Sec. 201.
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/bill/114/hr/2577/pp/section-201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Eighty five percent of the amounts of budget authority, or in lieu thereof 85 percent of the cash amounts associated with such budget authority, that are recaptured from projects described in section 1012(a) of the Stewart B. McKinney Homeless Assistance Amendments Act of 1988 ( 42 U.S.C. 1437 note) shall be rescinded or in the case of cash, shall be remitted to the Treasury. Notwithstanding the previous sentence, the Secretary may award up to 15 percent of the budget authority or cash recaptured and not rescinded or remitted to the Treasury to provide project owners with incentives to refinance their project at a lower interest rate.
Any amounts of budget authority or cash recaptured and not rescinded, returned to the Treasury, or otherwise awarded by September 30, 2016, shall be rescinded or in the case of cash, shall be remitted to the Treasury.
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