WHAT THE LAW DOINCongress, in plain words

The law › Title 42, The Public Health and Welfare › Chapter 8A

42 U.S.C. 1490a: Loans to provide occupant owned, rental, and cooperative housing for low and moderate income, elderly or handicapped persons or families

Created in 1968 by Public Law 90-448. Changed by 15 later laws. 1 new law this Congress changed it.

11 other sections of the Code cite this one, including 42 U.S.C. 1472, 42 U.S.C. 1479, 42 U.S.C. 1480, 42 U.S.C. 1483, 42 U.S.C. 1485.

This Congress

  • H.R. 6644 21st Century ROAD to Housing Act · became law · changed (d)

How it got here

2000

  • Pub. L. 106–569 substituted "Any tenant or unit assisted" for "Any project assisted" in last sentence. (American Homeownership and Economic Opportunity Act of 2000) Law text · (a)

1998

  • Pub. L. 105–276, §599C(e)(2)(D), inserted "or paragraph (5)" after "this paragraph" and substituted ". The budget (and the income, in the case of a project assisted under this paragraph) shall be used to determine the amount of the assistance for each project." for "which shall b… (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999) Law text · (a)
  • Pub. L. 105–276, §599C(e)(1), added par. (5). (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999) Law text · (a)
  • Pub. L. 105–276, §599C(e)(2)(E), substituted "subsections (a)(2) and (a)(5)" for "subsection (a)(2)". (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999) Law text · (c)
  • Pub. L. 105–276, §599C(e)(2)(F), inserted "or any tenant in a project assisted under subsection (a)(5)" after "recipient". (Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999) Law text · (e)

1992

  • Pub. L. 102–550 designated existing provisions as cl. (i) and added cl. (ii). · (a)

1990

  • Pub. L. 101–625 inserted at end "Notwithstanding the preceding sentence, excess funds received from tenants in projects financed under section 1485 of this title during a fiscal year shall be available during the next succeeding fiscal year, together with funds provided under sub… · (a)

1988

  • Pub. L. 100–242, §316(d)(1), struck out before period at end ", except that such loans to provide housing and related facilities for persons or families of moderate income shall bear interest at the rate established by the Secretary of Housing and Urban Development under section … · (a)
  • Pub. L. 100–242, §309, inserted at end "In the case of assistance provided under this subparagraph with respect to a loan under section 1472 of this title, the Secretary may not reduce, cancel, or refuse to renew the assistance due to an increase in the adjusted income of the bor… · (a)
  • Pub. L. 100–242, §316(d)(2), substituted comma for semicolon at end of cl. (ii). · (a)

1984

  • Pub. L. 98–479 in amending par. (1) generally, inserted provisions preceding subpar. (A), in subpar. (A) substituted provisions authorizing Secretary to make assistance available in existing projects for former provisions which required Secretary to first assure that expiring contra… · (d)

1983

  • Pub. L. 98–181, §517(c), substituted provisions setting forth factors applicable to determination of maximum amount, for provisions setting forth maximum amount as 25 per centum of income, and inserted provisions relating to limitations on increases of any rent or contribution of… · (a)
  • Pub. L. 98–181, §517(a), struck out provisions requiring assistance payments to be made on a unit basis and maximum amount of such payments, and provisions respecting priority for approval of projects under this paragraph. · (a)
  • Pub. L. 98–181, §516, added subpar. (E). · (a)
  • Pub. L. 98–181, §517(b), added pars. (3) and (4). · (a), (4)
  • Pub. L. 98–181, §517(e), added subsecs. (d) and (e). · (d), (e)

1981

  • Pub. L. 97–35, §352, substituted "may provide" for "shall provide". · (a)
  • Pub. L. 97–35, §351(d), substituted "$398,000,000" for "$493,000,000", and substituted provisions relating to fiscal year ending Sept. 30, 1982, for provisions relating to fiscal year ending Sept. 30, 1981. · (a)

