Page:United States Statutes at Large Volume 123.djvu/997

 123STA T .97 7 PUBLIC LA W 111 –8—M A R .11, 2 0 09 (A)acomplet ea nd acc ur ate account i n g o f t h e actual pro j ect -b a s ed rene w al costs for project-based assistance under section 8 of the U nited S tates H ousing Act of 1937 ( 42 U . S. C . 1437f) ( B )re v ised estimates of the funding needed to full y fund all 12 months of all project-based contracts under such section 8 , including project-based contracts that e x pire in fiscal year 2 0 08 and fiscal year 2009; and (C) all sources of funding that will be used to fully fund all 12 months of the project-based contracts for fiscal years 2008 and 2009. (2) U PDATE D INFORM ATION. — At any time after the expira- tion of the 6 0-day period described in paragraph (1), the Sec- retary may submit corrections or updates to the information re q uired under paragraph (1), if upon completion of an audit of the project-based assistance program under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f), such audit reveals additional information that may provide Congress a more complete understanding of the Secretary ’ s implementa- tion of the project-based assistance program under such section 8. (b) R E QU IRED SU B MI S SIONS FOR F IS C A LY EAR 2010.—As part of the D epartment of Housing and Urban Development’s budget request for fiscal year 2010, the Secretary of Housing and Urban Development shall submit to the relevant authori z ing committees and to the Committees on Appropriations of the Senate and the House of Representatives complete and detailed information, including a project-by-project analysis, that verifies that such budget request will fully fund all project-based contracts under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f) in fiscal year 2010, including expiring project-based contracts. SEC. 22 5 . P ublic housing agencies that own and operate 400 or fewer public housing units may elect to be exempt from any asset management requirement imposed by the Secretary of Housing and Urban Development in connection with the operating fund rule
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d, T hat an agency see k ing a discontinuance of a reduction of subsidy under the operating fund formula shall not be exempt from asset management requirements. SEC. 226. W ith respect to the use of amounts provided in this Act and in future Acts for the operation, capital improvement and management of public housing as authorized by sections 9(d) and 9(e) of the United States Housing Act of 1937 (42 U.S.C. 1437g(d) and (e)), the Secretary shall not impose any requirement or guideline relating to asset management that restricts or limits in any way the use of capital funds for central office costs pursuant to section 9(g)(1) or 9(g)(2) of the United States Housing Act of 1937 (42 U.S.C. 1437g(g)(1), (2)): Provided , however, that a public housing agency may not use capital funds authorized under section 9(d) for activities that are eligible under section 9(e) for assistance with amounts from the operating fund in excess of the amounts permitted under section 9(g)(1) or 9(g)(2). SEC. 227. The Secretary of Housing and Urban Development shall report quarterly to the House of Representatives and Senate Committees on Appropriations on the status of all section 8 project- based housing, including the number of all project-based units by region as well as an analysis of all federally subsidized housing being refinanced under the M ark-to-Market program. The Secretary Reports.D e adlin e. 42USC1 4 37g note. Ex e m ption.