[Appendix]
[Detailed Budget Estimates by Agency]
[Department of Housing and Urban Development]
[From the U.S. Government Printing Office, www.gpo.gov]


[[Page 529]]


               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

    This chapter presents the budget estimates and program 
justifications for the Department of Housing and Urban Development 
(HUD). HUD's core mission is to increase homeownership, support 
community development, and increase access to affordable housing free 
from discrimination. The 2007 Budget for HUD includes major reform 
proposals for the Federal Housing Administration (FHA), the Community 
Development Block Grant (CDBG) program, and housing vouchers. These 
reforms will enhance the effectiveness of HUD's programs.

    The Department continues to emphasize expanding homeownership 
opportunities for all. Toward that goal, as part of a broader reform of 
FHA, two new programs are being proposed for 2007.  First, FHA will 
introduce a 100 percent financing option for families who have good 
credit histories but lack the savings needed for the downpayment on a 
home. The second program will be directed toward families who have 
impaired credit histories and would normally be served only by the sub-
prime market. Also, the HOME Investment Partnerships Program is 
increased by $160 million. The funding includes $100 million for the 
American Dream Downpayment Initiative. The improved performance of FHA 
and other homeownership efforts will help meet the goal of adding 5.5 
million new minority homeowners by 2010.

    The 2005 appropriation completed the shift of the Housing Choice 
Voucher program to a budget-based as opposed to a unit-based program. 
This shift was initiated by Congress in 2004 and will help in 
controlling the program's upward spiral in costs. Legislation has been 
proposed to provide Public Housing Agencies with substantial new 
flexibility to manage the voucher program in a way that controls costs 
and increases benefits to the two million families currently receiving 
assistance.

    HUD continues to focus on combating homelessness and eliminating 
chronic homelessness with $1.54 billion for Homeless Assistance, 
including up to $200 million for a Samaritan initiative to provide 
supportive housing linked to services for chronically homeless persons. 
Homeless assistance includes $25 million for HUD's part in a three-
agency faith-based Prisoner Reentry initiative.

    Funding in the 2007 budget for the Fair Housing Assistance and Fair 
Housing Initiatives programs (FHAP and FHIP) will continue to strengthen 
the ability of public and private fair housing groups, and partnerships 
between them, to enforce the laws protecting all Americans against 
illegal housing discrimination. With the publication of the National 
Discrimination Study, HUD now has the information necessary to improve 
enforcement, reduce discrimination, and address accessibility issues.

    The Community Development Block Grant program, along with other 
federal programs for community and economic development, will be 
reformed in 2007 to increase the focus and effectiveness of federal 
efforts to provide adequate economic opportunity in low-income 
communities. HUD will propose legislation soon to revise the CDBG 
allocation formulas, to provide bonus funds tied to performance, and to 
make further reforms to increase CDBG's effectiveness. HUD will continue 
to provide funds for Indian Community Development and Native American 
Housing.

    HUD is one of five Departments that are leading the Federal 
Government in tapping the potential of faith-based and community 
organizations to improve housing and help develop communities.

    The 2007 budget includes $115 million in lead hazard reduction 
grants to continue the 10-year program to eradicate lead hazards in 
housing.

    To ensure the effective implementation of its programs, the 
Department's Office of Policy Development and Research (PD&R) will be 
provided with funds necessary to ensure timely provision of data, 
provide research and analysis of national housing and economic 
conditions, and evaluate the performance of programs, consistent with 
the Government Performance and Results Act of 1994.

    The Department will continue the management reform effort initiated 
in 2001 and undertake further efforts in 2006 and 2007 to refocus HUD on 
its core mission and key programs as part of a continuing series of 
planned reforms to improve program performance.

                                


 
                        PUBLIC AND INDIAN HOUSING

                              Federal Funds

General and special funds:

                   Prevention of Resident Displacement

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0311-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
09.00 Reimbursable program..............          10          69
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................          10          69
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........                      69
22.00 New budget authority (gross)......          79
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          79          69
23.95 Total new obligations.............         -10         -69
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          69
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

68.00   Spending authority from 
          offsetting collections 
          (gross): Offsetting 
          collections (cash)............          79
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..                      10
73.10 Total new obligations.............          10          69
73.20 Total outlays (gross).............                     -79
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          10
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.93 Outlays from discretionary 
        balances........................                      79
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

88.00   Offsetting collections (cash) 
          from: Federal sources.........         -79
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................         -79          79
---------------------------------------------------------------------------

    HUD received $79 million from FEMA in 2005 via a mission assignment 
to provide housing assistance to families that were affected by 
Hurricane Katrina. Eligible recipients included families that were 
previously assisted by HUD or those that were homeless prior to 
Hurricane Katrina. Similar activities will be continued under the $390 
million supplemental

[[Page 530]]

appropriation pursuant to P.L. 109-148, the Robert T. Stafford Disaster 
Relief and Emergency Act (42 U.S.C. 5121 et seq.) under the Tenant-Based 
Rental Assistance account.

                                

                     Tenant-Based Rental Assistance

                      (including transfer of funds)

    For activities and assistance for the provision of tenant-based 
rental assistance authorized under the United States Housing Act of 
1937, as amended (42 U.S.C. 1437 et seq.) (``the Act'' herein), not 
otherwise provided for, [$15,573,655,725] $15,920,000,000, to remain 
available until expended, of which [$11,373,656,000] $11,720,000,000 
shall be available on October 1, [2005] 2006, and $4,200,000,000 shall 
be available on October 1, [2006] 2007: Provided, That the amounts made 
available under this heading are provided as follows:
        (1) [$14,089,755,725] $14,436,200,000 for renewals of expiring 
    section 8 tenant-based annual contributions contracts (including 
    renewals of enhanced vouchers under any provision of law authorizing 
    such assistance under section 8(t) of the Act): Provided, That 
    notwithstanding any other provision of law, from amounts provided 
    under this paragraph, the Secretary for the calendar year [2006] 
    2007 funding cycle shall provide renewal funding for each public 
    housing agency based on [each public housing agency's 2005 annual 
    budget for renewal funding as calculated by HUD, prior to 
    prorations] the amount public housing agencies were eligible to 
    receive in calendar year 2006, and by applying the 2007 Annual 
    Adjustment Factor as established by the Secretary, and by making any 
    necessary adjustments for the costs associated with deposits to 
    Family Self-Sufficiency Program escrow accounts or the first-time 
    renewal of tenant protection or HOPE VI vouchers [or vouchers that 
    were not in use during the 12-month period in order to be available 
    to meet a commitment pursuant to section 8(o)(13) of the Act]: 
    Provided further, That the Secretary shall, to the extent necessary 
    to stay within the amount provided under this paragraph, pro rate 
    each public housing agency's allocation otherwise established 
    pursuant to this paragraph: [Provided further, That except as 
    provided in the following proviso, the entire amount provided under 
    this paragraph shall be obligated to the public housing agencies 
    based on the allocation and pro rata method described above:] 
    Provided further, That public housing agencies participating in the 
    Moving to Work demonstration shall be funded pursuant to their 
    Moving to Work agreements and shall be subject to the same pro rata 
    adjustments under the previous proviso: Provided further, That up to 
    [$45,000,000] $100,000,000 shall be available [only: (1) to adjust 
    the allocations for public housing agencies, after application for 
    an adjustment by a public housing agency and verification by HUD, 
    whose allocations under this heading for contract renewals for the 
    calendar year 2005 funding cycle were based on verified VMS leasing 
    and cost data averaged for the months of May, June, and July of 2004 
    and solely because of temporarily low leasing levels during such 3-
    month period did not accurately reflect leasing levels and costs for 
    the 2004 fiscal year of the agencies; and (2) for adjustments for 
    public housing agencies that experienced a significant increase, as 
    determined by the Secretary, in renewal costs resulting from 
    unforeseen circumstances or from the portability under section 8(r) 
    of the United States Housing Act of 1937 of tenant-based rental 
    assistance: Provided further, That none of the funds provided in 
    this paragraph may be used to support a total number of unit months 
    under lease which exceeds a public housing agency's authorized level 
    of units under contract] for additional rental subsidy due to 
    unforeseen exigencies as determined by the Secretary and for the 
    one-time funding of housing assistance payments resulting from the 
    portability provisions of the housing choice voucher program;
        (2) [$180,000,000] $149,300,000 for section 8 rental assistance 
    for relocation and replacement of housing units under lease that are 
    demolished or disposed of pursuant to the Omnibus Consolidated 
    Rescissions and Appropriations Act of 1996 (Public Law 104-134), 
    conversion of section 23 projects to assistance under section 8, the 
    family unification program under section 8(x) of the Act, relocation 
    of witnesses in connection with efforts to combat crime in public 
    and assisted housing pursuant to a request from a law enforcement or 
    prosecution agency, enhanced vouchers under any provision of law 
    authorizing such assistance under section 8(t) of the Act, HOPE VI 
    vouchers, mandatory and voluntary conversions, and tenant protection 
    assistance including replacement and relocation assistance: 
    Provided, That [no more than $12,000,000 can be used for section 8 
    assistance to cover the cost of judgments and settlement agreements] 
    additional section 8 tenant protection rental assistance costs may 
    be funded in 2007 by utilizing unobligated balances, including 
    recaptures and carryover, remaining from funds appropriated to the 
    Department of Housing and Urban Development under this heading, the 
    heading ``Annual Contributions for Assisted Housing'', the heading 
    ``Housing Certificate Fund'', and the heading ``Project-based rental 
    assistance'', for fiscal year 2006 and prior years;
        (3) [$48,000,000] $47,500,000 for family self-sufficiency 
    coordinators under section 23 of the Act;
        (4) [$5,900,000] $5,900,000 shall be transferred to the Working 
    Capital Fund; and
        (5) [$1,250,000,000] $1,281,100,000 for administrative and other 
    expenses of public housing agencies in administering the section 8 
    tenant-based rental assistance program, of which up to [$10,000,000] 
    $30,000,000 shall be available to the Secretary to allocate to 
    public housing agencies that need additional funds to administer 
    their section 8 programs, with up to $20,000,000 to be for fees 
    associated with section 8 tenant protection rental assistance: 
    Provided, That [$1,240,000,000] $1,251,200,000 of the amount 
    provided in this paragraph shall be allocated for the calendar year 
    [2006] 2007 funding cycle on a pro rata basis to public housing 
    agencies based on the amount public housing agencies were eligible 
    to receive in calendar year [2005] 2006: Provided further, That all 
    amounts provided under this paragraph shall be only for activities 
    related to the provision of tenant-based rental assistance 
    authorized under section 8, including related development 
    activities. (Department of Housing and Urban Development 
    Appropriations Act, 2006.)
    [For an additional amount for housing vouchers for households within 
the area declared a major disaster under the Robert T. Stafford Disaster 
Relief and Emergency Act (42 U.S.C. 5121 et seq.) resulting from 
hurricanes in the Gulf of Mexico during calendar year 2005, 
$390,299,500, to remain available until September 30, 2007: Provided, 
That such households shall be limited to those which, prior to 
Hurricanes Katrina or Rita, received assistance under section 8 or 9 of 
the United States Housing Act of 1937 (Public Law 93-383), section 801 
or 811 of the Cranston-Gonzalez National Affordable Housing Act (Public 
Law 101-625), the AIDS Housing Opportunity Act (Public Law 101-625), or 
the Stewart B. McKinney Homeless Assistance Act (Public Law 100-77); or 
those which were homeless or in emergency shelters in the declared 
disaster area prior to Hurricanes Katrina or Rita: Provided further, 
That these funds are available for assistance, under section 8(o) of the 
United States Housing Act of 1937: Provided further, That in 
administering assistance under this heading the Secretary of Housing and 
Urban Development may waive requirements for income eligibility and 
tenant contribution under section 8 of such Act for up to 18 months: 
Provided further, That all households receiving housing vouchers under 
this heading shall be eligible to reoccupy their previous assisted 
housing, if and when it becomes available: Provided further, That the 
amount provided under this heading is designated as an emergency 
requirement pursuant to section 402 of H. Con. Res. 95 (109th Congress), 
the concurrent resolution on the budget for fiscal year 2006.] 
(Emergency Supplemental Appropriations Act to Address Hurricanes in the 
Gulf of Mexico and Pandemic Influenza, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0302-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Tenant Protection.................         125         215         149
00.02 Administrative Fees...............       1,197       1,241       1,281
00.03 Family Self Sufficiency 
        Coordinators....................                      93          48
00.05 Working Capital Fund..............           3           6           6
00.06 Contract Renewals.................       9,188      13,950      14,436
00.07 Disaster Assistance...............                     390
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................      10,513      15,895      15,920
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........                      87
22.00 New budget authority (gross)......      10,600      15,808      15,920
                                           ---------   ---------  ----------

[[Page 531]]


23.90   Total budgetary resources 
          available for obligation......      10,600      15,895      15,920
23.95 Total new obligations.............     -10,513     -15,895     -15,920
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          87
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................      10,685      11,764      11,720
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                    -114
40.35   Appropriation permanently 
          reduced.......................         -85
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............      10,600      11,650      11,720
55.00   Advance appropriation...........                   4,200       4,200
55.33   Appropriation permanently 
          reduced (P.L. 109-148)........                     -42
                                           ---------   ---------  ----------
55.90     Advance appropriation (total 
            discretionary)..............                   4,158       4,200
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................      10,600      15,808      15,920
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..                     482         943
73.10 Total new obligations.............      10,513      15,895      15,920
73.20 Total outlays (gross).............     -10,031     -15,434     -16,024
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         482         943         839
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................      10,031      14,904      15,124
86.93 Outlays from discretionary 
        balances........................                     530         900
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........      10,031      15,434      16,024
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................      10,600      15,808      15,920
90.00 Outlays...........................      10,031      15,434      16,024
---------------------------------------------------------------------------

    Tenant Based Rental Assistance. The 2005 Appropriations enacted 
several reforms to the funding structure of the Tenant-based Rental 
Assistance program (also known as the Housing Choice Voucher Program) 
but allows limited flexibility on the part of Public Housing Agencies 
(PHAs) to adjust to these changes. The Administration will continue to 
promote the State and Local Housing Flexibility Act of 2005 that will 
expand the dollar-based approach adopted by Congress and include the 
necessary flexibility to run effective and efficient programs. These 
reforms will improve the delivery of rental and homeownership subsidies 
for low-income families in a fiscally responsible manner, thereby 
ensuring the long-term sustainability of the tenant-based voucher 
program. The proposal includes greater PHA discretion in meeting local 
housing objectives and provides for steady and predictable funding 
levels adjusted annually for inflation.

    In 2006 the Department of Housing the Urban Development received 
$390 million for housing vouchers and administrative fees to supplement 
Tenant-Based Rental Assistance pursuant to P.L. 109-148 to assist 
households within the area declared a major disaster under the Robert T. 
Stafford Disaster Relief and Emergency Act (42 U.S.C. 5121 et seq.) 
resulting from Hurricanes Katrina and Rita that were assisted by HUD, 
homeless--on the street or in emergency shelters--prior to Hurricanes 
Katrina and Rita. The Department will assist these families for a period 
of 18 months.

                                

                        Housing Certificate Fund

                              (rescission)

    Of the unobligated balances, including recaptures and carryover, 
remaining from funds appropriated to the Department of Housing and Urban 
Development under this heading, the heading ``Annual contributions for 
assisted housing'', the heading ``Tenant-based rental assistance'', and 
the heading ``Project-based rental assistance'', for fiscal year [2005] 
2006 and prior years, [$2,050,000,000] $2,000,000,000 is rescinded, to 
be effected by the Secretary no later than September 30, [2006] 2007: 
Provided, That, if insufficient funds exist under these headings, the 
remaining balance may be derived from any other heading under this 
title: [Provided further, That the Secretary shall notify the Committees 
on Appropriations 30 days in advance of the rescission of any funds 
derived from the headings specified above:] Provided further, That any 
such balances governed by reallocation provisions under the statute 
authorizing the program for which the funds were originally appropriated 
shall be available for the rescission: Provided further, That any 
obligated balances of contract authority from fiscal year 1974 and prior 
that have been terminated shall be cancelled[: Provided further, That no 
amounts recaptured from amounts appropriated in prior years under this 
heading or the heading ``Annual contributions for assisted housing'' and 
no carryover of such appropriated amounts for project-based assistance 
shall be available for the calendar year 2006 funding cycle for 
activities provided for under the heading ``Tenant-based rental 
assistance'']. (Department of Housing and Urban Development 
Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0319-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Contract renewals.................       4,351       1,177
00.02 Contract Administrator............          51          94
00.03 Rental Assistance.................         102          28
00.05 Section 8 Amendments..............         299         108
00.11 Administrative Fees...............          79           3
00.12 Central Reserve...................          44           4
00.16 Family Self Sufficiency 
        Coordinators....................          48
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................       4,974       1,414
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........       2,255       1,414
22.00 New budget authority (gross)......       2,710      -2,050      -2,000
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................       1,454       2,050       2,000
22.75 Balance of contract authority 
        withdrawn.......................         -31
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       6,388       1,414
23.95 Total new obligations.............      -4,974      -1,414
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........       1,414
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.36   Unobligated balance permanently 
          reduced.......................      -1,456      -2,050      -2,000
55.00   Advance appropriation...........       4,200
55.35   Advance appropriation 
          permanently reduced...........         -34
                                           ---------   ---------  ----------
55.90     Advance appropriation (total 
            discretionary)..............       4,166
      Mandatory:

60.00   Appropriation...................       2,500       5,000       5,000
60.49   Portion applied to liquidate 
          contract authority............      -2,500      -5,000      -5,000
                                           ---------   ---------  ----------
62.50     Appropriation (total 
            mandatory)..................
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................       2,710      -2,050      -2,000
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..      26,383      18,807      14,454
73.10 Total new obligations.............       4,974       1,414
73.20 Total outlays (gross).............     -11,096      -3,717      -3,278
73.45 Recoveries of prior year 
        obligations.....................      -1,454      -2,050      -2,000
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..      18,807      14,454       9,176
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................       1,227
86.93 Outlays from discretionary 
        balances........................       9,869       3,717       3,278
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........      11,096       3,717       3,278
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................       2,710      -2,050      -2,000
90.00 Outlays...........................      11,096       3,717       3,278
----------------------------------------------------------------------------

    Memorandum (non-add) entries:
93.03 Obligated balance, start of year: 
        Contract authority..............                  15,741      10,741
93.04 Obligated balance, end of year: 
        Contract authority..............      15,741      10,741       5,741
---------------------------------------------------------------------------

    The Housing Certificate Fund, until 2005, provided funding to both 
project-based and tenant-based components of the Section 8 program. 
Project-based Rental Assistance and Tenant-based Rental Assistance are 
now separately funded accounts,

[[Page 532]]

and the Housing Certificate Fund retains balances from previous years' 
appropriations and in 2007 includes a rescission of $2 billion of those 
balances.

                                

                     Project-Based Rental Assistance

                      (including transfer of funds)

    For activities and assistance for the provision of project-based 
subsidy contracts under the United States Housing Act of 1937, as 
amended (42 U.S.C. 1437 et seq.) (``the Act'' herein), not otherwise 
provided for, [$5,088,300,000] $5,675,700,000, to remain available until 
expended: Provided, That the amounts made available under this heading 
are provided as follows:
        (1) [$4,939,700,000] $5,526,240,000 for expiring or terminating 
    section 8 project-based subsidy contracts (including section 8 
    moderate rehabilitation contracts), for amendments to section 8 
    project-based subsidy contracts (including section 8 moderate 
    rehabilitation contracts), for contracts entered into pursuant to 
    section 441 of the McKinney-Vento Homeless Assistance Act, for 
    renewal of section 8 contracts for units in projects that are 
    subject to approved plans of action under the Emergency Low Income 
    Housing Preservation Act of 1987 or the Low-Income Housing 
    Preservation and Resident Homeownership Act of 1990, and for 
    administrative and other expenses associated with project-based 
    activities and assistance funded under this paragraph.
        (2) [$147,200,000] $145,500,000 for performance-based contract 
    administrators for section 8 project-based assistance: Provided, 
    That the Secretary may also use such amounts for performance-based 
    contract administrators for: interest reduction payments pursuant to 
    section 236(a) of the National Housing Act (12 U.S.C. 1715z-1(a)); 
    rent supplement payments pursuant to section 101 of the Housing and 
    Urban Development Act of 1965 (12 U.S.C. 1701s); section 236(f)(2) 
    rental assistance payments (12 U.S.C. 1715z-1(f)(2)); project rental 
    assistance contracts for the elderly under section 202(c)(2) of the 
    Housing Act of 1959, as amended (12 U.S.C. 1701q, 1701q-1); project 
    rental assistance contracts for supportive housing for persons with 
    disabilities under section 811(d)(2) of the Cranston-Gonzalez 
    National Affordable Housing Act; project assistance contracts 
    pursuant to section 202(h) of the Housing Act of 1959 (Public Law 
    86-372; 73 Stat. 667); and loans under section 202 of the Housing 
    Act of 1959 (Public Law 86-372; 73 Stat. 667).
        (3) [$1,400,000] $3,960,000 shall be transferred to the Working 
    Capital Fund[: Provided further, That amounts recaptured under this 
    heading, the heading ``Annual Contributions for Assisted Housing'', 
    or the heading ``Housing Certificate Fund'', for project-based 
    section 8 activities may be used for renewals of or amendments to 
    section 8 project-based subsidy contracts or for performance-based 
    contract administrators, notwithstanding the purposes for which such 
    amounts were appropriated].
        (4) amounts recaptured under this heading, the heading ``Annual 
    Contributions for Assisted Housing'', or the heading ``Housing 
    Certificate Fund'' may be used for renewals of or amendments to 
    section 8 project-based contracts or for performance-based contract 
    administrators, notwithstanding the purposes for which such amounts 
    were appropriated. (Department of Housing and Urban Development 
    Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0303-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Contract Renewals.................       4,611       5,475       5,526
00.02 Contract Administrators...........          75         171         146
00.03 Working Capital Fund..............           2           1           4
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................       4,688       5,647       5,676
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........                     610
22.00 New budget authority (gross)......       5,298       5,037       5,676
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       5,298       5,647       5,676
23.95 Total new obligations.............      -4,688      -5,647      -5,676
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........         610
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................       5,341       5,088       5,676
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                     -51
40.35   Appropriation permanently 
          reduced.......................         -43
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............       5,298       5,037       5,676
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..                   2,530       3,291
73.10 Total new obligations.............       4,688       5,647       5,676
73.20 Total outlays (gross).............      -2,158      -4,886      -5,324
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..       2,530       3,291       3,643
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................       2,158       2,267       2,554
86.93 Outlays from discretionary 
        balances........................                   2,619       2,770
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........       2,158       4,886       5,324
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................       5,298       5,037       5,676
90.00 Outlays...........................       2,158       4,886       5,324
---------------------------------------------------------------------------

    Project-based Rental Assistance. HUD subsidizes rents for 
approximately 1.3 million families in over 19,000 projects under the 
Section 8 project-based rent subsidy program. Unlike the tenant-based 
Section 8 program, subsidies in the project-based program are tied 
directly to the project. Tenants pay up to 30 percent of income toward 
the rent with HUD subsidizing the remainder. Rents are adjusted 
periodically subject to HUD guidelines and approval. The Section 8 
project-based program provides essential assistance to maintain the 
stock of affordable housing for low-and moderate-income families and 
individuals, many of whom are elderly or disabled. Program activity 
includes the following:

    Contract Renewals. Original Section 8 assistance contracts were 
entered into between HUD and project owners for periods of up to 40 
years. As contract terms expire they are renewed on an annual funding 
cycle and additional renewal budget authority is required to maintain 
the housing stock.

    Section 8 Amendments. A funding amendment to a Section 8 contract is 
required to maintain the project until its contract expiration date when 
actual costs incurred exceed the amount of budget authority originally 
set-aside for the project. These additional costs are proposed to be 
entirely funded in 2007 by utilizing excess balances remaining on 
expired Section 8 contracts that utilized less than anticipated 
resources in completing the contract. No new BA is requested in 2007 for 
Section 8 Amendment activity.

    Contract Administrators. HUD utilizes Performance Based Contract 
Administrators (PBCAs) to administer and monitor the project-based 
portfolio. There are presently 55 PHAs under contract to manage 
approximately 13,633 contracts with 892,000 units. An additional 3,700 
contracts with 275,000 units are anticipated to be added to the PBCA 
inventory in 2007. Further, language is included under the Project 
Rental Assistance heading for PBCA administration of non-Section 8 
contracts. These include Rent Supplement and Rental Assistance Program 
(RAP) contracts, Project Rental Assistance Contracts (PRAC) and Project 
Assistance Contracts (PAC), and Section 236 contracts. Funding for 2007 
is proposed to be derived by $145.5 million of new budget authority.

    Project-based Tenant Protection. Voucher assistance is provided to 
tenants who face dislocation as a result of actions taken by project 
owners or by HUD that are beyond their control. This occurs as a result 
of owners opting out of the program or being terminated by HUD. HUD's 
property disposition activities and prepayment activity under the 
Preservation program may also lead to Project-Based Tenant Protec

[[Page 533]]

tion requirements. These project-based requirements, which are met 
through voucher assistance, are funded under the Tenant-Based heading.

    Working Capital Fund Transfer. A total of $4.0 million is requested 
in 2007 to fund development of and modifications to technology systems 
that service or are related to the programs or activities under this 
heading.

                                

                             Moving to Work

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0331-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..           1
73.40 Adjustments in expired accounts 
        (net)...........................          -1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................
---------------------------------------------------------------------------

    The Moving to Work demonstration provides unprecedented autonomy and 
flexibility to a select group of high-performing public housing 
authorities (PHAs) in order to assess the potential impacts of Federal 
deregulation on resident households, housing developments, and local 
housing programs. Through waivers of requirements of the 1937 Housing 
Act, as amended, and related Federal regulations, participating PHAs can 
combine Federal funding allocated for public housing operating subsidy, 
capital subsidy, and Section 8 vouchers into a flexible housing 
assistance fund. PHAs may provide incentives to families that work, are 
seeking work, or are preparing for work, PHAs are also allowed to change 
administrative procedures and management policies so they can reallocate 
resources to better address local housing needs and priorities. No 
additional funding is being requested for this demonstration. The State 
and Local Housing Flexibility Act of 2005 proposes to expand Moving to 
Work as a reward for well-performing and well-managed PHAs.

                                

                       Public Housing Capital Fund

                     (including transfers of funds)

    For the Public Housing Capital Fund Program to carry out capital and 
management activities for public housing agencies, as authorized under 
section 9 of the United States Housing Act of 1937, as amended (42 
U.S.C. 1437g) (the ``Act'') [$2,463,600,000] $2,178,000,000, to remain 
available until September 30, [2009] 2010: Provided, That 
notwithstanding any other provision of law or regulation, during fiscal 
year [2006] 2007, the Secretary may not delegate to any Department 
official other than the Deputy Secretary and the Assistant Secretary for 
Public and Indian Housing any authority under paragraph (2) of section 
9(j) regarding the extension of the time periods under such section: 
Provided further, That for purposes of such section 9(j), the term 
``obligate'' means, with respect to amounts, that the amounts are 
subject to a binding agreement that will result in outlays, immediately 
or in the future: Provided further, That of the total amount provided 
under this heading, up to [$11,000,000] $10,890,000 shall be for 
carrying out activities under section 9(h) of such Act: Provided 
further, That [$11,000,000] up to $14,850,000 shall be transferred to 
the Working Capital Fund: Provided further, That no funds may be used 
under this heading for the purposes specified in section 9(k) of the 
United States Housing Act of 1937, as amended: Provided further, That of 
the total amount provided under this heading, up to [$17,000,000] 
$19,800,000 shall be available for the Secretary of Housing and Urban 
Development to make grants, notwithstanding section 305 of this Act, to 
public housing agencies for emergency capital needs resulting from 
unforeseen or unpreventable emergencies and natural disasters occurring 
in fiscal year 2005, 2006, and 2007: Provided further, That of the total 
amount provided under this heading, [$38,000,000] $23,760,000 shall be 
for supportive services, service coordinators and congregate services as 
authorized by section 34 of the Act and the Native American Housing 
Assistance and Self-Determination Act of 1996: Provided further, That of 
the total amount provided under this heading up to [$8,820,000] 
$7,920,000 is to support the costs of administrative and judicial 
receiverships: [Provided further, That of the total amount provided 
under this heading, $7,500,000 shall be for Neighborhood Networks grants 
for activities authorized in section 9(d)(1)(E) of the United States 
Housing Act of 1937, as amended: Provided further, That notwithstanding 
any other provision of law, amounts made available in the previous 
proviso shall be awarded to public housing agencies on a competitive 
basis: Provided further, That notwithstanding section 9(d)(1)(E) of the 
United States Housing Act of 1937, any Neighborhood Networks computer 
center established with funding made available under this heading in 
this or any other Act, shall be available for use by residents of public 
housing and residents of other housing assisted with funding made 
available under this title in this Act or any other Act] Provided 
further, That of the total amount provided under this heading up to 
$15,345,000 shall be to support the ongoing Public Housing Financial and 
Physical Assessment activities of the Real Estate Assessment Center 
(REAC). (Department of Housing and Urban Development Appropriations Act, 
2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0304-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Capital Grants....................       2,431       2,346       2,085
00.02 Emergency/Disaster................          40          17          20
00.03 Technical Assistance..............          42          11          11
00.04 Working Capital Fund..............          10          11          15
00.06 Resident Opportunities and 
        Supportive Services.............          27          38          24
00.10 Neighborhood Networks.............           5           7
00.11 Adminstrative Receivership........                       9           8
00.12 Financial and Physical Assessment 
        Support.........................                                  15
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................       2,555       2,439       2,178
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........         287         322         322
22.00 New budget authority (gross)......       2,579       2,439       2,178
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................          21
22.75 Balance of contract authority 
        withdrawn.......................          -8
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       2,879       2,761       2,500
23.95 Total new obligations.............      -2,555      -2,439      -2,178
23.98 Unobligated balance expiring or 
        withdrawn.......................          -2
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........         322         322         322
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................       2,600       2,464       2,178
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                     -25
40.35   Appropriation permanently 
          reduced.......................         -21
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............       2,579       2,439       2,178
      Mandatory:

60.00   Appropriation...................         600         500         500
60.49   Portion applied to liquidate 
          contract authority............        -600        -500        -500
                                           ---------   ---------  ----------
62.50     Appropriation (total 
            mandatory)..................
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................       2,579       2,439       2,178
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..       9,761       9,142       8,469
73.10 Total new obligations.............       2,555       2,439       2,178
73.20 Total outlays (gross).............      -3,153      -3,112      -2,865
73.45 Recoveries of prior year 
        obligations.....................         -21
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..       9,142       8,469       7,782
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................          64          45          56
86.93 Outlays from discretionary 
        balances........................       3,089       3,067       2,809
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........       3,153       3,112       2,865
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................       2,579       2,439       2,178
90.00 Outlays...........................       3,153       3,112       2,865
----------------------------------------------------------------------------

[[Page 534]]



    Memorandum (non-add) entries:
93.03 Obligated balance, start of year: 
        Contract authority..............       2,748       2,139       1,639
93.04 Obligated balance, end of year: 
        Contract authority..............       2,139       1,639       1,139
---------------------------------------------------------------------------

    The Public Housing Capital Fund, a formula-driven program based on 
estimated need, is designed to respond to the capital and management 
improvement requirements of public housing.

    Of the nearly $2.2 billion requested for the Public Housing Capital 
Fund, approximately $2.1 billion is provided to cover annual accrual 
needs. Other uses include $24 million to provide supportive services to 
public housing residents under the Resident Opportunities and Supportive 
Services (ROSS) program, up to $20 million for emergencies or disasters, 
up to $11 million for technical assistance, up to $15 million for the 
Working Capital Fund, up to $15 million for public housing financial and 
physical assessment support, and up to $8 million for administrative and 
judicial receiverships.

                                

                      Public Housing Operating Fund

    For 2006 payments to public housing agencies for the operation and 
management of public housing, as authorized by section 9(e) of the 
United States Housing Act of 1937, as amended (42 U.S.C. 1437g(e)), 
[$3,600,000,000] $3,564,000,000, of which $9,900,000 in bonus funds 
shall be provided to public housing agencies that assist program 
participants in moving away from dependency on housing assistance 
programs: Provided, That of the total amount provided under this 
heading, $5,940,000 shall be for technical assistance related to the 
transition and implementation of asset-based management in public 
housing: Provided further, That, in fiscal year [2006] 2007 and all 
fiscal years hereafter, no amounts under this heading in any 
appropriations Act may be used for payments to public housing agencies 
for the costs of operation and management of public housing for any year 
prior to the current year of such Act: Provided further, That no funds 
may be used under this heading for the purposes specified in section 
9(k) of the United States Housing Act of 1937, as amended. (Department 
of Housing and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0163-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Operating Subsidy.................       2,422       3,565       3,554
00.02 Voluntary Incentive Bonus.........          10                      10
00.03 Department of Justice Anti-Drug...           8
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................       2,440       3,565       3,564
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           3           1
22.00 New budget authority (gross)......       2,437       3,564       3,564
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           1
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       2,441       3,565       3,564
23.95 Total new obligations.............      -2,440      -3,565      -3,564
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           1
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................       2,458       3,600       3,564
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                     -36
40.35   Appropriation permanently 
          reduced.......................         -20
40.36   Unobligated balance permanently 
          reduced.......................          -1
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............       2,437       3,564       3,564
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..       2,007         872         892
73.10 Total new obligations.............       2,440       3,565       3,564
73.20 Total outlays (gross).............      -3,572      -3,545      -3,564
73.40 Adjustments in expired accounts 
        (net)...........................          -2
73.45 Recoveries of prior year 
        obligations.....................          -1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         872         892         892
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................       1,571       2,673       2,673
86.93 Outlays from discretionary 
        balances........................       2,001         872         891
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........       3,572       3,545       3,564
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................       2,437       3,564       3,564
90.00 Outlays...........................       3,572       3,545       3,564
---------------------------------------------------------------------------

    Operating subsidies are provided to public housing authorities 
(PHAs) to assist in funding the operation and maintenance expenses of 
public housing units in accordance with Section 9(e) of the United 
States Housing Act of 1937, as amended.

    The following tables display the sources of housing authorities' 
expected revenue and expenditures by category. The distribution is based 
on historical data reported by housing authorities to HUD on the 
Statement of Operating Receipts and Expenditures.

  Sources of Housing Authorities' Operating Revenue (in millions of 
                               dollars)

                Category                 Annual income    Percent of 
                                                             total
Operating Subsidies.....................        $3,564             53%
Dwelling Rental.........................         2,908             43%
Investment..............................            66              1%
Other Income............................           232              3%
                                         -------------  --------------

   Total, Operating Revenue.............        $6,770            100%
                                         -------------  --------------

    Operating Subsidies.--Represent HUD's contributions to a housing 
authority's operating budget. Under the current formula-based approach, 
HUD sets a formula-determined allowable expense level (AEL) for each PHA 
and separately computes utility and audit costs. The PHA's dwelling 
rental income is also projected and the subsidy is the difference 
between the projected AEL, utility, and audit expenses and projected 
dwelling rental income. AEL is not based on actual cost data from PHAs. 
HUD, after consultation with PHAs, has adopted a new operating subsidy 
formula based on the previously congressionally sanctioned cost study 
conducted by the Harvard Graduate School of Design.

    Dwelling Rental.--Income derived from tenants' rents.

    Investment Income.--Income from interest earned on general fund 
investments.

    Other Income.--Includes income from other sources such as renting 
rooftop space for signs or broadcasting and from operating services for 
tenants, such as laundromats or day care centers.

 Housing Authorities' Operating Expenditures (in millions of dollars)

                Category                    Annual 
                                          expenditures    Percent of 
                                                             total
Utilities...............................        $1,481             22%
Administration..........................         1,905             28%
General Operating Expenses..............           586              9%
Maintenance.............................         2,443             36%
Tenant Services.........................           166              2%
Protective Services.....................           182              3%
Capital Expenditures....................             7              0%
Operating Reserve.......................             0              0%
                                         -------------  --------------

   Total, Operating Expenses/*/.........        $6,770            100%
                                         -------------  --------------

     * Includes Housing Self-Sufficiency Awards.

    Utilities.--Includes water, sewer, electricity, gas, and fuel.

[[Page 535]]

    Administration.--Includes administrative salaries, legal expenses, 
staff training, travel, accounting fees, auditing fees, sundry, and 
outside management costs.

    General Operating Expenses.--Includes insurance, payments made to 
local governments in lieu of taxes, terminal leave payments, employees 
benefit contributions, collection losses, interest on administrative and 
sundry notes, and other general expenses.

    Ordinary Maintenance and Operations.--Consists of expenses for 
labor, materials, contracts and garbage fees associated with the day-to-
day operation of the public housing authority.

    Tenant Services.--Covers salaries, recreation, publication, contract 
costs, training, and other expenses.

