mutual and self-help housing

mutual and self-help housing Sec. 512. (a) Section 523(b)(1) of the Housing Act of 1949 is amended by inserting immediately before “; and” at the end thereof the following: “: Provided, That the Secretary may advance funds under this paragraph to organizations receiving assistance under clause (A) to enable them to establish revolving accounts for the purchase of land options and any such advances may bear interest at a rate determined by the Secretary and shall be repaid to the Secretary at the expiration of the period for which the grant to the organization involved was made”. (b) Section 523(f) of such Act is amended— (1) by striking out “1974” each place it appears and inserting in lieu thereof “1977”; and (2) by striking out “$5,000,000” and inserting in lieu thereof “$10,000,000”. (c) Section 523 of such Act is amended by adding at the end thereof the following new subsection: 88 Stat. 696 “(h) The Secretary shall issue rules and regulations for the orderly processing and review of applications under this section and rules and regulations protecting the rights of grantees under this section in the event he determines to end grant assistance prior to the termination date of any grant agreement.”.