I 

111TH CONGRESS 

1ST SESSION H. R. 2876 

To establish a program to preserve rural multifamily housing assisted under 

the Housing Act of 1949. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 15, 2009 

Mr. DAVIS of Tennessee (for himself, Mr. DAVIS of Kentucky, Mr. FRANK of 

Massachusetts, Mr. HODES, Mr. BOREN, Mr. RODRIGUEZ, Mr. MASSA, 

Mr. DAVIS of Alabama, Mr. WILSON of Ohio, Mr. DAVIS of Illinois, Mr. 

HINOJOSA, Mr. FILNER, Mr. TONKO, Mr. BOSWELL, Ms. CORRINE

BROWN of Florida, Mr. SHULER, Mr. BOUCHER, and Mr. HINCHEY) introduced the following bill; which was referred to the Committee on Financial Services 

A BILL 

To establish a program to preserve rural multifamily housing 

assisted under the Housing Act of 1949. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Rural Housing Preser5 vation Act of 2009’’. 

6 SEC. 2. FINDINGS AND PURPOSES. 

7 (a) FINDINGS.—The Congress finds that— 


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1 (1) the average age of a multifamily housing 

2 project with a loan under section 515 of the Housing 

3 Act of 1949 is 30 years, and therefore much of the 

4 portfolio of such projects is aging and in need of 

5 preservation, while the need for affordable rural 

6 housing is increasing; 

7 (2) section 515 projects house some of the 

8 poorest families in rural America, with almost 60 

9 percent of the units occupied by senior citizens or 

10 persons with disabilities and an average annual 

11 household income among all occupants of approxi12 mately $10,000; 

13 (3) in many small towns and communities, rent14 al housing financed by direct loans under section 

15 515 is the only decent, affordable rental housing 

16 available; and 

17 (4) consequently, any preservation or disposi18 tion of the multifamily housing portfolio with loans 

19 under section 515, which houses approximately 

20 465,000 low-income families and seniors and farm21 workers, should be handled with great care. 

22 (b) PURPOSES.—The purposes of this Act are— 

23 (1) to authorize the Secretary of Agriculture to 

24 carry out a program that encourages the preserva25 tion of section 515 housing project developments for 


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1 long-term affordable use and the repair and revital2 ization of such properties; 

3 (2) to provide for voucher assistance for tenants 

4 who live in such projects that are preserved under 

5 this Act; and 

6 (3) to provide voucher assistance for tenants 

7 who are displaced from such projects as a result of 

8 prepayment or foreclosure on a loan for the project. 

9 SEC. 3. PRESERVATION OF MULTIFAMILY HOUSING. 

10 (a) PRESERVATION PROGRAM.—Title V of the Hous11 ing Act of 1949 (42 U.S.C. 1471 et seq.) is amended by 

12 adding at the end the following new section: 

13 ‘‘SEC. 545. PRESERVATION OF MULTIFAMILY HOUSING AND 

14 PROTECTION OF TENANTS. 

15 ‘‘(a) PRESERVATION PROGRAM.—The Secretary 

16 shall, subject to the availability of amounts appropriated, 

17 carry out a preservation program in accordance with this 

18 section to provide financial incentives and other assistance 

19 to owners of eligible projects through long-term use agree20 ments entered into between the project owners and the 

21 Secretary. 

22 ‘‘(b) APPLICATIONS TO PARTICIPATE.— 

23 ‘‘(1) IN GENERAL.—The Secretary shall accept 

24 applications from owners of eligible projects to parVerDate Nov 24 2008 03:59 Jun 16, 2009 Jkt 079200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H2876.IH H2876

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1 ticipate in the preservation program under this sec2 tion. 

3 ‘‘(2) PRIORITY.—In selecting among applica4 tions of eligible projects to participate in the preser5 vation program, the Secretary may give priority to 

6 applications for such projects that are located on 

7 tribal trust lands or other Indian areas, in colonias 

8 (as such term is defined in section 916(e) of the 

9 Cranston-Gonzalez National Affordable Housing Act 

10 (42 U.S.C. 5306 note)), or in other small, poor, low11 income communities. 

12 ‘‘(c) LONG-TERM VIABILITY PLAN.— 

13 ‘‘(1) REQUIREMENT.—The Secretary shall pre14 pare and approve a long-term viability plan under 

15 this subsection with respect to each eligible project 

16 for which the owner requests to participate. 

