; and (ii) by adding at the end the following: ‘‘A public housing agency may agree to enter into such a contract at the time it enters into the initial agreement for a housing assistance payment contract or at any time thereafter that is before the expiration of the housing assistance payment contract.’’; (D) in subparagraph (H), by inserting before the period at the end of the first sentence the following: ‘‘, except that in the case of a contract unit that has been allocated low-income housing tax credits and for which the rent limitation pursuant to such section 42 is less than the amount that would otherwise be permitted under this subparagraph, the rent for such unit may, in the sole discretion of a public housing agency, be established at the higher section 8 rent, subject only to paragraph (10)(A)’’; Defin i t i o n .R e p o r t s.

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