Page:United States Statutes at Large Volume 114 Part 5.djvu/937

 PUBLIC LAW 106-569—DEC. 27, 2000 114 STAT. 2951 Code of 1986 (26 U.S.C. 7702B)), except that such contract shall also meet the requirements of— "(A) sections 9 (relating to disclosure), 24 (relating to suitability), and 26 (relating to contingent nonforfeiture) of the long-term care insurance model regulation promulgated by the National Association of Insurance Commissioners (as adopted as of September 2000); and "(B) section 8 (relating to contingent nonforfeiture) of the long-term care insurance model Act promulgated by the National Association of Insurance Commissioners (as adopted as of September 2000).". (2) APPLICABILITY.— The provisions of section 255(1) of the National Housing Act (as added by paragraph (1) of this subsection) shall apply only to mortgages closed on or after April 1, 2001. (d) STUDY OF SINGLE NATIONAL MORTGAGE LIMIT. — The Secretary of Housing and Urban Development shall conduct an actuarially based study of the effects of establishing, for mortgages insured under section 255 of the National Housing Act (12 U.S.C. 1715z- 20), a single maximum mortgage amount limitation in lieu of applicability of section 203(b)(2) of such Act (12 U.S.C. 1709(b)(2)). The study shall— (1) examine the effects of establishing such limitation at different dollar amounts; and (2) examine the effects of such various limitations on— (A) the risks to the General Insurance Fund established under section 519 of such Act; (B) the mortgage insurance premiums that would be required to be charged to mortgagors to ensure actuarial soundness of such Fund; and (C) take into consideration the various approaches to providing credit to borrowers who refinance home equity conversion mortgages insuied under section 255 of such Act. Not later than 180 days after the date of the enactment of this Act, the Secretary shall complete the study under this subsection and submit a report describing the study and the results of the study to the Committee on Banking and Financial Services of the House of Representatives and to the Committee on Banking, Housing, and Urban Affairs of the Senate. SEC. 202. ASSISTANCE FOR SELF-HELP HOUSING PROVIDERS. (a) REAUTHORIZATION. —Subsection (p) of section 11 of the Housing Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is amended to read as follows: "(p) AUTHORIZATION OF APPROPRIATIONS.— There are authorized to be appropriated to carry out this section such sums as may be necessary for fiscal year 2001.". (b) ELIGIBLE EXPENSES. —Section 11(d)(2)(A) of the Housing Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is amended by inserting before the period at the end the following: ", which may include reimbursing an organization, consortium, or affiliate, upon approval of any required environmental review, for nongrant amounts of the organization, consortium, or affiliate advanced before such review to acquire land". 12 USC 1715Z-20 note. Deadline.

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