To authorize jurisdictions receiving funds for fiscal year 1992 under the HOME Investment Partnerships Act that are allocated for new construction to use the funds, at the discretion of the jurisdiction, for other eligible activities under such Act and to amend the Stewart B. McKinney Homeless Assistance Amendments Act of 1988 to authorize local governments that have financed housing projects that have been provided a section 8 financial adjustment factor to use recaptured amounts available from refinancing of the projects for housing activities.
PL 102-273 (H.R.4449), enacted 04/21/1992

PUBLIC LAW 102-273—APR. 21, 1992 
106 STAT. 113 
Public Law 102-273 
102d Congress 
An Act 
To authorize jurisdictions receiving funds for fiscal year 1992 under the HOME 
Investment Partnerships Act that are allocated for new construction to use the 
funds, at the discretion of the jurisdiction, for other eligible activities under 
such Act and to amend the Stewart B. McKinney Homeless Assistance Amend- 
Apr. 21, 1992 
ments Act of 1988 to authorize local gfovemments that have financed housing 
[H.R. 4449] 
projects that have been provided a section 8 financial adjustment factor to use 
recaptured amounts available from refinancing of the projects for housing 
activities. 
Be it enacted by the Senate and House of Representatives of 
the United States of 
America in Congress assembled, 
SECTION 1. AVAILABILITY OF NEW CONSTRUCTION FUNDS UNDER 
HOME INVESTMENT PARTNERSHIPS ACT. 
Section 217(b)(1)(A) of the Cranston-Cjronzalez National Affordable 
Housing Act (42 U.S.C. 12747(b)(1)(A)) is amended by adding at 
the end the following new clause: 
"(iii) Notwithstanding clauses (i) and (ii), any juris-
diction receiving amounts made available under such 
clause may, at the discretion of the jurisdiction, use 
such amounts for other eligible uses in accordance 
with section 212 if the jurisdiction determines that 
such use will better meet the housing needs within 
the jurisdiction. This clause shall be effective only with 
respect to funds provided under the Departments of 
Veterans Affairs and Housing and Urb£in Development, 
and Independent Agencies Appropriations Act, 1992 
(Public Law 102-139; 105 Stat. 744), which suspends 
the requirement of contributions by participating juris-
dictions, and shall become ineffective if such require-
ment is reimposed.". 
SEC. 2. USE OF FUNDS RECAPTURED FROM REFINANCING LOCAL 
FINANCE PROJECTS. 
(a) IN GENERAL.—Section 1012(a) of the Stewart B. McKinney 
Homeless Assistance Amendments Act of 1988 (42 U.S.C. 1437f 
note) is amended— 
(1) by inserting "or any local government or local housing 
agency financed project," after "State financed project"; and 
(2) by inserting "or the local government or local housing 
agency initiating the refinancing, as applicable," after "located'. 
(b) APPLICABILITY.—The amendments made by subsection (a) shall 42 use i437f 
apply to any refinancing of a local government or local housing "
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agency financed project approved by the Secretary of Housing and 
Urban Development for which settlement occurred after January 
1,1992. 
(c) CONFORMING AMENDMENTS.—The Stewart B. McKinney Home-
less Assistance Amendments Act of 1988 is amended— 
(1) by striking the section heading for section 1012 (42 U.S.C. 
1437f note), and inserting the following new section heading: 
106 STAT. 114 
PUBLIC LAW 102-273—APR. 21, 1992 
"SEC. 1012. USE OF FUNDS RECAPTURED FROM REFINANCING STATE 
AND LOCAL FINANCE PROJECTS."; 
and 
(2) in the table of contents in section 1(b), by striking the 
item relating to section 1012 and inserting the following new 
item: 
"Sec. 1012. Use of funds recaptured from refinancing State and local finance 
projects.". 
Approved April 21, 1992. 
LEGISLATIVE HISTORY—H.R. 4449: 
CONGRESSIONAL RECORD, Vol. 138 (1992): 
Mar. 17, considered and passed House. 
Apr. 8, considered and passed Senate.