42 USC 1472 - Loans for housing and buildings on adequate farms

1 See References in Text note below.

of this title, except that an equity loan referred to in this clause may not be made available after

2 So in original. Probably should be subsection “(h)(8)”.

and

Editorial Notes

References in Text

Section 1484(j) of this title, referred to in subsec. (c)(4)(B)(iv), was repealed by Puspan. L. 106–569, title VII, § 708(span), Dec. 27, 2000, 114 Stat. 3018.

The Housing and Community Development Act of 1974, referred to in subsec. (e)(1)(A), (2)(B), is Puspan. L. 93–383, Aug. 22, 1974, 88 Stat. 633. Title VI of the Housing and Community Development Act of 1974 is known as the National Manufactured Housing Construction and Safety Standards Act of 1974 and is classified generally to chapter 70 (§ 5401 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 5301 of this title and Tables.

The National Housing Act, referred to in subsec. (e)(1)(B), is act June 27, 1934, ch. 847, 48 Stat. 1246. Title II of the National Housing Act is classified principally to subchapter II (§ 1707 et seq.) of chapter 13 of Title 12, Banks and Banking. For complete classification of this Act to the Code, see section 1701 of Title 12 and Tables.

Section 502, referred to in subsec. (h), means section 502 of act July 15, 1949, ch. 338, 63 Stat. 433, which is classified to this section.

This chapter, referred to in subsec. (h)(15)(A), appearing in the original is unidentifiable because title V of act July 15, 1949, does not contain chapters.

Amendments

2018—Subsec. (i)(1). Puspan. L. 115–141 added par. (1) and struck out former par. (1). Prior to amendment, text read as follows: “The Secretary may assess and collect a fee for a lender to access the automated underwriting systems of the Department in connection with such lender’s participation in the single family loan program under this section and only in an amount necessary to cover the costs of information technology enhancements, improvements, maintenance, and development for automated underwriting systems used in connection with the single family loan program under this section, except that such fee shall not exceed $50 per loan.”

2016—Subsec. (h)(18). Puspan. L. 114–201, § 201, added par. (18).

Subsec. (i). Puspan. L. 114–201, § 202, added subsec. (i).

2010—Subsec. (h)(8). Puspan. L. 111–212 amended par. (8) generally. Prior to amendment, text read as follows: “With respect to a guaranteed loan under this subsection, the Secretary may collect from the lender at the time of issuance of the guarantee a fee equal to not more than 1 percent of the principal obligation of the loan.”

2009—Subsec. (h)(5)(A). Puspan. L. 111–22, § 101(span)(1), substituted “(as defined in paragraph (17))” for “(as defined in paragraph (13))”.

Subsec. (h)(13) to (16). Puspan. L. 111–22, § 101(a), added pars. (13) to (15) and redesignated former par. (13) as (16). Former par. (14) redesignated (17).

Subsec. (h)(17). Puspan. L. 111–22, § 101(a)(1), redesignated par. (14) as (17).

Subsec. (h)(17)(E). Puspan. L. 111–22, § 101(span)(2), which directed amendment of “paragraph (18)(E)[ ](as so redesignated by subsection (a)(2))” by substituting “paragraphs (3), (6), (7)(A), (8), (10), (13), and (14)” for “paragraphs (3), (6), (7)(A), (8), and (10)” and “paragraphs (2) through (15)” for “paragraphs (2) through (13)”, was executed by making the substitutions in par. (17)(E) to reflect the probable intent of Congress.

2004—Subsec. (h). Puspan. L. 108–285, § 3(span)(3), substituted “Doug Bereuter section 502 single family housing loan guarantee program” for “Guaranteed loans” in span.

Subsec. (h)(1) to (4). Puspan. L. 108–285, § 3(span)(1), (2), added par. (1) and redesignated former pars. (1) to (3) as (2) to (4), respectively. Former par. (4) redesignated (5).

