Page:United States Statutes at Large Volume 103 Part 2.djvu/1031

 PUBLIC LAW 101-235—DEC. 15, 1989 103 STAT. 2041 and Community Development Amendments of 1978 in the next three fiscal years; and (D) an assessment of what additional resources will be needed for the Fund in the next threefiscalyears. (3) Hie term "federally-assisted multifamUy housing" means hous> ingfinancedby a loan or mortgage that is— (A) instu«d or held by the Secretary under section 221(d)(3) of the National Housing Act and assisted under section 101 of the Housing and Urban Development Act of 1965 or section 8 of the United States Housing Act of 1937; (B) insured or held l^ the Secretary and bears interest at a rate determined under the proviso of section 221(d)(5) of the National Housing Act; or (Q insured, assisted or held by the Secretary under section 236 of the National Housing Act. SEC 205. REPORT ON PROPERTY DISPOSITION DEMONSTRATION. The Secretary of Housing and Urban Development shall submit to the Congress, not later thim 30 days after the date of ^lactment of this Act, a report describing the steps that have been and will be taken to implement section 184 of the Housing and Community Development Act of 1987 including a detailed description of— (1) the efforts taken by the Secretary to solicit participants in the demonstration; (2) any applications, responses or other expressions of interest submitted by State housingfinanceagencies; (3) the reasons for the Secretary's refusal, as oi the date of enactment of this Act, to approve such applications; and (4) the steps that the Secretary has taken and plans to take to ensure that the demonstration is impl^nented in at least one State within 90 days after the date of enactment of this Act SEC 206. PROHIBITION ON PREPAYHENT OF NEW RURAL HOUSING LOANS. (a) IN GENERAL.— Section 502(c)(l) of the Housing Act of 1949 is 12 USC 1472. amended— (1) by inserting "(A)" after "(c)(D"; (2) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively; and (3) by adding at the end the following new subparagraph: "(B) The Secretary may not accept an offer to prepay, or request refinancing in accordance with subsection (b)(3) of, any loan made or insured under section 515 pursuant to a contract entered into on or after the date of the enactment of the Department oi Housing and Urban Development Reform Act of 1989.". Oi>) CONFORMING AMENDMENT.— Section 502(c)(l) of the Housing Act of 1949 is amended— (1) by striking "after the date of enactment of this subsec- tion," and inserting the following: "after December 21, 1979, but before the date of the enactment of the Department of Housing and Urban Development Reform Act of 1989,"; and (2) by striking "after the date of enactment of this subsection and" and inserting the following: "after December 21, 1979, but before the date of the enactment of the Department of Housing and Urban Dev^opment Reform Act of 1989, and".

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