PUBLIC LAW 107-116—JAN. 10, 2002 115 STAT. 2225 SEC. 614. ELIGIBLE INCLUSIONS FOR RENEWAL RENTS OF PARTIALLY ASSISTED BUILDINGS. Section 524(a)(4)(C) of the Multifamily Assisted Housing Reform and Afifordability Act of 1997 (42 U.S.C. 1437f note) is amended by adding after the period at the end the following: "Notwithstanding any other provision of law, the Secretary shall include in such budget-based cost increases costs relating to the project as a whole (including costs incurred with respect to units not covered by the contract for assistance), but only (I) if inclusion of such costs is requested by the owner or purchaser of the project, (II) if inclusion of such costs will permit capital repairs to the project or acquisition of the project by a nonprofit organization, and (III) to the extent that inclusion of such costs (or a portion thereof) complies with the requirement under clause (ii).". SEC. 615. ELIGIBILITY OF RESTRUCTURING PROJECTS FOR MISCELLA- NEOUS HOUSING INSURANCE. Section 223(a)(7) of the National Housing Act (12 U.S.C. 1715n(a)(7)) is amended— (1) by striking "under this Act: Provided, That the principal" and inserting the following: "under this Act, or an existing mortgage held by the Secretary that is subject to a mortgage restructuring and rental assistance sufficiency plan pursuant to the Multifamily Assisted Housing Reform and Affordability Act of 1997 (42 U.S.C. 1437f note), provided that— "(A) the principal"; (2) by striking "except that (A)" and inserting "except that (i)"; (3) by striking "(B)" and inserting "(ii)"; (4) by striking "(C)" and inserting "(iii)"; (5) by striking "(D)" and inserting "(iv)"; (6) by striking ": Provided further, That a mortgage" and inserting the following "; and "(B) a mortgage"; (7) by striking "or" at the end; and (8) by adding at the end the following new subparagraph: "(C) a mortgage that is subject to a mortgage restructuring and rental assistance sufficiency plan pursuant to the Multifamily Assisted Housing Reform and Affordability Act of 1997 (42 U.S.C. 1437f note) and is refinanced under this paragraph may have a term of not more than 30 years; or". SEC. 616. TECHNICAL CORRECTIONS. (a) EXEMPTIONS FROM RESTRUCTURING.— (1) IN GENERAL.— Section 514(h) of the Multifamily Assisted Housing Reform and Affordability Act of 1997 (42 U.S.C. 1437f note) is amended to read as if the simendment made by section 531(c) of Public Law 106-74 (113 Stat. 1116) were made to " Section 514(h)(1)" instead of "Section 514(h)". (2) RETROACTIVE EFFECT.— The amendment made by para- 42 USC I437f graph (1) of this subsection is deemed to have taken effect note. on the date of the enactment of Public Law 106-74 (113 Stat. 1109). (b) OTHER. —The Multifamily Assisted Housing Reform and Affordabihty Act of 1997 (42 U.S.C. 1437f note) is amended—
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