Mortgage Credit

Mortgage Credit homeownership and rental housing assistance For homeownership assistance payments, authorized by section 235, and for interest reduction payments as authorized by section 236 of the National Housing Act, as amended (82 Stat. 477 and 498), $26,500,000: Provided, That the limitation on total payments that may be required in any fiscal year by all contracts entered into under section 235 is increased by $90,000,000, and the limitation on total payments under those entered into under section 236 is increased by $85,000,000. rent supplement program For rent supplement payments authorized by section 101 of the Housing and Urban Development Act of 1965, $23,000,000: Provided, That the limitation otherwise applicable to the maximum payments that may be required in any fiscal year by all contracts entered into under such section is increased by $50,000,000: Provided further, That no part of the foregoing appropriation or contract authority shall be used for incurring any obligation in connection with any dwelling unit or project which is not either part of a workable program for community improvement meeting the requirements of section 101(c) of the Housing Act of 1949, as amended (42 U.S.C. 1451 (c)), or which is without local official approval for participation in this program. low and moderate income sponsor fund For the low and moderate income sponsor fund, authorized by section 106 of the Housing and Urban Development Act of 1968 (82 Stat. 490), $2,000,000. salaries and expenses For necessary administrative expenses of the Federal Housing Administration in carrying out functions delegated by the Secretary under section 101 of the Housing and Urban Development Act of 1965, as amended (12 U.S.C. 1701s), and section 106 and title XIV of the Housing and Urban Development Act of 1968 (82 Stat. 490 and 590), not otherwise provided for, $3,500,000.