REFORM OF MODERATE REHABILITATION PROGRAM.

SEC. 127. REFORM OF MODERATE REHABILITATION PROGRAM.Section 8(e)(2) of the United States Housing Act of 1937 is amended— (1) by striking the period at the end of the first sentence and inserting the following: “, and which shall involve a minimum expenditure of $3,000 for a unit, including its prorated share of work to be accomplished on common areas or systems.”; (2) by inserting after the period at the end the following new sentence: “In order to maximize the availability of low-income housing, in providing assistance under this paragraph, the Secretary shall include m any calculation or determination regard-103 STAT. 2026ing the amount of the assistance to be made available the extent to which any proceeds are available from any tax credits provided under section 42 of the Internal Revenue Code of 1986 (or from any syndication of such credits) with respect to the housing.”; and (3) by inserting after the period at the end (as inserted by paragraph (2)) the following: “For each fiscal year, the Secretary may not provide assistance pursuant to this paragraph to any project for rehabilitation of more than 100 units. Assistance pursuant to this paragraph shall be allocated according to the formula established pursuant to section 213(d) of the Housing and Community Development Act of 1974, and awarded pursuant to a competition under such section. The Secretary shall maintain a single listing of any assistance provided pursuant to this paragraph, which shall include a statement identifying the owner and location of the project to which assistance was made, the amount of the assistance, and the number of units assisted.”.