§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.”