PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3963

(C) SHORTENED PERIOD.—The Secretary may shorten
the period under subparagraph (A) for good cause.

(D) FAILURE TO RESPOND.—The failure of an enterprise
to provide information during the 30-day period under this
paragraph (as extended or shortened) shall waive any right
of the enterprise to comment on the proposed determination
or action of the Secretary.

(3) CONSIDERATION OP INFORMATION AND DETERMINATION.—

(A) IN GENERAL.—After the expiration of the response
period under paragraph (2) or upon receipt of information
provided during such period by the enterprise, whichever
occurs earlier, the Secretary shall determine (i) whether
the enterprise has failed, or there is a substantial prob-
ability that the enterprise will fail, to meet the housing
goal, and (ii) whether (taking into consideration market
and economic conditions and the financial condition of the
enterprise) the achievement of the housing goal was or
is feasible.

(B) CONSIDERATIONS.—In making such determinations,
the Secretary shall take into consideration any relevant
information submitted by the enterprise during the
response period.

(C) NOTICE.—The Secretary shall provide written
notice to the enterprise, the Committee on Banking,
Finance and Urban Affairs of the House of Representatives,
and the Committee on Banking, Housing, and Urban
Affairs of the Senate, of—

(i) each determination that an enterprise has
failed, or that there is a substantial probability that
the enterprise will fail, to meet a housing goal;

(ii) each determination that the achievement of
a housing goal was or is feasible; and

(iii) the reasons for each such determination.
Such notice shall respond to any information submitted
during the response period.
(c) HOUSING PLANS.—

(1) REQUIREMENT.—If the Secretary finds pursuant to sub-
section (b), that an enterprise has failed, or that there is a
substantial probability that an enterprise will fail, to meet
any housing goal established under section 1332, 1333, or 1334,
and that the achievement of the housing goal was or is feasible,
the Secretary shall require the enterprise to submit a housing
plan under this subsection for approval by the Secretary.

(2) CONTENTS.—Each housing plan shall be a feasible plan
describing the specific actions the enterprise will take—

(A) to achieve the goal for the next calendar year;
or

(B) if the Secretary determines that there is a substan-
tial probability that the enterprise will fail to meet a goal
in the current year, to make such improvements as are
reasonable in the remainder of such year.

The plan shall be sufficiently specific to enable the Secretary
to monitor compliance periodically.

(3) DEADLINE FOR SUBMISSION.—The Secretary shall, by Regulations.
regulation, establish a deadline for an enterprise to submit

a housing plan to the Secretary, which may not be more than
45 days after the enterprise is provided notice under subsection