Section 1. Short title
This Act may be cited as the Rural Housing Assistance Act.
Section 2. Section 504 rural housing repair loans
Section 504(a) of the Housing Act of 1949 (42 U.S.C. 1474(a)) is amended—
(1) 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
(2) in the fourth sentence, by striking $7,500 and inserting $15,000.