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![Official portrait of Sen. Garn, E. J. (Jake) [R-UT]](https://www.congress.gov/img/member/g000072_200.jpg)
United States · Official source
2,259 records where Sen. Garn, E. J. (Jake) [R-UT] is listed as a sponsor, author, or other actor. Search with topics and years
United States · United States Congress · 20 October 1983
Grants a Federal charter to the Polish Legion of American Veterans, U.S.A.
United States · United States Congress · 19 October 1983
Criminal Fine Collection Act of 1983 - Amends the Federal criminal code with respect to the imposition, payment, and collection of fines. Lists factors that the court must consider in determining whether to impose a fine, including: (1) the ability of the defendant to pay; (2) the burden that payment will impose on the defendant; and (3) any restitution or reparation made by the defendant. States that payment of a fine is due immediately unless the court requires payment by installment or by any date certain. Permits a sentence to pay a fine to be stayed while an appeal is taken. Makes a fine delinquent if any portion of such fine is not paid within 30 days of when it is due. Provides that a fine is in default if it is more than 90 days delinquent. Allows for the modification or remission of a sentence to pay a fine. Requires the clerk to forward each fine payment to the U.S. Treasury and notify the Attorney General of its receipt. Requires the court to certify to the Attorney General when a fine exceeding $100 is imposed, modified, or remitted. Makes the Attorney General responsible for the collection of any unpaid fine for which certification has been issued. Allows the court to impose interest and monetary penalties for any willful nonpayment. Establishes civil remedies for the satisfication of an unpaid fine. Provides that a judgment imposing a fine may be enforced by execution against the property of the person fined as are judgments in civil cases. Allows the court to resentence a person upon willful failure to pay a fine to any sentence which might originally have been imposed. Provides for a statute of limitations on the liability to pay a fine of 20 years or upon death of the person fined. Provides penalties for criminal default of a fine. Makes payment of a fine a condition of probation or parole in certain circumstances. Requires the Attorney General to include in the annual crime report steps taken to implement this Act and any progress achieved in criminal fine collection.
United States · United States Congress · 6 October 1983
Alternative Energy Tax Incentives Act of 1983 - Amends the Internal Revenue Code to extend the residential energy income tax credit for renewable energy sources for five years from 1985 to 1990. Reduces the qualifying percentage for energy source expenditures by specified increments between 1985 and 1990. Increases from 15 percent to 20 percent the investment tax credit for solar, wind, geothermal, and ocean thermal property. Extends such tax credit for five years from 1985 to 1990. Extends the investment tax credit for hydroelectric generating property and biomass property for five years from 1985 to 1990. Reestablishes the credit for cogeneration property until 1990. Qualifies until 1995 affirmative commitments for solar, wind, geothermal, ocean thermal, biomass, and cogeneration projects begun by December 31, 1990. Eliminates the 20 percent limitation for oil and natural gas used in cogeneration facilities. Qualifies as biomass property methane-containing gas produced by anaerobic digestion from nonfossil waste materials. Revises the definition of geothermal deposit to lower the required temperature to 104 degrees Fahrenheit. (Present regulations require a temperature of 122 degrees Fahrenheit.) Includes shale oil property and tar sands equipment as energy property for purposes of the investment tax credit. Grants a 15 percent depletion allowance for tar sands. Allows an investment tax credit for photovoltaic energy property. Defines photovoltaic property.
United States · United States Congress · 6 October 1983
Declares that it should be U.S. policy to: (1) support the people of Afghanistan in their struggle to be free from foreign domination; (2) provide the Afghans, upon request, with material assistance; and (3) pursue a negotiated settlement of the war in Afghanistan based on the total withdrawal of Soviet troops and the recognition of the right of the Afghans to choose their own destiny.
United States · United States Congress · 6 October 1983
Expresses the sense of Congress that Congress should encourage the establishment of the National Museum of the United States Army.
United States · United States Congress · 5 October 1983
Allows the President an item veto of appropriations bills except any item of appropriation for the legislative branch or the judicial branch. Requires the President, in signing such a bill, to designate the provisions disapproved and return the bill to the house in which it originated. Subjects such bills to the same proceedings as other bills disapproved by the President.
United States · United States Congress · 5 October 1983
Constitutional Amendment - Permits the President to reduce or veto any item of appropriation in any Act or joint resolution, except an item of appropriation for the legislative branch or the judicial branch. Requires the President to return with his objections any item of appropriation reduced or vetoed to the House in which the bill originated. Subjects such bills to the same proceeding as other bills disapproved by the President.
United States · United States Congress · 5 October 1983
Declares that it is the sense of Congress that there should be coordination of fiscal and monetary policy to reduce interest rates and that the Federal Reserve should: (1) continue to guide its behavior by reference to monetary and credit aggregates; (2) follow a monetary policy consistent with a continued reduction of interest rates; and (3) strive for greater stability in the growth rates of the monetary aggregates. Directs the Federal Reserve Board to include in its reports to Congress an analysis of the effects in current and prospective years on credit markets and the economy: (1) of the Federal budgets deficits or surpluses projected for the next three fiscal years in certain presidential and congressional documents; and (2) of alternative deficits or surpluses.
United States · United States Congress · 3 October 1983
Appoints Samuel Curtis Johnson to the vacancy on the Board of Regents of the Smithsonian Institution.
United States · United States Congress · 29 September 1983
Condemns the Soviet Union's systematic disregard for human life and liberties and urges the President to: (1) proclaim May 28, 1984, as a day to commemorate the fiftieth anniversary of the introduction of the original resolution on the Ukrainian famine in the House of Representatives; (2) call the attention of the world to the Soviet policies which caused Ukrainian deaths by famine during 1932 through 1933; and (3) urge the Soviet Union to remove restrictions on the shipment of food and other necessities to Soviet citizens by private individuals and charitable organizations.
United States · United States Congress · 28 September 1983
Designates July 20, 1984, as National P.O.W./M.I.A. Recognition Day.
United States · United States Congress · 22 September 1983
Demand Deposit Deregulation Act - Amends the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners Loan Act to repeal prohibitions against payment of interest on demand deposits (NOW accounts) by Federal Reserve banks, by insured non-member banks and insured branches of foreign banks, and by Federal savings and loan associations or savings banks. Amends the Federal Reserve Act to exempt from reserve requirements: (1) any category of deposits or accounts first authorized under Federal law in any State after April 1, 1980; and (2) an amount equal to the amount by which current total demand deposits exceeds the amount of demand deposits held by an institution (located outside of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont) on a daily average basis during the 14-day period preceding the date of enactment of this Act. Requires the Depository Institutions Deregulation Committee to establish rules concerning the payment of interest on demand deposits. Repeals the requirement that the Committee meet in public at least quarterly.
United States · United States Congress · 21 September 1983
Credit and Debit Card Counterfeiting and Fraud Act of 1983 - Amends the Federal criminal code to make it an offense to knowingly and with intent to defraud produce, buy, sell, or transfer a credit card or account which is counterfeit, forged, lost, or stolen. Makes it a Federal offense to possess with the intent to defraud five or more credit cards or fraudulent payment devices. Makes it unlawful to produce, buy, sell, transfer, or possess equipment used in the production of such fraudulent payment devices. Includes within the prohibition of the Act any individual who attempts or conspires to commit any of these offenses. Authorizes the United States Secret Service to investigate offenses under this section.
United States · United States Congress · 20 September 1983
Declares a named individual to have satisfied certain requirements of the Immigration and Nationality Act relating to eligibility for naturalization.
United States · United States Congress · 14 September 1983
Amends the Colorado River Basin Salinity Control Act to authorize the Secretary of Agriculture to establish a voluntary on-farm salinity control program in cooperation with private landowners to reduce watershed erosion on both non-Federal and Department of Agriculture lands in order to protect the water quality of the Colorado River. Authorizes the Secretary to: (1) identify salt sources; (2) reduce salt levels through improved farm irrigation and watershed management practices; (3) provide technical, monitoring, and cost-sharing assistance; and (4) carry out research, demonstration, and education activities. Requires the Secretary to describe proposed measures in reports to the appropriate congressional committees, the Advisory Council, and the Governor of any affected State. Prohibits fund expenditures until 60 days after any such report is filed. Authorizes the Secretary to use Department of Agriculture agencies, including the Commodity Credit Corporation (CCC), or to authorize participating agencies to make grants or enter into contracts, to carry out such program. Authorizes appropriations. Prohibits the CCC from making any disbursements unless such amounts are covered in advance by appropriations Acts. Requires a program report to Congress by January 1, 1988, and at five-year intervals thereafter.
United States · United States Congress · 4 August 1983
Extends the lease terms of a certain numbered U.S. oil and gas lease.
United States · United States Congress · 4 August 1983
Amends the Federal criminal code to establish criteria for the imposition of the death penalty for Federal crimes. Requires the Government, for any offense punishable by death, to serve notice upon the defendant a reasonable time before trial or acceptance of a plea that it intends to seek the death penalty and the aggravating factors upon which it will rely. Requires a separate sentencing hearing before a jury, or the court upon motion by the defendant, when the defendant is found guilty or pleads guilty to an offense punishable by death. Allows the defendant and the Government to present any information relevant to sentencing, without regard to the rules of evidence, but permits information to be excluded where its probative value is substantially outweighed by the danger of unfair prejudice, confusion of the issues, or misleading the jury. Specifies mitigating factors which the defendant must establish by a preponderance of the information and aggravating factors which the Government must prove beyond a reasonable doubt. Includes as threshold, aggravating factors for homicide that the defendant: (1) intentionally killed the victim; (2) intentionally inflicted serious bodily injury which resulted in death of the victim; (3) intentionally participated in an act which he reasonably should have known would create grave risk of death to a person and the victim did die as a direct result of the act; or (4) attempted to kill the President of the United States. Sets forth special aggravating factors with respect to the crimes of treason, espionage, homicide, and attempted murder of the President. Includes among the mitigating factors that the defendant was less than 18 years old at the time of the crime. Directs the court, or the jury by unanimous vote, to impose the death penalty upon a finding that such sentence is justified based on consideration of both the aggravating and mitigating factors. Requires the court to instruct the jury not to consider the race, color, national origin, creed, or sex of the defendant in its consideration of the sentence. Limits the circumstances under which the offense of delivering defense information to aid foreign governments is punishable by death. Allows the death penalty to be imposed for the murder of foreign officials and for an offense of kidnapping resulting in the death of any person. Eliminates the death penalty for the crime of rape. Authorizes the death penalty for the crime of attempting to kill the President of the United States if the attempt results in bodily injury to the President or otherwise comes dangerously close to causing his death. Establishes procedures for appeal from a death sentence. Requires the Court of Appeals, upon considering the record and the information and procedures of the sentencing hearing, to affirm the decision if: (1) the sentence was not imposed under influence of passion, prejudice, or arbitrariness; and (2) the information supports the finding of aggravating factors or the absence of mitigating factors. Requires the court to provide a written explanation of its determination. Provides for the death penalty for murders committed by prisoners in Federal correctional institutions.
