RURAL HOUSING INVENTORY.

SEC. 710. RURAL HOUSING INVENTORY. (a) Transfer for Use Under Section 514.—Section 510(e)(3) of the Housing Act of 1949 (42 U.S.C. 1480(e)(3)) is amended by inserting after “fifty years” the following: “, or for use as rented units under section 514 with mortgages containing repayment terms with up to 33 years,”. (b) Transfer to For-Profit Entities.—Section 510(e) of the Housing Act of 1949 is further amended by striking “or public bodies” and inserting “, public bodies, or for-profit entities, which have good records of providing low income housing under section 515”.