RENTAL HOUSING PROGRAM.

SEC. 167. SECTION 236 RENTAL HOUSING PROGRAM. (a) State-Aided Projects.— (1) Section 236(f)(4) of the National Housing Act is amended by striking “90 per centum” and inserting “100 percent”. (2) Section 101(g) of the Housing and Urban Development Act of 1965 is amended by striking “90 per centum” and inserting “100 percent”. (b) Insuring Authority.— Section 236(n) of the National Housing Act is amended by adding at the end the following new sentence: “A mortgage may be insured under this section after the date in the preceding sentence in order to refinance a mortgage insured under this section or to finance pursuant to subsection (j)(3) the purchase, by a cooperative or nonprofit corporation or association, of a project assisted under this section.”.