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to allow the establishment of tax-exempt trusts for investments in mortgages (TIM). Defines a TIM as a corporation, trust, or association: (1) which is managed by one or more trustees or directors; (2) the beneficial ownership of which is evidenced by registered transferable shares or by transferable certificates of beneficial interest; (3) which would otherwise be taxable as a domestic corporation; and (4) which is not a financial institution or an issuance company. Sets forth special rules and investment requirements for qualification as a TIM. Excludes such trusts from taxation. Requires that a TIM shall: (1) use the cash method of accounting; and (2) use the calendar year as its accounting period. Requires that a TIM shareholder shall be treated as if the TIM was partnership and the shareholder was a partner. Sets forth rules for the treatment of dispositions of qualified obligations. Sets forth rules for the treatment of 20 percent or more shareholders. Sets forth rules for the recognition of gains and losses by shareholders. Prohibits certain transactions by TIM'S. Imposes an excise tax on any such prohibited transactions.
United States · United States Congress · 4 August 1983
Secondary Mortgage Market Enhancement Act of 1983 - Title I: Securities Laws Amendments - Amends the Securities Act of 1933 to exempt from the securities registration requirements securities backed by second mortgages, cooperative housing loans, and manufactured home loans. Expands the type of allowable security to include mortgage-related payment bonds. Exempts from the securities registration requirements securities originated by any Department of Housing and Urban Development approved mortgagee (principally mortgage bankers) in addition to financial institutions. Requires that the current minimum transaction amount of $250,000 be applied only to the initial purchase amount. Permits a 120 day time limit on the cash payment for the security (currently 60 days). Permits broker-dealers to extend credit to buyers of mortgage-related securities on the same basis as they may for government agency securities. Amends the net capital requirements applied to broker-dealers to direct the Securities and Exchange Commission to require for investment grade mortgage securities held in a dealer's inventory only the same amount of capital as government securities of a comparable maturity. Amends the Home Owner's Loan Act of 1933 and the Federal Credit Union Act to allow Federally-chartered financial institutions, including credit unions, to invest in mortgage-related securities subject only to limitations that the appropriate regulating board might impose. Permits national banks to underwrite and deal in investment grade mortgage-related securities. Preempts State blue sky and legal investment laws and regulations so that investment grade mortgage-related securities may be purchased by State-chartered and regulated financial institutions, insurance companies, pension funds, trustees or other regulated entities. Permits a State to reassert limitations on investments in mortgage securities within two years of enactment of these provisions if it finds such regulation necessary. Directs the Securities and Exchange Commission to extend its experimental self registration rule beyond the current September 1983 expiration date. Title II: Federal Home Loan Mortgage Corporation and Federal National Mortgage Association Amendments - Requires that any issuance of preferred stock by the Federal Home Loan Mortgage Corporation (FHLMC) or the Federal National Mortgage Association (FNMA) must comply with the New York Stock Exchange rules and procedures regarding the rights of preferred stockholders. Permits the FHLMC to purchase or deal in junior lien mortgages on the same basis as FNMA. Revises FHLMC's manufactured home loan authority to cover such loans even where the security property is real, personal, or mixed. Allows the FHLMC to purchase State agency insured mortgages. Prohibits the FHLMC from guaranteeing mortgage-backed securities issued by another entity.
United States · United States Congress · 4 August 1983
Designates August 4, 1984, as Coast Guard Day.
United States · United States Congress · 4 August 1983
Expresses the sense of the Senate that the United States should seek to: (1) urge other governments to conduct their own investigations of suspected chemical warfare; (2) help the United Nations gain access for U.N. investigators to areas where chemical and toxin weapons use is suspected; and (3) negotiate with the Soviet Union on strengthening existing agreements on chemical, biological, and toxin weapons.
United States · United States Congress · 3 August 1983
Authorizes the President to present, on behalf of the Congress, to Aminda Badeau Wilkins, the widow of Roy Wilkins, a gold medal in recognition of his contributions to the struggle for civil rights and equality for all Americans. Directs the Secretary of the Treasury (Secretary) to strike a gold medal. Authorizes appropriations. Directs the Secretary to strike up to 750,000 gold, silver, or bronze medals to commemorate the 1984 Lousiana World Exposition in New Orleans, Louisiana. Authorizes the Speaker of the House and the President pro tempore of the Senate to present, on behalf of Congress, bronze medals to those American personnel listed as missing or otherwise unaccounted for in Southeast Asia. Authorizes appropriations. Authorizes the President to present to Danny Thomas a gold medal in recognition of his humanitarian efforts and his outstanding work as an American. Authorizes appropriations. Authorizes the Secretary to coin for sale bronze duplicates of all the gold medals struck pursuant to this Act.
United States · United States Congress · 3 August 1983
Competitive Savings Incentive Act of 1983 - Amends the Federal Reserve Act to provide that reserves held by the following may be in the form of vault cash, or as deposits in an Earnings Participation Account at a Federal Reserve Bank which shall receive earnings to be paid each month at the rate earned on the securities portfolio of the Federal Reserve System during that month: (1) any bank, savings and loan association or mutual or stock savings bank against accounts authorized by the Garn-St Germain Depository Institutions Act of 1982 or transaction accounts authorized after December 1, 1982; or (2) any insured credit union against any comparable accounts. Requires the earnings on such portfolio to be passed through on a prorated basis to the depository institutions which maintain reserves.
United States · United States Congress · 3 August 1983
Designates March 23, 1984, as National Energy Education Day.
United States · United States Congress · 3 August 1983
Waives certain requirements of the Congressional Budget Act of 1974 with respect to the consideration of S. 1729 (medals).
United States · United States Congress · 2 August 1983
Food Stamp Reform Act of 1983 - Title I: Definitions - Amends the Food Stamp Act of 1977 to provide for charging households for allotments, except households containing an elderly or disabled member and households with less than a specified income. Provides for the deposit of such charges in a separate account maintained by the Treasury. Requires State agencies to institute procedures for the deduction of household allotment charges from payments a household receives under Aid to Families with Dependent Children (AFDC) of the Social Security Act and to have allotments distributed with such payments. Grants State agencies the option of determining whether or not individuals who live with others constitute a separate household. Removes provisions for adjusting the thrifty food plan and the excess shelter expense deduction after October 1, 1983. Title II: Eligible Households - Makes certain households ineligible for the food stamp program if such household's income exceeds a specified poverty line. (Currently such households cannot exceed the poverty line by more than 30 percent.) Includes nonrecurring lump-sum payments and energy assistance payments as household income. Decreases the monthly household income standard deduction from $85 to $60. Permits States to establish resource limitations comparable to eligibility determinations under the Social Security Act for the AFDC program and the supplemental security income program. Title III: Eligibility Disqualifications - Reduces from six to three years the maximum age of a dependent child which exempts an individual from work registration. Continues such exemption for any individual caring for a child between three and six where adequate child care is not available. Title IV: Issuance and Use of Coupons - Prohibits the issuance of cash change from purchases made with food stamp coupons. Requires coupon users to pay cash for amounts which exceed the value of the lowest coupon denomination. Title V: Value of Allotment - Eliminates the $10 minimum value of allotments. Title VI: Administration - Grants States the option of providing expedited service to certain families in immediate need of coupons. (Currently States are required to provide such service.) Requires the issuance of photographic identification cards to all household members to present to receive coupons (currently, such cards are required only in certain areas). Requires a household member to countersign coupons at the times of issuance and use. Authorizes the utilization of Internal Revenue Service information on the interest and dividend income of food stamp households. Amends the Internal Revenue Code to conform to this provision. Title VII: Collection and Disposition of Claims - Sets forth procedures for the collection of an overissuance of food stamp coupons through unemployment compensation benefits and through interception of Federal tax refunds. Title VIII: Administrative Cost-Sharing and Quality Controls - Revises State agency liability provisions to make such agencies liable for payment error rates above three percent. Title IX: Effective Date - Declares the amendments made by this Act effective on October 1, 1983, unless otherwise provided.
United States · United States Congress · 28 July 1983
Amends the National Trails System Act to require that the Pony Expresses Trail, extending from Saint Joseph, Missouri, through Nebraska, Wyoming, Utah, and Nevada to Sacremento, California, be studied and considered for designation as a national scenic trail.
United States · United States Congress · 26 July 1983
Honest Budgeting Act of 1983 - Amends the Federal Financing Bank Act of 1973 to require all transactions of the Federal Financing Bank to be reflected in the unified budget of the United States government. Treats amounts of loans guaranteed by a Federal agency and financed by the Bank as outlays of such agency. Treats amounts disbursed by the Bank for the purchase of loans guaranteed, loan assets sold, and debt obligations issued by a Federal agency as a means of financing that agency. Prohibits a Federal agency from issuing, selling, or guaranteeing any investment security obligations of a type formerly financed through the Bank unless such an obligation is offered for sale to the Bank.
United States · United States Congress · 26 July 1983
Depository Institution Equity Act of 1983 - Title I: Amendments to the Bank Holding Company Act - Amends the Bank Holding Company Act of 1956 to include within the definition of 'bank' any insured bank as defined in the Federal Deposit Insurance Act and any institution eligible to become so insured. Title II: Amendments to the Federal Deposit Insurance Act - Amends the Federal Deposit Insurance Act to apply to every nonmember insured bank the provisions of the Banking Act of 1933 relating to affiliations between member banks and organizations engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debentures, notes or other securities. Provides that a nonmember insured bank which prior to enactment of this Act was affiliated with such an organization is not prohibited from continuing such affiliation for no more than two years. Excludes dealers in securities from serving as officers, directors, or employees of State nonmember banks. Title III: Amendments to the National Housing Act - Amends the National Housing Act to prohibit a savings and loan holding company, or any subsidiary which is not an insured institution, from commencing or continuing any business activity other than those specified for multiple savings and loan holding companies and their subsidiaries. Permits a company existing as a savings and loan holding company on the date of enactment of this Act whose activities become subject to such restrictions to continue such activities for not more than five years after such enactment. Applies to every insured institution the provisions of the Banking Act of 1933 relating to affiliations between banks that are members of the Federal Reserve System and organizations engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debentures, notes, or other securities. Permits an insured institution which prior to the date of enactment of this Act was affiliated with such an organization to continue that affiliation for no more than two years. Excludes dealers in securities from serving as officers, directors, or employees of insured institutions. Applies the civil and criminal provisions of the Banking Act of 1933 relating to dealers in securities engaging in banking business to insure institutions' activities and uninsured institutions' activities in the same manner and to the same extent as if the institutions were banks that engaged in the business of receiving deposits. Title IV: Effective Date - Makes this Act effective upon enactment.
