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51 records in US in 1980
United States · United States Congress · 13 December 1980
Declares that the Board of Governors of the Federal Reserve System should reduce and stabilize interest rates to relieve economic distress.
United States · United States Congress · 4 December 1980
Amends the Home Energy Assistance Act of 1980 to require that a State home energy assistance plan include procedures to prevent the payment of such assistance for tenants in housing projects who already receive such assistance under any other Federal, State, or local law.
United States · United States Congress · 17 November 1980
Authorizes, from funds previously approved in appropriations Acts for the homeownership assistance program under the National Housing Act, $125,000,000 to be available for contracts to make periodic mortgage assistance payments entered into on or after October 1, 1980.
United States · United States Congress · 13 November 1980
Authorizes, from funds previously approved in appropriations Acts for the homeownership assistance program under the National Housing Act, $125,000,000 to be available for contracts to make periodic mortgage assistance payments entered into on or after October 1, 1980.
United States · United States Congress · 13 November 1980
Authorizes, from funds previously approved in appropriations Acts for the homeownership assistance program under the National Housing Act, $125,000,000 to be available for contracts to make periodic mortgage assistance payments entered into on or after October 1, 1980.
United States · United States Congress · 13 November 1980
Authorizes, from funds previously approved in appropriations Acts for the homeownership assistance program under the National Housing Act, $125,000,000 to be available for contracts to make periodic mortgage assistance payments entered into on or after October 1, 1980. Specifies that funds recaptured from such program shall be made available for contracts as the funds are recaptured.
United States · United States Congress · 12 November 1980
Authorizes, from funds previously approved in appropriations Acts for the homeownership assistance program under the National Housing Act, $125,000,000 to be available for contracts to make periodic mortgage assistance payments entered into on or after October 1, 1980.
United States · United States Congress · 2 October 1980
Young Families Housing Act of 1980 - Amends the Internal Revenue Code to allow individual taxpayers an income tax deduction for cash contributions to an individual housing account. Limits the amount of such deduction to $2,500 for a taxable year and to $10,000 for all taxable years. Defines "individual housing account" as a trust created or organized in the United States for the exclusive benefit of an individual taxpayer and such taxpayer's spouse in purchasing a principal residence. Sets forth requirements for the establishment and maintenance of an individual housing account. Grants tax-exempt status to an individual housing account trust. Excludes from the gross income of a trust beneficiary amounts distributed from a trust which are used exclusively in connection with the purchase of a principal residence for the beneficiary. Sets forth rules for the tax treatment of a trust and distributions from a trust, in cases of divorce, improper distributions from a trust, and contributions to a trust in excess of the allowable amount. a trust in excess of the allowable amount. Prescribes a penalty equal to ten percent of the payments from a trust which are made for purposes other than the purchase of a principal residence. Requires the trustee of an individual housing account to file informational returns with the Secretary of the Treasury as required. Prescribes penalties for failure to file such returns. Authorizes the Secretary of Housing and Urban Development to increase the number of mortgages insured under the National Housing Act.
United States · United States Congress · 2 October 1980
Residential Rental Housing Tax Incentive Act of 1980 - Amends the Internal Revenue Code to allow a taxpayer election to depreciate new: (1) residential rental property under the straight line method based on a period of 120 months; and (2) low-income rental housing, under the same method, based on a period of 96 months. Exempts residential property, residential rental property, and low-income housing from the requirement that construction period interest and taxes related to such property be amortized instead of deducted currently. Expands eligibility for accelerated depreciation of rehabilitation expenditures for all types of rental housing, not just low-income rental housing. Increases the amount of depreciable low-income rental housing rehabilitation expenditures to $30,000.
United States · United States Congress · 1 October 1980
Senior Citizens Housing Act of 1980 - Amends the Internal Revenue Code to allow an income tax credit to any taxpayer who rents a dwelling unit to or maintains a household for an individual aged 65 or over. Limits such credit to $500 for each such individual for the taxable year.
United States · United States Congress · 1 October 1980
Expresses the sense of the House of Representatives that the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation shall delay any enforcement of due-on-sale clauses until at least 30 days after receipt by Congress of the report of the Secretary of Housing and Urban Development on the effect of such clauses on the assumability of residential mortages.
United States · United States Congress · 30 September 1980
Amends the National Housing Act to extend specified Federal Housing Administration mortgage insurance programs for 15 days. Extends for 15 days the period during which amounts in the rental housing assistance fund may be approved for use in the troubled projects program. Extends for 15 days the authority to provide flexible interest rates on mortgages insured by the Federal Housing Administration. Extends for 15 days the authority for the purchase of mortgages under the Emergency Home Purchase Assistance Act of 1974. Amends the Housing Act of 1964 to extend the rehabilitation loan program for 15 days. Extends for 15 days the authority for rural housing programs under the Housing Act of 1949.
United States · United States Congress · 25 September 1980
Expresses the sense of Congress that the Depository Institutions Deregulation Committee should establish a specified housing differential for thrift institutions through April 1, 1986.
United States · United States Congress · 24 September 1980
Authorizes from funds previously approved in appropriations Acts for the homeownership assistance program under the National Housing Act $125,000,000 to be available for contracts to make periodic mortgage assistance payments entered into on or after October 1, 1980.
United States · United States Congress · 24 September 1980
Amends the Housing and Community Development Act of 1974 to require the Secretary of Housing and Urban Development, if so requested by an urban county, to exclude areas of such county consolidated with a city having a population of over 100,000 from determinations of distress levels for purposes of the urban development action grant program.
