Page:United States Statutes at Large Volume 104 Part 5.djvu/826

 104 STAT. 4148 PUBLIC LAW 101-625—NOV. 28, 1990 "(A)(i) twenty years and thirty-two days if made for the purpose of financing alterations, repairs, and improvements upon or in connection with an existing single-family structure; and "(ii) fifteen years and thirty-two days if made for the purpose of financing alterations, repairs, and improvements upon or in connection with an existing manufactured home;"; and (2) in subparagraph (B), by striking "fifteen years" and inserting "twenty years". Subtitle C—Effective Date Homeownership and Opportunity Through HOPE Act. SEC. 351. EFFECTIVE DATE. If the Omnibus Budget Reconciliation Act of 1990 is enacted before the enactment of this Act, the provisions of sections 323, 324, 325, 331, 332, 334(a), and 336 (of this Act) and the amendments made by such sections shall not take effect. This section shall apply notwithstanding any provision relating to effective date or applicability contained in such sections. TITLE IV—HOMEOWNERSHIP AND OP- PORTUNITY FOR PEOPLE EVERY- WHERE PROGRAMS 42 USC 1437aaa note. SEC. 401. SHORT TITLE. This title may be cited as the "Homeownership and Opportunity Through HOPE Act". Subtitle A—HOPE for Public and Indian Housing Homeownership SEC. 411. HOPE FOR PUBLIC AND INDIAN HOUSING HOMEOWNERSHIP. The United States Housing Act of 1937 is amended by adding at the end the following new title: "TITLE III —HOPE FOR PUBLIC AND INDIAN HOUSING HOMEOWNERSHIP 42 USC 1437aaa. "SEC. 301. PROGRAM AUTHORITY. "(a) IN GENERAL. —The Secretary is authorized to make— "(1) planning grants to help applicants to develop homeownership programs in accordance with this title; and (2) implementation grants to carry out homeownership programs in accordance with this title. "(b) AUTHORITY TO RESERVE HOUSING ASSISTANCE. — In connection with a grant under this title, the Secretary may reserve authority to provide assistance under section 8 of this Act to the extent necessary to provide replacement housing and rental assistance for a nonpurchasing tenant who resides in the project on the date the Secretary approves the application for an implementation grant, for use by the tenant in another project.

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