United States · United States Congress · 25 July 1983
Expresses the sense of the Senate that travel by Senators to the Soviet Union serves the interests of the United States and that such travel is encouraged.
United States · United States Congress · 20 July 1983
Expresses the sense of the Senate that the President should: (1) proclaim his intention to establish a Productivity and Quality Award to be made to businesses, workers, other individuals, and public sector organizations that make major contributions toward sustained improvement in productivity and quality performance; and (2) establish a President's interagency Productivity and Quality Award Committee to recommend criteria for such awards and to design certificates and medals of commendation for presentation to award recipients.
United States · United States Congress · 18 July 1983
Amends the Mineral Lands Leasing Act of 1920 to: (1) repeal provisions prohibiting the issuance of a coal lease when the leaseholder has not produced coal from the lease deposits in commercial quantities for ten years; (2) eliminate the requirement that a logical mining unit be contiguous; and (3) eliminate the time requirement with respect to the provision which directs a lessee to submit an operation and reclamation plan to the Secretary of the Interior prior to taking any action on a leasehold which might cause a significant disturbance of the environment.
United States · United States Congress · 13 July 1983
Arizona Strip Wilderness Act of 1983 - Designates the following lands as components of the National Wilderness Preservation System: (1) the Cottonwood Point Wilderness in the Arizona Strip District of the Bureau of Land Management in Arizona; (2) the Grand Wash Cliffs Wilderness in the Arizona Strip District; (3) the Kanab Creek Wilderness in the Kaibab National Forest and in the Arizona Strip District; (4) the Mt. Logan Wilderness in the Arizona Strip District; (5) the Mt. Trumbull Wilderness in the Arizona Strip District; (6) the Paiute Wilderness in the Arizona Strip District; (7) the Paria Canyon-Vermilion Cliffs Wilderness in the Arizona Strip District and in the Cedar City District in Utah; (8) the Saddle Mountain Wilderness in the Kaibab National Forest; and (9) the Beaver Dam Mountains Wilderness in the Arizona Strip District and in the Cedar City District. Releases from management as wilderness areas those lands in the Arizona Strip District of the Bureau of Land Management in Arizona and those portions of the Starvation Point Wilderness Study Area and of the Paria Canyon Instant Study Area plus contiguous units in the Cedar City District of the Bureau of Land Management in Utah which are not designated as wilderness by this Act. Releases lands in the Kaibab National Forest which have been reviewed in the RARE II (second roadless area review and evaluation) program from further review by the Department of Agriculture and from management as wilderness areas pending the revision of initial national forest management plans.
United States · United States Congress · 12 July 1983
Financial Institutions Deregulation Act - Amends the Banking Act of 1933 to allow a member bank to be affiliated with a depository institution securities affiliate. Permits an officer, director, or employee of a member bank to serve at the same time as an officer, director or employee of its depository institution securities affiliate or affiliates. Amends the Securities Act of 1933 to exempt from the registration requirements of such Act the issuance of a company's shares in connection with a reorganization. Amends the Securities Exchange Act to make the Securities and Exchange Commission the appropriate regulatory agency to enforce a bank securities affiliate's compliance with regulations concerning transactions in municipal securities. Amends the Bank Holding Company Act of 1956 to include depository institution securities affiliates within the definition of "bank" for the purposes of such Act. Defines "depository institution securities affiliate" to mean any corporation that: (1) is engaged in the United States in one or more of the activities authorized under such Act; and (2) is a broker or dealer within the meaning of the Securities Exchange Act of 1934 or an investment advisory within the meaning of the Investment Advisers Act of 1940. Revises the process for the formation of a bank holding company. Permits bank holding companies after notice and subject to approval by the Federal Reserve Board to engage in: (1) activities that the Board has determined to be closely related to banking or managing or controlling banks or to be of a financial nature; (2) insurance underwriting or brokerage; or (3) real estate investment, development or brokerage. Sets forth the criteria to be considered by the Board in connection with such notice. Permits a bank holding company, subject to prior notice and certain requirements and conditions, to acquire shares in any company that engages only in the activities authorized for a depository institution securities affiliate under this Act. Prohibits any bank holding company that establishes or acquires a securities affiliate or engages in securities affiliates activities, from permitting any of the depository banks it controls to engage, directly or through a subsidiary, in specified securities activity one year after the securities affiliate starts business. Permits a depository institution securities affiliate to conduct any securities or securities-related activity that a national banking association is not prohibited from conducting. Permits a depository institution securities affiliate to: (1) deal in and underwrite all State and municipal general obligations and revenue bonds (including, under certain conditions, industrial development bonds); (2) organize, sponsor, operate, and control an investment company; (3) render investment advice; or (4) underwrite, distribute, and sell securities of any investment company. Permits a bank holding company to acquire shares of a company engaged in any activities in which a multiple savings and loan holding company was authorized to engage in on July 1, 1983. Limits Federal Reserve Board authority to: (1) require nonbanking subsidiaries of a bank holding company to submit reports regarding compliance with the provisions of the Bank Holding Company Act; and (2) conduct examinations of such subsidiaries. Amends the Federal Reserve Act to allow a member bank and its subsidiaries to engage in a covered transaction or a financial assistance transaction with an affiliate only on substantially the same terms prevailing for comparable transactions with other nonaffiliated companies. Prohibits a member bank and its affiliates from publishing any advertisement suggesting that the member bank is responsible for its affiliates' obligations. Prohibits a member bank and its affiliates from purchasing as fiduciary any securities or other assets from an affiliate unless lawfully authorized by the instrument creating the fiduciary relationship, by court or by local law. Prohibits a member bank and its subsidiaries except in certain circumstances from purchasing or otherwise acquiring, during the existence of any underwriting or selling syndicate, any obligation a principal underwriter of which is one of its affiliates or subsidiaries. Amends the Investment Company Act of 1940 to permit an investment company affiliated with a depository institution securities affiliate, but only with prior approval of the Securities and Exchange Commission, to: (1) place or maintain its securities or similar investments in the custody of a bank affiliated with such depository institution securities affiliate; (2) designate any such bank as trustee or custodian; or (3) deposit designated proceeds with any such bank. Amends the Bank Holding Company Act Amendments of 1970 to permit a trade association to commence, on behalf of an association member, any private right of action for injunctive relief against threatened loss or damage as a result of a violation of the prohibitions against tying arrangements. Amends the Savings and Loan Holding Company Amendments of 1967 to subject all unitary savings and loan holding companies to the same restrictions on their activities as multiple savings and loan holding companies. Declares that such restrictions shall not apply to any company that acquires an insured institution between July 1, 1983, and the effective date of this Act. Sets forth activities to which such restrictions do not apply. Authorizes savings and loan holding companies to acquire banks insured by the Federal Savings and Loan Insurance Corporation. Sets forth limitations to which any such acquisition is subject. Exempts from prohibitions against interaffiliate transactions the transactions of any subsidiary insured institution of a savings and loan holding company with an affiliate engaged in permitted business activities. Exempts from prior approval requirements the formation of a savings and loan holding company involving a reorganization of interest from individual ownership to holding company form. Declares that no State shall prohibit the affiliation of an association with a company engaged solely in one or more of the activities authorized for savings and loan holding companies under this Act. Amends the Home Owners' Loan Act of 1933 to authorize savings and loan institutions to invest in depository institution service corporations in accordance with the requirements, conditions, and limitations set forth by this Act. Permits a trade association to commence any action for injunctive relief against threatened loss or damage resulting from a violation of such Acts prohibitions against tying arrangements. Amends the Bank Service Corporation Act to rename such Act the Depository Institution Service Corporation Act. Sets forth limitations on the amount a depository institution may invest in depository institution service corporations. Describes the depository institution service corporation activities permissible for depository institutions. Subjects a depository institution service corporation to examination and regulation by the appropriate Federal supervisory agency of its principal investor to the same extent as its principal investor. Provides grandfather rights to service corporation investors and for service corporation activities where an investment was made and the activities were commenced prior to July 1, 1983. Authorizes any association, which is organized and continues to operate in the mutual form, to invest in the capital stock obligations, or other securities of any corporation (a mutual thrift service corporation) organized under State laws if the entire capital stock of such corporation is available for purchase only by savings and loan associations having their home offices in such State.
United States · United States Congress · 12 July 1983
Amends the Internal Revenue Code to provide for a partial exclusion from gross income of interest and dividends, beginning in 1983. Limits the amount of such exclusion to 15 percent of the lesser of (1) $3,000 ($6,000 for joint returns) or (2) the excess of interest and dividend amounts received by a taxpayer during a taxable year over certain interest and penalty expenses.
United States · United States Congress · 28 June 1983
Amends the Truth in Lending Act and the Electronic Fund Transfer Act to expand fraudulent use of a credit card or debit instrument to include any transaction affecting interstate or foreign commerce by any person: (1) who knowingly furnishes, transfers, or obtains a credit card or debit instrument for use in connection with a scheme to defraud a consumer or any other person; or (2) who, with unlawful or fraudulent intent, furnishes, acquires, or uses any actual or fictitious credit card or debit instrument account numbers or identification or other access codes, whether alone or together with credit card or account holders, or other information pertaining to a credit card or debit instrument account in any form, and as they may be reflected or retained in any medium. Sets the penalty for a subsequent violation of either Act at a fine of up to $100,000 or imprisonment for up to 20 years, or both. Defines "debit instrument" to include an account number or other means of account access.
United States · United States Congress · 27 June 1983
Authorizes the Speaker of the House and the President pro tempore of the Senate jointly to present, on behalf of the Congress, a bronze medal to families of American personnel missing or otherwise unaccounted for in Southeast Asia. Authorizes appropriations.