    Protective Services.--Includes expenses for labor, materials, and 
contract costs.

    Capital Expenditures.--Includes extraordinary maintenance, casualty 
losses, and property betterments (e.g. roofs and furnaces).

    Operating reserves.--Provides working capital funds and is a reserve 
for emergencies.

    Voluntary Graduation Bonus/Housing Self-Sufficiency Award.--This 
proposal provides up to $10 million in bonus funds for public housing 
authorities that move program participants away from dependency on 
public housing assistance programs within the current regulatory and 
statutory constraints.

    Asset-Based Management Technical Assistance.--Provides contracting 
and consultative services to support PHA's transitioning to project-
based accounting and asset-based management.

                                

             Drug Elimination Grants for Low-Income Housing

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0197-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          18
22.00 New budget authority (gross)......         -21
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           3
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.36   Unobligated balance permanently 
          reduced.......................         -21
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          17           8           2
73.20 Total outlays (gross).............          -6          -6          -2
73.45 Recoveries of prior year 
        obligations.....................          -3
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..           8           2
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.93 Outlays from discretionary 
        balances........................           6           6           2
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         -21
90.00 Outlays...........................           6           6           2
---------------------------------------------------------------------------

    The Public Housing Drug Elimination Grants program was terminated in 
the 2002 Budget. The program was found to have limited impact; current 
regulatory tools, such as tenant screening and eviction, are effective 
in reducing drug-related crime in public housing; and fighting crime and 
drugs is not directly related to HUD's core mission--it is the mission 
of federal law enforcement and other agencies whose programs help combat 
illegal drugs and crime in public housing communities. PHAs can 
supplement other public housing security efforts using operating funds 
if they choose.

                                

     Revitalization of Severely Distressed Public Housing (Hope VI)

    [For grants to public housing agencies for demolition, site 
revitalization, replacement housing, and tenant-based assistance grants 
to projects as authorized by section 24 of the United States Housing Act 
of 1937, as amended, $100,000,000, to remain available until September 
30, 2007, of which the Secretary may use up to $2,000,000 for technical 
assistance and contract expertise, to be provided directly or indirectly 
by grants, contracts or cooperative agreements, including training and 
cost of necessary travel for participants in such training, by or to 
officials and employees of the department and of public housing agencies 
and to residents: Provided, That none of such funds shall be used 
directly or indirectly by granting competitive advantage in awards to 
settle litigation or pay judgments, unless expressly permitted herein.] 
Of the unobligated balances remaining from funds appropriated in fiscal 
year 2006 under the heading ``Revitalization of Severely Distressed 
Public Housing (HOPE VI)'' for grants to public housing agencies for 
demolition site revitalization, replacement housing, and tenant-based 
assistance grants to projects as authorized by section 24 of the United 
States Housing Act of 1937 as amended, $99,000,000 is cancelled. 
(Department of Housing and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0218-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Direct program activity...........         165         140
00.02 Technical Assistance..............                       4
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................         165         144
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........         165         144          99
22.00 New budget authority (gross)......         143          99         -99
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           1
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......         309         243
23.95 Total new obligations.............        -165        -144
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........         144          99
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................         144         100
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -1
40.35   Appropriation permanently 
          reduced.......................          -1                     -99
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............         143          99         -99
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..       2,669       2,138       1,631
73.10 Total new obligations.............         165         144
73.20 Total outlays (gross).............        -695        -651        -594
73.45 Recoveries of prior year 
        obligations.....................          -1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..       2,138       1,631       1,037
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................                                  -3
86.93 Outlays from discretionary 
        balances........................         695         651         597
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........         695         651         594
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         143          99         -99
90.00 Outlays...........................         695         651         594
---------------------------------------------------------------------------

    The HOPE VI program has completed its goal of contributing to the 
demolition of 100,000 severely distressed public housing units. No 
additional funds are requested and the funds remaining at the end of 
2006 are proposed for rescission. The program, while completing its 
goal, was found to be more costly than other programs and slow to 
complete redevelopments. The remaining balance of over $2 billion at the 
end of 2005 will spend out over several years as the redevelopment 
projects are completed.

    Cumulative results of the HOPE VI program as of June 30, 2005 
follow: 60,923 households have been relocated,

[[Page 536]]

76,766 units have been demolished, 43,397 units (new and rehabilitated) 
have been completed, and 39,931 completed units have been occupied.

                                

                  Native American Housing Block Grants

                      (including transfer of funds)

    For the Native American Housing Block Grants program, as authorized 
under title I of the Native American Housing Assistance and Self-
Determination Act of 1996 (NAHASDA) (25 U.S.C. 4111 et seq.), 
[$630,000,000] $625,680,000, to remain available until expended: 
Provided, That, notwithstanding the Native American Housing Assistance 
and Self-Determination Act of 1996, to determine the amount of the 
allocation under title I of such Act for each Indian tribe, the 
Secretary shall apply the formula under section 302 of such Act with the 
need component based on single-race Census data and with the need 
component based on multi-race Census data, and the amount of the 
allocation for each Indian tribe shall be the greater of the two 
resulting allocation amounts: Provided further, That of the amounts made 
available under this heading, [$1,000,000 shall be contracted through 
the Secretary as technical assistance and capacity building to be used 
by the National American Indian Housing Council in support of the 
implementation of NAHASDA; $4,500,000] $3,465,000 shall be to support 
the inspection of Indian housing units, contract expertise, training, 
and technical assistance in the training, oversight, and management of 
such Indian housing and tenant-based assistance, including up to 
$300,000 for related travel[; up to $4,000,000 may be used for 
emergencies that constitute imminent threats to health and safety, 
notwithstanding any other provision of law (including section 305 of 
this Act]: Provided further, That of the amount provided under this 
heading, [$2,000,000] $1,980,000 shall be made available for the cost of 
guaranteed notes and other obligations, as authorized by title VI of 
NAHASDA: Provided further, That such costs, including the costs of 
modifying such notes and other obligations, shall be as defined in 
section 502 of the Congressional Budget Act of 1974, as amended: 
Provided further, That these funds are available to subsidize the total 
principal amount of any notes and other obligations, any part of which 
is to be guaranteed, not to exceed [$17,926,000] $14,938,825: Provided 
further, That for administrative expenses to carry out the guaranteed 
loan program, up to [$150,000] $148,500 from amounts in the third 
proviso, which shall be transferred to and merged with the appropriation 
for ``Salaries and Expenses''. (Department of Housing and Urban 
Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0313-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Indian Housing Block Grants.......         642         613         620
00.02 Title VI Loan Guarantee Subsidy...           1           1           2
00.03 Technical Assistance..............           7           4           4
00.04 Working Capital Fund..............           3
00.05 National American Indian Housing 
        Council.........................           2           1
00.07 Upward reestimate.................           4           2
00.11 Emergencies.......................                       4
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................         659         625         626
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........         114          61          62
22.00 New budget authority (gross)......         605         626         626
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           1
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......         720         687         688
23.95 Total new obligations.............        -659        -625        -626
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          61          62          62
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................         627         630         626
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -6
40.35   Appropriation permanently 
          reduced.......................          -5
40.36   Unobligated balance permanently 
          reduced.......................         -21
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............         601         624         626
      Mandatory:

60.00   Appropriation...................           4           2
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................         605         626         626
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         939         909         816
73.10 Total new obligations.............         659         625         626
73.20 Total outlays (gross).............        -688        -718        -702
73.45 Recoveries of prior year 
        obligations.....................          -1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         909         816         740
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................         182         109         109
86.93 Outlays from discretionary 
        balances........................         502         607         593
86.97 Outlays from new mandatory 
        authority.......................           4           2
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........         688         718         702
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         605         626         626
90.00 Outlays...........................         688         718         702
---------------------------------------------------------------------------

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in 
                            millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0313-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Guaranteed loan levels supportable by subsidy 
                budget authority:
215001Title VI..........................           4          10          15
                                           ---------   ---------  ----------
215901Total loan guarantee levels.......           4          10          15
    Guaranteed loan subsidy (in percent):
232001Title VI..........................       10.32       12.26       11.99
                                           ---------   ---------  ----------
232901Weighted average subsidy rate.....       10.32       12.26       11.99
    Guaranteed loan subsidy budget authority:
233001Title VI..........................           1           1           2
                                           ---------   ---------  ----------
233901Total subsidy budget authority....           1           1           2
    Guaranteed loan subsidy outlays:
234001Title VI..........................           1           1           2
                                           ---------   ---------  ----------
234901Total subsidy outlays.............           1           1           2
    Guaranteed loan upward reestimate subsidy 
                budget authority:
235001Title VI..........................           4           1
                                           ---------   ---------  ----------
235901Total upward reestimate budget 
        authority.......................           4           1
----------------------------------------------------------------------------

    Administrative expense data:
351001Budget authority..................
358001Outlays from balances.............
359001Outlays from new authority........
---------------------------------------------------------------------------

    Title I of the Native American Housing Assistance and Self-
Determination Act (NAHASDA) of 1996 (P.L. 104-330) authorized the Native 
American Housing Block Grant program. This program provides an 
allocation of funds on a formula basis to Indian tribes and their 
tribally designated housing entities to help them address housing needs 
within their communities.

    The Native American Housing Block Grant program includes a 
guaranteed loan provision (Title VI). A guarantee level of $14.9 million 
is proposed for this loan guarantee program for 2007. A primary goal of 
the Title VI program is to encourage private lenders to provide 
financing in Indian country. Therefore, the program provides for the 
federal guarantee of notes or other obligations issued by Indian tribes 
or tribally designated housing entities for the purpose of financing 
affordable housing activities described in section 202 of the Act.

    As required by the Federal Credit Reform Act of 1990, this account 
records, for this program, the subsidy costs associated with the loan 
guarantees committed in 1998 and be

[[Page 537]]

yond (including modifications of guarantees that resulted from 
obligations in any given year), as well as administrative expenses of 
this program. The subsidy amounts are estimated on a present value 
basis; the administrative expenses are estimated on a cash basis.

                                

                   Native Hawaiian Housing Block Grant

    For the Native Hawaiian Housing Block Grant program, as authorized 
under title VIII of the Native American Housing Assistance and Self-
Determination Act of 1996 (25 U.S.C. 4111 et seq.), [$8,815,000] 
$5,940,000, to remain available until expended[, of which $352,606 shall 
be for training and technical assistance activities] of which $299,211 
shall be for training and technical activities, including up to $100,000 
for related travel. (Department of Housing and Urban Development 
Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0235-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Native Hawaiian Housing Block 
        Grant...........................                       9           6
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................                       9           6
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......                       9           6
23.95 Total new obligations.............                      -9          -6
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................                       9           6
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..                                   8
73.10 Total new obligations.............                       9           6
73.20 Total outlays (gross).............                      -1          -3
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..                       8          11
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................                       1           1
86.93 Outlays from discretionary 
        balances........................                                   2
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........                       1           3
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................                       9           6
90.00 Outlays...........................                       1           3
---------------------------------------------------------------------------

    The Hawaiian Homelands Homeownership Act of 2000 (P.L. 106-568) 
amended the Native American Housing Assistance and Self-Determination 
Act of 1996 by adding Title VIII, which authorized the Native Hawaiian 
Housing Block Grant program. This program provides an allocation of 
funds to assist and promote affordable housing activities to develop, 
maintain and operate affordable housing for eligible low-income Native 
Hawaiian families.

    It authorizes annual grants to the Department of Hawaiian Home Lands 
(DHHL) for housing and housing-related assistance, pursuant to an annual 
housing plan, within the area in which DHHL is authorized to provide 
that assistance. DHHL uses performance measures and benchmarks that are 
based on the needs and priorities established in its five- and one-year 
housing plans.

                                

Public enterprise funds:

            Low-Rent Public Housing--Loans and Other Expenses

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4098-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
09.01 Reimbursable program: Capital 
        investment loans to PHAs........           3           3           3
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 33.0)...................           3           3           3
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          20          20
22.00 New budget authority (gross)......         103          98         103
22.60 Portion applied to repay debt.....         -83         -88         -93
22.60 Portion applied to repay debt 
        (FFB)...........................         -17         -27          -7
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          23           3           3
23.95 Total new obligations.............          -3          -3          -3
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          20
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Mandatory:

67.10   Authority to borrow.............          20          10          10
      Mandatory:

69.00   Spending authority from 
          offsetting collections: 
          Offsetting collections (cash).          83          88          93
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................         103          98         103
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         440         370         275
73.10 Total new obligations.............           3           3           3
73.20 Total outlays (gross).............         -73         -98        -103
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         370         275         175
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.97 Outlays from new mandatory 
        authority.......................          63          98         103
86.98 Outlays from mandatory balances...          10
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........          73          98         103
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

88.00   Offsetting collections (cash) 
          from: Federal sources.........         -83         -88         -93
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................          20          10          10
90.00 Outlays...........................         -10          10          10
---------------------------------------------------------------------------

               Status of Direct Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4098-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of direct loans 
                outstanding:
1210  Outstanding, start of year........       1,056         973         885
1251  Repayments: Repayments and 
        prepayments.....................         -83         -88         -93
                                           ---------   ---------  ----------
1290    Outstanding, end of year........         973         885         792
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4098-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........       1,649       1,390       1,123
2251  Repayments and prepayments........        -259        -267        -267
                                           ---------   ---------  ----------
2290    Outstanding, end of year........       1,390       1,123         856
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..       1,390       1,123         856
---------------------------------------------------------------------------

    The Low-Rent Public Housing Loan Fund provides direct Federal loans 
to fund remaining Public Housing Agency and Indian Housing Authority 
construction, acquisition, and modernization activities reserved under 
the Annual Contributions appropriation through 1986. These loans are 
made by borrowing from the Treasury. Under legislation enacted during 
1986 (Public Law 99-272), amounts borrowed from the Treasury are 
forgiven at the end of each fiscal year and the loans to PHAs/IHAs are 
forgiven as construction, acquisition, and modernization activities are 
completed. Under the provisions of this legislation, $20 million 
borrowed from the Treasury was forgiven in 2005, $10 million will be 
borrowed from the Treasury and forgiven in 2006, and an estimated $10 
million will be borrowed from the Treasury and forgiven in 2007.

[[Page 538]]

    Since 1987, new reservations of capital funds for construction, 
acquisition, and modernization activities have been provided directly 
from the Public Housing Capital Fund appropriations.

    Operating results.--The actual net operating income for 2004 and 
2005 follows:

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4098-0-3-604

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
1101

Federal assets: Fund balances with Treasury

460

389

      Net value of assets related to 
          pre-1992 direct loans 
          receivable and acquired 
          defaulted guaranteed loans 
          receivable:

1601

Direct loans, gross

1,056

973

1602

Interest receivable

65

59





1604

Direct loans and interest receivable, net

1,121

1,032





1699

Value of assets related to direct loans

1,121

1,032





1999

Total assets

1,581

1,421

    LIABILITIES:
      Federal liabilities:

2102

Interest payable

128

118

2104

Resources payable to Treasury

1,055

972





2999

Total liabilities

1,183

1,090

    NET POSITION:
3100

Appropriated capital

404

338

3300

Cumulative results of operations

-6

-7





3999

Total net position

398

331





4999

Total liabilities and net position

1,581

1,421

-----------------------------------------------------------------------------------------------

                                

Credit accounts:

           Indian Housing Loan Guarantee Fund Program Account

                      (including transfer of funds)

    For the cost of guaranteed loans, as authorized by section 184 of 
the Housing and Community Development Act of 1992 (12 U.S.C. 1715z-13a), 
[$4,000,000] $5,940,000, to remain available until expended: Provided, 
That such costs, including the costs of modifying such loans, shall be 
as defined in section 502 of the Congressional Budget Act of 1974, as 
amended: Provided further, That these funds are available to subsidize 
total loan principal, any part of which is to be guaranteed, not to 
exceed [$116,276,000] $251,000,000, to remain available until committed.
    In addition, for administrative expenses to carry out the guaranteed 
loan program, up to $247,500 from amounts in the first paragraph which 
shall be transferred to and merged with the appropriation for ``Salaries 
and Expenses''. (Department of Housing and Urban Development 
Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0223-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.02 Guaranteed loan subsidy...........           4           2           6
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................           4           2           6
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          36           4           6
22.00 New budget authority (gross)......         -28           4           6
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......           8           8          12
23.95 Total new obligations.............          -4          -2          -6
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           4           6           6
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................           5           4           6
40.36   Unobligated balance permanently 
          reduced.......................         -33
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............         -28           4           6
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..           1           3           3
73.10 Total new obligations.............           4           2           6
73.20 Total outlays (gross).............          -2          -2          -7
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..           3           3           2
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................           2           1           1
86.93 Outlays from discretionary 
        balances........................                       1           6
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........           2           2           7
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         -28           4           6
90.00 Outlays...........................           2           2           7
---------------------------------------------------------------------------

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in 
                            millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0223-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Guaranteed loan levels supportable by subsidy 
                budget authority:
215001Indian Housing Loan Guarantee.....         103         116         251
                                           ---------   ---------  ----------
215901Total loan guarantee levels.......         103         116         251
    Guaranteed loan subsidy (in percent):
232001Indian Housing Loan Guarantee.....        2.58        2.42        2.35
                                           ---------   ---------  ----------
232901Weighted average subsidy rate.....        2.58        2.42        2.35
    Guaranteed loan subsidy budget authority:
233001Indian Housing Loan Guarantee.....           3           2           6
                                           ---------   ---------  ----------
233901Total subsidy budget authority....           3           2           6
    Guaranteed loan subsidy outlays:
234001Indian Housing Loan Guarantee.....           2           2           2
                                           ---------   ---------  ----------
234901Total subsidy outlays.............           2           2           2
    Guaranteed loan downward reestimate subsidy 
                budget authority:
237001Downward reestimate subsidy budget 
        authority.......................          -4          -1
                                           ---------   ---------  ----------
237901Total downward reestimate subsidy 
        budget authority................          -4          -1
---------------------------------------------------------------------------

    As required by the Federal Credit Reform Act of 1990, this account 
records, for this program, the subsidy costs associated with the loan 
guarantees committed in 1992 and beyond (including modifications of 
guarantees that resulted from obligations in any year). The subsidy 
amounts are estimated on a net present value basis. The administrative 
expenses are shown on a cash basis.

    This program provides access to sources of private financing for 
Indian families, Indian tribes, and their tribally designated housing 
entities who otherwise could not acquire housing financing because of 
the unique legal status of Indian trust land.

                                

          Indian Housing Loan Guarantee Fund Financing Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4104-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Default Claims....................                                   1
00.02 Loan Guarantee Subsidy............                       4           5
                                           ---------   ---------  ----------
00.91   Direct Program by Activities....                       4           6
08.02 Downward Re-estimate..............           3           1
08.04 Downward Re-estimate Interest.....           1
                                           ---------   ---------  ----------
08.91   Direct Program by Activities....           4           1
                                           ---------   ---------  ----------
10.00   Total new obligations...........           4           5           6
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           9          10           7

[[Page 539]]

22.00 New financing authority (gross)...           5           2           2
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          14          12           9
23.95 Total new obligations.............          -4          -5          -6
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          10           7           3
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Spending authority from offsetting 
          collections:

        Discretionary:
68.00     Federal sources...............           3           2           2
68.10     Change in uncollected customer 
            payments from Federal 
            sources (unexpired).........           2
                                           ---------   ---------  ----------
68.90       Spending authority from 
              offsetting collections 
              (total discretionary).....           5           2           2
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          -1          -3           2
73.10 Total new obligations.............           4           5           6
73.20 Total financing disbursements 
        (gross).........................          -4
74.00 Change in uncollected customer 
        payments from Federal sources 
        (unexpired).....................          -2
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          -3           2           8
87.00 Total financing disbursements 
        (gross).........................           4
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

        Offsetting collections (cash) 
            from:
88.00     Federal sources: Payments from 
            program account.............          -2          -2          -2
88.40     Non-Federal sources...........          -1
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........          -3          -2          -2
      Against gross financing authority only:

88.95   Change in receivables from 
          program accounts..............          -2
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............
90.00 Financing disbursements...........           1          -2          -2
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4104-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on commitments:
2111  Limitation on guaranteed loans 
        made by private lenders.........         145          99         104
2121  Limitation available from carry-
        forward.........................         750         169         152
2142  Uncommitted loan guarantee 
        limitation......................        -623
2143  Uncommitted limitation carried 
        forward.........................        -169        -152          -5
                                           ---------   ---------  ----------
2150    Total guaranteed loan 
          commitments...................         103         116         251
2199  Guaranteed amount of guaranteed 
        loan commitments................         103         116         251
----------------------------------------------------------------------------

    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........         126         192         200
2231  Disbursements of new guaranteed 
        loans...........................          76          26          26
2251  Repayments and prepayments........         -10         -14         -14
2263  Adjustments: Terminations for 
        default that result in claim 
        payments........................                      -4          -4
                                           ---------   ---------  ----------
2290    Outstanding, end of year........         192         200         208
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..         192         143         143
---------------------------------------------------------------------------

    As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the Government 
resulting from the loan guarantees committed in 1992 and beyond 
(including modifications of loan guarantees that resulted from 
obligations in any year). The amounts in this account are a means of 
financing and are not included in the budget totals. As required by the 
Federal Credit Reform Act of 1990, no administrative expenses can be 
recorded in the financing account.

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4104-0-3-604

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
1101

Federal assets: Fund balances with Treasury

8

7





1999

Total assets

8

7

    LIABILITIES:
2204

Non-Federal liabilities: Liabilities for loan guarantees

8

7





2999

Total liabilities

8

7





4999

Total liabilities and net position

8

7

-----------------------------------------------------------------------------------------------

                                

       Native Hawaiian Housing Loan Guarantee Fund Program Account

                      (including transfer of funds)

    For the cost of guaranteed loans, as authorized by section 184A of 
the Housing and Community Development Act of 1992 (12 U.S.C. 1715z-13b), 
[$900,000] $1,010,000, to remain available until expended: Provided, 
That such costs, including the costs of modifying such loans, shall be 
as defined in section 502 of the Congressional Budget Act of 1974, as 
amended: Provided further, That these funds are available to subsidize 
total loan principal, any part of which is to be guaranteed, not to 
exceed [$35,714,290] $43,000,000, to remain available until committed.
    In addition, for administrative expenses to carry out the guaranteed 
loan program, up to [$35,000] $34,650 from amounts in the first 
paragraph which shall be transferred to and merged with the 
appropriation for ``Salaries and Expenses''. (Department of Housing and 
Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0233-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.02 Guaranteed loan subsidy...........                       1           1
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................                       1           1
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           3           4           4
22.00 New budget authority (gross)......           1           1           1
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......           4           5           5
23.95 Total new obligations.............                      -1          -1
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           4           4           4
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................           1           1           1
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                       1           1
73.20 Total outlays (gross).............                      -1          -1
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.93 Outlays from discretionary 
        balances........................                       1           1
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................           1           1           1
90.00 Outlays...........................                       1           1
---------------------------------------------------------------------------

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in 
                            millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0233-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Guaranteed loan levels supportable by subsidy 
                budget authority:
215001Native Hawaiian Housing...........           2          36          43
                                           ---------   ---------  ----------
215901Total loan guarantee levels.......           2          36          43
    Guaranteed loan subsidy (in percent):
232001Native Hawaiian Housing...........        2.58        2.42        2.35
                                           ---------   ---------  ----------
232901Weighted average subsidy rate.....        0.00        0.00        0.00
    Guaranteed loan subsidy budget authority:
233001Native Hawaiian Housing...........                       1           1
                                           ---------   ---------  ----------

[[Page 540]]


233901Total subsidy budget authority....                       1           1
    Guaranteed loan subsidy outlays:
234001Native Hawaiian Housing...........                       1           1
                                           ---------   ---------  ----------
234901Total subsidy outlays.............                       1           1
----------------------------------------------------------------------------

    Administrative expense data:
351001Budget authority..................
358001Outlays from balances.............
359001Outlays from new authority........
---------------------------------------------------------------------------

    As required by the Federal Credit Reform Act of 1990, this account 
records, for this program, the subsidy costs associated with the loan 
guarantees committed in 2001 and beyond (including modifications of 
guarantees that resulted from obligations in any year). The subsidy 
amounts are estimated on a net present value. The administrative 
expenses are shown on a cash basis.

    This program provides access to sources of private financing to 
eligible Native Hawaiian families who reside on the Hawaiian Home Lands 
and who otherwise could not acquire private financing because of the 
unique legal status of the Hawaiian Home Lands.

                                

      Native Hawaiian Housing Loan Guarantee Fund Financing Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4351-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.02 Direct Program Activity...........                                   1
                                           ---------   ---------  ----------
10.00   Total new obligations...........                                   1
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........                                   1
22.00 New financing authority (gross)...                       1           1
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......                       1           2
23.95 Total new obligations.............                                  -1
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........                       1           1
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Discretionary:

68.00   Spending authority from 
          offsetting collections 
          (gross): Federal sources......                       1           1
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                                   1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..                                   1
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

88.00   Offsetting collections (cash) 
          from: Federal sources: 
          Payments from program account.                      -1          -1
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............
90.00 Financing disbursements...........                      -1          -1
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4351-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on commitments:
2111  Limitation on guaranteed loans 
        made by private lenders.........          37          35          35
2121  Limitation available from carry-
        forward.........................         120         155         154
2143  Uncommitted limitation carried 
        forward.........................        -155        -154        -146
                                           ---------   ---------  ----------
2150    Total guaranteed loan 
          commitments...................           2          36          43
2199  Guaranteed amount of guaranteed 
        loan commitments................           2          36          43
----------------------------------------------------------------------------

    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........                       2           1
2231  Disbursements of new guaranteed 
        loans...........................           2                       1
2251  Repayments and prepayments........                      -1          -1
                                           ---------   ---------  ----------
2290    Outstanding, end of year........           2           1           1
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..           2           1           1
---------------------------------------------------------------------------

    As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the government 
resulting from the loan guarantees committed in 2001 and beyond 
(including modifications of loan guarantees that resulted from 
obligations in any year). The amounts in this account are a means of 
financing and are not included in the budget totals. As required by the 
Federal Credit Reform Act of 1990, no administrative expenses can be 
recorded in the financing account.

                                

          Title VI Indian Federal Guarantees Financing Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4244-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Default Claims....................                       1           2
08.02 Downward Reestimate...............                       2
                                           ---------   ---------  ----------
10.00   Total new obligations...........                       3           2
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          10          15          15
22.00 New financing authority (gross)...           5           3           2
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          15          18          17
23.95 Total new obligations.............                      -3          -2
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          15          15          15
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Mandatory:

69.00   Spending authority from 
          offsetting collections 
          (gross): Offsetting 
          collections (cash)............           5           3           2
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..                                   3
73.10 Total new obligations.............                       3           2
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..                       3           5
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

        Offsetting collections (cash) 
            from:
88.00     Federal sources...............                      -1          -2
88.00     Upward Reestimate.............          -5          -2
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........          -5          -3          -2
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............
90.00 Financing disbursements...........          -5          -3          -2
---------------------------------------------------------------------------

[[Page 541]]



             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4244-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on commitments:
2111  Limitation on guaranteed loans 
        made by private lenders.........          18          18          15
2121  Limitation available from carry-
        forward.........................         382          30           8
2142  Uncommitted loan guarantee 
        limitation......................        -366         -30
2143  Uncommitted limitation carried 
        forward.........................         -30          -8          -8
                                           ---------   ---------  ----------
2150    Total guaranteed loan 
          commitments...................           4          10          15
2199  Guaranteed amount of guaranteed 
        loan commitments................           4           2           2
----------------------------------------------------------------------------

    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........          77          80          84
2231  Disbursements of new guaranteed 
        loans...........................           4          10          15
2251  Repayments and prepayments........          -1          -5          -5
2263  Adjustments: Terminations for 
        default that result in claim 
        payments........................                      -1          -2
                                           ---------   ---------  ----------
2290    Outstanding, end of year........          80          84          92
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..          80          84          92
---------------------------------------------------------------------------

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4244-0-3-604

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
1101

Federal assets: Fund balances with Treasury

10

15





1999

Total assets

10

15

    LIABILITIES:
2204

Non-Federal liabilities: Liabilities for loan guarantees

10

15





2999

Total liabilities

10

15





4999

Total liabilities and net position

10

15

-----------------------------------------------------------------------------------------------

    As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the Government 
resulting from loan guarantees committed in 1992 and beyond (including 
modifications of loan guarantees that resulted from commitments in any 
year). The amounts in this account are a means of financing and are not 
included in the budget totals. As required by the Federal Credit Reform 
Act of 1990, no administrative expenses can be recorded in the financing 
account.

                                


 
                   COMMUNITY PLANNING AND DEVELOPMENT

                              Federal Funds

General and special funds:

               Housing Opportunities for Persons With AIDS

    For carrying out the Housing Opportunities for Persons with AIDS 
program, as authorized by the AIDS Housing Opportunity Act (42 U.S.C. 
12901 et seq.), [$289,000,000] $300,100,000, to remain available until 
September 30, [2007] 2008, except that amounts allocated pursuant to 
section 854(c)(3) of such Act shall remain available until September 30, 
[2008] 2009: Provided, That the Secretary shall renew all expiring 
contracts for permanent supportive housing that were funded under 
section 854(c)(3) of such Act that meet all program requirements before 
awarding funds for new contracts and activities authorized under this 
section: Provided further, That the Secretary may use up to [$1,500,000] 
$1,485,000 of the funds under this heading for training, oversight, and 
technical assistance activities and $1,485,000 shall be transferred to 
the Working Capital Fund. (Department of Housing and Urban Development 
Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0308-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Housing for Persons with HIV/AIDS.         286         309         300
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................         286         309         300
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........         103         100          77
22.00 New budget authority (gross)......         282         286         300
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           1
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......         386         386         377
23.95 Total new obligations.............        -286        -309        -300
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........         100          77          77
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................         284         289         300
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -3
40.35   Appropriation permanently 
          reduced.......................          -2
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............         282         286         300
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         463         468         493
73.10 Total new obligations.............         286         309         300
73.20 Total outlays (gross).............        -280        -284        -289
73.45 Recoveries of prior year 
        obligations.....................          -1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         468         493         504
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................           1          11          12
86.93 Outlays from discretionary 
        balances........................         279         273         277
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........         280         284         289
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         282         286         300
90.00 Outlays...........................         280         284         289
---------------------------------------------------------------------------

    The Housing Opportunities for Persons with AIDS program provides 
States and localities with resources and incentives to devise long-term 
comprehensive strategies for meeting the housing needs of persons with 
HIV/AIDS and their families.

    Up to $1.5 million is used for technical assistance to grantees and 
project sponsors to strengthen management of programs and ensure 
responsiveness in meeting client needs. States and metropolitan areas 
receive 90 percent of the remaining funds by formula based on the number 
of cases of AIDS and, for metropolitan areas, the incidence of AIDS in 
that area. The final 10 percent is awarded competitively to States, 
local governments, and private nonprofit entities, including faith-based 
organizations, for projects of national significance with priority for 
renewal of the projects providing permanent supportive housing. Awards 
are also made to States and local governments for projects in 
jurisdictions which do not qualify for a formula allocation. A 
legislative proposal to amend the HOPWA authorization language will be 
submitted allowing HUD the opportunity to update the current program 
formula. Whereas the current formula distributes formula grant resources 
by the cumulative number of AIDS cases, the revised formula will account 
for the present number of people living with AIDS as well as the need 
for housing in that jurisdiction. The requested funding for 2007 will 
support approximately 75,000 housing units for persons with HIV/AIDS and 
their families.

