[108th Congress Public Law 393]
[From the U.S. Government Printing Office]


[DOCID: f:publ393.108]

[[Page 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):
---------------------------------------------------------------------------

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.

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