Sec. 231.
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The language under the heading Rental Assistance Demonstration in the Department of Housing and Urban Development Appropriations Act, 2012 ( Public Law 112–55 ), is amended— by striking (except for funds allocated under such section for single room occupancy dwellings as authorized by title IV of the McKinney-Vento Homeless Assistance Act) in both places it appears; in the second proviso, by striking 2015 and inserting 2018 ; in the third proviso, after associated with such conversion , by inserting in excess of amounts made available under this heading ; in the fourth proviso, by striking 60,000 and inserting 185,000 ; in the penultimate proviso, by— striking December 31, 2014 and inserting 2016 ; striking and agreement of the administering public housing agency ; and inserting a long-term project-based subsidy contract under section 8 of the Act, which shall have a term of no less than 20 years, with rent adjustments only by an operating cost factor established by the Secretary, which shall be eligible for renewal under section 524 of the Multifamily Assisted Housing Reform and Affordability Act of 1997 ( following 42 U.S.C. 1437f note), or, subject to agreement of the administering public housing agency, to assistance under vouchers to assistance under ; by inserting the following provisos before the final proviso: ; and , That amounts made available under the heading Provided further Rental Housing Assistance during the period of conversion under the previous proviso, which may extend beyond fiscal year 2016 as necessary to allow processing of all timely applications, shall be available for project-based subsidy contracts entered into pursuant to the previous proviso: , That amounts, including contract authority, recaptured from contracts following a conversion under the previous two provisos are hereby rescinded and an amount of additional new budget authority, equivalent to the amount rescinded is hereby appropriated, to remain available until expended for such conversions:
Provided further , That the Secretary may transfer amounts made available under the heading Provided further Rental Housing Assistance , amounts made available for tenant protection vouchers under the heading Tenant-Based Rental Assistance and specifically associated with any such conversions, and amounts made available under the previous proviso as needed to the account under the Project-Based Rental Assistance heading to facilitate conversion under the three previous provisos and any increase in cost for Project-Based Rental Assistance associated with such conversion shall be equal to amounts so transferred: in the final proviso, by— striking with respect to the previous proviso and inserting with respect to the previous four provisos ; and striking impact of the previous proviso and inserting impact of the fiscal year 2012 and 2013 conversion of tenant protection vouchers to assistance under section 8(o)(13) of the Act .
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- Pub. L. 112-55
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