Section 1057. Transfer of authority, administration and appropriations

1.
  On and after the effective date of this section, all obligations of  the
  division with respect to rural area revitalization projects shall become
  the  obligations  of  the  corporation  and  the  corporation  shall  be
  responsible for the administration  of  all  rural  area  revitalization
  projects.  The  division  shall  provide for the orderly transfer of all
  matters, records and things relating to rural revitalization projects to
  the corporation.
    2. Notwithstanding the provisions of any general or special  law,  the
  director  of  the  budget  is  authorized to transfer to the corporation
  funds otherwise appropriated or reappropriated for the purposes of rural
  area revitalization projects to the division of  housing  and  community
  renewal.
    3.  All  rules, regulations, acts, determinations and decisions of the
  division or the commissioner thereof with respect to the  administration
  of  rural area revitalization projects in force on the effective date of
  this section shall continue in force and effect as  rules,  regulations,
  acts,  determinations  and  decisions  of  the  corporation  until  duly
  modified or rescinded by the corporation.