§2708. Authorization of appropriations; limitations; expiration date for loans and advances of credit

(a) There are authorized to be appropriated for purposes of this chapter such sums as may be necessary, except that the funds authorized to be appropriated for section 2705 of this title shall not exceed $500,000,000. Any amounts so appropriated shall remain available until expended.

(b) No loans or advance of credit shall be insured and no emergency mortgage relief payments made under this chapter after September 30, 1977, except if such loan or advance or such payments are made with respect to a mortgagor receiving the benefit of a loan or advance insured, or emergency mortgage relief payments made, under this chapter on such date.

( Pub. L. 94–50, title I, §109, July 2, 1975, 89 Stat. 253 ; Pub. L. 94–375, §13(a), Aug. 3, 1976, 90 Stat. 1075 .)

Amendments

1976-Subsec. (b). Pub. L. 94–375 substituted "September 30, 1977" for "June 30, 1976".