us/statute/42/1490a/a/2

Official source

(A) The Secretary shall make and insure loans under this section and sections 1484, 1485, and 1487 of this title to provide rental or cooperative housing and related facilities for persons and families of low income in multifamily housing projects, and shall make, and contract to make, assistance payments to the owners of such rental, congregate, or cooperative housing in order to make available to low-income occupants of such housing rentals at rates commensurate to income and not exceeding the highest of (i) 30 per centum of monthly adjusted income, (ii) 10 per centum of monthly income, or (iii) if the person or family is receiving payments for welfare assistance from a public agency, the portion of such payments which is specifically designated by such agency to meet the person’s or family’s housing costs. Any rent or contribution of any recipient shall not increase as a result of this section or any other provision of Federal law or regulation by more than 10 per centum during any twelve-month period, unless the increase above 10 per centum is attributable to increases in income which are unrelated to this subsection or other law or regulation.

(B) The owner of any project assisted under this paragraph or paragraph (5) shall be required to provide at least annually a budget of operating expenses and record of tenants’ income. The budget (and the income, in the case of a project assisted under this paragraph) shall be used to determine the amount of the assistance for each project.

(C) The project owner shall accumulate, safeguard, and periodically pay to the Secretary any rental charges collected in excess of basic rental charges as established by the Secretary in conformity with subparagraph (A). These funds may be credited to the appropriation and used by the Secretary for making such assistance payments through the end of the next fiscal year. Notwithstanding the preceding sentence, excess funds received from tenants in projects financed under section 1485 of this title during a fiscal year shall be available during the next succeeding fiscal year, together with funds provided under subparagraph (D), to the extent approved in appropriations Acts, to make assistance payments to reduce rent overburden on behalf of tenants of any such project whose rents exceed the levels referred to in subparagraph (A). In providing assistance to relieve rent overburden, the Secretary shall provide assistance with respect to very low-income and low-income families to reduce housing rentals to the levels specified in subparagraph (A).

(D) The Secretary, to the extent approved in appropriation Acts, may enter into rental assistance contracts aggregating not more than $398,000,000 in carrying out subparagraph (A) with respect to the fiscal year ending on September 30, 1982 .

(E) In order to assist elderly or handicapped persons or families who elect to live in a shared housing arrangement in which they benefit as a result of sharing the facilities of a dwelling with others in a manner that effectively and efficiently meets their housing needs and thereby reduces their cost of housing, the Secretary shall permit rental assistance to be used by such persons or families if the shared housing arrangement is in a single-family dwelling. For the purpose of this subparagraph, the Secretary shall prescribe minimum habitability standards to assure decent, safe, and sanitary housing for such families while taking into account the special circumstances of shared housing.

Official source

- name: maximum_share_of_assisted_units_occupied_by_low_income_not_very_low_income kind: parameter dtype: Rate source: 42 USC 1490a(d) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/42/1490a/d excerpt: not more than 5 percent of the units assisted versions: - effective_from: '1961-01-01' formula: '0.05'

- name: existing_project_contract_assistance_must_be_made_available kind: derived entity: Project dtype: Judgment period: Month source: 42 USC 1490a(d) metadata: proof: atoms: - path: versions[0].formula kind: condition source: corpus_citation_path: us/statute/42/1490a/d versions: - effective_from: '1961-01-01' formula: >- project_is_existing and unit_occupied_by_low_income_family_or_person and (assistance_extends_expiring_contracts or assistance_provides_additional_assistance_necessary_for_full_amount_authorized_pursuant_to_existing_contracts)

- name: low_income_not_very_low_income_assisted_unit_share_within_limit kind: derived entity: Project dtype: Judgment period: Month source: 42 USC 1490a(d) metadata: proof: atoms: - path: versions[0].formula kind: formula source: corpus_citation_path: us/statute/42/1490a/d excerpt: >- not more than 5 percent of the units assisted may be occupied by low income families or persons who are not very low-income versions: - effective_from: '1961-01-01' formula: >- share_of_assisted_units_occupied_by_low_income_families_or_persons_who_are_not_very_low_income <= maximum_share_of_assisted_units_occupied_by_low_income_not_very_low_income

- name: rental_assistance_contract_authority_transfer_required kind: derived entity: Project dtype: Judgment period: Month source: 42 USC 1490a(d) metadata: proof: atoms: - path: versions[0].formula kind: condition source: corpus_citation_path: us/statute/42/1490a/d versions: - effective_from: '1961-01-01' formula: |- rental_assistance_contract_authority_unused_after_initial_rentup and rental_assistance_contract_authority_not_needed_because_lack_of_eligible_tenants_in_area and other_project_needs_rental_assistance_contract_authority