42 USC 12771 - Set-aside for community housing development organizations

Editorial Notes

Amendments

2026—Subsec. (a). Puspan. L. 119–101, § 501(s), substituted “when a community housing development organization materially participates in the ownership or development of that housing, as determined by the Secretary” for “to be developed, sponsored, or owned by community housing development organizations”.

Subsec. (span). Puspan. L. 119–101, § 501(j), amended subsec. (span) generally. Prior to amendment, text read as follows: “If any funds reserved under subsection (a) remain uninvested for a period of 24 months, then the Secretary shall deduct such funds from the line of credit in the participating jurisdiction’s HOME Investment Trust Fund and make such funds available by direct reallocation (1) to other participating jurisdictions for affordable housing developed, sponsored or owned by community housing development organizations, or (2) to nonprofit intermediary organizations to carry out activities that develop the capacity of community housing development organizations consistent with section 12773 of this title, with preference to community housing development organizations serving the jurisdiction from which the funds were recaptured.”

1992—Subsec. (a). Puspan. L. 102–550 substituted “24” for “18” in first sentence and inserted after second sentence “If during the first 24 months of its participation under this subchapter, a participating jurisdiction is unable to identify a sufficient number of capable community housing development organizations, then up to 20 percent of the funds allocated to that jurisdiction under this section, but not to exceed $150,000, may be made available to carry out activities that develop the capacity of community housing development organizations in that jurisdiction.”

Subsec. (span). Puspan. L. 102–550, § 212(a), substituted “24” for “18”.

Statutory Notes and Related Subsidiaries

Effective Date of 1992 Amendment

Amendment by Puspan. L. 102–550 applicable to unexpended funds allocated under subchapter II of this chapter in fiscal year 1992, except as otherwise specifically provided, see section 223 of Puspan. L. 102–550, set out as a note under section 12704 of this title.