I 112th CONGRESS 1st Session H. R. 3539 IN THE HOUSE OF REPRESENTATIVES December 1, 2011 Mr. Canseco introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To terminate the HOPE VI program of the Department of Housing and Urban Development.

1.

Short title

This Act may be cited as the HOPE VI Program Termination Act of 2011.

2.

Termination of HOPE VI program

(a)

Repeal of grant authority

Section 24 of the United States Housing Act of 1937 (42 U.S.C. 1437v) is hereby repealed. (b)

Treatment of remaining funds

Notwithstanding the repeal under subsection (a) of this section, any amounts made available under section 24 of the United States Housing Act of 1937 and obligated before the date of the enactment of this Act shall continue to be governed by such section, as in effect immediately before such repeal, and any other applicable provisions of law. (c)

Termination

Upon the completion of outlays to liquidate all amounts referred to in subsection (b) of this section and the completion of all activities with respect to such amounts pursuant to subsection (b), the Secretary of Housing and Urban Development shall terminate the HOPE VI program authorized under section 24 of the United States Housing Act of 1937. (d)

Rescission of funding

Effective on the date of the enactment of this Act, there are rescinded and permanently canceled all unobligated balances remaining available as of such date of enactment of any amounts made available under section 24 of the United States Housing Act of 1937. All such unobligated balances so rescinded and permanently canceled shall be covered into the General Fund of the Treasury for reducing the budget deficit of the Federal Government.