Sec. 292. Repeal of certain FHA programs
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Effective upon the expiration of the 2-year period that begins upon the date of the enactment of this Act, the following sections are repealed: Section 255 of the National Housing Act (12 U.S.C. 1715z–20). Section 242 ( 12 U.S.C. 1715z–7 ). The penultimate sentence of section 212(a) ( 12 U.S.C. 1715c(a) ) is amended by inserting after section 242 each place such term appears the following: (as such section was in effect immediately before the effective date under section 292(a) of the .
FHA Reform and Modernization Act of 2013 ) Section 223 (12 U.S.C. 1715n) is amended— in subsection (a)(7), in the matter preceding subparagraph (A), by inserting before the first comma the following: but not including a mortgage insured under section 242 ; (as such section was in effect immediately before the effective date under section 292(a) of the FHA Reform and Modernization Act of 2013 ) in subsection (d)(2)(A)— in clause
(i)by striking and at the end; and by inserting before the semicolon at the end the following: and
(iii)shall not be insured under section 242 (as such section was in effect immediately before the effective date under section 292(a) of the ; and FHA Reform and Modernization Act of 2013 ) in subsection (f)— in paragraph (1)— by striking existing hospital (or ; and by striking thereof) and inserting thereof ; and in paragraph (4)— in the matter preceding subparagraph (A), by striking existing hospital (or ; in the matter preceding subparagraph (A), by striking thereof) and inserting thereof, ; in subparagraphs (A), (B), and (C)— by striking existing hospital (or each place such term appears; and by striking thereof) each place such term appears and inserting thereof ; and in subparagraph (D), by striking or of section 242 (for the existing hospital proposed to be refinanced) . Section 541(a) (12 U.S.C. 1735f–19(a)) is amended by inserting after section 242 of this Act the following: , as such section was in effect immediately before the effective date under section 292(a) of the . FHA Reform and Modernization Act of 2013 The repeals under subsection
(a)shall not affect any legally binding obligations entered before the effective date of such repeals. Notwithstanding the repeals under subsection (a), the Secretary (or the FHA, pursuant to subtitle D of this title) may insure any mortgage for which a commitment to insure under section 242 or 255 of the National Housing Act was made before the expiration of the period referred to in subsection (a). Any such mortgage insured under such section 242 or 255 shall be subject to the terms of such section as in effect immediately before the expiration of such period. Any funds or activities subject, before the effective date of the repeals under subsection
(a)of this section, to section 242 or 255 of the National Housing Act shall continue to be governed by such sections as in effect immediately before such effective date.
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- 12 USC 1715z–20
- 12 USC 1715z–7
- 12 USC 1735f–19(a)
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Sec. 292
Repeal of certain FHA programs
Cite12 USC 1715z–20
Cite12 USC 1715z–7
Cite12 USC 1735f–19(a)
Cites 5Cited by 0 across 0 sources