                                

                       Community Development Fund

                     (including transfers of funds)

                          (including recission)

    For assistance to units of State and local government, and to other 
entities, for economic and community development activities, and for 
other purposes, [$4,220,000,000] $3,032,000,000, to remain available 
until September 30, [2008] 2009, unless otherwise specified: Provided, 
That of the amount provided, [$3,748,400,000] $2,974,580,000 is for 
carrying out the community development block grant program under title I 
of the Housing and Community Development Act of

[[Page 542]]

1974, as amended (the ``Act'' herein) (42 U.S.C. 5301 et seq.): Provided 
further, That unless explicitly provided for under this heading (except 
for planning grants provided in the second paragraph and amounts made 
available under the third paragraph), not to exceed 20 percent of any 
grant made with funds appropriated under this heading shall be expended 
for planning and management development and administration: [Provided 
further, That $1,600,000 shall be transferred to the Working Capital 
Fund:] Provided further, That [$60,000,000] $57,420,000 shall be for 
grants to federally-recognized Indian tribes notwithstanding section 
106(a)(1) of such Act, of which, notwithstanding any other provision of 
law (including section 305 of this Act), up to [$4,000,000] $3,960,000 
may be used for emergencies that constitute imminent threats to health 
and safety[; $50,000,000 shall be available for YouthBuild program 
activities authorized by subtitle D of title IV of the Cranston-Gonzalez 
National Affordable Housing Act, as amended, and such activities shall 
be an eligible activity with respect to any funds made available under 
this heading: Provided, That local YouthBuild programs that demonstrate 
an ability to leverage private and nonprofit funding shall be given a 
priority for YouthBuild funding: Provided further, That no more than 
eight percent of any grant award under the YouthBuild program may be 
used for administrative costs: Provided further, That of the amount made 
available for YouthBuild not less than $4,000,000 is for grants to 
establish YouthBuild programs in underserved and rural areas and 
$1,000,000 is to be made available for a grant to YouthBuild USA for 
capacity building for community development and affordable housing 
activities as specified in section 4 of the HUD Demonstration Act of 
1993, as amended].
    [Of the amount made available under this heading, $310,000,000 shall 
be available for grants for the Economic Development Initiative (EDI) to 
finance a variety of targeted economic investments in accordance with 
the terms and conditions specified in the statement of managers 
accompanying this Act: Provided, That none of the funds provided under 
this paragraph may be used for program operations: Provided further, 
That, for fiscal years 2004, 2005 and 2006, no unobligated funds for EDI 
grants may be used for any purpose except acquisition, planning, design, 
purchase of equipment, revitalization, redevelopment or construction.]
    [Of the amount made available under this heading, $50,000,000 shall 
be available for neighborhood initiatives that are utilized to improve 
the conditions of distressed and blighted areas and neighborhoods, to 
stimulate investment, economic diversification, and community 
revitalization in areas with population outmigration or a stagnating or 
declining economic base, or to determine whether housing benefits can be 
integrated more effectively with welfare reform initiatives: Provided, 
That amounts made available under this paragraph shall be provided in 
accordance with the terms and conditions specified in the statement of 
managers accompanying this Act.]
    Of the unobligated balances remaining from funds appropriated in 
fiscal year 2006 under the heading, ``Community Development Fund,'' for 
grants for the Economic Development Initiative (EDI), $306,900,000 is 
cancelled.
    Of the unobligated balances remaining from funds appropriated in 
fiscal year 2006 under the heading, ``Community Development Fund,'' for 
grants for neighborhood initiatives, $49,500,000 is cancelled.
    [The referenced statement of the managers under the heading 
``Community Development Fund'' in title II of division G of Public Law 
108-199 is deemed to be amended with respect to item number 181 striking 
``Volusia County'' and inserting ``Lively Arts Center in Volusia 
County''.]
    [The referenced statement of the managers under the heading 
``Community Development Fund'' in title II of division G of Public Law 
108-199 is deemed to be amended with respect to item number 216 by 
striking ``for construction'' and inserting ``for planning, design, and 
engineering''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-447 is deemed to be amended with respect to item number 
369 by striking ``for the construction of HomeAid America temporary 
homeless shelters in Costa Mesa, California'' and inserting ``for the 
construction of shelters for the temporarily homeless in New York City, 
New York''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-447 is deemed to be amended with respect to item number 
502 by striking ``for acquisition of'' and inserting ``for renovations 
of''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-447 is deemed to be amended with respect to item number 
405 by striking ``Willington Senior Center'' and inserting ``buildings 
and facilities associated with the Willington Senior Housing Center''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-447 is deemed to be amended with respect to item number 
674 by striking ``City of Big Island, Virginia for the Sedalia Center 
restoration'' and inserting ``to restore the Sedalia Center in Bedford 
County, Virginia''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-447 is deemed to be amended with respect to item number 
469 by striking ``to the City of Havana, Illinois'' and inserting 
``Havana, Illinois, Rural Fire District''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-447 is deemed to be amended with respect to item number 
554 by striking ``$250,000 to the Town of Monroe, New York for 
construction of the Monroe Free Library'' and inserting ``$150,000 for 
the Town of Lewisboro, New York for infrastructure improvements for the 
Onatru Farm Community Center and $100,000 for the Town of Poughkeepsie, 
New York for streetscape and related improvements in the Arlington 
Business District''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-447 is deemed to be amended with respect to item number 
445 by striking ``City of St. Petersburg, Florida'' and inserting 
``Catholic Charities, Diocese of St. Petersburg, Florida''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-199 is deemed to be amended with respect to item number 
103 for the Mission Preservation Foundation in San Juan Capistrano, 
California by striking ``for the Great Stone Church restoration 
project'' and inserting ``to construct and install environment controls 
and security measures''.]
    [The referenced statement of the managers under this heading in 
division A of the Emergency Appropriations Act for Defense, Global War 
on Terror, and Tsunami Relief, 2005 (Public Law 109-13) is amended--
        (1) in section 6070 (119 Stat. 299), by striking paragraph (1); 
    and
        (2) in section 6071 (119 Stat. 299), by striking paragraph (1).
    The referenced statement of the managers under the heading 
``Community Development Fund'' in title II of division I of Public Law 
108-447 is deemed to be amended with respect to item number 83 by 
striking ``construction'' and inserting ``planning, design, engineering, 
and construction''.]
    [The referenced statement of the managers under the heading 
``Community Development Fund'' in title II of division G of Public Law 
108-199 is deemed to be amended with respect to item number 216 by 
striking ``for construction'' and inserting ``for planning, design, and 
engineering''.]
    [The referenced statement of the managers under the heading 
``Community Development Fund'' in title II of division I of Public Law 
108-447 is deemed to be amended with respect to item 9 by striking ``for 
costs associated with the construction'' and inserting ``to be used for 
the planning and design''.]
    [The referenced statement of the managers under the heading 
``Community Development Fund'' in title II of division I of Public Law 
108-447 is deemed to be amended with respect to item 260 by adding 
before the period ``including $120,000 for property renovation at 754 
Broad Street for the Family Center emergency shelter for families and 
children''.]
    [The referenced statement of the managers accompanying Public Law 
106-74 is deemed to be amended by inserting on page 113 ``, of which 
$47,500 may be used for physical improvements at the South Providence 
Development Corporation business incubator facility or CleanScape, 
including associated project management costs'' after ``$100,000 for the 
South Providence Development Corporation in Providence, Rhode Island for 
a child care facility''.]
    [The referenced statement of the managers under the heading 
``Community Development Fund'' in title II of division I of Public Law 
108-447 is deemed to be amended with respect to item number 30 by 
striking ``City of San Francisco'' and inserting ``San Francisco Museum 
and Historical Society''.]
    [The referenced statement of the managers under the heading 
``Community Development Fund'' in title II of division G of Public Law 
108-199 is deemed to be amended with respect to item number

[[Page 543]]

122 by striking ``City of San Francisco'' and inserting ``San Francisco 
Museum and Historical Society''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-199 is deemed to be amended with respect to item number 
855 by striking ``the Skagit County Children's Museum in Mount Vernon, 
Washington for facilities improvements and renovation'' and inserting 
``the Children's Museum of Skagit County in Mount Vernon, Washington to 
purchase and renovate a building''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-447 is deemed to be amended with respect to item number 
1027 by striking ``planning and design'' and inserting ``planning, 
design, construction and buildout''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-447 is deemed to be amended with respect to item number 
946 by striking ``capital'' and inserting ``planning, design, 
engineering, and construction''.]
    [The referenced statement of the managers under this heading in 
Public Law 108-447 is deemed to be amended with respect to item number 
731 by striking ``rehabilitation and buildout'' and inserting 
``planning, evaluation, design, engineering and construction''.] 
(Department of Housing and Urban Development Appropriations Act, 2006.)
    [For an additional amount for the ``Community development fund'', 
for necessary expenses related to disaster relief, long-term recovery, 
and restoration of infrastructure in the most impacted and distressed 
areas related to the consequences of hurricanes in the Gulf of Mexico in 
2005 in States for which the President declared a major disaster under 
title IV of the Robert T. Stafford Disaster Relief and Emergency 
Assistance Act (42 U.S.C. 5121 et seq.) in conjunction with Hurricane 
Katrina, Rita, or Wilma, $11,500,000,000, to remain available until 
expended, for activities authorized under title I of the Housing and 
Community Development Act of 1974 (Public Law 93-383): Provided, That no 
State shall receive more than 54 percent of the amount provided under 
this heading: Provided further, That funds provided under this heading 
shall be administered through an entity or entities designated by the 
Governor of each State: Provided further, That such funds may not be 
used for activities reimbursable by or for which funds are made 
available by the Federal Emergency Management Agency or the Army Corps 
of Engineers: Provided further, That funds allocated under this heading 
shall not adversely affect the amount of any formula assistance received 
by a State under this heading: Provided further, That each State may use 
up to five percent of its allocation for administrative costs: Provided 
further, That Louisiana and Mississippi may each use up to $20,000,000 
(with up to $400,000 each for technical assistance) from funds made 
available under this heading for LISC and the Enterprise Foundation for 
activities authorized by section 4 of the HUD Demonstration Act of 1993 
(42 U.S.C. 9816 note), as in effect immediately before June 12, 1997, 
and for activities authorized under section 11 of the Housing 
Opportunity Program Extension Act of 1996, including demolition, site 
clearance and remediation, and program administration: Provided further, 
That in administering the funds under this heading, the Secretary of 
Housing and Urban Development shall waive, or specify alternative 
requirements for, any provision of any statute or regulation that the 
Secretary administers in connection with the obligation by the Secretary 
or the use by the recipient of these funds or guarantees (except for 
requirements related to fair housing, nondiscrimination, labor 
standards, and the environment), upon a request by the State that such 
waiver is required to facilitate the use of such funds or guarantees, 
and a finding by the Secretary that such waiver would not be 
inconsistent with the overall purpose of the statute, as modified: 
Provided further, That the Secretary may waive the requirement that 
activities benefit persons of low and moderate income, except that at 
least 50 percent of the funds made available under this heading must 
benefit primarily persons of low and moderate income unless the 
Secretary otherwise makes a finding of compelling need: Provided 
further, That the Secretary shall publish in the Federal Register any 
waiver of any statute or regulation that the Secretary administers 
pursuant to title I of the Housing and Community Development Act of 1974 
no later than 5 days before the effective date of such waiver: Provided 
further, That every waiver made by the Secretary must be reconsidered 
according to the three previous provisos on the two-year anniversary of 
the day the Secretary published the waiver in the Federal Register: 
Provided further, That prior to the obligation of funds each State shall 
submit a plan to the Secretary detailing the proposed use of all funds, 
including criteria for eligibility and how the use of these funds will 
address long-term recovery and restoration of infrastructure: Provided 
further, That each State will report quarterly to the Committees on 
Appropriations on all awards and uses of funds made available under this 
heading, including specifically identifying all awards of sole-source 
contracts and the rationale for making the award on a sole-source basis: 
Provided further, That the Secretary shall notify the Committees on 
Appropriations on any proposed allocation of any funds and any related 
waivers made pursuant to these provisions under this heading no later 
than 5 days before such waiver is made: Provided further, That the 
Secretary shall establish procedures to prevent recipients from 
receiving any duplication of benefits and report quarterly to the 
Committees on Appropriations with regard to all steps taken to prevent 
fraud and abuse of funds made available under this heading including 
duplication of benefits: Provided further, That the amounts provided 
under this heading are designated as an emergency requirement pursuant 
to section 402 of H. Con. Res. 95 (109th Congress), the concurrent 
resolution on the budget for fiscal year 2006.] (Emergency Supplemental 
Appropriations Act to Address Hurricanes in the Gulf of Mexico and 
Pandemic Influenza, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0162-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Community Development Formula 
        Grants..........................       4,227       3,594       2,769
00.02 Working Capital Fund..............           3           2
00.03 Housing Assistance Council........           3
00.04 Indian Tribes.....................          71         132          57
00.05 Special Purpose Grants............          40          43
00.06 Youthbuild........................          64          64          50
00.07 Self Help Homeownership 
        Opportunity Program.............          27          25
00.08 Capacity Building.................          69
00.09 Economic Development Initiative 
        Grants..........................         290         298
00.10 Neighborhood Initiative 
        Demonstration...................          21          39
00.11 National American Indian Housing 
        Council.........................           2
00.12 National Housing Development 
        Corporation.....................          10
00.13 National Council of La Raza.......           5           5
00.14 Disaster Assistance...............         132      11,520
00.15 Native Hawaiian Block Grants......           9           9
00.16 Special Olympics..................           2
00.17 Hudson River Park Trust Grant.....                      31
00.18 Gilman Institute Grant............           1
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................       4,976      15,762       2,876
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........       1,305       1,181       1,100
22.00 New budget authority (gross)......       4,852      15,678       2,676
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           1
22.22 Unobligated balance transferred 
        from other accounts.............           2           3
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       6,160      16,862       3,776
23.95 Total new obligations.............      -4,976     -15,762      -2,876
23.98 Unobligated balance expiring or 
        withdrawn.......................          -3
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........       1,181       1,100         900
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................       4,891      15,720       3,032
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                     -42
40.35   Appropriation permanently 
          reduced.......................         -38
40.36   Unobligated balance permanently 
          reduced.......................                                -356
41.00   Transferred to other accounts...          -1
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............       4,852      15,678       2,676
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..      10,694      10,659      19,515
73.10 Total new obligations.............       4,976      15,762       2,876
73.20 Total outlays (gross).............      -4,987      -6,906      -6,787
73.40 Adjustments in expired accounts 
        (net)...........................         -23
73.45 Recoveries of prior year 
        obligations.....................          -1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..      10,659      19,515      15,604
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................          68       2,005          54
86.93 Outlays from discretionary 
        balances........................       4,919       4,901       6,733
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........       4,987       6,906       6,787
----------------------------------------------------------------------------

[[Page 544]]



    Offsets:
      Against gross budget authority and outlays:

88.40   Offsetting collections (cash) 
          from: Non-Federal sources.....          -2
      Against gross budget authority only:

88.96   Portion of offsetting 
          collections (cash) credited to 
          expired accounts..............           2
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................       4,852      15,678       2,676
90.00 Outlays...........................       4,984       6,906       6,787
---------------------------------------------------------------------------

    To implement the goals of the Strengthening America's Communities 
Initiative (SACI), the Department of Housing and Urban Development will 
work in partnership with the Department of Commerce and other agencies 
to establish and apply a common set of performance goals and measures 
for all Federal community and economic development programs. The 
programs will focus on clear goals and expected results, designed to 
achieve stronger performance, and targeted to communities unable to meet 
their own needs.

    In HUD, this initiative proposes to consolidate and reform the 
Community Development Block Grant (CDBG) program and other set-asides 
within the Community Development Fund and Self-Help Homeownership 
Opportunity Program. The new program would be designed with a bonus fund 
component, a new allocation formula to better target funds to needs, and 
other reforms to achieve greater results and focus on communities most 
in need of assistance, as noted in the PART analysis. Legislation to 
authorize these reforms will be transmitted early in 2006.

    Some of the set-asides formerly funded under the Community 
Development Fund will continue to be funded separately. The Self-Help 
Homeownership Opportunity Program (SHOP) is proposed for funding at $40 
million as a separate program. The Native Hawaiian Housing Block Grant 
program is proposed for funding at $6 million as a separate program 
within Public and Indian Housing. The budget also proposes $29 million 
within the Research and Technology Account for University Programs that 
have been and will continue to be administered by the Office of Policy 
Development and Research. The Indian Community Development Block Grant 
program will continue to be funded in this account at $57 million.

    The 2007 Budget also proposes to transfer the Youthbuild program 
from HUD to the Department of Labor, as recommended by the White House 
Task Force on Disadvantaged Youth, to allow for greater coordination of 
the program with Job Corps and other employment and training programs. 
The 2007 Budget includes $50 million in funding for this program. 
Youthbuild provides grants to local organizations to provide education 
and training to disadvantaged youth age 16-24. In addition to 
participating in classroom training, youth learn construction skills by 
helping to build affordable housing.

                                

      Empowerment Zones/Enterprise Communities/Renewal Communities

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0315-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Develop urban sites...............          10
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................          10
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......          10
23.95 Total new obligations.............         -10
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................          10
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         171         133          88
73.10 Total new obligations.............          10
73.20 Total outlays (gross).............         -48         -45         -43
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         133          88          45
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.93 Outlays from discretionary 
        balances........................          48          45          43
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................          10
90.00 Outlays...........................          48          45          43
---------------------------------------------------------------------------

    To implement the goals of the Strengthening America's Communities 
Initiative (SACI), the Department of Housing and Urban Development will 
work in partnership with the Department of Commerce and other agencies 
to establish and apply a common set of performance goals and measures 
for all Federal community and economic development programs. In HUD, 
this initiative consolidates a number of duplicative programs into a 
reformed Community Development Block Grant program focused on clear 
goals and expected results, designed to achieve stronger performance, 
and targeted to communities unable to meet their own needs.

    The Empowerment Zone/Enterprise Communities/Renewal Communities 
initiative helps revitalize distressed neighborhoods by attracting 
business development and providing employment opportunities to residents 
of high poverty urban areas. Program principles include a strategic 
vision for change, a community based partnership, providing economic 
opportunity and sustainable community development.

    The Community Renewal and Tax Relief Act of 2000 (P.L. 106-554) 
authorized the designation of a third round of 7 urban and 2 rural 
empowerment zones and 40 competitively selected Renewal Communities 
administered by HUD.

                                

                        Brownfields Redevelopment

                    [(including rescission of funds)]

    [For competitive economic development grants, as authorized by 
section 108(q) of the Housing and Community Development Act of 1974, as 
amended, for Brownfields redevelopment projects, $10,000,000, to remain 
available until September 30, 2007: Provided, That $10,000,000 shall be 
rescinded from unobligated balances from prior years appropriations 
under this heading and, to the extent there are insufficient balances, 
any additional rescission amounts shall be rescinded from funds 
appropriated under this heading for fiscal year 2006.] (Department of 
Housing and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0314-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Cleanup and develop contaminated 
        sites...........................          25          24
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................          25          24
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          25          24
22.00 New budget authority (gross)......          24
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          49          24
23.95 Total new obligations.............         -25         -24
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          24
----------------------------------------------------------------------------

[[Page 545]]



    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................          24          10
40.36   Unobligated balance permanently 
          reduced.......................                     -10
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............          24
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         114         127         139
73.10 Total new obligations.............          25          24
73.20 Total outlays (gross).............         -12         -12         -11
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         127         139         128
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.93 Outlays from discretionary 
        balances........................          12          12          11
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................          24
90.00 Outlays...........................          12          12          11
---------------------------------------------------------------------------

    To implement the goals of the Strengthening America's Communities 
Initiative (SACI), the Department of Housing and Urban Development will 
work in partnership with the Department of Commerce and other agencies 
to establish and apply a common set of performance goals and measures 
for all Federal community and economic development programs. In HUD, 
this initiative consolidates a number of duplicative programs into a 
reformed Community Development Block Grant program focused on clear 
goals and expected results, designed to achieve stronger performance, 
and targeted to communities unable to meet their own needs.

    The Brownfields Economic Development Initiative (BEDI) is a 
competitive grant program to stimulate and promote economic and 
community development. Brownfields are abandoned, idled, and underused 
industrial and commercial facilities and land where expansion and 
redevelopment is burdened by real or potential environmental 
contamination.

    Grants are made in accordance with section 108(q) selection criteria 
and such other criteria deemed appropriate for brownfield projects, 
including the extent to which an applicant is currently operating a 
brownfields program and is working with appropriate environmental 
regulatory agencies.

                                

                           Youthbuild Program

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0219-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..           1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................
---------------------------------------------------------------------------

    Youthbuild is a program targeted to 16- to 24-year old high school 
dropouts and provides disadvantaged young adults with education and 
employment skills through rehabilitating and constructing housing for 
low-income and homeless people.

    The Youthbuild program has been funded as a set-aside within the 
CDBG program since 1996. The 2007 Budget proposes to fund the Youthbuild 
program within the U.S. Department of Labor to allow for greater 
coordination with other employment and training programs. The obligated 
balance and outlays represent activity in the separate Youthbuild 
account.

                                

                  HOME Investment Partnerships Program

                      (including transfer of funds)

    For the HOME investment partnerships program, as authorized under 
title II of the Cranston-Gonzalez National Affordable Housing Act, as 
amended, [$1,750,000,000] $1,816,640,000, to remain available until 
September 30, [2008] 2009: Provided, That of the total amount provided 
in this paragraph, [up to $42,000,000 shall be available for housing 
counseling under section 106 of the Housing and Urban Development Act of 
1968, and $1,000,000] $3,465,000 shall be transferred to the Working 
Capital Fund: Provided further, That up to $9,900,000 shall be available 
for technical assistance.
    In addition to amounts otherwise made available under this heading, 
[$25,000,000] $100,000,000, to remain available until September 30, 
[2008] 2009, for assistance to homebuyers as authorized under title I of 
the American Dream Downpayment Act. (Department of Housing and Urban 
Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0205-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 HOME grants.......................       2,035       1,893       1,917
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................       2,035       1,893       1,917
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........         447         318         182
22.00 New budget authority (gross)......       1,900       1,757       1,917
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           6
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       2,353       2,075       2,099
23.95 Total new obligations.............      -2,035      -1,893      -1,917
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........         318         182         182
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................       1,915       1,775       1,917
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                     -18
40.35   Appropriation permanently 
          reduced.......................         -15
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............       1,900       1,757       1,917
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..       5,247       5,557       5,676
73.10 Total new obligations.............       2,035       1,893       1,917
73.20 Total outlays (gross).............      -1,718      -1,774      -1,822
73.40 Adjustments in expired accounts 
        (net)...........................          -1
73.45 Recoveries of prior year 
        obligations.....................          -6
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..       5,557       5,676       5,771
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................          13          35          38
86.93 Outlays from discretionary 
        balances........................       1,705       1,739       1,784
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........       1,718       1,774       1,822
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................       1,900       1,757       1,917
90.00 Outlays...........................       1,718       1,774       1,822
---------------------------------------------------------------------------

    The HOME Investment Partnerships Program is authorized by the 
National Affordable Housing Act (P.L. 101-625). This program provides 
assistance to States and units of local government, through formula 
allocation, expanding the supply and affordability of housing. Eligible 
activities include acquisition, rehabilitation, and new construction of 
housing and tenant-based rental assistance.

    In its PART assessment, the HOME program received a Moderately 
Effective rating, based upon the fact that the program has a potentially 
significant impact on affordable housing problems, has made progress 
towards its annual performance goals, and demonstrates improved 
efficiency over time. The 2007 request supports the PART analysis and 
will result in the production of 83,750 units of affordable housing 
through new construction, rehabilitation, and/or acquisition.

[[Page 546]]

In addition, tenant-based rental assistance will be provided for 12,080 
units.

    The $100 million American Dream Downpayment Initiative will help 
expand homeownership opportunities to 13,000 low-income first-time 
homebuyers and also support expansion of minority homeownership.

                                

        Self-Help and Assisted Homeownership Opportunity Program

    For the Self-Help and Assisted Homeownership Opportunity Program, as 
authorized under Section 11 of the Housing Opportunity Program Extension 
Act of 1996, as amended, [$61,000,000] $39,700,000, to remain available 
until September 30, [2008: Provided, That of the total amount provided 
in this heading $20,000,000 shall be made available to the Self Help 
Homeownership Opportunity Program as authorized under section 11 of the 
Housing Opportunity Program Extension Act of 1996, as amended: Provided 
further, That $30,000,000 shall be made available for capacity building, 
of which $26,500,000 shall be for capacity building for Community 
Development and affordable Housing for LISC and the Enterprise 
Foundation for activities authorized by section 4 of the HUD 
Demonstration Act of 1993 (42 U.S.C. 9816 note), as in effect 
immediately before June 12, 1997, and $3,500,000 shall be made available 
for capacity building activities administered by Habitat for Humanity 
International: Provided further, That $3,000,000 shall be made available 
to the Housing Assistance Council; $1,000,000 shall be made available to 
the National American Indian Housing Council; $4,000,000 shall be 
available as a grant to the Raza Development Fund of La Raza for the 
HOPE Fund, of which $500,000 is for technical assistance and fund 
management, and $3,500,000 is for investments in the HOPE Fund and 
financing to affiliated organizations; $2,000,000 shall be available as 
a grant to the National Housing Development Corporation for operating 
expenses and a program of affordable housing acquisition and 
rehabilitation; and $1,000,000 shall be made available to the Special 
Olympics National Organizing Committee for planning, equipment and 
operational expenses associated with the 2006 games in Ames, Iowa] 2009: 
Provided, That up to $990,000 shall be made available for technical 
assistance. (Department of Housing and Urban Development Appropriations 
Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0176-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Self Help Housing Opportunity 
        Program.........................                      20          40
00.02 Capacity Building.................                      29
00.03 National American Indian Housing 
        Council.........................                       1
00.04 Housing Assistance Council........                       3
00.05 Special Olympics..................                       1
00.06 National Council of La Raza.......                       4
00.07 National Housing Development 
        Corporation.....................                       2
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................                      60          40
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......                      60          40
23.95 Total new obligations.............                     -60         -40
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................                      61          40
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -1
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............                      60          40
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..                                  59
73.10 Total new obligations.............                      60          40
73.20 Total outlays (gross).............                      -1         -20
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..                      59          79
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................                       1           1
86.93 Outlays from discretionary 
        balances........................                                  19
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........                       1          20
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................                      60          40
90.00 Outlays...........................                       1          20
---------------------------------------------------------------------------

    Self-Help Homeownership Opportunity Program (SHOP) funds assist low-
income homebuyers willing to contribute ``sweat equity'' toward the 
construction of their houses. The funds will increase nonprofit 
organizations' ability to leverage funds from other sources and produce 
at least 2,000 new homeownership units.

    In 2006, SHOP became a separate account. SHOP was previously funded 
as a set-aside within the Community Development Fund. Funding of $40 
million is provided for acquisition and preparation of land to assist 
the efforts for national and regional consortia. Of that amount, 
$990,000 will be used for technical assistance.

                                

                       Homeless Assistance Grants

                      (including transfer of funds)

    For the emergency shelter grants program as authorized under 
subtitle B of title IV of the McKinney-Vento Homeless Assistance Act, as 
amended; the supportive housing program as authorized under subtitle C 
of title IV of such Act; the section 8 moderate rehabilitation single 
room occupancy program as authorized under the United States Housing Act 
of 1937, as amended, to assist homeless individuals pursuant to section 
441 of the McKinney-Vento Homeless Assistance Act; and the shelter plus 
care program as authorized under subtitle F of title IV of such Act, 
[$1,340,000,000] $1,511,240,000, of which [$1,320,000,000] 
$1,491,240,000 shall remain available until September 30, [2008] 2009, 
and of which $20,000,000 shall remain available until expended: 
Provided, That not less than 30 percent of funds made available, 
excluding amounts provided for renewals under the shelter plus care 
program, shall be used for permanent housing: Provided further, That all 
funds awarded for services shall be matched by 25 percent in funding by 
each grantee: Provided further, That the Secretary shall renew on an 
annual basis expiring contracts or amendments to contracts funded under 
the shelter plus care program if the program is determined to be needed 
under the applicable continuum of care and meets appropriate program 
requirements and financial standards, as determined by the Secretary: 
Provided further, That all awards of assistance under this heading shall 
be required to coordinate and integrate homeless programs with other 
mainstream health, social services, and employment programs for which 
homeless populations may be eligible, including Medicaid, State 
Children's Health Insurance Program, Temporary Assistance for Needy 
Families, Food Stamps, and services funding through the Mental Health 
and Substance Abuse Block Grant, Workforce Investment Act, and the 
Welfare-to-Work grant program: Provided further, That up to 
[$11,674,000] $10,395,000 of the funds appropriated under this heading 
shall be available for the national homeless data analysis project and 
technical assistance: Provided further, That [$1,000,000] $2,475,000 of 
the funds appropriated under this heading shall be transferred to the 
Working Capital Fund: Provided further, That all balances for Shelter 
Plus Care renewals previously funded from the Shelter Plus Care Renewal 
account and transferred to this account shall be available, if 
recaptured, for Shelter Plus Care renewals in fiscal year [2006] 2007. 
In addition, $24,750,000 is provided for fiscal year 2007, to be 
transferred to ``Training and Employment Services.'' Employment and 
Training Administration, Department of Labor, shall be for the Prisoner 
Re-Entry Initiative as established under that heading. (Department of 
Housing and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0192-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Homeless assistance grants........       1,427       1,502       1,637
                                           ---------   ---------  ----------

[[Page 547]]


10.00   Total new obligations (object 
          class 41.0)...................       1,427       1,502       1,637
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........       1,697       1,573       1,448
22.00 New budget authority (gross)......       1,230       1,327       1,536
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................          91          50          50
22.22 Unobligated balance transferred 
        from other accounts.............          11
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       3,029       2,950       3,034
23.95 Total new obligations.............      -1,427      -1,502      -1,637
23.98 Unobligated balance expiring or 
        withdrawn.......................         -29
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........       1,573       1,448       1,397
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................       1,251       1,340       1,536
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                     -13
40.35   Appropriation permanently 
          reduced.......................         -10
40.36   Unobligated balance permanently 
          reduced.......................         -11
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............       1,230       1,327       1,536
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..       2,460       2,516       2,636
73.10 Total new obligations.............       1,427       1,502       1,637
73.20 Total outlays (gross).............      -1,282      -1,332      -1,387
73.32 Obligated balance transferred from 
        other accounts..................          14
73.40 Adjustments in expired accounts 
        (net)...........................         -12
73.45 Recoveries of prior year 
        obligations.....................         -91         -50         -50
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..       2,516       2,636       2,836
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................           8          13          23
86.93 Outlays from discretionary 
        balances........................       1,274       1,319       1,364
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........       1,282       1,332       1,387
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................       1,230       1,327       1,536
90.00 Outlays...........................       1,282       1,332       1,387
---------------------------------------------------------------------------

    The Homeless Assistance Grants account funds the Shelter Plus Care, 
Supportive Housing, Emergency Shelter Grants, and Section 8 Moderate 
Rehabilitation Single Room Occupancy programs. These funds enable 
localities to shape and implement comprehensive, flexible, coordinated 
approaches to address the multiple issues of homelessness. Many 
communities have made great strides in creating comprehensive approaches 
to ending chronic homelessness through the development of State 
Interagency Councils and local ten-year plans. Requested funding will be 
available for a wide range of activities to assist homeless persons and 
prevent future homelessness, and will support the Department's effort to 
end chronic homelessness. A major emphasis will be placed on permanent 
housing by requiring 30 percent of funds to be used for permanent 
housing.

    The Administration proposed legislation to combine HUD's three 
competitive programs--Shelter Plus Care, Supportive Housing, and Section 
8 Moderate Rehabilitation Single Room Occupancy--into a single program 
with enough flexibility to better meet community needs. The Department 
continues to pursue expanded interagency efforts to meet the needs of 
the homeless and to accomplish the Administration's goal of ending 
chronic homelessness. The new consolidated program will incorporate up 
to $200 million for the Samaritan Housing Initiative which will 
specifically address the supportive housing needs of chronically 
homeless individuals.

    Funding is also requested for technical assistance to provide among 
other services, needed assistance to grantees to resolve problems that 
hinder successful project completion and implementation, and for 
homeless management information systems (HMIS) support, including the 
continuing operation of tracking systems required by House Report 105-
610.

    Funding of $24.75 million is included for a four year Prisoner Re-
Entry Initiative, involving the Departments of Justice, Labor, and 
Housing and Urban Development, to help individuals exiting prison make a 
successful transition to community life and long-term employment. Upon 
enactment, these funds will be transferred to the Department of Labor.

                                

                 Rural Housing and Economic Development

    [For the Office of Rural Housing and Economic Development in the 
Department of Housing and Urban Development, $17,000,000, to remain 
available until expended, which amount shall be competitively awarded by 
September 1, 2006, to Indian tribes, State housing finance agencies, 
State community and/or economic development agencies, local rural 
nonprofits and community development corporations to support innovative 
housing and economic development activities in rural areas.] (Department 
of Housing and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0324-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Rural Housing.....................          25          44
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................          25          44
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          27          27
22.00 New budget authority (gross)......          24          17
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           1
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          52          44
23.95 Total new obligations.............         -25         -44
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          27
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................          24          17
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          40          40          61
73.10 Total new obligations.............          25          44
73.20 Total outlays (gross).............         -24         -23         -22
73.45 Recoveries of prior year 
        obligations.....................          -1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          40          61          39
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.93 Outlays from discretionary 
        balances........................          24          23          22
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................          24          17
90.00 Outlays...........................          24          23          22
---------------------------------------------------------------------------

    To implement the goals of the Strengthening America's Communities 
Initiative (SACI), the Department of Housing and Urban Development will 
work in partnership with the Department of Commerce and other agencies 
to establish and apply a common set of performance goals and measures 
for all Federal community and economic development programs. In HUD, 
this initiative consolidates a number of duplicative programs into a 
reformed Community Development Block Grant program focused on clear 
goals and expected results, designed to achieve stronger performance, 
and targeted to communities unable to meet their own needs.

    The RHED program was legislated to encourage new and innovative 
approaches to serve the housing and economic development needs of the 
nation's rural communities. Additionally, the U.S. Department of 
Agriculture manages a portfolio of rural housing and economic 
development grants programs that vastly exceed HUD's RHED program in 
terms of programs and services from budget to staffing.

[[Page 548]]

                                

                     Urban Development Action Grants

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0170-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           7           5           2
22.21 Unobligated balance transferred to 
        other accounts..................          -2          -3
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......           5           2           2
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           5           2           2
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..           6           4           2
73.20 Total outlays (gross).............          -2          -2          -2
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..           4           2
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.93 Outlays from discretionary 
        balances........................           2           2           2
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................           2           2           2
---------------------------------------------------------------------------

    Title I of the Housing and Community Development Act of 1974, as 
amended, authorized grants to distressed cities and distressed urban 
counties to fund economic development projects. The program was 
terminated in 1990.

                                

                       Shelter Plus Care Renewals

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0232-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          11
22.21 Unobligated balance transferred to 
        other accounts..................         -11
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          14
73.31 Obligated balance transferred to 
        other accounts..................         -14
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................
---------------------------------------------------------------------------

    The 2005 Appropriations Act transferred all remaining balances in 
this account to the Homeless Assistance Grant account where Shelter Plus 
Care renewals have been funded since 2003. Shelter Plus Care provides 
rental assistance that, when combined with social services, supplies 
supportive housing for homeless people with disabilities and their 
families. Homeless people with disabilities often need more than shelter 
to live independently, such as medical care or other social services. 
Shelter Plus Care provides for a variety of housing choices such as 
group homes or individual units, coupled with a range of supportive 
services (which are funded by other sources). Grantees must match the 
rental assistance with supportive services that are at least equal in 
value to the amount of HUD's rental assistance. The Shelter Plus Care 
renewal funding renews contracts on a one-year basis and provides 
funding to amend contracts that were previously extended but which will 
run out of funding.

                                

Public enterprise funds:

                  Revolving Fund (Liquidating Programs)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4015-0-3-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Section 312 expenses..............                       1           1
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 32.0)...................                       1           1
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          13           1
22.00 New budget authority (gross)......           1           2           2
22.40 Capital transfer to general fund..         -13          -2          -1
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......           1           1           1
23.95 Total new obligations.............                      -1          -1
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           1
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Mandatory:

60.00   Appropriation...................           1           1           1
      Mandatory:

69.00   Spending authority from 
          offsetting collections: 
          Offsetting collections (cash).                       1           1
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................           1           2           2
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..           2           2
73.10 Total new obligations.............                       1           1
73.20 Total outlays (gross).............                      -3          -3
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..           2                      -2
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.97 Outlays from new mandatory 
        authority.......................                       2           2
86.98 Outlays from mandatory balances...                       1           1
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........                       3           3
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

88.40   Offsetting collections (cash) 
          from: Non-Federal sources.....                      -1          -1
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................           1           1           1
90.00 Outlays...........................                       2           2
---------------------------------------------------------------------------

               Status of Direct Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4015-0-3-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of direct loans 
                outstanding:
1210  Outstanding, start of year........           6           6           4
1251  Repayments: Repayments and 
        prepayments.....................                      -1          -1
1263  Write-offs for default: Direct 
        loans...........................                      -1          -1
                                           ---------   ---------  ----------
1290    Outstanding, end of year........           6           4           2
---------------------------------------------------------------------------

    The Revolving Fund (liquidating programs) was established by the 
Independent Offices Appropriations Act of 1955 for the efficient 
liquidation of assets acquired under a number of housing and urban 
development programs. 

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4015-0-3-451

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
1101

Federal assets: Fund balances with Treasury

15

3

      Net value of assets related to 
          pre-1992 direct loans 
          receivable and acquired 
          defaulted guaranteed loans 
          receivable:

1601

Direct loans, gross

6

6

1603

Allowance for estimated uncollectible loans and interest (-)

-6

-6





1604

Direct loans and interest receivable, net





[[Page 549]]

1606

Foreclosed property

2

2





1699

Value of assets related to direct loans

2

2





1999

Total assets

17

5

    LIABILITIES:
2207

Non-Federal liabilities: Other

1

1





2999

Total liabilities

1

1

    NET POSITION:
3100

Appropriated capital

3

4

3300

Cumulative results of operations

13







3999

Total net position

16

4





4999

Total liabilities and net position

17

5

-----------------------------------------------------------------------------------------------

                                

Credit accounts:

          Community Development Loan Guarantees Program Account

                     [(including transfer of funds)]

    [For the cost of guaranteed loans, $3,000,000, to remain available 
until September 30, 2007, as authorized by section 108 of the Housing 
and Community Development Act of 1974, as amended: Provided, That such 
costs, including the cost of modifying such loans, shall be as defined 
in section 502 of the Congressional Budget Act of 1974, as amended: 
Provided further, That these funds are available to subsidize total loan 
principal, any part of which is to be guaranteed, not to exceed 
$137,500,000, notwithstanding any aggregate limitation on outstanding 
obligations guaranteed in section 108(k) of the Housing and Community 
Development Act of 1974, as amended.]
    [In addition, for administrative expenses to carry out the 
guaranteed loan program, $750,000 shall be transferred to and merged 
with the appropriation for ``Salaries and expenses''.] (Department of 
Housing and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0198-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.02 Community development loan 
        guarantee credit subsidy........           8           6
00.07 Upward Reestimate of Loan 
        Guarantee.......................           2           2
00.08 Interest on reestimate............                       1
00.09 Administrative expense............           1           1
                                           ---------   ---------  ----------
10.00   Total new obligations...........          11          10
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           5           3
22.00 New budget authority (gross)......           9           7
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          14          10
23.95 Total new obligations.............         -11         -10
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           3
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................           7           4
      Mandatory:

60.00   Appropriation...................           2           3
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................           9           7
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          15          17          19
73.10 Total new obligations.............          11          10
73.20 Total outlays (gross).............          -6          -8          -5
73.40 Adjustments in expired accounts 
        (net)...........................          -3
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          17          19          14
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................           2           1
86.93 Outlays from discretionary 
        balances........................           2           4           5
86.97 Outlays from new mandatory 
        authority.......................           2           3
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........           6           8           5
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................           9           7
90.00 Outlays...........................           6           8           5
---------------------------------------------------------------------------

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in 
                            millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0198-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Guaranteed loan levels supportable by subsidy 
                budget authority:
215001Community development loan 
        guarantee levels................         337         276
                                           ---------   ---------  ----------
215901Total loan guarantee levels.......         337         276
    Guaranteed loan subsidy (in percent):
232001Community development loan 
        guarantee levels................        2.30        2.20        0.00
                                           ---------   ---------  ----------
232901Weighted average subsidy rate.....        2.30        2.20        0.00
    Guaranteed loan subsidy budget authority:
233001Community development loan 
        guarantee levels................           8           6
                                           ---------   ---------  ----------
233901Total subsidy budget authority....           8           6
    Guaranteed loan subsidy outlays:
234001Community development loan 
        guarantee levels................           3           4           5
                                           ---------   ---------  ----------
234901Total subsidy outlays.............           3           4           5
    Guaranteed loan upward reestimate subsidy 
                budget authority:
235001Community development loan 
        guarantee levels................           2           3
                                           ---------   ---------  ----------
235901Total upward reestimate budget 
        authority.......................           2           3
    Guaranteed loan downward reestimate subsidy 
                budget authority:
237001Community development loan 
        guarantee levels................         -15          -6
                                           ---------   ---------  ----------
237901Total downward reestimate subsidy 
        budget authority................         -15          -6
----------------------------------------------------------------------------

    Administrative expense data:
351001Budget authority..................           1           1
359001Outlays from new authority........           1           1
---------------------------------------------------------------------------

    Guaranteed Loans.--The 2007 Budget requests no new funding for the 
Community Development Loan Guarantee program (Section 108). As part of a 
broader government-wide community and economic development reform 
effort, the program is proposed to be consolidated into a reformed 
Community Development Block Grant program designed to achieve greater 
results and target the most distressed communities.

    Section 108 loan guarantees have been used by Community Development 
Block Grant entitlement and nonentitlement communities (assisted by 
their State) for economic development activities, acquisition of real 
property, rehabilitation of publicly owned real property, and housing 
rehabilitation.

