Page:United States Statutes at Large Volume 104 Part 5.djvu/789

 PUBLIC LAW 101-625—NOV. 28, 1990 104 STAT. 4111 the HOME Investment Trust Fund of the jurisdiction making the investment; except that if such jurisdiction is not a participating jurisdiction when such repa3anent is made, the amount of such repayment shall be reallocated in accordance with section 217(d), (c) AVAILABILITY. — The Secretary shall take such actions as are necessary to ensure that any repayments deposited in a HOME Investment Trust Fund in accordance with this section shall be immediately available to the participating jurisdiction for investment subject to the provisions of this subtitle that apply to funds that are allocated under section 217. Actions authorized under the preceding sentence may include authorizing the establishment for a participating jurisdiction of a HOME Investment Trust Fund account outside of the Federal Government that, under arrangements satisfactory to the Secretary, shall be used solely to invest in affordable housing within the participating jurisdiction's boundaries in accordance with the provisions of this title. Such accounts shall be established in such a manner that repa5anents are not receipts or collections of the Federal Government. SEC. 220. MATCHING REQUIREMENTS. 42 USC 12750. (a) CONTRIBUTION.—Each participating jurisdiction shall make contributions to affordable housing assisted under this title that total, throughout a fiscal year, not less than— (1) 25 percent of the total funds drawn from the jurisdiction's HOME Investment Trust Fund in that fiscal year with respect to rental assistance and housing rehabilitation; (2) 33 percent of the total funds drawn from the jurisdiction's HOME Investment Trust Fund in that fiscal year with respect to substantial rehabilitation; and (3) 50 percent of the total funds drawn from the jurisdiction's HOME Investment Trust Fund in that fiscal year with respect to new construction. Such contributions shall be in addition to any amounts made available under section 216(3)(A)(ii). (b) RECOGNITION. — (1) IN GENERAL. — A contribution shall be recognized for purposes of subsection (a) only if it— (A) is made with respect to housing that qualifies as affordable housing under section 215; or (B) is made with respect to any portion of a project not less than 50 percent of the units of which qualify as affordable housing under section 215. (2) ADMINISTRATIVE EXPENSES. —Contributions for administrative expenses shall be recognized only up to an amount equal to 7 percent of funds provided for investment under this title. (c) FORM.—Such contributions may be in the form of— (1) cash contributions from non-Federal resources, which may not include funds from a grant made under section 1060?) or section 106(d) of the Housing and Community Development Act of 1974; (2) payment of administrative expenses, as defined by the Secretary, from non-Federal resources, which may include funds from a grant made under section 106(b) or section 106(d) of the Housing and (Community Development Act of 1974; (3) the value of taxes, fees, or other charges that are normally and customarily imposed but are waived, foregone, or deferred

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