§1715z–11a. Flexible authority

During fiscal year 1997 and fiscal years thereafter, the Secretary may manage and dispose of multifamily properties owned by the Secretary, including, for fiscal years 1997, 1998, 1999, and 2000, the provision of grants and loans from the General Insurance Fund (12 U.S.C. 1735c) for the necessary costs of rehabilitation, demolition, or construction on the properties (which shall be eligible whether vacant or occupied), and multifamily mortgages held by the Secretary on such terms and conditions as the Secretary may determine, notwithstanding any other provision of law.

( Pub. L. 104–204, title II, §204, Sept. 26, 1996, 110 Stat. 2894 ; Pub. L. 105–65, title II, §213, Oct. 27, 1997, 111 Stat. 1366 ; Pub. L. 105–276, title II, §206, Oct. 21, 1998, 112 Stat. 2484 ; Pub. L. 106–74, title V, §537, Oct. 20, 1999, 113 Stat. 1122 .)

Codification

Section was enacted as part of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997, and not as part of the National Housing Act which comprises this chapter.

Amendments

1999-Pub. L. 106–74 substituted "1999, and 2000" for "and 1999" and ", demolition, or construction on the properties (which shall be eligible whether vacant or occupied)" for "or demolition".

1998-Pub. L. 105–276 substituted "fiscal years 1997, 1998, and 1999" for "fiscal years 1997 and 1998".

1997-Pub. L. 105–65 inserted ", including, for fiscal years 1997 and 1998, the provision of grants and loans from the General Insurance Fund (12 U.S.C. 1735c) for the necessary costs of rehabilitation or demolition," after "owned by the Secretary".