Preservation Enhancement and Savings Opportunity Act of 2012

[AI summary unavailable — showing source text] Preservation Enhancement and Savings Opportunity Act of 2012 - Amends the Low-Income Housing Preservation and Resident Homeownership Act of 1990 (LIHPRHA) to entitle the owner of a property subject to a plan of action or use agreement to distribute: (1) annually, all surplus cash generated by the property; and (2) upon request made to the Secretary of Housing and Urban Development (HUD), any funds accumulated in a residual receipts account. Entitles the owner to such distribution, however, only if the individual is in material compliance with the use agreement. Declares that neither LIHPRHA, nor any plan of action or use agreement implementing it, shall restrict an owner from obtaining a new loan or refinancing a loan secured by a low-income housing project, or from distributing the proceeds of such a loan, except that the treatment of the loan for purposes of budget-based project rents shall be within the Secretary's discretion. Grants an owner who received a direct capital loan under the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997, upon 30 days written notice to the Secretary, including payment of the presen…