[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 2055 Introduced in Senate (IS)]

103d CONGRESS
  2d Session
                                S. 2055

 To amend the Guaranteed Rural Housing Loan Program provisions of the 
                          Housing Act of 1949.


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                   IN THE SENATE OF THE UNITED STATES

               April 26 (legislative day, April 11), 1994

  Mr. Wofford introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend the Guaranteed Rural Housing Loan Program provisions of the 
                          Housing Act of 1949.

    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 ``Guaranteed Rural Housing Fairness 
Act''.

SEC. 2. MODIFICATION OF POOLING REQUIREMENTS FOR GUARANTEED RURAL 
              HOUSING LOAN PROGRAM.

    Section 502(h)(11) of the Housing Act of 1949 (42 U.S.C. 
1472(h)(11)) is amended--
            (1) by striking ``(11) Allocation.--The Secretary'' and 
        inserting the following:
            ``(11) Allocation.--
                    ``(A) In general.--The Secretary''; and
            (2) by adding at the end the following new subparagraph:
                    ``(B) Pooling and reallocation.--The Secretary may 
                not pool or reallocate funds that were allocated for 
                use in any State under this subsection prior to the 
                expiration of the fiscal year next following the fiscal 
                year in which the funds were allocated.''.

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