A bill to ensure the availability of loan guarantees for rural homeowners.
Rural Housing Preservation and Stabilization Act of 2010 - Amends the Housing Act of 1949 and the Doug Bereuter Section 502 Single Family Housing Loan Guarantee Act to increase from up to 1% to up to 4.05% the guarantee fee on loans for housing and buildings on adequate farms.
Amends the Agriculture, Rural Development, Food and Drug Administration and Related Agencies Appropriation Act, 2001 to repeal the maximum limit on the loan guarantee fee of 2%.
Amends the Housing Act of 1949 to authorize the Secretary to guarantee such loans in aggregate amounts of up to $30 billion for FY2010.
Declares that the budgetary effects of this Act, in order to comply with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled "Budgetary Effects of PAYGO Legislation" for this Act, submitted for printing in the Congressional Record by the Chairman of the Committee on the Budget of the House of Representatives, provided that such statement has been submitted before the vote on passage.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line