Page:United States Statutes at Large Volume 94 Part 2.djvu/390

 94 STAT. 1668 42 USC 1490e. Ante, p. 1364.

Ante, p. 1364. Ante, p. 1365.

Appropriation authorization.

Rental assistance contracts. 42 USC 1490a.

Ante, p. 1364.

PUBLIC LAW 96-399—OCT. 8, 1980

section 525(a), of which not less than $1,000,000 shall be used for counseling purchasers and delinquent borrowers, for the fiscal year ending September 30, 1981". (b) Section 515(b)(5) of such Act is amended by striking out "October 15, 1980" and inserting in lieu thereof "September 30, 1981". (c) Section 517(a)(1) of such Act is amended by striking out "October 15, 1980" and inserting in lieu thereof "September 30, 1981". (d) Section 523 of such Act is amended— (1) by striking out "October 15, 1980" wherever it appears in subsection (f) and inserting in lieu thereof "September 30, 1981"; and (2) by striking out subsection (g) and inserting in lieu thereof the following: "(g) There are authorized to be appropriated for the purposes of subsection (b)(1)(B) not to exceed $2,500,000 for fiscal year 1981. Amounts appropriated under this subsection, together with principal collections from loans made under appropriations in any previous fiscal years, shall be deposited in the Self-Help Housing Land Development Fund, which shall be available as a revolving fund for making loans under subsection (b)(l)(B). Instruments and property acquired by the Secretary in or as a result of making such loans shall be assets of the Self-Help Land Development Fund.". (e) Section 521(a)(2) of such Act is amended by adding the following new subparagraph at the end thereof: "(D) The Secretary, to the extent approved in appropriation Acts, may enter into rental assistance contracts aggregating not more than $493,000,000 in carrying out subparagraph (A) with respect to the fiscal year ending on September 30, 1981, except that such amount shall be reduced by any amount approved in appropriation Acts for use pursuant to section 521(a)(1)(C).. (f) Section 521(a)(1)(C) of such Act is amended— (1) by striking out the second sentence thereof and inserting in lieu thereof the following: "The amount of such additional assistance which may be approved in appropriation Acts may not exceed an aggregate amount of $100,000,000."; and (2) by striking out "after October 15, 1980" in the third sentence and inserting in lieu thereof "with respect to any fiscal year beginning on or after October 1, 1981". REFINANCING FOR CONSUMER COOPERATIVE

42 USC 1485.

42 USC 1490a.

SEC. 502. Section 515 of the Housing Act of 1949 is amended by adding at the end thereof the following: "(f) Notwithstanding the provisions of subsections (a) and (b) of this section, the Secretary may make and insure loans to consumer cooperatives to enable such cooperatives to finance the transfers of memberships in the cooperatives upon such terms and conditions as low- and moderate-income persons can reasonably afford, except that such loans shall not be made upon terms more favorable than are authorized under section 521(a), and that the total loan to a cooperative under this section shall not exceed the value of the property.". CONTINUED ELIGIBILITY OF CO-OP MEMBERS

42 USC 1485.

SEC. 503. (a) Section 515(a) of the Housing Act of 1949 is amended— (1) by striking out "and" at the end of paragraph (2); (2) by striking out the period at the end of paragraph (3) and inserting in lieu thereof "; and"; and

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