42 U.S.C. § 8107 — Appropriations

(a) Congress is authorized to appropriate $29,476,000 for fiscal year 1993 and $30,713,992 for fiscal year 1994 to the corporation. No more than 15% of any year's appropriated money can go to administrative expenses. Any money appropriated beyond what's needed to keep the Neighborhood Reinvestment Corporation's existing neighborhood-revitalization work going must be used to: grow the national neighborhood housing services network, including rental housing resources; grow the loan-purchase capacity of the national secondary market run by Neighborhood Housing Services of America; fund grants encouraging owners to keep properties as low-income housing when eligible for prepayment under the Low-Income Housing Preservation and Resident Ownership Act of 1990; help the network buy HUD-owned multifamily and single-family properties, fix them up if needed, and sell them to low- and moderate-income families; and give matching capital grants, operating subsidies, and technical help to mutual housing associations for developing, buying, and fixing up properties, including HUD-owned ones, for low- and moderate-income families. (b) Money appropriated under this section stays available until spent — it doesn't expire at year's end. (c) Non-federal money the corporation receives, and money any grant recipient gets from a source other than the corporation, must be tracked and reported separately from federal money. (d) The corporation must prepare a business-style budget every year and submit it to the Office of Management and Budget, following whatever rules the President sets for timing, format, and content. The President's version of that budget must be sent to Congress as part of the regular annual federal budget, and the corporation may submit budget updates from time to time.