    As required by the Federal Credit Reform Act of 1990, this account 
records the subsidy costs associated with the loan guarantees committed 
since 1992 (including modifications of direct loans or loan guarantees 
that resulted from obligations or commitments in any year), as well as 
administrative expenses for this program. The subsidy amounts are 
estimated on a present value basis; the administrative expenses are 
estimated on a cash basis. No new loan activity is proposed for 2007.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0198-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
12.1  Civilian personnel benefits.......           1           1
33.0  Investments and loans.............          10           9
                                           ---------   ---------  ----------
99.9    Total new obligations...........          11          10
---------------------------------------------------------------------------

                                

         Community Development Loan Guarantees Financing Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4096-0-3-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
08.02 Payment of Downward Reestimate to 
        Receipt Account.................          12           5

[[Page 550]]

08.04 Payment of Downward Reestimate to 
        Receipt Account (Interest)......           3           1
                                           ---------   ---------  ----------
10.00   Total new obligations...........          15           6
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          90          86          87
22.00 New financing authority (gross)...          11           7           9
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......         101          93          96
23.95 Total new obligations.............         -15          -6
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          86          87          96
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Spending authority from offsetting 
          collections:

        Discretionary:
68.00     Offsetting collections (cash).           7           4           9
68.10     Change in uncollected customer 
            payments from Federal 
            sources (unexpired).........           2
                                           ---------   ---------  ----------
68.90       Spending authority from 
              offsetting collections 
              (total discretionary).....           9           4           9
        Mandatory:
69.00     Offsetting collections (cash).           2           3
                                           ---------   ---------  ----------
70.00   Total new financing authority 
          (gross).......................          11           7           9
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         -15         -17         -17
73.10 Total new obligations.............          15           6
73.20 Total financing disbursements 
        (gross).........................         -15          -6
74.00 Change in uncollected customer 
        payments from Federal sources 
        (unexpired).....................          -2
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         -17         -17         -17
87.00 Total financing disbursements 
        (gross).........................          15           6
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

        Offsetting collections (cash) 
            from:
88.00     Federal Sources: Payments from 
            Program Account.............          -4          -7          -5
88.00     Federal sources: Upward 
            reestimate (Interest).......
88.00     Federal sources...............          -1
88.25     Interest on uninvested funds..          -4          -4          -4
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........          -9         -11          -9
      Against gross financing authority only:

88.95   Change in receivables from 
          program accounts..............          -2
88.96   Portion of offsetting 
          collections (cash) credited to 
          expired accounts..............                       4
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............
90.00 Financing disbursements...........           5          -5          -9
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4096-0-3-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on commitments:
2111  Limitation on guaranteed loans 
        made by private lenders.........         275         138
2121  Limitation available from carry-
        forward.........................         223         159
2142  Uncommitted loan guarantee 
        limitation......................          -2         -21
2143  Uncommitted limitation carried 
        forward.........................        -159
                                           ---------   ---------  ----------
2150    Total guaranteed loan 
          commitments...................         337         276
2199  Guaranteed amount of guaranteed 
        loan commitments................         337         276
----------------------------------------------------------------------------

    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........       2,301       2,302       2,175
2231  Disbursements of new guaranteed 
        loans...........................         168         173         261
2251  Repayments and prepayments........        -167        -300        -350
                                           ---------   ---------  ----------
2290    Outstanding, end of year........       2,302       2,175       2,086
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..       2,302       2,175       2,086
---------------------------------------------------------------------------

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4096-0-3-451

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
1101

Federal assets: Fund balances with Treasury

75

70





1999

Total assets

75

70

    LIABILITIES:
2204

Non-Federal liabilities: Liabilities for loan guarantees

75

70





2999

Total liabilities

75

70





4999

Total liabilities and net position

75

70

-----------------------------------------------------------------------------------------------

    Guaranteed loans.--The Community Development Loan Guarantees program 
has provided a mechanism for the Federal guarantee of private loans. An 
accompanying liquidating account shows activity for Federal Financing 
Bank (FFB) direct loan activity, obligated prior to July 1, 1986. The 
following is a status of privately financed guaranteed loan commitments 
made prior to 1992. No funding is requested for new section 108 loans in 
2007.

    As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the Government 
resulting from loan guarantees committed in 1992 and beyond (including 
modifications of loan guaran- tees that resulted from commitments in any 
year). The amounts in this account are a means of financing and are not 
included in the budget totals. As required by the Federal Credit Reform 
Act of 1990, no administrative expenses can be recorded in the financing 
account.

                                

        Community Development Loan Guarantees Liquidating Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4097-0-3-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          -5          -5          -5
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          -5          -5          -5
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4097-0-3-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........          39          39          37
2251  Repayments and prepayments........                      -2          -2
                                           ---------   ---------  ----------
2290    Outstanding, end of year........          39          37          35
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..          39          37          35
---------------------------------------------------------------------------

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4097-0-3-451

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
      Federal assets:

1101

Fund balances with Treasury

-5

-4

        Investments in US securities:
1106

Receivables, net

5

4





[[Page 551]]

1999

Total assets





-----------------------------------------------------------------------------------------------

    No funding is requested for new Section 108 loans in 2007.

    Guaranteed loans.--Guaranteed loan assistance under the Community 
Development Loan Guarantees program was provided to eligible communities 
to finance economic development activities, housing rehabilitation, 
development or expansion of public facilities, acquisition of real 
property, rehabilitation of publicly owned real property, and certain 
related expenses. In the past, the FFB financed these guaranteed loans. 
The Consolidated Omnibus Budget Reconciliation Act of 1985 required 
private financing of all loan guarantees committed after July 1, 1986. 
FFB will continue disbursing loans for commitments approved prior to 
July 1, 1986. The activity shown in the above account reflects privately 
financed guaranteed loans for which commitments were made prior to 1992.

    As required by the Federal Credit Reform Act of 1990, this account 
records all cash flows to and from the Government resulting from Federal 
Financing Bank (FFB) direct loans for which loan guarantees were 
committed prior to 1992. This account is shown on a cash basis.

                                


 
                            HOUSING PROGRAMS

                              Federal Funds

General and special funds:

                         Housing for the Elderly

                      (including transfer of funds)

    For capital advances, including amendments to capital advance 
contracts, for housing for the elderly, as authorized by section 202 of 
the Housing Act of 1959, as amended, and for project rental assistance 
for the elderly under section 202(c)(2) of such Act, including 
amendments to contracts for such assistance and renewal of expiring 
contracts for such assistance for up to a 1-year term, and for 
supportive services associated with the housing, [$742,000,000] 
$545,490,000, to remain available until September 30, [2009] 2010, of 
which amount up to $443,520,000 shall be for capital advance and 
project-based rental assistance awards, of which amount [$51,600,000] up 
to $59,400,000 shall be for service coordinators and the continuation of 
existing congregate service grants for residents of assisted housing 
projects, and of which amount up to [$24,800,000] $24,750,000 shall be 
for grants under section 202b of the Housing Act of 1959 (12 U.S.C. 
1701q-2) for conversion of eligible projects under such section to 
assisted living or related use and for emergency capital repairs as 
determined by the Secretary: Provided, [That of the amount made 
available under this heading, $4,000,000 shall be made available to 
carry out section 203 of Public Law 108-186: Provided further, That of 
the amount made available under this heading, $20,000,000 shall be 
available to the Secretary of Housing and Urban Development only for 
making competitive grants to private nonprofit organizations and 
consumer cooperatives for covering costs of architectural and 
engineering work, site control, and other planning relating to the 
development of supportive housing for the elderly that is eligible for 
assistance under section 202 of the Housing Act of 1959 (12 U.S.C. 
1701q): Provided further,] That amounts under this heading shall be 
available for Real Estate Assessment Center inspections and inspection-
related activities associated with section 202 capital advance projects: 
Provided further, That [$400,000] $1,980,000 of the total amount made 
available under this heading shall be transferred to the Working Capital 
Fund: Provided further, That the Secretary may waive the provisions of 
section 202 governing the terms and conditions of project rental 
assistance, except that the initial contract term for such assistance 
shall not exceed 5 years in duration. (Department of Housing and Urban 
Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0320-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Elderly and disabled housing 
        grants..........................       1,009         742         546
                                           ---------   ---------  ----------
10.00   Total new obligations...........       1,009         742         546
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........       1,392       1,009       1,002
22.00 New budget authority (gross)......         742         735         546
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................          11
22.21 Unobligated balance transferred to 
        other accounts..................        -126
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       2,019       1,744       1,548
23.95 Total new obligations.............      -1,009        -742        -546
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........       1,009       1,002       1,002
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................         747         742         546
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -7
40.35   Appropriation permanently 
          reduced.......................          -6
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............         741         735         546
      Discretionary:

68.00   Spending authority from 
          offsetting collections: 
          Offsetting collections (cash).           1
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................         742         735         546
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..       5,367       4,266       4,133
73.10 Total new obligations.............       1,009         742         546
73.20 Total outlays (gross).............        -903        -875        -875
73.31 Obligated balance transferred to 
        other accounts..................      -1,190
73.40 Adjustments in expired accounts 
        (net)...........................          -4
73.45 Recoveries of prior year 
        obligations.....................         -11
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..       4,266       4,133       3,804
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................           1
86.93 Outlays from discretionary 
        balances........................         902         875         875
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........         903         875         875
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

88.40   Offsetting collections (cash) 
          from: Non-Federal sources.....          -1
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         741         735         546
90.00 Outlays...........................         903         875         875
---------------------------------------------------------------------------

    This account consolidates funds activity under the Section 202 
Housing for the Elderly Program. It funds capital grants for 
construction of low-income housing, operating subsidies, conversion of 
existing properties to assisted living, and Service coordinators.

    The 2007 Budget expands this program. About 2,700 new units of 
housing will be constructed. All housing previously supported will 
continue to receive operating subsidies. In addition, congregate 
services and other supportive social services for residents, such as 
benefit counseling, are increased to $59 million. Upgrades of 
developments to assisted living facilities are funded at $25 million.

                         HOUSING FOR THE ELDERLY

                                     2005 actual  2006 est.   2007 est.
Units eligible for payment....         82,359         88,418          94,351

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0320-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
41.0  Direct obligations: Grants, 
        subsidies, and contributions....       1,009         741         546
99.0  Reimbursable obligations: 
        Reimbursable obligations........                       1
                                           ---------   ---------  ----------
99.9    Total new obligations...........       1,009         742         546
---------------------------------------------------------------------------

[[Page 552]]



                                

                  Housing for Persons With Disabilities

                      (including transfer of funds)

    For capital advance contracts, including amendments to capital 
advance contracts, for supportive housing for persons with disabilities, 
as authorized by section 811 of the Cranston-Gonzalez National 
Affordable Housing Act, for project rental assistance for supportive 
housing for persons with disabilities under section 811(d)(2) of such 
Act, including amendments to contracts for such assistance and renewal 
of expiring contracts for such assistance for up to a 1-year term, and 
for supportive services associated with the housing for persons with 
disabilities as authorized by section 811(b)(1) of such Act, and for 
tenant-based rental assistance contracts entered into pursuant to 
section 811 of such Act, [$239,000,000] $118,800,000, to remain 
available until September 30, [2009] 2010: Provided, That [$400,000] 
$990,000 shall be transferred to the Working Capital Fund: Provided 
further, That up to $30,690,000 shall be for expansion of existing 
levels of housing assistance, including up to $14,850,000 for 
incremental tenant-based rental assistance (which assistance is 5 years 
in duration) and up to $15,840,000 for new capital advance project 
rental assistance contracts: Provided further, That, of the amount 
provided under this heading [$78,300,000] up to $74,745,000 shall be for 
amendments or renewal of tenant-based assistance contracts [entered into 
prior to fiscal year 2005 (only one amendment authorized for any such 
contract): Provided further, That of the amount provided under this 
heading, the Secretary may make available up to $5,000,000 for 
incremental tenant-based rental assistance, as authorized by section 811 
of such Act (which assistance is 5 years in duration)]: Provided 
further, That all tenant-based assistance made available under this 
heading shall continue to remain available only to persons with 
disabilities: Provided further, That the Secretary may waive the 
provisions of section 811 governing the terms and conditions of project 
rental assistance and tenant-based assistance, except that the initial 
contract term for such assistance shall not exceed 5 years in duration: 
Provided further, That amounts made available under this heading shall 
be available for Real Estate Assessment Center Inspections and 
inspection-related activities associated with section 811 Capital 
Advance Projects. (Department of Housing and Urban Development 
Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0237-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Housing for the Disabled..........         296         239         119
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................         296         239         119
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........         202         276         274
22.00 New budget authority (gross)......         238         237         119
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           5
22.22 Unobligated balance transferred 
        from other accounts.............         126
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......         571         513         393
23.95 Total new obligations.............        -296        -239        -119
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........         276         274         274
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................         478         239         119
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -2
40.35   Appropriation permanently 
          reduced.......................        -240
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............         238         237         119
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          45       1,215       1,196
73.10 Total new obligations.............         296         239         119
73.20 Total outlays (gross).............        -307        -258        -260
73.32 Obligated balance transferred from 
        other accounts..................       1,190
73.40 Adjustments in expired accounts 
        (net)...........................          -4
73.45 Recoveries of prior year 
        obligations.....................          -5
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..       1,215       1,196       1,055
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.93 Outlays from discretionary 
        balances........................         307         258         260
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         238         237         119
90.00 Outlays...........................         307         258         260
---------------------------------------------------------------------------

    This account consolidates all activities funded under section 811, 
Housing for Persons With Disabilities program, including new capital 
grants, project rental assistance, main stream vouchers, and renewal and 
amendments as appropropriate.

                  HOUSING FOR PERSONS WITH DISABILITIES

                                     2005 actual  2006 est.   2007 est.
Units eligible for payment....         23,243         24,759          26,180

                                

                      Housing Counseling Assistance

    For contracts, grants, and other assistance other than loans, as 
authorized under section 106 of the Housing and Urban Development Act of 
1968, as amended, $44,550,000, to remain available until September 30, 
2008: Provided, That funds shall be used for providing counseling and 
advice to tenants and homeowners, both current and prospective, with 
respect to property maintenance, financial management, and such other 
matters as may be appropriate to assist them in improving their housing 
conditions and meeting the responsibilities of tenancy or homeownership, 
including provisions for training and for support of voluntary agencies 
and services.

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0156-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Housing Assistance................                                   5
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................                                   5
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......                                  45
23.95 Total new obligations.............                                  -5
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........                                  40
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................                                  45
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                                   5
73.20 Total outlays (gross).............                                  -5
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................                                   5
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................                                  45
90.00 Outlays...........................                                   5
---------------------------------------------------------------------------

    The Housing Counseling Assistance Program provides comprehensive 
housing counseling services to eligible homeowners and tenants, 
including home purchase, financial management, and rental counseling. 
This program has been funded through a set-aside under the HOME program 
appropriation for the past several years. However, in 2007, it is being 
proposed as a stand alone account.

    The Housing Counseling Assistance Program supports the delivery of a 
wide variety of housing counseling services to homebuyers, homeowners, 
low- to moderate-income renters and the homeless. The primary objectives 
of the program are to expand homeownership opportunities, improve access 
to affordable housing and aid in HUD's commitment to bridging the gap of 
homeownership of minorities and other under-served groups in comparison 
to the National homeownership rate.

[[Page 553]]

                                

                     Other Assisted Housing Programs

                        Rental Housing Assistance

    For amendments to contracts under section 101 of the Housing and 
Urban Development Act of 1965 (12 U.S.C. 1701s) and section 236(f)(2) of 
the National Housing Act (12 U.S.C. 1715z-1) in State-aided, non-insured 
rental housing projects, [$26,400,000] $24,750,000, to remain available 
until expended[: Provided, That amendments to such contracts hereafter 
may be for a period less than the term of the respective contracts]. 
(Department of Housing and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0206-0-1-999      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Rent supplement...................          35           8           8
00.02 Homeownership and rental housing 
        assistance (Sections 235 and 
        236)............................       1,144          18          17
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................       1,179          26          25
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........       1,414         491         491
22.00 New budget authority (gross)......          81          26          25
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................         230
22.75 Balance of contract authority 
        withdrawn.......................         -55
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       1,670         517         516
23.95 Total new obligations.............      -1,179         -26         -25
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........         491         491         491
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................         626         578         578
40.00   Appropriation...................                      26          25
40.49   Portion applied to liquidate 
          contract authority............        -626        -578        -578
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............                      26          25
49.35   Contract authority permanently 
          reduced.......................        -675
      Mandatory:

60.00   Appropriation...................         756
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................          81          26          25
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..       6,522       6,861       6,306
73.10 Total new obligations.............       1,179          26          25
73.20 Total outlays (gross).............        -610        -581        -553
73.45 Recoveries of prior year 
        obligations.....................        -230
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..       6,861       6,306       5,778
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................                      16          15
86.93 Outlays from discretionary 
        balances........................         610         565         538
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........         610         581         553
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................          81          26          25
90.00 Outlays...........................         610         581         553
----------------------------------------------------------------------------

    Memorandum (non-add) entries:
93.01 Unobligated balance, start of 
        year: Contract authority........       1,414         491         311
93.02 Unobligated balance, end of year: 
        Contract authority..............         491         311         311
93.03 Obligated balance, start of year: 
        Contract authority..............       6,522       6,861       5,452
93.04 Obligated balance, end of year: 
        Contract authority..............       6,861       5,452       5,452
---------------------------------------------------------------------------

    The Other Assisted Housing Account contains the programs listed 
below:

    Rent supplement.--Rent supplement assistance payments will continue 
to be made on behalf of qualified low-income tenants in approximately 
17,239 units which have not converted to section 8.

    Section 235.--The Housing and Urban-Rural Recovery Act of 1983 
(Public Law 98-181) authorized a restructured section 235 (Homeownership 
Assistance) program that provided homeowners a 10-year interest 
reduction subsidy on their mortgages.

    Section 236.--The Housing and Urban Development Act of 1968, as 
amended, authorizes the section 236 Rental Housing Assistance Program 
which subsidizes the monthly mortgage payment that an owner of a rental 
or cooperative project is required to make. This interest subsidy 
reduces rents for lower income tenants.

    The table below reflects the consolidated outlay total for: the 
Housing Certificate Fund; Tenant-Based Rental Assistance; Project-Based 
Rental Assistance; the Public Housing Capital Fund; and the Other 
Assisted Housing account.

                         SUMMARY OF OUTLAYS \1\

                        (in millions of dollars)

                                     2005 actual  2006 est.   2007 est.
Subsidized housing programs, 
total.........................         27,048         27,730          28,044
Low-income housing assistance 
(sec. 8)......................         23,285         24,037          24,626
Public housing capital fund...          3,153          3,112           2,864
Rent supplement...............             55             55              55
Homeownership assistance (sec. 
235)..........................              4              4               3
Rental housing assistance 
(sec. 236)....................            544            517             489
College housing grants........              6              6               6

    \1\ Includes outlays for contract renewals.

                                

Homeownership and Opportunity for People Everywhere Grants (HOPE Grants)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0196-0-1-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           3
22.00 New budget authority (gross)......          -3
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.36   Unobligated balance permanently 
          reduced.......................          -3
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          12           9           6
73.20 Total outlays (gross).............          -3          -3          -3
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..           9           6           3
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.93 Outlays from discretionary 
        balances........................           3           3           3
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................          -3
90.00 Outlays...........................           3           3           3
---------------------------------------------------------------------------

    The Homeownership and Opportunity for People Everywhere Program 
provided affordable homeownership opportunities for low-income families. 
Units were converted to homeownership from public and Indian housing 
properties in HOPE 1, from FHA-insured and Government-held multifamily 
properties in HOPE 2, and from Government-owned or -held single family 
properties in HOPE 3. HOPE Grants were used for property acquisition, 
rehabilitation, mortgage subsidies, security measures, and technical 
assistance. In addition, grants have been devoted to counseling and 
training of residents, and other activities intended to help them become 
economically self-sufficient homeowners. No funding is being requested 
for 2007. This schedule reflects the liquidation of prior year balances.

                                

                  Manufactured Housing Fees Trust Fund

    For necessary expenses as authorized by the National Manufactured 
Housing Construction and Safety Standards Act of 1974, as amended (42 
U.S.C. 5401 et seq.), up to [$13,000,000] $16,000,000, to remain 
available until expended, to be derived from the Manufactured Housing 
Fees Trust Fund: Provided, That not to exceed the total amount 
appropriated under this heading shall be available from the general fund 
of the Treasury to the extent necessary to incur

[[Page 554]]

obligations and make expenditures pending the receipt of collections to 
the Fund pursuant to section 620 of such Act: Provided further, That the 
amount made available under this heading from the general fund shall be 
reduced as such collections are received during fiscal year [2006] 2007 
so as to result in a final fiscal year [2006] 2007 appropriation from 
the general fund estimated at not more than $0 and fees pursuant to such 
section 620 shall be modified as necessary to ensure such a final fiscal 
year [2006] 2007 appropriation: Provided further, That for the dispute 
resolution and installation programs, the Secretary of Housing and Urban 
Development may assess and collect fees from any program participant: 
Provided further, That such collections shall be deposited into the 
Fund, and the Secretary, subject to amounts made available under this 
heading, may use such collections, as well as fees collected under 
section 620, for necessary expenses of such Act. (Department of Housing 
and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0234-0-1-376      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          13          17          17
22.00 New budget authority (gross)......           4
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          17          17          17
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          17          17          17
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................           4
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..                      -1          -5
73.20 Total outlays (gross).............          -1          -4
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          -1          -5          -5
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................           1
86.93 Outlays from discretionary 
        balances........................                       4
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........           1           4
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................           4
90.00 Outlays...........................                       4
---------------------------------------------------------------------------

                                

                          Interstate Land Sales

          Special and Trust Fund Receipts (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-5270-0-2-376      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
01.00 Balance, start of year............
                                           ---------   ---------  ----------
01.99 Balance, start of year............
    Receipts:
02.60 Interstate land sales fund........           1           1
    Appropriations:
05.00 Interstate land sales.............          -1          -1
                                           ---------   ---------  ----------
07.99 Balance, end of year..............
---------------------------------------------------------------------------

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-5270-0-2-376      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Transfer to salaries and expenses.           1           1
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 25.2)...................           1           1
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......           1           1
23.95 Total new obligations.............          -1          -1
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Mandatory:

60.20   Appropriation (special fund)....           1           1
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............           1           1
73.20 Total outlays (gross).............          -1          -1
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.97 Outlays from new mandatory 
        authority.......................           1           1
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................           1           1
90.00 Outlays...........................           1           1
---------------------------------------------------------------------------

    The Interstate Land Sales Full Disclosure Act provides protection to 
the public with respect to purchase or leases of subdivision lots. 
Statements of record must be filed with the Secretary before 
subdivisions with 100 or more lots may be sold in interstate commerce, 
except when the subdivision is eligible for exemption.

    The Secretary is authorized to charge a fee, to be paid by the 
developer when filing a statement of record. The fee receipts are 
permanently appropriated and have helped finance a portion of the direct 
administrative expenses incurred in program operations. An estimated 600 
filings in 2007 will result in $450,000 in fees.

                                

Public enterprise funds:

                     Rental Housing Assistance Fund

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4041-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
09.01 Refunds of Excess Income..........           1           5           5
                                           ---------   ---------  ----------
10.00   Total new obligations...........           1           5           5
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           7          10          19
22.00 New budget authority (gross)......           4          14          14
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          11          24          33
23.95 Total new obligations.............          -1          -5          -5
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          10          19          28
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Mandatory:

69.00   Spending authority from 
          offsetting collections 
          (gross): Offsetting 
          collections (cash)............           4          14          14
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..                                  -9
73.10 Total new obligations.............           1           5           5
73.20 Total outlays (gross).............          -1         -14         -14
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..                      -9         -18
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.97 Outlays from new mandatory 
        authority.......................                      14          14
86.98 Outlays from mandatory balances...           1
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........           1          14          14
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

88.40   Offsetting collections (cash) 
          from: Non-Federal sources.....          -4         -14         -14
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................          -4
---------------------------------------------------------------------------

    The Housing and Urban Development Act of 1968 authorized the 
Secretary to establish a revolving fund into which

[[Page 555]]

rental collections in excess of the established basic rents for units in 
section 236 subsidized projects would be deposited.

    The Housing and Community Development Amendment of 1978 authorized 
the Secretary, subject to approval in appropriation acts, to transfer 
excess rent collections received after 1978 to the Troubled Projects 
Operating Subsidy program, renamed the Flexible Subsidy Fund. Prior to 
that time, collections were used for paying tax and utility increases in 
section 236 projects. The Housing and Community Development Act of 1980 
amended the 1978 Act by authorizing the transfer of excess rent 
collections regardless of when collected. This Budget proposes that the 
resources from the Rental Housing Assistance Fund continue to be 
transferred to the Flexible Subsidy Fund, with the exception of amounts 
required to make refunds of excess income remittances as authorized by 
Public Law 106-569.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4041-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
25.2  Direct obligations: Other services           1
25.2  Reimbursable obligations: Other 
        services........................                       5           5
                                           ---------   ---------  ----------
99.9    Total new obligations...........           1           5           5
---------------------------------------------------------------------------

                                

                          Flexible Subsidy Fund

                          [(transfer of funds)]

    [From the Rental Housing Assistance Fund, all uncommitted balances 
of excess rental charges as of September 30, 2005, and any collections 
made during fiscal year 2006 and all subsequent fiscal years, shall be 
transferred to the Flexible Subsidy Fund, as authorized by section 
236(g) of the National Housing Act, as amended.] (Department of Housing 
and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4044-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          42           4          24
22.00 New budget authority (gross)......         -39          20          20
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           1
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......           4          24          44
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           4          24          44
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.36   Unobligated balance permanently 
          reduced.......................         -68
      Discretionary:

68.00   Spending authority from 
          offsetting collections: 
          Offsetting collections (cash).          29          20          20
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................         -39          20          20
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..           2           1         -19
73.20 Total outlays (gross).............                     -20         -20
73.45 Recoveries of prior year 
        obligations.....................          -1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..           1         -19         -39
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................                      20          20
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

        Offsetting collections (cash) 
            from:
88.00     Federal sources...............                     -12         -12
88.20     Interest on Federal securities          -1
88.40     Non-Federal sources...........         -28          -8          -8
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........         -29         -20         -20
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         -68
90.00 Outlays...........................         -29
---------------------------------------------------------------------------

               Status of Direct Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4044-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of direct loans 
                outstanding:
1210  Outstanding, start of year........         707         703         699
1251  Repayments: Repayments and 
        prepayments.....................          -4          -4          -4
1264  Write-offs for default: Writeoff 
        for default: Other adjustments, 
        net.............................
                                           ---------   ---------  ----------
1290    Outstanding, end of year........         703         699         695
---------------------------------------------------------------------------

    The Flexible Subsidy Fund assisted financially troubled subsidized 
projects under certain FHA authorities. The subsidies were intended to 
prevent potential losses to the FHA fund resulting from project 
insolvency and to preserve these projects as a viable source of housing 
for low and moderate-income tenants. Priority was given to projects with 
Federal insurance-in-force and then to those with mortgages that had 
been assigned to the Department of Housing and Urban Development.

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4044-0-3-604

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
1101

Federal assets: Fund balances with Treasury

44

44

      Net value of assets related to 
          pre-1992 direct loans 
          receivable and acquired 
          defaulted guaranteed loans 
          receivable:

1601

Direct loans, gross

707

707

1602

Interest receivable

87

87

1603

Allowance for estimated uncollectible loans and interest (-)

-591

-591





1699

Value of assets related to direct loans

203

203





1999

Total assets

247

247

    LIABILITIES:
2207

Non-Federal liabilities: Other

3

3





2999

Total liabilities

3

3

    NET POSITION:
3100

Appropriated capital

-308

-308

3300

Cumulative results of operations

552

552





3999

Total net position

244

244





4999

Total liabilities and net position

247

247

-----------------------------------------------------------------------------------------------

                                

                    Nehemiah Housing Opportunity Fund

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4071-0-3-604      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           2
22.00 New budget authority (gross)......          -2
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.36   Unobligated balance permanently 
          reduced.......................          -2
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..           9          11           9
73.20 Total outlays (gross).............           2          -2          -2
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          11           9           7
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................          -2
86.93 Outlays from discretionary 
        balances........................                       2           2
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........          -2           2           2
----------------------------------------------------------------------------

[[Page 556]]



    Net budget authority and outlays:
89.00 Budget authority..................          -2
90.00 Outlays...........................          -1           2           2
---------------------------------------------------------------------------

    The Nehemiah grants program was authorized by the Housing and 
Community Development Act of 1987 to provide loans to eligible families 
to assist in the purchase of new or substantially rehabilitated units. 
This schedule reflects the liquidation of remaining reserved and 
obligated balances.

                                

Credit accounts:

                     Federal Housing Administration

                mutual mortgage insurance program account

                     (including transfers of funds)

    During fiscal year [2006] 2007, commitments to guarantee loans to 
carry out the purposes of section 203(b) of the National Housing Act, as 
amended, shall not exceed a loan principal of $185,000,000,000.
    During fiscal year [2006] 2007, obligations to make direct loans to 
carry out the purposes of section 204(g) of the National Housing Act, as 
amended, shall not exceed $50,000,000: Provided, That the foregoing 
amount shall be for loans to nonprofit and governmental entities in 
connection with sales of single family real properties owned by the 
Secretary and formerly insured under the Mutual Mortgage Insurance Fund.
    For administrative expenses necessary to carry out the guaranteed 
and direct loan program, [$355,000,000] $351,450,000, of which not to 
exceed [$351,000,000] $347,490,000 shall be transferred to the 
appropriation for ``Salaries and expenses''; and not to exceed 
[$4,000,000] $3,960,000 shall be transferred to the appropriation for 
``Office of Inspector General''. In addition, for administrative 
contract expenses, [$62,600,000] $62,400,000, of which [$18,281,000] 
$23,562,000 shall be transferred to the Working Capital Fund, and of 
which up to $10,000,000 shall be for education and outreach of FHA 
single family loan products: Provided, That to the extent guaranteed 
loan commitments exceed $65,500,000,000 on or before April 1, [2006] 
2007, an additional $1,400 for administrative contract expenses shall be 
available for each $1,000,000 in additional guaranteed loan commitments 
(including a pro rata amount for any amount below $1,000,000), but in no 
case shall funds made available by this proviso exceed $30,000,000. 
(Department of Housing and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0183-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.07 Reestimates of loan guarantee 
        subsidy--upward re-estimate.....       2,003       2,881
00.08 Interest on reestimates of loan 
        guarantee subsidy...............         391         523
00.09 Administrative expenses, salaries 
        & expenses transfer.............         354         352         352
00.12 Non-overhead administrative 
        expenses for FHA contracts......          72          62          62
                                           ---------   ---------  ----------
10.00   Total new obligations...........       2,820       3,818         414
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......         431         414         414
22.22 Unobligated balance transferred 
        from other accounts.............       2,394       3,404
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       2,825       3,818         414
23.95 Total new obligations.............      -2,820      -3,818        -414
23.98 Unobligated balance expiring or 
        withdrawn.......................          -5
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................         435         418         414
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -4
40.35   Appropriation permanently 
          reduced.......................          -4
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............         431         414         414
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          81          94          94
73.10 Total new obligations.............       2,820       3,818         414
73.20 Total outlays (gross).............      -2,799      -3,818        -414
73.40 Adjustments in expired accounts 
        (net)...........................          -8
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          94          94          94
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................         372         346         346
86.93 Outlays from discretionary 
        balances........................          33          68          68
86.98 Outlays from mandatory balances...       2,394       3,404
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........       2,799       3,818         414
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         431         414         414
90.00 Outlays...........................       2,799       3,818         414
---------------------------------------------------------------------------

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in 
                            millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0183-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Direct loan levels supportable by subsidy 
                budget authority:
115001MMI Fund, Direct loans............           5          50          50
                                           ---------   ---------  ----------
115901Total direct loan levels..........           5          50          50
    Direct loan subsidy (in percent):
132001MMI Fund, Direct loans............        0.00        0.00        0.00
    Direct loan subsidy budget authority:
133001MMI Fund, Direct loans............
                                           ---------   ---------  ----------
133901Total subsidy budget authority....
    Direct loan subsidy outlays:
134001MMI Fund, Direct loans............
                                           ---------   ---------  ----------
134901Total subsidy outlays.............
----------------------------------------------------------------------------

    Guaranteed loan levels supportable by subsidy 
                budget authority:
215001MMI Fund, Section 203(b)..........                  48,594      45,541
215002MMI Fund, Section 203(b) (Oct--Dec 
        2004)...........................      17,935
215003MMI Section 203(b) (Jan--Sept 
        2005)...........................      40,082
215004MMI HECM..........................
215005Standby commitment authority......                 136,406     139,459
                                           ---------   ---------  ----------
215901Total loan guarantee levels.......      58,017     185,000     185,000
    Guaranteed loan subsidy (in percent):
232001MMI Fund, Section 203(b) subsidy 
        rate............................        0.00       -1.70       -0.37
232002MMI Fund, Section 203(b) subsidy 
        rate for Oct thru Dec 2004......       -1.71        0.00        0.00
232003MMI Fund, Section 203(b) subsidy 
        rate for Jan thru Sept 2005.....       -1.84        0.00        0.00
232004MMI HECM--subsidy rate............        0.00        0.00        0.00
                                           ---------   ---------  ----------
232901Weighted average subsidy rate.....       -1.80       -1.70       -0.37
    Guaranteed loan subsidy budget authority:
233001MMI Fund, Section 203(b)..........                    -826        -169
233002MMI Fund, Section 203(b) (Oct--Dec 
        2004)...........................        -307
233003MMI Fund, Section 203(b) (Jan--
        Sept 2005)......................        -737
233004MMI HECM--subsidy.................
233005Loan modification--savings........                     -13         -13
                                           ---------   ---------  ----------
233901Total subsidy budget authority....      -1,044        -839        -182
    Guaranteed loan subsidy outlays:
234001MMI Fund, Section 203(b)..........                    -826        -169
234002MMI Fund, Section 203(b) (Oct--Dec 
        2004)...........................        -307
234003MMI Fund, Section 203(b) (Jan--
        Sept 2005)......................        -737
234004MMI HECM--subsidy outlay..........
234005Loan modification--savings........                     -13         -13
                                           ---------   ---------  ----------
234901Total subsidy outlays.............      -1,044        -839        -182
    Guaranteed loan upward reestimate subsidy 
                budget authority:
235001MMI Fund, Section 203(b)..........       2,394       3,404
                                           ---------   ---------  ----------
235901Total upward reestimate budget 
        authority.......................       2,394       3,404
    Guaranteed loan downward reestimate subsidy 
                budget authority:
237001MMI Fund, Section 203(b)..........         -56        -103
                                           ---------   ---------  ----------
237901Total downward reestimate subsidy 
        budget authority................         -56        -103
----------------------------------------------------------------------------

[[Page 557]]


    Administrative expense data:
351001Budget authority..................       2,820       3,818         414
358001Outlays from balances.............          33          68          68
359001Outlays from new authority........       2,766       3,750         346
---------------------------------------------------------------------------

    The Federal Housing Administration (FHA) provides mortgage insurance 
to encourage lenders to make credit available to expand homeownership 
and to predominantly serve borrowers that the conventional market does 
not adequately provide for, including: first-time homebuyers; 
minorities; lower-income families; and, residents of underserved areas 
(central cities and rural areas).

    As required by the Federal Credit Reform Act of 1990, this account 
records administrative expenses for this program, as well as the subsidy 
costs, if any, associated with the loan guarantees committed in 1992 and 
thereafter. The subsidy amounts are estimated on a present value basis; 
the administrative expenses are estimated on a cash basis.

