EXTENSION OF CRIME INSURANCE PROGRAM.

SEC. 542. EXTENSION OF CRIME INSURANCE PROGRAM. (a) General Authority.— Section 1201(b)(1) of the National Housing Act is amended by striking “March 15, 1988” in the matter preceding subparagraph (A) and inserting “September 30, 1989”. (b) Continuation of Existing Contracts.— Section 1201(b)(1)(A) of the National Housing Act is amended by striking “September 30, 1986” and inserting “September 30, 1990”. (c) Limitation on Premiums.— The premium rates charged for crime insurance under any program established pursuant to part C of title XII of the National Housing Act may not be increased during the period beginning on the date of the enactment of this Act and ending on September 30, 1989, by more than a prorated annual rate of 5 percent.