United States · United States Congress · 16 September 1980
Tax Exempt Bonds for Housing Act - Amends the Internal Revenue Code to limit the eligibility of mortgage bond interest for exclusion from gross income to issues: (1) all the proceeds of which (excluding issuance costs, administrative expenses, and a reasonably required reserve) are reasonably expected to be used to finance owner-occupied residences; and (2) whose proceeds are used to acquire a residence whose cost does not exceed 300 percent of the median family income for the statistical area in which it is located (400 percent in the case of certain target areas). Limits eligible mortgagors for whom such owner-financing is provided to those whose family income is 120 percent or less of the median family income for the statistical area involved (150 percent in the case of certain target areas). Limits the aggregate amount of qualified mortgage bonds issued during the calendar year to ten percent of the average annual aggregate principal amount of mortgages executed during the preceding three calendar years plus: (1) for State-issued bonds, an additional percentage determined according to a specified formula; or (2) in the case of local-issue bonds, an optional limit determined according to a specified formula. Defines the kind of qualified census tract, chronic economic distress area, or blighted area which would constitute a target area for purposes of this Act. Allows exclusion from gross income of interest on industrial development bonds which provide for projects for residential rental property if: (1) at least 20 percent of the units in each project are to be occupied by low or moderate income individuals; and (2) at least 55 percent of such units are to be occupied by individuals earning not more than 150 percent of low and moderate income individuals.
United States · United States Congress · 15 September 1980
Residential Rental Housing Tax Incentive Act of 1980 - Amends the Internal Revenue Code to allow a taxpayer election to depreciate new residential rental property under the straight line method based on a period of 120 months. Exempts residential property, residential rental property, and low-income housing from the requirement that construction period interest and taxes related to such property be amortized instead of deducted currently. Expands eligibility for accelerated depreciation of rehabilitation expenditures for all types of rental housing, not just low-income rental housing. Increases the amount of depreciable rental housing rehabilitation expenditures to $30,000.
United States · United States Congress · 25 August 1980
Disapproves the approval of the Rental Housing Conversion and Sale Act of 1980 by the District of Columbia Council.
United States · United States Congress · 31 July 1980
Housing Survival Act of 1980 - Amends the Depository Institutions Deregulation Act of 1980 to repeal provisions establishing the Depository Institutions Deregulation Committee. Prescribes maximum interest rates for savings and loan accounts of O.25 percent of the maximum rates for bank accounts. Terminates all authority to set maximum interest rates on June 30, 1987 (currently, March 31, 1986). Directs the Board of Governors of the Federal Reserve System, the Board Directors of the Federal Deposit Insurance Corporation, and the Federal Home Loan Bank Board to report to Congress regarding the ability of the housing industry to withstand the removal of the interest rate differential. Amends the Federal Reserve Act, the Federal Deposit Insurance Act, and the Federal Home Loan Bank Act to require the respective Boards to limit interest rates or dividends on time and savings deposits to no more than the market rate of interest (the rate comparable to U.S. Treasury securities of similar maturity).
United States · United States Congress · 24 July 1980
Authorizes the Director of the Community Services Administration to implement emergency heat crisis programs for low income and elderly persons during a heat crisis (as defined in this Act). States that: (1) such programs shall include payments for utility bills and cooling devices and for transportation to community shelters with adequate cooling facilities; and (2) funds may be provided only from June 1 through September 30 of any given year.
United States · United States Congress · 26 June 1980
Multifamily Mortgage Foreclosure Act of 1980 - Authorizes the Secretary of the Department of Housing and Urban Development to foreclose multifamily mortgages held by the Secretary encumbering real estate located in any State. Sets forth procedures for the designation of a foreclosure commissioner or commissioners by the Secretary. Designates the Secretary as a guarantor of payment of any judgment against such commissioners. Permits a foreclosure by the Secretary to commence upon the breach of a covenant or condition in the mortgage agreement for which foreclosure is authorized under such mortgage. Specifies procedures for: (1) notice of default and foreclosure sale; (2) service of such notice; (3) presale reinstatement and cancellation of foreclosure; (4) conduct of a foreclosure sale; (5) disposition of foreclosure costs and sale proceeds; (6) transfer of title and possessions; and (7) recording the foreclosure and sale. Authorizes the Secretary to require, as a condition and term of sale, that the purchaser at a foreclosure sale under this Act agree to the continued operation of the security property in accordance with the appropriate loan program.
United States · United States Congress · 24 June 1980
Waives certain points of order against the bill H.R. 7631 (Department of Housing and Urban Development funding).
