S.2736 - Federal Government - A bill to amend section 202 of the Housing Act of 1959 to improve the program under such section for supportive housing for the elderly, and for other purposes.

A bill to amend section 202 of the Housing Act of 1959 to improve the program under such section for supportive housing for the elderly, and for other purposes. 3/7/2008--Introduced. Section 202 Supportive Housing for the Elderly Act of 2008 - Amends the Housing Act of 1959 regarding project rental assistance for supportive housing for the elderly. Changes from discretionary to mandatory the authority of the Secretary of Housing and Urban Development (HUD) to adjust the annual amount of a contract for project rental assistance to provide for reasonable project costs. Directs the Secretary to delegate review and processing of selected capital advance projects to a state or local housing agency meeting specified criteria. States that owner deposits shall be used only to cover operating deficits during the first three years of operations and shall not be used to cover construction shortfalls or inadequate initial project rental assistance amounts. Allows [...]

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