12 U.S.C. § 4117 — Delegated responsibility to State agencies
submitted 36 years ago by Pub. L. 100-242 to r/title-12-BANKS-AND-BANKING · 277 words · no verdicts yet
The Secretary may delegate implementation responsibilities to a State housing agency with an acceptable preservation plan. The section lists plan contents and permits implementation agreements, including authorized incentives.
(a) In addition to section 4103(c) delegations, the Secretary* must delegate some or all responsibility for implementing this subchapter to a State* housing agency that submits a preservation plan acceptable to the Secretary. (b) Plans must use the form and procedures the Secretary sets. The Secretary may approve a plan containing (1) an inventory of State low-income housing that is or will be eligible within five years; (2) the agency’s multifamily-financing and restructuring experience; (3) administrative resources for processing plans of action; (4) resources for monitoring approved plans; (5) an independent analysis of the performance of the agency’s financed or monitored multifamily inventory; (6) certification by the official responsible for the section 12705 comprehensive housing affordability strategy that activities match the State’s approved strategy; and (7) other certifications or information the Secretary finds necessary or appropriate. (c) The Secretary may make agreements needed to implement an approved plan, including incentives authorized elsewhere in this subchapter.
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.
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—
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;
a description of the agency’s experience in the area of multifamily financing and restructuring;
a description of the administrative resources that the agency will commit to the processing of plans of action in accordance with this subchapter;
a description of the administrative resources that the agency will commit to the monitoring of approved plans of action in accordance with this subchapter;
an independent analysis of the performance of the multifamily housing inventory financed or otherwise monitored by the agency;
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
such other certifications or information that the Secretary determines to be necessary or appropriate to achieve the purposes of this subchapter.
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.
Source credit: (Pub. L. 100–242, title II, § 227, as added Pub. L. 101–625, title VI, § 601(a), Nov. 28, 1990, 104 Stat. 4270.)
- 1990Enacted · Pub. L. 100-242 · 104 Stat. 4270
A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-242 on 1990-11-28.
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