PUBLIC LAW 101-625—NOV. 28, 1990 104 STAT. 4171 (B) financed by a loan or mortgage held by the Secretary or insured by the Secretary; (C) determined by the Secretary to have serious physical or financial problems under the terms of an insurance or loan program administered by the Secretary; or (D) owned or held by the Secretary of Agriculture, the Resolution Trust Corporation, or a State or local government. (4) The term "homeownership program" means a program for homeownership under this subtitle. (5) The term "Indian housing authority" has the meaning given such term in section 3(b)(ll) of the United States Housing Act of 1937. (6) The term "low-income family" has the meaning given such term in section 3(b)(2) of the United States Housing Act of 1937. (7) The term "public housing agency" has the meeining given such term in section 3(b)(6) of the United States Housing Act of 1937. (8) The term "recipient" means an applicant approved to receive a grant under this title or such other entity specified in the approved application that will assume the obligations of the recipient under this subtitle. (9) The term "resident council" means any incorporated nonprofit organization or association that— (A) is representative of the tenants of the housing; (B) adopts written procedures providing for the election of officers on a regular basis; and (C) has a democratically elected governing board, elected by the tenants of the housing. (10) The term "Secretary" means the Secretary of Housing and Urban Development. SEC. 427. EXEMPTION. Eligible property covered by a homeownership program approved under this subtitle shall not be subject to— (1) the Low-Income Housing Preservation and Resident Homeownership Act of 1990, or (2) the requirements of section 203 of the Housing and Community Development Amendments of 1978 applicable to the sale of projects either at foreclosure or after acquisition by the Secretary. SEC. 428. LIMITATION ON SELECTION CRITERIA. In establishing criteria for selecting applicants to receive assistance under this subtitle, the Secretary may not establish any selection criterion or criteria that grant or deny such assistance to an applicant (or have the effect of granting or denying assistance) based on the implementation, continuation, or discontinuation of any public policy, regulation, or law of any jurisdiction in which the applicant or project is located. SEC. 429. AMENDMENT TO NATIONAL HOUSING ACT. Section 203(b)(9) of the National Housing Act (12 U.S.C. 1709(b)(9)) is amended by inserting after "Housing Act of 1961," the following: "or with respect to a mortgage covering a housing unit in connection with a homeownership program under the Homeownership and Opportunity Through HOPE Act,". 42 USC 12877. 42 USC 12878.
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