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HR 1989 111th Congress House Housing and Community Development Government lending and loan guarantees Housing and community development funding Housing finance and home ownership Rural conditions and development

Section 538 Improvement Act of 2009

Introduced: April 21, 2009 Introduced by: Capito, Shelley Moore Republican · West Virginia See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 21, 2009
Referred to the House Committee on Financial Services.
Apr 21, 2009
Introduced in House
 Plain-English summary Congressional Research Service

Section 538 Improvement Act of 2009 - Amends the Omnibus Appropriations Act, 2009 regarding the Rural Housing Service-Rural Housing Insurance Fund Program Account.

Repeals the declaration that, for applications received under the 2009 notice of funding availability, section 538 multi-family housing guaranteed loans funded under such Act shall not be subject to a guarantee fee and the interest on such loans may not be subsidized.

Authorizes the Secretary of Housing and Urban Development (HUD) to: (1) reduce the funding under such Act for section 538 multi-family housing guaranteed loans by up to $29.09 million; and (2) use such amounts as equivalent funds to subsidize the interest on such guaranteed loans for which applications are received under the 2009 notice of funding availability.

What's happening now April 21, 2009

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1