SEC-710 -- RURAL HOUSING INVENTORY. 

 
 (a) Transfer for Use Under Section 514.-Section 510(e)(3) of the
Housing Act of 1949 (42 U.S.C. 1480(e)(3)) is amended by inserting after
"fifty years" the following: ", or for use as rental units under
section 514 with mortgages containing repayment terms with up to 33
years,".
 
 (b) Transfer to For-Profit Entities.-Section 510(e) of the Housing Act
of 1949 is further amended by striking "or public bodies" and
inserting ", public bodies, or for-profit entities, which have good
records of providing low income housing under section 515".