A joint resolution to provide for the temporary extension of certain insurance programs relating to housing and community development, and for other purposes.
PL 97-289 (H.J.Res.612), enacted 10/06/1982

96 STAT. 1230 
PUBLIC LAW 97-289—OCT. 6, 1982 
Public Law 97-289 
97th Congress 
Joint Resolution 
Oct. 6, 1982 
[H.J. Res. 612] 
Housing and 
community 
development, 
extension of 
insurance 
programs. 
12 u s e 1703. 
12 u s e 1715h. 
12 u s e 1715Z. 
12 u s e 1715z. 
12 u s e 1715Z-1. 
12 u s e 1715Z-9. 
12USei715z-10. 
12 u s e 1748h-l. 
12 u s e 1748h-2. 
12 u s e 1749bb. 
12 u s e 1749aaa. 
To provide for the temporary extension of certain insurance programs relating to 
housing and community development, and for other purposes. 
Resolved by the Senate and House of Representatives of the United 
States of America in Congress assembled, 
EXTENSION OF FEDERAL HOUSING ADMINISTRATION MORTGAGE 
INSURANCE PROGRAMS 
SECTION 1. (a) Section 2(a) of the National Housing Act is amended 
by striking out "October 1, 1982" in the first sentence and inserting 
in lieu thereof "May 21,1983". 
(b) Section 217 of such Act is amended by striking out "September 
30,1982" and inserting in lieu thereof "May 20,1983". 
(c) Section 221(f) of such Act is amended by striking out "Septem-
ber 30,1982" in the fifth sentence and inserting in lieu thereof "May 
20,1983". 
(d) Section 235 of such Act is amended— 
(1) in subsection (hXD, by striking out "September 30, 1982" 
each place it appears in the fourth sentence and inserting in 
lieu thereof "May 20,1983"; 
(2) in subsection (m), by striking out "September 30,1982" and 
inserting in lieu thereof "May 20,1983"; and 
(3) in subsection (qXD, by striking out "September 30, 1982" 
and inserting in lieu thereof "May 20,1983". 
(e) Section 236(n) of such Act is amended by striking out "Septem-
ber 30,1982" and inserting in lieu thereof "May 20,1983". 
(f) Section 244(d) of such Act is amended— 
(1) by striking out "September 30, 1982" in the first sentence 
and inserting in lieu thereof "May 20,1983"; and 
(2) by striking out "October 1, 1982" in the second sentence 
and inserting in lieu thereof "May 21,1983". 
(g) Section 245(a) of such Act is amended by striking out "Septem-
ber 30,1982" and inserting in lieu thereof "May 20,1983". 
(h) Section 809(f) of such Act is amended by striking out "Septem-
ber 30, 1982" in the second sentence and inserting in lieu thereof 
"May 20,1983". 
(i) Section 810(k) of such Act is amended by striking out "Septem-
ber 30, 1982" in the second sentence and inserting in lieu thereof 
"May 20,1983". 
(j) Section 1002(a) of such Act is amended by striking out "Septem-
ber 30, 1982" in the second sentence and inserting in lieu thereof 
"May 20,1983". 
(k) Section 1101(a) of such Act is amended by striking out "Sep-
tember 30,1982" in the second sentence and inserting in lieu thereof 
"May 20,1983". 
PUBLIC LAW 97-289—OCT. 6. 1982 
96 STAT. 1231 
FLEXIBLE INTEREST RATE AUTHORITY 
SEC. 2. Section 3(a)(1) of the Act entitled "An Act to amend 
chapter 37 of title 38 of the United States Code with respect to the 
veterans' home loan program, to amend the National Housing Act 
with respect to interest rates on insured mortgages, and for other 
purposes", approved May 7, 1968 (12 U.S.C. 1709-1), is amended by 
Striking out "October 1,1982" and inserting in lieu thereof "May 21, 
1983". 
EXTENSION OF RURAL HOUSING AUTHORITIES 
SEC. 3. (a) Section 515(b)(5) of the Housing Act of 1949 is amended 
by striking out "September 30, 1982" and inserting in lieu thereof 
"May 20,1983". 
(b) Section 517(a)(1) of such Act is amended by striking out "Sep-
tember 30, 1982" and inserting in lieu thereof "May 20, 1983". 
(c) Section 523(f) of such Act is amended by striking out "Septem-
ber 30, 1982" each place it appears and inserting in lieu thereof 
"May 20,1983". 
OTHER 
INSURANCE 
PROGRAMS 
SEC. 4. (a) Section 1319 of the National Flood Insurance Act of 
1968 is amended by striking out "September 30,1982" and inserting 
in lieu thereof "May 20,1983". 
(b) Section 1336(a) of such Act is amended by striking out "Sep-
tember 30, 1982" and inserting in lieu thereof "May 20, 1983". 
(c) Section 1201(bKl) of the National Housing Act is amended by 
striking out "September 30, 1982" and inserting in lieu thereof 
"May 20,1983". 
38 use 1801 et 
seq. 
42 use 1485. 
42 use 1487. 
42 use 1490c. 
42 u s e 4026. 
42 use 4056. 
12 use 1749bbb. 
COMMUNITY DEVELOPMENT DEFINITIONS 
SEC. 5. Section 102(a) of the Housing and Community Develop-
ment Act of 1974 is amended— 
(1) in paragraph (4), by striking out "under clause (B) of this 
paragraph shall continue to" and inserting in lieu thereof 
"under this paragraph because the population of such city 
exceeded fifty thousand shall"; 
(2) in paragraph (4), by striking out "1982" and inserting in 
lieu thereof "1983"; and 
(3) in the second sentence of paragraph (6)— 
(A) by striking out "for fiscal year 1982" the first place it 
appears and inserting in lieu thereof "before October 1, 
1983,"; 
(B) by striking out "for fiscal year 1982" the second place 
it appears and inserting in lieu thereof "through September 
30,1983,"; and 
(C) by striking out "that fiscal year" and inserting in lieu 
thereof "through such date". 
42 use 5302. 
96 STAT. 1232 
PUBLIC LAW 97-289—OCT. 6, 1982 
FEDERAL HOME LOAN MORTGAGE CORPORATION 
SEC. 6. Section 306 of the Federal Home Loan Mortgage Corpora-
12 use 1455. 
tion Act is amended by adding at the end thereof the following new 
subsection: 
"(f) The Corporation may have preferred stock on such terms and 
conditions as the Board of Directors shall prescribe. Any preferred 
stock shall not affect the status of the capital stock issued under 
12 use 1453. 
section 304 as nonvoting common stock.". 
Approved October 6, 1982. 
LEGISLATIVE HISTORY—H.J. Res. 612: 
eONGRESSIONAL RECORD, Vol. 128 (1982): 
Sept. 29, considered and passed House. 
Oct. 1, considered and passed Senate.