Page:United States Statutes at Large Volume 105 Part 2.djvu/831

 PUBLIC LAW 102-233—DEC. 12, 1991 105 STAT. 1783 property. The Corporation shall sell eligible multifamily housing property at the net realizable market value. The Corporation may agree to sell eligible multifamily housing property at a price below the net realizable market value to the extent necessary to facilitate an expedited sale of such property and enable a public agency or nonprofit organization to comply with the lower-income occupancy requirements applicable to such property under paragraph (3). The Corporation may sell eligible single family property or eligible condominium property to qualifying households, nonprofit organizations, and public agencies without regard to any minimum sale price.". SEC. 610. AUTHORITY FOR RTC TO PARTICIPATE IN MULTIFAMILY FINANCING POOLS. Section 21A(c)(6)(A)(ii) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(6)(A)(ii)) is amended by adding at the end the following new sentence: "In providing financing for combinations of eligible multifamily housing properties under this subsection, the Corporation may hold a participating share, including a subordinate participation.". SEC. 611. CREDIT ENHANCEMENT FOR CERTAIN TAX-EXEMPT BONDS. Section 21A(c)(8)(B) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(8)(B)) is amended— (1) by striking "(B) CREDIT ENHANCEMENT.—With respect to" and inserting the following: "(B) CREDIT ENHANCEMENT. — "(i) IN GENERAL.— With respect to"; and (2) by adding at the end the following new clause: "(ii) CERTAIN TAX-EXEMPT BONDS. —The Corporation may provide credit enhancements with respect to taxexempt bonds issued on behalf of nonprofit organizations pursuant to section 103, and subpart A of part IV of subchapter A of chapter 1, of the Internal Revenue Code of 1986, with respect to the disposition of eligible residential properties for the purposes described in clause (i).". SEC. 612. PERMANENT EFFECTIVENESS OF EXEMPTION FOR TRANS- 12 USC 1441a ACTIONS WITH INSURED DEPOSITORY INSTITUTIONS. note. Notwithstanding section 203 of the Resolution Trust Corporation Funding Act of 1991, the amendment made by section 201(b) of such Act shall apply on and after the date of the enactment of this Act. SEC. 613. TRANSFER OF CERTAIN ELIGIBLE RESIDENTIAL PROPERTIES TO STATE HOUSING AGENCIES FOR DISPOSITION. Section 21A(c) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)) is amended by adding at the end the following new paragraph: "(12) TRANSFER OF CERTAIN ELIGIBLE RESIDENTIAL PROPERTIES TO STATE HOUSING AGENCIES FOR DISPOSITION. —Notwithstanding paragraphs (2), (3), (5), and (6), the Corporation may transfer eligible residential properties to the State housing finance / agency or any other State housing agency for the State in which / the property is located, or to any local housing agency in whose

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