United States · United States Congress · 23 June 1983
Prohibits any company that is engaged directly or indirectly in any activity not permitted for a bank holding company from acquiring control of any insured bank or of insured banks in more than one State without prior approval under the Bank Holding Company Act. Prohibits any company that is engaged directly or in any activity other than an activity permitted for a multiple savings and loan holding company from acquiring control of any insured institution except as provided in the National Housing Act. Prohibits any company that acquires control of an insured bank or institution on or after June 23, 1983, from retaining control of such bank or institution and engaging in non-bank holding activities on or after the effective date of this Act unless the acquisition conforms to certain provisions of the National Housing Act. Prohibits any company from retaining control of insured banks in more than one State that were acquired on or after June 23, 1983, unless such banks were acquired with prior approval under the Bank Holding Company Act. Prohibits any State-chartered depository institution from commencing any non-banking activity not previously and lawfully engaged in by that institution unless: (1) such activity was explicitly authorized for that type of institution by State statute or regulation before January 1, 1983; (2) such activity is permitted under the Bank Holding Company Act for a bank holding company; or (3) such activity is explicitly authorized by a State statute and is performed exclusively in such State for customers present in it. Requires any State-chartered depository institution that commenced, on or after June 23, 1983, any activity that would have been prohibited by this Act if commenced after enactment of this Act to immediately terminate such activity. Repeals the provisions of this Act on December 31, 1983.
United States · United States Congress · 23 June 1983
Authorizes the President to present on behalf of Congress a gold medal to Danny Thomas in recognition of his humanitarian efforts and outstanding work as an American. Directs the Secretary of the Treasury to strike a gold medal with suitable emblems, devices, and inscriptions to be determined by said Secretary. Provides, effective October 1, 1983, funds not to exceed $22,000 to carry out the purposes of the Act. Provides that the Secretary may cause bronze duplicates of the medal to be coined and sold under regulations prescribed by the Secretary at a price sufficient to cover the costs of producing the gold medal. Directs that the appropriation used to carry out the provisions of the Act shall be reimbursed out of the proceeds from such coin sales. Provides that the medals are to be national medals.
United States · United States Congress · 16 June 1983
Designates the week of December 11-17, 1983, as National Drunk and Drugged Driving Awareness Week.
United States · United States Congress · 14 June 1983
Designates the Federal Building in Lafayette, Indiana, as the Charles A. Halleck Federal Building.
United States · United States Congress · 26 May 1983
Energy Security Tax Incentives Act of 1983 - Amends the Internal Revenue Code to extend for seven years from 1985 to 1992 the availability of the investment tax credit for affirmative commitments made for solar, wind, geothermal, and biomass energy property. Requires that such affirmative commitments must be made by specified dates. Extends for two years from 1990 to 1992 the availability of the investment tax credit for affirmative commitments for synthetic fuel energy property. Extends for five years from 1982 to 1987 the date by which such affirmative commitments must be made. Includes tar sands equipment, shale oil equipment and synthetic fuel production equipment as energy property for purposes of the investment tax credit. Allows an investment tax credit for affirmative commitments made for chlor-alkali electrolytic cells.
United States · United States Congress · 25 May 1983
Authorizes appropriations for the improvement of the facilities of the Bureau of the Mint.
United States · United States Congress · 24 May 1983
Federal Election Campaign Act Amendments of 1983 - Amends the Federal Election Campaign Act of 1971 to include in the definition of "contribution" donations made to draft clearly identified individuals to become candidates for Federal office. Exempts from the definition of "contributions" any donations to political parties or committees designated to defray establishment, administration, or solicitation costs of the Committee. Requires that these donations be reported on a semiannual basis. Extends to the national committee of a political party certain exemptions that are given to State committees. Allows a political committee of a party to utilize the expedited procedure for advisory opinion requests during the 60-day period before an election. Requires the Commission to establish time limits for investigations. Revises the investigatory procedures of the Commission. Deletes the requirement that the Court of Appeals sit en banc when hearing cases involving the constitutionality of the Act. Increases the contribution limitations for certain offices. Permits political committees of political parties to engage in bona fide commercial transactions in order to defray establishment, administration, and solicitation costs. Amends the Internal Revenue Code to provide the opportunity for a presidential general election candidate to request a hearing before the Commission if a demand for repayment of funds is made available.
United States · United States Congress · 23 May 1983
Housing and Community Development Act of 1983 - Title I: Rental Rehabilitation - Amends the Housing and Community Development Act of 1974 to authorize the Secretary of Housing and Urban Development to: (1) make rental rehabilitation grants to State and local governments to support the moderate rehabilitation of private property for residential purposes; (2) make available contract authority for housing payment assistance to minimize the displacement of very low-income tenants and other lower income tenants from structures undergoing rehabilitation, to assist such tenants, and to assist other very low-income tenants in obtaining decent housing; and (3) make rental development grants to State and local governments to support the substantial rehabilitation or new construction of private property for residential purposes. Authorizes appropriations. Directs the Secretary to allocate such grant amounts to cities with populations of 50,000 or more, urban counties, and States on the basis of a formula accounting for such factors as low-income renter population, rental housing market conditions, the condition of rental housing stock, and overcrowding of rental housing in each area. Authorizes the Secretary to establish minimum allocation amounts required for direct allocations to cities or urban counties and to adjust an area's allocation on the basis of the area's performance in carrying out its program in a timely manner and achieving low rents in 80 percent of its rehabilitated units. Conditions the receipt of such grants on the submission by grantees of satisfactory information in rental rehabilitation or development program descriptions. Requires that such a description describe the proposed program and activities to be assisted, certify that the grantee consulted with the public, show evidence of the grantee's capacity to undertake the project, show the financial feasibility of the program, indicate the criteria to be used in selecting projects and the effect of the program on neighborhood preservation, and certify compliance with civil rights laws. Prohibits the provision of grants for substantial rehabilitation or new construction unless the Secretary finds that: (1) the area is experiencing a severe shortage of rental housing and has extremely low vacancy rates; and (2) a program of other than moderate rehabilitation is necessary to improve rental opportunities or to advance a neighborhood preservation program. Limits the amount of a rental rehabilitation or development grant to 120 percent of the amount allocated by formula. Requires that at least 70 percent of grant amounts be used for the benefit of lower income families, but authorizes the Secretary to reduce such percentage requirement to 50 percent where the grantee cannot develop a program meeting such higher requirement. Allows the Secretary to limit allocation of housing payment assistance to the amount needed for the number of units to be rehabilitated. Requires such an assistance contract to: (1) permit a grantee to provide assistance for a unit for up to one year; and (2) assure the provision of assistance to all very low-income tenants of structures rehabilitated with assistance under this Act. Authorizes the Secretary to reallocate grants and housing payment assistance based on the Secretary's assessment of each grantee's performance. Allows each grantee to shift up to 20 percent of the funds allocated from grants to housing payment assistance or vice versa. Requires grantees to submit annual performance reports and the Secretary to undertake annual reviews and audits of grantee performance. Permits the Secretary to adjust, reduce, or withdraw grants or assistance based on his or her findings. Requires a rental rehabilitation and development program to provide that: (1) grants shall only be used to rehabilitate or develop real property to be used primarily for residential rental property in neighborhoods where the median income does not exceed 80 percent of the median area income; (2) rehabilitated units shall meet housing standards for housing assistance payments under the United States Housing Act of 1937; (3) grant assistance shall not exceed 50 percent of the total rehabilitation or development cost, or 50 percent of such cost plus refinancing and acquisition costs in special circumstances; (4) assisted structures shall be exempt from State or local rent controls; (5) owners of assisted structures shall not discriminate against families receiving housing assistance payments; and (6) financing for an assisted structure shall require the borrower to be personally liable for repayment. Limits the amount of a grant for new construction or substantial rehabilitation to the amount required to provide decent rental or cooperative housing of modest design which is affordable to lower income families without other housing alternatives. Requires a project owner to: (1) enter agreements to assure the project's financial feasibility; (2) agree that for ten years after 50 percent of the project units are available at least 20 percent shall be occupied by lower income persons; and (3) agree, for ten years after project units are available for occupancy, to pass on to tenants any reduction in costs resulting from the assistance provided, not to discriminate against families receiving housing assistance payments, and not to convert the units to condominiums or cooperative units unaffordable for lower income families. Requires an owner who violates any such agreement to repay the total amount of assistance provided plus interest. Requires that an assisted project contain five or more units to be used for primarily residential purposes. Declares that mortgages on such projects are eligible for insurance under the National Housing Act. Requires rents charged for project units to be approved by the Secretary. Limits maximum rents to not more than 30 percent of the income of a family whose income equals 50 percent of the median area income. Exempts such projects from State or local rent controls. Directs a State to administer grants for cities with populations of less than 50,000 and for areas that do not qualify for direct grants and that are not eligible for rural housing assistance under the Housing Act of 1949. Permits a State to use such grant amounts to administer its own rental rehabilitation or development program, or to distribute amounts to local governments. Allows a city with a population exceeding 50,000 to elect to have a State administer its grant program and permits a State to elect to have the Secretary administer its grant program. Requires the Secretary to establish regulations governing relocation payments. Prohibits a State or local government from using grant funds for administrative expenses. Directs the Secretary to establish procedures that support national historical preservation objectives and that prohibit rehabilitation activities on historical structures unless certain standards are met or the Advisory Council on Historic Preservation is offered an opportunity to comment on such activities. Permits consortia of geographically proximate local governments to apply for grants. Establishes grant eligibility for such consortia with populations exceeding 50,000. Amends the National Housing Act to set forth coinsurance provisions for federally insured rental rehabilitation or development projects. Authorizes the Secretary, for purposes of insuring mortgages executed in connection with any purchase or refinancing of rental rehabilitation or development property, to: (1) include a specified amount of rehabilitation or development costs; (2) permit subordinated liens securing up to the full amount of mortgage financing provided by State or local governments; and (3) pay benefits in cash unless a mortgagee submits a written request for debenture payment. Title II: Community and Neighborhood Development - Amends the Housing and Community Development Act of 1974 to authorize appropriations for FY 1984 through 1986 for the community development block grant (CDBG) program, the urban development action grant (UDAG) program, and the special discretionary fund of the Secretary of Housing and Urban Development. Earmarks a specified amount of the appropriations set aside for the discretionary fund for grants to Indian tribes. Requires the primary objective of the program of each CDBG recipient to be to benefit principally persons of low and moderate income. Conditions an entity's eligibility for a CDBG on the requirement for the use of funds taken as a whole, over a period not exceeding three years, to benefit