Page:United States Statutes at Large Volume 107 Part 3.djvu/457

This page needs to be proofread.


PUBLIC LAW 103-204—DEC. 17, 1993 107 STAT. 2395 poration. In each year, the Advisory Board shall conduct such meetings at various locations in different regions of the United States in which substfintial residential property assets of the Federal Deposit Insurance Corporation or the Resolution Trust Corporation are located. The first meeting of the Advisory Board shall take place not later than the expiration of the 90-day period beginning on the date of the enactment of this Act. (B) ADVICE.— The Advisory Board shall submit information and advice resulting from each meeting, in such form as the Board considers appropriate, to the 'mrift Depositor IVotection Oversight Board and the Board of Directors of the Federal Deposit Insurance Corporation. (7) ANNUAL REPORTS. — For each year, the Advisory Board shall submit a report containing its findings and recommendations to the Committee on Banking, Housing, and Urban affairs of the Senate and the Committee on Banking, Finance and Urban Affairs of the House of Representatives, the Federal Deposit Insurance Corporation, and the Resolution Trust Corporation. The first such report shall be made not later than the expiration of the 6-month period beginning on the date of the enactment of this Act. (8) DEFINITION. —For purposes of this subsection, the term "affordable housing programs" means the program under section 21A(c) of the Federal Home Loan Bank Act and the program under section 40 of the Federal Deposit Insurance Act. (9) SUNSET. —The Advisory Board established under this subsection shall terminate on September 30, 1998. (c) TERMINATION OF NATIONAL HOUSING ADVISORY BOARD. — (1) TERMINATION. —The National Housing Advisory Board 12 USC i44ia under section 21A(d)(2) of the Federal Home Loan Bank Act ^°^- shall terminate upon the expiration of the 90-day period beginning on the date of the enactment of this Act. (2) REPEAL. —Effective upon the expiration of the period referred to in paragraph (1), paragraph (2) of section 21A(d) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(d)(2)) is amended to read as follows: -(2) [Reservedf. (d) PROVISION OF INFORMATION REGARDING SELLER FINANCING TO MINORITY- AND WOMEN-OWNED BUSINESSES.— (1) RTC.— Section 21A(c)(6)(A)(ii) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(6)(A)(ii)) is amended by adding at the end the following new sentences: The Corporation shall periodically provide, to a wide range of minority- and womenowned businesses engaged in providing affordable housing and to nonprofit organizations, more than 50 percent of the control of which is held by 1 or more minority individuals, that are engaged in providing affordable housing, information that is sufficient to inform such businesses and organizations of the availability and terms of financing under this clause; such information may be provided directly, by notices published in periodicals and other publications that regularly provide information to such businesses or organizations, and through persons and organizations that regularly provide information or services to such businesses or organizations. For purposes of this clause, the terms Vomen-owned business' and 'minoritvowned business' have the meanings given such terms in sub-