[Congressional Record Volume 140, Number 97 (Friday, July 22, 1994)]
[House]
[Page H]
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[Congressional Record: July 22, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
INCLUSION IN THE RECORD OF REPORT OF THE CONGRESSIONAL BUDGET OFFICE ON 
                               H.R. 3838

  Mr. GONZALEZ. Mr. Speaker, I ask unanimous consent that a report of 
the Congressional Budget Office on H.R. 3838, the bill just approved, 
along with a chart showing the funding levels authorized by the Housing 
and Community Development Act, be printed in the Record at this point.
  Mr. Speaker, H.R. 3838 was marked up by the Committee on Banking on 
June 16 and reported on July 15. We were, of course, concerned with 
identifying any direct spending which may have inadvertently crept into 
the bill.
  We received the CBO report late Wednesday, July 20. It found three 
instances of direct spending in the bill: Section 159, financing and 
restructuring underlying debt for projects with extiring section 8 
contracts, section 408, extension of multifamily housing mortgage 
auction procedures; and section 416, calculation of credit subsidy for 
FHA refinancings and offset of negative subsidies.
  To cure these direct spending provisions, the managers amendment 
which was accepted yesterday, struck from the bill section 416; and 
made sections 159 and 408 subject to appropriations.
  All three of these provisions are intended to help HUD and the 
American taxpayer save costs by refinancing high interest rate 
mortgages, continuing a mortgage auction program, and permitting 
savings from refinanced HUD-insured mortgages offset losses under other 
FHA programs in both the general insurance and mutual mortgage 
insurance funds. The committee thought it was doing the right thing in 
all three instances. But, obviously, under CBO scoring, that was not 
the case.
  The SPEAKER pro tempore (Mr. Moran). Is there objection to the 
request of the gentleman from Texas?
  There was no objection.
  Mr. GONZALEZ. Mr. Speaker, the report to which I just referred is as 
follows:


                                  Congressional Budget Office,

                                    Washington, DC, July 20, 1994.
     Hon. Henry B. Gonzalez,
     Chairman, Committee on Banking, Finance and Urban Affairs, 
         House of Representatives, Washington, DC.
       Dear Mr. Chairman: The Congressional Budget Office has 
     prepared the attached cost estimate for H.R. 3838, the 
     Housing and Community Development Act of 1994.
       Because H.R. 3838 would affect direct spending and 
     receipts, it would be subject to pay-as-you-go procedures 
     under the Balanced Budget and Emergency Deficit Control Act 
     of 1985.
       If you wish further details on this estimate, we will be 
     pleased to provide them.
           Sincerely,
                                                    James L. Blum,
                                       (For Robert D. Reischauer).

               Congressional Budget Office--Cost Estimate

       1. Bill number: H.R. 3838.
       2. Bill title: Housing and Community Development Act of 
     1994.
       3. Bill status: Reported by the House Committee on Banking, 
     Finance and Urban Affairs on July 15, 1994.
       4. Bill purpose: H.R. 3838 would amend and extend certain 
     laws that relate to the federal government's housing and 
     community development programs and would authorize 
     appropriations for these programs. Procedures would also be 
     established for the renewal of Section 8 new construction 
     rental assistance contracts. In addition, this bill includes 
     a number of changes to the Federal Housing Administration's 
     (FHA's) single-family and multifamily mortgage insurance 
     programs.
       5. Estimated cost to the Federal Government:

------------------------------------------------------------------------
                               1995     1996     1997     1998     1999 
------------------------------------------------------------------------
     AUTHORIZATIONS OF                                                  
       APPROPRIATIONS                                                   
                                                                        
Estimated authorization                                                 
 level.....................   31,772   33,829    1,016    1,669    2,998
Estimated outlays..........    3,449   10,377   13,265   10,882    9,047
                                                                        
      DIRECT SPENDING                                                   
                                                                        
Title I--Refinancing high                                               
 interest multifamily                                                   
 mortgages:                                                             
    Estimated budget                                                    
     authority.............       -2      -27      -27      -27      -27
    Estimated outlays......       -2      -27      -27      -27      -27
Title I--Restructuring                                                  
 multifamily mortgages:                                                 
    Estimated budget                                                    
     authority.............      230                                    
    Estimated outlays......      230                                    
Title IV--Single-family                                                 
 mortgage insurance:                                                    
    Estimated budget                                                    
     authority.............      -45      -53      -52      -52      -48
    Estimated outlays......      -45      -53      -52      -52      -48
Title IV--Multifamily                                                   
 mortgage insurance:                                                    
    Estimated budget                                                    
     Authority.............               220                           
    Estimated outlays......               220                           
Title IV--Single-family                                                 
 mortgage foreclosure act:                                              
    Estimated budget                                                    
     authority.............      -10       -4       -5       -5       -5
    Estimated outlays......      -10       -4       -5       -5       -5
Total direct spending:                                                  
    Estimated budget                                                    
     authority.............      173      136      -84      -84      -80
    Estimated outlays......      173      136      -84      -84      -80
                                                                        
          REVENUES                                                      
                                                                        
Receipts from civil                                                     
 penalties.................      (1)      (1)      (1)      (1)      (1)
------------------------------------------------------------------------
\1\Less than $500,000.                                                  

       The costs of this bill fall within budget functions 370, 
     450, 600, and 750.
       Basis of Estimate: CBO assumes that H.R. 3838 would be 
     enacted by October 1, 1994, and that the authorized funds 
     would be appropriated for each year. For existing programs, 
     outlays are estimated based on historical spending rates.


                      Title I--Housing Assistance

       Rental assistance and public housing programs: Title I 
     would authorize the appropriation of an estimated $9.6 
     billion for the Department of Housing and Urban Development's 
     (HUD's) low-income rental assistance and public housing 
     programs in 1995. Another $9.8 billion would be authorized 
     for 1996. Of these amounts, $2.7 billion in 1995 and $2.8 
     billion in 1996 would provide Section 8 rental assistance for 
     previously unaided units. The bill also would authorize about 
     $4.7 billion in 1995 and $4.8 billion in 1996 for HUD's 
     public housing program. Most of the public housing funding 
     would be for the modernization and renovation of existing 
     units. In addition, the bill would authorize the 
     appropriation of such sums as may be necessary in 1995 and 
     1996 for currently underfunded Section 8 and public housing 
     contracts. This estimate includes about $1 billion in each 
     year for this purpose, based on the 1994 appropriations.
       Title I also would authorize appropriations of over $5 
     billion for 1995 and $6 billion for 1996 to renew Section 8 
     contracts that apply to existing housing and that will expire 
     in those years. In addition, the bill would establish 
     procedures and authorize the appropriation of funds for 
     renewing Section 8 contracts for new construction and 
     substantial rehabilitation assistance that will expire in 
     1995 and later years. Spending for renewing these latter 
     contracts would be small initially, but would grow 
     significantly as more and more contracts reach the end of 
     their terms.
       Public housing operating subsidies: The bill would 
     authorize appropriations of $3.1 billion for 1995 and $3.2 
     billion for 1996 for public housing operating subsidies. In 
     addition, the bill would authorize the appropriation of such 
     sums as may be necessary to offset the funding reductions 
     proposed in HUD's budget submission to reflect certain cost 
     savings anticipated by the Administration. CBO has included 
     the department's fiscal year 1995 budget estimate for this 
     amount in 1995 and the same amount adjusted for inflation for 
     1996--an increment of about $0.1 billion in each year. This 
     estimate also includes another $0.2 billion for each of the 
     years 1995 and 1996 to cover the costs of the changes in 
     public housing rents that are mandated in the bill. These 
     amounts are based on information received from HUD.
       Other authorizations: Title I would authorize 
     appropriations totaling $1.2 billion for 1995 and $1.4 
     billion for 1996 for several other programs. Principal among 
     these are HUD's subsidized housing preservation program and a 
     new anti-crime program.
       Refinancing high interest multifamily mortgages: The bill 
     would allow HUD to pay the up-front costs of refinancing FHA-
     insured multifamily housing mortgages, thus encouraging more 
     owners to refinance their mortgages. Because many of the 
     outstanding mortgages were financed at interest rates higher 
     than those currently available, refinancing would permit 
     lower rents and thus reduced federal costs for Section 8 
     rental assistance associated with these projects. Savings for 
     1995 would be small, but we estimate that savings totaling 
     $110 million in outlays for Section 8 assistance would be 
     achieved over the 1995-1999 period. Because this provision 
     would affect spending from previously appropriated funds, the 
     savings would be considered direct spending.
       Restructuring multifamily mortgages: Section 159 would 
     require the owners of certain FHA-insured multifamily 
     properties to restructure and refinance their mortgages prior 
     to receiving Section 8 assistance under a newly executed 
     contract. CBO estimates that the restructuring of such debt 
     would result in increased costs to the General and Special 
     Risk Insurance (GI/SRI) liquidating account because FHA would 
     have to pay to the original lender any shortfall between the 
     new principal and the old balance. We expect that Section 8 
     contracts for about 400,000 FHA-insured multifamily units 
     will expire over the next 30 years. Under credit reform 
     procedures, the costs for buying down debt over this period 
     are measured on a present value basis. CBO estimates that 
     such costs to the GI/SRI fund would total about $230 million 
     and would be reflected as direct spending outlays in fiscal 
     year 1995.
       The table on page 5 displays CBO's estimate of the 
     budgetary impact of title I.