United States · United States Congress · 19 June 1980
Department of Housing and Urban Development - Independent Agencies Appropriation Act, 1981 - Title I: Department of Housing and Urban Development - Makes appropriations to the Department of Housing and Urban Development (HUD) for fiscal year 1981 for: (1) housing programs for housing payments, low-income housing projects, the troubled projects operating subsidy, and the Federal Housing Administration Fund; (2) the Government National Mortgage Association (GNMA) for participation sales insufficiencies; (3) the Solar Energy and Energy Conservation Bank for solar and conservation improvements assistance (by transfer); (4) community planning and development for community development grants, urban development action grants, comprehensive planning grants, and the Rehabilitation Loan Fund; (5) the New Community Development Corporation for the New Communities Fund; (6) neighborhoods, voluntary associations and consumer protection for housing counseling assistance and the neighborhood self-help development program; (7) policy development and research for research and technology; (8) fair housing and equal opportunity for fair housing assistance; and (9) management and administration for salaries and expenses (including transfer of funds). Rescinds a specified portion of the funds appropriated for rent supplements. Authorizes obligations on the part of: (1) the Housing for the Elderly or Handicapped Fund; (2) loans for low-rent public housing; (3) nonprofit sponsor assistance; (4) the GNMA Special Assistance Functions Fund, emergency mortgage purchase assistance, and guarantees of mortgage-backed securities; and (5) urban renewal programs. Authorizes the use of fiscal year 1979 urban homesteading funds for reimbursement to the Administrator of Veterans Affairs and the Secretary of Agriculture. Prohibits the use of appropriated funds to: (1) implement final energy conservation performance standards for new buildings; or (2) finance any newly assisted low-income housing project whose gross rent will be higher than local fair market rentals. Title II: Independent Agencies - Makes appropriations for fiscal year 1981 to the: (1) American Battle Monuments Commission for salaries and expenses; (2) Consumer Product Safety Commission for salaries and expenses; (3) Department of Defense-Civil for Army cemetery expenses; (4) Environmental Protection Agency (EPA) for salaries and expenses, research and development, abatement, control and compliance activities, buildings and facilities, construction grants, and the U.S. Regulatory Council; (5) Executive Office of the President for the Council on Environmental Quality, Office of Environmental Quality, and Office of Science and Technology Policy; (6) Federal Emergency Management Agency (FEMA) for disaster relief, emergency planning, preparedness and mobilization, hazard mitigation and disaster assistance, and the National Flood Insurance Fund; (7) General Services Administration for the Consumer Information Center; (8) Department of Health and Human Services for the Office of Consumer Affairs; (9) National Aeronautics and Space Administration for facilities construction and research and program management; (10) National Commission on Air Quality for salaries and expenses; (11) National Consumer Cooperative Bank for salaries and expenses and self-help development; (12) National Credit Union Administration for the Central Liquidity Facility; (13) National Institute of Building Sciences for salaries and expenses; (14) National Science Foundation for research, scientific education, and overseas scientific activities (special foreign currency program); (15) Neighborhood Reinvestment Corporation for salaries and expenses; (16) Selective Service System for salaries and expenses; (17) Department of the Treasury for the State and Local Government Fiscal Assistance Trust Fund, Office of Revenue Sharing expenses, New York City loan guarantee program, and National Consumer Cooperative Bank investment; and (18) Veterans Administration for compensation and pensions, readjustment benefits, veterans insurance and indemnities, medical care, medical and prosthetic research, medical administration and miscellaneous expenses, general operating expenses, construction of major and minor projects, State extended facilities construction, State veterans cemeteries construction, and grants to the Philippines. Authorizes obligations on the part of the Loan Guaranty Revolving Fund, Direct Loan Revolving Fund, Service-Disabled Veterans Insurance Fund, Veterans Reopened Insurance Fund, Education Loan Fund, Vocational Rehabilitation Revolving Fund, National Service Life Insurance Fund, U.S. Government Life Insurance Fund, and Veterans Special Life Insurance Fund. Limits appropriations to the EPA to be used for preparing, reviewing, or approving State Implementation Plans. Permits appropriations for FEMA to be used to hire motor vehicles and pay travel expenses to emergency preparedness meetings. Permits the transfer of funds appropriated to the Veterans Administration in specified circumstances. Limits the use of appropriations for purchasing any site or constructing any new hospital or home. Requires reimbursement if any persons, other than eligible beneficiaries, are hospitalized or examined at veterans facilities. Title III: Corporations - Authorizes corporations and agencies of HUD and the Federal Home Loan Bank Board to make commitments without regard to fiscal year limitations unless otherwise limited. Limits new loan or mortgage purchase commitments to the extent expressly provided in this Act with specified exceptions. Makes appropriations for fiscal year 1981 to the Federal Home Loan Bank Board for administrative expenses of the Board and the Federal Savings and Loan Insurance Corporation (FSLIC). Sets specified limitations on such expenses. Authorizes necessary obligations on the part of the FSLIC Fund. Title IV: General Provisions - Limits travel expense expenditures to the amounts set forth in the budget estimate, with specified exceptions. Permits the use of HUD appropriations (as well as Selective Service System funds) for: (1) uniforms and the hire of passenger vehicles; (2) legal services, and (3) payments to specified agencies. Prohibits the use of appropriated funds, with specified exceptions: (1) beyond the current fiscal year; (2) without a voucher describing the payees and services or specific statutory authorization; (3) for transportation between the domicile and place of employment of any officer or employee; (4) for payments to recipients that do not share in the cost of conducting research not specifically solicited by the Government; (5) for consultants paid in excess of the rate paid for GS-18; and (6) for compensation of non-Federal parties intervening in regulatory or adjudicatory proceedings. Requires congressional approval of funds for personnel compensation and benefits for other object classifications set forth in the budget estimates.
United States · United States Congress · 13 June 1980
Amends the Housing Act of 1959 by exempting specified low-income housing projects of eight or fewer units from the provisions of the Davis-Bacon Act (Public Contract Wage Provisions).
United States · United States Congress · 5 June 1980
Amends the National Housing Act to direct that the interest rate on mortgages secured by one- to four-family residences and insured or guaranteed under specified Federal laws, be negotiated between borrower and lender. Prohibits lenders from charging discount points on such mortgages in excess of their acquisition costs.
