To authorize the Secretary of Agriculture to use unobligated funds from a housing demonstration program in the State of North Carolina to make grants under section 504 of the Housing Act of 1949 in such State.

January 28, 2003

Mr. BALLANCE (for himself, Mr. JONES of North Carolina, Mr. MCINTYRE, and Mr. ETHERIDGE) introduced the following bill; which was referred to the Committee on Financial Services

To authorize the Secretary of Agriculture to use unobligated funds from a housing demonstration program in the State of North Carolina to make grants under section 504 of the Housing Act of 1949 in such State.

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

SECTION 1. AVAILABILITY OF FUNDS FOR GRANTS UNDER SECTION 504 OF THE HOUSING ACT OF 1949.

During fiscal year 2003 and subsequent fiscal years, the Secretary of Agriculture may use any funds remaining available for the demonstration program authorized in the first paragraph under the heading `RURAL HOUSING INSURANCE FUND PROGRAM ACCOUNT' in the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2001 (as enacted into law by Public Law 106-387; 114 Stat. 1549A-19), to make grants under section 504 of the Housing Act of 1949 (42 U.S.C. 1474) and to cover the costs (as defined in section 502 of the Congressional Budget Act of 1974) of loans under such section in North Carolina.

END