Pub. L. 113-235, div. K, tit. II, sec. 234

Sec. 234. 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—(1) 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;(2) in the second proviso, by striking “2015” and inserting “2018”;(3) in the third proviso, after “associated with such conversion”, by inserting “in excess of amounts made available under this heading”;(4) in the fourth proviso, by striking “60,000” and inserting “185,000”;(5) in the penultimate proviso, by—(A) striking “for fiscal years 2012 through December 31, 2014”;(B) striking “and agreement of the administering public housing agency”; and(C) 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 (42 U.S.C. 1437f note), or, subject to agreement of the administering public housing agency, to assistance under” following “vouchers to assistance under”;(6) by inserting the following provisos before the final proviso: “Provided further, That amounts made available under the heading ‘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: Provided further, That amounts, including contract authority, 128 STAT. 2758 recaptured from contracts following a conversion under the previous two provisos are hereby rescinded and an amount of additional new budget authority, equivalent to the amount rescinded is hereby appropriated, to remain available until expended for such conversions: Provided further, That the Secretary may transfer amounts made available under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 ‘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:”; and(7) in the final proviso, by—(A) striking “with respect to the previous proviso” and inserting “with respect to the previous four provisos”; and(B) 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”.