((a)) ** Agreements by Secretary** After approving a plan of action from an owner of eligible low-income housing that includes the owner’s plan to extend the low-income affordability restrictions of the housing, the Secretary shall, subject to the availability of appropriations for such purpose, enter into such agreements as are necessary to enable the owner to receive (for each year after the approval of the plan of action) the annual authorized return for the housing determined under , pay debt service on the federally-assisted mortgage covering the housing, pay debt service on any loan for rehabilitation of the housing, and meet project operating expenses and establish adequate reserves. The Secretary shall take into account the Federal cost limits under for the housing when providing incentives under subsections  (b)(2) and (3) of this section. The Secretary shall take such actions as are necessary to ensure that owners receive the annual authorized return for the housing determined under during the period in which rent increases are phased in as provided in , including (in order of preference) (1) allowing the owner access to residual receipt accounts (pursuant to subsection (b)(1) of this section), (2) deferring remittance of excess rent payments, and (3) providing an increase in rents permitted under an existing contract under (pursuant to subsection (b)(2) of this section).section 4104(a) of this titlesection 4105(a) of this title1section 4104(a) of this titlesection 4112(a)(2)(E) of this titlesection 1437f of title 42

((b)) ** Permissible incentives** Such agreements may include one or more of the following incentives:

((1)) Increased access to residual receipts accounts.

((2)) Subject to the availability of amounts provided in appropriations Acts—

((A)) an increase in the rents permitted under an existing contract under , or

((B)) additional assistance under or an extension of any project-based assistance attached to the housing; and

((3)) An increase in the rents on units occupied by current tenants as permitted under .

((4)) Financing of capital improvements under section 201 of the Housing and Community Development Amendments of 1978.

((5)) Financing of capital improvements through provision of insurance for a second mortgage under .

((6)) In the case of housing defined in , redirection of the Interest Reduction Payment subsidies to a second mortgage.

((7)) Access by the owner to a portion of the preservation equity in the housing through provision of insurance for a second mortgage loan insured under section 1715z–6(f)  of this title or a non-insured mortgage loan approved by the Secretary and the mortgagee.

((8)) Other incentives authorized in law.