REAUTHORIZATION OF OFFICE AND EXTENSION OF PROGRAM.

SEC. 621. REAUTHORIZATION OF OFFICE AND EXTENSION OF PROGRAM. Section 579 of the Multifamily Assisted Housing Reform and Affordability Act of 1997 (42 U.S.C. 1437f note) is amended— (1) by striking subsection (a) and inserting the following new subsection: “(a) Repeals.— “(1) Mark-to-market program.—Subtitle A (except for section 524) is repealed effective October 1, 2006. “(2) OMHAR.—Subtitle D (except for this section) is repealed effective October 1, 2004.”; (2) in subsection (b), by striking “October 1, 2001” and inserting “October 1, 2006”; (3) in subsection (c), by striking “upon September 30, 2001” and inserting “at the end of September 30, 2004”; and (4) by striking subsection (d) and inserting the following new subsection: “(d) Transfer of Authority.—Effective upon the repeal of subtitle D under subsection (a)(2) of this section, all authority and responsibilities to administer the program under subtitle A are transferred to the Secretary.”.