Political Quotes

“I understand that the joint resolution would continue funding actions during fiscal year 1996, for HUD essentially under the provisions of the fiscal year 1995 VA, HUD, an Independent Agencies Appropriation Act. Funding would continue at a variety of different levels, depending on the circumstances, under the authority and conditions of the 1995 appropriation act. Some of the authority and conditions is in the appropriation accounts themselves, such as the Stewart B. McKinney Act provision in the annual contributions for assisted housing account that permits the proceeds of certain refinancings to be split between PHAs and the Treasury. Other authority and conditions, such as the amendments to the U.S. Housing Act of 1937, at section 8(c)(2)(A), that purports to sunset at the end of fiscal year 1995, are in the administrative provisions. Is my understanding correct that the Secretary of Housing and Urban Development will continue under this joint resolution to have the authority to share savings from bond refinancings with State and local bond issuers pursuant to the Stewart B. McKinney Act, and continue to apply the provisions that would otherwise sunset?”