[United States Statutes at Large, Volume 118, 108th Congress, 2nd Session]
[From the U.S. Government Publishing Office, www.gpo.gov]

118 STAT. 2246

Public Law 108-393
108th Congress

An Act


 
To clarify the loan guarantee authority under title VI of the Native
American Housing Assistance and Self-Determination Act of
1996. NOTE: Oct. 30, 2004 -  [H.R. 4471]

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress
assembled, NOTE: Homeownership Opportunities for Native Americans
Act of 2004. 25 USC 4101 note.

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 new subsection:
``(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.''.

Approved October 30, 2004.

LEGISLATIVE HISTORY--H.R. 4471 (S. 2571):
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HOUSE REPORTS: No. 108-550 (Comm. on Financial Services).
CONGRESSIONAL RECORD, Vol. 150 (2004):
June 21, considered and passed House.
Oct. 11, considered and passed Senate.