Untitled section

(a) Section 239 of division D of the Consolidated Appropriations Act, 2026 (Public Law 119–75) is hereby repealed and the unobligated balance of amounts made available under such section 239(d) is hereby rescinded. (b) Notwithstanding section 106, for fiscal years 2027 through 2029, the Secretary of Housing and Urban Development (Secretary) may, through competition, including a first-come, first served competition, satisfy the full indebtedness relating to any remaining principal and interest under financial assistance made available under section 201 of the Housing and Community Development Amendments of 1978 (12 U.S.C. 1715z–1a) (Flex Sub loan). (1) The Secretary may only satisfy a loan under this subsection for properties with— (A) at least one, but fewer than 100 assisted units; (B) a Flex Sub loan with an unpaid principal balance of $1,500,000 or more; (C) not for profit ownership; (D) a score of 90 or higher on the most recent REAC inspection from fiscal year 2025 or 2026; and (E) a most recent management and occupancy review score of above average or superior from fiscal year 2025 or 2026. (2) The Secretary may set such terms and conditions as the Secretary determines are appropriate to carry out this subsection, including: (A) Different maturity dates or interest rate terms; (B) Extension of affordability use agreements; and (C) Other measures to ensure the long-term stability of operations at the property. (3) There is hereby appropriated $6,258,174.91, to remain available until September 30, 2029, to carry out the purposes of this subsection, in addition to amounts otherwise available for such purposes. (c) Of the unobligated balances in Treasury Appropriations Fund Symbol 86 X 0303 and made available prior to fiscal year 2020, $4,258,174.91 are hereby rescinded.