I

107TH CONGRESS

1ST SESSION H. R. 1629

To increase the mortgage loan limits under the National Housing Act for

multifamily housing mortgage insurance.

IN THE HOUSE OF REPRESENTATIVES

APRIL 26, 2001

Mrs. ROUKEMA (for herself and Mr. FRANK) introduced the following bill;

which was referred to the Committee on Financial Services

A BILL

To increase the mortgage loan limits under the National

Housing Act for multifamily housing mortgage insurance.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘FHA Multifamily

5 Housing Mortgage Loan Limit Adjustment Act of 2001’’.

6 SEC. 2. MORTGAGE LOAN LIMITS FOR MULTIFAMILY

7 PROJECTS.

8 (a) SECTION 207 LIMITS.—Section 207(c)(3) of the

9 National Housing Act (12 U.S.C. 1713(c)(3)) is

10 amended—
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1 (1) by striking ‘‘$30,420’’, ‘‘$33,696’’,

2 ‘‘$40,248’’, ‘‘$49,608’’, ‘‘$56,160’’, and ‘‘$9,000’’

3 and inserting ‘‘$38,025’’, ‘‘$42,120’’, ‘‘$50,310’’,

4 ‘‘$62,010’’, ‘‘$70,200’’, and ‘‘$11,250’’, respectively;

5 and

6 (2) by striking ‘‘$35,100’’, ‘‘$39,312’’,

7 ‘‘$48,204’’, ‘‘$60,372’’, and ‘‘$68,262’’ and insert8 ing ‘‘$43,875’’, ‘‘$49,140’’, ‘‘$60,255’’, ‘‘$75,465’’,

9 and ‘‘$85,328’’, respectively.

10 (b) SECTION 213 LIMITS.—Section 213(b)(2) of the

11 National Housing Act (12 U.S.C. 1715e(b)(2)) is

12 amended—

13 (1) by striking ‘‘$30,420’’, ‘‘$33,696’’,

14 ‘‘$40,248’’, ‘‘$49,608’’, and ‘‘$56,160’’ and insert15 ing ‘‘$38,025’’, ‘‘$42,120’’, ‘‘$50,310’’, ‘‘$62,010’’,

16 and ‘‘$70,200’’, respectively; and

17 (2) by striking ‘‘$35,100’’, ‘‘$39,312’’,

18 ‘‘$48,204’’, ‘‘$60,372’’, and ‘‘$68,262’’ and insert19 ing ‘‘$43,875’’, ‘‘$49,140’’, ‘‘$60,255’’, ‘‘$75,465’’,

20 and ‘‘$85,328’’, respectively.

21 (c) SECTION 220 LIMITS.—Section 220(d)(3)(B)(iii)

22 of the National Housing Act (12 U.S.C.

23 1715k(d)(3)(B)(iii)) is amended—

24 (1) by striking ‘‘$30,420’’, ‘‘$33,696’’,

25 ‘‘$40,248’’, ‘‘$49,608’’, and ‘‘$56,160’’ and insert-
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1 ing ‘‘$38,025’’, ‘‘$42,120’’, ‘‘$50,310’’, ‘‘$62,010’’,

2 and ‘‘$70,200’’, respectively; and

3 (2) by striking ‘‘$35,100’’, ‘‘$39,312’’,

4 ‘‘$48,204’’, ‘‘$60,372’’, and ‘‘$68,262’’ and insert5 ing ‘‘$43,875’’, ‘‘$49,140’’, ‘‘$60,255’’, ‘‘$75,465’’,

6 and ‘‘$85,328’’, respectively.

7 (d) SECTION 221(d)(3) LIMITS.—Section

8 221(d)(3)(ii) of the National Housing Act (12 U.S.C.

9 1715l(d)(3)(ii)) is amended by striking ‘‘$33,638’’,

10 ‘‘$38,785’’, ‘‘$46,775’’, ‘‘$59,872’’, ‘‘$66,700’’,

11 ‘‘$35,400’’, ‘‘$40,579’’, ‘‘$49,344’’, ‘‘$63,834’’, and

12 ‘‘$70,070’’ and inserting ‘‘$42,048’’, ‘‘$48,481’’,

13 ‘‘$58,469’’, ‘‘$74,840’’, ‘‘$83,375’’, ‘‘$44,250’’,

14 ‘‘$50,724’’, ‘‘$61,680’’, ‘‘$79,793’’, and ‘‘$87,588’’, re15 spectively.

16 (e) SECTION 221(d)(4) LIMITS.—Section

17 221(d)(4)(ii) of the National Housing Act (12 U.S.C.

18 1715l(d)(4)(ii)) is amended by striking ‘‘$30,274’’,

19 ‘‘$34,363’’, ‘‘$41,536’’, ‘‘$52,135’’, ‘‘$59,077’’,

20 ‘‘$32,701’’, ‘‘$37,487’’, ‘‘$45,583’’, ‘‘$58,968’’, and

21 ‘‘$64,730’’ and inserting ‘‘$37,843’’, ‘‘$42,954’’,

22 ‘‘$51,920’’, ‘‘$65,169’’, ‘‘$73,846’’, ‘‘$40,876’’,

23 ‘‘$46,859’’, ‘‘$56,979’’, ‘‘$73,710’’, and ‘‘$80,913’’, re24 spectively.
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1 (f) SECTION 231 LIMITS.—Section 231(c)(2) of the

2 National Housing Act (12 U.S.C. 1715v(c)(2)) is

3 amended—

4 (1) by striking ‘‘$28,782’’, ‘‘$32,176’’,

5 ‘‘$38,423’’, ‘‘$46,238’’, and ‘‘$54,360’’ and insert6 ing ‘‘$35,978’’, ‘‘$40,220’’, ‘‘$48,029’’, ‘‘$57,798’’,

7 and ‘‘$67,950’’, respectively; and

8 (2) by striking ‘‘$32,701’’, ‘‘$37,487’’,

9 ‘‘$45,583’’, ‘‘$58,968’’, and ‘‘$64,730’’ and insert10 ing ‘‘$40,876’’, ‘‘$46,859’’, ‘‘$56,979’’, ‘‘$73,710’’,

11 and ‘‘$80,913’’, respectively.

12 (g) SECTION 234 LIMITS.—Section 234(e)(3) of the

13 National Housing Act (12 U.S.C. 1715y(e)(3)) is

14 amended—

15 (1) by striking ‘‘$30,420’’, ‘‘$33,696’’,

16 ‘‘$40,248’’, ‘‘$49,608’’, and ‘‘$56,160’’ and insert17 ing ‘‘$38,025’’, ‘‘$42,120’’, ‘‘$50,310’’, ‘‘$62,010’’,

18 and ‘‘$70,200’’, respectively; and

19 (2) by striking ‘‘$35,100’’, ‘‘$39,312’’,

20 ‘‘$48,204’’, ‘‘$60,372’’, and ‘‘$68,262’’ and insert21 ing ‘‘$43,875’’, ‘‘$49,140’’, ‘‘$60,255’’, ‘‘$75,465’’,

22 and ‘‘$85,328’’, respectively.

23 (h) REGULATIONS.—The Secretary of Housing and

24 Urban Development shall issue regulations necessary to

25 carry out the amendments made by subsections (a)
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1 through (g), which shall take effect not later than the expi2 ration of the 1-year period beginning on the date of the

3 enactment of this Act.

Æ