118 STAT. 3321 PUBLIC LAW 108–447—DEC. 8, 2004 paragraph for an eligible asset. In determining the dis count, the Secretary may consider the condition of the asset property, the extent of resources available to the preferred purchaser, the comprehensive revitalization plan undertaken by such purchaser, the financial safety and soundness of the Mutual Mortgage Insurance Fund, and any other circumstances the Secretary considers appro priate’’; and (B) by striking subparagraph (D); (5) in paragraph (7)(A), by striking ‘‘eligible assets to be purchased and the interests sold’’ and inserting ‘‘category or categories of eligible assets to be purchased and, based on the purchaser’s capacity to manage and dispose of assets, the maximum number of assets owned by the Secretary at the time the sale agreement is executed that shall be sold to the purchaser’’; and (6) in paragraph (8)— (A) in subparagraph (F), by inserting after ‘‘State’’ the following: ‘‘, and any agency or instrumentality thereof that is established pursuant to legislation and designated by the chief executive officer to act on behalf of the jurisdic tion with regard to the provisions of this subsection’’; and (B) by adding the following new subparagraphs at the end: ‘‘(G) STATE.—The term ‘State’ means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, American Samoa, the Virgin Islands, the Northern Mariana Islands, or any agency or instrumen tality thereof that is established pursuant to legislation and designated by the chief executive officer to act on behalf of the State with regard to provisions of this subjec tion. ‘‘(H) INDIAN TRIBE.—The term ‘Indian tribe’ has the same meaning as in section 248(i)(I) of this Act.’’. SEC. 222. Section 203(c) of the National Housing Act (12 U.S.C. 1709(c)), as amended, is further amended in paragraph (1) by striking ‘‘subsections (n) and (k)’’ and inserting ‘‘subsection (n)’’ and striking ‘‘or (k)’’. SEC. 223. Section 203(c)(2)(A) of the National Housing Act (12 U.S.C. 1709(c)(2)(A)) is amended in the last sentence after ‘‘subparagraph’’ by inserting the following: ‘‘, provided that the mortgagor refinances the unpaid principal obligation under title II of this Act’’. This provision shall apply to loans that become insured on or after date of enactment of this Act. SEC. 224. The portion of any athletic scholarship assistance that is available for housing costs shall be considered adjusted income for purposes of section 3(b)(5) of the United States Housing Act of 1937. The Secretary of Housing and Urban Development shall by notice establish criteria under which persons who receive athletic scholarship assistance may be denied housing assistance under the United States Housing Act of 1937. SEC. 225. The funds made available for Native Alaskans under the heading ‘‘Native American Housing Block Grants’’ in title II of this Act shall be allocated to the same Native Alaskan housing block grant recipients that received funds in fiscal year 2004. Notice. Requirements. Applicability. 12 USC 1709 note.
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