    In 2007, FHA is requesting an aggregate limitation of $185 billion 
on loan guarantees and is proposing legislative changes to reform FHA, 
including the consolidation of all single family programs under this 
account.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0183-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
25.2  Other services....................          57          62          62
25.3  Other purchases of goods and 
        services from Government 
        accounts........................         369         352         352
41.0  Grants, subsidies, and 
        contributions...................       2,003       2,881
43.0  Interest and dividends............         391         523
                                           ---------   ---------  ----------
99.9    Total new obligations...........       2,820       3,818         414
---------------------------------------------------------------------------

                                

                Mutual Mortgage Insurance Program Account

              (Legislative proposal, not subject to PAYGO)

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in 
                            millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0183-2-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Guaranteed loan levels supportable by subsidy 
                budget authority:
215001MMI Fund, Section Purchase and 
        Refinance.......................                              22,990
215002MMI Fund, Section 203(b) (Oct--Dec 
        2004)...........................
215003MMI Section 203(b) (Jan--Sept 
        2005)...........................
215004MMI HECM..........................                              17,508
215005Standby commitment authority......                             -40,498
                                           ---------   ---------  ----------
215901Total loan guarantee levels.......
    Guaranteed loan subsidy (in percent):
232001MMI Purchase and Refinance--
        subsidy rate....................                               -0.53
232002MMI Fund, Section 203(b) subsidy 
        rate for Oct thru Dec 2004......                                0.00
232003MMI Fund, Section 203(b) subsidy 
        rate for Jan thru Sept 2005.....                                0.00
232004MMI HECM--subsidy rate............                               -1.21
232005Subsidy rate......................                                0.00
                                           ---------   ---------  ----------
232901Weighted average subsidy rate.....                               -0.59
    Guaranteed loan subsidy budget authority:
233001MMI Purchase and Refinance--
        subsidy.........................                                -451
233002MMI Fund, Section 203(b) (Oct--Dec 
        2004)...........................
233003MMI Fund, Section 203(b) (Jan--
        Sept 2005)......................
233004MMI HECM--subsidy.................                                -212
233005Loan modification--savings........
                                           ---------   ---------  ----------
233901Total subsidy budget authority....                                -663
    Guaranteed loan subsidy outlays:
234001MMI Purchase and Refinance--
        subsidy outlay..................                                -451
234002MMI Fund, Section 203(b) (Oct--Dec 
        2004)...........................
234003MMI Fund, Section 203(b) (Jan--
        Sept 2005)......................
234004MMI HECM--subsidy outlay..........                                -212
234005Loan modification--savings........
                                           ---------   ---------  ----------
234901Total subsidy outlays.............                                -663
----------------------------------------------------------------------------

    Administrative expense data:
351001Budget authority..................
358001Outlays from balances.............
359001Outlays from new authority........
---------------------------------------------------------------------------

                                

      FHA--Mutual Mortgage Insurance Direct Loan Financing Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4242-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Direct loans......................           5          50          50
00.02 Interest paid to Treasury.........                       2           2
00.03 Claims & other....................                       4           4
                                           ---------   ---------  ----------
10.00   Total new obligations...........           5          56          56
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           3           5
22.00 New financing authority (gross)...           7         105         105
22.60 Portion applied to repay debt.....                     -54         -49
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          10          56          56
23.95 Total new obligations.............          -5         -56         -56
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           5
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Mandatory:

67.10   Authority to borrow.............           3          50          50
      Spending authority from offsetting 
          collections:

        Discretionary:
68.00     Offsetting collections (cash).           4
        Mandatory:
69.00     Offsetting collections (cash).                      55          55
                                           ---------   ---------  ----------
70.00   Total new financing authority 
          (gross).......................           7         105         105
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............           5          56          56
73.20 Total financing disbursements 
        (gross).........................          -5         -56         -56
87.00 Total financing disbursements 
        (gross).........................           5          56          56
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

        Offsetting collections (cash) 
            from:
88.25     Interest on uninvested funds..                      -1          -1
88.40     Repayment of principal........          -4         -50         -50
88.40     Repayment of interest.........                      -4          -4
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........          -4         -55         -55
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............           3          50          50
90.00 Financing disbursements...........                       1           1
---------------------------------------------------------------------------

    As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the Government 
resulting from direct loans obligated in 1992 and thereafter (including 
modifications of direct loans that resulted from obligations in any 
year). The amounts in this account are a means of financing and are not 
included in the budget totals.

    The $50 million in 2007 direct loan limitation in the MMI Fund would 
permit the Department to use Purchase Money Mortgages (PMMs) to help 
finance the sale of acquired single family properties. HUD would extend 
credit for these single-family homes to community nonprofit 
organizations or local government entities who would be expected to sell 
the properties to low- and moderate-income buyers. The use of PMMs 
provides a tool for State and local nonprofit organizations to use in 
revitalizing communities, and creates enhanced homeownership 
opportunities for low- and moderate-income families.

      

[[Page 558]]

               Status of Direct Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4242-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on obligations:
1111  Limitation on direct loans........          50          50          50
1142  Unobligated direct loan limitation 
        (-).............................         -45
                                           ---------   ---------  ----------
1150    Total direct loan obligations...           5          50          50
----------------------------------------------------------------------------

    Cumulative balance of direct loans 
                outstanding:
1210  Outstanding, start of year........                       1           1
1231  Disbursements: Direct loan 
        disbursements...................           5          50          50
1251  Repayments: Repayments and 
        prepayments.....................          -4         -50         -50
                                           ---------   ---------  ----------
1290    Outstanding, end of year........           1           1           1
---------------------------------------------------------------------------

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4242-0-3-371

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
1101

Federal assets: Fund balances with Treasury

3

5

      Net value of assets related to 
          post-1991 direct loans 
          receivable:

1401

Direct loans receivable, gross



1

1405

Allowance for subsidy cost (-)

-3

-3





1499

Net present value of assets related to direct loans

-3

-2





1999

Total assets



3

    LIABILITIES:
2103

Federal liabilities: Federal Liabilities--Debt



3





2999

Total liabilities



3





4999

Total liabilities and net position



3

-----------------------------------------------------------------------------------------------

                                

    FHA--Mutual Mortgage Insurance Guaranteed Loan Financing Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4587-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Loan guarantee default claim 
        payments........................       6,641       6,397       6,563
00.02 Other capital investment & 
        operating expenses..............         592         639         561
00.08 Interest payments to Treasury.....         373         329         288
                                           ---------   ---------  ----------
00.91   Subtotal, capital/operating 
          expenses......................       7,606       7,365       7,412
08.01 Payment of negative subsidy to 
        capital reserve for new business       1,044         826         169
08.02 Reestimate of loan guarantee 
        subsidy (downward reestimates)..          24          39
08.04 Interest on reestimates of loan 
        guarantee subsidy...............          33          64
08.05 Loan modification payment to 
        capital reserve account 86-0236.                      13          13
                                           ---------   ---------  ----------
08.91   Direct Program by Activities--
          Subtotal (1 level)............       1,101         942         182
                                           ---------   ---------  ----------
10.00   Total new obligations...........       8,707       8,307       7,594
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........       3,458       3,389       5,921
22.00 New financing authority (gross)...       9,601      12,839       8,168
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................          37
22.60 Portion applied to repay debt.....      -1,000      -2,000      -1,000
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......      12,096      14,228      13,089
23.95 Total new obligations.............      -8,707      -8,307      -7,594
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........       3,389       5,921       5,495
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Mandatory:

67.10   Authority to borrow.............         400       1,000       1,000
      Spending authority from offsetting 
          collections:

        Mandatory:
69.00     Offsetting collections........       2,394       3,404
69.00     Offsetting collections (cash).       6,938       8,435       7,168
69.10     Change in uncollected customer 
            payments from Federal 
            sources (unexpired).........        -131
                                           ---------   ---------  ----------
69.90       Spending authority from 
              offsetting collections 
              (total mandatory).........       9,201      11,839       7,168
                                           ---------   ---------  ----------
70.00   Total new financing authority 
          (gross).......................       9,601      12,839       8,168
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         840       1,080       1,246
73.10 Total new obligations.............       8,707       8,307       7,594
73.20 Total financing disbursements 
        (gross).........................      -8,561      -8,141      -7,441
73.45 Recoveries of prior year 
        obligations.....................         -37
74.00 Change in uncollected customer 
        payments from Federal sources 
        (unexpired).....................         131
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..       1,080       1,246       1,399
87.00 Total financing disbursements 
        (gross).........................       8,561       8,141       7,441
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

        Offsetting collections (cash) 
            from:
88.00     Transfer of Reestimates from 
            reserves in Capital Reserve 
            account.....................      -2,394      -3,404
88.00     Federal sources...............        -131
88.25     Interest on uninvested funds..        -264        -179        -191
88.40     Fees and premiums.............      -1,888      -2,028      -2,066
88.40     Recoveries on defaults........      -4,655      -6,228      -4,911
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........      -9,332     -11,839      -7,168
      Against gross financing authority only:

88.95   Change in receivables from 
          program accounts..............         131
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............         400       1,000       1,000
90.00 Financing disbursements...........        -771      -3,698         273
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4587-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on commitments:
2111  Limitation on guaranteed loans 
        made by private lenders.........     185,000     185,000     185,000
2142  Uncommitted loan guarantee 
        limitation......................    -126,983    -136,406    -139,459
                                           ---------   ---------  ----------
2150    Total guaranteed loan 
          commitments...................      58,017      48,594      45,541
2199  Guaranteed amount of guaranteed 
        loan commitments................      58,017      48,594      45,541
----------------------------------------------------------------------------

    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........     364,285     319,846     321,858
2231  Disbursements of new guaranteed 
        loans...........................      58,017      48,594      45,541
2251  Repayments and prepayments........     -95,742     -40,185     -39,755
      Adjustments:

2261    Terminations for default that 
          result in loans receivable....        -808        -189         -57
2262    Terminations for default that 
          result in acquisition of 
          property......................      -5,682      -6,135      -6,430
2263    Terminations for default that 
          result in claim payments......        -224         -73         -77
                                           ---------   ---------  ----------
2290    Outstanding, end of year........     319,846     321,858     321,080
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..     319,846     321,858     321,080
----------------------------------------------------------------------------

    Addendum:
      Cumulative balance of defaulted guaranteed 
          loans that result in loans receivable:

2310    Outstanding, start of year......         410         343
2331    Disbursements for guaranteed 
          loan claims...................         808         189          57
2351    Repayments of loans receivable..        -646
2364    Other adjustments, net..........        -229        -532         -57
                                           ---------   ---------  ----------
2390      Outstanding, end of year......         343
---------------------------------------------------------------------------

                                                                


    As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the Government 
resulting from loans insured in 1992 and

[[Page 559]]

thereafter. The amounts in this account are considered a means of 
financing and are not included in the budget totals.

      

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4587-0-3-371

2004 actual\1\

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
      Federal assets:

1101

Fund balances with Treasury

4,298

4,469

        Investments in US securities:
1106

Receivables, net

2,362

2,292

      Non-Federal assets:

1201

Investments in non-Federal securities, net

116

192

1206

Receivables, net

308

290

      Net value of assets related to 
          post-1991 acquired defaulted 
          guaranteed loans receivable:

1501

Defaulted guaranteed loans receivable, gross

410

343

1502

Interest receivable

2

1

1504

Foreclosed property

2,095

2,405

1505

Allowance for subsidy cost

-993

-1,441





1599

Net value of assets related to defaulted guaranteed loan

1,514

1,308

1901

Other Federal assets: Other assets

485

363





1999

Total assets

9,083

8,914

    LIABILITIES:
      Federal liabilities:

2101

Accounts payable

54

103

2103

Federal liabilities, Debt

6,835

6,235

      Non-Federal liabilities:

2201

Accounts payable

610

671

2204

Liabilities for loan guarantees

1,316

1,803

2207

Other

268

102





2999

Total liabilities

9,083

8,914





4999

Total liabilities and net position

9,083

8,914

-----------------------------------------------------------------------------------------------

    FHA--Mutual Mortgage Insurance Guaranteed Loan Financing Account

              (Legislative proposal, not subject to PAYGO)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4587-2-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Loan guarantee default claim 
        payments........................                                  32
00.02 Other capital investment & 
        operating expenses..............                                   2
00.08 Interest payments to Treasury.....                                  29
                                           ---------   ---------  ----------
00.91   Subtotal, capital/operating 
          expenses......................                                  63
08.01 Payment of negative subsidy for 
        new business....................
08.06 HECM Negative Subsidy to MMI 
        Receipt Acct....................                                 212
08.07 MMI Purchase and Refinance Neg. 
        Subsidy to MMI Receipt Acct.....                                 451
                                           ---------   ---------  ----------
08.91   Direct Program by Activities--
          Subtotal (1 level)............                                 663
                                           ---------   ---------  ----------
10.00   Total new obligations...........                                 726
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New financing authority (gross)...                                 828
23.95 Total new obligations.............                                -726
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........                                 102
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Mandatory:

69.00   Spending authority from 
          offsetting collections 
          (gross): Offsetting 
          collections...................                                 828
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                                 726
73.20 Total financing disbursements 
        (gross).........................                                -579
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..                                 147
87.00 Total financing disbursements 
        (gross).........................                                 579
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

        Offsetting collections (cash) 
            from:
88.25     Interest on uninvested funds..                                 -25
88.40     Fees and premiums.............                                -791
88.40     Recoveries on defaults........                                 -12
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........                                -828
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............
90.00 Financing disbursements...........                                -249
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4587-2-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on commitments:
2142  Uncommitted loan guarantee 
        limitation......................                              40,498
                                           ---------   ---------  ----------
2150    Total guaranteed loan 
          commitments...................                              40,498
2199  Guaranteed amount of guaranteed 
        loan commitments................                              40,498
----------------------------------------------------------------------------

    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........
2231  Disbursements of new guaranteed 
        loans...........................                              40,498
2251  Repayments and prepayments........                                -934
      Adjustments:

2261    Terminations for default that 
          result in loans receivable....
2262    Terminations for default that 
          result in acquisition of 
          property......................                                 -32
2263    Terminations for default that 
          result in claim payments......
                                           ---------   ---------  ----------
2290    Outstanding, end of year........                              39,532
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..                              39,532
----------------------------------------------------------------------------

    Addendum:
      Cumulative balance of defaulted guaranteed 
          loans that result in loans receivable:

2310    Outstanding, start of year......
2331    Disbursements for guaranteed 
          loan claims...................
2351    Repayments of loans receivable..
2364    Other adjustments, net..........
                                           ---------   ---------  ----------
2390      Outstanding, end of year......
---------------------------------------------------------------------------

                                

         FHA--Mutual Mortgage Insurance Capital Reserve Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0236-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........      23,519      23,262      21,864
22.00 New budget authority (gross)......       2,181       2,006       1,251
22.21 Unobligated balance transferred to 
        other accounts..................      -2,438      -3,404
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......      23,262      21,864      23,115
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........      23,262      21,864      23,115
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Spending authority from offsetting 
          collections:

        Mandatory:
69.00     Offsetting collections (cash).       1,124       1,167       1,069
69.00     Offsetting collections (cash).       1,044         839         182
69.10     Change in uncollected customer 
            payments from Federal 
            sources (unexpired).........          13
                                           ---------   ---------  ----------
69.90       Spending authority from 
              offsetting collections 
              (total mandatory).........       2,181       2,006       1,251
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..        -248        -261        -261
74.00 Change in uncollected customer 
        payments from Federal sources 
        (unexpired).....................         -13
                                           ---------   ---------  ----------

[[Page 560]]


74.40   Obligated balance, end of year..        -261        -261        -261
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

        Offsetting collections (cash) 
            from:
88.00     Federal sources--negative 
            subsidy from new business...      -1,044        -826        -169
88.00     Federal sources--downward 
            reestimates.................         -56        -103
88.00     Federal sources--loan 
            modification................                     -13         -13
88.20     Interest on Federal securities      -1,068      -1,064      -1,069
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........      -2,168      -2,006      -1,251
      Against gross budget authority only:

88.95   Change in uncollected customer 
          payments from Federal sources 
          (unexpired)...................         -13
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................      -2,168      -2,006      -1,251
----------------------------------------------------------------------------

    Memorandum (non-add) entries:
92.01 Total investments, start of year: 
        Federal securities: Par value...      23,321      22,642      23,107
92.02 Total investments, end of year: 
        Federal securities: Net.........      22,642      23,107      22,869
---------------------------------------------------------------------------

                 Summary of Budget Authority and Outlays

                        (in millions of dollars)

                                     2005 actual  2006 est.   2007 est.
Enacted/requested:
  Budget Authority............
  Outlays.....................         -2,168         -2,006          -1,251
Legislative proposal, not subject to 
    PAYGO:
  Budget Authority............
  Outlays.....................                                         1,251
                                    ------------------------------------
Total:
  Budget Authority............
  Outlays.....................         -2,168         -2,006
                                    ====================================

    In 2002, a new Capital Reserve account was established for the 
Mutual Mortgage Insurance Fund. Financial reserves, including 
securities, of the MMI Fund were transferred from the liquidating 
account to the new Capital Reserve account. In 2003, this new account 
started earning interest on Treasury investments, collecting negative 
subsidy and downward reestimates from the Financing account, and paying 
upward reestimates. The Liquidating account will now only reflect 
cashflows related to pre-1992 books of business.

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-0236-0-1-371

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
      Federal assets:

1101

Fund balances with Treasury

301

728

        Investments in US securities:
1102

Treasury securities, net

23,178

22,481

1106

Receivables, net

302

362





1999

Total assets

23,781

23,571

    LIABILITIES:
2101

Federal liabilities: Accounts payable

2,362

2,292





2999

Total liabilities

2,362

2,292

    NET POSITION:
3300

Cumulative results of operations

21,419

21,279





3999

Total net position

21,419

21,279





4999

Total liabilities and net position

23,781

23,571

-----------------------------------------------------------------------------------------------

                                

         FHA--Mutual Mortgage Insurance Capital Reserve Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0236-2-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......                              -1,251
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........                              -1,251
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Spending authority from offsetting 
          collections:

        Mandatory:
69.00     Offsetting collections (cash).                              -1,069
69.00     Offsetting collections (cash).                                -182
                                           ---------   ---------  ----------
69.90       Spending authority from 
              offsetting collections 
              (total mandatory).........                              -1,251
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

        Offsetting collections (cash) 
            from:
88.00     Federal sources--negative 
            subsidy from new business...                                 169
88.00     Federal sources--downward 
            reestimates.................
88.00     Federal sources--loan 
            modification................                                  13
88.20     Interest on Federal securities                               1,069
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........                               1,251
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................                               1,251
----------------------------------------------------------------------------

    Memorandum (non-add) entries:
92.02 Total investments, end of year: 
        Federal securities: Par value...                                 238
---------------------------------------------------------------------------

                                

FHA--Mutual Mortgage and Cooperative Housing Insurance Funds Liquidating 
                                 Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4070-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
01.03 Acquisition of real properties....          42          66          43
01.07 Capitalized expenses..............          40          15           9
01.08 Loss mitigation activities........           5           3           2
                                           ---------   ---------  ----------
01.91   Total capital investment........          87          84          54
02.02 Other Operation expenses..........          14          11          11
                                           ---------   ---------  ----------
10.00   Total new obligations...........         101          95          65
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          12          38          29
22.00 New budget authority (gross)......          81          86          50
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           2
22.22 Unobligated balance transferred 
        from other accounts.............          44
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......         139         124          79
23.95 Total new obligations.............        -101         -95         -65
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          38          29          14
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Mandatory:

69.00   Spending authority from 
          offsetting collections 
          (gross): Offsetting 
          collections (cash)............          81          86          50
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         276         266         266
73.10 Total new obligations.............         101          95          65
73.20 Total outlays (gross).............        -109         -95         -65
73.45 Recoveries of prior year 
        obligations.....................          -2
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         266         266         266
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.97 Outlays from new mandatory 
        authority.......................          81          86          50

[[Page 561]]

86.98 Outlays from mandatory balances...          28           9          15
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........         109          95          65
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

        Offsetting collections (cash) 
            from:
88.40     Fees and premiums.............          -4         -10          -7
88.40     Recoveries on defaulted 
            mortgages...................         -74         -76         -43
88.40     Other.........................          -3
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........         -81         -86         -50
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................          28           9          15
---------------------------------------------------------------------------

               Status of Direct Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4070-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of direct loans 
                outstanding:
1210  Outstanding, start of year........           2           3           3
1264  Write-offs for default: Other 
        adjustments, net................           1
                                           ---------   ---------  ----------
1290    Outstanding, end of year........           3           3           3
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4070-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........      19,392      16,074      13,415
2251  Repayments and prepayments........      -3,275      -2,593      -2,245
2262  Adjustments: Terminations for 
        default that result in 
        acquisition of property.........         -43         -66         -43
                                           ---------   ---------  ----------
2290    Outstanding, end of year........      16,074      13,415      11,127
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..      16,074      13,415      11,127
----------------------------------------------------------------------------

    Addendum:
      Cumulative balance of defaulted guaranteed 
          loans that result in loans receivable:

2310    Outstanding, start of year......                       8
2331    Disbursements for guaranteed 
          loan claims...................           3           2           1
2361    Write-offs of loans receivable..                     -10          -1
2364    Other adjustments, net..........           5
                                           ---------   ---------  ----------
2390      Outstanding, end of year......           8
---------------------------------------------------------------------------

    The Federal Housing Administration Fund currently consists of four 
separate insurance funds.

    In order to present more clearly the operations of the various 
funds, FHA's budget transactions are separated into two major business 
segments. The basic single-family insurance programs in the Mutual 
Mortgage Insurance (MMI) fund and the multifamily Cooperative Management 
Housing Insurance (CMHI) funds form one segment. All other multifamily 
and other specialized insurance programs in the General Insurance and 
Special Risk Insurance funds (GI/SRI) form the other segment.

    The Federal Credit Reform Act of 1990 creates a structure of three 
accounts for existing credit program. For each of the FHA business 
segments (MMI/CMHI and GI/SRI) there is a liquidating account, which 
records the revenues and costs associated with loan insurance committed 
prior to October 1, 1991, a financing account which records the revenues 
and costs associated with commitments to insure loans made after 
September 30, 1991, and, a program account which records the 
transactions associated with the program subsidy costs, if any, and the 
costs of administering the program.

    This liquidating account records, for this program, all cash flows 
to and from the Government resulting from MMI/CMHI loans insured prior 
to 1992 and is shown on a cash basis. All new activity in this program 
in 1992 and thereafter (including modifications of loans insured in any 
year) is recorded in the corresponding program (86-0183) and financing 
(86-4587 and 86-4242) accounts.

    In 2002, a new MMI capital reserve account was established to 
maintain reserves required by statute that were previously deposited in 
the liquidating account.

    The program activity in the ``Program Highlights'' table shown below 
reflects only the activity in the MMI/CMHI liquidating and financing 
accounts. The GI/SRI program activity can be found with the GI/SRI 
liquidating account (86-4072).

                           PROGRAM HIGHLIGHTS

                        (in millions of dollars)

                                     2005 actual  2006 est.   2007 est.
Mortgage insurance written (in 
    fiscal year):
  Units.............................     491,550     384,153     564,202
  Amount (in millions of dollars)...     $58,017     $48,594     $86,039
                                    ====================================
Insurance maintenance: Outstanding 
    balance of insurance in force, 
    end of year:
  Mortgage insurance (in millions of 
    dollars)........................    $319,846    $321,858    $360,612
                                    ====================================

    Financial condition.--The following tables reflect the revenues, 
expenses and financial condition of the MMI/CMHI liquidating funds based 
on Generally Accepted Accounting Principles.

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4070-0-3-371

2004 actual\1\

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
1101

Federal assets: Fund balances with Treasury

288

304

1206

Non-Federal assets: Receivables, net

26

24

      Net value of assets related to 
          pre-1992 direct loans 
          receivable and acquired 
          defaulted guaranteed loans 
          receivable:

1701

Defaulted guaranteed loans, gross

9

8

1703

Allowance for estimated uncollectible loans and interest (-)

-2

-3





1704

Defaulted guaranteed loans and interest receivable, net

7

5

1706

Foreclosed property

13

16





1799

Value of assets related to loan guarantees

20

21

1901

Other Federal assets: Other assets

2

4





1999

Total assets

336

353

    LIABILITIES:
      Non-Federal liabilities:

2201

Accounts payable

236

227

2204

Liabilities for loan guarantees

85

53

2207

Unearned revenue and advances, and other

150

113





2999

Total liabilities

471

393

    NET POSITION:
3300

Cumulative results of operations

-135

-40





3999

Total net position

-135

-40





4999

Total liabilities and net position

336

353

-----------------------------------------------------------------------------------------------
    \1\ Estimated result on GAAP basis pending final audit.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4070-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
25.2  Other services....................          14          10          11
32.0  Land and structures...............          82          82          52
42.0  Insurance claims and indemnities..           5           3           2
                                           ---------   ---------  ----------
99.9    Total new obligations...........         101          95          65
---------------------------------------------------------------------------

                                

                General and Special Risk Program Account

                     (including transfers of funds)

    For the cost of guaranteed loans, as authorized by sections 238 and 
519 of the National Housing Act (12 U.S.C. 1715z-3 and 1735c), including 
the cost of loan guarantee modifications, as that term is defined in 
section 502 of the Congressional Budget Act of 1974, as amended, 
[$8,800,000] $8,600,000, to remain available until ex

[[Page 562]]

pended: Provided, That commitments to guarantee loans shall not exceed 
$35,000,000,000 in total loan principal, any part of which is to be 
guaranteed.
    Gross obligations for the principal amount of direct loans, as 
authorized by sections 204(g), 207(l), 238, and 519(a) of the National 
Housing Act, shall not exceed $50,000,000, of which not to exceed 
$30,000,000 shall be for bridge financing in connection with the sale of 
multifamily real properties owned by the Secretary and formerly insured 
under such Act; and of which not to exceed $20,000,000 shall be for 
loans to nonprofit and governmental entities in connection with the sale 
of single-family real properties owned by the Secretary and formerly 
insured under such Act.
    In addition, for administrative expenses necessary to carry out the 
guaranteed and direct loan programs, [$231,400,000] $229,086,000, of 
which [$211,400,000] $209,286,000 shall be transferred to the 
appropriation for ``Salaries and Expenses''; and of which [$20,000,000] 
$19,800,000 shall be transferred to the appropriation for ``Office of 
Inspector General''.
    In addition, for administrative contract expenses necessary to carry 
out the guaranteed and direct loan programs, [$71,900,000] $78,111,000, 
of which $10,692,000 shall be transferred to the Working Capital Fund: 
Provided, That to the extent guaranteed loan commitments exceed 
$8,426,000,000 on or before April 1, [2006] 2007, an additional $1,980 
for administrative contract expenses shall be available for each 
$1,000,000 in additional guaranteed loan commitments over $8,426,000,000 
(including a pro rata amount for any increment below $1,000,000), but in 
no case shall funds made available by this proviso exceed $14,400,000. 
(Department of Housing and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0200-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.02 Guaranteed loan subsidy...........           4           5           7
00.04 Subsidy for loan modification.....           2
00.07 Reestimate of credit subsidy......         634         441
00.08 Interest on reestimates of loan 
        guarantee subsidy...............         133          37
00.09 Administrative expenses, salaries 
        & expenses transfer.............         226         229         229
00.10 Administrative contract expenses..          77          71          78
                                           ---------   ---------  ----------
10.00   Total new obligations...........       1,076         783         314
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          77          52          56
22.00 New budget authority (gross)......       1,058         787         316
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       1,135         839         372
23.95 Total new obligations.............      -1,076        -783        -314
23.98 Unobligated balance expiring or 
        withdrawn.......................          -7
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          52          56          58
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................         324         312         316
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -3
40.35   Appropriation permanently 
          reduced (accross-the board 
          rescission)...................         -30
40.36   Unobligated balance permanently 
          reduced (rescission)..........          -3
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............         291         309         316
      Mandatory:

60.00   Appropriation...................         767         478
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................       1,058         787         316
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          91          99          93
73.10 Total new obligations.............       1,076         783         314
73.20 Total outlays (gross).............      -1,061        -789        -316
73.40 Adjustments in expired accounts 
        (net)...........................          -7
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          99          93          91
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................         248         292         299
86.93 Outlays from discretionary 
        balances........................          46          19          17
86.97 Outlays from new mandatory 
        authority.......................         767         478
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........       1,061         789         316
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................       1,058         787         316
90.00 Outlays...........................       1,061         789         316
---------------------------------------------------------------------------

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in 
                            millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0200-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Direct loan levels supportable by subsidy 
                budget authority:
115001Single-family PMMs................
115002Multifamily bridge loans..........
                                           ---------   ---------  ----------
115901Total direct loan levels..........
    Direct loan subsidy (in percent):
132001Single-family PMMs................        0.00        0.00        0.00
132002Multifamily bridge loans..........        0.00        0.00        0.00
                                           ---------   ---------  ----------
132901Weighted average subsidy rate.....        0.00        0.00        0.00
    Direct loan subsidy budget authority:
133001Single-family PMMs................
133002Multifamily bridge loans..........
                                           ---------   ---------  ----------
133901Total subsidy budget authority....
    Direct loan subsidy outlays:
134001Single-family PMMs................
134002Multifamily bridge loans..........
                                           ---------   ---------  ----------
134901Total subsidy outlays.............
----------------------------------------------------------------------------

    Guaranteed loan levels supportable by subsidy 
                budget authority:
215001Apartments NC/SC..................       1,249       1,800       1,800
215002221d3 NP/Coop owned apts..........           3          30          52
215003Tax Credits NC....................         853         850       1,300
215004Mixed Income (Hope d4)............
215005Apartments Refinance..............       1,869       1,800       1,800
215006241a Supplemental Loans for Apts..                      10          10
215007Operating Loss Loans for Apts 
        (plus 232)......................           1           1           1
215008HFA Risk Sharing..................         166         150         200
215009GSE Risk Sharing..................          20          20          35
215010FHA Full Insurance for Health Care 
        Facilities (plus 241/232).......         192         190         190
215011Health Care Refinances............       1,032       1,000       1,000
215012Hospitals.........................         784         750         750
215013Other Rental (incl 
        207(mhp),220,231)...............          55          55          55
215014Section 234: Condominiums.........      12,879       3,821       3,842
215015Section 203(k): Rehabilitation 
        Mortgages.......................         431         419         421
215016Home Equity Conversion Mortgages..                   6,092      13,717
215017Title 1 Property Improvement......          51          73          73
215018Title 1 Manufactured Housing......          67         104         104
                                           ---------   ---------  ----------
215901Total loan guarantee levels.......      19,652      17,165      25,350
    Guaranteed loan subsidy (in percent):
232001Apartments NC/SC..................       -0.03       -0.18       -3.63
232002221d3 NP/Coop owned apts..........       10.58        9.74        6.31
232003Tax Credits NC....................       -4.45       -3.54       -2.78
232004Mixed Income (Hope d4)............        0.00        0.00        0.00
232005Apartments Refinance..............       -2.46       -1.84       -4.42
232006241a Supplemental Loans for Apts..        6.22        5.43        3.93
232007Operating Loss Loans for Apts 
        (plus 232)......................       16.45       15.89       16.55
232008HFA Risk Sharing..................       -0.79       -0.67       -0.68
232009GSE Risk Sharing..................       -1.04       -0.83       -0.89
232010FHA Full Insurance for Health Care 
        Facilities (plus 241/232).......       -0.06       -0.76       -4.42
232011Health Care Refinances............       -1.80       -1.26       -3.47
232012Hospitals.........................       -2.02       -1.76       -3.51
232013Other Rental (incl 
        207(mhp),220,231)...............       -0.40       -0.73       -4.29
232014Section 234: Condominiums.........       -0.40       -2.19       -1.49
232015Section 203(k): Rehabilitation 
        Mortgages.......................        0.59       -1.12        0.31
232016Home Equity Conversion Mortgages..        0.00       -1.74       -1.21
232017Title 1 Property Improvement......        1.92        1.79        0.97
232018Title 1 Manufactured Housing......        0.12        1.10        0.83
                                           ---------   ---------  ----------
232901Weighted average subsidy rate.....       -0.85       -1.65       -1.86
    Guaranteed loan subsidy budget authority:
233001Apartments NC/SC..................          -1          -3         -65
233002221d3 NP/Coop owned apts..........                       3           3
233003Tax Credits NC....................         -38         -30         -36
233004Mixed Income (Hope d4)............
233005Apartments Refinance..............         -46         -33         -80

[[Page 563]]

233006241a Supplemental Loans for Apts..
233007Operating Loss Loans for Apts 
        (plus 232)......................                                   1
233008HFA Risk Sharing..................          -1          -1          -1
233009GSE Risk Sharing..................
233010FHA Full Insurance for Health Care 
        Facilities (plus 241/232).......                                  -8
233011Health Care Refinances............         -19         -13         -35
233012Hospitals.........................         -16         -13         -26
233013Other Rental (incl 
        207(mhp),220,231)...............                                  -2
233014Section 234: Condominiums.........         -52         -84         -57
233015Section 203(k): Rehabilitation 
        Mortgages.......................           3          -5           1
233016Home Equity Conversion Mortgages..                    -105        -166
233017Title 1 Property Improvement......           1           1           1
233018Title 1 Manufactured Housing......                       1           1
233022Standby authority.................
                                           ---------   ---------  ----------
233901Total subsidy budget authority....        -169        -282        -469
    Guaranteed loan subsidy outlays:
234001Apartments NC/SC..................          -1          -2         -50
234002221d3 NP/Coop owned apts..........                       2           3
234003Tax Credits NC....................         -33         -32         -35
234004Mixed Income (Hope d4)............
234005Apartments Refinance..............         -45         -36         -68
234006241a Supplemental Loans for Apts..
234007Operating Loss Loans for Apts 
        (plus 232)......................
234008HFA Risk Sharing..................          -2          -1          -1
234009GSE Risk Sharing..................
234010FHA Full Insurance for Health Care 
        Facilities (plus 241/232).......                      -1          -7
234011Health Care Refinances............         -18         -14         -29
234012Hospitals.........................         -35         -14         -23
234013Other Rental (incl 
        207(mhp),220,231)...............                                  -2
234014Section 234: Condominiums.........         -52         -84         -57
234015Section 203(k): Rehabilitation 
        Mortgages.......................           3          -5           1
234016Home Equity Conversion Mortgages..                    -105        -166
234017Title 1 Property Improvement......           1           1           1
234018Title 1 Manufactured Housing......                       1           1
                                           ---------   ---------  ----------
234901Total subsidy outlays.............        -182        -290        -432
    Guaranteed loan upward reestimate subsidy 
                budget authority:
235024General and Special Risk..........         767         478
                                           ---------   ---------  ----------
235901Total upward reestimate budget 
        authority.......................         767         478
    Guaranteed loan downward reestimate subsidy 
                budget authority:
237024General and Special Risk..........        -208        -297
                                           ---------   ---------  ----------
237901Total downward reestimate subsidy 
        budget authority................        -208        -297
----------------------------------------------------------------------------

    Administrative expense data:
351001Budget authority..................         311         300         307
358001Outlays from balances.............          47          18          14
359001Outlays from new authority........         242         285         284
---------------------------------------------------------------------------

    This account includes budget authority for insurance programs 
requiring positive credit subsidies, as well as for salaries and 
expenses and other administrative costs for all General and Special Risk 
Insurance Fund programs.

    As required by the Federal Credit Reform Act of 1990, this account 
records, for the single family, multifamily, hospital, and Title I 
insurance programs of FHA's General Insurance and Special Risk Insurance 
Funds, the subsidy costs associated with the loan guarantees committed 
or direct loans obligated in 1992 and thereafter (including 
modifications of loan guarantees or direct loans that resulted from 
obligations or commitments in any year), as well as administrative 
expenses of these programs. The subsidy amounts are estimated on a 
present value basis; the administrative expenses are accounted for on a 
cash basis.

