MORTGAGE LIMITS FOR MULTIFAMILY PROJECTS.

SEC. 426. MORTGAGE LIMITS FOR MULTIFAMILY PROJECTS. (a) Section 207 Limits.— Section 207(c)(3) of the National Housing Act is amended— (1) by striking out “$19,500”, “$21,600”, “$25,800”, “$31,800”, and “$36,000” and inserting in lieu thereof “$25,350”, “$28,080”, “$33,540”, “$41,340”, and “$46,800”, respectively; and (2) by striking out “$22,500”, “$25,200”, “$30,900”, “$38,700”, and “$43,758” and inserting in lieu thereof “$29,250”, “$32,760”, “$40,170”, “$50,310”, and “$56,885”, respectively. (b) Section 213 Limits.— Section 213(b)(2) of the National Housing Act is amended— (1) by striking out “$19,500”, “$21,600”, “$25,800”, “$31,800”, and “$36,000” and inserting in lieu thereof “$25,350”, “$28,080”, “$33,540”, “$41,340”, and “$46,800”, respectively; and 101 STAT. 1916 (2) by striking out “$22,500”, “$25,200”, “$30,900”, “$38,700”, and “$43,758” and inserting in lieu thereof “$29,250”, “$32,760”, “$40,170”, “$50,310”, and “$56,885”, respectively. (c) Section 220 Limits.— Section 220(d)(3)(B)(iii) of the National Housing Act is amended— (1) by striking out “$19,500”, “$21,600”, “$25,800”, “$31,800”, and “$36,000” and inserting in lieu thereof “$25,350”, “$28,080”, “$33,540”, “$41,340”, and “$46,800”, respectively; and (2) by striking out “$22,500”, “$25,200”, “$30,900”, “$38,700”, and “$43,758” and inserting in lieu thereof “$29,250”, “$32,760”, “$40,170”, “$50,310”, and “$56,885”, respectively. (d) Section 221(d)(3) Limits.— Section 221(d)(3)(ii) of the National Housing Act is amended by striking out “$21,563”; “$24,862”; “$29,984”; “$38,379”; “$42,756”; “$22,692”; “$26,012”; “$31,631”; “$40,919”; and “$44,917” and inserting in lieu thereof “$28,032”; “$32,321”; “$38,979”; “$49,893”; “$55,583”; “$29,500”; “$33,816”; “$41,120”; “$53,195”; and “$58,392”, respectively. (e) Section 221(d)(4) Limits.— Section 221(d)(4)(ii) of the National Housing Act of 1934 is amended by striking out “$19,406”; “$22,028”; “$26,625”; “$33,420”; “$37,870”; “$20,962”; “$24,030”; “$29,220”; “$37,800”; and “$41,494” and inserting in lieu thereof “$25,228”; “$28,636”; “$34,613”; “$43,446”; “$49,231”; “$27,251”; “$31,239”; “$37,986”; “$49,140”; and “$53,942”, respectively. (f) Section 231 Limits.— Section 231(c)(2) of the National Housing Act is amended— (1) by striking out “$18,450”, “$20,625”, “$24,630”, “$29,640”, and “$34,846” and inserting in lieu thereof “$23,985”, “$26,813”, “$32,019”, “$38,532”, and “$45,300”, respectively; and (2) by striking out “$20,962”, “$24,030”, “$29,220”, “$37,800”, and “$41,494” and inserting in lieu thereof “$27,251”, “$31,239”, “$37,986”, “$49,140”, and “$53,942”, respectively. (g) Section 234 Limits.— Section 234(e)(3) of the National Housing Act is amended— (1) by striking out “$19,500”, “$21,600”, “$25,800”, “$31,800”, and “$36,000” and inserting in lieu thereof “$25,350”, “$28,080”, “$33,540”, “$41,340”, and “$46,800”, respectively; and (2) by striking out “$22,500”, “$25,200”, “$30,900”, “$38,700”, and “$43,758” and inserting in lieu thereof “$29,250”, “$32,760”, “$40,170”, “$50,310”, and “$56,885”, respectively. (h) Limits for Multifamily Projects in High-Cost Areas.— Section 207(c)(3), the second proviso of section 213(b)(2), the first proviso of section 220(d)(3)(B)(iii), section 221(d)(3)(ii), section 221(d)(4)(ii), section 231(c)(2), and section 234(e)(3) of the National Housing Act are each amended by striking “not to exceed 75 per centum” and all that follows through “involved) in such an area” and inserting the following: “not to exceed 110 percent in any geographical area where the Secretary finds that cost levels so require and by not to exceed 140 percent where the Secretary determines it necessary on a project-by-project basis, but in no case may any such increase exceed 90 percent where the Secretary determines that a mortgage purchased or to be purchased by the Government National Mortgage Association in implementing its special assistance functions under section 305 of this Act (as such section existed immediately before November 30, 1983) is involved”.