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42 U.S. Code § 1437g. Public housing Capital and Operating Funds
(a) Merger into Capital Fund
Except as otherwise provided in the Quality Housing and Work Responsibility Act of 1998, any assistance made available for public housing under section 1437l of this title before October 1, 1999, shall be merged into the Capital Fund established under subsection (d).
(b) Merger into Operating Fund
Except as otherwise provided in the Quality Housing and Work Responsibility Act of 1998, any assistance made available for public housing under this section before October 1, 1999, shall be merged into the Operating Fund established under subsection (e).
(c) Allocation amount
(1) In generalFor fiscal year 2000 and each fiscal year thereafter, the Secretary shall allocate amounts in the Capital Fund and Operating Funds [1] for assistance for public housing agencies eligible for such assistance. The Secretary shall determine the amount of the allocation for each eligible agency, which shall be, for any fiscal year beginning after the effective date of the formulas described in subsections (d)(2) and (e)(2)—
(A)
for assistance from the Capital Fund, the amount determined for the agency under the formula under subsection (d)(2); and
(B)
for assistance from the Operating Fund, the amount determined for the agency under the formula under subsection (e)(2).
(2) FundingThere are authorized to be appropriated for assistance for public housing agencies under this section the following amounts:
(A) Capital Fund
For allocations of assistance from the Capital Fund, $3,000,000,000 for fiscal year 1999, and such sums as may be necessary for fiscal years 2000, 2001, 2002, and 2003.
(B) Operating Fund
For allocations of assistance from the Operating Fund, $2,900,000,000 for fiscal year 1999, and such sums as may be necessary for each of fiscal years 2000, 2001, 2002, and 2003.
(d) Capital Fund
(1) In generalThe Secretary shall establish a Capital Fund for the purpose of making assistance available to public housing agencies to carry out capital and management activities, including—
(A)
the development, financing, and modernization of public housing projects, including the redesign, reconstruction, and reconfiguration of public housing sites and buildings (including accessibility improvements) and the development of mixed-finance projects;
(B)
vacancy reduction;
(C)
addressing deferred maintenance needs and the replacement of obsolete utility systems and dwelling equipment;
(D)
planned code compliance;
(E)
management improvements, including the establishment and initial operation of computer centers in and around public housing through a Neighborhood Networks initiative, for the purpose of enhancing the self-sufficiency, employability, and economic self-reliance of public housing residents by providing them with onsite computer access and training resources;
(F)
demolition and replacement;
(G)
resident relocation;
(H)
capital expenditures to facilitate programs to improve the empowerment and economic self-sufficiency of public housing residents and to improve resident participation;
(I)
capital expenditures to improve the security and safety of residents;
(J)
homeownership activities, including programs under section 1437z–4 of this title;
(K)
improvement of energy and water-use efficiency by installing fixtures and fittings that conform to the American Society of Mechanical Engineers/American National Standards Institute standards A112.19.2–1998 and A112.18.1–2000, or any revision thereto, applicable at the time of installation, and by increasing energy efficiency and water conservation by such other means as the Secretary determines are appropriate; and
(L)
integrated utility management and capital planning to maximize energy conservation and efficiency measures.
(2) FormulaThe Secretary shall develop a formula for determining the amount of assistance provided to public housing agencies from the Capital Fund for a fiscal year, which shall include a mechanism to reward performance. The formula may take into account such factors as—
(A)
the number of public housing dwelling units owned, assisted, or operated by the public housing agency, the characteristics and locations of the projects, and the characteristics of the families served and to be served (including the incomes of the families);
(B)
the need of the public housing agency to carry out rehabilitation and modernization activities, replacement housing, and reconstruction, construction, and demolition activities related to public housing dwelling units owned, assisted, or operated by the public housing agency, including backlog and projected future needs of the agency;
(C)
the cost of constructing and rehabilitating property in the area;
(D)
the need of the public housing agency to carry out activities that provide a safe and secure environment in public housing units owned, assisted, or operated by the public housing agency;
(E)
any record by the public housing agency of exemplary performance in the operation of public housing, as indicated by the system of performance indicators established pursuant to section 1437d(j) of this title; and
(F)
any other factors that the Secretary determines to be appropriate.