                 Title II--Home Investment Partnerships

       Title II would authorize appropriations of $1.8 billion for 
     1995 and $2.0 billion for 1996 to fund HUD's Home Investment 
     Partnership program. The estimated budgetary impact of this 
     title is summarized in the following table.

                 ESTIMATED BUDGETARY IMPACT OF TITLE II                 
                [By fiscal year, in millions of dollars]                
------------------------------------------------------------------------
                                   1995    1996    1997    1998    1999 
------------------------------------------------------------------------
AUTHORIZATIONS OF APPROPRIATIONS                                        
                                                                        
HOME investment partnership:                                            
    Authorized level............   1,775   2,000                        
    Estimated outlays...........      35     206     832   1,132     955
                                                                        
------------------------------------------------------------------------


                  ESTIMATED BUDGETARY IMPACT OF TITLE I                 
                [By fiscal year, in millions of dollars]                
------------------------------------------------------------------------
                              1995     1996     1997     1998      1999 
------------------------------------------------------------------------
     Authorizations of                                                  
       appropriations                                                   
                                                                        
Low-income housing                                                      
 authorizations:                                                        
    Estimated authorization                                             
     level.................    9,584    9,817                           
    Estimated outlays......       22      983    2,602    3,176    3,065
Existing section 8 contract                                             
 renewals:                                                              
    Authorization level....    5,092    6,000                           
    Estimated outlays......      354    1,080    1,586    1,755    1,802
Section 8 contract                                                      
 renewals--new construction                                             
 and substantial                                                        
 rehabilitation:                                                        
    Estimated authorization                                             
     level.................       45      220      952    1,671    3,000
    Estimated outlays......        3       20       96      273      593
Public housing operating                                                
 subsidies:                                                             
    Authorization level....    3,454    3,522                           
    Estimated outlays......    1,589    3,423    1,901       63        0
HOPE program:                                                           
    Authorization level....      100      100                           
    Estimated outlays......        1       31       55       42       28
National home ownership                                                 
 fund:                                                                  
    Authorization level....      115      215                           
    Estimated outlays......        1       83      184       62        0
Partnerships against crime:                                             
    Authorization level....      300      325                           
    Estimated outlays......       21      173      291      140        0
Preservation:                                                           
    Authorization level....      400      450                           
    Estimated outlays......        4       40       97      119      119
Miscellaneous                                                           
 authorizations:                                                        
    Authorization level....      254      261                           
    Estimated outlays......        2      101      175      111       42
Total authorizations--title                                             
 I:                                                                     
    Estimated authorization                                             
     level.................   19,344   20,910      952    1,671    3,000
    Estimated outlays......    1,997    5,934    6,987    5,741    5,649
                                                                        
      DIRECT SPENDING                                                   
                                                                        
Refinancing and                                                         
 restructuring multifamily                                              
 mortgages:                                                             
    Estimated budget                                                    
     authority.............      228      -27      -27      -27      -27
    Estimated outlays......      228      -27      -27      -27      -27
------------------------------------------------------------------------

                 title iii--supportive housing programs

       The bill would authorize appropriations totaling about 
     $1.95 billion for each of the years 1995 and 1996 for HUD's 
     housing assistance programs for the elderly and disabled. 
     These programs provide both construction grants and rental 
     assistance for the benefit of low-income individuals and 
     households eligible under the provisions of section 202 of 
     the Housing Act of 1959 and section 811 of the Cranston-
     Gonzalez National Affordable housing Act (NAHA). CBO 
     estimates that the amounts authorized for 1995 and 1996 would 
     support 9,000 housing units and 8,600 housing units, 
     respectively. The estimate of outlays assumes funding would 
     be provided for both the construction of housing units and 
     rental assistance for the tenants who eventually would live 
     there.
       Appropriations of $212 million and $225 million would be 
     authorized for 1995 and 1996 respectively to fund HUD's 
     housing program for persons with AIDS. The program provides 
     direct rental assistance and funding for other housing-
     related costs. Based on recent HUD experience, this estimate 
     assumes that 20 percent of available funds would go towards 
     rental assistance commitments and the balance would provide 
     for the other uses authorized in title VIII of NAHA.
       The bill also would authorize appropriations for two other 
     programs, congregate services and elderly independence. In 
     addition, it would authorize such sums as may be necessary 
     for service coordinators in certain multifamily housing 
     projects. For the purposes of this estimate, the amount 
     appropriated for service coordinators for 1994 ($10 million), 
     adjusted for inflation, was used. These three items are 
     included in the ``Other'' category in the following table, 
     which summarizes the budgetary impact of title III.

