118 STAT. 3309 PUBLIC LAW 108–447—DEC. 8, 2004 Act, as amended, shall not exceed a loan principal of $185,000,000,000. During fiscal year 2005, obligations to make direct loans to carry out the purposes of section 204(g) of the National Housing Act, as amended, shall not exceed $50,000,000: Provided, That the foregoing amount shall be for loans to nonprofit and govern mental entities in connection with sales of single family real prop erties owned by the Secretary and formerly insured under the Mutual Mortgage Insurance Fund. For administrative expenses necessary to carry out the guaran teed and direct loan program, $356,906,000, of which not to exceed $352,906,000 shall be transferred to the appropriation for ‘‘Salaries and expenses’’; and not to exceed $4,000,000 shall be transferred to the appropriation for ‘‘Office of Inspector General’’. In addition, for administrative contract expenses, $78,000,000, of which $15,000,000 shall be transferred to the Working Capital Fund: Provided, That to the extent guaranteed loan commitments exceed $65,500,000,000 on or before April 1, 2005, an additional $1,400 for administrative contract expenses shall be available for each $1,000,000 in additional guaranteed loan commitments (including a pro rata amount for any amount below $1,000,000), but in no case shall funds made available by this proviso exceed $30,000,000. GENERAL AND SPECIAL RISK PROGRAM ACCOUNT (INCLUDING TRANSFERS OF FUNDS) For the cost of guaranteed loans, as authorized by sections 238 and 519 of the National Housing Act (12 U.S.C. 1715z–3 and 1735c), including the cost of loan guarantee modifications, as that term is defined in section 502 of the Congressional Budget Act of 1974, as amended, $10,000,000, to remain available until expended: Provided, That these funds are available to subsidize total loan principal, any part of which is to be guaranteed, of up to $35,000,000,000. Gross obligations for the principal amount of direct loans, as authorized by sections 204(g), 207(l), 238, and 519(a) of the National Housing Act, shall not exceed $50,000,000, of which not to exceed $30,000,000 shall be for bridge financing in connection with the sale of multifamily real properties owned by the Secretary and formerly insured under such Act; and of which not to exceed $20,000,000 shall be for loans to nonprofit and governmental enti ties in connection with the sale of single family real properties owned by the Secretary and formerly insured under such Act. In addition, for administrative expenses necessary to carry out the guaranteed and direct loan programs, $227,767,000, of which $207,767,000 shall be transferred to the appropriation for ‘‘Salaries and expenses’’; and of which $20,000,000 shall be trans ferred to the appropriation for ‘‘Office of Inspector General’’. In addition, for administrative contract expenses necessary to carry out the guaranteed and direct loan programs, $86,000,000, of which $9,600,000 shall be transferred to the Working Capital Fund: Provided, That to the extent guaranteed loan commitments exceed $8,426,000,000 on or before April 1, 2005, an additional $1,980 for administrative contract expenses shall be available for each $1,000,000 in additional guaranteed loan commitments over $8,426,000,000 (including a pro rata amount for any increment
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