PUBLIC LAW 106-554—APPENDIX A 114 STAT. 2763A-75 SEC. 603. ADDITIONAL QUALIFIED ENTITIES. Section 404(7)(A) of the Assets for Independence Act (42 U.S.C. 604 note) is amended— (1) in clause (i), by striking "or" at the end thereof; (2) in clause (ii), by striking the period at the end and inserting "; or"; and (3) by adding at the end the following new clause: "(iii) an entity that— "(I)is— "(aa) a credit union designated as a lowincome credit union by the National Credit Union Administration (NCUA); or "(bb) an organization designated as a community development financial institution by the Secretary of the Treasury (or the Community Development Financial Institutions Fund); and "(II) can demonstrate a collaborative relationship with a local community-based organization whose activities are designed to address poverty in the community and the needs of community members for economic independence and stability-". SEC. 604. HOME PURCHASE COSTS. Section 404(8)(B)(i) of the Assets for Independence Act (42 U.S.C. 604 note) is amended by striking "100" and inserting "120". SEC. 605. mCKEASED SET-ASIDE FOR ECONOMIC LITERACY TRAINING AND ADMINISTRATIVE COSTS. Section 407(c)(3) of the Assets for Independence Act (42 U.S.C. 604 note) is amended— (1) by striking "9.5" and inserting "15"; and (2) by inserting after the first sentence the following: "Of the total amount specified in this paragraph, not more than 7.5 percent shall be used for administrative functions under paragraph (1)(C), including program management, reporting requirements, recruitment and enrollment of individuals, and monitoring. The remainder of the total amount specified in this paragraph (not including the amount specified for use for the purposes described in paragraph (1)(D)) shall be used for nonadministrative functions described in paragraph (1)(A), including case management, budgeting, economic literacy, and credit counseling. If the cost of nonadministrative functions described in paragraph (1)(A) is less than 5.5 percent of the total amount specified in this paragraph, such excess funds may be used for administrative functions.". SEC. 606. ALTERNATIVE ELIGIBILITY CRITERIA. Section 408(a)(1) of the Assets for Independence Act (42 U.S.C. 604 note) is amended by striking "does not exceed" and inserting "is equal to or less than 200 percent of the poverty line (as determined by the Office of Management and Budget) or". SEC. 607. REVISED ANNUAL PROGRESS REPORT DEADLINE. (a) IN GENERAL. —Section 412(c) of the Assets for Independence Act (42 U.S.C. 604 note) is amended by striking "calendar" and inserting "project".
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