Page:United States Statutes at Large Volume 108 Part 1.djvu/368

 108 STAT. 342 PUBLIC LAW 103-233-APR. 11, 1994 Public Law 103-283 103d Congress An Act Apr. 11, 1994 [S. 1299] Multifamily Housing Property Disposition Reform Act of 1994. 12 USC 1701 note. To amend section 203 of the Housing and Community Development Amendments of 1978 to provide for the disposition of multifamily properties owned by the Secretary of Housing and Urban Development, to provide for other reforms in programs administered by the Secretary, and to make certain technical amendments, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE AND TABLE OF CONTENTS. (a) SHORT TITLE. —This Act may be cited as the "Multifamily Housing Property Disposition Reform Act of 1994". (b) TABLE OF CONTENTS.— Sec. 1. Short title and table of contents. TITLE I—MULTIFAMILY PROPERTY DISPOSITION REFORM Sec. 101. Multifamily property disposition. Sec. 102. Repeal of State agency multifamily property disposition demonstration. Sec. 103. Preventing mortgage defaults on multifamily housing projects. Sec. 104. Interest rates on assigned mortgages. Sec. 105. Authorization of appropriations. TITLE II—OTHER PROGRAM REFORMS Subtitle A—Home Investment Partnerships Program Sec. 201. Participation by State agencies or instrumentalities. Sec. 202. Simplification of program-wide income targeting for rental housing. Sec. 203. Homeownership units. Sec. 204. Simplification of matching requirements. Sec. 205. Repeal of separate audit requirement. Sec. 206. Environmental review requirements. Sec. 207. Use of CDBG funds for HOME program expenses. Sec. 208. Flexibility of HOME program for disaster areas. Sec. 209. Applicability and regulations. Subtitle B—HOPE Homeownership Program Sec. 221. Matching requirement under HOPE for homeownership of single family homes program. Subtitle C—Community Development Block Grants Sec. 231. Section 108 eligible activities. Sec. 232. Economic development grants. Sec. 233. Guarantee of obligations backed by section 108 loans. Sec. 234. Flexibility of CDBG program for disaster areas. TITLE III—TECHNICAL AMENDMENTS Sec. 301. Definition of "families". Sec. 302. Elimination of requirement to identify CIAP replacement needs. Sec. 303. Project-based accounting. Sec. 304. Operating subsidy adjustments for anticipated fraud recoveries.

