[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1985 Reported in House (RH)]

                                                 Union Calendar No. 138
108th CONGRESS
  1st Session
                                H. R. 1985

                          [Report No. 108-247]

  To amend the National Housing Act to increase the maximum mortgage 
amount limit for FHA-insured mortgages for multifamily housing located 
                          in high-cost areas.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 6, 2003

    Mr. Gary G. Miller of California (for himself and Mr. Frank of 
Massachusetts) introduced the following bill; which was referred to the 
                    Committee on Financial Services

                           September 3, 2003

             Additional sponsors: Ms. Eshoo and Ms. Waters

                           September 3, 2003

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]
[For text of introduced bill, see copy of bill as introduced on May 6, 
                                 2003]

_______________________________________________________________________

                                 A BILL


 
  To amend the National Housing Act to increase the maximum mortgage 
amount limit for FHA-insured mortgages for multifamily housing located 
                          in high-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 Multifamily Loan Limit 
Adjustment Act of 2003''.

SEC. 2. MAXIMUM MORTGAGE AMOUNT LIMIT FOR MULTIFAMILY HOUSING IN HIGH-
              COST AREAS.

    In the National Housing Act, sections 207(c)(3), 213(b)(2)(B)(i), 
220(d)(3)(B)(iii)(II), 221(d)(3)(ii)(II), 221(d)(4)(ii)(II), 
231(c)(2)(B), and 234(e)(3)(B) (12 U.S.C. 1713(c)(3), 
1715e(b)(2)(B)(i), 1715k(d)(3)(B)(iii)(II), 1715l(d)(3)(ii)(II), 
1715l(d)(4)(ii)(II), 1715v(c)(2)(B)), and 1715y(e)(3)(B)) are each 
amended--
            (1) by striking ``110 percent'' and inserting ``170 
        percent''; and
            (2) by striking ``140 percent'' and inserting ``170 
        percent''.

SEC. 3. CATCH-UP ADJUSTMENTS TO CERTAIN MAXIMUM MORTGAGE AMOUNT LIMITS.

    (a) Section 207 Limits.--Section 207(c)(3) of the National Housing 
Act (12 U.S.C. 1713(c)(3)) is amended by striking ``$11,250'' and 
inserting ``$17,460''.
    (b) Section 213 Limits.--Section 213(b)(2)(A) of the National 
Housing Act (12 U.S.C. 1715e(b)(2)(A)) is amended--
            (1) by striking ``$38,025'', ``$42,120'', ``$50,310'', 
        ``$62,010'', and ``$70,200'' and inserting ``$41,207'', 
        ``$47,511'', ``$57,300'', ``$73,343'', and ``$81,708'', 
        respectively; and
            (2) by striking ``$49,140'', ``$60,255'', ``$75,465'', and 
        ``$85,328'' and inserting ``$49,710'', ``$60,446'', 
        ``$78,197'', and ``$85,836'', respectively.




                                                 Union Calendar No. 138

108th CONGRESS

  1st Session

                               H. R. 1985

                          [Report No. 108-247]

_______________________________________________________________________

                                 A BILL

  To amend the National Housing Act to increase the maximum mortgage 
amount limit for FHA-insured mortgages for multifamily housing located 
                          in high-cost areas.

_______________________________________________________________________

                           September 3, 2003

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed