Page:United States Statutes at Large Volume 106 Part 5.djvu/322

 106 STAT. 3960 PUBLIC LAW 102-550—OCT. 28, 1992 that are purchased and contribute to the achievement of such goals— (i) 45 percent shall be mortgages on multifamily housing affordable to low-income families; and (ii) 55 percent shall be mortgages on multifamily housing in which— (I) at least 20 percent of the units are affordable to families whose incomes do not exceed 50 percent of the median income for the area; or (II) at least 40 percent of the units are affordable to very low-income families. (B) SINGLE FAMILY MORTGAGES.— The special affordable housing goals established under paragraphs (1) and (2) shall provide that, of mortgages on single fandly housing that are purchased and contribute to the achievement of such goals— (i) 45 percent shall be mortgages of low-income families who live in census tracts in which the median income does not exceed 80 percent of the area median income; and (ii) 55 percent shall be mortgages of very lowincome families. (C) COMPLIANCE WITH SPECIAL AFFORDABLE HOUSING GOALS. —Only the portion of mortgages on multifamily housing purchased by an enterprise that are attributable to units affordable to low-income families shall contribute to the achievement of the special affordable housing goals under subparagraph (A)(ii). (4) IMPLEMENTATION. —The Secretary shall establish any requirements necessary to implement the transition provisions under this subsection by notice, after providing the enterprises with an opportunity to review and comment not less than 30 days before the issuance of such notice. Such notice shall be issued not later than the expiration of the 90-day period beginning upon the date of the enactment of this Act and shall be effective upon issuance. 12 USC 4564. SEC. 1334. CENTRAL CITIES, RURAL AREAS, AND OTHER UNDER* SERVED AREAS HOUSING GOAL. (a) IN GENERAL.— The Secretary shall establish an annual goal for the purchase by each enterprise of mortgages on housing located in central cities, rural areas, and other underserved areas. The Secretary may establish separate subgoals within the goal under this section and such subgoals shall not be enforceable under the provisions of section 1336, any other provision of this title, or any provision of the Federal National Mortgage Association Charter Act or the Federal Home Loan.Mortgage Corporation Act. (b) FACTORS TO BE APPLIED.— In establishing the housing goal under tiiis section, the Secretary shall consider— (1) urban and rural housing needs and the housing needs of underserved areas; (2) economic, housing, and demographic conditions; (3) the performance and efforts of the enterprises toward achieving the central cities, rural areas, and other underserved areas housing goal in previous years;

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