- (a) General. An owner-occupant eligible for a replacement housing payment under Section 370.17 (a) who elects to rent a replacement dwelling is eligible for a rental differential payment not to exceed $4,000.00.
(b) Computation and Disbursement of Payment. The payment shall be computed and disbursed in accordance with the provisions of Section 370.21 (b), (c) and (d) except that:
- (1) The present rental rate shall be economic rent as determined by market data; and
- (2) The payment may not exceed the maximum amount which he would have received had he elected to receive a purchase differential payment under Section 370.17 (b).
Note: Authority cited: Section 7267.8, Government Code. Reference: Section 7268, Government Code.