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12 U.S.C. § 1701h — Purpose of subchapter; authorization; terms and conditions; expiration of insurance contract
Federal law — U.S. Code and appendices · legal_authorities
The purpose of this subchapter is to supplement the existing systems of mortgage insurance for rental housing under this chapter by a special system of insurance designed to encourage equity investment in rental housing at rents within the capacity of families of moderate income. To effectuate this purpose, the Secretary is authorized, upon application by the investor, to insure as hereinafter provided, and, prior to the execution of insurance contracts and upon such terms as the Secretary shall prescribe, to make commitments to insure, the minimum annual amortization charge and an annual return on the outstanding investment of such investor in any project which is eligible for insurance as hereinafter provided in an amount (herein called the “insured annual return”) equal to such rate of return, not exceeding 2¾ per centum per annum, on such outstanding investment as shall, after consultation with the Secretary of the Treasury, be fixed in the insurance contract or in the commitment to insure: Provided, That any insurance contract made pursuant to this subchapter shall expire as of the first day of the operating year for which the outstanding investment amounts to not more than 10 per centum of the established investment.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1701h
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Stable record: federal_law:legal_authorities:record_usc_d044425254d92e28028282a5
Source file: Laws/federal/codes/united-states-code/title-12/section-1701h-purpose-of-subchapter-authorization-terms-and-conditions-expiration-of-i--12f42b0fc8.md
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Source location: Title 12, Chapter 13, § 1701h; chapter-013-national-housing.md
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The purpose of this subchapter is to supplement the existing systems of mortgage insurance for rental housing under this chapter by a special system of insurance designed to encourage equity investment in rental housing at rents within the capacity of families of moderate income. To effectuate this purpose, the Secretary is authorized, upon application by the investor, to insure as hereinafter provided, and, prior to the execution of insurance contracts and upon such terms as the Secretary shall prescribe, to make commitments to insure, the minimum annual amortization charge and an annual return on the outstanding investment of such investor in any project which is eligible for insurance as hereinafter provided in an amount (herein called the “insured annual return”) equal to such rate of return, not exceeding 2¾ per centum per annum, on such outstanding investment as shall, after consultation with the Secretary of the Treasury, be fixed in the insurance contract or in the commitment to insure: Provided, That any insurance contract made pursuant to this subchapter shall expire as of the first day of the operating year for which the outstanding investment amounts to not more than 10 per centum of the established investment.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary is authorized to make—
(1) planning grants to help applicants to develop homeownership programs in accordance with this subchapter; and
(2) implementation grants to carry out homeownership programs in accordance with this subchapter.
**(b) Authority to reserve housing assistance** In connection with a grant under this subchapter, the Secretary may reserve authority to provide assistance under [section 1437f of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1437f&num=0&edition=prelim) to the extent necessary to provide replacement housing and rental assistance for a nonpurchasing tenant who resides in the project on the date the Secretary approves the application for an implementation grant, for use by the tenant in another project.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1404a
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Federal law — U.S. Code and appendices · legal_authorities
The Secretary of Housing and Urban Development shall establish, in accordance with the provisions of [section 1701h of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701h&num=0&edition=prelim), an advisory committee on matters relating to housing for elderly persons.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1709a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Criteria** The Secretary is authorized to provide fellowships for the graduate training of professional city planning, management, and housing specialists, and other persons who wish to develop a general capacity in urban affairs and problems as herein provided. Persons shall be selected for such fellowships solely on the basis of ability and upon the recommendation of the Urban Studies Fellowship Advisory Board established pursuant to subsection (b). Fellowships shall be solely for training in public and private nonprofit institutions of higher education having programs of graduate study in the field of city planning or in related fields (including architecture, civil engineering, economics, municipal finance, public administration, urban affairs, and sociology) which programs are oriented to training for careers in city and regional planning, housing, urban renewal, and community development.
**(b) Urban Studies Fellowship Board** There is hereby established the Urban Studies Fellowship Advisory Board (hereinafter referred to as the “Board”), which shall consist of nine members to be appointed by the Secretary as follows: Three from public institutions of higher learning and three from private nonprofit institutions of higher education, who are the heads of departments which provide academic courses appropriately related to the fields referred to in subsection (a), and three from national organizations which are directly concerned with problems relating to urban, regional, and community development. The Board shall meet upon the request of the Secretary and shall make recommendations to him with respect to persons to be selected for fellowships under this section. Members of the Board shall be entitled to receive transportation expenses and a per diem in lieu o
Source: Supplied U.S. Code snapshot — release unconfirmed · 20 U.S.C. § 802
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Federal law — U.S. Code and appendices · legal_authorities
Page 436
TITLE 12—BANKS AND BANKING
§ 1701h
Editorial Notes
REFERENCES IN TEXT
Section 289(c) of the Cranston-Gonzalez National Af-
fordable Housing Act (Pub. L. 101–625), referred to in
text, is not classified to the Code.
Section 1452b of title 42, referred to in text, was re-
pealed by Pub. L. 101–625, title II, § 289(b), Nov. 28, 1990,
104 Stat. 4128.
The Independent Offices Appropriation Act, 1955, as
amended, referred to in text, is act June 24, 1954, ch.
359, 68 Stat. 272. Provisions of title II of this Act relat-
ing to the establishment of the revolving fund (liqui-
dating programs) are classified to section 1701g–5 of
this title. For complete classification of this Act to the
Code, see Tables.
CODIFICATION
Section was enacted as part of the Departments of
Veterans Affairs and Housing and Urban Development,
and Independent Agencies Appropriations Act, 1992, and
not as part of the National Housing Act which com-
prises this chapter.
§ 1701h. Advisory committees; payment of trans-
portation and other expenses
The Secretary of Housing and Urban Develop-
ment is authorized to establish such advisory
committee or committees as he may deem nec-
essary in carrying out any of his functions, pow-
ers, and duties under this or any other Act or
authorization. Persons serving without com-
pensation as members of any such committee
may be paid transportation expenses and not to
exceed $25 per diem in lieu of subsistence, as au-
thorized by section 5703 of title 5.
(July 15, 1949, ch. 338, title VI, § 601, 63 Stat. 439;
Aug. 2, 1954, ch. 649, title VIII, § 807, 68 Stat. 645;
Pub. L. 89–117, title XI, § 1106, Aug. 10, 1965, 79
Stat. 503; Pub. L. 90–19, § 6(h), May 25, 1967, 81
Stat. 22; Pub. L. 98–479, title II, § 202(c), Oct. 17,
1984, 98 Stat. 22
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1701h
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