Page:United States Statutes at Large Volume 94 Part 3.djvu/461

 PUBLIC LAW 96-528—DEC. 15, 1980

94 STAT. 3105

TITLE II—RURAL DEVELOPMENT PROGRAMS RURAL DEVELOPMENT ASSISTANCE FARMERS HOME ADMINISTRATION RURAL HOUSING INSURANCE FUND

For direct loans and related advances pursuant to section 517(m) of the Housing Act of 1949, as amended, $24,000,000 shall be available from funds in the rural housing insurance fund, and for insured loans as authorized by title V of the Housing Act of 1949, as amended, $4,075,600,000, of which not less than $3,195,600,000 shall be available for subsidized interest loans to low-income borrowers as determined by the Secretary; and not to exceed $5,000,000 for advances as authorized by section 501(e) of such Act and not to exceed $2,000,000 for compensation of construction defects as authorized by section 509(c) of such Act: Provided, That unsubsidized interest guaranteed loans of not to exceed $25,000,000 shall be in addition to these amounts. During fiscal year 1981, no more than 17,655 units may be assisted under rental assistance agreements entered into during the year pursuant to authority under section 521(a)(2) of the Housing Act of 1949, as amended, and the total obligation incurred over the life of these agreements shall not exceed $403,000,000 to be added to and merged with the authority provided for this purpose in prior fiscal years. For an additional amount to reimburse the rural housing insurance fund for interest subsidies and losses sustained in prior years, but not previously reimbursed, in carrying out the provisions of title V of the Housing Act of 1949, as amended (42 U.S.C. 1483, 1487e, and 1490a(c)), including $8,712,000, as authorized by section 521(c) of the Act, $504,318,000, and for an additional amount as authorized by section 521(c) of the Act as may be necessary to reimburse the fund to carry out a rental assistance program under section 521(a)(2) of the Housing Act of 1949, as amended.

42 USC 1487. 42 USC 1471.

42 USC I47i. 42 USC 1479.

42 USC I490a.

AGRICULTURAL CREDIT INSURANCE FUND

For an additional amount to reimburse the agricultural credit insurance fund for interest subsidies and losses sustained in prior years, but not previously reimbursed, in carrying out the provisions of the Consolidated Farm and Rural Development Act, as amended (7 U.S.C. 1988(a)), $297,032,000. Loans may be insured, or made to be sold and insured, under this Loans. fund in accordance with and subject to the provisions of 7 U.S.C. 1928-1929, or guaranteed, as follows: Real estate loans, $999,600,000, including not less than $920,000,000 for farm ownership loans of which $50,000,000 shall be guaranteed loans; and not less than $60,500,000 for water development, use, and conservation loans of which $6,000,000 shall be guaranteed loans; operating loans, $875,000,000 of which $25,000,000 shall be guaranteed loans; and emergency insured and guaranteed loans in amounts necessary to meet the needs resulting from natural disasters.

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