12 U.S. Code § 1747c - Rent schedules

The Secretary shall require that the rents for the dwellings in any project insured under this subchapter shall be established in accordance with a rent schedule approved by the Secretary, and that the investor shall not charge or collect rents for any dwellings in the project in excess of the appropriate rents therefor as shown in the latest rent schedule approved pursuant to this section. Prior to approving the initial or any subsequent rent schedule pursuant to this section, the Secretary shall find that such schedule affords reasonable assurance that the rents to be established thereunder are
(1) not lower than necessary, together with all other income to be derived from or in connection with the project, to produce reasonably stable revenues sufficient to provide for the payment of the operating expenses, the minimum annual amortization charge, and the minimum annual return; and
(2) not higher than necessary to meet the need for dwellings for families of moderate income.

Source

(June 27, 1934, ch. 847, title VII, § 704, as added Aug. 10, 1948, ch. 832, title IV, § 401,62 Stat. 1277; amended Apr. 20, 1950, ch. 94, title I, § 122,64 Stat. 59; Pub. L. 90–19, § 1(a)(3),May 25, 1967, 81 Stat. 17.)
Amendments

1967—Pub. L. 90–19substituted “Secretary” for “Commissioner” wherever appearing.
1950—Act Apr. 20, 1950, substituted “Commissioner” for “Administrator” wherever appearing.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.

12 USCDescription of ChangeSession YearPublic LawStatutes at Large

 

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