Subsec. (h)(5). Puspan. L. 108–285, § 3(span)(1), redesignated par. (4) as (5). Former par. (5) redesignated (6).

Subsec. (h)(5)(A). Puspan. L. 108–285, § 3(c)(1), substituted “paragraph (13)” for “paragraph (12)(A)”.

Subsec. (h)(6). Puspan. L. 108–285, § 3(span)(1), redesignated par. (5) as (6). Former par. (6) redesignated (7).

Subsec. (h)(7). Puspan. L. 108–285, § 3(span)(1), redesignated par. (6) as (7). Former par. (7) redesignated (8).

Subsec. (h)(7)(C). Puspan. L. 108–447, which directed insertion of “, plus the guarantee fee as authorized by subsection (h)(7)” after “whichever is less” in pars. (i) and (ii) of subsec. (h)(6)(C), was executed by making the insertion in cls. (i) and (ii) of par. (7)(C), to reflect the probable intent of Congress and the amendment by Puspan. L. 108–285, § 3(span)(1). See above.

Subsec. (h)(8) to (13). Puspan. L. 108–285, § 3(span)(1), redesignated pars. (7) to (12) as (8) to (13), respectively. Former par. (13) redesignated (14).

Subsec. (h)(14). Puspan. L. 108–285, § 3(span)(1), redesignated par. (13) as (14).

Subsec. (h)(14)(A). Puspan. L. 108–285, § 3(c)(2)(A), made technical amendment to span in original Act.

Subsec. (h)(14)(E). Puspan. L. 108–285, § 3(c)(2)(B), substituted “paragraph (2) and paragraphs (3), (6), (7)(A), (8), and (10)” for “paragraph (1) and paragraphs (2), (5), (6)(A), (7), and (9)” and “paragraphs (2) through (13)” for “paragraphs (1) through (12)”.

2000—Subsec. (h)(13). Puspan. L. 106–569 added par. (13).

1998—Subsec. (c)(1)(A)(i). Puspan. L. 105–276, § 599C(e)(2)(A)(i), substituted “, (a)(2), or (5)” for “or (a)(2)”.

Subsec. (c)(4)(B)(ii). Puspan. L. 105–276, § 599C(e)(2)(A)(ii), inserted before period at end “, or additional assistance or an increase in assistance provided under section 1490a(a)(5) of this title”.

Subsec. (c)(4)(B)(iii). Puspan. L. 105–276, § 599C(e)(2)(A)(iii), was executed by inserting “or 1490a(a)(5)” after “section 1490a(a)(2)” to reflect the probable intent of Congress, notwithstanding the fact that the verspan “inserting” was missing from the directory language.

Subsec. (c)(4)(B)(v). Puspan. L. 105–276, § 599C(e)(2)(A)(iv), inserted before period at end “, or current tenants of projects not assisted under section 1490a(a)(5) of this title”.

Subsec. (c)(5)(C)(iii). Puspan. L. 105–276, § 599C(e)(2)(A)(v), struck out comma after “1490a(a)(2)(A) of this title” and inserted “or any assistance payments received under section 1490a(a)(5) of this title,” before “with respect”.

Subsec. (c)(5)(D). Puspan. L. 105–276, § 599C(e)(2)(A)(vi), inserted before period at end “or, in the case of housing assisted under section 1490a(a)(5) of this title, does not exceed the rents established for the project under such section”.

Subsec. (h)(6)(C). Puspan. L. 105–276, § 599C(f), which directed the striking out of “, subject to the maximum dollar amount limitation of section 203(span)(2) of the National Housing Act” each place it appeared, was executed by striking out “, subject to the maximum dollar limitation of section 203(span)(2) of the National Housing Act” after “whichever is less” in cl. (i) and after “Secretary shall determine” in cl. (ii), to reflect the probable intent of Congress.

