REPEAL OF MODERNIZATION FUND.

SEC. 522. REPEAL OF MODERNIZATION FUND. (a) In General.— Section 14 of the United States Housing Act of 1937 (42 U.S.C. 14371) is hereby repealed. (b) Conforming Amendments.— (1) Funds for public housing development.— Section 5(c)(5) of the United States Housing Act of 1937 (42 U.S.C. 1437c(c)(5)) is amended by striking “for use under section 14 or” and inserting “for use under section 9 or”. (2) Allocation of assistance.— Section 213(d)(1)(B)(ii) of the Housing and Community Development Act of 1974 (42 U.S.C. 1439(d)(1)(B)(i)) is amended by striking “or 14”. (3) Moving to work demonstration.— Section 204 of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (as contained in section 101(e) of the Omnibus Consolidated Rescissions and Appropriations Act of 1996; 42 U.S.C. 1437f) is amended by adding at the end the following new subsection: “(j) Capital and Operating Fund Assistance.— With respect to any public housing agency participating in the demonstration under this section that receives assistance from the Capital or Operating Fund under section 9 of the United States Housing Act of 1937 (as amended by the Quality Housing and Work Responsibility Act of 1998), for purposes of this section— “(1) any reference to assistance under section 9 of the United States Housing Act of 1937 shall be considered to refer also to assistance provided from the Operating Fund under section 9(e) of such Act (as so amended); and “(2) any reference to assistance under section 14 of the United States Housing Act of 1937 shall be considered to refer also to assistance provided from the Capital Fund under section 9(d) of such Act (as so amended).”. (4) Lead-based paint poisoning prevention act.— Section 302 of the Lead-Based Paint Poisoning Prevention Act (42 U.S.C. 4822) is amended— (A) in subsection (d)(1)— (i) by striking “assisted under section 14” and inserting “assisted with capital assistance provided under section 9”; and 112 STAT. 2565 (ii) by striking “assistance under section 14” and inserting “capital assistance provided under section 9”; and (B) in subsection (f), by striking “for comprehensive improvement assistance under section 14” and inserting “under the Capital Fund under section 9”. (5) HOME program assistance.— Section 212(d)(5) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12742(d)(5)) is amended by striking “section 14” and inserting “section 9(d)(1)”. (c) Savings Provisions.— (1) In general.— Section 14 of the United States Housing Act of 1937 shall apply as provided in section 519(e) of this Act. (2) Expansion of use of modernization funding.— Before the implementation of formulas pursuant to sections 9(d)(2) and 9(e)(2) of the United States Housing Act of 1937 (as amended by section 519(a) of this Act) an agency may utilize any authority provided under or pursuant to section 14(q) of such Act (including the authority under section 201(a) of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (Public Law 104–134; 110 Stat. 1321–277)), as such provisions (including such section 201(a)) may be amended thereafter, including any amendment made by title II of this Act), notwithstanding any other provision of law (including the repeal made under this section, the expiration of the applicability of such section 201, or any repeal of such section 201). (3) Effective date.— This subsection shall take effect on the date of the enactment of this Act.