[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2274 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 2274

 To amend the Housing Act of 1949 to reauthorize certain programs for 
                       rural housing assistance.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 25, 1997

Mr. Lazio of New York introduced the following bill; which was referred 
           to the Committee on Banking and Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Housing Act of 1949 to reauthorize certain programs for 
                       rural housing assistance.

    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 Housing Program 
Reauthorization Act of 1997''.

SEC. 2. HOUSING IN UNDERSERVED AREAS PROGRAM.

    The first sentence of section 509(f)(4)(A) of the Housing Act of 
1949 (42 U.S.C. 1479(f)(4)(A)) is amended by striking ``fiscal year 
1997'' and inserting ``fiscal year 1999''.

SEC. 3. HOUSING AND RELATED FACILITIES FOR ELDERLY PERSONS AND FAMILIES 
              AND OTHER LOW-INCOME PERSONS AND FAMILIES.

    (a) Authority To Make Loans.--Section 515(b)(4) of the Housing Act 
of 1949 (42 U.S.C. 1485(b)(4)) is amended by striking ``September 30, 
1997'' and inserting ``September 30, 1999''.
    (b) Set-Aside for Nonprofit Entities.--The first sentence of 
section 515(w)(1) of the Housing Act of 1949 (42 U.S.C. 1485(w)(1)) is 
amended by striking ``fiscal year 1997'' and inserting ``fiscal year 
1999''.

SEC. 4. LOAN GUARANTEES FOR MULTIFAMILY RENTAL HOUSING IN RURAL AREAS.

    Section 538 of the Housing Act of 1949 (42 U.S.C. 1490p-2) is 
amended--
            (1) in subsection (q), by striking paragraph (2) and 
        inserting the following:
            ``(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 of fiscal years 1998 and 1999 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 year.''; and
            (3) in subsection (u), by striking ``1996'' and inserting 
        ``1999''.
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