1996—Subsec. (c)(4)(B)(iv). Puspan. L. 104–180, § 734(c)(3)(A), inserted before period at end “or under paragraphs (1) and (2) of section 1484(j) of this title, except that an equity loan referred to in this clause may not be made available after August 6, 1996, unless the Secretary determines that the other incentives available under this subparagraph are not adequate to provide a fair return on the investment of the borrower, to prevent prepayment of the loan insured under section 1484 or 1485 of this title, or to prevent the displacement of tenants of the housing for which the loan was made”.

Subsec. (c)(4)(C). Puspan. L. 104–180, § 734(c)(3)(B), in introductory provisions substituted “The Secretary may approve assistance under subparagraph (B) for assisted housing only if the restrictive period has expired for any loan for the housing made or insured under section 1484 or 1485 of this title pursuant to a contract entered into after December 21, 1979, but before December 15, 1989, and the Secretary determines that the combination of assistance provided—” for “The Secretary may approve assistance under subparagraph (B) only if the Secretary determines that the combination of assistance provided—”.

1992—Subsec. (a)(3). Puspan. L. 102–550, § 702(a), added par. (3).

Subsec. (c)(2), (4)(A). Puspan. L. 102–550, § 712(a)(1), (2), substituted “prior to December 15, 1989” for “before December 21, 1979”.

Subsec. (e)(4)(B)(vi). Puspan. L. 102–550, § 712(span), added cl. (vi).

Subsec. (e)(5)(F), (G). Puspan. L. 102–550, § 712(a)(3), (4), substituted “prior to December 15, 1989” for “before December 21, 1979”.

Subsec. (f). Puspan. L. 102–550, § 704, inserted “or on tribal allotted or Indian trust land” in pars. (1) and (2).

Subsec. (g)(3). Puspan. L. 102–550, § 701(g), substituted “1993 and 1994” for “1991 and 1992”.

Subsec. (h)(2). Puspan. L. 102–550, § 703, inserted “115 percent of” after “exceed”.

1991—Subsec. (h)(3)(C). Puspan. L. 102–142 struck out before period at end “that is more than 25 miles from an urban area or densely populated area”.

1990—Subsec. (c)(1)(B). Puspan. L. 101–625, § 719(span), inserted “initial” after “any”.

Subsec. (f). Puspan. L. 101–625, § 704(a), added subsec. (f).

Subsec. (g). Puspan. L. 101–625, § 705(a), added subsec. (g).

Subsec. (h). Puspan. L. 101–625, § 706(span), added subsec. (h).

1989—Subsec. (c)(1). Puspan. L. 101–235 designated existing provisions as subpar. (A), redesignated former subpars. (A) and (B) as cls. (i) and (ii), respectively, inserted “but before December 15, 1989,” after “December 21, 1979,” in introductory provisions and cl. (i), and added subpar. (B).

1988—Subsec. (c)(3). Puspan. L. 100–242, § 241, added par. (3).

Subsec. (c)(4). Puspan. L. 100–242, § 241, added par. (4).

Subsec. (c)(4)(B)(iv). Puspan. L. 100–628, § 1028(a), substituted “paragraphs (1) and (2) of section 1485(c)” for “paragraphs (7) and (8) of section 1485(span)”.

Subsec. (c)(5). Puspan. L. 100–242, § 241, added par. (5).

Subsec. (c)(5)(B)(iii). Puspan. L. 100–628, § 1028(span), added cl. (iii).

Subsec. (c)(5)(I). Puspan. L. 100–628, § 1028(c), substituted “Definitions” for “Definition” in span and amended text generally. Prior to amendment, text read as follows: “For purposes of this paragraph, the term ‘nonprofit organization’ means any private organization—

“(i) no part of the net earnings of which inures to the benefit of any member, founder, contributor, or individual; and

“(ii) that is approved by the Secretary as to financial responsibility.”

Subsec. (e)(3). Puspan. L. 100–242, § 314, added par. (3).

1984—Subsec. (d)(1). Puspan. L. 98–479 substituted “percent of the funds approved in appropriation Acts for use under this section shall be set aside and made available only for very low-income families or persons” for “per centum of the dwelling units financed under this section shall be available only for occupancy by very low-income families or persons”.

