section— (1) In general The term rental reduction amount means, with respect to any eligible senior unit for any month, an amount equal to the applicable percentage (as determined under subsection (d)(1)) of the excess of— (A) the applicable standard fair market rent for such unit, over (B) the family rental payment required for such unit. (2) Applicable standard fair market rent The term applicable standard fair market rent means, with respect to any eligible senior unit for any month, the lesser of— (A) the amount of rent which would be charged for a substantially similar unit in the same building which is not an eligible senior unit, or (B) an amount equal to the average modest rent (as determined in accordance with the State rental reduction allocation plan) for units with the same number of bedrooms in the same statistical area (as defined in section 143(k)(2)). (3) Family rental payment requirements (A) In general Each qualified rental reduction agreement with respect to any qualified building shall require that the family rental payment for an eligible senior unit within such building for any month shall be equal to the lesser of— (i) 30 percent of the monthly family income of the residents of the unit (as determined under subsection (d)(5)), or (ii) the applicable standard fair market rent for such unit determined under paragraph (2). (B) Utility costs Any utility allowance (determined by the Secretary after taking into account such determinations under section 8 of the United States Housing Act of 1937) paid by residents of an eligible senior unit shall be taken into account as rent in determining the family rental payment for such unit for purposes of this paragraph. (c) Rental reduction credit amount For purposes of this section— (1) Determination of amount (A) In general The term rental reduction credit amount means, with respect to any qualified building, the dollar amount which is allocated to such building (and to eligible senior units within such building) under this subsection. Such dollar