                 ESTIMATED BUDGETARY IMPACT OF TITLE III                
                [By fiscal year, in millions of dollars]                
------------------------------------------------------------------------
                                   1995    1996    1997    1998    1999 
------------------------------------------------------------------------
AUTHORIZATIONS OF APPROPRIATIONS                                        
                                                                        
Supportive housing:                                                     
    Authorization level.........   1,948   1,954                        
    Estimated outlays...........              78     275     531     970
AID assistance:                                                         
    Authorization level.........     212     225                        
    Estimated outlays...........       4      77     140      87      43
Other authorizations:                                                   
    Authorization level.........      67      69                        
    Estimated outlays...........       1      17      34      33      26
Total authorizations--title III:                                        
    Authorization level.........   2,227   2,248                        
    Estimated outlays...........       5     172     448     651   1,039
------------------------------------------------------------------------

     title iv--mortgage insurance and the secondary mortgage market

       Single-family mortgage insurance: The bill would increase 
     the limit on FHA-insured loans to $172,678 in high-cost areas 
     and to $101,575 for all other areas. This change would 
     generate additional offsetting receipts because FHA would 
     insure more single-family mortgages. Guarantees of such 
     mortgages result in offsetting receipts on the budget because 
     the credit subsidies are estimated to be negative. CBO 
     estimates that, over the 1995-1999 period, this provision 
     would result in a net outlay reduction, and a decrease in 
     direct spending, of about $215 million.
       In addition, the bill would extend and expand the Home 
     Equity Conversion Mortgage Program, thus adding about $1 
     billion in insurance mortgages to the FHA portfolio over the 
     next five years. These mortgages also carry negative 
     subsidies. Therefore, CBO estimates that this provision would 
     result in a reduction in direct spending of about $35 million 
     over the 1996-1999 period.
       The bill also would allow certain loans from FHA's 
     assignment portfolio to be refinanced through private lenders 
     with insurance from FHA's single-family insurance program. 
     Reinsuring loans from the assignment portfolio would reduce 
     HUD's administrative costs for servicing those loans. (Under 
     current law, HUD can reduce interest rates on certain single-
     family mortgages in order to prevent foreclosure, but 
     these adjusted loans remain in HUD's assignment program 
     until completion of their term.) CBO estimates that this 
     provision would result in no net savings in subsidy costs, 
     but would enable HUD to redirect some of its 
     administrative resources towards other loan servicing 
     activities.
       This title also would enable HUD and state or local 
     governments to insure jointly up to 35 percent of the 
     outstanding principal balance of a mortgage. This provision 
     would apply to mortgages with a principal balance above the 
     FHA limits, but not exceeding $203,150. The program would be 
     targeted at areas where the FHA insurance limit is not 
     sufficient to meet the needs of homebuyers. The bill would 
     require the Secretary to establish policies and procedures 
     for sharing premiums with states or local agencies so as to 
     take into account the extent to which they share in the risk. 
     CBO expects that HUD would seek to operate an actuarially 
     sound program. If the agency is accurate in assessing the 
     risks, we anticipate that the program would operate at no net 
     cost to the government. The new program's true actuarial 
     soundness and any potential cost cannot be assessed until the 
     details of the joint arrangements are defined clearly.
       Multifamily insurance programs: The bill would extend from 
     September 30, 1995, to December 31, 2005, HUD's authority to 
     sell mortgage loans it acquires as the result of mortgage 
     insurance issued under section 221 of the National Housing 
     Act. Under current law, lenders can assign these loans to FHA 
     after 20 years and receive full payment of the outstanding 
     principal. HUD has the option of auctioning such loans 
     instead of keeping them in the assignment program. The 
     successful bidder receives a monthly subsidy from FHA 
     reflecting the difference between the government's cost of 
     borrowing and the market interest rate established through 
     the auction.
       CBO expects that about 680 mortgages with a total 
     outstanding balance of about $1 billion would be assigned to 
     and auctioned by HUD over the 1996-1999 period. In accordance 
     with credit reform scorekeeping procedures, the cost 
     associated with exercising the auction option are measured in 
     terms of increased credit subsidies for the difference 
     between the government's cost of money and the market rate, 
     estimated on a present value basis. CBO estimates that about 
     $220 million in additional subsidy costs from the auctioning 
     of these notes would be attributed to FHA's General and 
     Special Risk Insurance liquidating account. This amount would 
     be scored as direct spending in fiscal year 1996.
       Single-Family Mortgage Foreclosure Act: Enactment of the 
     Single Family Mortgage Foreclosure Act of 1994 would enable 
     HUD to foreclose on properties in a more expeditious and 
     efficient manner and without judicial action. As a result, 
     HUD expects that the foreclosure process would be shortened 
     by about eight months and its holding costs would decrease. 
     In accordance with credit reform scorekeeping procedures, the 
     savings associated with decreased holding costs are measured 
     in terms of decreased credit subsidies, estimated on a 
     present value basis. CBO estimates that savings of about $1 
     million would be attributed to the GI/SRI liquidating account 
     and $9 million would be attributed to the Mutual Mortgage 
     Insurance (MMI) liquidating account. These amounts would be 
     reductions in direct spending in fiscal year 1995.
       This provision also would affect property that HUD may 
     obtain in the future as the result of FHA guarantees made 
     starting in fiscal year 1996. With the ability to make more 
     rapid sales each year, recoveries would increase, resulting 
     in a lower subsidy rate for the single-family programs. As a 
     result, CBO estimates that the GI/SRI single-family program 
     would generate additional receipts of $7 million over the 
     1996-1999 period, which would apply to discretionary 
     spending. The MMI single-family program would generate an 
     additional $20 million in receipts over this same period; 
     these receipts would be considered direct spending savings.
       Authorizations of appropriations: This bill would authorize 
     FHA to insure $105 billion of mortgages in 1995 and $91 
     billion in 1996, subject to appropriations acts. CBO 
     estimates that HUD would require appropriations of about $140 
     million in 1995 and about $40 million in 1996 to cover the 
     subsidy costs associated with these commitment levels. These 
     costs could vary depending on how HUD eventually distributes 
     commitment authority among its programs.
       H.R. 3838 would extend HUD's risk-sharing pilot program 
     through fiscal year 1996 and its housing finance agency pilot 
     program through fiscal year 1997. CBO estimates that 
     extension of these two programs would cost $80 million over 
     the next three fiscal years. This assumes that 4,375 units in 
     fiscal year 1995, 14,375 units in fiscal year 1996, and 
     10,000 units in fiscal year 1997 would be insured under these 
     programs, and that the subsidy rates would be approximately 2 
     percent for the risk-sharing pilot program and approximately 
     9 percent for the housing finance agency pilot program. 
     Estimated outlays would equal budget authority because all of 
     the funding would be used each year. These costs are measured 
     on a present value basis and would need to be funded in 
     future appropriation acts.
       The bill also would authorize appropriations of $1 million 
     in fiscal year 1995 to create a National Commission on the 
     Future of FHA and $50 million in each of the fiscal years 
     1995 and 1996 for Indian housing loan guarantees.
       Calculation of credit subsidies: Section 416 would change 
     procedures for calculating the credit subsidy for FHA 
     refinancings and for guarantees made by FHA's General 
     Insurance Fund. For refinancings, the bill specifies that the 
     subsidy cost or savings be determined by applying the subsidy 
     rate only to any increase in outstanding principal. (Under 
     current law, the subsidy estimate has to be based on the full 
     principal balance of the refinanced loan.) CBO believes that 
     this provision could provide FHA with direct spending 
     authority above that provided under current law, but we do 
     not yet have sufficient information to estimate the 
     budgetary impact.
       The bill also would permit FHA to calculate subsidy costs 
     by subtracting the aggregate amount of negative subsidies 
     from the aggregate amount of positive subsidies for that 
     fiscal year. This may cause FHA to use an aggregate subsidy 
     rate instead of individual rates for specific components of 
     its programs. As a result, it is possible that the 
     appropriated subsidies would understate the costs of FHA's 
     mortgage insurance programs.