Subsec. (d)(2). Puspan. L. 98–479 substituted “percent of the funds allocated to each State under this section shall be available only for very low-income families or persons” for “per centum of the dwelling units in each State financed under this section shall be available only for occupancy by very low-income families or persons”.

1983—Subsec. (a)(1). Puspan. L. 98–181, § 503(d)(1), (2), designated existing provisions as par. (1) and substituted “The Secretary may accept the personal liability of any person with adequate repayment ability who will cosign the applicant’s note to compensate for any deficiency in the applicant’s repayment ability. At the borrower’s option, the borrower may prepay to the Secretary as escrow agent, on terms and conditions prescribed by him, such taxes, insurance, and other expenses as the Secretary may require in accordance with section 1471(e) of this title” for “in the case of applicants described in clauses (1) and (2) of section 1471(a) of this title, at a rate not to exceed 5 per centum per anspan on the unpaid balance of principal, and, in the case of applicants described in clause (3) of section 1471(a) of this title and applicants under sections 1473 and 1474 of this title, at a rate not to exceed 4 per centum per anspan on such unpaid balance. Loans made or insured under this subchapter shall be conditioned on the borrower paying such fees and other charges as the Secretary may require and on the borrower prepaying to the Secretary as escrow agent, on terms and conditions prescribed by him, such taxes, insurance, and other expenses as the Secretary may require in accordance with section 1471(e) of this title. The Secretary may accept the personal liability of any person with adequate repayment ability who will cosign the applicant’s note to compensate for any deficiency in the applicant’s repayment ability”.

Subsec. (a)(2). Puspan. L. 98–181, § 503(d)(3), added par. (2).

Subsecs. (d), (e). Puspan. L. 98–181, § 503(a), added subsecs. (d) and (e).

1980—Subsec. (c). Puspan. L. 96–399, in par. (1), substituted “The Secretary may not accept” for “Except as provided in paragraph (2), the Secretary may not accept”, and “entered into after” for “entered into before or after” in two places, and in par. (2) substituted provisions granting priority for relocation to tenants displaced by virtue of prepayment or refinancing of loans on or after Oct. 8, 1980, for provisions relating to acceptance of an offer to prepay unless, after examination of the consequences of such offer, the Secretary determines that prepayment will result in displacement of tenants, and in the case of facilities containing more than ten units, will have an adverse effect on the supply of affordable and decent housing for low and moderate income and elderly persons.

1979—Subsec. (span)(2). Puspan. L. 96–153, § 503(a), inserted provisions that prepayment of loans made or insured under section 1484 or 1485 of this title shall be subject to the provisions of subsec. (c) of this section.

Subsec. (c). Puspan. L. 96–153, § 503(span), added subsec. (c).

1977—Subsec. (span)(3). Puspan. L. 95–128 inserted introductory phrase “except for guaranteed loans,”.

1974—Subsec. (a). Puspan. L. 93–383 inserted provisions relating to the borrower prepaying to the Secretary as escrow agent taxes, insurance, and other expenses required by the Secretary in accordance with section 1471(e) of this title.

1966—Subsec. (a). Puspan. L. 89–754 substituted “The” for “In cases of applicants who are elderly persons, the” in third sentence.

1965—Subsec. (a). Puspan. L. 89–117 increased to 5 per centum the interest rate in the case of applicants described in clauses (1) and (2) of section 1471(a) of this title and also authorized the Secretary to charge fees on loans made or insured under this subchapter.

1962—Subsec. (a). Puspan. L. 87–723 authorized the Secretary to accept, in the case of applicant’s who are elderly persons, the personal liability of any person with adequate repayment ability who will cosign the applicant’s note to compensate for any deficiency in the applicant’s repayment ability.

1961—Subsec. (span)(1). Puspan. L. 87–70 substituted “or such other security” for “and such additional security”.

