Home > 105th Congressional Bills > H.R. 4110 (rfs) To provide a cost-of-living adjustment in rates of compensation paid to veterans with service-connected disabilities, to make various improvements in education, housing, and cemetery programs of the Department of Veterans Affairs, and for...

H.R. 4110 (rfs) To provide a cost-of-living adjustment in rates of compensation paid to veterans with service-connected disabilities, to make various improvements in education, housing, and cemetery programs of the Department of Veterans Affairs, and for...

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  2d Session
                                H. R. 4110

            To facilitate homeownership in high-cost areas.



                             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,


    This Act may be cited as the ``FHA Single Family Loan Limit 
Adjustment Act of 2004''.


    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 
            (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 
            (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.

Pages: 1

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