                 ESTIMATED BUDGETARY IMPACT OF TITLE IV                 
                [By fiscal year, in millions of dollars]                
------------------------------------------------------------------------
                                   1995    1996    1997    1998    1999 
------------------------------------------------------------------------
         DIRECT SPENDING                                                
                                                                        
Changes in FHA programs:                                                
    Estimated budget authority..     -55     163     -57     -57     -53
    Estimated outlays...........     -55     163     -57     -57     -53
AUTHORIZATIONS OF APPROPRIATIONS                                        
                                                                        
Subsidy authorization:                                                  
    Estimated authorization                                             
     level......................     140      40                        
    Estimated outlays...........      96      72      12                
Other authorizations:                                                   
    Authorization level.........      55      88      34      -2      -2
    Estimated outlays...........      39      88      50      -2      -2
Total authorizations--title IV:                                         
    Estimated authorization                                             
     level......................     195     128      34      -2      -2
    Estimated outlays...........     135     160      62      -2     -2 
------------------------------------------------------------------------

                         title v--rural housing

       This title would authorize 1995 appropriations to cover 
     $3.2 billion of mortgage loans made or guaranteed by the 
     Farmers Home Administration (FmHA). Of this amount, $1.8 
     billion would be available to assist low-income home buyers 
     and about $0.6 billion would finance low-income rental 
     housing. Almost $0.8 billion would be allocated for 
     unsubsidized single-family guaranteed loans. The balance 
     would be distributed among several much smaller loan 
     programs. Appropriations of another $3.4 billion would be 
     authorized for use in 1996. Again, over half, $1.9 billion 
     would be loans for low-income home buyers. Over $0.6 billion 
     is meant for low-income rental units, $0.8 billion for 
     unsubsidized single-family guaranteed loans, and the 
     remainder distributed among the smaller programs.
       A portion of the authorized funds would be used for a new 
     program of FmHA guarantees of private loans made to finance 
     multifamily housing. These loans would carry market interest 
     rates. Twenty percent of these loans would receive an 
     interest subsidy sufficient to reduce the effective cost to 
     that of the federal government's long-term borrowing.
       The amounts in the table below for the rural housing loans 
     program are estimates of the subsidy appropriations necessary 
     to cover the federal costs of the direct and guaranteed loan 
     programs discussed above. The subsidy rates for the major 
     programs range from about 20 percent to about 55 percent of 
     the gross loan amounts.
       This title also would authorize appropriations for 1995 and 
     1996 to fund FmHA's housing support grants program, rural 
     rental assistance program, and vouchers, another form of 
     rental assistance. The following table shows the estimated 
     budgetary impact of title V.

                  ESTIMATED BUDGETARY IMPACT OF TITLE V                 
                [By fiscal year, in millions of dollars]                
------------------------------------------------------------------------
                                   1995    1996    1997    1998    1999 
------------------------------------------------------------------------
AUTHORIZATIONS OF APPROPRIATIONS                                        
                                                                        
Rural housing loan program:                                             
    Estimated authorization                                             
     level......................     705     773                        
    Estimated outlays...........     363     673     345      63      21
Rural support grants:                                                   
    Authorization level.........     142     141                        
    Estimated outlays...........      37      87      86      43      14
Rural rental assistance:                                                
    Authorization level.........     467     481                        
    Estimated outlays...........      23      82     125     133     137
Rural vouchers:                                                         
    Authorization level.........      30      40                        
    Estimated outlays...........       0       0       6      13      13
Total authorizations--title V:                                          
    Authorization level.........   1,344   1,435                        
    Estimated outlays...........     423     842     562     252     185
------------------------------------------------------------------------

                    Title VI--Community Development

       Title VI would authorize appropriations of approximately $5 
     billion a year in fiscal years 1995 and 1996 for community 
     development programs. Most of these funds would be for the 
     Community Development Block Grant (CDBG) program. Within 
     CDBG, $60 million per fiscal year 1995 and 1996 would be 
     authorized for special purpose grants, such as for technical 
     assistance, insular areas, and a fire-suppression program in 
     ten metropolitan areas. The bill also would provide for $2.1 
     billion a year in fiscal years 1995 and 1996 for CDBG Section 
     108 loan guarantees. CBO estimates that these guarantees 
     would be made at no budgetary cost to the federal government 
     because they are considered to have no subsidy cost 
     associated with them.
       Along with authorizations for the CDBG program and the 
     Section 108 loan guarantees, subtitle A of title VI would 
     authorize funding of $100 million per year in fiscal years 
     1995 and 1996 for economic development grants. This program 
     would provide communities with grants to be used in tandem 
     with Section 108 guaranteed loans for economic revitalization 
     projects.
       Subtitle B of title VI would create and authorize funding 
     for several new programs as well as authorize funding for the 
     existing Neighborhood Reinvestment Corporation (NRC), the 
     National Community Development Initiative (NCDI), and the 
     John Heinz Neighborhood Development programs. Title VI would 
     authorize $35 million a year for fiscal years 1995 and 1996 
     for the NRC, $60 million a year in 1995 and 1996 for the 
     NCDI, and $10 million a year for 1995 and 1996 for the John 
     Heinz program. CBO estimates that these funds would be spent 
     at historical spending rates for these programs, or, in the 
     case of the John Heinz Neighborhood Development program, at a 
     rate similar to the CDBG program.
       New programs would include grants given to units of local 
     government that are designated as either Empowerment Zones or 
     Enterprise Communities, and would be authorized at $250 
     million a year for fiscal years 1995 and 1996. The Colonial 
     Assistance Program, authorized at $100 million a year for 
     1995 and 1996, would provide grants to organizations and 
     state and local governments within the states of California, 
     Arizona, New Mexico, and Texas that address the housing and 
     community development needs of communities along the United 
     States-Mexico border.
       The final section of title VI would allow four cities to 
     either use their urban development action grants for another 
     purpose or cancel their indebtedness to HUD relating to the 
     urban renewal and public facilities programs. While the 
     transfer of grant funds requires no authorization of funds, 
     the bill would authorize the appropriation of approximately 
     $3 million to implement the cancellation of indebtedness.

                 ESTIMATED BUDGETARY IMPACT OF TITLE VI                 
                [By fiscal year, in millions of dollars]                
------------------------------------------------------------------------
                                   1995    1996    1997    1998    1999 
------------------------------------------------------------------------
AUTHORIZATIONS OF APPROPRIATIONS                                        
Community development block                                             
 grants:                                                                
    Authorization level.........   4,400   4,500  ......  ......        
    Estimated outlays...........     176   1,984   3,649   2,461     630
Economic development grants:                                            
    Authorization level.........     100     100  ......  ......  ......
    Estimated outlays...........       4      45      82      55      14
Neighborhood reinvestment                                               
 corporation:                                                           
    Authorization level.........      35      35  ......  ......  ......
    Estimated outlays...........      35      35  ......  ......  ......
National community development                                          
 initiative:                                                            
    Authorization level.........      60      60  ......  ......  ......
    Estimated outlays...........       6      30      48      30       6
Neighborhood development                                                
 program:                                                               
    Authorization level.........      10      10  ......  ......  ......
    Estimated outlays...........       1       4       8       6       1
Empowerment zone/enterprise                                             
 community:                                                             
    Authorization level.........     250     250  ......  ......  ......
    Estimated outlays...........       1       9      20      30      43
Colonias assistance program:                                            
    Authorization level.........     100     100  ......  ......  ......
    Estimated outlays...........       4      45      82      55      14
Total authorizations--title VI:                                         
    Authorization level.........   4,955   5,055  ......  ......  ......
    Estimated outlays...........     227   2,152   3,889   2,637     708
------------------------------------------------------------------------

