SEC-552 -- RENEWAL OF EXPIRING CONTRACTS. 

 
 (a) In General.-Section 8 of the United States Housing Act of 1937 (42
U.S.C. 1437f) is amended by adding at the end the following new
subsection:
 
 "(w) Renewal of Expiring Contracts.-Not later than 30 days after the
beginning of each fiscal year, the Secretary shall publish in the
Federal Register a plan for reducing, to the extent feasible,
year-to-year fluctuations in the levels of budget authority that will
be required over the succeeding 5-year period to renew expiring rental
assistance contracts entered into under this section since the enactment
of the Housing and Community Development Act of 1974. To the extent
necessary to carry out such plan and to the extent approved in
appropriations Acts, the Secretary is authorized to enter into annual
contributions contracts with terms of less than 60 months.".
 
 (b) Short-Term Contracts.-Section 8(d)(2)(A) of the United States
Housing Act of 1937 (42 U.S.C. 1437f(d)(2)(A)) is amended by inserting
after the first sentence the following: "The Secretary shall permit
public housing agencies to enter into contracts for assistance payments
of less than 12 months duration in order to avoid disruption in
assistance to eligible families if the annual contributions contract is
within 1 year of its expiration date.".