
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document affected by Public Law 107-95 Section 5(d)(1)]
[CITE: 38USC3772]

 
                      TITLE 38--VETERANS' BENEFITS
 
               PART III--READJUSTMENT AND RELATED BENEFITS
 
              CHAPTER 37--HOUSING AND SMALL BUSINESS LOANS
 
 SUBCHAPTER VI--LOAN GUARANTEE FOR MULTIFAMILY TRANSITIONAL HOUSING FOR 
                            HOMELESS VETERANS
 
Sec. 3772. General authority

    (a) The Secretary may guarantee the full or partial repayment of a 
loan that meets the requirements of this subchapter.
    (b)(1) Not more than 15 loans may be guaranteed under subsection 
(a), of which not more than five such loans may be guaranteed during the 
3-year period beginning on the date of the enactment of this subchapter.
    (2) A guarantee of a loan under subsection (a) shall be in an amount 
that is not less than the amount necessary to sell the loan in a 
commercial market.
    (3) Not more than an aggregate amount of $100,000,000 in loans may 
be guaranteed under subsection (a).
    (c) A loan may not be guaranteed under this subchapter unless, 
before closing such loan, the Secretary has approved the loan.
    (d)(1) The Secretary shall enter into contracts with a qualified 
nonprofit organization, or other qualified organization, that has 
experience in underwriting transitional housing projects to obtain 
advice in carrying out this subchapter, including advice on the terms 
and conditions necessary for a loan that meets the requirements of 
section 3773 of this title.
    (2) For purposes of paragraph (1), a nonprofit organization is an 
organization that is described in paragraph (3) or (4) of subsection (c) 
of section 501 of the Internal Revenue Code of 1986 and is exempt from 
tax under subsection (a) of such section.
    (e) The Secretary may carry out this subchapter in advance of the 
issuance of regulations for such purpose.
    (f) The Secretary may guarantee loans under this subchapter 
notwithstanding any requirement for prior appropriations for such 
purpose under any provision of law.

(Added Pub. L. 105-368, title VI, Sec. 601(a), Nov. 11, 1998, 112 Stat. 
3342.)

                       References in Text

    The date of the enactment of this subchapter, referred to in subsec. 
(b)(1), is the date of enactment of Pub. L. 105-368, which was approved 
Nov. 11, 1998.
    Section 501 of the Internal Revenue Code of 1986, referred to in 
subsec. (d)(2), is classified to section 501 of Title 26, Internal 
Revenue Code.

                  Section Referred to in Other Sections

    This section is referred to in section 3773 of this title.
