Any unit of subsidized housing exempted or preempted by federal or state law or administrative regulation from the imposition of maximum rents by municipal ordinance shall not be subject to any maximum rents imposed by this chapter.

Eighty percent of the property tax savings calculated pursuant to Section 7.44.080 shall be passed on to renters of subsidized housing and apportioned among rental units in a property in a manner substantially consistent with Section 7.44.080, unless such manner of apportionment among units is otherwise provided by federal and/or state law or administrative regulation or regulatory agreement with the governmental agency empowered to regulate such subsidized housing. (Ord. 5109-NS § 5, 1978)