Section 1 Short title
This Act may be cited as the “Rural Housing Assistance Act”.
Rural Housing Assistance Act
A BILL
To revise the dollar amount limitations for rural housing repair loans under section 504 of the Housing Act of 1949, and for other purposes.
Sec. 2 Section 504 rural housing repair loans
Section 504(a) of the Housing Act of 1949 (42 U.S.C. 1474(a)) is amended—
by striking the third sentence and inserting the following: “The maximum aggregate amount of outstanding loans under this section to one household for one dwelling shall not exceed $80,000, the maximum aggregate amount of grants under this section to one household for one dwelling shall not exceed $20,000, and the maximum aggregate amount of loans and grants under this section to one household for one dwelling shall not exceed $100,000.”; and
in the fourth sentence, by striking “$7,500” and inserting “$15,000”.