Page:United States Statutes at Large Volume 114 Part 5.djvu/938

 114 STAT. 2952 PUBLIC LAW 106-569—DEC. 27, 2000 (c) DEADLINE FOR RECAPTURE OF FUNDS. —Section 11 of the Housing Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is amended— (1) in subsection (i)(5)— (A) by striking "if the organization or consortia has not used any grant amounts" and inserting "the Secretary shall recapture any grant amounts provided to the organization or consortia that are not used"; (B) by striking "(or," and inserting ", except that such period shall be 36 months"; and (C) by striking "within 36 months), the Secretary shall recapture such unused amounts" and inserting "and in the case of a grant amounts provided to a local affiliate of the organization or consortia that is developing five or more dwellings in connection with such grant amounts"; and (2) in subsection (j), by inserting after "carry out this section" the following: "and grant amounts provided to a local affiliate of the organization or consortia that is developing five or more dwellings in connection with such grant amounts". (d) TECHNICAL CORRECTIONS.— Section 11 of the Housing Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is amended— (1) in subsection (b)(4), by striking "Habitat for Humanity International, its affiliates, and other"; and (2) in subsection (e)(2), by striking "consoria" and inserting "consortia". TITLE III—SECTION 8 HOMEOWNERSHIP OPTION SEC. 301. DOWNPAYMENT ASSISTANCE. (a) AMENDMENTS. —Section 8(y) of the United States Housing Act of 1937 (42 U.S.C. 1437f(y)) is amended— (1) by redesignating paragraph (7) as paragraph (8); and (2) by inserting after paragraph (6) the foUowing new paragraph: "(7) DOWNPAYMENT ASSISTANCE. — "(A) AUTHORITY.— ^A public housing agency may, in lieu of providing monthly assistance payments under this subsection on behalf of a family eligible for such assistance and at the discretion of the public housing agency, provide assistance for the family in the form of a single grant to be used only as a contribution toward the downpa3ment required in connection with the purchase of a dwelling for fiscal year 2000 and each fiscal year thereafter to the extent provided in advance in appropriations Acts. "(B) AMOUNT. —The amount of a downpayment grant on behalf of an assisted family may not exceed the amount that is equal to the sum of the assistance payments that would be made during the first year of assistance on behalf of the family, based upon the income of the family at the time the grant is to be made.". 42 USC l437f (b) EFFECTIVE DATE. —The amendments made by subsection note. (a) shall take effect immediately after the amendments made by

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