Page:United States Statutes at Large Volume 105 Part 2.djvu/827

 PUBLIC LAW 102-233—DEC. 12, 1991 105 STAT. 1779 depository institution under conservatorship or receivership, which subsidiary has as its principal business the ownership of real property); and "(11) that has an appraised value that does not exceed the applicable dollar amount set forth in the first sentence of section 208(b)(2) of the National Housing Act (without regard to any increase of such amount for high-cost areas).". SEC. 602. TIME LIMITATIONS ON SALE OF ELIGIBLE SINGLE FAMILY PROPERTY. Section 21A(c)(2)(B) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(2)(B)), as amended by Public Law 102-139, is amended— (1) in the first sentence, by striking "For" and inserting "Except as provided in the last sentence of this subparagraph for"; and (2) by adding at the end the following new sentence: "To the extent or in such amounts as are provided in appropriations Acts for additional costs and losses to the Corporation resulting from this sentence taking effect, for purposes of this subsection the period referred to in the first and third sentences shall be considered to be the 180-day period following the date on which the Corporation first makes an eligible single family property available for sale.". SEC. 603. ACTIVE MARKETING OF ELIGIBLE SINGLE FAMILY PROPERTY TO LOWER-INCOME VETERANS. Section 21A(c)(2)(B) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(2)(B)) is amended— (1) in clause (i) of the first sentence, by inserting "(including qualifying households with members who are veterans)" after "households"; (2) in subclause (I) of clause (ii) of the first sentence, by inserting "(including lower-income families with members who are veterans)" after "lower-income families"; and (3) in the fourth sentence, by inserting "and to lower-income families with members who are veterans" before the period. SEC. 604. PREVENTION OF SPECULATION ON ELIGIBLE SINGLE FAMILY PROPERTY. (a) RESIDENCY REQUIREMENTS. — (1) QUALIFYING HOUSEHOLDS.— Section 21A(c)(9)(K) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(9)(K)) is amended by striking "and (ii) whose adjusted income" and inserting the following: "(ii) who agrees to occupy the property as a principal residence for at least 12 months (except as provided in paragraph (2)(D)); (iii) who certifies in writing that the household intends to occupy the property as a principal residence for at least 12 months (except as provided in paragraph (2)(D)); and (iv) whose income". (2) LOWER-INCOME FAMILIES. —The first sentence of section 21A(c)(2)(B) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(2)) is amended by striking "by such families." and inserting the following: "by any such family who, except as provided in subparagraph (D), agrees to occupy the property as a principal residence for at least 12 months and who certifies in

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