FAIR Costs Act

The United States Housing Act of 1937 (42 U.S.C. 1437 et. seq.) is amended—

(1) in section 3(a)(1)(A), by striking 30 and inserting 20;

(2) in section 8(o)(2)(A)(i), by striking 30 and inserting 20; and

(3) in section 9(e)(2)(A)—

(A) in clause (vi), by striking and at the end;

(B) by redesignating clause (vii) as clause (viii) and by moving such clause 1 em to the right; and

(C) by inserting after clause (vi) the following:

(vii) the amount of public housing rental income forgone by the public housing agency as a result of lowering the percentage of monthly adjusted income for the calculation of rental payments; and

Section 521(a)(3) of the Housing Act of 1949 (42 U.S.C. 1490a(a)(3)) is amended by striking 30 in each place it occurs and inserting 20.

Section 202(c)(3) of the Housing Act of 1959 (12 U.S.C. 1701q(c)(3)) is amended by striking 30 and inserting 20.

Section 811(d)(3) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 8013(d)(3)) is amended by striking 30 and inserting 20.

The United States Housing Act of 1937 (42 U.S.C. 1437 et. seq.) is amended—

(1) in section 9(c)(2)(A), by striking, and 2003 and inserting 2003, 2025, and each fiscal year thereafter;

(2) in section 9(c)(2)(B), by striking, and 2003 and inserting 2003, 2025, and each fiscal year thereafter; and

(3) in section 8, by adding at the end the following new subsection:

There are authorized to be appropriated, for fiscal year 2025 and each fiscal year thereafter, such sums as may be necessary for tenant-based assistance under subsection (o).

Section 202(m) of the Housing Act of 1959 (12 U.S.C. 1701q(m)) is amended to read as follows:

There is authorized to be appropriated such sums as may be necessary to carry out this section.

Subsection (m) of section 811 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 8013(m)) is amended by striking the period at the end and inserting, and such sums as necessary for fiscal year 2025 and each fiscal year thereafter.