1980

  • Pub. L. 96–399, §505, substituted "the Secretary shall provide" for "the Secretary may provide". · (a)
  • Pub. L. 96–399, §501(f), substituted provisions limiting the amount of additional assistance which may be approved to $100,000,000, for provisions limiting such amounts to $985,000,000 for contracts entered into with respect to fiscal year 1979 and $500,000,000 for contracts ente… · (a)
  • Pub. L. 96–372 substituted "through October 15, 1980" for "with respect to fiscal year 1980" and in last sentence "after October 15, 1980" for "with respect to any fiscal year after fiscal year 1980". · (a)
  • Pub. L. 96–399, §501(e), added subpar. (D). · (a)

1979

  • Pub. L. 96–153, §502(a), inserted exception that loans to provide housing and related facilities for persons or families of moderate income shall bear interest at the rate established by the Secretary under certain provisions of title 12. · (a)
  • Pub. L. 96–153, §501(c)(1), inserted provisions that the amount of such additional assistance which may be approved in appropriation acts may not exceed an aggregate amount of $985,000,000 for contracts entered into with respect to fiscal year 1979 and an aggregate amount of $500… · (a)
  • Pub. L. 96–153, §501(c)(3), repealed subpar. (H) which provided that the aggregate principal amount of loans made to borrowers receiving assistance pursuant to subpar. (C) shall not exceed $440,000,000. · (a)
  • Pub. L. 96–153, §504, substituted "assistance payments to the owners of" for "assistance payments to public and private nonprofit owners of", "70 per centum" for "20 per centum" in two places, "by a loan under section 1484 of this title to a public or private nonprofit owner" for… · (a)
  • Pub. L. 96–153, §501(c)(2), inserted authorization of appropriation to Rural Housing Insurance Fund of such sums as may be necessary to reimburse fund for amount of assistance payments under subsec. (a)(1)(C) of this section. · (c)

1978

  • Pub. L. 95–557, §506(a), designated existing provisions as par. (1)(A), and in par. (1)(A) as so designated, struck out "less not to exceed the difference between the adjusted rate determined by the Secretary of the Treasury and 1 per cent per annum: Provided, That such a … · (a)
  • Pub. L. 95–557, §507, substituted "public and private nonprofit owners" for "the owners", inserted "congregate, or cooperative" after "rental" and inserted "by a loan under section 1484 of this title" after "section 1485 of this title for elderly or handicapped housing". · (a)

1977

  • Pub. L. 95–128, §§502(d), 507(a)(4), provided that any loan guaranteed under this subchapter shall bear interest at the rate as may be agreed upon by the borrower and the lender and provided loans for housing of handicapped persons or families. · (a)
  • Pub. L. 95–128, §§507(a)(5), 511, included handicapped housing in cl. (i) and substituted "shall" for "may" wherever appearing, except in cl. (i). · (a)

1976

  • Pub. L. 94–375 substituted "rate determined by the Secretary of the Treasury upon the request of the Secretary" for "rate determined annually by the Secretary of the Treasury". · (a)

1974

  • Pub. L. 93–383, §§514(a), 516(c)(1), redesignated existing subsec. (a) as (a)(1) and, as so redesignated, substituted "loans under section 1485 of this title" for "and loans under section 1485 of this title" and inserted provisions relating to loans under section 1490f of this title… · (a)
  • Pub. L. 93–383, §514(a), added par. (2). · (a)
  • Pub. L. 93–383, §516(c)(2), inserted references to sections 1490f(a) and 1490f(c) of this title. · (b)
  • Pub. L. 93–383, §§514(b), 516(c)(3), reorganized structure of subsec. (c) by designating existing provisions as cl. (1) and, as so designated, substituted reference to subsec. (a)(1) of this section for reference to subsec. (a) of this section, added cl. (2), and made former second cla… · (c)

Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.