Sec. 232.
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Subsection
(b)of section 225 of the Cranston-Gonzalez National Affordable Housing Act ( 42 U.S.C. 12755 ) is amended by inserting at the end the following sentence: Such 30 day waiting period is not required if the grounds for the termination or refusal to renew involve a direct threat to the safety of the tenants or employees of the housing, or an imminent and serious threat to the property (and the termination or refusal to renew is in accordance with the requirements of State or local law). . Section 231 of the Cranston-Gonzalez National Affordable Housing Act ( 42 U.S.C. 12771 ) is amended— in subsection
(b)by striking make such funds available by direct reallocation and all that follows through were recaptured and inserting reallocate the funds by formula in accordance with section 217(d) of this Act (42 U.S.C. 12747(d)) ; and by striking subsection (c).
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