17 ‘‘(2) CONTENTS.—Each long-term viability plan 

18 for an eligible project shall include the following in19 formation: 

20 ‘‘(A) PHYSICAL NEEDS ASSESSMENT.—A 

21 physical needs assessment of the project that 

22 identifies and projects, for the following 30 

23 years— 

24 ‘‘(i) all necessary repairs, improve25 ments, maintenance, and management 


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1 standards for the project, and when they 

2 will be made, in order to meet the require3 ments of this title; and 

4 ‘‘(ii) the costs associated with the 

5 items referred to clause (i). 

6 ‘‘(B) FINANCIAL PLAN.—A financial plan 

7 for the project that— 

8 ‘‘(i) reviews the financial stability of 

9 the project; 

10 ‘‘(ii) includes the loan restructuring 

11 elements, rent adjustments, management 

12 and operational efficiencies, and other fi13 nancial adjustments to the project that are 

14 necessary to cover operating expenses for 

15 the project and maintain an adequate fi16 nancial reserve for the future maintenance 

17 and capital needs of the project; 

18 ‘‘(iii) provides the project owner with 

19 a long-term rate of return on equity of the 

20 project owner, as determined by the Sec21 retary, commensurate to comparable rural 

22 multifamily housing projects for which a 

23 tax credit is provided under section 42 of 

24 the Internal Revenue Code of 1986 (26 

25 U.S.C. 42), and provides that any return 


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1 in excess of such rate of return shall be 

2 made available to the Secretary only for 

3 use under section 515; 

4 ‘‘(iv) meets the physical needs for the 

5 project determined under the physical 

6 needs assessment; 

7 ‘‘(v) ensures that rents available 

8 under the plan are affordable to eligible 

9 households in accordance with subsection 

10 (f); and 

11 ‘‘(vi) addresses any costs associated 

12 with any temporary tenant displacement 

13 resulting from renovations or rehabilitation 

14 undertaken as a result of participation of 

15 the project in the preservation program. 

16 ‘‘(3) DEVELOPMENT THROUGH PARTICIPATING

17 ADMINISTRATIVE ENTITIES.—The Secretary may de18 velop long-term viability plans through the use of 

19 third-party participating administrative entities, who 

20 may be a private contractor, a State housing finance 

21 agency, or a nonprofit organization. 

22 ‘‘(4) PRESERVATION DETERMINATION.—Based 

23 on the long-term viability plan for an eligible project, 

24 the Secretary shall determine whether to offer the 

25 project owner a financial restructuring plan under 


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1 subsection (d) and the financial incentives to be in2 cluded in any such plan offered. 

3 ‘‘(5) FINAL REVIEW AND COMMENT.—Before a 

4 determination is made under subparagraph (D) with 

5 respect to any long-term viability plan prepared by 

6 the Secretary, the Secretary shall— 

7 ‘‘(A) provide the project owner an oppor8 tunity to review the plan and discuss the plan 

9 with the Secretary or its agent; 

10 ‘‘(B) make available to the tenants of the 

11 project a copy of such plan and provide a period 

12 of not less than 30 days for tenants to submit 

13 comments regarding the plan to the Secretary; 

14 and 

15 ‘‘(C) respond in writing to such comments. 

16 ‘‘(6) FEES.—The Secretary may charge the 

17 project owner a fee for preparation of the long-term 

18 viability plan. 

19 ‘‘(7) PAYMENT OF FEES.—If a long-term viabil20 ity for a project is approved, the payment of such 

21 fee may be incorporated into a project owner’s finan22 cial restructuring plan for the project provided by 

23 the Secretary pursuant to subsection (d). 

24 ‘‘(d) FINANCIAL RESTRUCTURING PLAN; PRESERVA25 TION INCENTIVES.—Based on the long-term viability plan 


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1 for an eligible project, the Secretary may offer a project 

2 owner a financial restructuring plan for the project. Such 

3 a plan may include one or more of the following preserva4 tion incentives: 

5 ‘‘(1) Reduction or elimination of interest on the 

6 loan or loans for the project made under section 

7 515. 

8 ‘‘(2) Partial or full deferral of payments due 

9 under such loan or loans. 

10 ‘‘(3) Forgiveness of such loan or loans. 

