Page:United States Statutes at Large Volume 99 Part 1.djvu/933

 PUBLIC LAW 99-160—NOV. 25, 1985

99 STAT. 911

RENTAL HOUSING ASSISTANCE (RESCISSION)

The limitation otherwise appHcable to the maximum payments that may be required in any fiscal year by all contracts entered into under section 236 of the National Housing Act (12 U.S.C. 1715z-l) is reduced in fiscal year 1986 by not more than $2,000,000 in uncommitted balances of authorizations provided for this purpose in appropriation Acts. HOUSING FOR THE ELDERLY OR HANDICAPPED FUND

In 1986, $631,033,000 of direct loan obligations may be made under section 202 of the Housing Act of 1959, as amended (12 U.S.C. ITOlq), utilizing the resources of the fund authorized by subsection (a)(4) of such section, in accordance with paragraph (C) of such subsection: Provided, That such commitments shall be available only to qualified nonprofit sponsors for the purpose of providing 100 per centum loans for the development of housing for the elderly or handicapped, with any cash equity or other financial commitments imposed as a condition of loan approval to be returned to the sponsor if sustaining occupancy is achieved in a reasonable period of time: Provided further. That the full amount shall be available for permanent financing (including construction financing) for housing projects for the elderly or handicapped: Provided further, That the Secretary may borrow from the Secretary of the Treasury in such amounts as are necessary to provide the loans authorized herein: Provided further. That, notwithstanding any other provision of law, the receipts and disbursements of the aforesaid fund shall be included in the totals of the Budget of the United States Government: Provided further. That, notwithstanding section 202(a)(3) of the Housing Act of 1959, loans made in fiscal year 1986 shall bear an interest rate 12 USC iTOiq which does not exceed 9.25 per centum, including the allowance note. adequate in the judgment of the Secretary to cover administrative costs and probable losses under the program. CONGREGATE SERVICES

For contracts with and payments to public housing agencies and nonprofit corporations for congregate services programs in accordance with the provisions of the Congregate Housing Services Act of 1978, $2,700,000, to remain available until September 30, 1987. 42 USC 8001 note. PAYMENTS FOR OPERATION OF LOW-INCOME HOUSING PROJECTS

For payments to public housing agencies and Indian housing authorities for operating subsidies for low-income housing projecte as authorized by section 9 of the United States Housing Act of 1937, as amended (42 U.S.C. 1437g), $1,210,600,000, to remain available for obligation in accordance with section 9(a), notwithstanding section 9(d), of such Act until September 30, 1987. HOUSING COUNSELING ASSISTANCE

For contracts, grants, and other assistance, not otherwise provided for, for providing counseling and advice to tenants and homeowners—both current and prospective—with respect to property

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