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[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4363 Referred in Senate (RFS)]

  2d Session
                                H. R. 4363

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             June 22, 2004

Received; read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 AN ACT

 
      To facilitate self-help housing homeownership opportunities.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Helping Hands for Homeownership Act 
of 2004''.

SEC. 2. ASSISTANCE FOR SELF-HELP HOUSING PROVIDERS.

    Paragraph (1) of section 11(b) of the Housing Opportunity Program 
Extension Act of 1996 (42 U.S.C. 12805 note) is amended by striking 
``dwelling'' and inserting ``dwellings''.

SEC. 3. DESIGNATION OF DOUG BEREUTER SECTION 502 SINGLE FAMILY HOUSING 
              LOAN GUARANTEE PROGRAM.

    (a) Congressional Findings.--The Congress finds that--
            (1) the Cranston-Gonzalez National Affordable Housing Act, 
        enacted November 28, 1990, established the section 502 single 
        family housing loan guarantee program of the Rural Housing 
        Service of the United States Department of Agriculture;
            (2) Congressman Doug Bereuter of Nebraska was the 
        legislative author of the single family housing loan guarantee 
        program;
            (3) 316,625 single family loans have been guaranteed under 
        the program since its implementation in 1991;
            (4) the program facilitates home ownership for low- to 
        moderate-income borrowers in rural areas and nonmetropolitan 
        communities who are unable to obtain conventional home mortgage 
        financing; and
            (5) in 2003, the average income of a borrower with a loan 
        guaranteed under the section 502 guarantee program was $34,124.
    (b) Designation.--Subsection (h) of section 502 of the Housing Act 
of 1949 (42 U.S.C. 1472(h)) is amended--
            (1) by redesignating paragraphs (1) through (13) as 
        paragraphs (2) through (14), respectively;
            (2) by inserting before paragraph (2) (as so redesignated) 
        the following new paragraph:
            ``(1) Short title.--This subsection may be cited as the 
        `Doug Bereuter Section 502 Single Family Housing Loan Guarantee 
        Act'.''; and
            (3) by striking the subsection designation and heading and 
        inserting the following:
    ``(h) Doug Bereuter Section 502 Single Family Housing Loan 
Guarantee Program.--''.
    (c) Conforming Amendments.--Subsection (h) of section 502 of the 
Housing Act of 1949 (42 U.S.C. 1472(h)), as amended by section 2 of 
this Act, is further amended--
            (1) in paragraph (5)(A), by striking ``paragraph (12)(A)'' 
        and inserting ``paragraph (13)''; and
            (2) in paragraph (14)--
                    (A) in subparagraph (A), by striking ``General'' 
                and inserting ``general''; and
                    (B) in subparagraph (E)--
                            (i) by striking ``paragraph (1) and 
                        paragraphs (2), (5), (6)(A), (7), and (9)'' and 
                        inserting ``paragraph (2) and paragraphs (3), 
                        (6), (7)(A), (8), and (10)''; and
                            (ii) by striking ``paragraphs (1) through 
                        (12)'' and inserting ``paragraphs (2) through 
                        (13)''.

            Passed the House of Representatives June 21, 2004.

            Attest:

                                                 JEFF TRANDAHL,

                                                                 Clerk.
```