    The Budget implements a higher guarantee premium for multi-family 
and health care loan guarantees to offset taxpayer costs for loans to 
these developments. Loans for developments using low-income housing tax 
credits will be exempt from this increase. The Budget also proposes a 
consolidation of FHA single-family programs under the Mutual Mortgage 
Insurance fund.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0200-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
25.1  Advisory and assistance services..          67          60          67
25.2  Other services....................          10          11          11
25.3  Other purchases of goods and 
        services from Government 
        accounts........................         226         229         229
41.0  Grants, subsidies, and 
        contributions...................         773         483           7
                                           ---------   ---------  ----------
99.9    Total new obligations...........       1,076         783         314
---------------------------------------------------------------------------

                General and Special Risk Program Account

              (Legislative proposal, not subject to PAYGO)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0200-2-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.02 Guaranteed loan subsidy...........                                  -1
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................                                  -1
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
23.95 Total new obligations.............                                   1
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........                                   1
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                                  -1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..                                  -1
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................
---------------------------------------------------------------------------

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in 
                            millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0200-2-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Guaranteed loan levels supportable by subsidy 
                budget authority:
215014Section 234: Condominiums.........                              -3,842
215015Section 203(k): Rehabilitation 
        Mortgages.......................                                -421
215016Home Equity Conversion Mortgages..                             -13,717
                                           ---------   ---------  ----------
215901Total loan guarantee levels.......                             -17,980
    Guaranteed loan subsidy (in percent):
232014Section 234: Condominiums.........                                1.49
232015Section 203(k): Rehabilitation 
        Mortgages.......................                               -0.31
232016Home Equity Conversion Mortgages..                                1.21
                                           ---------   ---------  ----------
232901Weighted average subsidy rate.....                               -1.52
    Guaranteed loan subsidy budget authority:
233014Section 234: Condominiums.........                                  57
233015Section 203(k): Rehabilitation 
        Mortgages.......................                                  -1
233016Home Equity Conversion Mortgages..                                 166
                                           ---------   ---------  ----------
233901Total subsidy budget authority....                                 222
    Guaranteed loan subsidy outlays:
234014Section 234: Condominiums.........                                  57
234015Section 203(k): Rehabilitation 
        Mortgages.......................                                  -1
234016Home Equity Conversion Mortgages..                                 166
                                           ---------   ---------  ----------
234901Total subsidy outlays.............                                 222
---------------------------------------------------------------------------
                                             -------

                                

     FHA--General and Special Risk Guaranteed Loan Financing Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4077-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Capital investment, claims and other:
      Capital investment, claims and other:

00.01   Default claims..................         883       1,516       1,176
00.02   Interest paid to Treasury.......          93          95          95
00.03   Other capital investments and 
          operating expenses............         199         376         615

[[Page 564]]

00.09   Asset sale positive subsidy 
          payment to the liquidating 
          account.......................           2
00.14   Contract Costs..................           8          20          20
                                           ---------   ---------  ----------
00.91     Direct Program by Activities--
            Subtotal (1 level)..........       1,185       2,007       1,906
08.01   Payment of negative subsidy to 
          receipt account...............         247         294         476
08.02   Downward subsidy rate reestimate         127         203
08.04   Interest on subsidy rate 
          reestimates...................          81          94
                                           ---------   ---------  ----------
08.91     Direct Program by Activities--
            Subtotal (1 level)..........         455         591         476
                                           ---------   ---------  ----------
10.00     Total new obligations.........       1,640       2,598       2,382
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........       1,147       2,497       2,244
22.00 New financing authority (gross)...       3,022       2,445       2,081
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           2
22.60 Portion applied to repay debt.....         -34        -100        -100
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       4,137       4,842       4,225
23.95 Total new obligations.............      -1,640      -2,598      -2,382
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........       2,497       2,244       1,843
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Mandatory:

67.10   Authority to borrow.............         772         500         500
      Spending authority from offsetting 
          collections:

        Mandatory:
69.00     Offsetting collections (cash).       2,385       1,945       1,581
69.10     Change in uncollected customer 
            payments from Federal 
            sources (unexpired).........          45
69.47     Portion applied to repay debt.        -180
                                           ---------   ---------  ----------
69.90       Spending authority from 
              offsetting collections 
              (total mandatory).........       2,250       1,945       1,581
                                           ---------   ---------  ----------
70.00   Total new financing authority 
          (gross).......................       3,022       2,445       2,081
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         285         131        -113
73.10 Total new obligations.............       1,640       2,598       2,382
73.20 Total financing disbursements 
        (gross).........................      -1,747      -2,842      -2,344
73.45 Recoveries of prior year 
        obligations.....................          -2
74.00 Change in uncollected customer 
        payments from Federal sources 
        (unexpired).....................         -45
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         131        -113         -75
87.00 Total financing disbursements 
        (gross).........................       1,747       2,842       2,344
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

        Offsetting collections (cash) 
            from:
88.00     Payments from program account.          -4          -5          -7
88.00     Gross Proceeds from sale of 
            mortgage notes (liquidating)         -80          -6
88.00     Subsidy reestimate from 
            program account.............        -767        -478
88.00     Payment from program account- 
            Asset Sale..................          -2
88.25     Interest on uninvested funds..        -147        -147        -147
88.40     Fees and premiums.............        -612        -664        -729
88.40     Recoveries on defaulted 
            mortgages...................        -153         -23        -105
88.40     Title I recoveries............         -23          -2          -1
88.40     Single family property 
            recoveries..................        -171        -433        -383
88.40     Gross Proceeds from Mortgage 
            Note Sales..................        -393         -86        -107
88.40     Multifamily property 
            recoveries..................          -1          -1          -2
88.40     Non-Federal Resources-other...         -32        -100        -100
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........      -2,385      -1,945      -1,581
      Against gross financing authority only:

88.95   Change in receivables from 
          program accounts..............         -45
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............         592         500         500
90.00 Financing disbursements...........        -637         897         763
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4077-0-3-371   2005 actual\1\   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on commitments:
2111  Limitation on guaranteed loans 
        made by private lenders.........      35,000      35,000      35,000
2142  Uncommitted loan guarantee 
        limitation......................     -15,348     -17,835      -9,650
                                           ---------   ---------  ----------
2150    Total guaranteed loan 
          commitments...................      19,652      17,165      25,350
2199  Guaranteed amount of guaranteed 
        loan commitments................      19,652      17,165      25,350
----------------------------------------------------------------------------

    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........      78,257      81,274      82,955
2231  Disbursements of new guaranteed 
        loans...........................      20,188      14,523      17,874
2251  Repayments and prepayments........     -16,288     -11,307     -11,716
      Adjustments:

2261    Terminations for default that 
          result in loans receivable....        -617      -1,201        -811
2262    Terminations for default that 
          result in acquisition of 
          property......................        -235        -329        -361
2263    Terminations for default that 
          result in claim payments......         -31          -5          -4
                                           ---------   ---------  ----------
2290    Outstanding, end of year........      81,274      82,955      87,937
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..      81,274      82,955      87,937
----------------------------------------------------------------------------

    Addendum:
      Cumulative balance of defaulted guaranteed 
          loans that result in loans receivable:

2310    Outstanding, start of year......         704         655       2,098
2331    Disbursements for guaranteed 
          loan claims...................         709       1,555       1,456
2351    Repayments of loans receivable..        -615        -112        -214
2361    Write-offs of loans receivable..        -143
                                           ---------   ---------  ----------
2390      Outstanding, end of year......         655       2,098       3,340
---------------------------------------------------------------------------

    As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the Government 
resulting from loan guarantees committed in 1992 and thereafter 
(including modifications of loan guarantees that resulted from 
commitments in any year) for FHA's General and Special Risk Insurance 
Fund programs. The amounts in this account are a means of financing and 
are not included in the budget totals. As required by the Federal Credit 
Reform Act of 1990, no administrative expenses can be recorded in the 
financing account.

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4077-0-3-371

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
      Federal assets:

1101

Fund balances with Treasury

1,432

2,628

        Investments in US securities:
1106

Receivables, net

767

228

      Non-Federal assets:

1201

Investments in non-Federal securities, net

4

6

1206

Receivables, net

17

13

      Net value of assets related to 
          post-1991 acquired defaulted 
          guaranteed loans receivable:

1501

Defaulted guaranteed loans receivable, gross

704

655

1502

Interest receivable

73

60

1504

Foreclosed property

394

387

1505

Allowance for subsidy cost

-682

-655





1599

Net value of assets related to defaulted guaranteed loan

489

447

1901

Other Federal assets: Other assets

-12

92





1999

Total assets

2,697

3,414

    LIABILITIES:
      Federal liabilities:

2101

Accounts payable Intragovernmental

208

297

2103

Debt

800

1,310

2105

Other Federal Liabilities

87



      Non-Federal liabilities:

2201

Accounts payable

36

49

2202

Interest payable

12

15

[[Page 565]]

2203

Non Federal Debt

34

48

2204

Liabilities for loan guarantees

1,409

1,564

2207

Other

111

131





2999

Total liabilities

2,697

3,414





4999

Total liabilities and net position

2,697

3,414

-----------------------------------------------------------------------------------------------

     FHA--General and Special Risk Guaranteed Loan Financing Account

              (Legislative proposal, not subject to PAYGO)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4077-2-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Capital investment, claims and other:
      Capital investment, claims and other:

00.01   Default claims..................                                -369
08.01   Payment of negative subsidy to 
          receipt account...............                                -223
                                           ---------   ---------  ----------
10.00     Total new obligations.........                                -592
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New financing authority (gross)...                                -889
23.95 Total new obligations.............                                 592
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........                                -297
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Mandatory:

69.00   Spending authority from 
          offsetting collections 
          (gross): Offsetting 
          collections (cash)............                                -889
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                                -592
73.20 Total financing disbursements 
        (gross).........................                               1,428
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..                                 836
87.00 Total financing disbursements 
        (gross).........................                              -1,428
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

        Offsetting collections (cash) 
            from:
88.00     Payments from program account.                                   1
88.40     Fees and premiums.............                                 497
88.40     Single family property 
            recoveries..................                                 382
88.40     Gross Proceeds from Mortgage 
            Note Sales..................                                   9
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........                                 889
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............
90.00 Financing disbursements...........                                -539
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4077-2-3-371   2005 actual\1\   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on commitments:
2111  Limitation on guaranteed loans 
        made by private lenders.........
2142  Uncommitted loan guarantee 
        limitation......................                             -17,980
                                           ---------   ---------  ----------
2150    Total guaranteed loan 
          commitments...................                             -17,980
2199  Guaranteed amount of guaranteed 
        loan commitments................                             -17,980
----------------------------------------------------------------------------

    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........
2231  Disbursements of new guaranteed 
        loans...........................                              -9,123
2251  Repayments and prepayments........                               3,974
      Adjustments:

2261    Terminations for default that 
          result in loans receivable....                                   3
2262    Terminations for default that 
          result in acquisition of 
          property......................                                 361
2263    Terminations for default that 
          result in claim payments......                                   5
                                           ---------   ---------  ----------
2290    Outstanding, end of year........                              -4,780
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..                              -4,780
----------------------------------------------------------------------------

    Addendum:
      Cumulative balance of defaulted guaranteed 
          loans that result in loans receivable:

2310    Outstanding, start of year......
2331    Disbursements for guaranteed 
          loan claims...................                                -354
2351    Repayments of loans receivable..
2361    Write-offs of loans receivable..
                                           ---------   ---------  ----------
2390      Outstanding, end of year......                                -354
---------------------------------------------------------------------------
                                             -------

                                

       FHA--General and Special Risk Direct Loan Financing Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4105-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Direct loans......................                       3           3
00.02 Interest paid to Treasury.........                       1           1
                                           ---------   ---------  ----------
10.00   Total new obligations...........                       4           4
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New financing authority (gross)...                       4           4
23.95 Total new obligations.............                      -4          -4
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Mandatory:

67.10   Authority to borrow.............                       4           4
      Spending authority from offsetting 
          collections:

        Mandatory:
69.00     Offsetting collections (cash).                       4           4
69.47     Portion applied to repay debt.                      -4          -4
                                           ---------   ---------  ----------
69.90       Spending authority from 
              offsetting collections 
              (total mandatory).........
                                           ---------   ---------  ----------
70.00   Total new financing authority 
          (gross).......................                       4           4
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                       4           4
73.20 Total financing disbursements 
        (gross).........................                      -4          -4
87.00 Total financing disbursements 
        (gross).........................                       4           4
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

        Offsetting collections (cash) 
            from:
88.40     Interest received on loans....                      -1          -1
88.40     Repayment of Principal........                      -3          -3
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........                      -4          -4
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............
90.00 Financing disbursements...........
---------------------------------------------------------------------------

               Status of Direct Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4105-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on obligations:
1111  Limitation on direct loans........          50          50          50
1142  Unobligated direct loan limitation 
        (-).............................         -50         -47         -47
                                           ---------   ---------  ----------
1150    Total direct loan obligations...                       3           3
----------------------------------------------------------------------------

    Cumulative balance of direct loans 
                outstanding:
1210  Outstanding, start of year........           2           2           2
1231  Disbursements: Direct loan 
        disbursements...................                       4           4
1251  Repayments: Repayments and 
        prepayments.....................                      -4          -4
                                           ---------   ---------  ----------
1290    Outstanding, end of year........           2           2           2
---------------------------------------------------------------------------

    As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the Government 
resulting from direct loans obligated in 1992 and thereafter (including 
loan modifications) for FHA's Gen

[[Page 566]]

eral Insurance and Special Risk Insurance Fund programs. The amounts in 
this account are a means of financing and are not included in the budget 
totals. As required by the Federal Credit Reform Act of 1990, no 
administrative expenses can be recorded in the financing account.

    This schedule includes two direct loan programs. One provides bridge 
loan financing to facilitate the disposition of multifamily housing 
owned by the Department to non-profit organizations who agree to 
preserve it as affordable rental or cooperative housing. The second is a 
single-family direct loan program for purchase money mortgages, as 
discussed in the preceding section for the Mutual Mortgage Insurance 
Fund.

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4105-0-3-371

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
      Net value of assets related to 
          post-1991 direct loans 
          receivable:

1401

Direct loans receivable, gross

2







1499

Net present value of assets related to direct loans

2







1999

Total assets

2



    LIABILITIES:
      Federal liabilities:

2103

Treasury borrowing

1



2104

Resources payable to Treasury

1







2999

Total liabilities

2







4999

Total liabilities and net position

2



-----------------------------------------------------------------------------------------------

                                

          FHA--Loan Guarantee Recovery Fund--Financing Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4106-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Default Claims....................           2
                                           ---------   ---------  ----------
10.00   Total new obligations...........           2
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           5           3           3
22.00 New financing authority (gross)...                                   1
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......           5           3           4
23.95 Total new obligations.............          -2
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           3           3           4
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Discretionary:

68.00   Spending authority from 
          offsetting collections 
          (gross): Offsetting 
          collections (cash)............                                   1
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          -1          -1          -2
73.10 Total new obligations.............           2
73.20 Total financing disbursements 
        (gross).........................          -2          -1          -1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          -1          -2          -3
87.00 Total financing disbursements 
        (gross).........................           2           1           1
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

        Offsetting collections (cash) 
            from:
88.25     Interest on uninvested funds..                                  -1
88.40     Non-Federal sources...........                      -1
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........                      -1          -1
      Against gross financing authority only:

88.96   Portion of offsetting 
          collections (cash) credited to 
          expired accounts..............                       1
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............
90.00 Financing disbursements...........           1
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4106-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on commitments:
2111  Limitation on guaranteed loans 
        made by private lenders.........
2121  Limitation available from carry-
        forward.........................           2           2
2143  Uncommitted limitation carried 
        forward.........................          -2
                                           ---------   ---------  ----------
2150    Total guaranteed loan 
          commitments...................                       2
2199  Guaranteed amount of guaranteed 
        loan commitments................                       2
----------------------------------------------------------------------------

    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........           6           4           3
2231  Disbursements of new guaranteed 
        loans...........................                       2
2251  Repayments and prepayments........                      -3          -3
2263  Adjustments: Terminations for 
        default that result in claim 
        payments........................          -2
                                           ---------   ---------  ----------
2290    Outstanding, end of year........           4           3
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..           4           3
---------------------------------------------------------------------------

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4106-0-3-371

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
1101

Federal assets: Fund balances with Treasury

4

3





1999

Total assets

4

3

    LIABILITIES:
2204

Non-Federal liabilities: Liabilities for loan guarantees

4

3





2999

Total liabilities

4

3





4999

Total liabilities and net position

4

3

-----------------------------------------------------------------------------------------------

    Section 4 of the Church Arson Prevention Act of 1996 (P.L. 104-155), 
entitled ``Loan Guarantee Recovery Fund,'' authorizes the Secretary of 
Housing and Urban Development to guarantee loans made by financial 
institutions to assist certain nonprofit organizations that were damaged 
as a result of acts of arson or terrorism. No loans have been made since 
2004.

                                

    FHA--General and Special Risk Insurance Funds Liquidating Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4072-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
      Operating expenses:

00.02   Interest on debentures..........          17          25          25
00.03   Other operating costs...........                       3           3
00.06   PAE & 3rd party restructuring 
          fees..........................          20          36          10
                                           ---------   ---------  ----------
00.91     Total operating expenses......          37          64          38
      Capital investment: Claims and other:

01.01   Acquisition of defaulted Title I 
          notes.........................           1           1           1
01.02   Assignment of mortgages.........         316         273         234
01.03   Debenture Claims................          -6
01.04   Mark-To-Market Restructures.....         199         582          94
01.05   Acquisition of real properties..           7           4           2
01.10   Capitalized Expenses............           2          66          56
01.11   Escrow Advances.................         164         105         100
01.12   Upfront Grants..................          14          30
01.13   Other...........................          19          18          18
01.14   M&M Contract....................           1           3           3

[[Page 567]]

01.16   Payment to the Financing 
          Account-Asset Sale............          80           6
                                           ---------   ---------  ----------
01.91     Total capital investment......         797       1,088         508
                                           ---------   ---------  ----------
10.00   Total new obligations...........         834       1,152         546
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........         137          35
22.00 New budget authority (gross)......         960       1,672         787
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           2
22.40 Capital transfer to general fund..        -137         -35
22.60 Portion applied to repay debt.....         -93        -520        -241
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......         869       1,152         546
23.95 Total new obligations.............        -834      -1,152        -546
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          35
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Mandatory:

60.00   Appropriation...................         462         794         233
67.10   Authority to borrow.............          -9         500         200
      Mandatory:

69.00   Spending authority from 
          offsetting collections: 
          Offsetting collections (cash).         507         378         354
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................         960       1,672         787
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         543         607         811
73.10 Total new obligations.............         834       1,152         546
73.20 Total outlays (gross).............        -768        -948        -865
73.45 Recoveries of prior year 
        obligations.....................          -2
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         607         811         492
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.97 Outlays from new mandatory 
        authority.......................         225         341         133
86.98 Outlays from mandatory balances...         543         607         732
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........         768         948         865
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

        Offsetting collections (cash) 
            from:
88.00     Collections from the Financing 
            Account-Asset Sales.........          -2
88.40     Fees and premiums.............         -75         -68         -63
88.40     Proceeds from sale of real 
            property....................         -22         -39         -37
88.40     Proceeds from sale of mortgage 
            notes.......................        -157        -142        -135
88.40     Foreclosure Sale..............
88.40     Recoveries on defaulted 
            mortgages...................        -187         -61         -51
88.40     Interest, dividends and 
            revenue.....................         -57         -55         -55
88.40     Other collections.............          -7         -13         -13
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........        -507        -378        -354
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         453       1,294         433
90.00 Outlays...........................         261         570         511
----------------------------------------------------------------------------

    Memorandum (non-add) entries:
92.01 Total investments, start of year: 
        Federal securities: Par value...           4           4           6
92.02 Total investments, end of year: 
        Federal securities: Par value...           4           6           6
---------------------------------------------------------------------------

               Status of Direct Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4072-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of direct loans 
                outstanding:
1210  Outstanding, start of year........          20          15          10
1251  Repayments: Repayments and 
        prepayments.....................          -5          -5          -5
                                           ---------   ---------  ----------
1290    Outstanding, end of year........          15          10           5
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4072-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........      12,556       8,457       6,204
2251  Repayments and prepayments........      -3,576      -1,394        -510
      Adjustments:

2261    Terminations for default that 
          result in loans receivable....        -516        -856        -329
2262    Terminations for default that 
          result in acquisition of 
          property......................          -7          -3          -2
                                           ---------   ---------  ----------
2290    Outstanding, end of year........       8,457       6,204       5,363
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..       8,457       6,204       5,363
----------------------------------------------------------------------------

    Addendum:
      Cumulative balance of defaulted guaranteed 
          loans that result in loans receivable:

2310    Outstanding, start of year......       2,773       2,983       3,771
2331    Disbursements for guaranteed 
          loan claims...................         516         856         329
2351    Repayments of loans receivable..        -182         -60         -51
2361    Write-offs of loans 
          receivable\1\.................         -83          -8          -6
2364    Other adjustments, net..........         -41
                                           ---------   ---------  ----------
2390      Outstanding, end of year......       2,983       3,771       4,043
---------------------------------------------------------------------------

    The General Insurance fund provides for a large number of 
specialized mortgage insurance programs, including the in- surance of 
loans for property improvements as well as for cooperatives, 
condominiums, nursing homes, rental housing and nonprofit hospitals.

    The Special Risk Insurance fund provides insurance on behalf of 
mortgagors who otherwise would not be eligible for mortgage insurance. 
In addition, the fund provides insurance on mortgages covering 
experimental housing where strict adherence to State or local building 
regulations was not observed.

    As required by the Federal Credit Reform Act of 1990, this account 
records, for this program, all cash flows to and from the Government 
resulting from loan guarantees committed and direct loans obligated 
prior to 1992. This account is shown on a cash basis. New insurance and 
direct loan activity in 1992 and thereafter in the GI/SRI programs is 
recorded in corresponding program (86-0200) and financing (86-4077 and 
86-4105) accounts.

    Restructuring authorities under the Multifamily Assisted Housing 
Reform and Affordability Act of 1997 expire at the end of fiscal year 
2006 except for binding commitments entered into prior to October 1, 
2006.

    Financial Condition.--The following tables reflect the revenues, 
expenses, and financial condition of the GI/SRI Liquidating Account 
based on Generally Accepted Accounting Principles.

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4072-0-3-371

2004 actual\1\

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
      Federal assets:

1101

Fund balances with Treasury

676

638

        Investments in US securities:
1102

Treasury securities, par

4

4

      Non-Federal assets:

1201

Investments in non-Federal securities, net

3

3

1206

Receivables, net

53

59

      Net value of assets related to 
          pre-1992 direct loans 
          receivable and acquired 
          defaulted guaranteed loans 
          receivable:

1601

Direct loans, gross

20

15





1699

Value of assets related to direct loans

20

15

1701

Defaulted guaranteed loans, gross

2,773

2,983

1702

Interest receivable

137

143

1703

Allowance for estimated uncollectible loans and interest (-)

-914

-851





1704

Defaulted guaranteed loans and interest receivable, net

1,996

2,275

1706

Foreclosed property

1

8





1799

Value of assets related to loan guarantees

1,997

2,283

1901

Other Federal assets: Other assets

145

-12





[[Page 568]]

1999

Total assets

2,898

2,990

    LIABILITIES:
2105

Federal liabilities: Other Liabilities

47

47

      Non-Federal liabilities:

2201

Accounts payable

-8

26

2202

Interest payable

14

14

2203

Debt

149

82

2204

Liabilities for loan guarantees

2,264

1,164

2207

Unearned revenue and advances

321

21





2999

Total liabilities

2,787

1,354

    NET POSITION:
3100

Appropriated capital

1,686

1,683

3300

Cumulative results of operations

-1,575

-47





3999

Total net position

111

1,636





4999

Total liabilities and net position

2,898

2,990

-----------------------------------------------------------------------------------------------
    \1\ Preliminary pending final audit.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4072-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
25.2  Other services....................          40          40          40
32.0  Land and structures...............          23         131         131
33.0  Investments and loans.............         674         931         325
43.0  Interest and dividends............          17          30          30
44.0  Repayments to financing account...          80          20          20
                                           ---------   ---------  ----------
99.9    Total new obligations...........         834       1,152         546
---------------------------------------------------------------------------

                                

     Housing for the Elderly or Handicapped Fund Liquidating Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4115-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.02 Maintenance security and 
        collateral......................           1          15          15
01.01 Operating expenses: Interest on 
        borrowings......................          91          80          80
                                           ---------   ---------  ----------
10.00   Total new obligations...........          92          95          95
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          28           2
22.00 New budget authority (gross)......          94          95          95
22.40 Capital transfer to general fund..         -28          -2
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          94          95          95
23.95 Total new obligations.............         -92         -95         -95
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           2
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Spending authority from offsetting 
          collections:

        Mandatory:
69.00     Offsetting collections (cash).       1,058         800         700
69.47     Portion applied to repay debt.        -964        -705        -605
                                           ---------   ---------  ----------
69.90       Spending authority from 
              offsetting collections 
              (total mandatory).........          94          95          95
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          84          48          48
73.10 Total new obligations.............          92          95          95
73.20 Total outlays (gross).............        -128         -95         -95
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          48          48          48
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.97 Outlays from new mandatory 
        authority.......................          94          95          95
86.98 Outlays from mandatory balances...          34
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........         128          95          95
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

88.40   Offsetting collections (cash) 
          from: Non-Federal sources.....      -1,058        -800        -700
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................        -964        -705        -605
90.00 Outlays...........................        -930        -705        -605
---------------------------------------------------------------------------

               Status of Direct Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4115-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of direct loans 
                outstanding:
1210  Outstanding, start of year........       6,991       6,502       6,102
1231  Disbursements: Direct loan 
        disbursements...................          10
1251  Repayments: Repayments and 
        prepayments.....................        -489        -400        -400
1264  Write-offs for default: Other 
        adjustments, net................         -10
                                           ---------   ---------  ----------
1290    Outstanding, end of year........       6,502       6,102       5,702
---------------------------------------------------------------------------
    Note.--Amounts for direct loan obligations reflect reservations of 
section 202 funds. Loan obligations shown under the program and 
financing schedule reflect loans that have reached the initial closing 
stage of processing.

    The Housing for the Elderly or Handicapped Fund was established 
pursuant to section 202 of the Housing Act of 1959, as amended. The fund 
provided direct loans to nonprofit organizations building and managing 
housing projects for lower income persons who are elderly or disabled.

    Projects included an assured range of necessary services for the 
occupants of such projects. In addition, the section 8 lower income 
housing assistance payments program has been used in conjunction with 
the section 202 program. Applications under the two programs have been 
processed simultaneously.

    The data included in these schedules represent direct loan 
activities funded under the Housing for the Elderly or Handicapped Loan 
Fund. Further, activities in support of the needs of the elderly and 
disabled have been carried out under a grant program funded in the 1991 
Appropriations Act (P.L. 101-507) and authorized in the National 
Affordable Housing Act (P.L. 101-625).

    After April 1, 1992, all projects for which there were 
administrative reservations converted to the capital advance assistance 
program.

    The program and financing schedule for this account summarizes the 
Federal government's obligations for this loan program.

    Financing.--Repayments and interest income from loans continue to be 
available to pay for commitments of the fund.

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4115-0-3-371

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
1101

Federal assets: Fund balances with Treasury

111

51

      Net value of assets related to 
          pre-1992 direct loans 
          receivable and acquired 
          defaulted guaranteed loans 
          receivable:

1601

Direct loans, gross

6,991

6,502

1602

Interest receivable

78

70

1603

Allowance for estimated uncollectible loans and interest (-)

-17

-19





1604

Direct loans and interest receivable, net

7,052

6,553

1606

Acquired Real Property

31

7





1699

Value of assets related to direct loans

7,083

6,560





1999

Total assets

7,194

6,611

    LIABILITIES:
      Federal liabilities:

2102

Interest payable

81

46

2103

Debt

1,203

239

2104

Resources payable to Treasury

4,266



2207

Non-Federal liabilities: Other

18

19





2999

Total liabilities

5,568

304

[[Page 569]]

    NET POSITION:
3100

Unexpended Appropriations

19

18

3300

Revolving Fund: Cumulative results of operations

1,607

6,289





3999

Total net position

1,626

6,307





4999

Total liabilities and net position

7,194

6,611

-----------------------------------------------------------------------------------------------

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4115-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
32.0  Land and structures...............           1          15          15
43.0  Interest and dividends............          91          80          80
                                           ---------   ---------  ----------
99.9    Total new obligations...........          92          95          95
---------------------------------------------------------------------------

                                

                  Manufactured Housing Fees Trust Fund

          Special and Trust Fund Receipts (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-8119-0-7-376      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
01.00 Balance, start of year............
                                           ---------   ---------  ----------
01.99 Balance, start of year............
    Receipts:
02.00 Mobile home inspection and 
        monitoring fees, Manufactured 
        housing fee trust fund..........           9          13          13
    Appropriations:
05.00 Manufactured housing fees trust 
        fund............................          -9         -13         -13
                                           ---------   ---------  ----------
07.99 Balance, end of year..............
---------------------------------------------------------------------------

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-8119-0-7-376      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Transfer to salaries and expenses.           1           2           2
00.02 Other program costs...............           8          11          11
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 25.2)...................           9          13          13
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           3           4           4
22.00 New budget authority (gross)......           9          13          13
23.33 Adjustment for changes in 
        allocation......................           1
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          13          17          17
23.95 Total new obligations.............          -9         -13         -13
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           4           4           4
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.26   Appropriation (trust fund)......           9          13          13
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..           2           1           1
73.10 Total new obligations.............           9          13          13
73.20 Total outlays (gross).............         -10         -13         -13
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..           1           1           1
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................           5          10          10
86.93 Outlays from discretionary 
        balances........................           5           3           3
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........          10          13          13
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................           9          13          13
90.00 Outlays...........................          10          13          13
---------------------------------------------------------------------------

    The National Manufactured Housing Construction and Safety Standards 
Act of 1974, as amended by the Manufactured Housing Improvement Act of 
2000, authorizes development and enforcement of appropriate standards 
for the construction, design, and performance of manufactured homes to 
assure their quality, durability, affordability, and safety. All 
manufactured homes produced since the standards took effect on June 15, 
1976 must comply with Federal construction and safety standards. The 
States are actively encouraged to participate in the program under 
compliance plans approved by HUD. New program requirements mandated by 
the Manufactured Housing Improvement Act of 2000 include procurement of 
an Administering Organization, formation of a Consensus Committee to 
recommend revisions to and interpretations of the manufactured housing 
standards, development and implementation of standards for installation 
of manufactured housing, and development and implementation of a dispute 
resolution program. 

    Fees are charged to the manufacturers for each manufactured home 
transportable section produced and to any dispute resolution and 
installation program participant. These fees will be used to fund the 
costs of all authorized activities necessary for the consensus 
committee, HUD, and its agents to carry out all aspects of the 
manufactured housing legislation. Fees are deposited in a trust fund 
administered by the Department, and a portion of the fee receipts are 
transferred to the salaries and expenses account to defray the direct 
administrative expenses of the program.

    The Manufactured Housing Improvement Act of 2000 created a 
Manufactured Housing Fees Trust Fund and made spending subject to 
appropriations. This account provides spending for activities formerly 
funded under Manufactured Home Inspection and Monitoring.

                                


 
                GOVERNMENT NATIONAL MORTGAGE ASSOCIATION

                              Federal Funds

    The Housing and Urban Development Act of 1968 authorized the 
Government National Mortgage Association (Ginnie Mae) to guarantee the 
timely payment of principal and interest on privately issued securities 
that are backed by pools of FHA, Veterans Affairs (VA) and Rural Housing 
Service mortgages. The Ginnie Mae guarantee gives lenders access to the 
capital markets for funds to originate new loans. New FHA and VA loans 
are currently pooled into Ginnie Mae securities.

    Financing.--Ginnie Mae issuers are assessed commitment, guarantee 
and other fees to cover costs incurred by Ginnie Mae and to fund a 
reserve against possible future payments under the guarantee.

    The Budget proposes discretionary appropriations for all of Ginnie 
Mae's administrative expenses. By bringing these growing costs under the 
full purview of the appropriators and eliminating Ginnie Mae's mandatory 
spending authority, this proposal treats Ginnie Mae's administrative 
expenses like those of other HUD programs. The Budget also proposes to 
charge Ginnie Mae issuers an upfront fee to offset the administrative 
expenses of the program. For 2007, the upfront fee assessed on new 
guarantees of mortgage-backed securities would be slightly over 6 basis 
points (6 cents for every $100 of mortgages). The fee level would vary 
in future years with changes in the estimated administrative expenses 
and estimated volume of new guarantees of mortgage-backed securities.

Credit accounts:

 Guarantees of Mortgage-Backed Securities Loan Guarantee Program Account

                      (including transfer of funds)

    New commitments to issue guarantees to carry out the purposes of 
section 306 of the National Housing Act, as amended (12 U.S.C. 1721(g)), 
shall not exceed [$200,000,000,000] $100,000,000,000, to remain 
available until September 30, [2007] 2008.

[[Page 570]]

    For administrative expenses necessary to carry out the guaranteed 
mortgage-backed securities program, [$10,700,000] $54,000,000, to be 
derived from the GNMA guarantees of mortgage-backed securities 
guaranteed loan receipt account, of which not to exceed [$10,700,000] 
$10,593,000, shall be transferred to the appropriation for ``Salaries 
and Expenses'': Provided, That to the extent new guarantees of mortgage-
backed securities exceed $43,000,000,000 on or before April 1, 2007, an 
additional $1,000 for administrative contract expenses shall be 
available for each $1,000,000 in additional guaranteed loan commitments 
(including a pro rata amount for any amount below $1,000,000), but in no 
case shall funds made available by this proviso exceed $14,000,000. 
(Department of Housing and Urban Development Appropriations Act, 2006.)

          Special and Trust Fund Receipts (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0186-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
01.00 Balance, start of year............       2,478       2,685       2,879
                                           ---------   ---------  ----------
01.99 Balance, start of year............       2,478       2,685       2,879
    Receipts:
02.20 GNMA-guarantees of mortgage backed 
        securities guarantee loans, 
        Negative subsidies..............         218         205         181
02.21 GNMA-guarantees of mortgage backed 
        securities guarantee loans, 
        Negative subsidies--legislative 
        proposal not subject to PAYGO...                                  54
                                           ---------   ---------  ----------
02.99   Total receipts and collections..         218         205         235
                                           ---------   ---------  ----------
04.00 Total: Balances and collections...       2,696       2,890       3,114
    Appropriations:
05.00 Guarantees of mortgage-backed 
        securities loan guarantee 
        program account.................         -11         -11         -11
05.01 Guarantees of mortgage-backed 
        securities loan guarantee 
        program account--legislative 
        proposal not subject to PAYGO...                                 -43
                                           ---------   ---------  ----------
05.99   Total appropriations............         -11         -11         -54
                                           ---------   ---------  ----------
07.99 Balance, end of year..............       2,685       2,879       3,060
---------------------------------------------------------------------------

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0186-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.09 Administrative expenses, salaries 
        and expenses....................          11          11          11
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 25.3)...................          11          11          11
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......          11          11          11
23.95 Total new obligations.............         -11         -11         -11
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.20   Appropriation (special fund)....          11          11          11
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............          11          11          11
73.20 Total outlays (gross).............         -11         -11         -11
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................          11          11          11
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................          11          11          11
90.00 Outlays...........................          11          11          11
---------------------------------------------------------------------------

                 Summary of Budget Authority and Outlays

                        (in millions of dollars)

                                     2005 actual  2006 est.   2007 est.
Enacted/requested:
  Budget Authority............             11             11              11
  Outlays.....................             11             11              11
Legislative proposal, not subject to 
    PAYGO:
  Budget Authority............                                            43
  Outlays.....................                                            43
                                    ------------------------------------
Total:
  Budget Authority............             11             11              54
  Outlays.....................             11             11              54
                                    ====================================

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in 
                            millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0186-0-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Guaranteed loan levels supportable by subsidy 
                budget authority:
215001Ginnie Mae mortgage-backed 
        securities......................     112,519      89,000      86,000
                                           ---------   ---------  ----------
215901Total loan guarantee levels.......     112,519      89,000      86,000
    Guaranteed loan subsidy (in percent):
232001Ginnie Mae mortgage-backed 
        securities......................       -0.23       -0.23       -0.21
                                           ---------   ---------  ----------
232901Weighted average subsidy rate.....       -0.23       -0.23       -0.21
    Guaranteed loan subsidy budget authority:
233001Ginnie Mae mortgage-backed 
        securities......................        -218        -205        -181
                                           ---------   ---------  ----------
233901Total subsidy budget authority....        -218        -205        -181
    Guaranteed loan subsidy outlays:
234001Ginnie Mae mortgage-backed 
        securities......................        -218        -205        -181
234002Standby commitment authority......
                                           ---------   ---------  ----------
234901Total subsidy outlays.............        -218        -205        -181
----------------------------------------------------------------------------

    Administrative expense data:
351001Budget authority..................          11          11          11
359001Outlays from new authority........          11          11          11
---------------------------------------------------------------------------

    As required by the Federal Credit Reform Act of 1990, this account 
records the administrative expenses of this program. The administrative 
expenses are estimated on a cash basis.

