Page:United States Statutes at Large Volume 122.djvu/2735

 12 2 STA T . 2 7 12 PUBLIC LA W 11 0– 2 89—J UL Y3 0, 2008 ‘ ‘ (A)seta s id ea n a mou nte q ua l to 4.2b asis p oints f o r ea ch dollar of unpaid principal balance of its total ne w business purchases and ‘‘( B ) allocate or otherwise transfer — ‘‘(i) 65 percent of such amounts to the S ecretar y of H ousin g and U rban D e v elopment to fund the Housing T rust F und established under section 13 3 8 and ‘‘(ii) 35 percent of such amounts to fund the C apital M agnet Fund established pursuant to section 133 9 . ‘‘(b) S USPEN S IO NO F CON TR I B UTIONS.—The Director shall tempo - rarily suspend allocations under subsection (a) by an enterprise upon a finding by the Director that such allocations— ‘‘(1) are contributing , or would contribute, to the financial instability of the enterprise; ‘‘(2) are causing, or would cause, the enterprise to be classi- fied as undercapitali z ed; or ‘‘(3) are preventing, or would prevent, the enterprise from successfully completing a capital restoration plan under section 1369C. ‘‘(c) P RO H IBITION OF P A SS-THROU G HOFCOSTOFA L LO C ATIONS.— The Director shall, by regulation, prohibit each enterprise from redirecting the costs of any allocation required under this section, through increased charges or fees, or decreased premiums, or in any other manner, to the originators of mortgages purchased or securitized by the enterprise. ‘‘(d) E NFORCE M ENT OF R E Q UIREMENTS ON ENTERPRISE.— Compliance by the enterprises with the requirements under this section shall be enforceable under subpart C. Any reference in such subpart to this part or to an order, rule, or regulation under this part specifically includes this section and any order, rule, or regulation under this section. ‘‘(e) REQUIRE D AMOUNT FOR H O PE RESER V E FUND.—Of the aggregate amount allocated under subsection (a), 25 percent shall be deposited into a fund established in the Treasury of the United States by the Secretary of the Treasury for such purpose. ‘‘(f) L IMITATION.— N o funds under this title may be used in con j unction with property ta k en by eminent domain, unless eminent domain is employed only for a public use, e x cept that, for purposes of this section, public use shall not be construed to include economic development that primarily benefits any private entity. ‘ ‘ SEC.13 3 8 . HOU S INGTR UST F UN D . ‘‘(a) ESTABLISHMENT AND PURPOSE.— ‘‘(1) I N GENERAL.—The Secretary of Housing and Urban Development (in this section referred to as the ‘Secretary ’ ) shall establish and manage a Housing Trust Fund, which shall be funded with amounts allocated by the enterprises under section 133 7 and any amounts as are or may be appropriated, transferred, or credited to such Housing Trust Fund under any other provisions of law. The purpose of the Housing Trust Fund under this section is to provide grants to States (as such term is defined in section 13 0 3) for use— ‘‘(A) to increase and preserve the supply of rental housing for extremely low- and very low-income families, including homeless families; and 12USC4568.Regulations .

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