Section 1 Short title
This Act may be cited as the “Stabilizing Rural Homeowners During COVID Act of 2021”.
Stabilizing Rural Homeowners During COVID Act of 2021
A BILL
To provide emergency rural housing assistance to respond to the COVID-19 pandemic, and for other purposes.
Sec. 2 Relief measures for section 502 and 504 direct loan borrowers
Appropriation— In addition to amounts otherwise made available, there is appropriated for fiscal year 2021, out of funds in the Treasury not otherwise appropriated, $39,000,000, to remain available until September 30, 2023, for direct loans made under sections 502 and 504 of the Housing Act of 1949 (42 U.S.C. 1472, 1474).
Administrative expenses— The Secretary may use not more than 3 percent of the amounts appropriated under this section for administrative purposes.