 Guarantees of Mortgage-Backed Securities Loan Guarantee Program Account

              (Legislative proposal, not subject to PAYGO)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0186-2-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.09 Administrative expenses, salaries 
        and expenses....................                                  43
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 25.2)...................                                  43
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......                                  43
23.95 Total new obligations.............                                 -43
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.20   Appropriation (special fund)....                                  43
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                                  43
73.20 Total outlays (gross).............                                 -43
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................                                  43
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................                                  43
90.00 Outlays...........................                                  43
---------------------------------------------------------------------------

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in 
                            millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0186-2-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Guaranteed loan levels supportable by subsidy 
                budget authority:
215001Ginnie Mae mortgage-backed 
        securities......................
                                           ---------   ---------  ----------
215901Total loan guarantee levels.......
    Guaranteed loan subsidy (in percent):
232001Ginnie Mae mortgage-backed 
        securities......................                               -0.06
                                           ---------   ---------  ----------

[[Page 571]]


232901Appropriation [S&E]...............                               -0.06
    Guaranteed loan subsidy budget authority:
233001Ginnie Mae mortgage-backed 
        securities......................                                 -54
                                           ---------   ---------  ----------
233901Total subsidy budget authority....                                 -54
    Guaranteed loan subsidy outlays:
234001Ginnie Mae mortgage-backed 
        securities......................                                 -54
234002Standby commitment authority......
                                           ---------   ---------  ----------
234901Total subsidy outlays.............                                 -54
----------------------------------------------------------------------------

    Administrative expense data:
351001Budget authority..................                                  43
359001Outlays from new authority........                                  43
---------------------------------------------------------------------------

                                

       Guarantees of Mortgage-Backed Securities Financing Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4240-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.03 Advances and other................          39          49          59
00.04 Operating expenses................          19          27          28
                                           ---------   ---------  ----------
00.91   Direct Program by Activities--
          Subtotal (1 level)............          58          76          87
08.01 Payment to receipt account for 
        negative subsidy................         219         205         181
08.02 Deduction for prior year's 
        overpayment to receipt account..                     -11
                                           ---------   ---------  ----------
08.91   Direct Program by Activities--
          Subtotal (1 level)............         219         194         181
                                           ---------   ---------  ----------
10.00   Total new obligations...........         277         270         268
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........         810         965       1,098
22.00 New financing authority (gross)...         432         403         405
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       1,242       1,368       1,503
23.95 Total new obligations.............        -277        -270        -268
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........         965       1,098       1,235
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Mandatory:

69.00   Spending authority from 
          offsetting collections 
          (gross): Offsetting 
          collections (cash)............         432         403         405
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          58          51          62
73.10 Total new obligations.............         277         270         268
73.20 Total financing disbursements 
        (gross).........................        -284        -259        -262
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          51          62          68
87.00 Total financing disbursements 
        (gross).........................         284         259         262
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

        Offsetting collections (cash) 
            from:
88.25     Interest on uninvested funds..         -49         -55         -62
88.40     Guarantee Fees................        -285        -246        -233
88.40     Commitment and other fees.....         -31         -24         -28
88.40     Multiclass fees...............         -21         -22         -23
88.40     Repayment of advances.........         -32         -42         -43
88.40     Servicing Fees................          -2          -2          -4
88.40     Repayment on Mortgages........         -12         -12         -12
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........        -432        -403        -405
----------------------------------------------------------------------------

    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............
90.00 Financing disbursements...........        -149        -144        -143
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4240-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Position with respect to appropriations act 
                limitation on commitments:
2111  Limitation on guaranteed loans 
        made by private lenders.........     200,000     200,000     100,000
2121  Limitation available from carry-
        forward.........................      90,986     178,467     200,000
2143  Uncommitted limitation carried 
        forward.........................    -178,467    -200,000    -100,000
                                           ---------   ---------  ----------
2150    Total guaranteed loan 
          commitments...................     112,519     178,467     200,000
2199  Guaranteed amount of guaranteed 
        loan commitments................     112,519     178,467     200,000
----------------------------------------------------------------------------

    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........     453,163     412,304     395,247
2231  Disbursements of new guaranteed 
        loans...........................      90,286      89,000      86,000
2251  Repayments and prepayments........    -131,145    -106,057     -76,100
                                           ---------   ---------  ----------
2290    Outstanding, end of year........     412,304     395,247     405,147
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of year..     412,304     395,247     405,147
---------------------------------------------------------------------------

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4240-0-3-371

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
1101

Federal assets: Fund balances with Treasury

868

1,016

1206

Non-Federal assets: Receivables, net

25

29

      Net value of assets related to 
          pre-1992 direct loans 
          receivable and acquired 
          defaulted guaranteed loans 
          receivable:

1601

Direct loans, gross

40

37

1603

Allowance for estimated uncollectible loans and interest (-)

-7

-8





1699

Value of assets related to direct loans

33

29

1803

Other Federal assets: Property, plant and equipment, net

385

382





1999

Total assets

1,311

1,456

    LIABILITIES:
      Non-Federal liabilities:

2201

Accounts payable

82

92

2207

Other

398

382





2999

Total liabilities

480

474

    NET POSITION:
3300

Cumulative results of operations

831

982





3999

Total net position

831

982





4999

Total liabilities and net position

1,311

1,456

-----------------------------------------------------------------------------------------------
    Note.--Ginnie Mae guarantees the timely payment of principal and 
interest installments on securities which are backed by FHA-insured, 
Rural Housing Service-insured, and VA-guaranteed mortgages. Such 
guarantees are excluded from the Government total of guaranteed 
obligations duplicating FHA, Rural Housing Service, and VA guarantees.

       Guarantees of Mortgage-Backed Securities Financing Account

              (Legislative proposal, not subject to PAYGO)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4240-2-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
08.01 Payment to receipt account for 
        negative subsidy................                                  54
                                           ---------   ---------  ----------
10.00   Total new obligations...........                                  54
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New financing authority (gross)...                                  54
23.95 Total new obligations.............                                 -54
----------------------------------------------------------------------------

    New financing authority (gross), detail:
      Mandatory:

69.00   Spending authority from 
          offsetting collections 
          (gross): Offsetting 
          collections (cash)............                                  54
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                                  54
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..                                  54
87.00 Total financing disbursements 
        (gross).........................
----------------------------------------------------------------------------

    Offsets:
      Against gross financing authority and 
          financing disbursements:

88.40   Offsetting collections (cash) 
          from: Upfront fees............                                 -54
----------------------------------------------------------------------------

[[Page 572]]



    Net financing authority and financing 
        disbursements:
89.00 Financing authority...............
90.00 Financing disbursements...........                                 -54
---------------------------------------------------------------------------

                                

      Guarantees of Mortgage-Backed Securities Liquidating Account

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4238-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Administrative contract expenses..          43          57          43
      Operating expenses:

00.03   Servicing expenses..............           2           3           4
                                           ---------   ---------  ----------
00.91     Total operating expenses......          45          60          47
      Capital investment:

01.01   Advances of guaranty payments...           6          45          45
                                           ---------   ---------  ----------
10.00   Total new obligations...........          51         105          92
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........       7,543       7,918       8,306
22.00 New budget authority (gross)......         426         493         481
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......       7,969       8,411       8,787
23.95 Total new obligations.............         -51        -105         -92
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........       7,918       8,306       8,695
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Mandatory:

60.00   Appropriation...................                      57          43
      Mandatory:

69.00   Spending authority from 
          offsetting collections: 
          Offsetting collections (cash).         426         436         438
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................         426         493         481
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of 
        year\1\.........................         -22          -8        -104
73.10 Total new obligations.............          51         105          92
73.20 Total outlays (gross).............         -37        -201        -146
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          -8        -104        -158
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.97 Outlays from new mandatory 
        authority.......................          37         114          86
86.98 Outlays from mandatory balances...                      87          60
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........          37         201         146
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

        Offsetting collections (cash) 
            from:
88.20     Interest on Federal securities        -408        -420        -427
88.40     Repayments of guaranteed 
            payments....................         -13         -12          -8
88.40     Servicing income..............          -2          -2          -1
88.40     Repayments on mortgages.......          -3          -2          -2
                                           ---------   ---------  ----------
88.90       Total, offsetting 
              collections (cash)........        -426        -436        -438
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................                      57          43
90.00 Outlays...........................        -390        -235        -292
----------------------------------------------------------------------------

    Memorandum (non-add) entries:
92.01 Total investments, start of year: 
        Federal securities: Par value...       7,562       7,949       8,267
92.02 Total investments, end of year: 
        Federal securities: Par value...       7,949       8,267       8,597
---------------------------------------------------------------------------
    \1\ This line nets unpaid obligations and offsetting collections 
from new Federal sources.

                 Summary of Budget Authority and Outlays

                        (in millions of dollars)

                                     2005 actual  2006 est.   2007 est.
Enacted/requested:
  Budget Authority............                            57              43
  Outlays.....................           -389           -235            -292
Legislative proposal, not subject to 
    PAYGO:
  Budget Authority............                                           -43
  Outlays.....................                                           -43
                                    ------------------------------------
Total:
  Budget Authority............                            57
  Outlays.....................           -389           -235            -335
                                    ====================================

               Status of Direct Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4238-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of direct loans 
                outstanding:
1210  Outstanding, start of year........          12          10          11
1232  Disbursements: Purchase of loans 
        assets from the public..........           6          45          45
1252  Repayments: Proceeds from loan 
        asset sales to the public or 
        discounted......................          -8          -8          -8
1263  Write-offs for default: Direct 
        loans...........................                     -36         -27
                                           ---------   ---------  ----------
1290    Outstanding, end of year........          10          11          21
---------------------------------------------------------------------------

             Status of Guaranteed Loans (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4238-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Cumulative balance of guaranteed loans 
                outstanding:
2210  Outstanding, start of year........          96          82          67
2251  Repayments and prepayments........         -14         -15         -15
                                           ---------   ---------  ----------
2290    Outstanding, end of year........          82          67          52
----------------------------------------------------------------------------

    Memorandum:
2299  Guaranteed amount of guaranteed 
        loans outstanding, end of 
        year\1\.........................          82          67          52
---------------------------------------------------------------------------

                             Balance Sheet (in millions of dollars)

-----------------------------------------------------------------------------------------------
Identification code   86-4238-0-3-371

2004 actual

2005 actual

-----------------------------------------------------------------------------------------------
    ASSETS:
      Federal assets:

        Investments in US securities:
1102

Treasury securities, par

7,540

7,921

1106

Receivables, net

63

50

1206

Non-Federal assets: Receivables, net

7

11

      Net value of assets related to 
          pre-1992 direct loans 
          receivable and acquired 
          defaulted guaranteed loans 
          receivable:

1601

Direct loans, gross

12

10

1603

Allowance for estimated uncollectible loans and interest (-)

-9

-9





1699

Value of assets related to direct loans

3

1





1999

Total assets

7,613

7,983

    LIABILITIES:
      Non-Federal liabilities:

2201

Accounts payable

38

42

2207

Other

505

509





2999

Total liabilities

543

551

    NET POSITION:
3300

Cumulative results of operations

7,070

7,432





3999

Total net position

7,070

7,432





4999

Total liabilities and net position

7,613

7,983

-----------------------------------------------------------------------------------------------

    Note.--Ginnie Mae guarantees the timely payment of principal and 
interest installments on securities which are backed by FHA-insured, 
Rural Housing Service, and VA-guaranteed mortgages. Such guarantees are 
excluded from the Government total of guaranteed obligations duplicating 
FHA, Rural Housing Service, and VA guarantees.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4238-0-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
25.2  Other services....................          45          60          47

[[Page 573]]

33.0  Investments and loans.............           6          45          45
                                           ---------   ---------  ----------
99.9    Total new obligations...........          51         105          92
---------------------------------------------------------------------------

      Guarantees of Mortgage-Backed Securities Liquidating Account

              (Legislative proposal, not subject to PAYGO)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4238-2-3-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Administrative contract expenses..                                 -43
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 25.2)...................                                 -43
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......                                 -43
23.95 Total new obligations.............                                  43
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................                                 -43
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                                 -43
73.20 Total outlays (gross).............                                  43
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................                                 -43
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................                                 -43
90.00 Outlays...........................                                 -43
---------------------------------------------------------------------------

                                


 
                     POLICY DEVELOPMENT AND RESEARCH

                              Federal Funds

General and special funds:

                         Research and Technology

    For contracts, grants, and necessary expenses of programs of 
research and studies relating to housing and urban problems, not 
otherwise provided for, as authorized by title V of the Housing and 
Urban Development Act of 1970, as amended (12 U.S.C. 1701z-1 et seq.), 
including carrying out the functions of the Secretary under section 
1(a)(1)(i) of Reorganization Plan No. 2 of 1968, [$56,350,000] 
$68,360,000, to remain available until September 30, [2007] 2008: 
Provided, [That of the total amount provided under this heading, 
$5,000,000 shall be for the Partnership for Advancing Technology in 
Housing (PATH) Initiative: Provided further, That of the amounts made 
available for PATH under this heading, $2,500,000 shall not be subject 
to the requirements of section 305 of this title: Provided further, That 
the Office of Housing shall administer PATH: Provided further, That of 
funds made available under this heading, $750,000 shall be transferred 
to the National Research Council for a study in accordance with the 
statement of the managers accompanying this Act: Provided further,] That 
of the funds made available under this heading, [$20,600,000] 
$28,710,000 is for grants pursuant to section 107 of the Housing and 
Community Development Act of 1974, as amended, as follows: [$3,000,000] 
$2,970,000 to support Alaska Native serving institutions and Native 
Hawaiian serving institutions as defined under the Higher Education Act, 
as amended; [$2,600,000] $2,574,000 for tribal colleges and universities 
to build, expand, renovate, and equip their facilities and to expand the 
role of the colleges into the community through the provision of needed 
services such as health programs, job training and economic development 
activities; [$9,000,000] $8,910,000 for the Historically Black Colleges 
and Universities program, of which up to [$2,000,000] $990,000 may be 
used for technical assistance; [and $6,000,000] $5,940,000 for the 
Hispanic Serving Institutions Program; $5,940,000 for the Community 
Outreach Partnership Center Program; and $2,376,000 for the Community 
Development Work Study Program: Provided further, That activities for 
the Partnership for Advancing Technology in Housing Initiative shall be 
administered by the Office of Policy Development and Research. 
(Department of Housing and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0108-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Housing Research..................          37          33          39
00.02 PATH..............................           9           6
00.03 University Programs...............                      20          29
                                           ---------   ---------  ----------
10.00   Total new obligations...........          46          59          68
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           5           4
22.00 New budget authority (gross)......          45          55          68
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          50          59          68
23.95 Total new obligations.............         -46         -59         -68
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........           4
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................          46          56          68
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -1
40.35   Appropriation permanently 
          reduced.......................          -1
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............          45          55          68
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          36          34          44
73.10 Total new obligations.............          46          59          68
73.20 Total outlays (gross).............         -47         -49         -62
73.40 Adjustments in expired accounts 
        (net)...........................          -1
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          34          44          50
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................          24          22          28
86.93 Outlays from discretionary 
        balances........................          23          27          34
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........          47          49          62
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................          45          55          68
90.00 Outlays...........................          47          49          62
---------------------------------------------------------------------------

    The Housing and Urban Development Act of 1970 directs the Secretary 
to undertake programs of research, studies, testing, and demonstrations 
related to the HUD mission. These functions are carried out internally 
and through con- tracts with industry, nonprofit research organizations, 
and educational institutions, and through agreements with State and 
local governments and other Federal agencies.

    In 2007, the research program includes funds for program evaluations 
and for work related to the removal of barriers to affordable housing. 
National housing surveys will continue in 2007. Set-aside funds are not 
requested for the Partnership for Advancing Technology (PATH) program in 
2007, but PATH will remain an eligible activity under the Research and 
Technology account and will be administered by the Office of Policy 
Development and Research. Research and evaluation activities will 
support the Department in carrying out its responsibilities under the 
Government Performance and Results Act.

    As in 2006 the University Partnership Program grants will be funded 
from the Research and Technology account. These grants, pursuant to 
Section 107 of the Housing and Community Development Act of 1974, were 
funded prior to 2006 under the Community Development Block Grant 
account. These programs were and will continue to be administered by the 
Office of Policy Development and Research. The University Partnership 
Programs provide grants to colleges and universities to assist 
institutions of higher education in forming partnerships with the 
communities in which they are

[[Page 574]]

located to undertake a range of activities that foster and achieve 
neighborhood development and revitalization. Funds also support a work 
study program for disadvantaged and minority students in graduate level 
community building curricula. The University Partnership Programs 
include the following: Alaska Native and Native Hawaiian Serving 
Institutions program, Tribal Colleges and University program, 
Historically Black Colleges and Universities program, Community Outreach 
Partnerships program, Hispanic Serving Institutions program and the 
Community Development Work Study Program.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0108-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
25.2  Other services....................          43          36          37
41.0  Grants, subsidies, and 
        contributions...................           3          23          31
                                           ---------   ---------  ----------
99.9    Total new obligations...........          46          59          68
---------------------------------------------------------------------------

                                


 
                   FAIR HOUSING AND EQUAL OPPORTUNITY

                              Federal Funds

General and special funds:

                         Fair Housing Activities

    For contracts, grants, and other assistance, not otherwise provided 
for, as authorized by title VIII of the Civil Rights Act of 1968, as 
amended by the Fair Housing Amendments Act of 1988, and section 561 of 
the Housing and Community Development Act of 1987, as amended, 
[$46,000,000] $44,550,000, to remain available until September 30, 
[2007] 2008, of which [$20,000,000] $19,800,000 shall be to carry out 
activities pursuant to such section 561: Provided, That notwithstanding 
31 U.S.C. 3302, the Secretary may assess and collect fees to cover the 
costs of the Fair Housing Training Academy, and may use such funds to 
provide such training: Provided further, That no funds made available 
under this heading shall be used to lobby the executive or legislative 
branches of the Federal Government in connection with a specific 
contract, grant or loan. (Department of Housing and Urban Development 
Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0144-0-1-751      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Fair housing assistance...........          24          25          26
00.02 Fair housing initiatives..........          21          22          22
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................          45          47          48
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........           8          10           9
22.00 New budget authority (gross)......          46          46          45
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................           2
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......          56          56          54
23.95 Total new obligations.............         -45         -47         -48
23.98 Unobligated balance expiring or 
        withdrawn.......................          -1
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          10           9           6
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................          47          46          45
40.35   Appropriation permanently 
          reduced.......................          -1
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............          46          46          45
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          65          61          62
73.10 Total new obligations.............          45          47          48
73.20 Total outlays (gross).............         -47         -46         -46
73.45 Recoveries of prior year 
        obligations.....................          -2
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          61          62          64
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................           1           3           3
86.93 Outlays from discretionary 
        balances........................          46          43          43
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........          47          46          46
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................          46          46          45
90.00 Outlays...........................          47          46          46
---------------------------------------------------------------------------

    The Budget proposes an appropriation of $44.5 million in 2007 to 
fund fair housing activities that support efforts to end housing 
discrimination. Of the amount requested, $24.75 million is for the Fair 
Housing Assistance Program and $19.8 million is for the Fair Housing 
Initiatives Program.

    The Fair Housing Assistance Program (FHAP), authorized by title VIII 
of the Civil Rights Act of 1968 as amended, provides funding to State 
and local agencies to assure prompt and effective processing of Title 
VIII (Civil Rights Act of 1968) complaints.

    The funding requested for FHAP will support fair housing enforcement 
by increasing funding to support additional State and local fair housing 
organizations to meet the needs of currently underserved populations. It 
will also address the persistent high rate of discrimination against 
minorities as identified by the 2000 Housing Discrimination Study. It is 
estimated that the number of new State and local agencies with laws 
equivalent to the Fair Housing Act will increase to 108 in 2007 from 106 
in 2006.

    The Fair Housing Initiatives Program (FHIP), authorized by the 
Housing and Community Development Act of 1987, as amended by the Housing 
and Community Development Act of 1992, provides support to public and 
private organizations for the purpose of eliminating or preventing 
discrimination in housing and for enhancing fair housing opportunities. 
FHIP provides funding for projects that inform and educate the public, 
including housing providers, on the rights and obligations of the Fair 
Housing Act and about substantially equivalent state and local fair 
housing laws.

                                


 
                      OFFICE OF LEAD HAZARD CONTROL

                              Federal Funds

General and special funds:

                          Lead Hazard Reduction

    For the Lead Hazard Reduction Program, as authorized by section 1011 
of the Residential Lead-Based Paint Hazard Reduction Act of 1992, 
[$152,000,000] $114,840,000, to remain available until September 30, 
[2007] 2008, of which [$9,500,000] $8,712,000 shall be for the Healthy 
Homes Initiative, pursuant to sections 501 and 502 of the Housing and 
Urban Development Act of 1970 that shall include research, studies, 
testing, and demonstration efforts, including education and outreach 
concerning lead-based paint poisoning and other housing-related diseases 
and hazards: Provided, That for purposes of environmental review, 
pursuant to the National Environmental Policy Act of 1969 (42 U.S.C. 
4321 et seq.) and other provisions of law that further the purposes of 
such Act, a grant under the Healthy Homes Initiative, Operation Lead 
Elimination Action Plan (LEAP), or the Lead Technical Studies program 
under this heading or under prior appropriations Acts for such purposes 
under this heading, shall be considered to be funds for a special 
project for purposes of section 305(c) of the Multifamily Housing 
Property Disposition Reform Act of 1994[: Provided further, That of the 
total amount made available under this heading, $48,000,000 shall be 
made available on a competitive basis for areas with the highest lead 
paint abatement needs, as identified by the Secretary as having: (1) the 
highest number of occupied pre-1940 units of rental housing; and (2) a 
disproportionately high number of documented cases of lead-poisoned 
children: Provided further, That each grantee receiving funds under the 
previous proviso shall target those privately owned units and 
multifamily buildings that are occupied by low-income fami

[[Page 575]]

lies as defined under section 3(b)(2) of the United States Housing Act 
of 1937: Provided further, That not less than 90 percent of the funds 
made available under this paragraph shall be used exclusively for 
abatement, inspections, risk assessments, temporary relocations and 
interim control of lead-based hazards as defined by 42 U.S.C. 4851: 
Provided further, That each recipient of funds provided under the first 
proviso shall make a matching contribution in an amount not less than 25 
percent: Provided further, That each applicant shall submit a detailed 
plan and strategy that demonstrates adequate capacity that is acceptable 
to the Secretary to carry out the proposed use of funds pursuant to a 
Notice of Funding Availability]. (Department of Housing and Urban 
Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0174-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Lead abatement....................          29         211         165
                                           ---------   ---------  ----------
10.00   Total new obligations (object 
          class 41.0)...................          29         211         165
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          10         159          98
22.00 New budget authority (gross)......         167         150         115
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................          12
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......         189         309         213
23.95 Total new obligations.............         -29        -211        -165
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........         159          98          48
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................         168         152         115
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -2
40.35   Appropriation permanently 
          reduced.......................          -1
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............         167         150         115
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         429         313         385
73.10 Total new obligations.............          29         211         165
73.20 Total outlays (gross).............        -133        -139        -150
73.40 Adjustments in expired accounts 
        (net)...........................          -1
73.45 Recoveries of prior year 
        obligations.....................         -12
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         313         385         400
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................                       3           2
86.93 Outlays from discretionary 
        balances........................         133         136         148
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........         133         139         150
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         167         150         115
90.00 Outlays...........................         133         139         150
---------------------------------------------------------------------------

    Title X of the Housing and Community Development Act of 1992 (Public 
Law 102-550), known as the Residential Lead-Based Paint Hazard Reduction 
Act, authorized the Secretary to establish the Lead-Based Paint Hazard 
Control Grant Program. The primary purpose of the program is to reduce 
the exposure of young children to lead-based paint hazards in their 
homes.

    The program is a major part of a 10-year strategy to eliminate lead 
poisoning in children. The 2007 Budget includes $91.67 million for HUD's 
Lead Hazard Control Program competitive grants and $8.71 million for 
operation LEAP. The Technical Support Program is funded at $5.74 million 
and the Healthy Homes Initiative is funded at $8.71 million. Operation 
LEAP funds will be used to leverage other private and public sector 
resources for the lead hazard control program.

    The Lead Hazard Control Grant Program provides grants of $1 million 
to $2.5 million to State and local governments and Indian tribes for 
control of lead-based paint hazards in privately owned, low-income 
owner-occupied and rental housing. The grants are also designed to 
stimulate the development of a housing maintenance and rehabilitation 
workforce trained in lead-safe work practices and a certified hazard 
evaluation and control industry. In awarding grants, HUD promotes the 
use of new, low cost approaches to hazard control that can be replicated 
across the nation.

    The Healthy Homes Initiative will enable the Department to assess 
and control housing-related hazards that contribute to childhood 
diseases and injuries. The initiative will demonstrate and evaluate 
methods for controlling two or more housing related diseases through a 
single intervention. A public education/outreach effort, that enables 
the public to act effectively to protect their children from exposure to 
hazards, will also be conducted.

    The Office of Healthy Homes and Lead Hazard Control will continue 
its Technical Support program, which will include public education; 
technical assistance for State and local agencies, private property 
owners, HUD programs and field offices and professional organizations; 
quality control to ensure that the evaluation and control of lead-based 
paint hazards is done properly in HUD-assisted housing; and development 
of standards, technical guidance, regulations and improved testing and 
hazard control methods.

                                


 
                      MANAGEMENT AND ADMINISTRATION

                              Federal Funds

General and special funds:

                          Salaries and Expenses

                      (including transfer of funds)

    For necessary administrative and non-administrative expenses of the 
Department of Housing and Urban Development, not otherwise provided for, 
including purchase of uniforms, or allowances therefore, as authorized 
by 5 U.S.C. 5901-5902; hire of passenger motor vehicles; services as 
authorized by 5 U.S.C. 3109; and not to exceed $25,000 for official 
reception and representation expenses, [$1,153,285,000] $1,161,800,000, 
of which [$562,400,000] $556,776,000 shall be provided from the various 
funds of the Federal Housing Administration, [$10,700,000] $10,593,000 
shall be provided from funds of the Government National Mortgage 
Association, [$750,000 shall be from the ``community development loan 
guarantee program'' account, $150,000] $148,500 shall be provided by 
transfer from the ``Native American housing block grants'' account, 
[$250,000] $247,500 shall be provided by transfer from the ``Indian 
housing loan guarantee fund program'' account and $35,000 shall be 
transferred from the ``Native Hawaiian housing loan guarantee fund'' 
account: Provided, That [funds made available under this heading shall 
only be allocated in the manner specified in the statement of the 
managers accompanying this Act unless the Committees on Appropriations 
of both the House of Representatives and the Senate are notified of any 
changes in an operating plan or reprogramming: Provided further, That] 
no official or employee of the Department shall be designated as an 
allotment holder unless the Office of the Chief Financial Officer (OCFO) 
has determined that such allotment holder has implemented an adequate 
system of funds control and has received training in funds control 
procedures and directives: Provided further, That the Chief Financial 
Officer shall establish positive control of and maintain adequate 
systems of accounting for appropriations and other available funds as 
required by 31 U.S.C. 1514: Provided further, That for purposes of funds 
control and determining whether a violation exists under the Anti-
Deficiency Act (31 U.S.C. 1341 et seq.), the point of obligation shall 
be the executed agreement or contract, except with respect to insurance 
and guarantee programs, certain types of salaries and expenses funding, 
and incremental funding that is authorized under an executed agreement 
or contract, and shall be designated in the approved funds control plan: 
Provided further, That the Chief Financial Officer shall: (1) appoint 
qualified personnel to conduct investigations of potential or actual 
violations; (2) establish minimum training requirements and other 
qualifications for personnel that may be appointed to conduct 
investigations; (3) establish guidelines and timeframes for the conduct 
and completion of investigations; (4) prescribe the content, format and 
other requirements for the submission of final reports on violations; 
and (5) prescribe such additional policies and procedures as may be 
required

[[Page 576]]

for conducting investigations of, and administering, processing, and 
reporting on, potential and actual violations of the Anti-Deficiency Act 
and all other statutes and regulations governing the obligation and 
expenditure of funds made available in this or any other Act[: Provided 
further, That up to $15,000,000 may be transferred to the Working 
Capital Fund: Provided further, That the Secretary shall fill 7 out of 
10 vacancies at the GS-14 and GS-15 levels until the total number of GS-
14 and GS-15 positions in the Department has been reduced from the 
number of GS-14 and GS-15 positions on the date of enactment of Public 
Law 106-377 by 2\1/2\ percent]. (Department of Housing and Urban 
Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0143-0-1-999      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Direct program:
      Direct program:

00.01   Housing, mortgage credit, 
          regulatory and energy 
          conservation..................         243         257         266
00.02   Community planning and 
          development programs..........          42          44          46
00.03   Equal opportunity and research 
          programs......................          43          46          48
00.04   Departmental management, legal 
          and audit services............          49          52          54
00.05   Field direction and 
          administration................         164         174         180
09.01 Reimbursable program..............         571         569         568
                                           ---------   ---------  ----------
09.99   Total reimbursable program......         571         569         568
                                           ---------   ---------  ----------
10.00   Total new obligations...........       1,112       1,142       1,162
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......       1,116       1,142       1,162
23.95 Total new obligations.............      -1,112      -1,142      -1,162
23.98 Unobligated balance expiring or 
        withdrawn.......................          -5
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................         547         579         594
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -6
40.35   Appropriation permanently 
          reduced.......................          -4
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............         543         573         594
      Discretionary:

68.00   Spending authority from 
          offsetting collections: 
          Offsetting collections (cash).         573         569         568
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................       1,116       1,142       1,162
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         129         117         133
73.10 Total new obligations.............       1,112       1,142       1,162
73.20 Total outlays (gross).............      -1,118      -1,126      -1,158
73.40 Adjustments in expired accounts 
        (net)...........................          -6
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         117         133         137
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................         991       1,010       1,026
86.93 Outlays from discretionary 
        balances........................         127         116         132
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........       1,118       1,126       1,158
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

88.00   Offsetting collections (cash) 
          from: Federal sources.........        -573        -569        -568
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         543         573         594
90.00 Outlays...........................         545         557         590
---------------------------------------------------------------------------

                 Summary of Budget Authority and Outlays

                        (in millions of dollars)

                                     2005 actual  2006 est.   2007 est.
Enacted/requested:
  Budget Authority............            543            573             594
  Outlays.....................            545            557             590
Legislative proposal, not subject to 
    PAYGO:
  Budget Authority............                                            -6
  Outlays.....................                                            -6
                                    ------------------------------------
Total:
  Budget Authority............            543            573             588
  Outlays.....................            545            557             584
                                    ====================================

    This appropriation finances all salaries and related costs 
associated with administering the programs of the Department of Housing 
and Urban Development, including: housing and mortgage credit programs; 
community planning and development programs; equal opportunity, 
research, regulatory and insurance programs; departmental management, 
and legal services; and, field direction and administration.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0143-0-1-999      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

      Direct obligations:

        Personnel compensation:
11.1      Full-time permanent...........         339         360         374
11.3      Other than full-time permanent           3           4           4
11.5      Other personnel compensation..           7           7           8
                                           ---------   ---------  ----------
11.9        Total personnel compensation         349         371         386
12.1    Civilian personnel benefits.....          87          92          96
21.0    Travel and transportation of 
          persons.......................           8           8           8
23.1    Rental payments to GSA..........          47          52          53
23.3    Communications, utilities, and 
          miscellaneous charges.........          12          14          13
24.0    Printing and reproduction.......           3           2           2
25.1    Advisory and assistance services          25          25          26
25.2    Other services..................           1           1           1
25.3    Other purchases of goods and 
          services from Government 
          accounts......................           1
25.4    Operation and maintenance of 
          facilities....................           4           4           4
25.7    Operation and maintenance of 
          equipment.....................                                   1
26.0    Supplies and materials..........           2           2           2
31.0    Equipment.......................           2           2           1
42.0    Insurance claims and indemnities                                   1
                                           ---------   ---------  ----------
99.0      Direct obligations............         541         573         594
99.0  Reimbursable obligations..........         571         569         568
                                           ---------   ---------  ----------
99.9    Total new obligations...........       1,112       1,142       1,162
---------------------------------------------------------------------------

                              Personnel Summary

----------------------------------------------------------------------------
Identification code 86-0143-0-1-999      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Direct:
1001  Civilian full-time equivalent 
        employment......................       4,252       4,183       4,136
    Reimbursable:
2001  Civilian full-time equivalent 
        employment......................       4,490       4,417       4,369
---------------------------------------------------------------------------

                          Salaries and Expenses

              (Legislative proposal, not subject to PAYGO)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0143-2-1-999      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Direct program:
01.01 Direct Program Activity...........                                  -6
                                           ---------   ---------  ----------
10.00   Total new obligations...........                                  -6
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......                                  -6
23.95 Total new obligations.............                                   6
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................                                  -6
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                                  -6
73.20 Total outlays (gross).............                                   6
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................                                  -6
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................                                  -6

[[Page 577]]

90.00 Outlays...........................                                  -6
---------------------------------------------------------------------------

    Upon enactment of the Budget proposal for a strengthened regulator 
for Government-sponsored enterprises (GSEs), it is expected that the 
cost of HUD's responsibilities under the Federal Housing Enterprise 
Safety and Soundness Act of 1992, and amendments as proposed, would be 
assessed on Fannie Mae and Freddie Mac. These responsibilities include 
the establishment and enforcement of affordable housing goals for the 
GSEs, ensuring GSE compliance with fair housing laws, and providing 
consultation to the safety and soundness regulator on the GSEs new 
activities. The cost of these regulatory responsibilities is currently 
in HUD Salaries and Expenses as a non-reimbursable expense.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0143-2-1-999      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
11.1  Personnel compensation: Full-time 
        permanent.......................                                  -3
12.1  Civilian personnel benefits.......                                  -1
25.1  Advisory and assistance services..                                  -2
                                           ---------   ---------  ----------
99.9    Total new obligations...........                                  -6
---------------------------------------------------------------------------

                              Personnel Summary

----------------------------------------------------------------------------
Identification code 86-0143-2-1-999      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Direct:
1001  Civilian full-time equivalent 
        employment......................                                 -32
---------------------------------------------------------------------------

                                

                       Office of Inspector General

                      (including transfer of funds)

    For necessary expenses of the Office of Inspector General in 
carrying out the Inspector General Act of 1978, as amended, 
[$106,000,000] $107,000,000, of which [$24,000,000] $23,760,000 shall be 
provided from the various funds of the Federal Housing Administration[: 
Provided, That the Inspector General shall have independent authority 
over all personnel issues within this office]. (Department of Housing 
and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0189-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Direct program....................          79          81          83
09.01 Reimbursable program..............          24          24          24
                                           ---------   ---------  ----------
10.00   Total new obligations...........         103         105         107
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......         103         105         107
23.95 Total new obligations.............        -103        -105        -107
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................          80          82          83
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -1
40.35   Appropriation permanently 
          reduced.......................          -1
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............          79          81          83
      Discretionary:

68.00   Spending authority from 
          offsetting collections: 
          Offsetting collections (cash).          24          24          24
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................         103         105         107
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..          19          16          19
73.10 Total new obligations.............         103         105         107
73.20 Total outlays (gross).............        -102        -102        -107
73.40 Adjustments in expired accounts 
        (net)...........................          -4
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          16          19          19
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................          88          86          88
86.93 Outlays from discretionary 
        balances........................          14          16          19
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........         102         102         107
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

88.00   Offsetting collections (cash) 
          from: Federal sources.........         -24         -24         -24
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................          79          81          83
90.00 Outlays...........................          78          78          83
---------------------------------------------------------------------------

    This appropriation provides agency wide audit and investigative 
functions to identify and correct management and administrative 
deficiencies that create conditions for existing or potential instances 
of fraud, waste and mismanagement. The audit function provides internal 
audit and contract audit. Internal audits review and evaluate all facets 
of agency operations. The investigative function provides for the 
detection and investigation of improper and illegal activities involving 
programs, personnel, and operations.

      

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0189-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

      Direct obligations:

        Personnel compensation:
11.1      Full-time permanent...........          40          43          45
11.5      Other personnel compensation..           4           4           4
                                           ---------   ---------  ----------
11.9        Total personnel compensation          44          47          49
12.1    Civilian personnel benefits.....          13          14          14
21.0    Travel and transportation of 
          persons.......................           3           4           4
23.1    Rental payments to GSA..........           7           6           6
25.1    Advisory and assistance services          10           9           9
25.2    Other services..................           1           1           1
26.0    Supplies and materials..........           1
                                           ---------   ---------  ----------
99.0      Direct obligations............          79          81          83
99.0  Reimbursable obligations..........          24          24          24
                                           ---------   ---------  ----------
99.9    Total new obligations...........         103         105         107
---------------------------------------------------------------------------

                              Personnel Summary

----------------------------------------------------------------------------
Identification code 86-0189-0-1-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Direct:
1001  Civilian full-time equivalent 
        employment......................         495         493         490
    Reimbursable:
2001  Civilian full-time equivalent 
        employment......................         142         141         140
---------------------------------------------------------------------------

                                

                             GSE Regulation

              (Legislative proposal, not subject to PAYGO)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0142-2-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
09.00 GSE regulation expenses...........                                   6
                                           ---------   ---------  ----------
10.00   Total new obligations...........                                   6
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......                                   6
23.95 Total new obligations.............                                  -6
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Mandatory:

69.00   Spending authority from 
          offsetting collections 
          (gross): Offsetting 
          collections (cash)............                                   6
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                                   6
73.20 Total outlays (gross).............                                  -6
----------------------------------------------------------------------------

[[Page 578]]



    Outlays (gross), detail:
86.97 Outlays from new mandatory 
        authority.......................                                   6
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

88.40   Offsetting collections (cash) 
          from: Non-Federal sources.....                                  -6
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................
---------------------------------------------------------------------------

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-0142-2-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
99.0  Reimbursable obligations: 
        Reimbursable obligations........                                   6
                                           ---------   ---------  ----------
99.9    Total new obligations...........                                   6
---------------------------------------------------------------------------

                              Personnel Summary

----------------------------------------------------------------------------
Identification code 86-0142-2-1-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Reimbursable:
2001  Civilian full-time equivalent 
        employment......................                                  32
---------------------------------------------------------------------------

                                

             Office of Federal Housing Enterprise Oversight

                          salaries and expenses

                      (including transfer of funds)

    [For carrying out the Federal Housing Enterprises Financial Safety 
and Soundness Act of 1992, including not to exceed $500 for official 
reception and representation expenses, $60,000,000, to remain available 
until expended, to be derived from the Federal Housing Enterprises 
Oversight Fund: Provided, That the Director shall submit a spending plan 
for the amounts provided under this heading no later than January 15, 
2006: Provided further, That not less than 80 percent of the total 
amount made available under this heading shall be used only for 
examination, supervision, and capital oversight of the enterprises (as 
such term is defined in section 1303 of the Federal Housing Enterprises 
Financial Safety and Soundness Act of 1992 (12 U.S.C. 4502)) to ensure 
that the enterprises are operating in a financially safe and sound 
manner and complying with the capital requirements under Subtitle B of 
such Act: Provided further, That not to exceed the amount provided 
herein shall be available from the general fund of the Treasury to the 
extent necessary to incur obligations and make expenditures pending the 
receipt of collections to the Fund: Provided further, That the general 
fund amount shall be reduced as collections are received during the 
fiscal year so as to result in a final appropriation from the general 
fund estimated at not more than $0.] (Department of Housing and Urban 
Development Appropriations Act, 2006.)

