PUBLIC LAW 101-625—NOV. 28, 1990 104 STAT. 4099 an essential element of the jurisdiction's annual housing strategy for expanding the supply, affordability, and availability of decent, safe, sanitary, and affordable housing, and specifies the local market conditions that lead to the choice of this option; and (ii) the tenant-based rental assistance is provided to persons from the waiting lists eligible for section 8 Eissistance in accordance with the applicable preferences. (B) FAIR SHARE NOT AFFECTED.— A jurisdiction's section 8 fair share allocation shall be unaffected by the use of assistance under this title. (C) 24-MONTH CONTRACTS. — Rental assistance contracts made available with assistance under this title shall be for not more than 24 months, except that assistance to a family may be renewed. (D) USE OF SECTION 8 ASSISTANCE.— In any case where assistance under section 8 of the United States Housing Act of 1937 becomes available to a participating jurisdiction, recipients of rental assistance under this title shall qualify for tenant selection preferences to the same extent as when they received the rental assistance under this title. A rental assistance program under this title shall meet minimum criteria prescribed by the Secretary, such as housing quality standards and standards regarding the reasonableness of the rent. (b) INVESTMENTS.— Participating jurisdictions shall have discretion to invest funds made available under this subtitle as equity investments, interest-bearing loans or advances, noninterest-bearing loans or advances, interest subsidies or other forms of assistance that the Secretary has determined to be consistent with the purposes of this title. Each participating jurisdiction shall have the right to establish the terms of assistance. (c) PROHIBITED USES.— Funds made available under this subtitle may not be used to— (1) defray any administrative cost of a participating jurisdiction, (2) provide tenant-bsised rental assistance for the special purposes of the existing section 8 program, including replacing public housing that is demolished or disposed of, preserving federally assisted housing, assisting in the disposition of housing owned or held by the Secretary, preventing displacement from rental rehabilitation projects, or extending or renewing tenantbased assistance under section 8 of the United States Housing Act of 1937, (3) provide non-Federal matching contributions required under any other Federal program, (4) provide assistance authorized under section 9 of the United States Housing Act of 1937, (5) carry out activities authorized under section 14 of the Housing Act of 1937, or (6) provide assistance to eligible low-income housing under the Emergency Low Income Housing Preservation Act of 1987 or the Low-Income Housing Preservation and Resident Homeownership Act of 1990. (d) COST LIMITS.—
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