Page:United States Statutes at Large Volume 123.djvu/240

 123STA T . 22 0PUBLIC LA W 111 –5—FE B.1 7, 200 9enforc e m en t, re s e a rc h an d e v a lu at i on activities
 * Provide

d fu r th er, T hat funds set aside in the p revious proviso shall remain availa b le until S eptember 30, 2 0 1 2: Provided further, That an y funds made available under this headin g used by the Secretary for personnel e x penses related to administering funding under this heading shall be transferred to ‘ ‘ P ersonnel C ompensation and B enefits, Commu - nity Planning and D evelopment ’ ’ and shall retain the terms and conditions of this account, including reprogramming provisions, except that the period of availability set forth in the previous proviso shall govern such transferred funds: Provided further, That any funds made available under this heading used by the Secretary for training or other administrative expenses shall be transferred to ‘‘ A dministration, O perations, and M anagement’’ for non-per- sonnel expenses of the Department of H ousing and U rban Develop- ment: Provided further, That any funds made available under this heading used by the Secretary for technology shall be transferred to ‘‘ W or k ing Capital F und’’ .HOMEINV E ST MENT PAR TNERSHIPS PRO G RAM For an additional amount for capital investments in lo w -income housing tax credit pro j ects, $ 2,2 5 0,000,000, to remain available until September 30, 2011: Provided , That such funds shall be made available to State housing credit agencies, as defined in section 4 2 ( h ) of the I nternal R evenue Code of 1 986, and shall be apportioned among the States based on the percentage of HOM E funds appor- tioned to each State and the participating jurisdictions therein for Fiscal Y ear 2008: Provided further, That the housing credit agencies in each State shall distribute these funds competitively under this heading and pursuant to their q ualified allocation plan (as defined in section 42(m) of the Internal Revenue Code of 1986) to owners of projects who have received or receive simultaneously an award of low-income housing tax credits under section 42(h) of the Internal Revenue Code of 1986: Provided further, That housing credit agencies in each State shall commit not less than 7 5 percent of such funds within one year of the date of enactment of this Act, and shall demonstrate that the project owners shall have expended 75 percent of the funds made available under this heading within two years of the date of enactment of this Act, and shall have expended 100 percent of the funds within 3 years of the date of enactment of this Act: Provided further, That failure by an owner to expend funds within the parameters required within the previous proviso shall result in a redistribution of these funds by a housing credit agency to a more deserving project in such State, except any funds not expended after 3 years from enactment shall be redistributed by the Secretary to other States that have fully utili z ed the funds made available to them: Provided further, That projects awarded low income housing tax credits under section 42(h) of the IRC of 1986 in fiscal years 2007, 2008, or 2009 shall be eligible for funding under this heading: Provided further, That housing credit agencies shall give priority to projects that are expected to be completed within 3 years of enactment: Provided further, That any assistance provided to an eligible low income housing tax credit project under this heading shall be made in the same manner and be subject to the same limitations (including rent, income, and use restrictions, in lieu of corresponding limita- tions under the HOME program) as required by the state housing Deadlin e s.