113 STAT. 1060 PUBLIC LAW 106-74—OCT. 20, 1999 RURAL HOUSING AND ECONOMIC DEVELOPMENT For the Office of Rural Housing and Economic Development in the Department of Housing and Urban Development, $25,000,000, to remain available until expended: Provided, That of the amount under this heading, up to $3,000,000 shall be used to develop capacity at the State and local level for developing rural housing and for rural economic development and for maintaining a clearinghouse of ideas for innovative strategies for rural housing and economic development and revitalization: Pro- Deadline, vided further. That of the amount under this heading, at least $22,000,000 shall be awarded by June 1, 2000 to Indian tribes, State housing finance agencies. State community and/or economic development agencies, local rural nonprofits and community development corporations to support innovative housing and economic development activities in rural areas: Provided further. That all grants shall be awarded on a competitive basis as specified in section 102 of the HUD Reform Act. AMERICA'S PRIVATE INVESTMENT COMPANIES PROGRAM ACCOUNT (INCLUDING TRANSFER OF FUNDS) For the cost of guaranteed loans under the America's Private Investment Companies Program, $20,000,000, to remain available until September 30, 2002: Provided, That such costs, including the cost of modifying loans, shall be as defined in section 502 of the Congressional Budget Act of 1974, as amended: Provided further, That these funds are available to subsidize total loan principal, any part of which is guaranteed, not to exceed $541,000,000: Provided further. That the funds appropriated under this heading shall not be available for obligation until the America's Private Investment Companies Program is authorized by subsequent legislation and the program is developed subject to notice and comment rulemaking: Provided further, That if the authorizing legislation Deadline. is not enacted by June 30, 2000, all funds under this heading shall be transferred to and merged with the appropriation for the "Community development financial institutions fund program account" to be available for use as grants and loans under that account. URBAN EMPOWERMENT ZONES For grants in connection with a second round of the empowerment zones program in urban areas, designated by the Secretary of Housing and Urban Development in fiscal year 1999 pursuant to the Taxpayer Rehef Act of 1997, $55,000,000 to the Secretary of Housing and Urban Development for "Urban Empowerment Zones", including $3,666,000 for each empowerment zone for use in conjunction with economic development activities consistent with the strategic plan of each empowerment zone, to remain available until expended. RURAL EMPOWERMENT ZONES For grants for the rural empowerment zone and enterprise communities programs, as designated by the Secretary of Agriculture, $15,000,000 to the Secretary of Agriculture for grants for designated empowerment zones in rural areas and for grants for
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