3646

VETOES

(2)  The lower rate or rates are not less than the
greater of 60 percent of the actual interest cost of moneys used
to fund the program or a rate of 4 percent; and

(3)  The Secretary determines that the borrowers
served by these loans do not have sufficient income to repay a
loan at a higher rate.

(D) THE DEPARTMENT MAY SET A LOWER RATE OR RATES OF
INTEREST FOR GROUP HOME SPONSORS IF:

(1) THE GROUP HOMES ARE TO BE OCCUPIED IN SUBSTANTIAL
PART BY INDIVIDUALS OR FAMILIES WHOSE INCOMES DO NOT EXCEED 80
PERCENT OF THE MAXIMUM INCOME LIMITS THAT THE DEPARTMENT MAY
ESTABLISH, IN WHICH CASE THE RATE MAY NOT BE LESS THAN THE
GREATER OF:

(I) 60 PERCENT OF THE ACTUAL INTEREST COST OF
MONEYS USED TO FUND THE PROGRAM; OR

(II) 4 PERCENT, OR

(2) THE GROUP HOMES ARE TO BE OCCUPIED IN SUBSTANTIAL
PART BY INDIVIDUALS OR FAMILIES WHOSE INCOMES ARE LESS THAN THE
INCOME LIMITS IN PARAGRAPH (1) OF THIS SUBSECTION, IN WHICH CASE
THE RATE MAY NOT BE LESS THAN ZERO PERCENT; AND

(3) THE SECRETARY DETERMINES THAT THE GROUP HOME
SPONSORS UNDER THIS SUBSECTION WOULD OTHERWISE BE UNABLE TO
PROVIDE A GROUP HOME TO OCCUPANTS WITH INCOME LEVELS THAT MEET
THE PROGRAM REQUIREMENTS.

(D) FOR A LOAN TO A GROUP HOME SPONSOR, THE DEPARTMENT MAY
SET AN INTEREST RATE LOWER THAN THE INTEREST RATES OTHERWISE
PROVIDED UNDER THIS SECTION, INCLUDING AN INTEREST RATE AS LOW AS
ZERO PERCENT, IF;

(1) THE SECRETARY DETERMINES THAT THE GROUP HOME
SPONSOR WOULD OTHERWISE BE UNABLE TO PROVIDE A GROUP HOME TO
ELIGIBLE LOW INCOME OCCUPANTS; AND

(2) THE GROUP HOME IS TO BE OCCUPIED IN SUBSTANTIAL
PART BY ELIGIBLE OCCUPANTS WHOSE INCOMES ARE LESS THAN 70 PERCENT
OF THE MAXIMUM INCOME LIMITS THAT THE DEPARTMENT MAY ESTABLISH.

[(d)] (E) The Department shall include in its request for
appropriations for the program any information requested by the
Secretary of Budget and Fiscal Planning about loans at lower
rates of interest which shall include, at a minimum, an estimate
of the lower rate or rates of interest at which eligible loans
may be made and the aggregate principal amount of loans expected
to be made at the lower rates in the coming fiscal year.

13-311.