ENERGY–CONSERVING IMPROVEMENTS FOR ASSISTED HOUSING.

SEC. 251. ENERGY–CONSERVING IMPROVEMENTS FOR ASSISTED HOUSING. (a) [Amends the United States Housing Act of 1937.] (b) Grants.—(1) The Secretary of Housing and Urban Development is authorized to make grants to finance energy conserving improvements (as defined in subparagraph (2) of the last paragraph of section 2(a) of the National Housing Act) to projects which are financed with loans under section 202 of the Housing Act of 1959, or which are subject to mortgages insured under section 221(d)(3) or section 236 of the National Housing Act. The Secretary shall make assistance available under this subsection on a priority basis to those projects which are in financial difficulty as a result of high energy costs. In carrying out the program authorized by this subsection, the Secretary shall issue regulations requiring that any grant made under this subsection shall be made only on the condition that the recipient of such grant shall take steps (prescribed by the Secretary) to assure that the benefits derived from such grants in terms of lower energy costs shall accrue to tenants in the form of lower operating subsidy if such a subsidy is being paid to such recipient. (2) The Secretary shall establish minimum standards for energy conserving improvements to multifamily dwelling units to be assisted under this subsection. (3) There are authorized to be appropriated to carry out the provisions of this subsection not to exceed $25,000,000. [42 U.S.C. 8231]