Sec. 237.
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The matter under the heading Rental Assistance Demonstration in the Department of Housing and Urban Development Appropriations Act, 2012 ( 42 U.S.C. 1437f note), as amended, is amended— in the 14th proviso— by inserting or nonprofit before entity, then a capable entity, ; and by striking preserves its interest and inserting or a nonprofit entity preserves an interest ; by striking the 18th proviso and inserting the following: ; Provided further, That for fiscal year 2012 and hereafter, owners of properties assisted or previously 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 a contract expires or terminates due to prepayment on or after October 1, 2006, has caused or results in the termination of rental assistance or affordability restrictions or both and the issuance of tenant protection vouchers under section 8(o) or section 8(t) of the Act, or with a project rental assistance contract under section 202(c)(2) of Housing Act of 1959, shall be eligible, subject to requirements established by the Secretary, including but not limited to tenant consultation procedures, for conversion of assistance available or provided for such vouchers or assistance contracts, to assistance under a long-term project-based subsidy contract under section 8 of the Act, which shall have a term of no less than 20 years, which shall have initial rents set at comparable market rents for the market area, with subsequent rent adjustments only by an operating cost factor established by the Secretary, and 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 subparagraph
(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 ( Second Component herein): by inserting before the 19th proviso the following: ; Provided further, That conversions of assistance under the Second Component may not be the basis for re-screening or termination of assistance or eviction of any tenant family in a property participating in the demonstration: in the 20th proviso, as so reordered by the amendments made by the preceding provisions of this section, by striking previous proviso and all that follows through the end of the proviso and inserting Second Component, except for conversion of section 202 project rental assistance contracts, shall be available for project-based subsidy contracts entered into pursuant to the Second Component: ; in the 21st proviso, as so reordered by the amendments made by the preceding provisions of this section, by striking previous two provisos and inserting Second Component, except for conversion of section 202 project rental assistance contracts, ; in the 22nd proviso, as so reordered by the amendments made by the preceding provisions of this section, by striking three previous provisos and inserting Second Component, except for conversion of section 202 project rental assistance contracts, ; by inserting before the last proviso the following: ; and Provided further, That the Secretary may transfer amounts made available under the heading Housing for the Elderly to the accounts under the headings Project-Based Rental Assistance or Tenant-Based Rental Assistance to facilitate any section 202 project rental assistance contract conversions under the Second Component, and any increase in cost for Project-Based Rental Assistance or Tenant-Based Rental Assistance associated with such conversion shall be equal to amounts so transferred: in the last proviso, by striking previous four provisos and inserting Second Component, as applicable .
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