11 ‘‘(4) Subordination of such loan or loans, sub12 ject to such terms and conditions as the Secretary 

13 shall determine. 

14 ‘‘(5) Reamortization of loan payments under 

15 such loan or loans over extended terms. 

16 ‘‘(6) A grant from the Secretary for the project. 

17 ‘‘(7) Payment of project costs associated with 

18 developing the long-term viability plan. 

19 ‘‘(8) Opportunity for project owners to obtain 

20 further investment equity from third parties. 

21 ‘‘(9) A direct loan or guarantee of a loan for 

22 the project, with a subsidized interest rate without 

23 regard to the value of the project. 

24 ‘‘(e) LONG-TERM USE AGREEMENT.— 


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1 ‘‘(1) IN GENERAL.—If the owner of an eligible 

2 project agrees to the terms of a financial restruc3 turing plan for the project providing preservation 

4 benefits under subsection (d), in exchange for such 

5 benefits, the Secretary and the project owner shall 

6 enter into a long-term use agreement under this sub7 section for the project. 

8 ‘‘(2) AGREEMENT.—A long-term use agreement 

9 for an eligible project shall include— 

10 ‘‘(A) the terms of the financial restruc11 turing plan for the project, including any pres12 ervation incentives to be provided; 

13 ‘‘(B) an agreement by the project owner— 

14 ‘‘(i) to continue the property use re15 strictions with respect to the project in ac16 cordance with this title for a period of— 

17 ‘‘(I) 30 years, or 

18 ‘‘(II) the remaining term of any 

19 loans under this title for the project, 

20 whichever ends later; 

21 ‘‘(ii) to comply with the long-term via22 bility plan for the project; and 

23 ‘‘(iii) to comply with the rent terms 

24 under subsection (f) for the project; 


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1 ‘‘(C) provisions terminating the agreement 

2 if any material preservation incentives for the 

3 project to be provided under the agreement are 

4 no longer available and the Secretary deter5 mines that such unavailability is not the fault 

6 of the owner; 

7 ‘‘(D) any rent terms for the project pursu8 ant to subsection (f); 

9 ‘‘(E) a covenant which runs with the land; 

10 ‘‘(F) a representation and warranty by the 

11 owner to provide safe, healthy, clean buildings 

12 pursuant to the Secretary’s guidelines; 

13 ‘‘(G) provisions providing for rural preser14 vation voucher assistance under section 542(c) 

15 for low-income households residing in the 

16 project who are eligible for such vouchers; and 

17 ‘‘(H) such other terms as the Secretary de18 termines are necessary to implement the pur19 poses of this section. 

20 ‘‘(f) RENTS UNDER LONG-TERM USE AGREE21 MENT.—Rents for any eligible households residing in 

22 dwelling units in any preserved project shall comply with 

23 the following requirements: 

24 ‘‘(1) MAXIMUM HOUSEHOLD CONTRIBUTION TO

25 RENT AND UTILITIES.—The maximum household 


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1 contribution to monthly rent and utilities for any eli2 gible household may not exceed 30 percent of the 

3 adjusted income of the eligible household. 

4 ‘‘(2) RENT ADJUSTMENTS.—The rents for eligi5 ble projects may be increased or decreased only on 

6 an annual basis and only in accordance with stand7 ards incorporated in such agreement. 

8 ‘‘(3) LOWEST COST REQUIREMENT.—In deter9 mining the terms of a restructuring plan, and the 

10 type and amount of preservation benefits under such 

11 plan to approve under this section for an eligible 

12 project, the Secretary shall, to the extent prac13 ticable, approve assistance that imposes the least 

14 cost to the Secretary while meeting the requirements 

15 of the long-term viability plan for the project. 

16 ‘‘(g) EARNED INCOME DISREGARD FOR RESI17 DENTS.— 

18 ‘‘(1) IN GENERAL.—Notwithstanding any other 

19 provision of law, the amount of the contribution to20 ward rent for a dwelling unit payable, by any house21 hold described in paragraph (3), for occupancy in a 

22 project funded with a loan under section 515 may 

23 not be increased as a result of the increased income 

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1 ginning on the date on which the employment is 

2 commenced. 

