The minimum allocation rises from $500,000 to $750,000
What the document says“in paragraph (2), by striking ``$500,000'' each place that term appears and inserting ``$750,000'';”
The section amends section 217(b) of the Cranston-Gonzalez National Affordable Housing Act to raise the minimum allocation figure from $500,000 to $750,000 wherever it appears in paragraph (2), makes matching changes in paragraph (3) that keep the older figure for allocations before the Act's enactment, and strikes paragraph (4).
What the document actually says“in paragraph (2), by striking ``$500,000'' each place that term appears and inserting ``$750,000'';”
One figure comes out of an older rule. Every time it shows up, it is swapped. It rises from five hundred thousand to seven hundred fifty thousand.
The figure is the smallest share a place can get. Below it, a place is treated differently. The older figure still governs allocations made before this law.
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