housing for the elderly or handicapped

housing for the elderly or handicapped Sec. 1001. Section 105(b) of the Housing and Urban Development Act of 1965 is amended— (1) by inserting “(1)” after “(b)”; (2) by striking out “Effective with respect to loans made on or after the date of the enactment of this Act, section” and inserting in lieu thereof “Section”; and (3) by adding at the end thereof a new paragraph as follows: “(2) The interest rate provided by the amendment made in paragraph (1) shall be applicable (A) with respect to any loan made on or after August 10, 1965, and (B) with respect to any loan made prior to such date if construction of the housing or related facilities to be assisted by such loan was not commenced prior to such date, and not completed prior to the filing of an application for the benefits of such interest rate.”