principally such persons. Repeals the requirement that a State match ten percent of the CDBG funds provided to the State for nonentitlement areas (areas other than metropolitan areas and urban counties). Requires any State that elects after FY 1984 to administer such a small cities grant program to administer such program permanently. Requires the Secretary to administer the small cities grant program in any State that elects not to administer such program. Permits any State administering such a program to deduct from grant funds the first $100,000 of its expenses and 50 percent of its expenses exceeding $100,000, not to exceed two percent of the total grant amount. Requires grant amounts not received by a State because of its failure to comply with performance report or community development requirements to be added to amounts allocated to all States rather than the same State for the succeeding fiscal year. Allows a unit of local government that uses more than ten percent of its CDBG funds for public service expenditures in FY 1983 to allocate the greater of the same percentage or dollar amount of its CDBG funds for such expenditures in succeeding years. Requires any local government that receives a lump-sum drawdown of its CDBG to establish a revolving loan fund to make substantial expenditures from such fund within a specified period. Sets forth conditions under which a grantee may receive a lump sum advance of CDBG funds for a specific project. Requires a grant recipient to submit an annual performance and evaluation report on its activities to the Secretary and to make such report available to citizens in its jurisdiction. Directs the Secretary to: (1) encourage national associations of eligible grantees or States to recommend uniform recordkeeping and performance and evaluation reporting requirements for entitlement grantees and States; and (2) establish requirements based on approved recommendations. Allows the Secretary to guarantee loans to grantees only when such grantees cannot otherwise receive the financing needed for timely execution of their community development programs. Earmarks a specified amount of UDAG appropriations for technical assistance grants to States, municipal technical advisory services, and State associations of municipalities to assist cities with populations of less than 50,000 in developing and implementing programs eligible for UDAGs and in applying for such grants. Authorizes consortia of such cities to apply. Directs the Secretary to select criteria for a national competition for UDAGs. Authorizes UDAG eligibility for certain unincorporated portions of urban counties that are approved by the Secretary as identifiable communities. Revises activities eligible for CDBG funding to include the acquisition, construction, reconstruction, or installation of all public facilities, except buildings for the general conduct of government. Authorizes the Secretary to issue an advisory opinion that a proposed innovative or prototypical activity is an eligible activity. Declares that such eligibility shall not be challenged unless the activity is conducted in a different manner than that proposed by the Secretary. Amends the Housing Act of 1964 to repeal provisions authorizing the Secretary to make rehabilitation loans directly to property owners and tenants. Amends the Housing and Urban Development Act of 1969 to repeal provisions authorizing the General Services Administration to transfer Federal surplus real property to the Secretary or the Secretary of Agriculture for sale or lease at fair value for use for low and moderate-income housing. Permits the transfer of property requested before enactment of this Act. Amends the Housing Act of 1949 to repeal provisions that prohibit an urban renewal plan from providing for the construction of transient housing unless the community involved has obtained a transient housing study indicating a need for such housing. Amends the Housing and Urban Development Act of 1965 and the Housing Act of 1961 to repeal provisions requiring the Secretary's approval of the conversion of neighborhood facilities or open space land to uses not originally approved by the Secretary when awarding a grant for acquisition of such facilities or land. Amends the Housing and Community Development Act of 1974 to provide that, for purposes of CDBG eligibility, entities classified as metropolitan cities until the decennial census of 1980 indicated that their populations dropped below 50,000 shall continue to be classified as metropolitan cities until September 30, 1984. Declares that the entitlement status of an entity designated as a metropolitan area or central city of such area shall not be affected by a withdrawal of such designation without one year's prior notice of such withdrawal. Permits the population of a central city that falls below 50,000 during the funding period of an urban county to be included in such county before the expiration of such period. Requires CDBG recipients to include in proposed and final statements on community development objectives and the projected use of funds a description of the use of funds received in specified past periods and an assessment of the relationship of such use to the objectives proposed for such funds. Provides that, under certain conditions, the CDBG amount for a government formed by the consolidation of metropolitan cities and urban counties shall be equal to the sum of amounts such cities and counties would have received if they had not consolidated. Requires the Secretary to distribute any excess metropolitan city and urban county grant amounts in a fiscal year on a pro rata basis. Authorizes the Secretary to make grants to qualified groups and groups designated by governmental units to assist such units in carrying out the CDBG and UDAG programs. Permits a local government to retain program income realized from CDBG funds if: (1) such income was realized after the initial disbursement of such funds; and (2) such government agrees to use such income for eligible community development activities. Provides that after September 1, 1983, UDAG funds set aside for small cities that remain unobligated for two years may be made available for grants to metropolitan cities and urban counties. Authorizes appropriations for the urban homesteading program for FY 1984 and 1985. Provides for the payment of consideration by a State or local government to the Secretary and by an individual or family to such government for real property transferred under an urban homesteading program. Requires such a government to remit to the Secretary 50 percent of any amount by which the consideration it receives for such property exceeds the consideration it paid for such property. Authorizes the Secretary to undertake a program to demonstrate the feasibility of using homesteading techniques to facilitate the reuse of multifamily properties owned by the Secretary for home ownership purposes. Directs the Secretary to convey suitable properties to State and local governments for subsequent transfer to individuals under a cooperative or condominium form of ownership. Requires the Secretary to undertake a program to demonstrate the feasibility of providing assistance to lower income families for the rehabilitation of conveyed property. Establishes the amount of such assistance on the basis of the payment standard for rental assistance payments under the United States Housing Act of 1937. Directs the Secretary to conduct a program to demonstrate the feasibility of providing assistance to State and local governments for the purchase of unoccupied real property that is improved by a one- to four-family dwelling and designated for use in a single-family homestead program. Requires the property to be conveyed under such program to a low- or moderate-income family or individual who agrees to: (1) repair all dangerous defects within one year; (2) make repairs or improvements necessary to meet applicable local buildings standards; and (3) occupy such property as a principal residence for at least five years. Directs the Secretary to evaluate the success of the demonstration as a method of increasing the stock of housing available for the homesteading program and to submit a report to Congress by March 1, 1985. Directs the Secretary to conduct a three-year demonstration program to determine the feasibility of supporting neighborhood development activities by providing Federal matching funds to certain nonprofit neighborhood development organizations on the basis of monetary support from the private sector. Limits the amount of grants that may be multiyear awards. Directs the Secretary to use a competitive process in selecting program participants. Requires that a selected participant: (1) demonstrate measurable achievements in certain neighborhood development activities; (2) specify a plan for accomplishing one or more of such activities; and (3) specify a strategy for achieving long term private sector support. Directs the Secretary to establish a Neighborhood Development Advisory Council to evaluate the applicants and recommend selections. Requires the Secretary to: (1) assign each participating organization a program year during which time voluntary private contributions shall be eligible for matching funds; and (2) establish a ratio of between one and ten Federal dollars matched for each dollar privately contributed, which the Secretary shall pay to each organization at the end of each three-month period of the organization's program year. Limits the maximum amount the Secretary may pay to any organization for a year to $50,000. Requires the Secretary to insure that: (1) assistance may be provided only if the local government of the neighborhood to be assisted certifies that such assistance is consistent with such government's objectives; and (2) eligible neighborhood development activities comply with the Civil Rights Act of 1964. Directs the Secretary to report to Congress on the activities carried out under the demonstration program, an evaluation of the program, and any findings or recommendations concerning the program. Authorizes appropriations. Title III: Housing Assistance Programs - Amends the Housing and Community Development Act of 1974 to require the Secretary to allocate certain Federal housing assistance on the basis of a formula accounting for the relative needs of different States, areas, and communities. Repeals the requirement that between 20 and 25 percent of such assistance be allocated to metropolitan areas. Requires the Secretary to allocate authority for assistance under the housing assistance payment program of the United States Housing Act of 1937 for the rural housing preservation grant program. Directs the Secretary to accommodate the desires of State and local governments regarding the types of assistance to be provided within the limits of each area's allocation. Authorizes the Secretary to approve the use of such assistance for existing public housing projects. Authorizes the appropriation of funds from the Secretary's discretionary housing fund for emergency shelter assistance grants to local governments, Indian tribes, and nonprofit organizations. Amends the United States Housing Act of 1937 to establish FY 1984 limitations on reservations of authority for assistance to public housing agencies for annual contribution contracts for specified lower income housing assistance programs. Permits public housing agency annual contribution contracts using a payment standard for family-selected existing housing. Establishes such payment standard as the maximum monthly rent that an owner of an existing dwelling may receive for a unit assisted under such a contract. Revises procedures for selecting tenants for such units to establish a preference for families that pay more than 50 percent of their incomes as rent. Allows a public housing agency to adjust assistance payments to such an owner by up to 20 percent of the maximum monthly rent or payment standard for categories of families or for an individual family, provided such agency certifies to the Secretary that it has consulted the local government and public and determined that such adjustment is required. Requires the Secretary to establish and publish payment standards for various sizes and types of dwelling units in each market area and to use such standards to determine monthly assistance amounts under annual contribution contracts. Requires such standards to: (1) be established at the forty-fifth percentile of rents for recently rented units (excluding public housing units and units not meeting quality standards) unless such rents are found to be excessive; (2) be adjusted if the appropriate public housing agency provides information indicating that an excessive time is required for assisted families to rent standard quality units; and (3) include an amount for utilities. Sets the monthly assistance payment for an eligible family at the lowest of: (1) the amount by which the applicable payment standard exceeds 30 percent of the family's monthly adjusted income; (2) the amount by which the unit rent exceeds ten percent of the family's monthly income; or (3) the amount by which the lower of the rent or the payment standard exceeds a portion of the family's welfare assistance payment as designated by the Secretary. Requires a family to be a very low-income family or a family previously assisted in order to receive such assistance. Establishes preferences for families which occupy substandard housing, are involuntarily displaced, or are paying more than 50 percent of their incomes for rent. Authorizes the Secretary to override such preferences and use authority provided for such assistance for families: (1) previously assisted through annual contribution contracts; (2) occupying units in formerly assisted projects acquired by the Secretary; or (3) occupying dwellings to be rehabilitated under the rental rehabilitation and development program set forth in title I of this Act. Limits the duration of the initial term of a contract for annual contributions for such assistance payments to 60 months. Requires the public housing agency to inspect each unit before any payment is made and at least annually during