65% to the Housing Trust Fund
35% to the Federal Magnet Fund
Both of these are low-income housing grant entities.
“La Raza supporting politicians have slipped the exact text of H.R. 1999, which would give La Raza $5 million of taxpayer funds this year and $10 million each year thereafter, into Senate bill S.1923, which is charmingly named the Housing Assistance Authorization Act of 2007”
http://www.diggersrealm.com/mt/archives/002471.html
of course the money goes into a general pool first and then various “Low-Income Housing” government projects get money dolled out so no it is not going from TARP to La Raza, but the La Raza funding will get TARP dollars. Count on it.
Also look here...
“The housing package signed into law by President Bush extends an unlimited line of credit to troubled mortgage giants Freddie Mac and Fannie Mae and rescues homeowners near or in foreclosure. The measure also increases the federal debt limit by another $800 billion — and sends millions of dollars in aid to [the National Council of La Raza] and the Association of Community Organizations for Reform Now, or ACORN.”
more
http://online.wsj.com/article/SB121745181676698197.html
more
http://www.govtrack.us/congress/billtext.xpd?bill=s110-1923
This is out of the bill (I’m starting to sound like a broken record). The deposit of 20% of the proceeds/profits to Affordable Housing Trust Fund and Federal Magnet Fund is DELETED.
Thank you. Perhaps you can check again, to see if the actual, newly drafted bill contains this. Boehner says ACORN is not in it.