Homeless Youth Transitional Living Act - Amends the Runaway and Homeless Youth Act to authorize the Secretary of Health and Human Services to make grants and provide technical assistance to public and nonprofit private entities to establish and operate transitional living youth projects for homeless youth.

Authorizes appropriations for such grant program for FY 1989 through 1992. Prohibits such funding unless the aggregate amount appropriated for a fiscal year for the runaway and homeless youth grant program exceeds a specified amount.

Includes such projects under provisions for information assistance to potential grantees and for lease of surplus Federal facilities.

Sets forth eligibility and reporting requirements.