rent supplement program

rent supplement program Sec. 202. (a) Section 101(a) of the Housing and Urban Development Act of 1965 is amended by striking out everything after the word “exceed” the second time the word appears in the third sentence and inserting in lieu thereof the following: “$150,000,000 per annum prior to July 1, 1969, which maximum dollar amount shall be increased by $40,000,000, on July 1, 1969, and by $100,000,000 on July 1, 1970.” (b) Section 101(b) of such Act is amended by inserting after the first sentence the following: “Such term also includes a private non-profit corporation or other private nonprofit legal entity, a limited dividend corporation or other limited dividend legal entity, or a cooperative housing corporation, which is the owner of a rental or cooperative housing project financed under a State or local program providing assistance through loans, loan insurance, or tax abatement and which prior to completion of construction or rehabilitation is approved for receiving the benefits of this section.”