CONTRACTS FOR EXISTING DWELLING UNITS

SEC. 141. SECTION 8 CONTRACTS FOR EXISTING DWELLING UNITS Section 8(b)(1) of the United States Housing Act of 1937 is amended by inserting after the first sentence the following new sentence: “The Secretary shall enter into a separate annual contributions contract with each public housing agency to obligate the authority approved each year, beginning with the authority approved in appropriations Acts for fiscal year 1988 (other than amendment authority to increase assistance payments being made using authority approved prior to the appropriations Acts for fiscal year 1988), and such annual contributions contract (other than for annual contributions under subsection (o)) shall bind the Secretary to make such authority, and any amendments increasing such 101 STAT. 1850authority, available to the public housing agency for a specified period.”.