123STA T .54 1 PUBLIC LA W 111 –8—M A R .11 , 2 0 0 9than$3,40 0,000 isfor n ewlyc onstr u cte d units financed under sec - tions 51 4and51 6 of the H ousin gA ctof1 9 49
- Provide
d fu r th er ,T hat rental assistance agree m ents entered into or renewed during the current fiscal year shall b e funded for a one-year p eriod: Pro - vided further, That any une x pended balances remaining at the end of such one-year agreements may be transferred and used for the purposes of any debt reduction
maintenance, repair, or rehabilitation of any existing pro j ects; preser v ation; and rental assistance activities authori z ed under title V of the Act: Provided further, That rental assistance provided under agreements entered into prior to fiscal year 2 009 for a farm labor multi-family housing project financed under section 514 or 516 of the Act may not be recaptured for use in another project until such assistance has remained unused for a period of 12 consecutive months, if such project has a waiting list of tenants see k ing such assistance or the project has rental assistance eligible tenants who are not receiving such assistance: Provided further, That such recaptured rental assistance shall, to the extent practicable, be applied to another farm labor multi-family housing project financed under section 514 or 516 of the Act .MULTI - FA MIL YHO U S I NGREV ITALI Z ATION P ROGRAM A C COUNT F or the rural housing voucher program as authorized under section 542 of the Housing Act of 1949, but notwithstanding sub- section ( b ) of such section, for the cost to conduct a housing dem- onstration program to provide revolving loans for the preservation of low-income multi-family housing projects, and for additional costs to conduct a demonstration program for the preservation and revitalization of multi-family rental housing properties described in this paragraph, $2 7 ,714,000, to remain available until expended: Provided, That of the funds made available under this heading, $4,965,000 shall be available for rural housing vouchers to any low-income household (including those not receiving rental assist- ance) residing in a property financed with a section 515 loan which has been prepaid after S eptember 30, 2005: Provided further, That the amount of such voucher shall be the difference between com- parable market rent for the section 515 unit and the tenant paid rent for such unit: Provided further, That funds made available for such vouchers shall be subject to the availability of annual appropriations: Provided further, That the Secretary shall, to the maximum extent practicable, administer such vouchers with current regulations and administrative guidance applicable to section 8 housing vouchers administered by the Secretary of the D epartment of Housing and U rban Development (including the ability to pay administrative costs related to delivery of the voucher funds): Pro- vided further, That if the Secretary determines that the amount made available for vouchers in this or any other Act is not needed for vouchers, the Secretary may use such funds for the demonstra- tion programs for the preservation and revitalization of multi-family rental housing properties described in this paragraph: Provided further, That of the funds made available under this heading, $2,889,000 shall be available for the cost of loans to private non- profit organizations, or such non-profit organizations ’ affiliate loan funds and State and local housing finance agencies, to carry out a housing demonstration program to provide revolving loans for the preservation of low-income multi-family housing projects: Pro- vided further, That loans under such demonstration program shall Loans.V o ucher s. Ap p li ca b ili ty . C ontracts.
