Lower Income Housing Amendments

[AI summary unavailable — showing source text] Lower Income Housing Amendments - States that under the United States Housing Act of 1937, the amount of monthly assistance payment with respect to any dwelling unit shall be the difference between 15 percent of one-twelfth of the annual income of the occupant family and the maximum monthly rent which the contract provides that the owner is to receive for the unit. Deletes the term "very low-income families" from such Act and rephrases applicable sections of such Act to apply the terms thereof to "lower income families. Redefines the term" lower income families" to mean any family whose income does not exceed 120 percent of the poverty income level for a family of its size in the area in which the family resides.…