§12871. Program authority

(a) In general

The Secretary is authorized to make-

(1) planning grants to enable applicants to develop homeownership programs; and

(2) implementation grants to enable applicants to carry out homeownership programs.

(b) Authority to reserve housing assistance

In connection with a grant under this part, the Secretary may reserve authority to provide assistance under section 1437f of this title to the extent necessary to provide rental assistance for a nonpurchasing tenant who resides in the project on the date the Secretary approves the application for an implementation grant, for use by the tenant in another project.

( Pub. L. 101–625, title IV, §421, Nov. 28, 1990, 104 Stat. 4162 ; Pub. L. 102–550, title I, §181(a)(2)(B)(i), Oct. 28, 1992, 106 Stat. 3735 .)

Editorial Notes

References in Text

This part, referred to in subsec. (b), was in the original "this subtitle", meaning subtitle B (§§421–431) of title IV of Pub. L. 101–625, Nov. 28, 1990, 104 Stat. 4162 , which enacted this part and amended section 1709 of Title 12, Banks and Banking.

Amendments

1992-Subsec. (c). Pub. L. 102–550 struck out subsec. (c) which read as follows: "Authorization of Appropriations.-There is authorized to be appropriated for grants under this part $51,000,000 for fiscal year 1991 and $280,000,000 for fiscal year 1992. Any amounts appropriated pursuant to this subsection shall remain available until expended."