Page:United States Statutes at Large Volume 108 Part 3.djvu/702

 108 STAT. 2454 PUBLIC LAW 103-330—SEPT. 30, 1994 RURAL DEVELOPMENT ADMINISTRATION AND FARMERS HOME ADMINISTRATION RURAL HOUSING INSURANCE FUND PROGRAM ACCOUNT For gross obligations for the principal amount of direct and guaranteed loans as authorized by title V of the Housing Act of 1949, as amended, to be available from funds in the Rural Housing Insurance Fund, as follows: $2,200,000,000 for loans to section 502 borrowers, as determined by the Secretary, of which $1,000,000,000 shall be for unsubsidized guaranteed loans; $35,000,000 for section 504 housing repair loans; $15,915,000 for section 514 farm labor housing; $220,000,000 for section 515 rental housing; and $632,000 for site loans: Provided, That up to $48,650,000 of these funds shall be made avsiilable for section 502(g), Deferral Mortgage Demonstration. 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: low-income section 502 loans, $244,720,000 of which $17,200,000 shall be for unsubsidized guaranteed loans; section 504 housing repair loans, $11,690,000; section 514 farm labor housing, $7,911,000; and section 515 rental housing, $115,500,000. In addition, for the cost (as defined in section 502 of the Congressional Budget Act of 1974) of guaranteed loans under a demonstration program of loan guarantees for multifamily rental housing in rural areas, $1,000,000, to be derived from the amount made available under this heading for the cost of low-income section 502 loans and to become available for obligation only upon the enactment of authorizing legislation. In addition, for administrative expenses necessary to carry out the direct and guaranteed loan programs, $389,818,000. 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 forgiveness or payments for eligible households as authorized by section 502(c)(5)(D) of the Housing Act of 1949, as amended, $523,008,000; 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 $10,000 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 1995 shall be funded for a five-year period, although the life of any such agreement may be extended to fully utilize amounts obligated.

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