            Title VII--Regulatory and Miscellaneous Programs

       Fair housing: Section 701 would authorize appropriations of 
     $26 million for fiscal year 1995 and $27 million for fiscal 
     year 1996 for HUD's fair housing activities.
       Administrative expenses: Section 703 would authorize such 
     sums as may be necessary for each of fiscal years 1995 and 
     1996 for salaries and expenses of HUD. CBO estimates this 
     amount to be $478 million in fiscal year 1995 and $505 
     million in fiscal year 1996, reflecting the 1994 
     appropriation adjusted for projected inflation.
       In addition, $40 million is authorized in fiscal year 1996 
     for training and professional development of HUD employees.
       Research and development: Section 709 would authorize $40 
     million in fiscal year 1995 and $42 million in fiscal year 
     1996 for HUD research and development. CBO assumes these 
     funds would be spent at the historical rate for research and 
     development.
       Affordable housing: Section 721 would extend the current 
     $30 million authorization for the affordable housing program 
     at the Federal Deposit Insurance Corporation (FDIC) for two 
     more years--1996 and 1997. The program allows the FDIC to 
     sell suitable properties in its inventory to qualified, low-
     income buyers at below-market prices. The 1994 appropriation 
     is $7 million, and the President has requested $15 million 
     for 1995.
       Lead-based hazard reduction: Section 712 would authorize 
     the appropriation of $100 million for each of the fiscal year 
     1995 and 1996 to fund HUD's lead-based hazard reduction 
     program.
       Other programs: Section 702 would authorize appropriations 
     of such sums as may be necessary for each of fiscal years 
     1995 and 1996 for program monitoring evaluation. CBO 
     estimates this cost to be $8 million each year.
       Section 711 of title VII would authorize $2 million for 
     each of fiscal years 1995 and 1996 for the National Institute 
     of Building Sciences (NIBS).
       Section 716 would authorize appropriations of such sums as 
     may be necessary for the New Towns Demonstration Program for 
     fiscal years 1995 and 1996. CBO estimates that this title 
     would authorize about $32 million each fiscal year. Section 
     717 would authorize a grant of $2.5 million for the city of 
     Springfield, Massachusetts, in fiscal year 1995 for the 
     redevelopment of a former U.S. Post Office building. In order 
     to receive these funds, the city must contribute at least 25 
     percent of the total cost of the project. CBO estimates that 
     these programs would spend out at rates historically similar 
     to other HUD community development programs.
       Sections 718 and 719 would authorize the appropriation of 
     $6 million for both fiscal years 1995 and 1996 for the 
     National American Indian Housing Council and the Housing 
     Assistance Council.
       Section 720 would authorize the Secretary of HUD to provide 
     technical advice and assistance to Maryland Energy Advocates 
     to carry out a demonstration program. CBO estimates that this 
     program would cost the federal government no more than 
     $300,000, to be spent over fiscal years 1995 and 1997.
       Civil penalties: Section 714 would provide for civil 
     penalties against non-supervised lending institutions that 
     fail to comply with the Home Mortgage Disclosure Act 
     reporting requirements. Payments of these civil penalties 
     would be recorded as miscellaneous receipts to the Treasury. 
     CBO expects that any increase in penalty collections would be 
     insignificant.

                 ESTIMATED BUDGETARY IMPACT OF TITLE VII                
                [By fiscal year, in millions of dollars]                
------------------------------------------------------------------------
                                        1995   1996   1997   1998   1999
------------------------------------------------------------------------
   AUTHORIZATIONS OF APPROPRIATIONS                                     
                                                                        
Fair Housing:                                                           
    Authorization level..............     26     27  .....  .....  .....
    Estimated outlays................      0      9     22     17      5
Salaries and expenses:                                                  
    Authorization level..............    478    505  .....  .....  .....
    Estimated outlays................    397    501     86  .....  .....
Research and development:                                               
    Authorization level..............     40     42  .....  .....  .....
    Estimated outlays................     16     37     25      4  .....
Affordable housing:                                                     
    Authorization level..............  .....     30     30  .....  .....
    Estimated outlays................  .....     23     30      7  .....
Lead-based hazard reduction:                                            
    Authorization level..............    100    100  .....  .....  .....
    Estimated outlays................      0     10     41     53     42
Other programs:                                                         
    Authorization level..............     51     48  .....  .....  .....
    Estimated outlays................     19     26     19     16     13
Total authorizations--title VII:                                        
    Authorization level..............    695    752     30  .....  .....
    Estimated outlays................    432    606    223     97     60
                                                                        
               REVENUES                                                 
                                                                        
Receipts from civil penalties........  (\1\)  (\1\)  (\1\)  (\1\)  (\1\)
                                                                        
------------------------------------------------------------------------
\1\Less than $500,000.                                                  

    title viii--housing programs under stewart b. mckinney homeless 
                             assistance act

       This title would establish a new grant program through 
     which much of the homeless housing assistance associated with 
     the McKinney homeless programs would be administered. Grants 
     could be provided to states, Indian tribes, local 
     governments, public agencies, and others designated by HUD. 
     The bill would authorize the appropriation of $0.6 billion 
     for use in 1995 and $0.8 billion for 1996. Outlays shown in 
     the table below are based on a general mix of the activities 
     specified in the bill.
       The Innovative Homeless Program was established in the HUD 
     Demonstration Act of 1993. The estimated outlays shown below 
     reflect the time necessary to develop, implement, and carry 
     out the innovative strategies required by the program.
       The bill would authorize appropriations for several other 
     programs, as shown in the table below.

                ESTIMATED BUDGETARY IMPACT OF TITLE VIII                
                [By fiscal year, in millions of dollars]                
------------------------------------------------------------------------
                                   1995    1996    1997    1998    1999 
------------------------------------------------------------------------
AUTHORIZATIONS OF APPROPRIATIONS                                        
                                                                        
Flexible grant program:                                                 
    Authorization level.........     635     787  ......  ......  ......
    Estimated outlays...........       0      83     204     297     377
Innovative homeless program:                                            
    Authorization level.........     100  ......  ......  ......  ......
    Estimated outlays...........       0      12      25      25      15
Section 8 single room occupancy:                                        
    Authorization level.........     275     281  ......  ......  ......
    Estimated outlays...........       0       6      22      37      43
Federal emergency management                                            
 agency food and shelter                                                
 program:                                                               
    Authorization level.........     193     199  ......  ......  ......
    Estimated outlays...........     193     199  ......  ......  ......
Other authorizations:                                                   
    Authorization level.........      34      35  ......  ......  ......
    Estimated outlays...........       1       6      10      14      17
Total authorizations--title                                             
 VIII:                                                                  
    Authorization level.........   1,237   1,301  ......  ......  ......
    Estimated outlays...........     195     305     261     374     453
------------------------------------------------------------------------

       6. Pay-as-you-go considerations: Section 252 of the 
     Balanced Budget and Emergency Deficit Control Act of 1985 
     sets up pay-as-you-go procedures for legislation affecting 
     direct spending or receipts through 1998. Several provisions 
     in the bill would affect direct spending, resulting in a net 
     increase of $141 million in outlays over the 1995-1998 
     period. Any change in receipts resulting from civil penalties 
     established by the bill would be negligible.
       The following table summarizes CBO's estimate of the pay-
     as-you-go impact of H.R. 3838. These estimates do not include 
     the effects of section 416, which would modify the procedures 
     for calculating credit subsidies for FHA programs. CBO does 
     not yet have an estimate of the impact of that section.