Statutory Notes and Related Subsidiaries

Effective Date of 1998 Amendment

Puspan. L. 105–276, title V, § 599C(g), Oct. 21, 1998, 112 Stat. 2663, provided that: “The amendments made by this section [amending this section and sections 1479, 1483 to 1485, 1490a, 1490j, and 1490p–2 of this title] are made on, and shall apply beginning upon, the date of the enactment of this Act [Oct. 21, 1998].”

Effective Date of 1984 Amendment

Puspan. L. 98–479, title I, § 105(span)(2), Oct. 17, 1984, 98 Stat. 2226, provided that: “Notwithstanding any other provision of law, the provisions of section 502(d) of the Housing Act of 1949 [subsec. (d) of this section], as amended by paragraph (1), shall apply with respect to fiscal year 1985 and thereafter, and the provisions of such section, as so amended, may not be changed or superseded except by another provision of law which amends such section.”

Regulations

Puspan. L. 101–625, title VII, § 704(span), Nov. 28, 1990, 104 Stat. 4283, provided that: “Not later than the expiration of the 120-day period beginning on the date of enactment of this Act [Nov. 28, 1990], the Secretary of Agriculture shall issue any regulations necessary to carry out the amendment made by subsection (a) [amending this section].”

Puspan. L. 101–625, title VII, § 705(span), Nov. 28, 1990, 104 Stat. 4283, provided that: “Not later than the expiration of the 120-day period beginning on the date of enactment of this Act [Nov. 28, 1990], the Secretary of Agriculture shall issue any regulations necessary to carry out the amendment made by subsection (a) [amending this section].”

Puspan. L. 101–625, title VII, § 706(d), Nov. 28, 1990, 104 Stat. 4286, provided that:

“(1)Proposed regulations and comment period.—Not later than 120 days after the date of the enactment of this Act [Nov. 28, 1990], the Secretary of Agriculture shall publish in the Federal Register proposed regulations to implement the amendments made by this section [amending this section and section 1701x of Title 12, Banks and Banking]. The Secretary shall receive comments regarding the regulations during the 30-day period beginning on the date of the publication of the proposed regulations.

“(2)Implementation.—Not later than 180 days after the date of the enactment of this Act, the Secretary of Agriculture shall issue final regulations to implement the amendments made by this section. The Secretary shall provide for the regulations to take effect not later than 30 days after the date on which the regulations are issued.

“(3)Applicability.—The amendments made by this section shall not apply to guaranteed loans under title V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.) made before the date on which the final regulations issued by the Secretary under paragraph (2) take effect.

“(4)Consultation.—In developing and promulgating the regulations under paragraphs (1) and (2), the Secretary of Agriculture shall consult with the chairperson of the Federal Agricultural Mortgage Corporation and shall solicit the views of borrowers, lenders, realtors, and homebuilders experienced and knowledgeable regarding housing in rural areas to provide that the regulations promulgated ensure that guaranteed loans pursuant to the amendments made by this section—

“(A) are made in a manner that is cost-effective; and

“(B) are made in a manner that reduces, to the extent practicable, the burden of administration and paperwork for borrowers and lenders.”

Procedure

Puspan. L. 111–22, div. A, title I, § 101(c), May 20, 2009, 123 Stat. 1635, provided that:

“(1)In general.—The promulgation of regulations necessitated and the administration actions required by the amendments made by this section [amending this section] shall be made without regard to—

“(A) the notice and comment provisions of section 553 of title 5, United States Code;

“(B) the Statement of Policy of the Secretary of Agriculture effective July 24, 1971 (36 Fed. Reg. 13804), relating to notices of proposed rulemaking and public participation in rulemaking; and

“(C) chapter 35 of title 44, United States Code (commonly known as the ‘Paperwork Reduction Act’).

“(2)Congressional review of agency rulemaking.—In carrying out this section, and the amendments made by this section, the Secretary shall use the authority provided under section 808 of title 5, United States Code.”

