Page:United States Statutes at Large Volume 104 Part 5.djvu/922

 104 STAT. 4244 PUBLIC LAW 101-625—NOV. 28, 1990 "(E) The term 'downpayment' means the amount of purchase price of home required to be paid at or before the time of purchase. "(F) The term 'eligible homebuyer' means a homebuyer that meets the requirements under paragraph (5)(B). "(G) The term 'eligible homeowner' means a homeowner that meets the requirements under paragraph (6)(D). "(H) The term 'first-time homebuyer' means an individual who— "(i) (and whose spouse) has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the home pursuant to which counseling is provided under this subsection; "(ii) is a displaced homemaker who, except for owning a residence with his or her spouse or residing in a residence owned by the spouse, meets the requirements of clause (i); or "(iii) is a single parent who, except for owning a residence with his or her spouse or residing in a residence owned by the spouse while married, meets the requirements of clause (i). "(I) The term 'home' includes any dwelling or dwelling unit eligible for a qualified mortgage, and includes a unit in a condominium project, a membership interest and occupancy agreement in a cooperative housing project, and a manufactured home and the lot on which the home is situated. "(J) The term 'metropolitan area' means a standard metropolitan statistical area as designated by the Director of the Office of Management and Budget. "(K) The term 'qualified mortgage' means a mortgage on a 1- to 4-family home that is insured under title II of the National Housing Act. "(L) The term 'Secretary' means the Secretary of Housing and Urban Development. "(M) The term 'single parent' means an individual who— "(i) is unmarried or legally separated from a spouse; and "(iiXD has 1 or more minor children for whom the individual has custody or joint custody; or "(II) is pregnant. "(11) REGULATIONS.—The Secretary may issue any regulations necessary to carry out this subsection. "(12) AUTHORIZATION OP APPROPRIATIONS. — There are authorized to be appropriated to carry out this subsection $350,000 for fiscal year 1991 and $365,000 for fiscal year 1992. "(13) TERMINATION. —The demonstration program under this subsection shall terminate at the end of fiscal year 1994.". SEC. 578. FLEXIBLE SUBSIDY PROGRAM. 12 USC 1715Z-1. (a) EXTENSION. —Section 236(fK3) of the National Housing Act is amended by striking "September 30, 1991" and inserting "September 30, 1992". (b) AUTHORIZATION. — Section 201(j) of the Housing and Community Development Amendments of 1978 (12 U.S.C. 1715z-la(j)) is amended by adding at the end the following paragraph:

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