Sec. 105. Modifications to increases in conforming loan limits
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Section 302(b)(2) of the Federal National Mortgage Association Charter Act ( 12 U.S.C. 1717(b)(2) ) is amended— in the 8th sentence— in inserting or subtracting from after adding to ; and by inserting or decrease, respectively before the first comma; by striking the 9th and 10th sentences; by striking the last sentence; by inserting
(A)after the paragraph designation; and by adding at the end the following new subparagraph: Subject to clause (ii), the limitations established pursuant to subparagraph
(A)shall also be increased, with respect to properties of a particular size located in any area for which 115 percent of the median house price for such size residence exceeds the limitation under subparagraph
(A)for such size residence, to the lesser of— for the first year beginning after the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, the difference between— 150 percent of the limitation under subparagraph
(A)for such size residence; and $20,000 in the case of a 1-family residence, $25,604 in the case of a 2-family residence, $30,950 in the case of a 3-family residence, and $38,463 in the case of a 4-family residence; for the second year beginning after the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, the difference between— 150 percent of the limitation under subparagraph
(A)for such size residence; and $40,000 in the case of a 1-family residence, $51,208 in the case of a 2-family residence, $61,900 in the case of a 3-family residence, and $76,926 in the case of a 4-family residence; for the third year beginning after the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, the difference between— 150 percent of the limitation under subparagraph
(A)for such size residence; and $60,000 in the case of a 1-family residence, $76,812 in the case of a 2-family residence, $92,850 in the case of a 3-family residence, and $103,389 in the case of a 4-family residence; for the fourth year beginning after the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, the difference between— 150 percent of the limitation under subparagraph
(A)for such size residence; and $80,000 in the case of a 1-family residence, $102,416 in the case of a 2-family residence, $123,800 in the case of a 3-family residence, and $153,852 in the case of a 4-family residence; and for the fifth year beginning after the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, the difference between— 150 percent of the limitation under subparagraph
(A)for such size residence; and $100,000 in the case of a 1-family residence, $128,020 in the case of a 2-family residence, $154,750 in the case of a 3-family residence, and $192,315 in the case of a 4-family residence; the amount that is equal to 115 percent of the median house price in such area for such size residence; or the limitation in effect for such size residence for such area, pursuant to the last sentence of this paragraph as in effect immediately before the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, as of the date of such enactment. The limitations established pursuant to subparagraph
(A)may not be increased, with respect to properties of any size located in a particular area unless, as of the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, such foregoing limitations in effect for such area for any size residence were determined under the authority provided in the last sentence of this paragraph, as in effect immediately before such enactment. . Section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act ( 12 U.S.C. 1454(a)(2) ) is amended— in the 7th sentence— in inserting or subtracting from after adding to ; and by inserting or decrease, respectively before the first comma; and by striking the 8th and 9th sentences; by striking the last sentence; by inserting
(A)after the paragraph designation; and by adding at the end the following new subparagraph: Subject to clause (ii), the limitations established pursuant to subparagraph
(A)shall also be increased, with respect to properties of a particular size located in any area for which 115 percent of the median house price for such size residence exceeds the limitation under subparagraph
(A)for such size residence, to the lesser of— for the first year beginning after the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, the difference between— 150 percent of the limitation under subparagraph
(A)for such size residence; and $20,000 in the case of a 1-family residence, $25,604 in the case of a 2-family residence, $30,950 in the case of a 3-family residence, and $38,463 in the case of a 4-family residence; for the second year beginning after the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, the difference between— 150 percent of the limitation under subparagraph
(A)for such size residence; and $40,000 in the case of a 1-family residence, $51,208 in the case of a 2-family residence, $61,900 in the case of a 3-family residence, and $76,926 in the case of a 4-family residence; for the third year beginning after the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, the difference between— 150 percent of the limitation under subparagraph
(A)for such size residence; and $60,000 in the case of a 1-family residence, $76,812 in the case of a 2-family residence, $92,850 in the case of a 3-family residence, and $103,389 in the case of a 4-family residence; for the fourth year beginning after the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, the difference between— 150 percent of the limitation under subparagraph
(A)for such size residence; and $80,000 in the case of a 1-family residence, $102,416 in the case of a 2-family residence, $123,800 in the case of a 3-family residence, and $153,852 in the case of a 4-family residence; and for the fifth year beginning after the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, the difference between— 150 percent of the limitation under subparagraph
(A)for such size residence; and $100,000 in the case of a 1-family residence, $128,020 in the case of a 2-family residence, $154,750 in the case of a 3-family residence, and $192,315 in the case of a 4-family residence; the amount that is equal to 115 percent of the median house price in such area for such size residence; or the limitation in effect for such size residence for such area, pursuant to the last sentence of this paragraph as in effect immediately before the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, as of the date of such enactment. The limitations established pursuant to subparagraph
(A)may not be increased, with respect to properties of any size located in a particular area unless, as of the date of the enactment of the Protecting American Taxpayers and Homeowners Act of 2013, such foregoing limitations in effect for such area for any size residence were determined under the authority provided in the last sentence of this paragraph, as in effect immediately before such enactment. .
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