1437e(j)(2)(G)(i)) is amended by striking ‘‘fiscal years
1993 and 1994’’ and inserting ‘‘fiscal year 1995’’.
(h) NATIONAL HOMEOWNERSHIP FUND.—Section
172 of the bill, H.R. 3838 (103d Congress), as passed by
the House of Representatives on July 22, 1994, is hereby
enacted into law.
(i) TREATMENT OF CERTAIN PROJECTS.—
(1) CONVERSION OF SECTION 23 PROJECT.—
From amounts available for the conversion of the
Tamaqua Highrise project in the Borough of
Tamaqua, Pennsylvania, from a leased housing con-
tract under section 23 of the United States Housing
Act of 1937 to tenant-based assistance under section
8 of such Act, the Secretary of Housing and Urban
Development shall, to the extent such amounts are
made available in appropriation Acts, enter into an
obligation for the conversion of the project to a
project-based rental assistance contract under sec-
tion 8 of such Act, notwithstanding the requirement
for rehabilitation or the percentage limitations under
section 8(d)(2) of such Act.
(2) COMPLIANCE
WITH
REHABILITATION
RE-
QUIREMENT.—Rehabilitation activities undertaken
by E.T.C. Enterprises in connection with 16 scat-
tered-site dwelling units that were rehabilitated to
provide housing for low-income families and are lo-
cated in Perth Amboy, New Jersey, and rehabilita-
tion activities undertaken by Pennrose Properties in
connection with 40 dwelling units for senior citizens
in the Providence Square development located in
New Brunswick, New Jersey, are hereby deemed to
have been conducted pursuant to the approval of
and an agreement with the Secretary of Housing
and Urban Development under clauses (i) and (ii) of
the third sentence of section 8(d)(2)(A) of the Unit-
ed States Housing Act of 1937.
(3) ELIGIBILITY OF PUBLIC HOUSING FOR DEM-
OLITION.—Section 415 of the Department of Hous-
ing and Urban Development—Independent Agencies
Appropriations Act, 1988 (Public Law 100–202;
101 Stat. 1329–213), is amended by striking
‘‘George Loving Place, at 3320 Rupert Street,
Edgar Ward Place, at 3901 Holystone, Elmer Scott
Place, at 2600 Morris, in Dallas, Texas, or’’.
SEC. 3. RURAL HOUSING.
(a) UNDERSERVED
AREAS
SET-ASIDE.—Section
509(f)(4)(A) of the Housing Act of 1949 (42 U.S.C.
1479(f)(4)(A)) is amended—
(1) in the first sentence, by striking ‘‘fiscal
years 1993 and 1994’’ and inserting ‘‘fiscal year
1995’’; and
(2) in the second sentence, by striking ‘‘each’’.
(b) RURAL MULTIFAMILY RENTAL HOUSING.—Sec-
tion 515(b) of the Housing Act of 1949 (42 U.S.C.
1485(b)) is amended—
(1) by striking paragraphs (2) and (4);
(2) by redesignating paragraph (3) as para-
graph (4); and
(3) by inserting after paragraph (1) the follow-
ing new paragraphs:
‘‘(2) such a loan may be made for a period of
up to 50 years from the making of the loan;
‘‘(3) the terms and conditions of such a loan
shall provide for periodic payments, during the term
of the loan, based upon a schedule for complete am-
ortization of the loan over a 50-year period and for
payment of any outstanding amounts due under the
loan not later than the expiration of the term of the
loan;’’.
(c) RURAL RENTAL HOUSING FUNDS
FOR NON-
PROFIT
ENTITIES.—The 
first 
sentence 
of 
section
515(w)(1) of the Housing Act of 1949 (42 U.S.C.
1485(w)(1)) is amended by striking ‘‘fiscal years 1993
and 1994’’ and inserting ‘‘fiscal year 1995’’.
(d) LOAN GUARANTEES FOR RURAL MULTIFAMILY
RENTAL HOUSING LOANS.—Section 517 of the bill, H.R.
3838 (103d Congress), as passed by the House of Rep-
resentatives on July 22, 1994, is hereby enacted into law.
