[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4110 Introduced in House (IH)]






108th CONGRESS
  2d Session
                                H. R. 4110

            To facilitate homeownership in high-cost areas.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 1, 2004

    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

_______________________________________________________________________

                                 A BILL


 
            To facilitate homeownership 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 Single Family Loan Limit 
Adjustment Act of 2004''.

SEC. 2. FHA SINGLE FAMILY HOUSING MAXIMUM MORTGAGE LIMIT.

    Section 203(b)(2)(A) of the National Housing Act (12 U.S.C. 
1709(b)(2)(A)) is amended--
            (1) in clause (i)--
                    (A) by striking ``95 percent'' and inserting ``100 
                percent''; and
                    (B) by striking ``or'' at the end;
            (2) in clause (ii)--
                    (A) by striking ``87 percent of the dollar amount 
                limitation determined under section 305(a)(2) of the 
                Federal Home Loan Mortgage Corporation Act for a 
                residence of the applicable size;''; and
                    (B) by striking ``for Fiscal Year'' and inserting a 
                comma;
            (3) by transferring and inserting the text of clause (ii) 
        (as so amended) into clause (i) after the semicolon at the end;
            (4) by striking clause (ii);
            (5) by striking ``(i)'' and inserting ``(A) not to 
        exceed,'';
            (6) by striking ``(A) not to exceed the lesser of--''; and
            (7) by realigning subparagraph (A) (as so redesignated by 
        paragraph (5) of this subsection), so as to be indented 4 ems 
        from the left margin.
                                 <all>