Page:United States Statutes at Large Volume 97.djvu/1222

 97 STAT. 1190 PUBLIC LAW 98-181—NOV. 30, 1983 12 USC 1701q note. 12 USC ITOlq. Efficiency units. Per unit cost limitations. Prepayme nt and transfer. (2) The amendment made by paragraph (1) shall apply only with respect to loan agreements entered into after September 30, 1982, and prior to October 1, 1984. (b) Section 202(a)(4)(B)(i) of such Act is amended— (1) by striking out "and" after "1980," in the first sentence; and (2) by inserting ", to $6,400,000,000 on October 1, 1983, and to such sum as may be approved in an appropriation Act on October 1, 1985," after "1981". (c) Section 202(a)(4)(C) of such Act is amended by striking out "$850,848,000" and "1982" in the second sentence and inserting in lieu thereof "$666,400,000" and "1984", respectively. (d) Section 202(h) of such Act is amended— (1) by striking out "1978" and inserting in lieu thereof "1983"; (2) by inserting before the period at the end of the first sentence the following: ", and persons described in subpara- graphs (B) and (C) of subsection (d)(4) who have been released from residential health treatment facilities"; (3] in paragraph (1), by striking out "handicapped persons" and'inserting in lieu thereof "persons dpscribed in the first sentence of this subsection"; (4) in paragraph (2), by striking out "handicapped persons" and inserting in lieu thereof "persons described in the first sentence of this subsection who are"; (5) in paragraph (1), by striking out "and" at the end thereof; (6) in paragraph (2), by striking out the period at the end thereof and inserting in lieu thereof "; and". (e) Section 202 of such Act is amended by adding at the end thereof the following new subsections: "(i)(1) Unless otherwise requested by the sponsor, a maximum of 25 per centum of the units in a project financed under this section may be efficiency units, subject to a determination by the Secretary that such units are appropriate for the elderly or handicapped population residing in the vicinity of such project or to be served by such project. "(2) The Secretary may require a sponsor of a housing project financed with a loan under this section to deposit an amount not to exceed $10,000 in a special escrow account to assure the commit- ment and long-term management capabilities of such sponsor. "(3) In establishing per unit cost limitations for purposes of this section, the Secretary shall take into account design features neces- sary to meet the needs of elderly and handicapped residents, and such limitations shall reflect the cost of providing such features. The Secretary shall adjust the per unit cost limitations in effect on January 1, 1983, not less than once annually to reflect changes in the general level of construction costs. "(j)(1) The Secretary may not approve the prepayment of any loan made under this section, or transfer such loan, unless such prepay- ment or transfer is made as part of a transaction that will ensure that the project involved will continue to operate until the original maturity date of such loan in a manner that will provide rental housing for the elderly and handicapped on terms at least as advantageous to existing and future tenants as the terms required by the original loan agreement entered into under this section and any other loan agreements entered into under other provisions of law.

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