URBAN PLANNING.

SEC. 524. URBAN PLANNING. Section 702 of the Housing Act of 1954 is amended— (1) by striking subsections (c) and (h); and (2) by striking subsection (g) and inserting the following: “(g) Effective upon the date of the enactment of the Housing and Community Development Act of 1987, and in accordance with such accounting and other procedures as the Secretary may prescribe, each advance made by the Secretary under this section that has any principal amount outstanding shall be forgiven. The terms and conditions of any contract, or any amendment to a contract, for such advance with respect to any promise to repay the advance shall be canceled.”.