; (2) by striking paragraph (2); (3) by redesignating paragraph (3) as paragraph (2); and (4) in paragraph (2), as so redesignated, by striking section 224 and inserting section 223 . 203. Reform of homeownership resale restrictions Section 215 of the Cranston-Gonzalez National Affordable Housing Act ( 42 U.S.C. 12745 ), as amended by section 201, is amended— (1) in subsection (b)— (A) in paragraph (2), by redesignating subparagraphs (A), (B), and (C) as clauses (i), (ii), and (iii), respectively, and adjusting the margins accordingly; (B) by striking paragraph (3); (C) by redesignating paragraphs (1), (2), and (4) as subparagraphs (A), (B), and (D), respectively, and adjusting the margins accordingly; (D) by inserting after subparagraph (B), as so redesignated, the following: (C) is subject to restrictions that are established by the participating jurisdiction and determined by the Secretary to be appropriate, including with respect to the affordability period, to— (i) require that any subsequent purchase of the property be— (I) only by a person who meets the qualifications specified under subparagraph (B); and (II) at a price that is determined by a formula or method established by the participating jurisdiction that provides the owner with a reasonable return on investment, which may include a percentage of the cost of any improvements; or (ii) recapture the investment provided under this title in order to assist other persons in accordance with the requirements of this title, except where there are no net proceeds or where the net proceeds are insufficient to repay the full amount of the assistance; and ; (E) by striking Housing that is for homeownership and inserting the following: (1) Qualification Housing that is for homeownership