Page:United States Statutes at Large Volume 97.djvu/1278

 97 STAT. 1246 PUBLIC LAW 98-181—NOV. 30, 1983 42 USC 1490a. Post, p. 1248. Income determination. 42 USC 1437 note. 42 USC 1485. "(n) The Secretary may not (1) deny assistance under this section on the basis that rental assistance payments under section 521 may be required unless the authority to provide such assistance is not available; or (2) promulgate any regulation that would have the effect of denying occupancy to eligible persons on the basis that such persons require rental assistance payments under section 521. "(o)(1) To the extent assistance is available under section 521(a)(2), not more than 25 per centum of the dwelling units which were available for occupancy under this section prior to the date of enactment of this subsection, and which will be leased on or after such effective date shall be available for leasing by low income persons and families other than very low-income persons and families. "(2) To the extent assistance is available under section 521(a)(2), not more than 5 per centum of the dwelling units which become available for occupancy under this section on or after the date of enactment of this subsection shall be available for leasing by low income persons and families other than very low-income persons and families. "(3) Units in projects financed under this section which become available for occupancy after the date of enactment of this subsec- tion shall not be available for occupancy by persons and families other than very low-income persons and families if the authority to provide assistance for such persons is available. "(p) In determining the income of a person or family occupying housing financed under this section, the Secretary shall consider the value of that person's or family's assets in the same manner as the Secretary of Housing and Urban Development considers such value for the purpose of the United States Housing Act of 1937.", (b) Section 515(b) of such Act is amended— (1) by striking out "and" at the end of clause (5); (2) by striking out the period at the end of clause (6) and inserting in lieu thereof "; and"; and (3) by adding at the end thereof the following: "(7) loans may be made to owners who are otherwise eligible under this section to purchase and convert single-family resi- dences to rental units of two or more dwellings.". (c) Section 515 of such Act is amended— (1) by striking out subsection (a)(2); (2) by redesignating subsections (a)(3) and (a)(4) as subsections (a)(2) and (a)(3), respectively; (3) by striking out subsection (b)(2); and (4) by redesignating subsections (b)(3), (b)(4), (b)(5), (b)(6), and (b)(7) as subsections (b)(2), (b)(3), (b)(4), (b)(5), and (b)(6), respectively. (d) Section 515(c) of such Act is amended by adding at the end thereof the following: "A loan may be made or insured under subsection (a) or (b) with respect to detached units, including those on scattered sites, for cooperative housing.". (e) Section 515(d)(l) of such Act is amended by inserting before the first semicolon the following: ", and such term also means manufac- tured home rental parks where either the lots or both the lots and the homes are available for usc by occupants eligible under this section".

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