[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and Related Agencies Appropriation Act, 2001 (as enacted by Public Law 106- 387; 114 Stat. 1549A-34) is hereby repealed.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.''. <all>