Page:United States Statutes at Large Volume 112 Part 3.djvu/659

 PUBLIC LAW 105-276—OCT. 21, 1998 112 STAT. 2489 MULTIFAMILY HOUSING INSTITUTE SEC. 221. Notwithstanding any other provision of law, the Secretary may, from time to time, as determined necessary to assist the Department in managing its multifamily assets including analyzing, tracking and evaluating its portfolio of FHA-insured and other mortgages and properties and assisting the Department in understanding and reducing the risk involved in its mortgage restructuring, insuring and guaranteeing activities, provide data to, and purchase data from, any nonprofit, industry supported, on-line provider of nationwide, multifamily housing loan and property data services. MULTIFAMILY MORTGAGE AUCTIONS SEC. 222. Section 221(g)(4)(C) of the National Housing Act 12 USC 1715/. is amended— (1) in the first sentence of clause (viii), by striking "September 30, 1996" and inserting "December 31, 2002"; and (2) by adding at the end the following: "(ix) The authority of the Secretary to conduct multifamily auctions under this paragraph shall be effective for any fiscal year only to the extent and in such amounts as are approved in appropriations Acts for the costs of loan guarantees (as defined in section 502 of the Congressional Budget Act of 1974), including the cost of modifying loans.". FUNDING CORRECTION SEC. 223. Notwithstanding any other provision of law, of the $1,250,000 made available pursuant to Public Law 102-389 for economic revitalization and infrastructure repair in Montpelier, Vermont, $250,000 is available for the Central Vermont Revolving Loan Fund administered by the Central Vermont Community Action Council. ANNUAL REPORT ON MANAGEMENT DEFICIENCIES SEC. 224.(a) IN GENERAL. —Section 203 of the National Housing Act (12 U.S.C. 1709) is amended by adding at the end the following: "(x) MANAGEMENT DEFICIENCIES REPORT.— "(1) IN GENERAL.—Not later than 60 days after the date of the enactment of this subsection, and annually thereafter, the Secretary shall submit to Congress a report on the plan of the Secretary to address each material weakness, reportable condition, and noncompliance with an applicable law or regulation (as defined by the Director of the Office of Management and Budget) identified in the most recent audited financial statement of the Federal Housing Administration submitted under section 3515 of title 31, United States Code. "(2) CONTENTS OF ANNUAL REPORT. —Each report submitted under paragraph (1) shall include— "(A) an estimate of the resources, including staff, j information systems, and contract assistance, required to address each material weakness, reportable condition, and noncompliance with an applicable law or regulation described in paragraph (1), and the costs associated with those resources;

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