The US House of Representatives passed the USDA Funding (HR 2997) on July 9 while the Senate Appropriations Committee passed its own version of the legislation (S. 1406) on July 7. This measure includes funding for the USDA Rural Development Program. Key funding highlights include:
USDA Rural Development Program | Passed House (H.R. 2997) | Senate Appropriations Committee (S. 1406) | FY 2010 | FY 2009 Approp. |
Section 515 Rental Housing | $80 million | $695 million | $69.5 million | $69.5 million |
Section 538 Rental Housing Guarantee Program | $129.1 million | $129.1 million | $129.1 million | $129.1 million |
It is notable that like the FY 2009 appropriations act, both the House and Senate would eliminate interest subsidies for Section 538 guaranteed loans.
