SEC-421 -- PROGRAM AUTHORITY.


 (a) In General.-The Secretary is authorized to make-

 (1) planning grants to enable applicants to develop homeownership
programs; and

 (2) implementation grants to enable applicants to carry out
homeownership programs.

 (b) Authority To Reserve Housing Assistance.-In connection with a grant
under this subtitle, the Secretary may reserve authority to provide
assistance under section 8 of the United States Housing Act of 1937 to
the extent necessary to provide rental assistance for a nonpurchasing
tenant who resides in the project on the date the Secretary approves the
application for an implementation grant, for use by the tenant in
another project.

 (c) Authorization of Appropriations.-There is authorized to be
appropriated for grants under this subtitle $51,000,000 for fiscal year
1991 and $280,000,000 for fiscal year 1992. Any amounts appropriated
pursuant to this subsection shall remain available until expended.