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H.R. 2900 (ih) To provide for research to determine the extent to which the presence ...
H. R. 28
IN THE SENATE OF THE UNITED STATES
April 9, 1997
September 11, 1997
Read twice and referred to the Committee on Banking, Housing, and Urban
To amend the Housing Act of 1949 to extend the loan guarantee program
for multifamily rental housing in rural areas.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Rural Multifamily Rental Housing
Loan Guarantee Extension Act of 1997''.
SEC. 2. LOAN GUARANTEES FOR MULTIFAMILY RENTAL HOUSING IN RURAL AREAS.
Section 538 of the Housing Act of 1949 (42 U.S.C. 1490p-2) is
(1) in subsection (q), by striking paragraph (2) and
inserting the following new paragraph:
``(2) Annual limitation on amount of loan guarantee.--In
each fiscal year, the Secretary may enter into commitments to
guarantee loans under this section only to the extent that the
costs of the guarantees entered into in such fiscal year do not
exceed such amount as may be provided in appropriation Acts for
such fiscal year.'';
(2) by striking subsection (t) and inserting the following
``(t) Authorization of Appropriations.--There are authorized to be
appropriated for each fiscal year for costs (as such term is defined in
section 502 of the Congressional Budget Act of 1974) of loan guarantees
made under this section such sums as may be necessary for such fiscal
(3) by striking subsection (u).
Passed the House of Representatives April 8, 1997.
ROBIN H. CARLE,
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