Page:United States Statutes at Large Volume 108 Part 1.djvu/404

 108 STAT. 378 PUBLIC LAW 103-233—APR. 11, 1994 responsibilities referred to in the second sentence of clause (ii), "(B) LEAD-BASED PAINT POISONING PREVENTION.—In carrying out the requirements of section 302 of the Lead- Based Paint Poisoning Prevention Act, the Secretary may provide by regulation for the assumption of all or part of the Secretary's duties under such Act by qualified housing finance agencies, for purposes of this section. "(C) CERTIFICATION OF SUBSIDY LAYERING COMPLI- ANCE. —The requirements of section 102(d) of the Department of Housing and Urban Development Reform Act of 1989 may be satisfied in connection with a commitment to insure a mortgage under this subsection by a certification by a housing credit agency (including an entity established by a State that provides mortgage insurance) to the Secretary that the combination of assistance within the jurisdiction of the Secretary and other government assistance provided in connection with a property for which a mortgage is to be insured shall not be any greater than is necessary to provide affordable housing. "(10) DEFINITIONS. —For purposes of this subsection, the following definitions shall apply: "(A) MORTGAGE. — The term 'mortgage' means a first mortgage on real estate that is— "(i) owned in fee simple; or "(ii) subject to a leasehold interest that— "(I) has a term of not less than 99 years and is renewable; or "(II) has a remaining term that extends beyond the maturity of the mortgage for a period of not less than 10 years. "(B) FIRST MORTGAGE.—The term 'first mortgage' means a single first hen given to secure advances on, or the unpgdd purchase price of, real estate, under the laws of the State in which the real estate is located, together with the credit instrument, if any, secured thereby. Any other financing permitted on property insured under this section must be expressly subordinate to the insured mortgage. " (C) UNIT OF GENERAL LOCAL GOVERNMENT; STATE. — The terms 'unit of general local government' and 'State' have the same meanings as in section 102(a) of the Housing and Community Development Act of 1974.". (c) DEFINITIONS. — Section 544 of the Housing and Community Development Act of 1992 (12 U.S.C. 1707 note) is amended— (1) by striking paragraph (1) and inserting the following new paragraph: "(1) The term 'multifamily housing' means housing accommodations on the mortgaged property that are designed principally for residential use, conform to standards satisfactory to the Secretary, and consist of not less than 5 rental units on 1 site. These units may be detached, semidetached, row house, or multifamily structures."; and (2) by adding at the end the following new paragraph: "(5) The term 'qualified participating entity' means an entity approved by the Secretary for participation in the pilot program under this subsection, which may include—

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