‘‘(5) In the case of an eligible recipient that is 
a State, the percentage of the population of the eligi-
ble recipient that resides in counties having ex-
tremely low vacancy rates. 
‘‘(6) The percentage of housing stock in the ju-
risdiction of the eligible recipient that is extremely 
old housing. 
‘‘(7) Any other factors that the Secretary deter-
mines to be appropriate. 
‘‘(b) FORMULA AMOUNT.— 
‘‘(1) IN GENERAL.—For fiscal year 2007 and 
each fiscal year thereafter, the Secretary shall deter-
mine the formula amount under this subsection for 
each eligible recipient. 
‘‘(2) STATES.—The formula amount for each 
State shall be the amount determined for such State 
by applying the formula under subsection (a) to the 
total amount allocated under section 293 for all 
States for the fiscal year. 
‘‘(3) PARTICIPATING LOCAL JURISDICTIONS.— 
The formula amount for each participating local ju-
risdiction shall be the amount determined for such 
participating local jurisdiction by applying the for-
mula under subsection (a) to the total amount allo-
cated under section 293 for all participating local ju-
risdictions for the fiscal year. 
‘‘(c) ALLOCATION AMOUNT.—The allocation under 
this subsection for a State or local participating jurisdic-
tion for a fiscal year shall be determined as follows: 
‘‘(1) STATES.—In the case of a State: 
‘‘(A) MINIMUM AMOUNT.—If the formula 
amount determined under subsection (b) for the 
State for the fiscal year is less than 1 percent 
of the total amount made available under sec-
tion 292(c) for such fiscal year, the allocation 
for the State shall be 1 percent of such amount. 
‘‘(B) FORMULA AMOUNT.—If the formula 
amount determined under subsection (b) for the 
State for the fiscal year is 1 percent or more 
of the total amount made available under sec-
tion 292(c) for such fiscal year, the allocation 
for the State shall be the formula amount for 
the State, except that the Secretary shall re-
duce such formula amounts for all States whose 
allocations are determined under this paragraph 
on a pro rata basis by the amount necessary to 
account for any increases from the formula 
amount for allocations made under paragraph 
(1) of this subsection so that the total of the al-
locations for all States is equal to the amount 
of the allocation under section 293 for States. 
‘‘(2) PARTICIPATING LOCAL JURISDICTIONS.— 
The allocation for each eligible participating local ju-
risdiction shall be the formula amount for the eligi-
ble jurisdiction determined under subsection (b). 
‘‘(d) GRANT AWARDS.—For fiscal year 2007 and 
each fiscal year thereafter, using the amounts made avail-
able to the Secretary from the Trust Fund for such fiscal 
year under section 292(c), the Secretary shall make a 
grant to each eligible recipient in the lesser of the fol-
lowing amounts: 
‘‘(1) FULL ALLOCATION.—The amount of the 
allocation under subsection (c) for the eligible recipi-
ent. 
‘‘(2) 4 TIMES MATCHING CONTRIBUTION.—The 
amount that is equal to 4 times the amount of funds 
provided in cash, in-kind contributions, or other eli-
gible amounts by the eligible recipient from non- 
Federal sources for use only as provided in sub-
section (e)(2). 
‘‘(e) MATCHING CONTRIBUTION.— 
‘‘(1) ELIGIBLE
AMOUNTS.—For purposes of 
subsection (d)(2), only the following amounts shall
be considered other eligible amounts from non-Fed-
eral sources: 
‘‘(A) LOW-INCOME
HOUSING
TAX
CRED-
ITS.—50 percent of funds allocable to tax cred-
its allocated under section 42 of the Internal 
Revenue Code of 1986. 
‘‘(B) MORTGAGE
BOND
REVENUE.—50 
percent of revenue from mortgage revenue 
bonds issued under section 143 of such Code. 
‘‘(C) TAX EXEMPT BONDS PROCEEDS.—50 
percent of proceeds from the sale of tax exempt 
bonds. 
‘‘(D) CDBG PROGRAM AMOUNTS.—50 per-
cent of grant amounts received under the com-
munity development block grant program under 
title I of the Housing and Community Develop-
ment Act of 1974 (42 U.S.C. 5301 et seq.). 
‘‘(E) HOME 
PROGRAM
AMOUNTS.—50 
percent of funds received under the HOME in-
vestment partnerships program under subtitles 
A through F of this title. 
‘‘(F) PROJECT-BASED
VOUCHER
ASSIST-
ANCE.—50 percent of funds used each year 
pursuant to paragraph (13) of section 8(o) of 
the United States Housing Act of 1937 (42
U.S.C. 1437f(o)(13)) for the duration of the 
applicable housing assistance payments con-
tract. 
‘‘(G) TEMPORARY ASSISTANCE FOR NEEDY 
FAMILIES.—Federal, State, and local funds pro-
vided under part A of title IV of the Social Se-
curity Act (42 U.S.C. 601 et seq.). 
‘‘(H) RURAL
HOUSING
ASSISTANCE.—50 
percent of amounts received under title V of the 
Housing Act of 1949 (42 U.S.C. 1471 et seq.). 
‘‘(I) VETERANS
ADMINISTRATION
HOME-
LESS PROVIDERS GRANT AND PER DIEM PRO-
GRAM.—50 percent of amounts received under 
the comprehensive service programs for home-
less veterans under subchapter II of chapter 20 
of title 38, United States Code (including pro-
viders grants under section 2011 of such sub-
chapter and per diem under section 2012 of 
such subchapter). 
‘‘(J) GENERAL
STATE
REVENUE.—Any 
other State or unit of general local government 
revenue that is not derived from Federal 
sources, including any State tax revenue.