Pub. L. 117-103, div. L, tit. II (as amended)

236.42 U.S.C. 1437f noteThe language under the heading “Rental Assistance Demonstration” in the Department of Housing and Urban Development Appropriations Act, 2012 (Public Law 112-55), as most recently amended by Public Law 115-141, is further amended—(1)after the seventeenth proviso, by inserting the following new proviso: Provided further, That conversions of assistance under the following provisos herein shall be considered as the ‘Second Component’ and shall be authorized for fiscal year 2012 and thereafter:;(2)by striking the nineteenth proviso, as reordered above, and inserting the following four provisos: Provided further, ThatRequirements.Vouchers.Contracts. owners of properties assisted under section 101 of the Housing and Urban Development Act of 1965, section 236(f)(2) of the National Housing Act, or section 8(e)(2) of the United States Housing Act of 1937, for which an event after October 1, 2006 has caused or results in the termination of rental assistance or affordability restrictions and the issuance of tenant protection vouchers under section 8(o) of the Act shall be eligible, subject to requirements established by the Secretary, for conversion of assistance available for such vouchers or assistance contracts to assistance under a long term project-based subsidy contract under section 8 of the Act: Provided further, ThatRequirements.Contracts. owners of properties with a project rental assistance contract under section 202(c)(2) of the Housing Act of 1959 shall be eligible, subject to requirements established by the Secretary, including but not limited to the subordination, restructuring, or both, of any capital advance documentation, including any note, mortgage, use agreement or other agreements, evidencing or securing a capital advance previously provided by the Secretary under section 202(c)(1) of the Housing Act of 1959 as necessary to facilitate the conversion of assistance while maintaining the affordability period and the designation of the property as serving elderly persons, and tenant consultation procedures, for conversion of assistance available 136 STAT. 764 for such assistance contracts to assistance under a long term project-based subsidy contract under section 8 of the Act: Provided further, ThatRequirements.Contracts. owners of properties with a project rental assistance contract under section 811(d)(2) of the Cranston-Gonzalez National Affordable Housing Act, shall be eligible, subject to requirements established by the Secretary, including but not limited to the subordination, restructuring, or both, of any capital advance documentation, including any note, mortgage, use agreement or other agreements, evidencing or securing a capital advance previously provided by the Secretary under section 811(d)(2) of the Cranston-Gonzalez National Affordable Housing Act as necessary to facilitate the conversion of assistance while maintaining the affordability period and the designation of the property as serving persons with disabilities, and tenant consultation procedures, for conversion of assistance contracts to assistance under a long term project-based subsidy contract under section 8 of the Act: Provided further, ThatContracts.Time period.Waiver authority. long term project-based subsidy contracts under section 8 of the Act which are established under this Second Component shall have a term of no less than 20 years, with rent adjustments only by an operating cost factor established by the Secretary, which shall be eligible for renewal under section 524 of the Multifamily Assisted Housing Reform and Affordability Act of 1997 (42 U.S.C. 1437f note), or, subject to agreement of the administering public housing agency, to assistance under section 8(o)(13) of the Act, to which the limitation under subsection (B) of section 8(o)(13) of the Act shall not apply and for which the Secretary may waive or alter the provisions of subparagraphs (C) and (D) of section 8(o)(13) of the Act:;(3)after the twenty-third proviso, as reordered above, by inserting the following new proviso: Provided further,Waiver authority.Contracts. That the Secretary may waive or alter the requirements of section 8(c)(1)(A) of the Act for contracts provided to properties converting assistance from section 202(c)(2) of the Housing Act of 1959 or section 811(d)(2) of the Cranston-Gonzalez National Affordable Housing Act as necessary to ensure the ongoing provision and coordination of services or to avoid a reduction in project subsidy:; and(4)in the twenty-ninth proviso, as reordered above, by—(A)striking heading ‘Housing for the Elderly’  and inserting headings ‘Housing for the Elderly’ and ‘Housing for Persons with Disabilities’ ; and(B)inserting or section 811 project rental assistance contract after section 202 project rental assistance contract.