Housing Programs

Housing Programs emergency homeowners’ relief fund For emergency mortgage relief payments and for other expenses of the Emergency Homeowners’ Relief Fund, as authorized by title I of the Emergency Housing Act of 1975 (Public Law 94–50), $35,000,000, to remain available until September 30, 1976. state housing finance and development agencies For interest grant payments pursuant to section 802(c) (2) of the Rousing and Community Development Act of 1974 ( 88 Stat. 722), $15,000,000, to remain available until September 30, 1976: Provided, that the total of contracts for annual payments entered into under such section shall not exceed $15,000,000: Provided further, That the total new budget authority obligated under such contracts entered into after June 30, 1975, shall not exceed $600,000,000. annual contributions for assisted housing The, additional amount of contracts for annual contributions, not otherwise provided for, as authorized by section 5 of the United States Housing Act of 1937, as amended (42 U.S.C. 1437c), entered into after June 30, 1975, shall not exceed $662,300,000, which amount shall be in addition to balances of authorization heretofore made available for such contracts: Provided, That the total new budget authority obligated under such contracts entered into after June 30, 1975, shall not exceed $17,000,000,000, which amount shall not include budget authority obligated under balances of authorization heretofore made available: Provided further, That at least $50,000,000 of the new contract authority herein made available shall be used only for contracts for annual contributions to assist, in financing the development or acquisition of low-income housing projects to be owned by public 89 STAT. 582housing agencies other than under section 8 of the above Act: Provided further, That not less than 50 per centum of the funds made available by this Act which are used pursuant to section 8 of the above Act shall be allocated to contracts to make assistance payments with respect to newly constructed or substantially rehabilitated housing: And provided further, That in fiscal year 1976 and the period ending September 30, 1976, the fair market rent basis of contracts approved pursuant to section 8 of the above Act shall not exceed by more than 10 per centum in the aggregate, or 20 per centum in individual market areas, those published in the Federal Register through September 8, 1975. rent supplemental program The limitation otherwise applicable to the maximum payments that may be required in any fiscal year by all contracts entered into under section 101 of the Housing and Urban Development Act of 1965 (12 U.S.C. 1701s) is increased by $20,000,000. housing for the elderly or handicapped The limitation on the aggregate loans that may be made under section 202 of the Housing Act of 1959, as amended, from the fund authorized by subsection (a) (4) of such section, is hereby established for the fiscal year 1976 through the period ending September 30, 1976, at $375,000,000 in accordance with paragraph (C) of such subsection, which funds shall be available only to qualified nonprofit sponsors for the purpose of providing 100 per centum loans for the development of housing for the elderly or handicapped, with any cash equity or other financial commitments imposed as a condition of loan approval to be returned to the sponsor if sustaining occupancy is achieved in a reasonable period of time: Provided, That the full amount shall be available for permanent financing (including construction financing) for housing projects for the elderly or handicapped. housing payments For the payment of annual contributions, not otherwise provided for, in accordance with section 5 of the United States Housing Act of 1937, as amended (42 U.S.C. 1437c) ; for payments authorized by title IV of the Housing Act of 1950, as amended (12 U.S.C. 1749 et seq.); for rent supplement payments authorized by section 101 of the Housing and Urban Development Act of 1965, as amended (12 U.S.C. 1701s); and for payments as authorized by sections 235 and 236, of the National Housing Act, as amended (12 U.S.C. 1715z, 1715z–1), $2,245,000,000. For “Housing payments” for the period July 1, 1976, through September 30, 1976, $600,000.000. payments for operation of low-income housing projects For annual contributions to public housing agencies for the payment of operating subsidies for low-income housing projects as authorized by section 9 of the United States Housing Act of 1937, as amended (42 U.S.C. 1437g), $535,000,000: Provided, That the aggregate amount of contracts for annual contributions entered into for such payments shall not exceed $535,000,000. For “Payments for operation of low-income housing projects” for the period July 1, 1976, through September 30, 1976, $80,000,000: 89 STAT. 583Provided, That the aggregate amount of contracts for such payments shall not exceed $80,000,000. salaries and expenses, housing programs For necessary administrative expenses, not otherwise provided for, and for nonadministrative expenses as classified by section 1 of the National Housing Act, as amended (12 U.S.C. 1701), in carrying out programs of housing production and mortgage credit and housing management, $199,000,000, of which $158,650,000 shall be provided by transfer from the various funds of the Federal Housing Administration: Provided, That administrative expenses in connection with the Revolving fund (liquidating programs) shall be exclusive of expenses necessary in the case of defaulted obligations to protect the interests of the Government. For “Salaries and expenses, housing programs” for the period July 1, 1976, through September 30, 1976, $49,800,000, of which $39,850,000 shall be provided by transfer from the various funds of the Federal Housing Administration.