Page:United States Statutes at Large Volume 94 Part 2.djvu/352

 94 STAT. 1630

PUBLIC LAW 96-399—OCT. 8, 1980 (2) by striking out "on or after October 1, 1978," in the first sentence and all that follows through "October 31, 1978,". RENT SUPPLEMENTS

12 USC 1701s.

SEC. 205. Section 101(1) of the Housing and Urban Development Act of 1965 is amended— (1) by striking out "may" the first time it appears in the first sentence and inserting in lieu thereof "shall, not later than 4 years after the date of enactment of the Housing and Community Development Act of 1980,"; (2) by inserting the following new sentence after the first sentence thereof: "In amending such contracts, the Secretary shall provide that the housing with respect to which payments are made under this section be maintained as low- and moderateincome housing during the term of the original contract."; and (3) by striking out "preceding" in the second sentence and inserting in lieu thereof "the first sentence of this paragraph". SECTION 235 STANDARD PROGRAM

12 USC 1715z.

Mortgage insurance.

SEC. 206. (a) Section 235 of the National Housing Act is amended— (1) by striking out "$32,000", "$38,000", "$38,000", and "$44,000" in the last proviso in subsection (h){2) and inserting in lieu thereof "$40,000", "$47,500", and "$47,500", and "$55,000", respectively; (2) by striking out "$32,000", "$38,000", "$38,000", and "$44,000", wherever they appear in subsections (i)(3)(B) and (i)(3)(C), and inserting in lieu thereof "$40,000", "$47,500", "$47,500", and "$55,000", respectively; (3) by striking out "$44,000", and "$49,000" in subsection (i)(3)(D) and inserting in lieu thereof "$55,000", and "$61,250", respectively; (4) by adding at the end thereof the following new subsection: "(p) The Secretary may insure a mortgage under this section involving a principal obligation which exceeds, by not more than 10 per centum, the maximum limits specified under subsection (b)(2) or (i)(3) of this section, or, if applicable, the maximum principal obligation insurable pursuant to subsection (o) of this section, if the mortgage relates to a dwelling to be occupied by a physically handicapped person and the Secretary determines that such action is necessary to reflect the cost of making such dwelling accessible to and usable by such person,". 03)(1) Subsection (c) of such section is amended— (A) by inserting "(1)" after "(c)"; (B) by redesignating paragraphs (1) and (2) of such subsection as subparagraphs (A) and (B), respectively; and (C) by adding the following new paragraph at the end of such subsection: "(2)(A) Upon disposition by the homeowner of any property assisted pursuant to this section or where the homeowner ceases for a period of 90 continuous days or more making payments required under the mortgage, loan, or advance of credit secured by such a property, or rents such a property (or the owner's unit in the case of a two- to fourfamily property) for a period longer than one year, the Secretary shall provide for the recapture of an amount equal to the lesser of (i) the amount of assistance actually received under this section, other than any amount provided under subsection (e), or (ii) an amount

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