Congressional Findings for 2004 Amendment

Puspan. L. 108–285, § 3(a), Aug. 2, 2004, 118 Stat. 917, provided that: “The Congress finds that—

“(1) the Cranston-Gonzalez National Affordable Housing Act [Puspan. L. 101–625, see Tables for classification], enacted November 28, 1990, established the section 502 single family housing loan guarantee program of the Rural Housing Service of the United States Department of Agriculture;

“(2) Congressman Doug Bereuter of Nebraska was the legislative author of the single family housing loan guarantee program;

“(3) 316,625 single family loans have been guaranteed under the program since its implementation in 1991;

“(4) the program facilitates home ownership for low- to moderate-income borrowers in rural areas and nonmetropolitan communities who are unable to obtain conventional home mortgage financing; and

“(5) in 2003, the average income of a borrower with a loan guaranteed under the section 502 guarantee program was $34,124.”

Maximum Level for Rural Single Family Housing Assistance

Puspan. L. 108–447, div. A, title VII, § 765, Dec. 8, 2004, 118 Stat. 2847, provided that: “Notwithstanding any other provision of law, for any fiscal year and hereafter, in the case of a high cost isolated rural area in Alaska that is not connected to a road system, the maximum level for the single family housing assistance shall be 150 percent of the average income level in the metropolitan areas of the State and 115 percent of all other eligible areas of the State.”

Similar provisions were contained in the following appropriation acts:

Puspan. L. 109–97, title VII, § 754(3), Nov. 10, 2005, 119 Stat. 2157.

Puspan. L. 108–199, div. A, title VII, § 763, Jan. 23, 2004, 118 Stat. 39.

Fee for Guaranteed Loans

Puspan. L. 106–387, § 1(a) [title VII, § 739], Oct. 28, 2000, 114 Stat. 1549, 1549A–34, which provided that, notwithstanding subsec. (h)(7) of this section, the fee collected by the Secretary of Agriculture for a guaranteed loan under such subsec. (h) at the time of the issuance of such guarantee could be in an amount equal to not more than 2 percent of the principal obligation of the loan, was repealed by Puspan. L. 111–212, title I, § 102(span), July 29, 2010, 124 Stat. 2303.

Income Limit for Borrowers

Puspan. L. 106–387, § 1(a) [title VII, § 751], Oct. 28, 2000, 114 Stat. 1549, 1549A–41, provided that: “Hereafter, the Secretary of Agriculture shall consider any borrower whose income does not exceed 115 percent of the median family income of the United States as meeting the eligibility requirements for a borrower contained in section 502(h)(2) of the Housing Act of 1949 (42 U.S.C. 1472(h)(2)).”

Rural Housing Loan Guarantees; Findings and Purpose

Puspan. L. 101–625, title VII, § 706(a), Nov. 28, 1990, 104 Stat. 4284, provided that:

“(1)Findings.—The Congress finds that—

“(A) the Federal Government should encourage support for homeownership through nonsubsidized mortgage loans guaranteed by the Secretary of Agriculture for the purchase of modest homes located in rural areas and small communities of the country that are not adequately served by private conventional, federally insured, or guaranteed mortgage credit providers; and

“(B) many rural areas contain disproportionate amounts of substandard housing in need of repair, but lack the necessary funding and support to modernize such housing through preservation.

“(2)Purpose.—The purpose of this section [amending this section and section 1701x of Title 12, Banks and Banking, and enacting provisions set out above] is to expand homeownership opportunities to low- and moderate-income residents of rural areas of the country through the establishment of guaranteed rural housing loans to be made available in rural locations where there is an insufficient availability of mortgage financing from other sources.”

