Page:United States Statutes at Large Volume 117.djvu/48

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PUBLIC LAW 107-000—MMMM. DD, 2003

PUBLIC LAW 108–7—FEB. 20, 2003

117 STAT. 29

RURAL HOUSING SERVICE RURAL HOUSING INSURANCE FUND PROGRAM ACCOUNT

(INCLUDING

TRANSFERS OF FUNDS)

For gross obligations for the principal amount of direct and guaranteed loans as authorized by title V of the Housing Act of 1949, to be available from funds in the rural housing insurance fund, as follows: $5,572,000,000 for loans to section 502 borrowers, as determined by the Secretary, of which $1,044,000,000 shall be for direct loans, and of which $4,528,000,000 shall be for unsubsidized guaranteed loans; $35,000,000 for section 504 housing repair loans; $115,805,000 for section 515 rental housing; $100,000,000 for section 538 guaranteed multi-family housing loans; $5,046,000 for section 524 site loans; $12,000,000 for credit sales of acquired property, of which up to $2,000,000 may be for multi-family credit sales; and $5,011,000 for section 523 self-help housing land development loans. For the cost of direct and guaranteed loans, including the cost of modifying loans, as defined in section 502 of the Congressional Budget Act of 1974, as follows: section 502 loans, $234,950,000, of which $202,350,000 shall be for direct loans, and of which $32,600,000, to remain available until expended, shall be for unsubsidized guaranteed loans; section 504 housing repair loans, $10,857,000; section 515 rental housing, $54,000,000; section 538 multi-family housing guaranteed loans, $4,500,000; section 524 site loans, $55,000; multi-family credit sales of acquired property, $934,000; and section 523 self-help housing land development loans, $221,000: Provided, That of the total amount appropriated in this paragraph, $11,656,000 shall be available through June 30, 2003, for authorized empowerment zones and enterprise communities and communities designated by the Secretary of Agriculture as Rural Economic Area Partnership Zones. In addition, for administrative expenses necessary to carry out the direct and guaranteed loan programs, $432,374,000, which shall be transferred to and merged with the appropriation for ‘‘Rural Development, Salaries and Expenses’’. RENTAL ASSISTANCE PROGRAM

For rental assistance agreements entered into or renewed pursuant to the authority under section 521(a)(2) or agreements entered into in lieu of debt forgiveness or payments for eligible households as authorized by section 502(c)(5)(D) of the Housing Act of 1949, $726,000,000; and, in addition, such sums as may be necessary, as authorized by section 521(c) of the Act, to liquidate debt incurred prior to fiscal year 1992 to carry out the rental assistance program under section 521(a)(2) of the Act: Provided, That of this amount, not more than $5,900,000 shall be available for debt forgiveness or payments for eligible households as authorized by section 502(c)(5)(D) of the Act, and not to exceed $20,000 per project for advances to nonprofit organizations or public agencies to cover direct costs (other than purchase price) incurred in purchasing projects pursuant to section 502(c)(5)(C) of the Act: Provided further, That agreements entered into or renewed during fiscal year 2003 shall be funded for a 5-year period, although the life

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