; and (ii) enables low- and moderate-income persons to purchase the housing for homeownership; and (D) maintains preemptive purchase options to purchase the property so the housing remains affordable to low-and moderate-income persons. . (2) Elimination of existing definition of community land trust Section 233 of the Cranston-Gonzalez National Affordable Housing Act ( 42 U.S.C. 12773 ) is amended by striking subsection (f). (b) Set-Aside for community housing development organizations Section 231 of the Cranston-Gonzalez national Affordable Housing Act ( 42 U.S.C. 12771 ) is amended— (1) in subsection (a), by striking to be developed, sponsored, or owned by community housing development organizations and inserting when a community housing development organization materially participates in the ownership or development of such housing, as determined by the Secretary ; (2) by striking subsection (b) and inserting the following: (b) Recapture and reuse If any funds reserved under subsection (a) remain uninvested for a period of 24 months, then the Secretary shall make such funds available to the participating jurisdiction for any eligible activities under this title without regard to whether a community housing development organization materially participates in the use of the funds. ; and (3) by striking subsection (c). IV Technical corrections 401. Technical corrections The Cranston-Gonzalez National Affordable Housing Act ( 42 U.S.C. 12701 et seq. ) is amended— (1) in section 104 ( 42 U.S.C. 12704 )— (A) by redesignating paragraph (23) (relating to the definition of the term to demonstrate to the Secretary ) as paragraph (22); and (B) by redesignating paragraph (24) (relating to the definition of the term insular area , as added by section 2(2) of Public Law 102–230 ) as paragraph (23); (2) in section 105(b) ( 42 U.S.C. 12705(b) )— (A) in paragraph (7), by striking Stewart B. McKinney Homeless Assistance Act and inserting McKinney-Vento Homeless Assistance Act