USE OF ADVANCES TO REPAY DEBT.

SEC. 445. USE OF ADVANCES TO REPAY DEBT. (a) In General.— Section 423(a)(1) of the Stewart B. McKinney Homeless Assistance Act (42 U.S.C. 11383(a)(1)) is amended by102 STAT. 3234 adding at the end the following new sentence: “The repayment of any outstanding debt owed on a loan made to purchase an existing structure shall be considered to be a cost of acquisition eligible for an advance under this paragraph if the structure was not used as supportive housing prior to the receipt of assistance.”. (b) Effective Date.— The amendment made by subsection (a) applies to notifications of awards for grants made under subtitle C of title IV of the Stewart B. McKinney Homeless Assistance Act on or after November 1, 1987.