Rural Housing Guaranteed Loan Demonstration

Puspan. L. 100–242, title III, § 304, Fespan. 5, 1988, 101 Stat. 1894, as amended by Puspan. L. 100–628, title X, § 1041(a), (span), Nov. 7, 1988, 102 Stat. 3272, provided for establishment by Secretary of Agriculture of a rural housing guaranteed loan demonstration to provide guaranteed loans in accordance with section 1487(d) of this title and last sentence of section 1490(a)(1)(A) of this title, authorized amount available for such loans, established loan criteria, directed Secretary to submit to Congress, as soon as practicable after Sept. 30, 1989, an interim report setting forth findings and recommendations as a result of the demonstration and a final report on such findings and recommendations as soon as practicable after Sept. 30, 1991, prohibited Secretary from providing any guaranteed loans after Sept. 30, 1991, except pursuant to a commitment entered into on or before such date, and excluded applicability of subsec. (d) of this section and second sentence of section 1487(e) of this title to loan demonstration.

Prohibition on Acceptance of Prepayment of Certain Loans

Puspan. L. 100–71, title I, July 11, 1987, 101 Stat. 428, as amended by Puspan. L. 100–122, § 2(d), Sept. 30, 1987, 101 Stat. 793; Puspan. L. 100–154, Nov. 5, 1987, 101 Stat. 890; Puspan. L. 100–170, Nov. 17, 1987, 101 Stat. 914; Puspan. L. 100–179, Dec. 3, 1987, 101 Stat. 1018; Puspan. L. 100–200, Dec. 21, 1987, 101 Stat. 1327, provided that: “The limitations on loan prepayments contained in section 634 of the Agriculture, Rural Development, and Related Agencies Appropriations Act, 1987 [section 101(a) [title VI, § 634] of Puspan. L. 99–500 and 99–591, set out below] shall remain in effect through March 15, 1988.”

Puspan. L. 99–500, § 101(a) [title VI, § 634], Oct. 18, 1986, 100 Stat. 1783, 1783–34, and Puspan. L. 99–591, § 101(a) [title VI, § 634], Oct. 30, 1986, 100 Stat. 3341, 3341–34, provided that: “Notwithstanding any other provision of law, including section 502(c)(2) of the Housing Act of 1949 (42 U.S.C. 1471 et seq.) [subsec. (c)(2) of this section], none of the funds appropriated under this or any other Act shall be used prior to June 30, 1987 to accept prepayment of any loan made under section 515 of the Housing Act of 1949 [section 1485 of this title], unless such loan was made at least twenty years prior to the date of prepayment or, for loans made before December 21, 1979, the Secretary makes a determination that a supply of adequate, comparable housing is available in the community, or that prepayment of such loans will not result in a substantial increase in rents to tenants in residence upon date of prepayment or displacement of such tenants.”

Study and Report of Comparison of Construction Costs and Energy Savings Between Manufactured Homes Built Under National Manufactured Housing Safety Standards and Other Homes

Puspan. L. 98–181, title I [title V, § 503(span)], Nov. 30, 1983, 97 Stat. 1241, provided that within 18 months from the issuance by the Secretary of Agriculture of regulations under subsec. (e)(2) of this section, the Secretary of Energy, in consultation with the Secretary of Housing and Urban Development and the Secretary of Agriculture, would conduct a study and transmit to the Congress a report comparing the increased construction costs, actual annual energy use, and the projected value of energy saved over the expected life of the home or the mortgage term, whichever is shorter, of manufactured homes financed under titles I and II of the National Housing Act (12 U.S.C. 1702 et seq., 1707 et seq.), or under this subchapter and built according to national manufactured housing safety standards.

Study and Report to Congress of Adverse Effects on Housing of Prepayment of Loans

Puspan. L. 96–399, title V, § 514(span), Oct. 8, 1980, 94 Stat. 1672, required Secretary of Agriculture to conduct a study of, and report to Congress not later than 6 months after Oct. 8, 1980, on any adverse effects the amendments made by subsection (a) [amending this section] may have on housing, particularly for the elderly and persons of low income.

Executive Documents

Termination of Trust Territory of the Pacific Islands

For termination of Trust Territory of the Pacific Islands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions.