[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR906.2]

[Page 347]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 
               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 906--SECTION 5(h) HOMEOWNERSHIP PROGRAM (Eff. until 4-10-03)--Table of Contents
 
Sec. 906.2  Applicability.

    (a) General applicability. This part applies to public housing owned 
by public housing agencies (PHAs) (excluding Indian Housing Authorities 
(IHAs)) subject to Annual Contributions Contracts (ACCs) under the Act. 
In reference to housing properties, ``development'' means the same as 
``project'' (as defined in the Act). Except where otherwise indicated by 
the context, ``resident'' means the same as ``tenant'', as the latter 
term is used in the Act, including Turnkey III homebuyers, if 
applicable, as well as rental tenants of public housing and Section 8 
residents, and references to sale, purchase, conveyance and ownership 
include the types of interests and transactions that are incident to 
cooperative ownership.
    (b) Nonretroactivity. In the case of a Section 5(h) homeownership 
plan that was approved by HUD prior to the effective date of the interim 
rule under this part (October 21, 1991), no modifications or additional 
requirements will be imposed under the provisions of the interim or 
final rule, except for reasonable administrative procedures prescribed 
by HUD. Similarly, in the case of a plan that was approved under the 
interim rule, before the effective date of the final rule (December 12, 
1994), no modifications or additional requirements will be imposed under 
the provisions of the final rule, except for such reasonable 
administrative procedures.