[Congressional Record Volume 150, Number 130 (Monday, October 11, 2004)]
[Senate]
[Page S11251]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




     HOME OWNERSHIP OPPORTUNITIES FOR NATIVE AMERICANS ACT OF 2004

  Mr. SESSIONS. Madam President, I ask unanimous consent that the 
Committee on Indian Affairs be discharged from further consideration of 
S. 2571, and that the Senate proceed to its immediate consideration.
  The PRESIDING OFFICER. The clerk will state the bill by title.
  The assistant legislative clerk read as follows:

       A bill (S. 2571) to clarify the loan guarantee authority 
     under title VI of the Native American Housing Assistance and 
     Self-Determination Act of 1996.

  There being no objection, the Senate proceeded to consider the bill.
  Mr. SESSIONS. Madam President, I ask unanimous consent that the bill 
be read the third time and passed, the motion to reconsider be laid 
upon the table, with no intervening action or debate, and that any 
statements relating to this measure be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The bill (S. 2571) was read the third time and passed, as follows:

                                S. 2571

       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 ``Homeownership Opportunities 
     for Native Americans Act of 2004''.

     SEC. 2. FEDERAL GUARANTEES FOR FINANCING FOR TRIBAL HOUSING 
                   ACTIVITIES.

       Section 601 of the Native American Housing Assistance and 
     Self-Determination Act of 1996 (25 U.S.C. 4191) is amended by 
     adding at the end the following:
       ``(d) Limitation on Percentage.--A guarantee made under 
     this title shall guarantee repayment of 95 percent of the 
     unpaid principal and interest due on the notes or other 
     obligations guaranteed.''.

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