HOMEOWNERS ASSISTANCE FOR CERTAIN INDIVIDUALS AFFECTED BY HURRICANE ANDREW.

SEC. 2856. HOMEOWNERS ASSISTANCE FOR CERTAIN INDIVIDUALS AFFECTED BY HURRICANE ANDREW. (a) In General.— Notwithstanding any other provision of law, the Secretary of Defense may reimburse the persons described in subsection (b) for losses of real property owned by such persons that result from damage caused by Hurricane Andrew. (b) Eligible Persons.— A person eligible for reimbursement under this section is any civilian employee of the Federal Government or member of the uniformed services who— (1) was assigned to, or employed at or in connection with, Homestead Air Force Base, Florida, on or before August 24, 1992; (2) incident to such assignment or employment, owned and occupied a one- or two-family dwelling, manufactured home, or condominium unit in the vicinity of Homestead Air Force Base; and (3) as a result of the effects of Hurricane Andrew, incurred damage to the dwelling, manufactured home, or condominium unit such that— (A) the dwelling, manufactured home, or condominium unit is unsalable (as determined by the Secretary); and (B) the proceeds, if any, of insurance for such damage are less than an amount equal to the greater of— (i) the fair market value of the dwelling, manufactured home, or condominium unit on August 23, 1992 (as determined by the Secretary); or (ii) the outstanding mortgage, if any, on the dwelling, manufactured home, or condominium unit on that date. (c) Reimbursement Amount.— The amount of the reimbursement which an eligible person may be paid for a loss of real property under this section shall be determined as follows: (1) In the case of an eligible owner of a dwelling or condominium unit, the amount shall be— (A) the amount equal to the greater of— (i) 85 percent of the fair market value of the dwelling or condominium unit on August 23, 1992 (as deter-mined by the Secretary), or (ii) the outstanding mortgage, if any, on the dwelling or condominium unit on that date; minus (B) the proceeds, if any, of insurance referred to in subsection (b)(3)(B). (2) In the case of an eligible owner of a manufactured home, the amount shall be— (A) if the owner also owns the real property underlying such home, the amount determined under paragraph (1); or (B) if the owner leases such underlying property— (i) the amount determined under paragraph (1); plus (ii) the amount of rent payable under the lease of such property for the period beginning on August 24, 1992, and ending on the date of the reimbursement under this section. (d) Transfer and Disposal of Property.— An owner receiving reimbursement under this section shall transfer to the Secretary all right, title, and interest of the owner in the real property 106 STAT. 2629for which the owner receives such reimbursement. The Secretary shall hold, manage, and dispose of such property in the same manner that the Secretary holds, manages, and disposes of real property under section 1013 of the Demonstration Cities and Metropolitan Development Act of 1966 (42 U.S.C. 3374). (e) Funding.— (1) Notwithstanding subsection (d) of the Demonstration Cities and Metropolitan Development Act of 1966 (42 U.S.C. 3374(d)), the Secretary shall make reimbursements under this section from the fund established by such subsection (d). (2) Notwithstanding subsection (i) of such Act, there is hereby authorized to be appropriated for the fund referred to in paragraph (1) such amounts as may be necessary to carry out the purposes of this section.