Page:United States Statutes at Large Volume 104 Part 5.djvu/810

 104 STAT. 4132 PUBLIC LAW 101-625—NOV. 28, 1990 42 USC 12853. SEC. 304. NATIONAL HOMEOWNERSHIP TRUST FUND. (a) ESTABLISHMENT.— T here is established in the Treasury of the United States a revolving fund, to be known as the National Homeownership Trust Fund. (b) ASSETS.—The Fund shall consist of— (1) any amount approved in appropriation Acts under section 308 for purposes of carrying out this subtitle; (2) any amount received by the Trust as repa5rment for pay- ments made under this subtitle; and (3) any amount received by the Trust under subsection (d). (c) USE OF AMOUNTS.—The Fund shall, to the extent approved in appropriations Acts, be available to the Trust for purposes of carry- ing out this subtitle. (d) INVESTMENT OF EXCESS AMOUNTS.— Any amounts in the Fund determined by the Trust to be in excess of the amounts currently required to carry out the provisions of this subtitle shall be invested by the Trust in obligations of, or obligations guaranteed as to both principal and interest by, the United States or any sigency of the United States. (e) DEMONSTRATION PROGRAMS.— Using not more than $20,000,000 of any amounts appropriated for the Fund under section 308 in fiscal year 1991, the Secretary shall carry out demonstration programs for combining housing activities and economic development activities, as follows: (1) In Milwaukee, Wisconsin, in an amount not to exceed $4,200,000, for development, rehabilitation, and revitalization of 2 vacant structures in a blighted minority neighborhood. (2) In Washington, District of Columbia, in an amount not to exceed $10,000,000, for nonprofit neighborhood-based groups to acquire and rehabilitate vacant public and private housing for resale or rent to low- and moderate-income families and to the extent of and subject to engage in neighborhood-based economic development activities. (3) In Philadelphia, Pennsylvania, in an amount not to exceed $1,000,000, for technical assistance and organizational support for a community development corporation that is a city-wide public/private partnership engaged in the provision of technical assistance to neighborhood community development corporations. (4) In other areas, as the Secretary may determine. 42 USC 12854. SEC. 305. DEFINITIONS. For purposes of this subtitle: (1) BOARD OF DIRECTORS.— The term "Board of Directors" or "Board" means the Board of Directors of the National Homeownership Trust under section 3020t)). (2) DISPLACED HOMEMAKER. —The term "displaced homemaker" means an individual who— (A) is an adult; (B) has not worked full-time full-year in the labor force for a number of years, but has during such years, worked primarily without remuneration to care for the home and family; and (C) is unemployed or underemployed and is experiencing difficulty in obtaining or upgrading employment. (3) FUND.— The term Fund" means the National Homeownership Trust Fund established in section 304. Wisconsin. District of Columbia. Pennsylvania.

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