United States · United States Congress · 22 May 1980
Authorizes the Administrator of Veterans' Affairs to assist in acquiring specially equipped housing for certain veterans with permanent and total service-connected disabilities due to the loss or loss of use of both upper extremities.
United States · United States Congress · 22 May 1980
Sets forth the rule for the consideration of H.R. 7262 (housing, neighborhood development, and related programs).
United States · United States Congress · 21 May 1980
Amends the National Housing Act to raise the limit on the principal amount of a mortgage which may be insured under such Act as regards single- family residences in high-cost areas.
United States · United States Congress · 20 May 1980
Amends the Internal Revenue Code to allow a deduction for cash and other personal property contributions to a savings account created or organized exclusively for the purpose of paying the educational expenses of the taxpayer or the taxpayer's child. Limits the amount of such deduction to $1,000 per year, adjusted for inflation. Limits the duration of eligibility for such deduction to calendar years prior to the account beneficiary's 21st birthday, or prior to the beneficiary's enrollment as a full-time student at an eligible educational institution of higher learning, whichever occurs earlier. Excludes distributions from such an account from the gross income of the payee so long as such distributions are used to defray the beneficiary's tuition, fees, books and supplies, and reasonable living expenses. Specifies sanctions for the use of account funds for other than such educational purposes. Treats qualified distributions as income to the beneficiary for the taxable year in which the beneficiary attains age 25, and for each of the following nine years, in successive apportionments equal to ten percent of the total amount of such distributions. Allows a deduction for cash and other personal property contributions to a savings account created or organized for the benefit of the taxpayer (or the taxpayer and spouse if married) for the exclusive purpose of purchasing the first dwelling purchased by such individual as a principal residence. Limits the maximum annual deduction to $1,500 ($3,000 in the case of married individuals filing jointly), with a maximum lifetime deduction of $15,000 ($30,000 in the case of married individuals filing jointly). Provides for annual inflation adjustment of such amounts. Excludes distributions from such account from gross income so long as they are used exclusively for the purchase of a first principal dwelling. Provides for recapture of such distribution upon a subsequent sale of such first dwelling if another house is not purchased with the proceeds. Requires reduction of the $100,000 exclusion from gross income of proceeds from the sale of a principal residence by a taxpayer 55 years of age or older if such residence had been purchased with distributions from a tax-exempt housing savings account. Limits the amount of such reduction to the amount of any such distribution excluded from gross income.
United States · United States Congress · 20 May 1980
Amends the United States Housing Act of 1937 to authorize the Secretary of Housing and Urban Development to enter into annual contribution contracts in order to make assistance available for lower income persons living in single-room housing units. Directs the Secretary to establish minimum property standards for such units and for inspections to assure compliance therewith.
United States · United States Congress · 20 May 1980
Amends the Internal Revenue Code to lower from 80 to 50 percent the gross income definitional requirement of a cooperative housing corporation, for purposes of the tenant-stockholder income tax deduction for taxes, interest, and business depreciation.
United States · United States Congress · 19 May 1980
Amends the Internal Revenue Code to allow a deduction for cash and other personal property contributions to a savings account created or organized exclusively for the purpose of paying the educational expenses of the taxpayer or the taxpayer's child. Limits the amount of such deduction to $1,000 per year, adjusted for inflation. Limits the duration of eligibility for such deduction to calendar years prior to the account beneficiary's 21st birthday, or prior to the beneficiary's enrollment as a full-time student at an eligible educational institution of higher learning, whichever occurs earlier. Excludes distributions from such an account from the gross income of the payee so long as such distributions are used to defray the beneficiary's tuition, fees, books and supplies, and reasonable living expenses. Specifies sanctions for the use of account funds for other than such educational purposes. Treats qualified distributions as income to the beneficiary for the taxable year in which the beneficiary attains age 25, and for each of the following nine years, in successive apportionments equal to ten percent of the total amount of such distributions. Allows a deduction for cash and other personal property contributions to a savings account created or organized for the benefit of the taxpayer (or the taxpayer and spouse if married) for the exclusive purpose of purchasing the first dwelling purchased by such individual as a principal residence. Limits the maximum annual deduction to $1,500 ($3,000 in the case of married individuals filing jointly), with a maximum lifetime deduction of $15,000 ($30,000 in the case of married individuals filing jointly). Provides for annual inflation adjustment of such amounts. Excludes distributions from such account from gross income so long as they are used exclusively for the purchase of a first principal dwelling. Provides for recapture of such distribution upon a subsequent sale of such first dwelling if another house is not purchased with the proceeds. Requires reduction of the $100,000 exclusion from gross income of proceeds from the sale of a principal residence by a taxpayer 55 years of age or older if such residence had been purchased with distributions from a tax-exempt housing savings account. Limits the amount of such reduction to the amount of any such distribution excluded from gross income.
