Page:United States Statutes at Large Volume 106 Part 5.djvu/110

 106 STAT. 3748 PUBLIC LAW 102-550—OCT. 28, 1992 ^ (B) by adding at the end the following new subsection: of a mortgage under this section in connection with the assistance provided under section 8(y) of the United States Housing Act of 1937 shall be the obligation of the General Insurance Fund created pursuant to section 519 of this title. The provisions of subsections (a) through (h), (j), and (k) of section 204 shall apply to such mortgages, except that (1) all references in section 204 to the Mutual Mortgage Insurance Fund or the Fund shall be construed to refer to the General Insurance Fund, and (2) any excess amounts described in section 204(f)(1) shall be retained by the Secretary and credited to the General Insurance Fund.". (2) GENERAL INSURANCE FUND.— Section 519(e) of the National Housing Act (12 U.S.C. 1735c(e)) is amended by inserting after "203(b)" the following: "(except as provided in section 203(v))". (3) MORTGAGE INSURANCE TRANSITION PREMIUMS. —The matter preceding paragraph (1) in section 2103(b) of the Omnibus Budget Reconcihation Act of 1990 (12 U.S.C. 1709 note) is amended by inserting "or of the General Insurance Fund pursuant to section 203(v) of the National Housing Act" after "Fund". (4) CONFORMING AMENDMENT.—The third sentence of section 3(a)(1) of the United States Housing Act of 1937 (42 U.S.C. 1437a(a)(l)) is amended by inserting "or (y) or paying rent under section 8(c)(3)(B)" after "section 8(o)". Disadvantaged. SEC. 186. ENTERPRISE ZONE HOMEOWNERSHIP OPPORTUNITY 42 USC 12898a. GRANTS. (a) STATEMENT OF PURPOSE. — It is the purpose of this section— (1) to encourage homeownership by families in the United States who are not otherwise able to aftbrd homeownership; (2) to encourage the redevelopment of economically depressed areas; and (3) to provide better housing opportunities in federally approved and equivalent State-approved enterprise zones. (b) DEFINITIONS.— For purposes of this section the following definitions shall apply: (1) HOME. —The term "home" means any 1- to 4-family dwelling. Such term includes any dwelling unit in a condominium project or cooperative project consisting of not more than 4 dwelling units, any town house, and any manufactured home. (2) METROPOLITAN STATISTICAL AREA.— The term "metropolitan statistical area" means a metropolitan statistical area as established by the Oftlce of Management and Budget. (3) NONPROFIT ORGANIZATION. — The term "nonprofit organization" means a private nonprofit corporation, or other private nonprofit legal entity, that is approved by the Secretary as to financial responsibility. (4) SECRETARY. —The term "Secretary" means the Secretary of Housing and Urban Development. (5) STATE. —The term "State" means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, the Northern Mariana Islands, the Trust Territory of the Pacific Islands, . and any other territory or possession of the United States.
 * (v) Notwithstanding section 202 of this title, the insurance

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