INCENTIVES TO EXTEND LOW INCOME USE.

SEC. 1023. INCENTIVES TO EXTEND LOW INCOME USE. Section 224(b) of the Housing and Community Development Act of 1987 (12 U.S.C. 17151 note) is amended in the matter preceding paragraph (1) by striking “Such agreements” and inserting the following: “Agreements entered into under subsection (a) that by modifications to the existing regulatory agreement or mortgage extend the low income affordability restrictions through the term of the mortgage or, in the case of the prepayment of a mortgage, by a recorded instrument impose low income affordability restrictions (including the obligations specified in the regulatory agreement) through a period equivalent to the term of the original mortgage”.