S.Amdt. 1787

1. 1

   Change 1: Replaces “$128,072,000” with “$118,072,000”

   ReplacesPage 85, line 15Printed page

   [struck: $128,072,000][inserted: $118,072,000]

   Original wording

   On page 85, line 15, strike “$128,072,000” and insert “$118,072,000”.

2. 2

   Change 2: Replaces “$90,000,000 for section 515 rental housing” with “$100,000,000 for section 515 rental housing, of which $30,000,000 shall be for new constr…”

   ReplacesPage 120, line 24Printed page

   In H.R. 2744 · Reported to Senate

   (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: $4,927,581,000 for loans to section 502 borrowers, as determined by the Secretary, of which $1,000,000,000 shall be for direct loans, and of which $3,681,033,000 shall be for unsubsidized guaranteed loans; $35,000,000 for section 504 housing repair loans; [struck: $90,000,000][inserted: $100,000,000] for section 515 rental housing[inserted: , of which $30,000,000 shall be for new construction of rural housing units]; $100,000,000 for section 538 guaranteed multi-family housing loans; $5,000,000 for section 524 site loans; $11,500,000 for credit sales of acquired property, of which up to $1,500,000 may be for multi-family credit sales; and $5,048,000 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, $154,800,000, of which $113,900,000 shall be for direct loans, and of which $40,900,000, to remain available until expended, shall be for unsubsidized guaranteed loans; section 504 housing repair loans, $10,238,000; repair, rehabilitation, and new construction of section 515 rental housing, $41,292,000; section 538 multi-family housing guaranteed loans, $5,420,000; multi-family credit sales of acquired property, $681,000; section 523 self-help housing and development loans, $52,000: Provided, That of the total amount appropriated in this paragraph, $2,500,000 shall be available through June 30, 2006, for authorized empowerment zones and enterprise communities and communities designated by the Secretary of Agriculture as Rural Economic Area Partnership Zones: Provided further, That any funds under this paragraph initially allocated by the Secretary for housing projects in the State of Alaska that are not obligated by September 30, 2006, shall be carried over until September 30, 2007, and made available for such housing projects only in the State of Alaska. For additional costs to conduct a demonstration program for the preservation and revitalization of the section 515 multi-family rental housing properties, $16,500,000, to remain available until expended: Provided, That funding made available under this heading shall be used to restructure existing section 515 loans, as the Secretary deems appropriate, expressly for the purposes of ensuring the project has sufficient resources to preserve the project for the purpose of providing safe and affordable housing for low-income residents including reducing or eliminating interest; deferring loan payments, subordinating, reducing or reamortizing loan debt; and other financial assistance including advances and incentives required by the Secretary. In addition, for administrative expenses necessary to carry out the direct and guaranteed loan programs, $465,886,000, which shall be transferred to and merged with the appropriation for "Rural Development, Salaries and Expenses".

   rental assistance program

   Original wording

   On page 120, line 24, strike “$90,000,000 for section 515 rental housing” and insert “$100,000,000 for section 515 rental housing, of which $30,000,000 shall be for new construction of rural housing units”.

3. 3

   Change 3: Inserts “Provided further, That of this amount, not less than $4,000,000 shall be available for ne…” after “Act:”

   InsertsPage 123, line 9Printed page

   …Act:[inserted: Provided further, That of this amount, not less than $4,000,000 shall be available for new construction of rural housing units under section 515:]…

   Original wording

   On page 123, line 9, insert after “Act:” the following: “Provided further, That of this amount, not less than $4,000,000 shall be available for new construction of rural housing units under section 515:”.

Read automatically from the Congressional Record. Check the original before relying on it.

As printed