------------------------------------------------------------------------
                                       1995     1996     1997     1998  
------------------------------------------------------------------------
Change in outlays...................      173      136      -84      -84
Change in receipts..................        0        0        0       0 
------------------------------------------------------------------------

       7. Estimated cost to State and local governments: None.
       8. Estimate comparison: None.
       9. Previous CBO estimate: None.
       10. Estimate prepared by: Susanne S. Mehlman, Rachael 
     Robertson, and Brent Shipp.
       11. Estimate approved by: C.G. Nuckols, Assistant Director 
     for Budget Analysis.

  Mr. GONZALEZ. Mr. Speaker, the chart showing the funding levels 
authorized by the Housing and Community Development Act to which I 
referred is as follows:

                                                        FUNDING COMPARISON--HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1994 (H.R. 3838), HOUSING AND COMMUNITY DEVELOPMENT PROGRAMS                                                       
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                       H.R. 3838 fiscal                  H.R. 3838 fiscal               
                        Programs                           Fiscal year 1994    Fiscal year 1994    Fiscal year 1995     Increment    H.R. 4624 HUD/VA/    Increment   year 1995 (rptd 6/    Increment   year 1996 (rptd 6/   Incremental
                                                            authorization           enacted        budget request\2\      units             IA              units            15/94            units            15/94            units   
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                           HUD                                                                                                                                                                                                          
                                                                                                                                                                                                                                        