United States · United States Congress · 15 May 1980
Housing and Community Development Act of 1980 - Title I: Community and Neighborhood Development and Conservation - Amends the Housing and Community Development Act of 1974 to define, for the purposes of such Act the following: (1) energy conservation; (2) conservation program; (3) renewable resource; (4) State energy plan; (5) State energy program; and (6) areawide planning organization. Specifies that under such Act, for fiscal years 1981, 1982, and 1983, no data derived from the 1980 Decennial Census, except those relating to population and poverty, shall be taken into account for purposes of the allocation of funds to metropolitan areas. Prohibits, for fiscal years 1981, 1982, and 1983, any revision of the criteria for establishing a metropolitan area or defining a central city of such an area published after January 1, 1980, from being taken into account for purposes of this title, except in the case of any area or city which would newly qualify as a metropolitan area or a central city of such an area. Specifies that, with respect to grants for State, tribal, and local community development programs, beginning in fiscal year 1982, the population of any unit of general local government which is included in that of an urban county shall be included in the population of such urban county for three program years beginning with the program year in which its population was first so included. Requires any county seeking qualification as an urban county, including any urban county seeking to continue such qualification, to notify each unit of general local government, which is included therein and is eligible to elect to have its population excluded from that of an urban county, of its opportunity to make such an election. Authorizes the appropriation of funds for the purpose of making grants to States and units of local government to help finance community development programs for fiscal years 1981 through 1983. Authorizes funds for fiscal years 1981 through 1983 for the purpose of assisting severely distressed cities that require supplemental grant assistance in order to alleviate excessive deterioration through neighborhood reclamation and community revitalization. Requires an applicant for a grant under the community development program to take into account the effect of such activities on the involuntary displacement of low- and moderate-income persons and to consider appropriate environmental factors. Requires an applicant for a grant under the community development program, where the program to be funded by the applicant includes more than one economic development project, to certify that that portion of the application which will be for economic development must principally benefit low- and moderate-income persons. Limits amounts of appropriated funds which may be used to aid metropolitan cities, urban counties, and other units of local government within metropolitan areas to meet their basic grant needs. Eliminates hold-harmless entitlements. Amends the Housing Act of 1964 to extend the rehabilitation loan program under such Act to include congregate housing and single-room occupancy housing, and to authorize appropriations through fiscal year 1983 for community and neighborhood development and conservation programs. Authorizes appropriations, through fiscal year 1981, for the neighborhood self-help development programs under the Housing and Community Development Amendments of 1978. Amends the Housing and Community Development Act of 1974 to authorize the Secretary of Housing and Urban Development to reimburse the Veterans Administration for properties transferred to urban homesteading programs. Specifies that cities and urban counties must submit a block grant application to be eligible for urban development action grants. Makes Indian tribes eligible for the grant funds available to small cities. Sets forth the criteria by which an Indian tribe could be considered as an eligible applicant for such grants. Amends the Housing and Community Development Act of 1974 to authorize appropriations through fiscal year 1982, from the Solar and Conservation Reserve, for the Community Energy Block Grant program as established by this Act. Authorizes the Secretary to make energy conservation block grants in order to encourage units of general local government to adopt and implement community plans and programs designed to achieve significant energy savings. Requires applicants for such grants to submit a comprehensive three-year community energy conservation strategy for meeting energy needs and objectives. Prohibits the Secretary from approving an application if: (1) the Secretary of Energy makes a negative finding on technical aspects of the application, or finds that the strategy is not consistent with the State energy plan; (2) the activities proposed are inconsistent with the community's energy needs and objectives; or (3) the applicant is incapable of effectively carrying out its community energy strategy. Specifies that an application for such a grant shall be deemed approved upon the expiration of 75 days after receipt unless, on the findings of the Secretary or the Secretary of Energy, the Secretary informs the applicant of specific reasons for disapproval. Requires each grantee to submit an annual performance report on the activities carried out pursuant to such grant. Requires the Secretary, at least on an annual basis, to make such reviews and audits as may be necessary or appropriate to determine whether the grantee has carried out a program substantially as described in its application. Allows the Secretary to make appropriate adjustments in the amount of the annual grants in accordance with the Secretary's findings based upon a performance report submitted by a grantee, or in accordance with any other reviews or audits made by the Secretary. Requires 80 percent of the funds approved in an appropriations Act for community energy block grants in any year to be allocated by the Secretary to metropolitan areas, of which, ten percent shall be set aside for metropolitan small cities. Transfers from the Office of Management and Budget, to the Department of Commerce, the responsibility for establishing and defining standard metropolitan statistical areas and their components, and for providing criteria with respect to poverty levels. Eliminates the special consideration given small hold-harmless communities with comprehensive community development programs in the program of multi-year funding for small cities with such programs. Title II: Housing Assistance Programs - Amends the United States Housing Act of 1937 to authorize the Secretary of Housing and Urban Development to enter into contracts for annual contributions under such Act for low-income housing projects in fiscal years 1980 and 1981. Authorizes the Secretary to provide annual contributions in the form of interest reduction payments pursuant to contracts with owners or prospective owners of new or substantially rehabilitated rental housing projects involving five or more dwelling units. Specifies that the Secretary may enter into such a contract only if at least 20 percent, but not more than 25 percent, of the dwelling units in such project will be set aside for occupancy by low-income families. Directs that any such payments shall be made on behalf of the owner directly to a mortgagee. Sets forth the criteria for