Page:United States Statutes at Large Volume 102 Part 4.djvu/298

 102 STAT. 3268

PUBLIC LAW 100-628—NOV. 7, 1988 "(4) For purposes of subsection (a)(l)(C) and subsection (d)— "(A) the term 'date of a s s ^ m e n t ' means the date of assignment, without regard to whether such date occurs before, on, or after February 5, 1988; and "(B) in the case of a multifamily housing project assigned before the date of the enactment of the Stewart B. McKinney Homeless Assistance Amendments Act of 1988 and for which there are no records identifying the number of low- and moderate-income persons occup3ring units in the project on the date of assignment, the number of low- and moderate-income persons occupying units in the project within 120 days of such date of enactment shall be used instead.", (f) ANNUAL REPORT ON RIGHT OF FIRST REFUSAL.—Section 203 of

the Housing and Community Development Amendments of 1978 (12 U.S.C. 1701z-ll) is amended by adding at the end the following new subsection: "(k) The Secretary shall annually submit to the Congress a report describing the activities carried out under subsection (e) during the preceding year.". SEC. 1011. MULTIFAMILY HOUSING CAPITAL IMPROVEMENTS ASSISTANCE. (a) AMOUNTS AVAILABLE.—Section 201(j)(4) of the Housing and

Community Development Amendments of 1978 (12 U.S.C. 1715zla(j)(4)) is amended— (1) by striking "may use not more than $50,000,000" and inserting the following: "shall, to the extent of approvable applications and subject to paragraph (1), use not less than $30,000,000 or 40 percent (whichever is less) of the amounts available"; and (2) by adding a t the end the following new sentence: "Any amount reserved under this paragraph for assistance for capital improvements that is not used before the last 60 days of a fiscal year shall become available for other assistance under this section.". Regulations. (b) IMPLEMENTATION OF PROGRAM.—To implement the amend12 USC 1715z-la ments made by section 185 of the Housing and Community Developnote. ment Act of 1987, the Secretary of Housing and Urban Development shall issue regulations that become effective not later than February 5, 1989. 42 USC 1437f note.

SEC. 1012. USE OF FUNDS RECAPTURED FROM REFINANCING STATE FINANCE PROJECTS.

(a) IN GENERAL.—In the case of any State financed project that was provided a financial adjustment factor under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f) and is being refinanced, 50 percent of the amounts that are recaptured from the project shall be made available to the State housing finance s^ency in the State where the project is located for use in providing decent, safe, and sanitary housing affordable to very low-income families or persons. (b) BUDGET (DOMPUANCE.—Subsection (a) shall be effective only to such extent or in such amounts as are provided in appropriation Acts.

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