Public and Indian housing and resident services:                                                                                                                                                                                        
    Public housing development..........................       $597,671,194      \1\478,800,000     \1\$150,000,000         1,754        $598,000,000         6,994        $598,000,000         6,994        $598,000,000         6,994 
    Indian housing development..........................        268,127,440      \1\263,000,000      \1\263,000,000         2,715      \1\263,000,000         2,715         263,000,000         2,715         264,000,000         2,715 
    Operating subsidy...................................      2,378,298,312       2,620,808,000       2,496,000,000   ............      2,900,000,000   ............      3,146,000,000   ............      3,208,000,000   ............
    Modernization.......................................      3,230,200,000    \1\3,230,000,000    \1\2,886,000,000   ............   \1\3,600,000,000   ............      3,230,000,000   ............      3,241,000,000   ............
        Resident opportunity program....................  ..................  ..................     \1\[85,000,000]  ............     \1\[85,000,000]  ............        [25,000,000]  ............        [25,000,000]  ............
        Emergency modernization.........................  ..................  ..................  ..................  ............  ..................  ............        [50,000,000]  ............        [50,000,000]  ............
    Severely distressed public housing..................        312,600,000         778,240,000         500,000,000   ............        500,000,000   ............        500,000,000   ............        550,000,000   ............
    MROP................................................       (20%PH Dev.)      \1\119,200,000   ..................  ............  ..................  ............        114,000,000   ............        120,000,000   ............
    One-for-one replacements............................  ..................  ..................  ..................  ............  ..................  ............        333,000,000   ............        274,000,000   ............
    Comm. partner. against crime (COMPAC)...............        182,350,000         265,000,000         265,000,000   ............        265,000,000   ............        300,000,000   ............        325,000,000   ............
    Family investment centers...........................         26,050,000       \1\25,675,000       \1\26,342,000   ............      \1\26,342,000   ............         50,000,000   ............         50,000,000   ............
    P.H. child care centers.............................         [5,210,000]        [15,000,000]        [35,000,000]  ............        [35,000,000]  ............         35,000,000   ............         35,000,000   ............
    Indian child care centers...........................  ..................  ..................  ..................  ............  ..................  ............          6,000,000   ............          6,000,000   ............
    One-stop perinatal services.........................            208,400   ..................  ..................  ............  ..................  ............        (such sums)   ............        (such sums)   ............
    Youthbuild..........................................         41,680,000         [48,000,000]         50,000,000   ............         50,000,000   ............         50,000,000   ............         50,000,000   ............
    Evaluation of 25 innovative PHA's...................  ..................  ..................  ..................  ............  ..................  ............          1,000,000   ............          1,000,000   ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
    Total, public and Indian housing....................      7,173,728,656       7,924,436,000       6,661,242,000         4,469       8,277,242,000         9,709       8,626,000,000         9,709       8,722,000,000         9,709 
                                                         ===============================================================================================================================================================================
Section 8 rental housing assistance:                                                                                                                                                                                                    
    lncremental assistance..............................      2,060,724,554    \1\1,326,865,000    \1\2,643,000,000        69,028    \1\2,643,000,000        69,028       2,674,000,000        80,000       2,800,000,000        80,000 
    Family unification/foster child care................        104,200,000       \1\77,401,000   ..................  ............      \1\77,401,000         2,146         [75,000,000]       [2,324]        [75,000,000]       [2,300]
    Pension fund........................................        100,000,000      \1\100,000,000   ..................       [4,028]    \1\[414,275,000]       [4,028]       [150,000,000]       [1,458]       [150,000,000]       [1,458]
    Homeless certificates...............................  ..................  ..................  ..................  ............       [514,275,000]      [15,000]  ..................  ............  ..................  ............
    Disabled units......................................  ..................  ..................  ..................  ............       [171,425,000]      [15,000]  ..................  ............  ..................  ............
Sec. 8 contract amendments..............................      1,406,700,000      \1\875,000,000    \1\2,202,100,000   ............   \1\1,202,100,000   ............        (such sums)   ............        (such sums)   ............
Sec. 8 contract renewals................................      7,029,473,670       5,278,106,000       5,092,000,000   ............      4,505,000,000   ............      5,092,000,000   ............      6,000,000,000   ............
    Lead-based paint....................................        250,000,000      \1\150,000,000      \1\100,000,000   ............     \1\150,000,000   ............        100,000,000   ............        110,000,000   ............
        Capacity building...............................  ..................  ..................  ..................  ............  ..................  ............         [3,000,000]  ............         [3,000,000]  ............
        Research........................................  ..................  ..................  ..................  ............  ..................  ............         [5,000,000]  ............         [5,000,000]  ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
          Total, section 8 rental assistance............     10,951,098,224       7,931,372,000      10,037,100,000        69,028       8,577,501,000        71,174       7,866,000,000        80,000       8,910,000,000        80,000 
                                                         ===============================================================================================================================================================================
Preservation of affordable housing:                                                                                                                                                                                                     
    Preservation........................................        665,059,401      \1\541,000,000     1,3[439,400,000]  ............     \1\100,000,000   ............        358,000,000   ............        450,000,000   ............
    Technical assistance................................  ..................  ..................  ..................  ............  ..................  ............        [20,000,000]  ............        [20,000,000]  ............
    Preservation grants.................................  ..................  ..................  ..................  ............  ..................  ............        [40,000,000]  ............        [40,000,000]  ............
    Flexible subsidy program............................         54,392,400          35,747,000          50,000,000   ............         50,000,000   ............         50,000,000   ............         55,000,000   ............
    Property disposition................................         96,939,344      \1\555,000,000     1,4[733,425,000]  ............        555,000,000   ............        691,000,000   ............        800,000,000   ............
    Loan management.....................................        210,484,000       \1\93,650,000      \1\150,000,000   ............     \1\150,000,000   ............        150,000,000   ............        155,000,000   ............
    Sec. 23 conversions.................................         13,303,214        \1\3,960,000        \1\3,960,000   ............          3,960,000   ............  ..................  ............  ..................  ............
    Relocation/replacement..............................    (10% Sec. 8/30%                                                                                                                                                             
                                                             or $150 m. PH)       \1\82,916,000       \1\82,916,000   ............         82,916,000   ............  ..................  ............  ..................  ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
          Total, preservation...........................      1,040,178,359       1,337,273,000         286,876,000   ............        941,876,000   ............      1,333,000,000   ............      1,460,000,000   ............
                                                         ===============================================================================================================================================================================
Homeownership:                                                                                                                                                                                                                          
    National homeownership fund.........................        542,533,555   ..................        100,000,000   ............  ..................  ............        115,000,000   ............        215,000,000   ............
    HOPE I, II, III.....................................        894,061,000       (140,810,000)         100,000,000   ............        100,000,000   ............        100,000,000   ............        100,000,000   ............
    Housing counseling..................................          6,278,050          12,000,000          50,000,000   ............         50,000,000   ............         62,000,000   ............         65,000,000   ............
        Rental housing choice counseling................  ..................  ..................  ..................  ............  ..................  ............        [30,000,000]  ............        [30,000,000]  ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
          Total, homeownership..........................   1,401,192,506(1)       (222,810,000)         256,875,000   ............        156,875,000   ............        277,000,000   ............        380,000,000   ............
                                                         ===============================================================================================================================================================================
Loan guarantees/secondary mortgage market:                                                                                                                                                                                              
    Limit on FHA insurance authority (MMI)..............    [68,673,868,600]   [119,564,645,000]   [100,000,000,000]  ............   [100,000,000,000]  ............   [105,000,000,000]  ............    [91,000,000,000]  ............
    Limit on FHA insurance authority (SKI)..............    (inc. in above)     [18,436,205,000]    [20,885,072,000]  ............    [20,885,072,000]  ............    (inc. in above)   ............    (inc. in above)   ............
    FHA mortgage limitation increase....................  ..................  ..................       (40,000,000)   ............       (40,000,000)   ............  ..................  ............  ..................  ............
    Limit on GNMA guarantee of MBS's....................    [91,696,000,000]   [185,000,000,000]   [142,000,000,000]  ............   [142,000,000,000]  ............  [130,000,l000,000]  ............   [130,000,000,000]  ............
    Indian housing loan guarantees......................        [50,000,000]        [25,000,000]        [22,388,000]  ............        [22,388,000]  ............        [50,000,000]  ............        [50,000,000]  ............
    Emergency homeowners relief act.....................  ..................  ..................  ..................  ............  ..................  ............        (such sums)   ............        (such sums)   ............
    Future of the FHA committee.........................  ..................  ..................  ..................  ............  ..................  ............         [1,000,000]  ............  ..................  ............
Supportive housing for elderly and disabled:                                                                                                                                                                                            
    Elderly and Disabled:                                                                                                                                                                                                               
        Supportive housing--Sec. 202 elderly............        955,406,778    \1\1,158,000,000      \1\150,000,000         1,156    \1\1,158,000,000         8,742       1,353,000,000        10,214       1,356,000,000        10,237 
        Supportive housing--Sec. 811 disabled...........        409,460,048      \1\387,000,000      \1\387,000,000         2,915      \1\387,000,000         2,915         595,000,000         4,482         598,000,000         4,504 
    Congregate service..................................         21,882,000          25,000,000           6,267,000   ............          6,267,000   ............         25,000,000   ............         26,000,000   ............
    Elderly indep.--rental assistance...................         39,896,096   ..................  ..................  ............  ..................  ............         25,000,000   ............         25,000,000   ............
    Elderly indep.--service.............................        [10,420,000]  ..................  ..................  ............  ..................  ............          7,000,000   ............          7,000,000   ............
    Housing opportunity for persons with AIDS...........        156,300,000      \1\156,000,000      \1\156,000,000           888      \1\156,000,000           888         212,000,000         1,207         225,000,000        1,281  
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
    Total, elderly/disabled.............................      1,658,844,922       1,816,400,000         762,867,000         4,959       1,784,567,000        12,545       2,217,000,000        15,903       2,237,000,000        16,022 
                                                         ===============================================================================================================================================================================
HOME:                                                                                                                                                                                                                                   
    Invest. partner. program............................      2,173,612,000       1,275,000,000       1,100,000,000   ............      1,275,000,000   ............      1,700,000,000        60,016       2,000,000,000        68,500 
    Community housing partnership.......................        [25,000,000]        [25,000,000]        [25,000,000]  ............  ..................  ............        [25,000,000]  ............        [25,000,000]  ............
    State/local strategies..............................        [22,000,000]        [22,000,000]        [22,000,000]  ............  ..................  ............        [22,000,000]  ............        [22,000,000]  ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
          Total, HOME...................................      2,173,612,000       1,275,000,000       1,100,000,000   ............      1,275,000,000   ............      1,700,000,000   ............        200,000,000   ............
                                                         ===============================================================================================================================================================================
Community development:                                                                                                                                                                                                                  
    Community develop. block grants (CDBG)..............      4,168,000,000       4,400,000,000       4,400,000,000   ............      4,600,000,000   ............      4,400,000,000   ............      4,500,000,000   ............
    Special purpose grants..............................        [60,000,000]        [45,000,000]        [60,000,000]  ............        [61,500,000]  ............        [60,000,000]  ............        [60,000,000]  ............
    Sec. 108 loan guarantees............................     [2,000,000,000]     [2,054,000,000]     [2,054,000,000]  ............     [2,054,000,000]  ............     [2,054,000,000]  ............     [2,054,000,000]  ............
    Enterprise/empowerment zones........................  ..................  ..................     \1\500,000,000   ............  ..................  ............        250,000,000   ............        250,000,000   ............
    Economic development grants.........................  ..................  ..................     \1\100,000,000   ............  ..................  ............        100,000,000   ............        100,000,000   ............
    Community viability fund............................  ..................  ..................     \1\100,000,000   ............  ..................  ............  ..................  ............  ..................  ............
    Capacity building for comm. dev. & affordable hsg...        [25,000,000]         20,000,000        [incl. above]  ............  ..................  ............         60,000,000   ............         60,000,000   ............
    Neighborhood development (John Heinz)...............         [3,000,000]      \1\[5,000,000]     \1\[10,000,000]  ............     \1\[10,000,000]  ............         10,000,000   ............         10,000,000   ............
    Neighborhood LIFT program...........................  ..................  ..................    \1\[200,000,000]  ............  ..................  ............  ..................  ............  ..................  ............
    Colonias assistance program.........................  ..................  ..................     \1\100,000,000   ............  ..................  ............        100,000,000   ............        100,000,000   ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
          Total, community development..................      6,352,032,000       6,235,000,000       6,200,000,000   ............      5,875,000,000   ............      4,920,000,000        60,016       5,020,000,000       68,500  
                                                         ===============================================================================================================================================================================
Homeless assistance:                                                                                                                                                                                                                    
    Homeless block grant................................                 NA                  NA       1,250,000,000   ............      1,120,000,000   ............        735,000,000   ............        925,000,000   ............
    Emergency shelter grants............................        143,796,000         115,000,000   ..................  ............  ..................  ............  ..................  ............  ..................  ............
    Transitional housing................................        212,568,000         334,000,000   ..................  ............  ..................  ............  ..................  ............  ..................  ............
    Safe havens.........................................         64,604,000   ..................  ..................  ............  ..................  ............  ..................  ............  ..................  ............
    Sec. 8 SRO..........................................        109,410,000         150,000,000   ..................  ............  ..................  ............        200,000,000   ............        206,000,000   ............
    Innovative homeless initiatives demo. program.......        200,000,000         100,000,000   ..................  ............  ..................  ............        100,000,000   ............  ..................  ............
    Shelter plus care program...........................        277,745,100         123,747,000   ..................  ............  ..................  ............         75,000,000   ............         75,000,000   ............
    Interagency council on the homeless.................          1,563,000   ..................  ..................  ............  ..................  ............          2,000,000   ............          2,000,000   ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
          Total McKinney homeless assistance............      1,009,686,100         822,747,000       1,250,000,000   ............      1,120,000,000   ............      1,012,000,000   ............      1,208,000,000   ............
                                                         ===============================================================================================================================================================================
R&D, D, fair housing, other:                                                                                                                                                                                                            
    Fair housing initiatives program....................         26,000,000          20,481,000          26,000,000   ............         26,000,000   ............         26,000,000   ............         27,000,000   ............
    Grants for economic development centers.............  ..................  ..................      \1\25,000,000   ............  ..................  ............  ..................  ............  ..................  ............
    Moving to opportunity...............................         52,100,000      \1\171,250,000      \1\149,100,000   ............     \1\149,100,000   ............  ..................  ............  ..................  ............
    Metropolitan area-wide assisted housing program.....  ..................  ..................       \1\9,000,000   ............  ..................  ............  ..................  ............  ..................  ............
    Research and policy development.....................         36,470,000          35,000,000          40,000,000   ............         40,000,000   ............         40,000,000   ............         42,000,000   ............
    HUD staff training, tech assistance.................  ..................  ..................  ..................  ............  ..................  ............                 NA   ............         40,000,000   ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
          Total, HUD....................................     30,928,806,866      26,430,111,000      25,786,078,000        78,456      26,793,784,000        93,428      28,017,000,000       165,628          30,046,000   ............
                                                         ===============================================================================================================================================================================
Other programs and adjustments:                                                                                                                                                                                                         
    National institute of building sciences.............  ..................  ..................  ..................  ............  ..................  ............          2,000,000   ............          2,000,000   ............
    Neighborhood reinvestment corp......................         30,713,992          32,000,000          38,667,000   ............  ..................  ............         35,000,000   ............         35,000,000   ............
    FEMA homeless assistance grants.....................        187,560,000        [130,000,000]       [130,000,000]  ............  ..................  ............        130,000,000   ............        130,000,000   ............
    American indian housing council.....................  ..................  ..................  ..................  ............           [500,000]  ............          1,000,000   ............          1,000,000   ............
    Housing assistance council..........................  ..................  ..................  ..................  ............         [4,000,000]  ............          5,000,000   ............          5,000,000   ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
          Total, other programs.........................        218,273,992          32,000,000          38,667,000   ............  ..................  ............         43,000,000   ............         43,000,000   ............
                                                         ===============================================================================================================================================================================
               Farmers Home--Rural Housing                                                                                                                                                                                              
                                                                                                                                                                                                                                        
