IMPLEMENTATION OF GUARANTEED LOAN DEMONSTRATION.

SEC. 1041. IMPLEMENTATION OF GUARANTEED LOAN DEMONSTRATION. (a) In General.— Section 304(a) of the Housing and Community Development Act of 1987 (42 U.S.C. 1472 note) is amended by adding at the end the following: “To implement this section, the Secretary shall issue regulations that take effect not later than 120 days after the date of the enactment of the Stewart B. McKinney Homeless Assistance Amendments Act of 1988.”. (b) Clarification.— Section 304 of the Housing and Community Development Act of 1987 (42 U.S.C. 1472 note) is amended by adding at the end the following new subsection: “(f) Relation to Other Law.— Section 502(d), and the second sentence of section 517(e), of the Housing Act of 1949 shall not apply to this section.”. 102 STAT. 3273 (c) Applicability.— The amendments made by this section shall apply to fiscal year 1989 and each succeeding fiscal year.