COMMUNITY DEVELOPMENT BLOCK GRANT LOAN GUARANTEES.

SEC. 514. COMMUNITY DEVELOPMENT BLOCK GRANT LOAN GUARANTEES. (a) Limitation on Commitments.— The last sentence of section 108(a) of the Housing and Community Development Act of 1974 is amended— (1) by striking “during fiscal year 1984”; and (2) by striking “$225,000,000” and inserting “$150,000,000 during fiscal year 1988, and $153,000,000 during fiscal year 1989”. (b) Prohibition on Fees.— Section 108 of the Housing and Community Development Act of 1974 is amended by adding at the end the following new subsection: “(m) No fee or charge may be imposed by the Secretary or any other Federal agency on or with respect to a guarantee made by the Secretary under this section after the date of the enactment of the Housing and Community Development Act of 1987.”. (c) Eligible Uses of Loan Guarantees.— Section 108(a) of the Housing and Community Development Act of 1974 is amended in the first sentence— (1) by inserting “(1)” after “purposes of financing”; and (2) by inserting before the period at the end the following: “; (2) housing rehabilitation; or (3) economic development activities permitted under paragraphs (14), (15), and (17) of section 105(a)”.