Rural loan programs:                                                                                                                                                                                                                    
    Sec. 502 homeownership direct loans.................      1,746,896,328       1,750,000,000       1,800,000,000   ............      1,323,339,000   ............      1,802,000,000   ............      1,856,000,000   ............
    Sec. 502 unsubsidized guaranteed loans..............        (such sums)         750,000,000       1,300,000,000   ............      1,000,000,000   ............       [772,000,000]  ............       [795,000,000]  ............
    Sec. 504 home improvement loans.....................         12,920,800          35,000,000          35,000,000   ............         35,000,000   ............         36,000,000   ............         37,000,000   ............
    Sec. 514 farm labor loans...........................         17,528,107          16,300,000          16,482,000   ............         15,915,000   ............        [18,000,000]  ............        [19,000,000]  ............
    Sec. 515 rental housing loans.......................        770,559,000         540,107,000         220,000,000   ............        220,000,000   ............        600,000,000   ............        650,000,000   ............
    Sec. 523 mutual/self-help loans.....................            883,600             622,000             603,000   ............            603,000   ............          1,000,000   ............          1,000,000   ............
    Sec. 524 site loans.................................            885,700             600,000             632,000   ............            632,000   ............          1,000,000   ............          1,000,000   ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
        Subtotal, loan programs.........................      2,549,673,535       3,092,629,000       3,372,717,000   ............      2,595,489,000   ............      2,440,000,000   ............      2,545,000,000   ............
                                                         ===============================================================================================================================================================================
Rural grant programs:                                                                                                                                                                                                                   
    Sec. 502 security grants............................          1,146,200   ..................  ..................  ............  ..................  ............         10,000,000   ............         10,000,000   ............
    Sec. 504 home improvement grants....................         21,986,200          25,000,000          25,000,000   ............         24,900,000   ............         31,000,000   ............         32,000,000   ............
    Sec. 509(c) construction defects grants.............            625,200             500,000             500,000   ............            495,000   ............          1,000,000   ............          1,000,000   ............
    Sec. 509(f) project preparation grants..............          5,522,600                   0   ..................  ............  ..................  ............          6,000,000   ............          6,000,000   ............
    Sec. 515 service coordinators.......................          1,042,000                   0   ..................  ............  ..................  ............          1,000,000   ............          1,000,000   ............
    Sec. 516 farm labor grants..........................         22,611,400          11,000,000          11,000,000   ............         10,900,000   ............         15,000,000   ............         18,000,000   ............
    Sec. 516(k) migrant homeless program................         10,941,000                   0   ..................  ............  ..................  ............         10,000,000   ............         11,000,000   ............
    Sec. 523 mutual/self-help grants....................         14,483,800          12,750,000          12,750,000   ............         12,650,000   ............         15,000,000   ............         15,000,000   ............
    Sec. 533 preservation grants........................         32,093,600          23,000,000          23,000,000   ............         22,000,000   ............         33,000,000   ............         34,000,000   ............
    Sec. 538 Indian/Alaska capacity bldv................  ..................  ..................  ..................  ............  ..................  ............         10,000,000   ............  ..................  ............
    Sec. 539 rural comm. devel. initiative..............  ..................  ..................  ..................  ............  ..................  ............         10,000,000   ............         12,000,000   ............
    Rural homeless......................................  ..................  ..................  ..................  ............  ..................  ............         30,000,000   ............         30,000,000   ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
        Subtotal, grant programs........................        110,452,000          72,250,000          72,250,000   ............         70,945,000   ............        172,000,000   ............        170,000,000   ............
                                                         ===============================================================================================================================================================================
Rental assistance programs:                                                                                                                                                                                                             
    Rental assistance payments (RAP)....................        431,492,200         446,694,000         523,008,000   ............        523,008,000   ............        454,000,000   ............        468,000,000   ............
    Rural prepayments/supp. RAP.........................         12,689,476          [5,840,000]         [5,900,000]  ............         [5,900,000]  ............         13,000,000   ............         13,000,000   ............
    Rural housing vouchers..............................        140,000,000   ..................         25,000,000   ............  ..................  ............         30,000,000   ............         40,000,000   ............
                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
        Subtotal, rental assistance.....................  ..................  ..................  ..................  ............  ..................  ............        497,000,000   ............        521,000,000   ............
          Total, rural housing..........................      3,244,307,211       3,611,573,000       3,992,975,000   ............      3,189,442,000   ............      3,109,000,000   ............      3,236,000,000   ............
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\1\Funding included within Annual Contributions account.                                                                                                                                                                                
\2\1995 Budget as amended on May 16, 1994.                                                                                                                                                                                              
\3\Program to be funded with carryover balances in 1995.                                                                                                                                                                                
\4\Proposed as mandatory Budget Authority starting in 1995.                                                                                                                                                                             
                                                                                                                                                                                                                                        
Note: Farmers Home programs reflect House-passed 1995 appropriations.                                                                                                                                                                   



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