COMMUNITY HOUSING PRODUCTION SET-ASIDE.

SEC. 212. COMMUNITY HOUSING PRODUCTION SET-ASIDE. (a) Extension of Period.—Section 231 of the Cranston- Gonzalez National Affordable Housing Act (42 U.S.C. 12771) is amended by striking “18 months” each place it appears in sub-sections (a) and (b) and inserting “24 months”. (b) Allocation for Use by Nonprofit Organization.—Section 231(a) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12771(a)) is amended by inserting after the second sentence the following: “If during the first 24 months of its participation under this title, a participating jurisdiction is unable to identify a sufficient number of capable community housing development organizations, then up to 20 percent of the funds allocated to that jurisdiction under this section, but not to exceed $150,000, may be made available to carry out activities that develop the capacity of community housing development organizations in that jurisdiction.”. (c) Other Requirements.—Section 234(b) of the Cranston- Gonzalez National Affordable Housing Act (42 U.S.C. 12774(b)) is amended— (1) by striking “, together with other Federal assistance,”; and (2) by inserting before the period the following: “or $50,000 annually, whichever is greater”.