(e) ELIGIBILITY OF AREA FOR RURAL HOMEOWNER-
SHIP LOANS.—Section 502 of the Housing Act of 1949
(42 U.S.C. 1472) is amended by adding at the end the
following new subsection:
‘‘(i) Notwithstanding section 520, the Secretary may
make loans under this section for properties in the Pine
View West Subdivision, located in Gibsonville, North Caro-
lina, in the same manner as provided under this section
for properties in rural areas.’’.
(f) DEFINITION OF RURAL AREA.—The last sentence
of section 520 of the Housing Act of 1949 (42 U.S.C.
1490) is amended by striking ‘‘city of’’ and inserting
‘‘cities of South Tucson, Arizona, and’’.
SEC. 4. MORTGAGE INSURANCE AND SECONDARY MORT-
GAGE MARKET PROGRAMS.
(a) MULTIFAMILY
HOUSING
FINANCE.—Section
542(b)(5) of the Housing and Community Development
Act of 1992 (12 U.S.C. 1707 note) is amended by striking
‘‘and 1994’’ and inserting ‘‘, 1994, and 1995’’.
(b) ASSESSMENT COLLECTION DATES FOR OFFICE
OF FEDERAL HOUSING ENTERPRISE OVERSIGHT.—Sec-
tion 1316(b) of the Housing and Community Development
Act of 1992 (12 U.S.C. 4516(b)) is amended by striking
paragraph (2) and inserting the following new paragraph:
‘‘(2) TIMING OF PAYMENT.—The annual assess-
ment shall be payable in installments on October 1
and April 1 of each fiscal year.’’.
SEC. 5. COMMUNITY DEVELOPMENT.
(a) CERTAIN CDBG ASSISTANCE.—Section 916(f) of
the Cranston-Gonzalez National Affordable Housing Act
(42 U.S.C. 5306 note) is amended by striking ‘‘Act shall
apply only with respect to fiscal years 1991, 1992, 1993,
and 1994’’ and inserting ‘‘section shall not apply to fiscal
years after fiscal year 1995’’.
(b) CDBG PUBLIC SERVICES LIMITATIONS.—Section
105(a)(8) of the Housing and Community Development
Act of 1974 (42 U.S.C. 5305(a)(8)) is amended—
(1) by striking ‘‘and’’ after ‘‘under this para-
graph,’’;
(2) by striking ‘‘fiscal year 1994’’ and inserting
‘‘fiscal years 1994 and 1995’’; and
(3) by inserting before the semicolon at the end
the following: ‘‘, and except that of any amount of
assistance under this title (including program in-
come) to the Cities of Vallejo and Benecia and to
Napa County, in California, such cities and county
may use not more than 20 percent in fiscal year
1995 for activities under this paragraph’’.
(c) USE OF GRANT AMOUNTS.—
(1) PITTSBURGH, 
PENNSYLVANIA.—Notwith-
standing any other provision of law, the city of
Pittsburgh, Pennsylvania, may retain any amounts
provided under an urban development action grant
for Project No. B–86–AA–42–0275 and use such
funds for the Central Pittsburgh Plaza project, if
such project is commenced not later than 6 months
after the date of the enactment of this Act.
(2) WILKES-BARRE, PENNSYLVANIA.—Notwith-
standing any other provision of law, the city of
Wilkes-Barre, 
Pennsylvania, 
may 
retain 
any
amounts provided under an urban development ac-
tion grant for Project No. B–87–AA–42–1211 and
use such funds for the Northeastern Pennsylvania
Economic Development project, if such project is
commenced not later than 6 months after the date
of enactment of this Act.
(3) RICHMOND, VIRGINIA.—The Secretary of
Housing and Urban Development shall cancel the in-
debtedness of the city of Richmond, Virginia, relat-
ing to the categorical program settlement grant pro-
vided to the city to settle four urban renewal pro-
grams (Project No. B–78–UR–51–0019). The city
of Richmond, Virginia, is hereby relieved of all liabil-
ity to the Federal Government for such grant and
any fees and charges payable in connection with
such grant.