3 ‘‘(2) PHASE-IN OF RENT INCREASES.—Upon 

4 the expiration of the 12-month period referred to in 

5 paragraph (1), the contribution toward rent payable 

6 by a household described in paragraph (3) may be 

7 increased due to the continued employment of the 

8 household member described in subparagraph 

9 (3)(B), except that during the 12-month period be10 ginning upon such expiration the amount of the in11 crease may not be greater than 50 percent of the 

12 amount of the total increase in contribution toward 

13 rent that would be applicable but for this paragraph. 

14 ‘‘(3) ELIGIBLE HOUSEHOLD.—A household de15 scribed in this paragraph is a household that— 

16 ‘‘(A)(i) is an eligible household who resides 

17 in a eligible project; or 

18 ‘‘(ii) is provided rural preservation voucher 

19 assistance pursuant to section 542(c); and 

20 ‘‘(B)(i) whose income increases as a result 

21 of employment of a member of the household 

22 who was previously unemployed for 1 or more 

23 years; 

24 ‘‘(ii) whose earned income increases during 

25 the participation of a household member in any 


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1 family self-sufficiency or other job training pro2 gram; or 

3 ‘‘(iii) who is or was, within 6 months, as4 sisted under any State program for temporary 

5 assistance for needy families funded under part 

6 A of title IV of the Social Security Act (42 

7 U.S.C. 601 et seq.) and whose earned income 

8 increases. 

9 ‘‘(h) INELIGIBILITY.— 

10 ‘‘(1) PROCEDURE FOR DETERMINATION.—The 

11 Secretary may determine that a project owner is in12 eligible for participation in the preservation program 

13 under this section in accordance with the standards 

14 under paragraph (2). 

15 ‘‘(2) STANDARDS.—The Secretary may deter16 mine that a project owner is ineligible if— 

17 ‘‘(A) the project owner has a history of 

18 poor management or maintenance of multi19 family housing properties; 

20 ‘‘(B) the project owner is in default on a 

21 loan made available under the section 515 hous22 ing program; 

23 ‘‘(C) the Secretary is unable to enter into 

24 a long-term use agreement for the project that 


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1 is the subject of the application with the project 

2 owner within a reasonable time; 

3 ‘‘(D) the project owner is suspended or 

4 debarred from participating in Federal con5 tracts or programs; or 

6 ‘‘(E) the Secretary has other good cause 

7 for withholding from the project owner the ben8 efits made available under this section. 

9 ‘‘(3) INELIGIBILITY BECAUSE OF ACTION FOR

10 PREPAYMENT.—A project owner shall be ineligible 

11 for participation in the preservation program under 

12 this section if the owner— 

13 ‘‘(A) is a party to an ongoing civil action 

14 brought to authorize the prepayment of the sec15 tion 515 loan for the eligible project, or is a 

16 party to a damages action brought to recover 

17 damages caused by the passage of the Emer18 gency Low Income Housing Preservation Act of 

19 1987 or amendments to such Act, for which a 

20 final judgment, settlement agreement, or con21 sent decree has not yet been issued; or 

22 ‘‘(B) was a party to a civil action brought 

23 to authorize the prepayment of the section 515 

24 loan for the eligible project, or was a party to 

25 a damages action brought to recover damages 


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1 caused by the passage of the Emergency Low 

2 Income Housing Preservation Act of 1987 or 

3 amendments to such Act, under which damages 

4 were awarded to the project owner, and the 

5 owner has not agreed to contribute at least 50 

6 percent of such damages, or $100,000, which7 ever is less, to carrying out the financial re8 structuring plan and long-term use agreement 

9 for the preserved project. 

10 ‘‘(i) DEFINITIONS.—For purposes of this section, the 

11 following definitions shall apply: 

12 ‘‘(1) ELIGIBLE HOUSEHOLD.—The term ‘eligi13 ble household’ means a household that, under sec14 tion 515, is eligible to reside in a project funded 

15 with a loan made by the Secretary under such sec16 tion. 

17 ‘‘(2) ELIGIBLE PROJECT.—The term ‘eligible 

18 project’ means a housing project funded with a loan 

19 made at any time by the Secretary under section 

20 515, the principal obligation of which has not been 

21 fully repaid. 

22 ‘‘(3) PROJECT OWNER; OWNER.—The terms 

23 ‘project owner’ and ‘owner’ mean, with respect to an 

24 eligible project, an individual or entity, or principals 

25 thereof that own, or plan to purchase, the project. 


