USE OF FUNDS RECAPTURED FROM REFINANCING STATE FINANCE PROJECTS.

SEC. 1012. USE OF FUNDS RECAPTURED FROM REFINANCING STATE FINANCE PROJECTS. (a) In General.— In the case of any State financed project that was provided a financial adjustment factor under section 8 of the United States Housing Act of 1937 (42 U.S.C. 14370 and is being refinanced, 50 percent of the amounts that are recaptured from the project shall be made available to the State housing finance agency in the State where the project is located for use in providing decent, safe, and sanitary housing affordable to very low-income families or persons. (b) Budget Compliance.— Subsection (a) shall be effective only to such extent or in such amounts as are provided in appropriation Acts.