          Special and Trust Fund Receipts (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-5272-0-2-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
01.00 Balance, start of year............
                                           ---------   ---------  ----------
01.99 Balance, start of year............
    Receipts:
02.00 Office of Federal Housing 
        Enterprise Oversight............          64          60          62
02.01 Office of Federal Housing 
        Enterprise Oversight--
        legislative proposal not subject 
        to PAYGO........................                                 -62
                                           ---------   ---------  ----------
02.99   Total receipts and collections..          64          60
    Appropriations:
05.00 Office of Federal Housing 
        Enterprise Oversight............         -64         -60         -62
05.01 Office of Federal Housing 
        Enterprise Oversight--
        legislative proposal not subject 
        to PAYGO........................                                  62
                                           ---------   ---------  ----------
05.99   Total appropriations............         -64         -60
                                           ---------   ---------  ----------
07.99 Balance, end of year..............
---------------------------------------------------------------------------

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-5272-0-2-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Direct program....................          64          60          62
                                           ---------   ---------  ----------
10.00   Total new obligations...........          64          60          62
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......          64          60          62
23.95 Total new obligations.............         -64         -60         -62
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.20   Appropriation (special fund)....          64          60          62
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..           8          24          14
73.10 Total new obligations.............          64          60          62
73.20 Total outlays (gross).............         -48         -70         -62
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..          24          14          14
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................          41          52          54
86.93 Outlays from discretionary 
        balances........................           7          18           8
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........          48          70          62
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................          64          60          62
90.00 Outlays...........................          48          70          62
---------------------------------------------------------------------------

                 Summary of Budget Authority and Outlays

                        (in millions of dollars)

                                     2005 actual  2006 est.   2007 est.
Enacted/requested:
  Budget Authority............             64             60              62
  Outlays.....................             48             70              62
Legislative proposal, not subject to 
    PAYGO:
  Budget Authority............                                           -62
  Outlays.....................                                           -62
                                    ------------------------------------
Total:
  Budget Authority............             64             60
  Outlays.....................             48             70
                                    ====================================

    The Office of Federal Housing Enterprise Oversight (OFHEO) was 
authorized in the Federal Housing Enterprise Safety and Soundness Act of 
1992. OFHED was established in 1992 to regulate the financial safety and 
soundness of two housing Government-sponsored enterprises (GSEs)--Fannie 
Mae and Freddie Mac. OFHEO is required to ensure that the GSEs meet 
capital standards, and to conduct onsite annual examinations at the GSEs 
for the purpose for ensuring their financial safety and soundness.

    The Budget proposes a new strengthened housing GSE regulator as an 
independent agency. All OFHEO resources would be transferred to it. The 
Administration continues to support direct funding of these activities 
with mandatory assessments on Fannie Mae and Freddie Mac.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-5272-0-2-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

      Direct obligations:

11.1    Personnel compensation: 
          Personnel Compensation........          24          32          33
12.1    Civilian personnel benefits.....           6           7           9
23.2    Rental payments to others.......           5           5           6
25.2    Other services..................          17           7           8
31.0    Equipment.......................           9           6           4
32.0    Land and structures.............           2           1
                                           ---------   ---------  ----------
99.0      Direct obligations............          63          58          60
99.5  Below reporting threshold.........           1           2           2
                                           ---------   ---------  ----------

[[Page 579]]


99.9    Total new obligations...........          64          60          62
---------------------------------------------------------------------------

                              Personnel Summary

----------------------------------------------------------------------------
Identification code 86-5272-0-2-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Direct:
1001  Civilian full-time equivalent 
        employment......................         198         251         256
---------------------------------------------------------------------------

                                

             Office of Federal Housing, Enterprise Oversight

                          Salaries and Expenses

              (Legislative proposal, not subject to PAYGO)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-5272-2-2-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Direct program....................                                 -62
                                           ---------   ---------  ----------
10.00   Total new obligations...........                                 -62
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
22.00 New budget authority (gross)......                                 -62
23.95 Total new obligations.............                                  62
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.20   Appropriation (special fund)....                                 -62
----------------------------------------------------------------------------

    Change in obligated balances:
73.10 Total new obligations.............                                 -62
73.20 Total outlays (gross).............                                  62
73.31 Obligated balance transferred to 
        other accounts..................                                 -14
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..                                 -14
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................                                 -54
86.93 Outlays from discretionary 
        balances........................                                  -8
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........                                 -62
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................                                 -62
90.00 Outlays...........................                                 -62
---------------------------------------------------------------------------

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-5272-2-2-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

      Direct obligations:

11.1    Personnel compensation: 
          Personnel Compensation........                                 -33
12.1    Civilian personnel benefits.....                                  -9
23.2    Rental payments to others.......                                  -6
25.2    Other services..................                                  -8
31.0    Equipment.......................                                  -4
                                           ---------   ---------  ----------
99.0      Direct obligations............                                 -60
99.5  Below reporting threshold.........                                  -2
                                           ---------   ---------  ----------
99.9    Total new obligations...........                                 -62
---------------------------------------------------------------------------

                              Personnel Summary

----------------------------------------------------------------------------
Identification code 86-5272-2-2-371      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Direct:
1001  Civilian full-time equivalent 
        employment......................                                -256
---------------------------------------------------------------------------

                                

Intragovernmental funds:

                          Working Capital Fund

    For additional capital for the Working Capital Fund (42 U.S.C. 3535) 
for the development of, modifications to, and infrastructure for 
Department-wide information technology systems, for the continuing 
operation and maintenance of both Department-wide and program-specific 
information systems, and for program-related development activities, 
[$197,000,000] $219,780,000, to remain available until September 30, 
[2007] 2008: Provided, That any amounts transferred to this Fund under 
this Act shall remain available until expended: Provided further, That 
any amounts transferred to this Fund from amounts appropriated by 
previously enacted appropriations Acts or from within this Act may be 
used only for the purposes specified under this Fund, in addition to the 
purposes for which such amounts were appropriated. (Department of 
Housing and Urban Development Appropriations Act, 2006.)

               Program and Financing (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4586-0-4-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

    Obligations by program activity:
00.01 Direct program activity...........         273         199         222
09.01 Reimbursable program..............          71          57          79
                                           ---------   ---------  ----------
10.00   Total new obligations...........         344         256         301
----------------------------------------------------------------------------

    Budgetary resources available for obligation:
21.40 Unobligated balance carried 
        forward, start of year..........          32          20          22
22.00 New budget authority (gross)......         315         246         289
22.10 Resources available from 
        recoveries of prior year 
        obligations.....................          17          12          12
                                           ---------   ---------  ----------
23.90   Total budgetary resources 
          available for obligation......         364         278         323
23.95 Total new obligations.............        -344        -256        -301
                                           ---------   ---------  ----------
24.40   Unobligated balance carried 
          forward, end of year..........          20          22          22
----------------------------------------------------------------------------

    New budget authority (gross), detail:
      Discretionary:

40.00   Appropriation...................         270         197         220
40.33   Appropriation permanently 
          reduced (P.L. 109-148)........                      -2
40.35   Appropriation permanently 
          reduced.......................          -2
                                           ---------   ---------  ----------
43.00     Appropriation (total 
            discretionary)..............         268         195         220
      Spending authority from offsetting 
          collections:

        Discretionary:
68.00     Offsetting collections (cash).          55          51          69
68.10     Change in uncollected customer 
            payments from Federal 
            sources (unexpired).........          -8
                                           ---------   ---------  ----------
68.90       Spending authority from 
              offsetting collections 
              (total discretionary).....          47          51          69
                                           ---------   ---------  ----------
70.00   Total new budget authority 
          (gross).......................         315         246         289
----------------------------------------------------------------------------

    Change in obligated balances:
72.40 Obligated balance, start of year..         240         258         238
73.10 Total new obligations.............         344         256         301
73.20 Total outlays (gross).............        -317        -264        -275
73.45 Recoveries of prior year 
        obligations.....................         -17         -12         -12
74.00 Change in uncollected customer 
        payments from Federal sources 
        (unexpired).....................           8
                                           ---------   ---------  ----------
74.40   Obligated balance, end of year..         258         238         252
----------------------------------------------------------------------------

    Outlays (gross), detail:
86.90 Outlays from new discretionary 
        authority.......................         138         176         204
86.93 Outlays from discretionary 
        balances........................         179          88          71
                                           ---------   ---------  ----------
87.00   Total outlays (gross)...........         317         264         275
----------------------------------------------------------------------------

    Offsets:
      Against gross budget authority and outlays:

88.00   Offsetting collections (cash) 
          from: Federal sources.........         -55         -51         -69
      Against gross budget authority only:

88.95   Change in uncollected customer 
          payments from Federal sources 
          (unexpired)...................           8
----------------------------------------------------------------------------

    Net budget authority and outlays:
89.00 Budget authority..................         268         195         220
90.00 Outlays...........................         262         213         206
---------------------------------------------------------------------------

    The Working Capital Fund, authorized by the Department of Housing 
and Urban Development Act of 1965, finances information technology and 
office automation initiatives which can be performed more efficiently on 
a centralized basis. Since 2003, a direct appropriation has been 
requested for the oper

[[Page 580]]

ations of the computer system and for development and modifications of 
Department-wide systems. Fees have continued for services to develop and 
modify systems where the benefit is limited to a specific program.

               Object Classification (in millions of dollars)

----------------------------------------------------------------------------
Identification code 86-4586-0-4-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------

      Direct obligations:

11.1    Personnel compensation: Full-
          time permanent................          32          35          35
12.1    Civilian personnel benefits.....           8           7           9
21.0    Travel and transportation of 
          persons.......................           2           2           2
23.3    Communications, utilities, and 
          miscellaneous charges.........           5           5           5
25.1    Advisory and assistance services         212         139         160
26.0    Supplies and materials..........           1           1           1
31.0    Equipment.......................          13          10          10
                                           ---------   ---------  ----------
99.0      Direct obligations............         273         199         222
      Reimbursable obligations:

25.1    Advisory and assistance services          71          57          79
                                           ---------   ---------  ----------
99.0      Reimbursable obligations......          71          57          79
                                           ---------   ---------  ----------
99.9    Total new obligations...........         344         256         301
---------------------------------------------------------------------------

                              Personnel Summary

----------------------------------------------------------------------------
Identification code 86-4586-0-4-451      2005 actual   2006 est.   2007 est.
----------------------------------------------------------------------------
    Direct:
1001  Civilian full-time equivalent 
        employment......................         344         347         314
---------------------------------------------------------------------------

                                

                        Administrative Provisions

    Sec. 301. Fifty percent of the amounts of budget authority, or in 
lieu thereof 50 percent of the cash amounts associated with such budget 
authority, that are recaptured from projects described in section 
1012(a) of the Stewart B. McKinney Homeless Assistance Amendments Act of 
1988 (42 U.S.C. 1437 note) shall be rescinded, or in the case of cash, 
shall be remitted to the Treasury, and such amounts of budget authority 
or cash recaptured and not rescinded or remitted to the Treasury shall 
be used by State housing finance agencies or local governments or local 
housing agencies with projects approved by the Secretary of Housing and 
Urban Development for which settlement occurred after January 1, 1992, 
in accordance with such section. Notwithstanding the previous sentence, 
the Secretary may award up to 15 percent of the budget authority or cash 
recaptured and not rescinded or remitted to the Treasury to provide 
project owners with incentives to refinance their project at a lower 
interest rate.
    Sec. 302. None of the amounts made available under this Act may be 
used during fiscal year [2006] 2007 to investigate or prosecute under 
the Fair Housing Act any otherwise lawful activity engaged in by one or 
more persons, including the filing or maintaining of a non-frivolous 
legal action, that is engaged in solely for the purpose of achieving or 
preventing action by a Government official or entity, or a court of 
competent jurisdiction.
    Sec. 303. (a) Notwithstanding section 854(c)(1)(A) of the AIDS 
Housing Opportunity Act (42 U.S.C. 12903(c)(1)(A)), from any amounts 
made available under this title for fiscal year [2006] 2007 that are 
allocated under such section, the Secretary of Housing and Urban 
Development shall allocate and make a grant, in the amount determined 
under subsection (b), for any State that--
        (1) received an allocation in a prior fiscal year under clause 
    (ii) of such section; and
        (2) is not otherwise eligible for an allocation for fiscal year 
    [2006] 2007 under such clause (ii) because the areas in the State 
    outside of the metropolitan statistical areas that qualify under 
    clause (i) in fiscal year [2006] 2007 do not have the number of 
    cases of acquired immunodeficiency syndrome (AIDS) required under 
    such clause.
    (b) The amount of the allocation and grant for any State described 
in subsection (a) shall be an amount based on the cumulative number of 
AIDS cases in the areas of that State that are outside of metropolitan 
statistical areas that qualify under clause (i) of such section 
854(c)(1)(A) in fiscal year [2006] 2007, in proportion to AIDS cases 
among cities and States that qualify under clauses (i) and (ii) of such 
section and States deemed eligible under subsection (a).
    (c) Notwithstanding any other provision of law, the amount allocated 
for fiscal year [2006] 2007 under section 854(c) of the AIDS Housing 
Opportunity Act (42 U.S.C. 12903(c)), to the City of New York, New York, 
on behalf of the New York-Wayne-White Plains, New York-New Jersey 
Metropolitan Division (hereafter ``metropolitan division'') of the New 
York-Newark-Edison, NY-NJ-PA Metropolitan Statistical Area, shall be 
adjusted by the Secretary of Housing and Urban Development by: (1) 
allocating to the City of Jersey City, New Jersey, the proportion of the 
metropolitan area's or division's amount that is based on the number of 
cases of AIDS reported in the portion of the metropolitan area or 
division that is located in Hudson County, New Jersey, and adjusting for 
the proportion of the metropolitan division's high incidence bonus if 
this area in New Jersey also has a higher than average per capita 
incidence of AIDS; and (2) allocating to the City of Paterson, New 
Jersey, the proportion of the metropolitan area's or division's amount 
that is based on the number of cases of AIDS reported in the portion of 
the metropolitan area or division that is located in Bergen County and 
Passaic County, New Jersey, and adjusting for the proportion of the 
metropolitan division's high incidence bonus if this area in New Jersey 
also has a higher than average per capita incidence of AIDS. The 
recipient cities shall use amounts allocated under this subsection to 
carry out eligible activities under section 855 of the AIDS Housing 
Opportunity Act (42 U.S.C. 12904) in their respective portions of the 
metropolitan division that is located in New Jersey.
    (d) Notwithstanding any other provision of law, the amount allocated 
for fiscal year [2006] 2007 under section 854(c) of the AIDS Housing 
Opportunity Act (42 U.S.C. 12903(c)) to areas with a higher than average 
per capita incidence of AIDS, shall be adjusted by the Secretary on the 
basis of area incidence reported over a three year period.
    Sec. 304. (a) During fiscal year [2006] 2007, in the provision of 
rental assistance under section 8(o) of the United States Housing Act of 
1937 (42 U.S.C. 1437f(o)) in connection with a program to demonstrate 
the economy and effectiveness of providing such assistance for use in 
assisted living facilities that is carried out in the counties of the 
State of Michigan notwithstanding paragraphs (3) and (18)(B)(iii) of 
such section 8(o), a family residing in an assisted living facility in 
any such county, on behalf of which a public housing agency provides 
assistance pursuant to section 8(o)(18) of such Act, may be required, at 
the time the family initially receives such assistance, to pay rent in 
an amount exceeding 40 percent of the monthly adjusted income of the 
family by such a percentage or amount as the Secretary of Housing and 
Urban Development determines to be appropriate.
    Sec. 305. Except as explicitly provided in law, any grant, 
cooperative agreement or other assistance made pursuant to title III of 
this Act shall be made on a competitive basis and in accordance with 
section 102 of the Department of Housing and Urban Development Reform 
Act of 1989.
    [Sec. 306. Funds of the Department of Housing and Urban Development 
subject to the Government Corporation Control Act or section 402 of the 
Housing Act of 1950 shall be available, without regard to the 
limitations on administrative expenses, for legal services on a contract 
or fee basis, and for utilizing and making payment for services and 
facilities of the Federal National Mortgage Association, Government 
National Mortgage Association, Federal Home Loan Mortgage Corporation, 
Federal Financing Bank, Federal Reserve banks or any member thereof, 
Federal Home Loan banks, and any insured bank within the meaning of the 
Federal Deposit Insurance Corporation Act, as amended (12 U.S.C. 1811-
1831).]
    Sec. [307] 306. Unless otherwise provided for in this Act or through 
a reprogramming of funds, no part of any appropriation for the 
Department of Housing and Urban Development shall be available for any 
program, project or activity in excess of amounts set forth in the 
budget estimates submitted to Congress.
    Sec. [308] 307. Corporations and agencies of the Department of 
Housing and Urban Development which are subject to the Government 
Corporation Control Act, as amended, are hereby authorized to make such 
expenditures, within the limits of funds and borrowing authority 
available to each such corporation or agency and in accordance with law, 
and to make such contracts and commitments without regard to fiscal year 
limitations as provided by section 104 of such Act as may be necessary 
in carrying out the programs set forth

[[Page 581]]

in the budget for [2006] 2007 for such corporation or agency except as 
hereinafter provided: Provided, That collections of these corporations 
and agencies may be used for new loan or mortgage purchase commitments 
only to the extent expressly provided for in this Act (unless such loans 
are in support of other forms of assistance provided for in this or 
prior appropriations Acts), except that this proviso shall not apply to 
the mortgage insurance or guaranty operations of these corporations, or 
where loans or mortgage purchases are necessary to protect the financial 
interest of the United States Government.
    Sec. [309] 308. None of the funds provided in this title for 
technical assistance, training, or management improvements may be 
obligated or expended unless HUD provides to the Committees on 
Appropriations a description of each proposed activity and a detailed 
budget estimate of the costs associated with each program, project or 
activity as part of the Budget Justifications. For fiscal year [2006] 
2007, HUD shall transmit this information to the Committees by March 15, 
[2006] 2007 for 30 days of review.
    Sec. [310] 309. The Secretary of Housing and Urban Development shall 
provide quarterly reports to the House and Senate Committees on 
Appropriations regarding all uncommitted, unobligated, recaptured and 
excess funds in each program and activity within the jurisdiction of the 
Department and shall submit additional, updated budget information to 
these Committees upon request.
    [Sec. 311. Notwithstanding any other provision of law, in fiscal 
year 2006, in managing and disposing of any multifamily property that is 
owned or held by the Secretary of Housing and Urban Development, the 
Secretary shall maintain any rental assistance payments under section 8 
of the United States Housing Act of 1937 that are attached to any 
dwelling units in the property. To the extent the Secretary determines 
that such a multifamily property owned or held by the Secretary is not 
feasible for continued rental assistance payments under such section 8, 
based on consideration of the costs of maintaining such payments for 
that property or other factors, the Secretary may, in consultation with 
the tenants of that property, contract for project-based rental 
assistance payments with an owner or owners of other existing housing 
properties, or provide other rental assistance.]
    Sec. [312] 310. (a) Notwithstanding any other provision of law, the 
amount allocated for fiscal year [2006] 2007 under section 854(c) of the 
AIDS Housing Opportunity Act (42 U.S.C. 12903(c)), to the City of 
Wilmington, Delaware, on behalf of the Wilmington, Delaware-Maryland-New 
Jersey Metropolitan Division (hereafter ``metropolitan division''), 
shall be adjusted by the Secretary of Housing and Urban Development by 
allocating to the State of New Jersey the proportion of the metropolitan 
division's amount that is based on the number of cases of AIDS reported 
in the portion of the metropolitan division that is located in New 
Jersey, and adjusting for the proportion of the metropolitan division's 
high incidence bonus if this area in New Jersey also has a higher than 
average per capita incidence of AIDS. The State of New Jersey shall use 
amounts allocated to the State under this subsection to carry out 
eligible activities under section 855 of the AIDS Housing Opportunity 
Act (42 U.S.C. 12904) in the portion of the metropolitan division that 
is located in New Jersey.
    (b) Notwithstanding any other provision of law, the Secretary of 
Housing and Urban Development shall allocate to Wake County, North 
Carolina, the amounts that otherwise would be allocated for fiscal year 
[2006] 2007 under section 854(c) of the AIDS Housing Opportunity Act (42 
U.S.C. 12903(c)) to the City of Raleigh, North Carolina, on behalf of 
the Raleigh-Cary, North Carolina Metropolitan Statistical Area. Any 
amounts allocated to Wake County shall be used to carry out eligible 
activities under section 855 of such Act (42 U.S.C. 12904) within such 
metropolitan statistical area.
    (c) Notwithstanding section 854(c) of the AIDS Housing Opportunity 
Act (42 U.S.C. 12903(c)), the Secretary of Housing and Urban Development 
may adjust the allocation of the amounts that otherwise would be 
allocated for fiscal year [2006] 2007 under section 854(c) of such Act, 
upon the written request of an applicant, in conjunction with the 
State(s), for a formula allocation on behalf of a metropolitan 
statistical area, to designate the State or States in which the 
metropolitan statistical area is located as the eligible grantee(s) of 
the allocation. In the case that a metropolitan statistical area 
involves more than one State, such amounts allocated to each State shall 
be in proportion to the number of cases of AIDS reported in the portion 
of the metropolitan statistical area located in that State. Any amounts 
allocated to a State under this section shall be used to carry out 
eligible activities within the portion of the metropolitan statistical 
area located in that State.
    [Sec. 313. Notwithstanding any other provision of law, for this 
fiscal year and every fiscal year thereafter, funds appropriated for 
housing for the elderly, as authorized by section 202 of the Housing Act 
of 1959, as amended, and for supportive housing for persons with 
disabilities, as authorized by section 811 of the Cranston-Gonzalez 
National Affordable Housing Act, shall be available for the cost of 
maintaining and disposing of such properties that are acquired or 
otherwise become the responsibility of the Department.]
    [Sec. 314. The Secretary of Housing and Urban Development shall 
submit an annual report no later than August 30, 2006 and annually 
thereafter to the House and Senate Committees on Appropriations 
regarding the number of Federally assisted units under lease and the per 
unit cost of these units to the Department of Housing and Urban 
Development.]
    [Sec. 315. The Department of Housing and Urban Development shall 
submit the Department's fiscal year 2007 congressional budget 
justifications to the Committees on Appropriations of the House of 
Representatives and the Senate using the identical structure provided 
under this Act and only in accordance with the direction specified in 
the report accompanying this Act.]
    Sec. [316] 311. That incremental vouchers previously made available 
under the heading ``Housing Certificate Fund'' or renewed under the 
heading, ``Tenant-Based Rental Assistance,'' for non-elderly disabled 
families shall, to the extent practicable, continue to be provided to 
non-elderly disabled families upon turnover.
    Sec. [317] 312. A public housing agency or such other entity that 
administers Federal housing assistance in the States of Alaska, Iowa, 
and Mississippi shall not be required to include a resident of public 
housing or a recipient of assistance provided under section 8 of the 
United States Housing Act of 1937 on the board of directors or a similar 
governing board of such agency or entity as required under section 
(2)(b) of such Act. Each public housing agency or other entity that 
administers Federal housing assistance under section 8 in the States of 
Alaska, Iowa and Mississippi shall establish an advisory board of not 
less than 6 residents of public housing or recipients of section 8 
assistance to provide advice and comment to the public housing agency or 
other administering entity on issues related to public housing and 
section 8. Such advisory board shall meet not less than quarterly.
    [Sec. 318. (a) Notwithstanding any other provision of law, subject 
to the conditions listed in subsection (b), for fiscal years 2006 and 
2007, the Secretary may authorize the transfer of project-based 
assistance, debt and statutorily required low-income and very low-income 
use restrictions, associated with one multifamily housing project to 
another multifamily housing project.
    (b) The transfer authorized in subsection (a) is subject to the 
following conditions:
        (1) the number of low-income and very low-income units and the 
    net dollar amount of Federal assistance provided by the transferring 
    project shall remain the same in the receiving project;
        (2) the transferring project shall, as determined by the 
    Secretary, be either physically obsolete or economically non-viable;
        (3) the receiving project shall meet or exceed applicable 
    physical standards established by the Secretary;
        (4) the owner or mortgagor of the transferring project shall 
    notify and consult with the tenants residing in the transferring 
    project and provide a certification of approval by all appropriate 
    local governmental officials;
        (5) the tenants of the transferring project who remain eligible 
    for assistance to be provided by the receiving project shall not be 
    required to vacate their units in the transferring project until new 
    units in the receiving project are available for occupancy;
        (6) the Secretary determines that this transfer is in the best 
    interest of the tenants;
        (7) if either the transferring project or the receiving project 
    meets the condition specified in subsection (c)(2)(A), any lien on 
    the receiving project resulting from additional financing obtained 
    by the owner shall be subordinate to any FHA-insured mortgage lien 
    transferred to, or placed on, such project by the Secretary;
        (8) if the transferring project meets the requirements of 
    subsection (c)(2)(E), the owner or mortgagor of the receiving 
    project shall execute and record either a continuation of the 
    existing use agreement or a new use agreement for the project where, 
    in either case, any use restrictions in such agreement are of no 
    lesser duration than the existing use restrictions;

[[Page 582]]

        (9) any financial risk to the FHA General and Special Risk 
    Insurance Fund, as determined by the Secretary, would be reduced as 
    a result of a transfer completed under this section; and
        (10) the Secretary determines that Federal liability with regard 
    to this project will not be increased.
    (c) For purposes of this section--
        (1) the terms ``low-income'' and ``very low-income'' shall have 
    the meanings provided by the statute and/or regulations governing 
    the program under which the project is insured or assisted;
        (2) the term ``multifamily housing project'' means housing that 
    meets one of the following conditions--
                (A) housing that is subject to a mortgage insured under 
            the National Housing Act;
                (B) housing that has project-based assistance attached 
            to the structure;
                (C) housing that is assisted under section 202 of the 
            Housing Act of 1959 as amended by section 801 of the 
            Cranston-Gonzales National Affordable Housing Act;
                (D) housing that is assisted under section 202 of the 
            Housing Act of 1959, as such section existed before the 
            enactment of the Cranston-Gonzales National Affordable 
            Housing Act; or
                (E) housing or vacant land that is subject to a use 
            agreement;
        (3) the term ``project-based assistance'' means--
                (A) assistance provided under section 8(b) of the United 
            States Housing Act of 1937;
                (B) assistance for housing constructed or substantially 
            rehabilitated pursuant to assistance provided under section 
            8(b)(2) of such Act (as such section existed immediately 
            before October 1, 1983);
                (C) rent supplement payments under section 101 of the 
            Housing and Urban Development Act of 1965;
                (D) additional assistance payments under section 
            236(f)(2) of the National Housing Act; and,
                (E) assistance payments made under section 202(c)(2) of 
            the Housing Act of 1959;
        (4) the term ``receiving project'' means the multifamily housing 
    project to which the project-based assistance, debt, and statutorily 
    required use low-income and very low-income restrictions are to be 
    transferred;
        (5) the term ``transferring project'' means the multifamily 
    housing project which is transferring the project-based assistance, 
    debt and the statutorily required low-income and very low-income use 
    restrictions to the receiving project; and,
        (6) the term ``Secretary'' means the Secretary of Housing and 
    Urban Development.]
    Sec. [319] 313. The funds made available for Native Alaskans under 
the heading ``Native American Housing Block Grants'' in title III of 
this Act shall be allocated to the same Native Alaskan housing block 
grant recipients that received funds in fiscal year 2005.
    [Sec. 320. (a) Extension.--The Secretary of Housing and Urban 
Development shall extend the term of the Moving to Work Demonstration 
Agreement entered into between a public housing agency and the Secretary 
under section 204, title V, of the Omnibus Consolidated Rescissions and 
Appropriations Act of 1996 (Public Law 104-134, April 26, 1996) if--
        (1) the public housing agency requests such extension in 
    writing;
        (2) the public housing agency is not at the time of such request 
    for extension in default under its Moving to Work Demonstration 
    Agreement; and
        (3) the Moving to Work Demonstration Agreement to be extended 
    would otherwise expire on or before September 30, 2006.
    (b) Terms.--Unless the Secretary of Housing and Urban Development 
and the public housing agency otherwise agree, the extension under 
subsection (a) shall be upon the identical terms and conditions set 
forth in the extending agency's existing Moving to Work Demonstration 
Agreement, except that for each public housing agency that has been or 
will be granted an extension to its original Moving to Work Agreement, 
the Secretary shall require that data be collected so that the effect of 
Moving to Work policy changes on residents can be measured.
    (c) Extension Period.--The extension under subsection (a) shall be 
for such period as is requested by the public housing agency, not to 
exceed 3 years from the date of expiration of the extending agency's 
existing Moving to Work Demonstration Agreement.
    (d) Breach of Agreement.--Nothing contained in this section shall 
limit the authority of the Secretary of Housing and Urban Development to 
terminate any Moving to Work Demonstration Agreement of a public housing 
agency if the public housing agency is in breach of the provisions of 
such agreement.]
    [Sec. 321. No funds provided under this title may be used for an 
audit of the Government National Mortgage Association that makes 
applicable requirements under the Federal Credit Reform Act of 1990 (2 
U.S.C. 661 et seq.).]
    Sec. [322] 314. Incremental vouchers previously made available under 
the heading, ``Housing Certificate Fund'' or renewed under the heading, 
``Tenant-Based Rental Assistance'', for family unification shall, to the 
extent practicable, continue to be provided for family unification.
    [Sec. 323. Section 223(f)(1) of the National Housing Act is amended 
by inserting ``purchase or'' immediately before ``refinancing of 
existing debt''.]
    [Sec. 324. Section 421 of the Housing and Community Development Act 
of 1987 (12 U.S.C. Sec. 1715z-4a) is amended--
        (1) in subsection (a)(1)(A), by inserting after ``is'' the 
    following: ``or, at the time of the violations, was''; and
        (2) in subsection (a)(1)(C), by inserting after ``held'' the 
    following: ``or, at the time of the violations, was insured or 
    held''.]
    [Sec. 325. Notwithstanding any other provision of law, for fiscal 
year 2006 and thereafter, all mortgagees receiving interest reduction 
payments under section 236 of the National Housing Act (12 U.S.C. 1715z-
1) shall submit only electronic invoices to the Department of Housing 
and Development in order to receive such payments. The mortgagees shall 
comply with this requirement no later than 90 days from the date of 
enactment of this provision.]
    [Sec. 326. Notwithstanding any other provision of law, the recipient 
of a grant under section 202b of the Housing Act of 1959 (12 U.S.C. 
1701q-2) after December 26, 2000, in accordance with the unnumbered 
paragraph at the end of section 202b(b) of such Act, may, at its option, 
establish a single-asset nonprofit entity to own the project and may 
lend the grant funds to such entity, which may be a private nonprofit 
organization described in section 831 of the American Homeownership and 
Economic Opportunity Act of 2000.]
    Sec. [327] 315. (a) No assistance shall be provided under section 8 
of the United States Housing Act of 1937 (42 U.S.C. 1437f) to any 
individual who--
        (1) is enrolled as a student at an institution of higher 
    education (as defined under section 102 of the Higher Education Act 
    of 1965 (20 U.S.C. 1002));
        (2) is under 24 years of age;
        (3) is not a veteran;
        (4) is unmarried;
        (5) does not have a dependent child; and
        (6) is not otherwise individually eligible, or has parents who, 
    individually or jointly, are not eligible, to receive assistance 
    under section 8 of the United States Housing Act of 1937 (42 U.S.C. 
    1437f).
    (b) For purposes of determining the eligibility of a person to 
receive assistance under section 8 of the United States Housing Act of 
1937 (42 U.S.C. 1437f), any financial assistance (in excess of amounts 
received for tuition) that an individual receives under the Higher 
Education Act of 1965 (20 U.S.C. 1001 et seq.), from private sources, or 
an institution of higher education (as defined under the Higher 
Education Act of 1965 (20 U.S.C. 1002)), shall be considered income to 
that individual, except for a person over the age of 23 with dependent 
children.
    (c) Not later than 30 days after the date of enactment of this Act, 
the Secretary of Housing and Urban Development shall issue final 
regulations to carry out the provisions of this section.
    [Sec. 328. The Secretary of Housing and Urban Development shall give 
priority consideration to applications from the housing authorities of 
the Counties of San Bernardino and Santa Clara and the City of San Jose, 
California to participate in the Moving to Work Demonstration Agreement 
under section 204, title V, of the Omnibus Consolidated Rescissions and 
Appropriations Act of 1996 (Public Law 104-134, April 26, 1996): 
Provided, That upon turnover, existing requirements on the re-issuance 
of Section 8 vouchers shall be maintained to ensure that not less than 
75 percent of all vouchers shall be made available to extremely low-
income families.]

               Ginnie Mae Administrative Expenses and Fees

    Sec. 316. Section 1 of the National Housing Act (12 U.S.C. 1702) is 
amended in the fifth sentence by striking ``Except with respect to

[[Page 583]]

subchapter III of this chapter'' and inserting ``Except with respect to 
the Federal National Mortgage Association''. Section 306(g)(3) of the 
National Housing Act (12 U.S.C. 1721(g)(3)) is amended by adding the 
following new subparagraph at the end: ``(F)(i) Notwithstanding 
subparagraphs (A) through (D), the Association shall charge an upfront 
fee on new guarantees of mortgage-backed securities. (ii) The 
Association shall set the upfront fee level each year such that 
estimated collections fully offset the estimated cost of program 
salaries and administrative expenses published in the Budget of the 
United States Government for the applicable fiscal year.'' (Department 
of Housing and Urban Development Appropriations Act, 2006.)
    [Sec. 901. Notwithstanding provisions of the United States Housing 
Act of 1937 (Public Law 93-383), in order to assist public housing 
agencies located within the most heavily impacted areas of Louisiana and 
Mississippi that are subject to a declaration by the President of a 
major disaster under the Robert T. Stafford Disaster Relief and 
Emergency Assistance Act (42 U.S.C. 5121 et seq.) in connection with 
Hurricane Katrina or Rita, the Secretary for calendar year 2006 may 
authorize a public housing agency to combine assistance provided under 
sections 9(d) and (e) of the United States Housing Act of 1937 and 
assistance provided under section 8(o) of such Act, for the purpose of 
facilitating the prompt, flexible and efficient use of funds provided 
under these sections of the Act to assist families who were receiving 
housing assistance under the Act immediately prior to Hurricane Katrina 
or Rita and were displaced from their housing by the hurricanes.]
    [Sec. 902. To the extent feasible the Secretary of Housing and Urban 
Development shall preserve all housing within the area declared a major 
disaster under the Robert T. Stafford Disaster Relief and Emergency Act 
(42 U.S.C. 5121 et seq.) resulting from Hurricane Katrina or Rita that 
received project-based assistance under section 8 or 9 of the United 
States Housing Act of 1937, section 801 or 811 of the Cranston-Gonzalez 
National Affordable Housing Act, the AIDS Housing Opportunity Act, or 
the Stewart B. McKinney Homeless Assistance Act: Provided, That the 
Secretary shall report to the Committees on Appropriations on the status 
of all such housing, including costs associated with any repair or 
rehabilitation, within 120 days of enactment of this Act.] (Emergency 
Supplemental Appropriations Act to Address Hurricanes in the Gulf of 
Mexico and Pandemic Influenza, 2006.)

                                

                      General Fund Receipt Accounts

                           (in millions of dollars)

----------------------------------------------------------------------------
                                         2005 actual   2006 est.   2007 est.
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Offsetting receipts from the public:
  86-271910  FHA-general and special 
    risk, Negative subsidies............         266         300         438
    Legislative proposal, not subject to 
      PAYGO.............................                                -223
  86-271930  FHA-general and special 
    risk, Downward reestimates of 
    subsidies...........................         208         297
  86-274330  Indian housing loan 
    guarantees, Downward reestimates of 
    subsidies...........................           4           1
  86-276230  Title VI indian loan 
    guarantee downward reestimate.......                       2
  86-277330  Community development loan 
    guarantees, Downward reestimates....          15           6
  86-277810  Mutual mortgage insurance 
    program, negative subsidies: 
    Legislative proposal, not subject to 
    PAYGO...............................                                 845
                                           ---------   ---------  ----------
General Fund Offsetting receipts from 
 the public.............................         493         606       1,060
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