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).’’.
Passed the House of Representatives October 7,
1994.
Attest:
Clerk.
103D CONGRESS
2D SESSION
H. R. 5245
AN ACT
To provide for the extension of certain programs
relating to housing and community development,
and for other purposes.