(4) LOCKPORT TOWNSHIP, ILLINOIS.—The Sec-
retary of Housing and Urban Development shall
cancel the indebtedness of Lockport Township, Illi-
nois, relating to the public facilities loan for Project
No. ILL–11–PFL0112. Lockport Township, Illinois,
is hereby relieved of all liability to the Federal Gov-
ernment for the outstanding principal balance on
such loan, the amount of accrued interest on such
loan, and any other fees and charges payable in con-
nection with such loan.
(5) BUDGET
COMPLIANCE.—Paragraphs (3)
and (4) of this subsection shall be effective only to
the extent, or in such amounts, as are provided in
appropriation Acts.
(d) NEW TOWNS DEMONSTRATION PROGRAM.—
(1) INSURANCE
AUTHORITY.—The first sen-
tence of section 1104(d) of the Housing and Com-
munity Development Act of 1992 (42 U.S.C. 5318
note) is amended to read as follows: ‘‘To the extent
provided in appropriation Acts, the Secretary shall
use any authority provided pursuant to section
531(b) of the National Housing Act to enter into
commitments to insure loans and mortgages under
this section in fiscal year 1995 with an aggregate
principal amount not exceeding such sums as may
be necessary to carry out the demonstration under
this title.’’.
(2) SECOND MORTGAGE ASSISTANCE.—Section
1105(e) of the Housing and Community Develop-
ment Act of 1992 (42 U.S.C. 5318 note) is amended
to read as follows:
‘‘(5) AUTHORIZATION
OF
APPROPRIATIONS.—
There are authorized to be appropriated for fiscal
year 1995 such sums as may be necessary for pro-
viding assistance under this section.’’.
(3) COMMUNITY DEVELOPMENT ASSISTANCE.—
Section 1106(h) of the Housing and Community De-
velopment Act of 1992 (42 U.S.C. 5318 note) is
amended to read as follows:
‘‘(8) AUTHORIZATION
OF
APPROPRIATIONS.—
There are authorized to be appropriated for fiscal
year 1995 such sums as may be necessary for assist-
ance under this section.’’.
(e) ECONOMIC
DEVELOPMENT
GRANTS.—Section
108(q) of the Housing and Community Development Act
of 1974 is amended by adding at the end the following
new paragraph:
‘‘(5) AUTHORIZATION
OF
APPROPRIATIONS.—
Using any amounts appropriated for grants under
this subsection for fiscal year 1995, the Secretary
shall make a grant in the amount of $3,650,000 in
such fiscal year to the Earth Conservancy in
Luzerne County, Pennsylvania, which shall be used
for carrying out a demonstration of using innovative
environmental technologies to reclaim land used for
community and economic development purposes that
has been damaged by anthracite coal mining activi-
ties.’’.
SEC. 6. MISCELLANEOUS PROVISIONS.
(a) STATE AGENCIES AS SURETIES.—Section 9304
of title 31, United States Code, is amended by adding at
the end the following new subsection:
‘‘(c) STATE AGENCIES.—A State agency, including
any financing authority established by any State, which
meets the requirements of paragraphs (2) and (3) of sub-
section (a) may be treated as a surety corporation for pur-
poses of this chapter. Notwithstanding any other provision
of law, user fees collected by the Financial Management
Services incident to sections 9304 through 9309 of this
title shall be credited to the appropriation of that agency
and may be retained without fiscal year limitation to carry
out the provisions of such sections.’’.
(b) CLARIFICATION
OF
EFFECTIVE
DATE
FOR
AMENDMENT RELATING TO COMMERCIAL MORTGAGE RE-
LATED SECURITIES.—Section 347(d) of the Riegle Com-
munity Development and Regulatory Improvement Act of
1994 (Public Law 103–325; 108 Stat. 2241) is amended
to read as follows:
‘‘(d) EFFECTIVE DATE.—
‘‘(1) IN GENERAL.—Except as provided in para-
graph (2), the amendment made by subsection (a)
shall take effect as of the date of the enactment of
the Housing Programs Extension Act of 1994.
‘‘(2) NATIONAL AND INSURED STATE BANKS.—
The amendment made by subsection (a) shall not
apply with respect to national banks or, in accord-
ance with section 24 of the Federal Deposit Insur-
ance Act, insured State banks before the effective
date of final regulations prescribed by the Comptrol-
ler of the Currency pursuant to subsection (c).’’.
Æ