[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4396 Introduced in House (IH)]

103d CONGRESS
  2d Session
                                H. R. 4396

   To amend section 203 of the National Housing Act to increase the 
  maximum mortgage amount limitation under the single family housing 
   mortgage insurance program of the Secretary of Housing and Urban 
              Development for homes in nonhigh-cost areas.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 11, 1994

 Mr. Taylor of North Carolina introduced the following bill; which was 
    referred to the Committee on Banking, Finance and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
   To amend section 203 of the National Housing Act to increase the 
  maximum mortgage amount limitation under the single family housing 
   mortgage insurance program of the Secretary of Housing and Urban 
              Development for homes in nonhigh-cost areas.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``FHA Mortgage Upgrade Act''.

SEC. 2. MAXIMUM DOLLAR AMOUNT LIMITATION.

    Subparagraph (A) of the first sentence of section 203(b)(2) of the 
National Housing Act (12 U.S.C. 1709(b)(2)(A)) is amended by striking 
``the dollar amount limitation in effect under this section for the 
area on May 12, 1992'' and inserting the following: ``$100,000 in the 
case of property upon which there is located a dwelling designed 
principally for a 1-family residence, $112,600 in the case of a 2-
family residence, $136,300 in the case of a 3-family residence, 
$158,500 in the case of 4-family residence''.

                                 <all>