the contract term to assure compliance with housing quality standards. Authorizes an agency to increase the assistance payments annually to assure continued affordability. Requires contracts for such assistance to provide ten percent more annual contributions than the estimated assistance required during the first year. Authorizes the use of amounts not needed for increases to provide assistance for other families. Permits a public housing agency to commit up to five percent of the payment standard assistance authority for assistance to low-income mutual or cooperative housing if such commitment will assist in maintaining the affordability of such housing for low-income families. Sets forth provisions governing payment standard assistance for families renting manufactured homes, spaces, or both. Amends the Department of Housing and Urban Development Act to exempt the establishment of the specific amounts for fair market rents or payment standards from congressional review procedures. Amends the United States Housing Act of 1937 to allow the Secretary to establish an income ceiling higher or lower than 50 percent of the area median income when defining "very low-income families" for purposes of the housing assistance programs if such a variation is necessary because of unusually high or low family incomes. Excludes the value of food stamps from a family's income for purposes of such programs. Requires the adjusted income of an elderly family to exclude medical expenses exceeding three percent of the family's income. Requires the Secretary to identify the portion (not to exceed 30 percent) of a family's welfare payment that a family shall pay as a minimum rent under such programs. Authorizes the Secretary to provide for delayed application or staged implementation of procedures for determining rents or tenant contributions under housing assistance programs as required by specified provisions of this Act or the Housing and Community Development Amendments of 1981 with respect to all tenants occupying assisted housing units on or before the effective date of regulations implementing the payment standard assistance program under this Act. Prohibits any annual rent or contribution increase exceeding ten percent for such tenants as a result of such provisions or any other change in Federal law. Subjects tenants who were not occupying assisted housing on such effective date to immediate rent payment or contribution determinations in accordance with such provisions, but limits any annual increase in their rent on contribution resulting from any future change in future law to ten percent. Excludes housing assistance from treatment as income in other Federal programs. Establishes within the Department of Housing and Urban Development (HUD) a Public Housing Accreditation Commission to: (1) establish accreditation standards for the management of public housing agencies in the operation of lower income housing projects and the administration of Federal assistance; (2) establish evaluation procedures; (3) establish sanctions and remedies for agencies that fail to become accredited or that lose accreditation; and (4) make recommendations to the Secretary on the training of agency officials on distinguishing between preventive maintenance funding (funded as part of operating subsidies) and major systems replacement funding (eligible for HUD discretionary grants). Directs the Commission to: (1) determine the period of accreditation; (2) establish a mechanism for terminating an agency's accreditation and a procedure for appealing adverse determinations by the Commission; and (3) establish a system of evaluation by public housing agency officials. Requires the Commission to publish its proposed standards and procedures in the Federal Register for public comment. Directs the Secretary to accept or reject each proposal. Requires the Commission to publish final standards and procedures by October 1, 1984, and to begin evaluating public housing agencies by January 1, 1985. Permits the Commission to charge fees for the evaluation of public housing agencies. Authorizes appropriations for FY 1984 for assistance to public housing agencies for the operation of lower income housing projects. Sets forth requirements for the performance funding system used to determine assistance amounts, including requirements that: (1) expense levels be adjusted annually for inflation; (2) agencies share savings in energy costs with the Secretary; (3) funds received by an agency from sources other than rents be excluded from income in determining allowable subsidies; (4) no assistance be provided for vacant or deprogrammed units; and (5) accredited agencies receive payments for a repair and maintenance fund. Authorizes an accredited public housing agency to receive a contract providing for operating assistance and replacement allowances for the term of accreditation, not to exceed three years. Declares that such a contract shall: (1) require the agency to submit data annually to enable the Secretary and the Commission to determine such agency's compliance with applicable requirements; (2) grant the agency maximum flexibility to establish and implement financial, management, and operating procedures; and (3) not be affected by the receipt of additional assistance by such agency. Limits to one year, with a one-year authorized extension, the length of a contract for operating assistance for an agency that fails to earn or loses its accreditation. Prohibits such an agency from receiving any other Federal assistance without the Secretary's approval. Permits the Secretary to waive limitations on the operation of the major system replacement fund in order to correct physical problems. Requires the imposition of Commission sanctions or remedies. Directs the Secretary to establish a major systems fund for the purpose of making grants to public housing agencies for the costs of replacing or repairing building systems or improving management systems that are not covered by annual contribution contracts for operating assistance. Directs the Secretary to provide the maximum amount of comprehensive improvement assistance available to public housing agencies before their first accreditation evaluations to assure that housing units meet habitability standards and that the maximum number of agencies receive accreditation. Repeals the comprehensive improvement assistance program on October 1, 1985, except for those agencies that have never become accredited due to failure to meet physical quality standards for housing units. Permits the Secretary to approve the demolition of a public housing project or a portion thereof if the project is unusable and cannot be restored feasibly. Allows the Secretary to approve the disposition of such a project or portion if: (1) the property's retention is not in the best interest of the tenants or the public housing agency due to health and safety factors or because disposition allows the acquisition, development, or rehabilitation of more effective or efficient lower income housing projects; or (2) the portion involved is nonresidential property the disposition of which will not interfere with continued operation of the project; and (3) the proceeds will be used to pay off development and modernization costs of the project and to provide other types of lower income housing assistance. Conditions the approval of such demolition or disposition on requirements that: (1) affected tenants be consulted; (2) displaced tenants be provided assistance by the agency to relocate to other decent, safe, sanitary, and affordable housing of their choice to the maximum extent practicable. Prohibits the Secretary from entering into contracts for: (1) annual contributions regarding obligations financing public housing projects, unless such obligations are exempt from taxation; or (2) periodic payments to the Federal Financing Bank to offset its costs in purchasing obligations issued by public housing agencies to finance housing projects. Amends the Housing and Community Development Amendments of 1978 to require that a rental or cooperative housing project be covered by a federally insured mortgage to be eligible for operating assistance for troubled multifamily projects. Amends the National Housing Act to extend through September 30, 1985, the period during which amounts in the rental housing assistance fund may be approved for such operating assistance. Amends the Housing Act of 1959 to direct the Secretary: (1) when selecting projects for elderly and handicapped housing loans, to assure the inclusion of special design features and congregate space necessary for elderly and handicapped residents; and (2) to encourage the provision of small and scattered group homes and independent living centers for nonelderly handicapped persons. Allows any project sponsor to voluntarily provide funds from other sources for appropriate amenities if they are not financed or subsidized with Federal money. Increases the Treasury borrowing authority and authorizes direct loan authority for a specified number of units under such program for FY 1984. Amends the Congregate Housing Services Act of 1978 to authorize appropriations for the congregate housing services program for FY 1984 through 1986. Amends the United States Housing Act of 1937 to repeal provisions concerning assistance payments to owners for the construction or substantial rehabilitation of lower income housing projects, except with respect to projects for the elderly and handicapped. Older Americans' Housing Demonstration Act of 1983 - Directs the Secretary to carry out during FY 1984 a program for the development, demonstration, and evaluation of improved methods of assisting older homeowners who wish to: (1) sell their homes but are unable to purchase or rent a smaller unit; or (2) stay in their homes but are unable to pay utility, tax, repair, and maintenance costs. Directs the Secretary to assure that a broad spectrum of senior citizens, localities, and project types is represented by the groups selected to receive assistance. Sets forth the required scope of such demonstration projects. Directs the Secretary to coordinate and jointly target resources with other appropriate agencies (such as the Administration on Aging of the Department of Health and Human Services). Directs the Secretary to submit a report to Congress by December 31, 1984, on the activities conducted under such program. Earmarks a specified amount of the authority available for the Secretary's discretionary fund for such program during FY 1984. Amends the National Housing Act and the Housing and Urban Development Act of 1965 to direct the Secretary to offer to amend contracts entered into with owners of rental housing projects assisted but not insured under such Acts to provide sufficient payments to cover rent increases and changes in the incomes of tenants occupying such projects before enactment of this Act. Amends the Housing and Community Development Act of 1980 to revise provisions limiting housing assistance to certain aliens to: (1) prohibit the provision of such assistance to any family unless the head of the family and the majority of its members are citizens or resident aliens of the United States who meet prescribed requirements; and (2) authorize assistance to be continued for up to six months for a family found to be ineligible in order to permit such family to adjust its eligibility status or to obtain alternative housing. Prohibits federally assisted rental housing projects for the elderly or handicapped from forbidding tenants to have pets or discriminating against persons having pets. Permits a project authority to require the removal of a pet that constitutes a threat to the health or safety of project occupants or other persons in the community. Amends the Housing Act of 1950 to require the rate of interest charged on Federal loans made to educational institutions for the construction or purchase of student housing facilities to be the higher (currently, lower) of: (1) three percent annually; or (2) the Treasury borrowing rate plus one quarter of one percent. Title IV: Insurance Programs - Amends the National Housing Act to extend the authority for the Federal crime and riot insurance programs. Requires the Federal Insurance Administrator to notify participating insurers of the termination of such authority as of September 30, 1983. Transfers specified functions of the Secretary concerning such programs and the Federal flood insurance program to the Director of the Federal Emergency Management Agency (FEMA). Amends the National Flood Insurance Act of 1968 to extend the authority for the national flood insurance program. Declares that the expiration of such authority shall not affect the continued availability of insurance to communities participating in the program or to property owners who had a flood insurance contract in effect immediately prior to such expiration. Directs the Secretary to estimate the risk premium rate for an area on the basis of flood-risk zones established by the appropriate flood hazard boundary map. Requires the Secretary to conduct studies and establish by August 1, 1983, risk premium rates for types and classes of properties insured under emergency implementation of the program. Confers original exclusive jurisdiction on the appropriate U.S. district court for actions disputing claims against insurers under such program. Authorizes FEMA to make a grant to a nonprofit agency, educational institution, or State or local agency to finance a study of the feasibility of expanding the national flood insurance program to cover damage or loss arising from sinkholes. Authorizes appropriations. Title V: Rural Housing - Rural Housing Amendments of 1983 - Amends the Housing Act of 1949 to revise the definitions of "low-income families and persons" and "very low-income families and persons" to correspond with such definitions under the United States Housing Act of 1937. Requires that at least 40 percent of all dwelling units financed by a rural housing loan through the Farmers Home Administration (FmHA) and at least 30 percent of such units in each State be available only for very low-income persons and families. Authorizes such