Page:United States Statutes at Large Volume 96 Part 2.djvu/546

 96 STAT. 1908

PUBLIC LAW 97-377—DEC. 21, 1982

presents to the Appropriations Committees, an analysis of the impact of the maximum total development cost regulation, published September 8, 1982 in the Federal Register, amending 24 CFR 804, 805 and 841, upon the ability of local public housing authorities to develop the units in the pipeline in a timely fashion. HOUSING FOR THE ELDERLY OR HANDICAPPED F U N D

Ante, p. 1160.

For an additional amount for direct loan obligations for "Housing for the Elderly or Handicapped Fund" under section 202 of the Housing Act of 1959, as amended, (12 U.S.C. 1701q), $181,200,000: Provided, That title I of the Department of Housing and Urban Development-Independent Agencies Appropriations Act, 1983 (Public Law 97-272) is amended by striking out the period at the end of the paragraph under the heading "Housing for the Elderly or Handicapped Fund", and inserting in lieu thereof the following: Provided further. That notwithstanding section 202(a)(3) of such Act, loans made in fiscal year 1983 shall bear an interest rate which does not exceed 9.25 per centum, including the allowance adequate in the judgment of the Secretary to cover administrative costs and probable losses under the program.". RENT SUPPLEMENT (RESCISSION)

The limitation otherwise applicable to the maximum payments that may be required in any fiscal year by all contracts entered into under section 101 of the Housing and Urban Development Act of 1965 (12 U.S.C. 1701s), is reduced in fiscal year 1983 by not more than $105,160,000 in uncommitted balances of authorizations provided for this purpose in appropriation Acts. FEDERAL HOUSING ADMINISTRATION F U N D

12 USC 1713, 1715/'iVi^l^' 1715y. ^' 12 USC 1720.

For an additional amount for commitments to guarantee loans to carry out the purposes of the National Housing Act, as amended, $6,100,000,000: Provided, That section 207(c)(3), the second proviso of section 213(b)(2), section 220(d)(3)(B)(iii), section 221(d)(3)(ii), section 221(d)(4)(ii), section 231(c)(2) and section 234(e)(3) of the National Housing Act are each amended by inserting "(by not to exceed 140 P®'' centum where the Secretary determines that a mortgage other than one purchased or to be purchased under section 305 of this Act '^y ^^6 Government National Mortgage Association in implementing its special assistance functions is involved)" after "90 per centum'. GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SPECIAL A S S I S T A N C E FUNCTIONS F U N D

During 1983, within the resources and authority available, gross obligations for the principal amounts of direct loans made pursuant to section 305 of the National Housing Act, as amended (12 U.S.C. 1720), shall not exceed $500,000,000, which may be financed with collections received in 1983, and additional obligations are authorized in such amounts as are necessary for increases to prior year commitments.

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