GovTrack’s Bill Summary
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H.R. 5017 (111th): Rural Housing Preservation and Stabilization Act of 2010
- Introduced:
- Apr 14, 2010 (111th Congress, 2009–2010)
- Sponsor:
- Rep. Paul Kanjorski [D-PA11]
- Status:
- Died (Passed House)
The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
4/27/2010--Passed House amended.
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% 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.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
This summary can be found at http://www.gop.gov/bill/111/1/hr5017.
Summary
The bill would increase the loan guarantee authority for the section 502 Rural Housing Loan Guarantee Program to $30 billion for FY 2010, up from the $12 billion previously authorized for this year. The bill would give U.S. Department of Agriculture the authority to increase upfront fees up to 4.0 percent of the loan balance, with the stipulation that the fees charged to the program must cover the cost of the program. In addition, the reported bill removed a provision in the underlying bill that creates an annual premium.
Cost
CBO estimates that implementing H.R. 5017 would increase offsetting collections, and thus reduce discretionary spending, by $24 million in 2010, assuming enactment of an appropriations act necessary to implement the proposed changes to RHS's loan guarantee program.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.
The bill contains the following citations to other parts of U.S. law:
Slip Laws
Slip laws refer to enacted bills and joint resolutions in their original form as enacted by Congress, that is, before other laws amend them. Slip laws are cited as “Public Law XXX-YYY”, where XXX is the number of the Congress in which the bill or resolution was introduced.
- Public Law 106-387:
H.R. 4461 (106th): Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2001
United States Code
The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)
- Title 2: THE CONGRESS
- Chapter 17A: CONGRESSIONAL BUDGET AND FISCAL OPERATIONS
- Subchapter III: CREDIT REFORM
- Section 661a: Definitions
- Title 42: THE PUBLIC HEALTH AND WELFARE
- Chapter 8A: SLUM CLEARANCE, URBAN RENEWAL, AND FARM HOUSING
- Subchapter III: FARM HOUSING
- Section 1472: Loans for housing and buildings on adequate farms
- Section 1483: Program levels and authorizations
Statutes at Large
The United States Statutes at Large is the compilation of all laws enacted by Congress.
- 114 Stat. 1549A-34