loans for manufactured homes and lots meeting specified safety standards and installation, structural, and site requirements, whether such homes and lots are real property, personal property, or both. Deletes provisions: (1) limiting the interest rate charged on such loans; (2) requiring loans to be conditioned on the borrower paying any fees and charges specified by the Secretary of Agriculture (hereinafter in the title referred to as the Secretary) and prepaying any taxes and insurance to the Secretary as an escrow agent; and (3) authorizing the Secretary to guarantee rural housing loans made by private lenders. Authorizes the Secretary to make a loan, grant, or combined loan and grant to an eligible very low-income applicant to improve or modernize a rural dwelling, to make the dwelling safer or more sanitary, to remove hazards, regardless of whether such applicant is eligible for rural housing loans for adequate or potentially adequate farms. Sets maximum loan or grant amounts at limits determined by the Secretary. Authorizes the Secretary to permit demonstrations involving innovative housing units that do not meet published standards or regulations if the Secretary finds that the health and safety of the population of the area will not be adversely affected. Limits aggregate expenditures for such demonstrations in a fiscal year. Directs the Secretary to report to Congress annually on such demonstrations. Requires the Secretary to approve a residential building as meeting standards required for rural housing assistance if the building meets the minimum standards prescribed by the Secretary the minimum property standards required for Federal Housing Administration (FHA) mortgage insurance, the standards of any of the voluntary national model building codes, or the standards for manufactured housing prescribed under this Act. Permits the Secretary to refuse to finance a building that exceeds design or other limitations prescribed by the Secretary to avoid excessive costs. Authorizes the Secretary to transfer certain rural property purchased at foreclosure sales to nonprofit organizations or public bodies for use as rental or cooperative units for the elderly or handicapped or other low-income persons in rural areas. Provides for mortgages on such properties containing repayment terms of up to 50 years. Permits the transfer of such property at the lesser of the appraised value or the FmHA's investment if the transfer will provide housing for persons of very low-income. Sets forth limitations on, and authorizes appropriations for, specified rural housing programs for FY 1984. Extends until September 30, 1984, the authority of the Secretary to: (1) insure loans for rural housing for elderly or handicapped persons and other persons of low income; (2) make and insure loans for housing on adequate farms; and (3) make grants for programs and loans for property acquisition to assist needy low-income families in carrying out mutual or self-help housing efforts. Directs the Secretary to consider the value of a person's assets in determining the person's income for purposes of eligibility for occupying financed housing for elderly or handicapped families of low or moderate income and other families of low income in rural areas. Requires the Secretary to assure that such financed, newly constructed housing is modest in design and does not contain living space exceeding the space necessary for the expected number of occupants. Prohibits the Secretary from entering into a contract to finance such a newly contructed project if project units exceed size standards. Prescribes limitations on rent increases for assisted newly constructed or substantially rehabilitated housing. Permits the Secretary to approve increases in the costs of proposed projects only for unforeseen factors beyond the owner's control, design changes required by the Secretary or local government, or approved changes in financing. Directs the Secretary to give preference for assistance to projects to be located on suitable land provided by State or local governments if awarding such preference will be cost effective. Limits the percentage of financed project units that may be leased to individuals other than individuals of very low income. Prohibits the leasing of project units to persons other than low-income persons. Authorizes the Secretary to make loans to owners to convert single family residences to two or more rental units. Eliminates certain loan interest rate limitations. Authorizes the Secretary to insure loans for detached units for cooperative housing. Requires a borrower, in order to obtain a loan or loan insurance, to submit a market survey that indicates a need for very low- and low-income housing in the community. Includes as housing which qualifies for assistance any manufactured home park where the lots or lots and homes are available to eligible occupants. Limits the amount of a loan for housing on an adequate farm to the amount necessary to provide adequate housing that is of moderate size, design, and cost. Directs the Secretary: (1) to establish and maintain part of the Rural Housing Insurance Fund as a reserve against losses on insured loans; and (2) upon submission of the Federal budget, to transmit to Congress a report setting forth the amount proposed for such reserve and the estimated amount required to provide interest credits during the life of loans made and proposed to be made from the Fund. Provides for the accounting treatment of Certificates of Beneficial Ownership. Directs the Secretary to prescribe: (1) rules that encourage the rehabilitation or purchase of existing buildings to provide economical housing; and (2) criteria to assure that assistance is first provided to the persons with the greatest need residing in the most rural areas. Limits or increases to, generally, 30 percent of adjusted income the maximum rent contribution of tenants receiving rental assistance in certain rural housing projects. Prohibits any annual increase of over ten percent in a tenant's contribution unless the increase is attributable to an increase in the tenant's income. Lists priorities for the use of funds available for such rental assistance contracts. Repeals provisions that: (1) authorize the Secretary to provide housing for rural residents who are enrolled in training courses designed to improve their employment capability; (2) permit the Secretary to cancel repayment of part of a loan provided for the expenses of planning and obtaining financing for the rehabilitation or construction of housing under a rural housing program; and (3) provide for the continued availability of funds appropriated for such loans. Prohibits the Secretary from refusing to make or insure a loan to a low- or moderate-income family for the purchase of a condominimum unit in a rural area, or a blanket loan for a project of such units, unless: (1) the Secretary determines that the project or units are higher in cost on a per unit basis than single-family detached units in the same area; or (2) the project or units do not meet other prescribed requirements. Prohibits the Secretary from making such loans that would result in the displacement of low- or very low-income families, unless such families are provided relocation assistance. Authorizes the Secretary to: (1) act as an agent of the Secretary of Housing and Urban Development to recommend insurance of any mortgage meeting FHA mortgage insurance requirements; and (2) utilize funds available for rural housing rental assistance to assist mortgagors who are low-income persons in reducing their required downpayments or monthly payments on such mortgage loans by providing a lump-sum payment or credit at the time of purchase. Authorizes the Secretary to make grants for the rehabilitation of: (1) single-family housing in rural areas that is owned by low- and very low-income persons; and (2) multifamily rental properties serving low- and very low-income persons in rural areas. Authorizes the Secretary to provide rental assistance payments at the request of grantees to minimize the displacement of very low-income tenants of units to be rehabilitated. Authorizes appropriations. Directs the Secretary to allocate grant funds among States on the basis of the rural population and the extent of poverty and substandard housing in rural areas of each State relative to all States. Sets forth provisions governing the allocation of rental assistance payments, and procedures for the selection of grantees. Requires each grant applicant to submit a Statement of its activities containing a description of its proposed rehabilitation program. Includes among the criteria the Secretary shall use to evaluate the statements the extent to which each program would: (1) serve very low-income families while minimizing their displacement; and (2) alleviate overcrowding in rural residences inhabited by low- and very low-income families. Limits the amount of assistance provided for a structure under any program to not more than 50 percent of the total rehabilitation costs for that structure. Prohibits the owner of an assisted structure from refusing to rent a structure unit to a family solely because the family is receiving Federal rental assistance payments under the United States Housing Act of 1937. Directs the Secretary to review each grantee's performance at least annually and to adjust, reduce, or withdraw assistance provided as appropriate. Sets forth special requirements for proposed rehabilitation involving historic structures. Directs the Secretary to submit to Congress annual reports on the success and use of funds under such grant and assistance program. Prohibits FmHA rules from becoming effective unless they have been published for public comment in the Federal Register for at least 60 days. Requires the Secretary to transmit to specified congressional committees a copy of each such rule when it is sent to the Federal Register. Provides an exemption for rules certified to be emergency rules. Title VI: Program Amendments and Extensions - Amends the National Housing Act to extend through September 30, 1985, the authority of the Secretary of Housing and Urban Development to insure housing loans and mortgages under specified insurance programs contained in such Act. Terminates the Secretary's authority to insure mortgages for: (1) servicemen after May 20, 1983; and (2) mortgagors qualifying for home ownership assistance payments under such Act after September 30, 1984. Authorizes the Secretary to insure mortgages for public hospitals. Authorizes the appropriation of such funds as may be necessary to cover losses sustained by the General Insurance Fund. Amends the Housing and Urban Development Act of 1970 to authorize appropriations for research activities of the Department of Housing and Urban Development (HUD) for FY 1983 through 1985. Repeals specified provisions that authorize special assistance and emergency mortgage purchase functions of the Government National Mortgage Association (GNMA). Amends the National Housing Act to repeal the Secretary's authority to establish maximum interest rates on Federal Housing Administration (FHA) loans. Provides that housing mortgages or loans insured under programs that are extended beyond FY 1983, with specified exceptions, shall bear interest at such rate as may be agreed upon by the borrower and the lender. (Currently, the Secretary sets or approves such interest rates within prescribed limits.) Continues the authority of the Secretary to set the maximum interest rate for insured mortgages of mortgagors receiving home ownership assistance payments. Authorizes the Secretary to agree to an extension of the term of an insured mortgage on property or land to be improved or developed, upon determining that unusual circumstances make such extension necessary to avoid undue hardship to the mortgagor. Amends the Multifamily Mortgage Foreclosure Act of 1981 to direct the Secretary to provide rental assistance payments to tenants displaced following the foreclosure sale of a multifamily project mortgage held by the Secretary. Limits the aggregate amount of commitments that the Government National Mortgage Association may make to guarantee mortgage backed securities during FY 1984. Limits the amount of loans and mortgages that the Secretary may enter commitments to insure during FY 1984. Repeals a provision of the Housing and Community Development Act of 1977 that requires the Secretary to publish prototype housing costs for each housing market area of the United States. Amends the National Housing Act to increase the maximum amounts of loans for purchasing manufactured homes and lots that may be insured under the FHA program. Allows the Secretary to increase such maximum amounts for an area but not to exceed the percentage by which the maximum insurable amount for a one-family home in that area is increased. (Currently, such increase is limited to $7500.) Allows a qualified owner-occupant of a manufactured home and lot purchased without FHA insurance to refinance such home through an FHA-insured loan, provided the home was constructed in accordance with standards established under the National Manufactured Housing Construction and Safety Standards Act of 1974. Allows the provision of FHA insurance for a mortgage having a principal obligation of up to 97 percent of the appraised value of not more than $50,000 of property on which a one- to four-family dwelling is located, provided the Secretary reports to Congress that such loan-to-value ratio will not adversely affect the actuarial soundness of the FHA mortgage insurance program. Increases the amount of the principal obligation of a mortgage executed by a non-occupant mortgagor which is eligible for FHA insurance. Authorizes the Secretary to fix mortgage insurance premiums separately for the different alternative mortgages, subject to the limitation of one percent of the outstanding principal obligation per year. Authorizes the Secretary to insure, on a coinsurance basis, a specified number of mortgage loans for the purchase and construction of shell homes for occupancy by the buyers. Directs the Secretary to encourage buyers to contribute the value of their labor as equity