determining the amount of the annual payment. Specifies that the initial rent schedule and any increase in rents during the period when interest reduction payments are made must be approved by the Secretary. Requires the Secretary to respond to a properly documented request for a rent increase within 30 days of receipt of such request. Specifies that during the period when interest reduction payments are being made with respect to a project assisted under this Act; (1) the mortgage may not be prepaid or refinanced; and (2) no sale or other disposition of such project may be made, without prior approval of the Secretary. Prohibits such a project, for a period of 20 years following the initial occupancy, from being converted to a use other than rental housing unless the Secretary determines that preservation of such project as rental housing is not desirable. Authorizes appropriations for public housing operating subsidies for fiscal year 1981. Authorizes appropriations for fiscal year 1981 for operating assistance for troubled multifamily housing projects under the Housing and Community Development Amendments of 1978. Amends the National Housing Act to direct the Secretary to utilize amounts credited to the rental housing assistance fund for the sole purpose of carrying out assistance for troubled multifamily housing projects through September 30, 1981. Increases the allowable maximum amount for mortgage assistance payments under the National Housing Act. Allows the Secretary, under the mortgage insurance program, to insure a mortgage involving a principal obligation which exceeds, by not more than ten percent, the maximum limits, if such mortgage relates to a dwelling to be occupied by a physically handicapped person. Amends the Housing and Community Development Amendments of 1978 to require a public housing agency or nonprofit corporation applying for assistance to provide congregate services: (1) to elderly residents to consult with the Area Agency on Aging; and (2) to nonelderly handicapped residents to consult with the appropriate agency. Makes housing assisted under the United States Housing Act of 1937 eligible for congregate services funding if such housing is: (1) occupied solely by handicapped persons; (2) owned and operated by a nonprofit sponsor; and (3) designed to provide congregate services. Requires the Secretary, not later than March 31, 1981, to submit a comprehensive feasibility study of a housing assistance block grant program as an alternative to the fiscal year 1982 budget for categorical housing assistance programs. Title III: Program Amendments and Extensions - Extends through September 30, 1981, the authority of the Secretary of Housing and Urban Development (HUD) to insure mortgages or loans under certain HUD mortgage or loan insurance programs under the National Housing Act and to set interest rates for insured mortgage loans. Extends until October 1, 1981, the authority of the Government National Mortgage Association to enter into new commitments to purchase mortgages under the interim mortgage purchase authority of the National Housing Act, as amended by the Emergency Home Purchase Assistance Act of 1974. Extends through fiscal year 1981 the authority of the Secretary to set interest rates on FHA-insured mortgage loans above the statutory maximum in order to meet market conditions. Authorizes appropriations for research and demonstration housing projects under the Housing and Urban Development Act of 1970 through fiscal year 1981. Amends the National Housing Act to authorize appropriations to cover losses sustained by the General Insurance Fund. Allows the President to authorize the Government National Mortgage Association to make payments to financial institutions for the purpose of subsidizing below market rate loans which are secured under the National Housing Act covering properties consisting of five or more dwelling units. Authorizes appropriations for such payments for fiscal year 1981. Increases, by up to 20 percent, the amounts which may be insured under the National Housing Act for multifamily and institutional projects if such increase is necessary to account for the increased cost of the project due to the installation of a solar energy system or residential energy conservation measures. Amends the National Housing Act to authorize the Secretary, in collecting or compromising claims or obligations under the mortgage insurance program, to contract with private business concerns or agencies for payment for services rendered by such concerns or agencies in assisting the Secretary in making such collection or compromise. Requires a mortgage, in order to be eligible for mortgage insurance under the National Housing Act, to have a period of not less than ten years to run beyond the maturity date of the mortgage. Makes mortgaged property located where concentrated housing, physical development, and public service activities are being or will be carried out in a coordinated manner, pursuant to a locally developed strategy for neighborhood improvement, conservation, or preservation, eligible for rehabilitation and neighborhood conservation housing insurance under the National Housing Act. Amends the National Housing Act to increase the mortgage limits for single family housing. Eliminates the requirement that a mortgage insured under the National Housing Act have a maturity exceeding three-quarters of the Secretary's estimate of the remaining economic life of the building improvements. Amends the Housing and Urban Development Act of 1968 to eliminate the requirement that lower income persons must reside in the area of a project in order to be given priority for training and employment in connection with such project's receiving direct financial assistance under such Act. Eliminates the requirement that contracts for work to be performed in connection with any such HUD assisted project be awarded to business concerns which are located in or owned by persons residing in the area of such project. Requires contracts for such projects to be awarded, to the greatest extent feasible, to socially and economically disadvantaged individuals or to firms owned and controlled by such individuals. Declares that the land transferred by the city of Springfield, Illinois, to the United States Department of the Interior for the Lincoln Home National Historic Site shall be deemed to have been made in accordance with the provisions of the Housing Act of 1961 and any other law and with any regulations or other requirements in implementation thereof. Amends the Energy Conservation and Production Act to transfer to the Secretary of Energy the authority of the Secretary of Housing and Urban Development to implement energy performance standards for new residential and commercial buildings. Extends until August 1, 1982, the deadline for the implementation of the Building Energy Performance Standards. Amends the Housing Act of 1959 to permit nonprofit sponsors of housing for nonelderly handicapped to use loans under such Act for the acquisition of existing housing and the rehabilitation, alteration, conversion, or improvement of such housing to meet the needs of handicapped (primarily nonelderly) persons. Amends the Home Mortgage Disclosure Act of 1975 to transfer the responsibility of designating a standard metropolitan statistical area from the Office of Management and Budget to the Department of Commerce. Eliminates the