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Code · U.S. Code · Title 12 - BANKS AND BANKING · CHAPTER 42— LOW-INCOME HOUSING PRESERVATION AND RESIDENT HOMEOWNERSHIP · SUBCHAPTER I— PREPAYMENT OF MORTGAGES INSURED UNDER NATIONAL HOUSING ACT · § 4117

§ 4117. Delegated responsibility to State agencies

473 words·~2 min read·/usc/title-12/section-4117

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)In general In addition to any responsibilities delegated under section 4103(c) of this title, the Secretary shall delegate some or all responsibility for implementing this subchapter to a State housing agency if such agency submits a preservation plan acceptable to the Secretary.
(b)Approval State preservation plans shall be submitted in such form and in accordance with such procedures as the Secretary shall establish. The Secretary may approve plans that contain—
(1)an inventory of low-income housing located within the State that is or will be eligible low-income housing under this subchapter within 5 years;
(2)a description of the agency’s experience in the area of multifamily financing and restructuring;
(3)a description of the administrative resources that the agency will commit to the processing of plans of action in accordance with this subchapter;
(4)a description of the administrative resources that the agency will commit to the monitoring of approved plans of action in accordance with this subchapter;
(5)an independent analysis of the performance of the multifamily housing inventory financed or otherwise monitored by the agency;
(6)a certification by the public official responsible for submitting the comprehensive housing affordability strategy under section 12705 of title 42 that the proposed activities are consistent with the approved housing strategy of the State within which the eligible low-income housing is located; and
(7)such other certifications or information that the Secretary determines to be necessary or appropriate to achieve the purposes of this subchapter.
(c)Implementation agreements The Secretary may enter into any agreements necessary to implement an approved State preservation plan, which may include incentives that are authorized under other provisions of this subchapter.
(Pub. L. 100–242, title II, § 227, as added Pub. L. 101–625, title VI, § 601(a), Nov. 28, 1990, 104 Stat. 4270.)
Connections4 cite this · traces to 4
5 references not yet in our index
  • Pub. L. 100–242, title II, § 227
  • Pub. L. 101–625, title VI, § 601(a)
  • 104 Stat. 4270
  • Pub. L. 102–550, title III, § 315
  • 106 Stat. 3770
Citation graph
cites case law
§ 4117
Delegated responsibility to State agencies
Stat.×2
Stat. Comp.×1
U.S.C.×1
Pub. L.Pub. L. 100–242, title II, § 227
Pub. L.Pub. L. 101–625, title VI, § 601(a)
Stat.104 Stat. 4270
Pub. L.Pub. L. 102–550, title III, § 315
Stat.106 Stat. 3770
Cites 9Cited by 4 across 3 sources
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