in the property. Authorizes the Secretary to provide mortgage insurance benefits to a mortgagee without requiring conveyance of the title to the insured property if: (1) the property is sold at foreclosure for at least its fair market value and the proceeds of the sale are deducted from the value of the mortgage; and (2) all claims of the mortgagee relating to the mortgage are assigned to the Secretary. Makes it discretionary (rather than mandatory) for the Secretary to regulate the rents and rate of return on HUD-insured housing projects and to provide such insurance primarily to projects providing for families with children. Permits the Secretary to insure mortgages of manufactured home parks designed exclusively for the elderly. Eliminates special limitations on the amount of a mortgage involving refinancing for rehabilitation purposes which qualifies for FHA insurance. Authorizes the Secretary to direct mortgagees exercising their option to assign certain insured mortgages to the Secretary, to deliver the mortgages and original credit installments directly to the Government National Mortgage Association in lieu of the Secretary. Authorizes the Association to hold and service such loans as agent for the Secretary. Eliminates the option of mortgagees to assign such insured mortgages to the Secretary with respect to a commitment to insure entered into on or after the effective date of this Act. Eliminates the requirement that a condominium meet one of the following conditions to qualify for FHA insurance: (1) the project containing the condominium is or has been federally insured; (2) there are less than 12 units in the project; or (3) if the project has 12 or more units, it is more than one year old. Deletes the additional condition that the mortgagor acquire the condominium for his or her own use and occupancy and not own more than four units covered by insured mortgages. Adds a condition that at least 80 percent of the units with insured mortgages be occupied by the mortgagors or comortgagors. Allows insurable mortgage limits to equal those for a single-family home in the area. Prohibits the provision of insurance for converted rental units unless: (1) the conversion occurred more than one year prior to the application for insurance; (2) the mortgagor was a tenant of the rental unit; or (3) the conversion is sponsored by an organization representing the majority of project households. Extends the Secretary's authority to insure graduated payment mortgages. Eliminates the requirements that a mortgagor must be unable to afford a dwelling under any other mortgage insurance program and must not have owned a dwelling within the previous three years in order to qualify for graduated payment mortgage insurance. Deletes restrictions on the number of graduated payment mortgages which may be insured during a year. Provides authority for the Secretary to insure graduated payment mortgages for housing projects consisting of five or more dwelling units. Authorizes the Secretary to insure a limited number of adjustable rate mortgages for dwellings designed for occupancy by one to four families (single-family homes). Permits annual interest rate adjustments of not to exceed one percent through adjustments in the monthly payment, the outstanding principal balance, the mortgage term, or a combination of these factors. Prohibits: (1) extending the mortgage term beyond 40 years; or (2) increasing the interest rate by more than five percentage points over the mortgage term. Directs the Secretary to require the mortgagee to provide information to the mortgagor describing the features and maximum possible payment schedule for an adjustable rate mortgage. Authorizes the Secretary to insure a specified number of shared appreciation mortgages for single-family homes, cooperative housing stock, and multifamily housing projects. Provides that the mortgagee's share of a property's or stock's net appreciated value shall be paid upon the sale or transfer of the property or stock or payment in full of the mortgage, whichever comes first. Excludes a mortgagee's share of the net appreciated value from the mortgagee's insurance benefits in the event of a default. Directs the Secretary: (1) to prescribe consumer protection and disclosure requirements applicable to shared appreciation mortgages; and (2) in insuring such mortgages, to give a priority to low- and moderate-income tenants affected by the conversion of rental housing to condominium or cooperative ownership. Exempts such mortgages from State authority. Requires a shared appreciation mortgage on a multifamily housing project to have a mortgage term of at least 15 years and to be repayable in monthly installments needed to retire the debt over 30 years. Directs the Secretary to establish the maximum percentage of net appreciated value of a multifamily housing project that is payable as the mortgagee's share. Authorizes the Secretary to insure certain housing loans which do not completely amortize over the loan term. Authorizes the Secretary to insure a specified number of home equity conversion mortgages for elderly homeowners on a demonstration basis. Declares that such a mortgage shall: (1) be secured by a first lien on property designed as a one-family residence; (2) provide for periodic or lump sum payments to the homeowner based upon accumulated equity; (3) have a fixed or variable term or provide for the lender and the homeowner to share the appreciation in the value of the property; (4) become due on a specified date after disbursement of the full principal amount or when a specific event occurs such as the sale of the property or the death of the homeowner; (5) allow prepayment without penalty; and (6) provide for a fixed or adjustable interest rate. Lists other conditions for insurance eligibility. Establishes the eligibility of mortgagees for insurance benefits. Directs the Secretary to require mortgagees to provide a written explanation of the features of a home equity conversion mortgage to any applicant. Preempts State regulation of certain aspects of such a mortgage. Authorizes the Secretary to take any actions necessary to: (1) provide a mortgagor with funds to which the mortgagor is entitled but which the mortgagor has not received under an insured mortgage because the party responsible for payment has defaulted; and (2) obtain repayment of such funds. Directs the Secretary to evaluate such equity conversion mortgage program and report to Congress on: (1) the appropriate types of mortgages for such program; (2) any State or local laws which must be preempted; (3) appropriate changes in FHA insurance; (4) any risk to the FHA or mortgagors of such programs; (5) whether such program has improved the financial situation or met the special needs of participating elderly homeowners and included any safeguards to offset the risks to mortgagors; and (6) the potential for acceptance of such program in the private market. Prohibits the Secretary from accepting an offer from an owner of an assisted multifamily housing project to prepay the project mortgage unless: (1) the Secretary determines that the project no longer meets a need for low-income rental housing in the area or that the needs of the families in the project could be met more effectively through other Federal assistance programs; (2) the tenants are notified of, and provided an opportunity to comment on, such prepayment; and (3) there is a relocation plan to provide comparable housing to displaced tenants. Directs the Secretary to give priority for rental assistance payments to tenants of projects whose owners do not need the Secretary's approval for prepayment. Requires the owners who receive such additional assistance to maintain the low-income character of the project for the remaining term of the mortgage to the extent that assistance is provided. Authorizes the Secretary to make expenditures to correct or provide compensation for structural defects in an FHA-insured single-family home for which a Veterans Administration loan guaranty was approved prior to construction. Requires payment to the Government of mortgage insurance premiums promptly: (1) upon their receipt from the borrower with respect to mortgages on single-family homes; and (2) when due to the Secretary with respect to mortgages on multifamily housing projects. Authorizes appropriations for the Neighborhood Reinvestment Corporation for FY 1983 through 1985. Authorizes the Secretary to insure loans on units of a cooperative housing project constructed more than one year before the application for such insurance was submitted if the Secretary does not disapprove the underlying financing of such project. Eliminates the requirement that projects be nonprofit to qualify for insurance. Authorizes the Secretary to contract with the National Institute of Building Sciences to implement procedures for reviewing and accepting building systems and materials for use in structures approved for Federal loan or mortgage insurance. Authorizes the Secretary, on a demonstration basis, to provide mortgage insurance for certain single-family homes through reinsurance contracts with private mortgage insurance companies. Sets forth contract requirements. Directs the Secretary to evaluate such demonstration program and report to Congress on the possible effect on the characteristics of the pool of mortgages remaining wholly under the General Insurance Fund and the actuarial soundness of the Fund under those conditions. Provides for the liquidation of the new communities program authorized by the Housing and Urban Development Acts of 1968 and 1970. Authorizes the transfer of the assets and liabilities of the new communities revolving fund to HUD's revolving fund (liquidating programs). Cancels the duty of the Secretary to repay the principal and interest on obligations issued to the Treasury to finance such programs. Amends the Housing and Urban Development Act of 1968 to authorize the corporations formed to build and rehabilitate housing for low- and moderate-income families to acquire and finance such housing. Authorizes the corporations and the national housing partnerships to: (1) manufacture products and services for use in connection with such housing; and (2) engage in commercial facilities which are ancillary to housing projects to the level of 15 percent of the corporation's or partnership's activity. Title VII: Homeowners' Relief - Unemployed Homeowners' Relief Act of 1983 - Authorizes the Secretary of Housing and Urban Development, acting through GNMA, to guarantee the timely payment of the principal and interest on junior mortgage loans made to assist homeowners in avoiding foreclosure on their mortgage loans. Restricts eligibility for such junior mortgage loan guarantees to mortgagors who: (1) have lost income as a result of involuntary unemployment or underemployment due to adverse economic conditions and are, therefore, unable to make full mortgage payments; (2) are in default on mortgages on their principal residence; and (3) maintained good mortgage payment practice prior to becoming unemployed or underemployed. Prohibits the Secretary from providing assistance for a mortgage unless: (1) the property securing the mortgage is a one-family residence that is the mortgagor's principal residence; (2) the mortgage is not insured by the FHA or the FmHA; and (3) the original principal obligation of the loan does not exceed FHA mortgage limits. Permits the Secretary to make such a guarantee only if: (1) foreclosure would result without such assistance; and (2) there is a reasonable prospect that the mortgagor will be able to resume making full mortgage payments. Limits the amount of a guaranteed loan to the amount required to cover the payments due under the first and any other senior mortgage for three months preceding, and up to 24 months following, the date of the loan. Requires that the mortgagor make partial payments of up to five percent of such payments during the period of the guaranteed loan. Conditions any junior mortgage loan guarantee on agreement by the lender to: (1) assume the first ten percent of any loss; (2) place the loan proceeds in escrow for payments on the first mortgage, interest payments to the lender, and prepayment of principal on the guaranteed loan; and (3) pay the mortgagor any amounts remaining in escrow after fulfillment of all obligations of the guaranteed loan. Requires the Secretary to guarantee the timely payment of interest before the mortgagor's repayment obligation begins and of principal and interest thereafter for any guaranteed junior mortgage loan that is sold to investors. Requires a mortgagor to begin repaying any guaranteed loan not later than the end of 24 months after the date the loan was executed and to pay the loan in full within 12 years. Directs the Secretary to make a guarantee under this Act upon a lender's certification that: (1) the loan and the mortgagor meet the requirements of this Act; (2) the mortgage is secured by a lien on the mortgagor's principal residence; and (3) the lender has provided credit counseling to the buyer. Directs the Secretary and certain Federal supervisory agencies to: (1) waive or relax limitations on the operations of financial institutions and other mortgagees in order to cause or encourage forebearance in residential mortgage loan foreclosures; and (2) direct mortgagees to inform mortgagors involved in foreclosure proceedings of the assistance available under this title. Allows the Secretary to impose a one percent fee for any guarantee under this title.
United States · United States Congress · 23 May 1983
Designates the year of 1983 as the Wagner-Peyser Fiftieth Anniversary Year.
United States · United States Congress · 19 May 1983
Designates August 3, 1983, as National Paralyzed Veterans Recognition Day.
United States · United States Congress · 18 May 1983
Appoints Jeannine Smith Clark to a vacancy on the Board of Regents of the Smithsonian Institution.
United States · United States Congress · 18 May 1983
Designates July 20 of each year as Space Exploration Day.
United States · United States Congress · 17 May 1983
Designates the week of October 16 through October 22, 1983, as Lupus Awareness Week.