use of the ZIP code as information required to be maintained and made available to the public by each depository institution which has a home office or branch office located within a standard metropolitan statistical area. Specifies that data required to be disclosed by any depository institution under such Act for 1980 and thereafter shall be disclosed for each calendar year. Requires the Board of Governors of the Federal Reserve System to prescribe a standard format for such disclosures. Requires the Board, the Federal Home Loan Bank Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration Board, in consultation with the Secretary of Housing and Urban Development, to conduct a study to assess the feasibility of arranging for a central depository of data in each standard metropolitan statistical area where disclosure statements would be available to the public for inspection and copying. Repeals the requirement that the authority granted by such Act shall expire four years after its effective date. Requires the Federal Financial Institutions Examination Council, beginning with data for calendar year 1980, to compile each year, for each standard metropolitan statistical area, aggregate data by census tract for all depository institutions which are required to disclose data. Requires the Council also to produce tables indicating, for each such area, aggregate lending patterns for various categories of census tracts grouped according to location, age of housing stock, income level, and racial characteristics. Requires the Secretary of Housing and Urban Development, beginning with data for calendar year 1980, to make publicly available data in the Secretary's possession for each mortgagee which is not otherwise required to disclose data, with respect to mortgage loans approved by the Secretary for insurance under the National Housing Act. Requires the Secretary to compile and make publicly available aggregate data for such mortgagees by census tract, and tables indicating aggregate lending patterns. Requires the Federal Financial Institutions Examination Council, in consultation with the Administrator of the Small Business Administration, to conduct a study to assess the feasibility and usefulness of requiring depository institutions which make small business loans to compile and publicly disclose information regarding such loans. Requires the Council to report to Congress on the feasibility and desirability of establishing a unified system for enforcing fair lending laws and regulations, implementing the Community Reinvestment Act of 1977, and satisfying the public disclosure purposes of the Home Mortgage Disclosure Act of 1975. Amends the Housing and Community Development Act of 1978 to direct the Secretary of Housing and Urban Development, in managing and disposing of multifamily housing projects which are owned in a manner consistent with the National Housing Act, to maintain, to the maximum extent feasible and appropriate, the rental character of multifamily rental housing projects. Directs the Secretary, in disposing of a multifamily housing project on a negotiated, competitive bid, or other basis, to consider the number of units in the project occupied by low- and moderate-income persons. Directs the Secretary, in disposing of any multifamily rental housing project, to require that the project remain rental in character for a period of at least 20 years from the date of disposition, except in specified cases. Redefines the term 'multifamily rental housing project' for the purposes of such Act. Amends the Neighborhood Reinvestment Corporation Act to change the name of the National Neighborhood Reinvestment Corporation to the Neighborhood Reinvestment Corporation. Authorizes appropriations for the neighborhood reinvestment program through fiscal year 1981. Amends the National Housing Act to authorize the Federal National Mortgage Association to purchase loans secured by stock in a cooperative housing corporation. Sets limitations governing the maximum principal obligation of conventional mortgages purchased by the Association. Authorizes the Association, with the approval of the Secretary of Housing and Urban Development, to purchase, service, sell, lend on the security of, and otherwise deal in loans or advances of credit for improvements to properties. Directs the Secretary, when the Association submits its proposal to implement such authority to purchase conventional home improvement loans, to respond with comments within 90 days. Amends the Federal Home Loan Mortgage Corporation Act to establish limitations governing the maximum principal obligation of conventional mortgages purchased by the Federal Home Loan Mortgage Corporation. Authorizes the Secretary to make available an amount not to exceed $30,000,000 of purchase authority to reduce interest rates on existing low- and moderate-income rental housing which otherwise could not support refinancing and moderate rehabilitation without causing excessive rent burdens on current tenants due to rent increases. Extends allowances for rent increases to offset maintenance of reasonable profit levels. Specifies that any multifamily housing project purchased or refinanced with a mortgage insured under the National Housing Act which, because of the mortgage amount, does not qualify for the Government National Mortgage Association Mortgage-Backed Securities Program, is eligible for a cash payout in the case of default. Requires all such insured properties to remain as rental properties for 20 years unless the Secretary finds that: (1) the conversion of the property to a cooperative or condominium form of ownership is sponsored by a bona fide tenants' organization; (2) continuance of the property as rental housing is clearly unnecessary to assure adequate rental housing for low- and moderate-income people; or (3) continuance of the property as rental housing would have an undesirable and deleterious effect on the surrounding neighborhood. Amends the Housing Act of 1954 to require the Secretary of Housing and Urban Development to include in the annual report a description of the status of the existing rental housing stock. Amends the National Housing Act to increase loan insurance limits for manufactured homes, manufactured home lots, and manufactured home and lot combinations. Allows the Secretary of Housing and Urban Development to increase such loan insurance limits in high cost areas. Amends the United States Housing Act, the Housing and Community Development Act of 1974, and the National Housing Act to change the term "mobile home" to "manufactured home." Revises the definition of such term to mean a structure, transportable in one or more sections, which is more than eight body feet in width, is more than 40 body feet in length in the traveling mode, or contains 400 or more square feet in interior space when erected on site. Requires the Secretary to develop a procedure for collecting and regularly reporting data on the mean and median sales price for new manufactured homes. Permits the Secretary to modify the 40 percent limit on the number of units in a subdivision which may receive mortgage assistance payments under the National Housing Act in order to encourage the production of safe and affordable housing. Eliminates specified conditions on Government National Mortgage Association purchases of multifamily mortgages. Amends the Depository Institutions Deregulation and Monetary