Rural Housing Preservation and Stabilization Act of 2010

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.

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5017 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5017

  To ensure the availability of loan guarantees for rural homeowners.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 14, 2010

    Mr. Kanjorski (for himself, Mr. Hodes, Mr. Wilson of Ohio, Mr. 
 Hinojosa, and Mr. Courtney) introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To ensure the availability of loan guarantees for rural homeowners.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Rural Housing Preservation and 
Stabilization Act of 2010''.

SEC. 2. LOAN GUARANTEE FEES.

    (a) Fees.--
            (1) Up-front and annual fees.--Paragraph (8) of section 
        502(h) of the Housing Act of 1949 (42 U.S.C. 1472(h)(8)) is 
        amended to read as follows:
            ``(8) Guarantee fees.--With respect to a guaranteed loan 
        under this subsection, the Secretary may collect from the 
        lender--
                    ``(A) at the time of issuance of the guarantee, a 
                fee equal to not more than 3.5 percent of the principal 
                obligation of the loan; and
                    ``(B) an annual fee during the term of the loan 
                equal to not more than 0.5 percent of the outstanding 
                principal balance of the loan.''.
            (2) Conforming amendment.--Section 739 of the Agriculture, 
        Rural Development, Food and Drug Administration, and Related 
        Agencies Appropriation Act, 2001 (as enacted by Public Law 106-
        387; 114 Stat. 1549A-34) is hereby repealed.
    (b) Authorization of Amount of Loan Guarantees.--Section 513 of the 
Housing Act of 1949 (42 U.S.C. 1483) is amended by adding at the end 
the following new subsection:
    ``(f) Authorization for Loan Guarantees.--The Secretary may, to the 
extent approved in appropriation Acts, guarantee loans under section 
502(h) in aggregate amounts not to exceed $30,000,000,000 for fiscal 
year 2010 and for each fiscal year thereafter.''.
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