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[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4568 Introduced in House (IH)]

103d CONGRESS
  2d Session
                                H. R. 4568

 Making supplemental appropriations for the Department of Housing and 
 Urban Development for the fiscal year ending September 30, 1994, and 
                          for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             June 13, 1994

   Mr. Obey introduced the following bill; which was referred to the 
                      Committee on Appropriations

_______________________________________________________________________

                                 A BILL

 
 Making supplemental appropriations for the Department of Housing and 
 Urban Development for the fiscal year ending September 30, 1994, and 
                          for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That the following sums 
are appropriated, out of any money in the Treasury not otherwise 
appropriated, to provide supplemental appropriations for the Department 
of Housing and Urban Development for the fiscal year ending September 
30, 1994, and for other purposes, namely:

              DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

                     Federal Housing Administration

             fha--mutual mortgage insurance program account

    During fiscal year 1994, additional commitments to guarantee loans 
to carry out section 203(b) of the National Housing Act, as amended, 
shall not exceed an additional loan principal of $35,000,000,000.

             fha--general and special risk program account

    For an additional amount for the cost of guaranteed loans, not to 
exceed $18,080,000, as authorized by the National Housing Act, as 
amended (12 U.S.C. 1715z-3(b) and 1735c(f)), of which $8,080,000 shall 
become available upon enactment: Provided, That such costs, including 
the cost of modifying loans, shall be as defined in section 502 of the 
Congressional Budget Act of 1974: Provided further, That 
notwithstanding any limitation for fiscal year 1994 in section 531(b) 
of the National Housing Act, these funds are available to subsidize 
total loan principal, any part of which is to be guaranteed, not to 
exceed $3,000,000,000: Provided further, That during fiscal year 1994, 
the Secretary shall sell without recourse assigned mortgage notes 
having an unpaid principal balance of up to $180,000,000, which notes 
were originally insured under section 221(g)(4) or title X of the 
National Housing Act: Provided further, That of the amount appropriated 
herein, an amount equal to the lesser of $10,000,000 or the excess of 
the net proceeds from the sale of mortgage notes above $88,900,000 
shall become available only after such sale has been completed.

                Government National Mortgage Association

guarantees of mortgage-backed securities loan guarantee program account

    During fiscal year 1994, additional commitments to issue guarantees 
to carry out section 306 of the National Housing Act, as amended (12 
U.S.C. 1721(g)), shall not exceed $55,000,000,000.

                                 <all>
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