HR 2930 RFS 
Act of 1959 (as in effect before the enactment of the Cran-
ston-Gonzalez National Affordable Housing Act) in ac-
cordance with the terms for sales of subsidized loans on 
multifamily housing projects under section 203 of the 
Housing and Community Development Amendments of 
1978 (12 U.S.C. 1701z–11), and of carrying out a dem-
onstration program for sales of portfolios of such mort-
gages to housing finance agencies in three States. In con-
ducting such study, the Secretary shall place particular 
emphasis on determining whether the asset management 
functions and activities related to such loans and prop-
erties could be accomplished pursuant to such sales in a 
timely, effective, and efficient manner, including an anal-
ysis of the potential impacts on approvals of refinancings 
and preservation transactions, rent increase requests, and 
withdrawals from reserves or residual receipts (in cases 
in which there is no contract administrator). 
(b) REPORT.—Not later than the expiration of the 
12-month period beginning upon the date of the enact-
ment of this Act, the Secretary shall submit a report to 
the Committee on Financial Services of the House of Rep-
resentatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate on the findings of the study 
and any recommendations for implementing such a pro-
gram and such a demonstration. 
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HR 2930 RFS 
TITLE III—ASSISTED LIVING 
FACILITIES 
SEC. 301. DEFINITION OF ASSISTED LIVING FACILITY. 
Section 202b(g) of the Housing Act of 1959 (12 
U.S.C. 1701q–2(g)) is amended by striking paragraph (1) 
and inserting the following new paragraph: 
‘‘(1) the term ‘assisted living facility’ means a 
facility that— 
‘‘(A) is owned by a private nonprofit orga-
nization; and 
‘‘(B)(i) is licensed and regulated by the 
State (or if there is no State law providing for 
such licensing and regulation by the State, by 
the municipality or other political subdivision in 
which the facility is located); or 
‘‘(ii)(I) 
makes 
available, 
directly 
or 
through recognized and experienced third party 
service providers, to residents at the resident’s 
request or choice supportive services to assist 
the residents in carrying out the activities of 
daily living, such as bathing, dressing, eating, 
getting in and our of bed or chairs, walking, 
going outdoors, toileting, laundry, home man-
agement, preparing meals, shopping for per-
sonal items, obtaining and taking medication, 
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HR 2930 RFS 
managing money, using the telephone, or per-
forming light of heavy housework, and which 
may make available to residents home health 
care service, such as nursing and therapy, and 
certain health related services; and 
‘‘(II) provides separate dwelling units for 
residents, each of which may contain a full 
kitchen and bathroom and which includes com-
mon rooms and other facilities appropriate for 
the provision of supportive services to the resi-
dents of the facility; and’’. 
SEC. 302. MONTHLY ASSISTANCE PAYMENT UNDER RENTAL 
ASSISTANCE. 
Clause (iii) of section 8(o)(18)(B) of the United 
States 
Housing 
Act 
of 
1937 
(42 
U.S.C. 
1437f(o)(18)(B)(iii)) is amended by inserting before the 
period at the end the following: ‘‘, except that a family 
may be required at the time the family initially receives 
such assistance to pay rent in an amount exceeding 40 
percent of the monthly adjusted income of the family by 
such an amount or percentage as the Secretary deems ap-
propriate’’. 
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TITLE 
IV—FACILITATING 
AF-
FORDABLE HOUSING PRESER-
VATION TRANSACTIONS 
SEC. 401. USE OF SALE OR REFINANCING PROCEEDS. 
Notwithstanding any other provision of law, in con-
nection with the sale or refinancing of a multifamily hous-
ing project, or the transfer of an assistance contract on 
such a property, that requires the approval of the Sec-
retary of Housing and Urban Development, the Secretary 
shall not impose any condition that restricts the amount 
or use of sale or refinancing proceeds, or requires the fil-
ing of a financial report, unless such condition is expressly 
authorized by an existing contract entered into between 
the Secretary (or the Secretary’s designee) and the project 
owner before the imposition of a condition prohibited by 
this section or is a general condition for new financing 
with a mortgage insured by the Secretary. Any such condi-
tion previously imposed by the Secretary after January 1, 
2005, shall, at the option of the project owner, be consid-
ered void and not enforceable, and any agreement con- 
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