Page:United States Statutes at Large Volume 105 Part 1.djvu/300

 105 STAT. 272 PUBLIC LAW 102-54—JUNE 13, 1991 tions of residence, including the manner in which applications for residence are approved; and (E) the residence will be operated solely as a residence for not less than six veterans. (c) FUNDING. —Loans under this section shall be made from the special account of the General Post Fund of the Department of Veterans Affairs established for purposes of this section. The amount of such loans outstanding at any time may not exceed $100,000. Amounts received as payment of principal and interest on such loans shall be deposited in that account. The operation of the loan program under this section shall be separately accounted for, and shall be separately stated in the documents accompanying the President's budget for each fiscal year. (d) TERMS AND CONDITIONS.— Loans under this section shall be made on such terms and conditions, including interest, as the Secretary prescribes. (e) REPORT.— After the end of the 15-month period beginning on the date the first loan is extended under this section, the Secretary shall issue a report on the Department's experience under the section. The report shall include the following information: (1) The default rate on loans extended under this section. (2) The manner in which loan payments are collected. (3) The number of facilities at which loans have been extended. (4) The adequacy of the amount of funds in the special account referred to in subsection (c). SEC. 9. HOUSING PROGRAMS FOR HOMELESS VETERANS. (a) IN GENERAL.— Subchapter III of chapter 37 of title 38, United States Code, is amended by adding at the end the following new section: "§ 1835. Housing assistance for homeless veterans "(a)(1) To assist homeless veterans and their families in acquiring shelter, the Secretary may enter into agreements described in paragraph (2) with— "(A) nonprofit organizations, with preference being given to any organization named in, or approved by the Secretary under, section 3402 of this title; or "(B) any State or any political subdivision thereof. "(2) To carry out paragraph (1), the Secretary may enter into agreements to sell real property, and improvements thereon, acquired by the Secretary as the result of a default on a loan made, insured, or guaranteed under this chapter. Such sale shall be for such consideration as the Secretary determines is in the best interests of homeless veterans and the Federal Government. "(3) The Secretary may enter into an agreement under paragraph (1) of this subsection only if— "(A) the Secretary determines that such an action will not adversely affect the ability of the Department— "(i) to fulfill its statutory missions with respect to the Department loan guaranty program and the short- and long-term solvency of the Loan Guaranty Revolving Fund and the Guaranty and Indemnity Fund under this chapter; or "(ii) to carry out other functions and administer other programs authorized by law;

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