Sec. 40204. Investments in rural homeownership
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In addition to amounts otherwise available, there is appropriated to the Secretary of Agriculture (in this section referred to as the Secretary ), out of any money in the Treasury not otherwise appropriated— $70,000,000 for direct loans made under section 502 of the Housing Act of 1949 ( 42 U.S.C. 1472 ); $95,000,000 for providing single family housing repair grants under section 504 of the Housing Act of 1949 ( 42 U.S.C. 1474 ), subject to the terms and conditions in subsection
(b)of this section; $25,000,000 for grants under section 523 of the Housing Act of 1949 ( 42 U.S.C. 1490c ); and $10,000,000 for administrative expenses of the Secretary that in whole or in part support activities funded by this section and related activities. Amounts appropriated by this section shall remain available until expended. Eligibility for grants from amounts made available by subsection (a)(2) shall not be subject to the limitations in section 3550.103(b) of title 7, Code of Federal Regulations. Notwithstanding the limitations in section 3550.102(a) of title 7, Code of Federal Regulations, grants from amounts made available by subsection (a)(2) shall be available for the eligible purposes in section 3550.102(b) of title 7, Code of Federal Regulations.
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