Page:United States Statutes at Large Volume 114 Part 5.djvu/651

 PUBLIC LAW 106-554—APPENDIX G 114 STAT. 2763A-611 "(I) $1.75 ($1.50 for 2001) multiplied by the State population, or " (II) $2,000,000, ". (b) ADJUSTMENT OF STATE CEILING FOR INCREASES IN COST- OF-LiviNG.—Paragraph (3) of section 42(h) (relating to housing credit dollar amount for agencies) is amended by adding at the end the following new subparagraph: "(H) COST-OF-LIVING ADJUSTMENT.— "(i) IN GENERAL. —In the case of a calendar year after 2002, the $2,000,000 and $1.75 amounts in subparagraph (C) shall each be increased by an amount equal to— "(I) such dollar amount, multiplied by "(II) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year by substituting 'calendar year 2001' for 'calendar year 1992' in subparagraph (B) thereof "(ii) ROUNDING. — "(I) In the case of the $2,000,000 amount, any increase under clause (i) which is not a multiple of $5,000 shall be rounded to the next lowest multiple of $5,000. "(II) In the case of the $1.75 amount, any increase under clause (i) which is not a multiple of 5 cents shall be rounded to the next lowest multiple of 5 cents.". (c) CONFORMING AMENDMENTS. — (1) Section 42(h)(3)(C), as amended by subsection (a), is amended— (A) by striking "clause (ii)" in the matter following clause (iv) and inserting "clause (i)"; and (B) by striking "clauses (i)" in the matter following clause (iv) and inserting "clauses (ii)". (2) Section 42(h)(3)(D)(ii) is amended— (A) by striking "subparagraph (C)(ii)" and inserting "subparagraph (C)(i)"; and (B) by striking "clauses (i)" in subclause (II) and inserting "clauses (ii)". (d) EFFECTIVE DATE. —The amendments made by this section shall apply to calendar years after 2000. SEC. 132. MODIFICATION OF CRITERIA FOR ALLOCATING HOUSING CREDITS AMONG PROJECTS. (a) SELECTION CRITERIA. — Subparagraph (C) of section 42(m)(l) (relating to certain selection criteria must be used) is amended— (1) by inserting ", including whether the project includes the use of existing housing as part of a community revitalization plan" before the comma at the end of clause (iii); and (2) by striking clauses (v), (vi), and (vii) and inserting the following new clauses: "(v) tenant populations with special housing needs, "(vi) public housing waiting lists, "(vii) tenant populations of individuals with children, and "(viii) projects intended for eventual tenant ownership.".

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