Page:United States Statutes at Large Volume 106 Part 5.djvu/114

 106 STAT. 3752 PUBLIC LAW 102-550—OCT. 28, 1992 year by substituting '$335,000' for '$500,000' where it appears in paragraph (3).". 42 USC 12746 (c) APPLICABILITY. —Notwithstanding any other provision of law, "°* * the grant thresholds provided for in section 216, as amended by this section, and the grant thresholds provided for in section 217(b) of the Cranston-Gonzalez National Affordable Housing Act, as amended by this section, shall apply. SEC. 203. ELIMINATION OF RESTRICTIONS ON NEW CONSTRUCTION. (a) ELIGIBLE USES OF INVESTMENT.— Section 212(a) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12742(a)) is amended— (1) in the last sentence of paragraph (2), by striking "under paragraph (3) of this subsection or"; (2) by striking paragraph (3); and (3) by redesignating paragraph (4) as paragraph (3). (b) FORMULA ALLOCATION.— Section 217(D)(1) of the Cranston- Gonzalez National Affordable Housing Act (42 U.S.C. 12747(b)(1)) is amended— (1) by striking subparagraph (A); (2) in subparagraph (D), by striking "Except as provided in subparagraph (A), the basic formula established under subparagraph (B)" and inserting 'The basic formula established under subparagraph (A)"; (3) in subparagraph (E), by striking "formulas in subparagraph (B)" and inserting "formiila in subparagraph (A)"; (4) in subparagraph (F)— (A) in the first sentence, by striking "subparagraph (B)" and inserting "subparagraph (A)"; and (B) by striking the second sentence; (5) in subparagraph (G), by striking "formulas in subparagraphs (A) and (B)" and inserting "formula in subparagraph (A)'*; and (6) by redesignating subparagraphs (B) through (G) (as amended by this paragraph) as subparagraphs (A) through (F), respectively. (c) CONFORMING AMENDMENT.— Section 218(g) of the Cranston- Gonzalez National Affordable Housing Act (42 U.S.C. 12748(g)) is amended by striking "Except as provided in section 217(b)(l)(A)(ii), if' and inserting "If. SEC. 204. POUCIES AND PREFERENCE RULES; USE OF TENANT-BASED RENTAL ASSISTANCE AMOUNTS FOR SECURITY DEPOSITS. (a) POLICIES AND PREFERENCE RULES. —Section 212(a)(3) of the Cranston-Gronzalez National Affordable Housing Act (42 U.S.C. 12742(a)(3)), as so redesignated by section 203(a)(3) of this Act, is amended by adding at the end the following: ^(E) SECURITY DEPOSIT ASSISTANCE. — A jurisdiction using funds provided under this subtitle for tenant-based rental assistance may use such funds to provide loans or grants to very low- and low-income families for security deposits for rental of dwelling units. Assistance under this subparagraph does not preclude assistance under any other provision of this paragraph.". (b) SECURITY DEPOSITS.—Section 212(a)(3)(A) of the Cranston- Gronzalez National Affordable Housing Act (42 U.S.C. 12742(a)(4)(A)), as so redesignated by section 203(a)(3) of this Act, is amended by striking clause (ii) and inserting the following:

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