Page:United States Statutes at Large Volume 121.djvu/2434

 PUBLIC LAW 110–161—DEC. 26, 2007

121 STAT. 2413

dkrause on GSDDPC44 with PUBLAW

2008 equal to the amounts the agencies received in calendar year 2007, except that public housing agencies specified in categories 1 and 2 below shall receive funding under this proviso only if, and to the extent that, any such public housing agency submits a plan, approved by the Secretary, that demonstrates that the agency can effectively use within 12 months the funding that the agency would receive under this proviso that is in addition to the funding that the agency would receive under the first proviso: (1) public housing agencies that are eligible for assistance under section 901 in Public Law 109– 148 (119 Stat. 2781) or are located in the same counties as those eligible under section 901 and operate voucher programs under section 8(o) of the United States Housing Act of 1937 but do not operate public housing under section 9 of such Act, and any public housing agency that otherwise qualifies under this category must demonstrate that they have experienced a loss of rental housing stock as a result of the 2005 hurricanes; (2) public housing agencies that would receive less funding under the first proviso than they would receive under this proviso and that have been placed in receivership within the 24 months preceding the date of enactment of this Act; and (3) public housing agencies that spent more in calendar year 2007 than the total of the amounts of any such public housing agency’s allocation amount for calendar year 2007 and the amount of any such public housing agency’s available housing assistance payments undesignated funds balance from calendar year 2006 and the amount of any such public housing agency’s available administrative fees undesignated funds balance through calendar year 2007: Provided further, That notwithstanding the first two provisos under this paragraph, the amount of calendar year 2008 renewal funding for any agency otherwise authorized under such provisos shall be reduced by the amount of any unusable amount (as determined by the Secretary, due to limits in this paragraph with respect to an agency’s authorized level of units under contract) in such agency’s net restricted assets account, in accordance with the most recent VMS data in calendar year 2007 that is verifiable and complete, which exceeds 7 percent of the amount of renewal funding allocated to the agency for the calendar year 2007 funding cycle pursuant to section 21033 of Public Law 110– 5, as amended by section 4802 of Public Law 110–28: Provided further, That up to $50,000,000 shall be available only: (1) to adjust the allocations for public housing agencies, after application for an adjustment by a public housing agency that experienced a significant increase, as determined by the Secretary, in renewal costs from portability under section 8(r) of the Act of tenant-based rental assistance; and (2) for adjustments for public housing agencies with voucher leasing rates at the end of the calendar year that exceed the average leasing for the 12-month period used to establish the allocation: Provided further, That none of the funds provided under this paragraph may be used to support a total number of unit months under lease which exceeds a public housing agency’s authorized level of units under contract: Provided further, That the Secretary shall, to the extent necessary to stay within the amount specified under this paragraph, after subtracting $723,257,000 from such amount, pro rate each public housing

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