Modifications of participating jurisdiction qualification threshold and process for reallocations

Section 216 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12746) is amended— (1) in paragraph (3)(A)— (A) by striking (A) Except as provided in paragraph (10), a jurisdiction and inserting the following: (A) Eligibility threshold (i) In general Except as provided in subparagraph (B), a jurisdiction; and (B) by striking or if the Secretary finds that and all that follows through the end of clause (ii) and inserting the following: “subject to clause (ii). (ii) Inflation adjustment to eligibility threshold For each fiscal year after fiscal year 2025, the Secretary shall adjust the threshold amount in clause (i) for inflation.; (2) in paragraph (6)— (A) in the matter preceding subparagraph (A), by inserting this title, including the requirements in after the requirements of; and (B) by striking meet the requirements each place that term appears and inserting meet or comply with the requirements; and (3) by striking paragraph (10).