[Congressional Record (Bound Edition), Volume 149 (2003), Part 16]
[Senate]
[Page 22473]
[From the U.S. Government Publishing Office, www.gpo.gov]




                          NATIONAL HOUSING ACT

  Mr. BURNS. Mr. President, I ask unanimous consent that the Senate 
proceed to the immediate consideration of S. 1636, introduced earlier 
today by Senator Reed of Rhode Island.
  The PRESIDING OFFICER. Without objection, it is so ordered. The clerk 
will report.
  The assistant legislative clerk read as follows;

       A bill (S. 1636) to preserve the ability of the Federal 
     Housing Administration to insure mortgages under sections 238 
     and 519 of the National Housing Act.

  There being no objection, the Senate proceeded to consider the bill.
  Mr. BURNS. Mr. President, I ask unanimous consent that the bill be 
read the third time, passed, the motion to reconsider be laid upon the 
table, and that any statements relating to the bill be printed in the 
Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The bill (S. 1636) was read the third time and passed, as follows:

                                S. 1636

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,
       That notwithstanding the first paragraph under the heading 
     ``Federal Housing Administration--general and special risk 
     program account'' in title II of Division K of the 
     Consolidated Appropriations Resolution, 2003 (Public Law 108-
     7), during the fiscal year 2003, commitments to guarantee 
     loans to carry out the purposes of sections 238 and 519 of 
     the National Housing Act (12 U.S.C. 1715z-3 and 1735c), shall 
     not exceed a loan principal of $25,000,000,000, and shall 
     remain available until all funds are expended.

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