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1 ‘‘(4) PRESERVED PROJECT.—The term ‘pre2 served project’ means an eligible project for which 

3 the Secretary and owner have entered into agree4 ment on a financial restructuring plan for the 

5 project and into a long-term use agreement for the 

6 project, under this section. 

7 ‘‘(j) ANNUAL REPORT.—The Secretary shall submit 

8 a report to the Congress annually regarding the compli9 ance of owners of eligible projects participating in the 

10 preservation program under this section with the require11 ments of such program, which shall identify and describe 

12 any significant failures to comply. 

13 ‘‘(k) AUTHORIZATION OF APPROPRIATIONS.—There 

14 are authorized to be appropriated for each of fiscal years 

15 2010 through 2014 such sums as may be necessary to 

16 carry out the preservation program under this section.’’. 

17 SEC. 4. RURAL PRESERVATION AND RURAL TENANT PRO18 TECTION VOUCHERS. 

19 Section 542 of the Housing Act of 1949 (42 U.S.C. 

20 1490r) is amended by adding at the end the following new 

21 subsections: 

22 ‘‘(c) RURAL PRESERVATION VOUCHERS.—In the case 

23 of a housing project subject to a loan made under section 

24 515 that is a preserved project (as such term is defined 

25 in section 545(i)), the Secretary shall, to the extent that 


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1 amounts for assistance under this subsection are provided 

2 in advance in appropriation Acts, make available voucher 

3 assistance to each eligible household (as such term is de4 fined in section 545(i)) that is not assisted under the rent5 al assistance program under section 521 or the program 

6 for rental assistance under section 8 of the United States 

7 Housing Act of 1937 (42 U.S.C. 1437f), and is residing 

8 in the project upon the date that a long-term use agree9 ment is entered into pursuant to section 545(e) between 

10 the project owner and the Secretary, voucher assistance 

11 upon such date, as follows: 

12 ‘‘(1) The amount of assistance provided under 

13 the voucher shall be sufficient to allow such house14 hold to remain in the project after it is preserved. 

15 ‘‘(2) The percentage of adjusted income paid by 

16 the eligible household for rent and utilities for the 

17 assisted dwelling, pursuant to the voucher, shall not 

18 exceed 30 percent of adjusted income of the eligible 

19 household. 

20 ‘‘(3) The voucher assistance shall be available 

21 to the eligible household only during the period in 

22 which the eligible household resides in the preserved 

23 project and the long-term use agreement remains in 

24 effect. 


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1 ‘‘(4) Upon termination of the participation of 

2 the eligible household in the voucher program, the 

3 voucher shall remain attached to the preserved 

4 project and shall be available for use by another eli5 gible household residing in the preserved project. 

6 ‘‘(d) RURAL TENANT PROTECTION VOUCHERS.— 

7 ‘‘(1) IN GENERAL.—In the case of a housing 

8 project subject to a loan made under section 515 

9 that is prepaid or foreclosed upon, the Secretary 

10 shall, to the extent that amounts for assistance 

11 under this subsection are provided in advance in ap12 propriation Acts, make available to each eligible 

13 household (as such term is defined in section 545(i)) 

14 that is not assisted under the rental assistance pro15 gram under section 521 or the program for rental 

16 assistance under section 8 of the United States 

17 Housing Act of 1937 (42 U.S.C. 1437f), and is re18 siding in a dwelling unit in the project upon the date 

19 that the Secretary approves the prepayment or sub20 mits notice of foreclosure to the project owner, as 

21 applicable, voucher assistance upon such date, as fol22 lows: 

23 ‘‘(A) RELOCATION VOUCHERS.—In the 

24 case of any such eligible household who must 

25 relocate from a project for which the loan is 


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1 being prepaid or foreclosed upon, voucher as2 sistance under this subsection shall be subject 

3 to the terms of section 8(o) of the United 

4 States Housing Act of 1937 (42 U.S.C. 

5 1437(o)), except that— 

6 ‘‘(i) the percentage of adjusted income 

7 paid by the eligible household for rent and 

8 utilities for the assisted dwelling unit shall 

9 not at any time exceed 30 percent of the 

10 adjusted income of the eligible household; 

11 and 

12 ‘‘(ii) a voucher provided pursuant to 

13 this subparagraph shall be subject to the 

14 terms of section 8(r) of such Act (relating 

15 to portability), except that if an eligible 

16 household uses the voucher to move to a 

17 community other than the community in 

18 which the project from which the family re19 located pursuant to such prepayment or 

20 foreclosure is located, upon termination of 

21 the participation of such eligible family in 

22 the voucher program, the voucher shall be 

23 returned for use in the community in 

24 which such project is located. 


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1 ‘‘(B) ENHANCED VOUCHERS.—In the case 

2 of any such eligible household who remains in 

3 a project for which the loan is prepaid or fore4 closed upon, voucher assistance under this sub5 section shall be subject to the terms of section 

6 8(t) of the United States Housing Act of 1937 

7 (42 U.S.C. 1437f(t)), except that— 

8 ‘‘(i) the percentage of adjusted income 

9 paid by the eligible household for rent and 

10 utilities for the assisted dwelling unit shall 

11 not at any time exceed 30 percent of the 

12 adjusted income of the eligible household; 

13 ‘‘(ii) the owner of the project may not 

14 refuse to lease, to an eligible household for 

15 whom voucher assistance under this sub16 paragraph is made available, any available 

17 appropriately sized rental dwelling unit in 

18 the project; 

19 ‘‘(iii) voucher assistance under this 

20 subparagraph may be used only for dwell21 ing units in housing that is decent, safe, 

22 and sanitary; and 

23 ‘‘(iv) upon termination of participa24 tion of such eligible family in the enhanced 

25 voucher program, the voucher shall convert 


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1 to a relocation voucher under subpara2 graph (A) of this paragraph, and shall be 

3 available with respect to such project only 

4 to provide assistance in accordance with 

5 the provisions of such subparagraph. 

6 ‘‘(e) ADMINISTRATION.—The Secretary may contract 

7 with a public housing agency or a private or nonprofit or8 ganization to administer vouchers authorized under sub9 sections (c) and (d). 

10 ‘‘(f) RENEWAL.—Vouchers under subsections (c) and 

11 (d) shall be renewed annually, subject to the availability 

12 of appropriations for such renewal. 

13 ‘‘(g) USE OF SAVINGS.—Notwithstanding any other 

14 provision of law, any amounts made available for voucher 

15 assistance under subsections (c) and (d) that remain un16 used because of increases in the incomes of household as17 sisted under such vouchers shall be available to the Sec18 retary for eligible activities under this Act. 

19 ‘‘(h) APPLICABILITY OF SECTION 8 PROGRAM.—Ex20 cept as specifically provided otherwise in this section, to 

21 the maximum extent practicable, the Secretary shall ad22 minister voucher assistance subsections (c) and (d) in ac23 cordance with, but not subject to, regulations and admin24 istrative guidance for housing vouchers administered by 


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1 the Secretary of Housing and Urban Development under 

2 section 8(o) of such Act. 

3 ‘‘(i) AUTHORIZATION OF APPROPRIATIONS.—There is 

4 authorized to be appropriated for voucher assistance under 

5 subsections (c) and (d) such sums as may be necessary 

6 for each of fiscal years 2010 through 2014.’’. 

7 SEC. 5. PRIORITY FOR FINANCING. 

8 Subsection (j) of section 515 of the Housing Act of 

9 1949 (42 U.S.C. 1485(j)) is amended— 

10 (1) by inserting ‘‘(1)’’ before ‘‘For’’; and 

11 (2) by adding at the end the following new 

12 paragraph: 

13 ‘‘(2) The Secretary may give priority, in entering into 

14 contracts under this section involving financing for new 

15 construction of a project, for projects located in eligible 

16 rural areas having a need for affordable low-income rental 

17 housing due to prepayment of loans made or insured 

18 under this section.’’. 

19 SEC. 6. CONFORMING AMENDMENT. 

20 Section 537(b)(1) of the Housing Act of 1949 (42 

21 U.S.C. 1490p–1(b)(1)) is amended by inserting before the 

22 semicolon the following: ‘‘and to administer the preserva23 tion program under section 545’’. 


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1 SEC. 7. REGULATIONS. 

2 The Secretary of Agriculture shall issue proposed 

3 regulations to carry out the amendments made by this Act 

4 not later than the expiration of the 90-day period begin5 ning upon the date of the enactment of this Act, and shall 

6 issue final regulations to carry out the amendments made 

7 by this Act not later than the expiration of the 180-day 

8 period beginning upon such date of enactment. 

Æ 


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