Control Act of 1980 to specify that a loan made under such Act shall be deemed to be made during the required time period if such loan: (1) is funded or made in whole or in part during such period; (2) was made prior to or on April 1, 1980, and bears or provides for interest during such period on the outstanding amount thereof at a variable or fluctuating rate; or (3) is a renewal, extension, or other modification during such period of any loan, if such renewal, extension, or other modification is made with the written consent of any person obligated to repay such loan and is of an original principal amount of $25,000 or more. Allows an individual homeowner who has occupied or is occupying such home as a principal residence to finance the sale of such home at an interest rate that may be higher than that allowed by a State usury law. Title IV: Planning Assistance - Declares that the following are national policy objectives with respect to housing under the Housing Act of 1954: (1) the conservation and improvement of existing communities; (2) an increase in housing and employment opportunities and choices; and (3) the promotion of orderly and efficient growth and development of communities, regions, and States, taking into consideration the necessity of conserving energy. Declares that it is the purpose of this title to help achieve these objectives by: (1) encouraging the joint efforts of State and local governments and areawide planning organizations in developing State and areawide strategies; and (2) assuring that strategies developed pursuant to this section will lead to implementation activities by States, areawide planning organizations, and local governments. Authorizes the Secretary of Housing and Urban Development to make grants approved in accordance with the provisions set forth in this section to: (1) States, for statewide activities; (2) States, for the provision of assistance to metropolitan areawide planning organizations, nonmetropolitan areawide planning organizations, units of general local government, counties other than urban counties, and any group of adjacent units of general local government having a total population of less than $50,000; (3) metropolitan areawide planning organizations; (4) the Virgin Islands, Guam, the Northern Mariana Islands, American Samoa, and the Trust Territory of the Pacific Islands; and (5) Indian tribes. Specifies that such grants shall not exceed two-thirds of the estimated cost of the work for which the grant is made. Requires applications for such grants to set forth a strategy statement which identifies policies and programs over at least a three-year period which address the major issues and problems of the applicant's jurisdiction. Requires the Secretary to establish, by regulation, criteria for the evaluation and approval of strategy statements and applications for grants and for the awarding of such grants. Requires each State and other entity receiving assistance directly from the Secretary for actions or activities being carried out to submit to the Secretary, each year, a performance report concerning such actions and activities. Requires the Secretary, on an annual basis, to make such reviews and audits as may be necessary or appropriate to determine whether a recipient of funds has carried out activities substantially as described in its application. Title V: Condominium and Cooperative Conversion Protection and Abuse Relief - Condominium and Cooperative Conversion Protection and Abuse Relief Act of 1980 - Specifies that it is the purpose of this title to provide minimum rights and disclosure of information to the tenants of rental properties undergoing conversion to condominium or cooperative projects and to correct and prevent abusive use of long-term leasing of recreation and other cooperative- and condominium-related facilities. Sets forth exemptions to the provisions of this title. Prohibits any developer or agent in selling or offering to sell to a tenant any condominium or cooperative unit in any conversion project from engaging in certain fraudulent activities. Requires the developer of a conversion project to extend to its tenants one year warranties on any repairs or rehabilitation of units or common elements. Requires such developer to notify tenants of an intent to convert no later than 120 days prior to the date they will be required to vacate, and to offer to sell such unit to the tenant who leases or occupies it for 90 days after providing such notice. Requires the developer in the case of a conversion project to provide the tenants of such project, not later than six weeks after delivery or mailing of the notice of intent to convert, specified information provided by an independent engineer or architect. Specifies that this section shall not apply to: (1) a conversion project to which the developer has acquired legal title prior to the effective date of this title; or (2) a condominium or cooperative unit restricted to commercial or industrial purposes. Allows any contract which is entered into after the effective date of this title to be terminated without penalty by such unit owners or such association if such contract meets specified conditions. Allows cooperative and condominium unit owners to bring an action seeking a judicial determination that lease provisions are unconscionable if each lease contains specified characteristics. Declares that a developer or agent subject to this title may be sued at law or in equity by any person aggrieved by a violation of this title. Specifies that any condition, stipulation, or provision binding any person to waive compliance with any provisions of this title shall be void. Authorizes the Secretary of Housing and Urban Development to undertake research, education, and technical assistance activities designed to assist tenants and consumers in the purchase and management of condominium and cooperative units.
United States · United States Congress · 15 May 1980
Amends the Housing Act of 1949 to authorize appropriations for fiscal year 1981 for rural housing programs with specified amounts earmarked for: (1) low and moderate income or elderly rental and cooperative housing assistance; (2) insurance of loans for domestic farm labor housing; and (3) guaranteed loans. Authorizes appropriations for fiscal year 1981 for: (1) loans and grants for rural dwellings repair; (2) financial assistance for low-rent housing for domestic farm labor; and (3) programs of technical and supervisory assistance for low-income individuals and rural families. Extends through September 30, 1981 (from 1980) the authority of the Secretary of Agriculture to insure loans for: (1) housing for the rural elderly, handicapped, or moderate income families; and (2) housing and buildings on farms. Authorizes appropriations for fiscal year 1981 for mutual and self-help housing and the Self-Help Fund. Authorizes the Secretary to enter into rental assistance contracts to the extent home ownership subsidies are not otherwise provided. Extends the availability of such subsidies through fiscal year 1981 (from 1980). Authorizes the Secretary to make and insure loans to consumer cooperatives to enable such cooperatives to finance the transfer of membership in the cooperative under terms that low and moderate income persons can reasonably afford. Permits such loans to be conditioned on not depriving members of the cooperative of their membership because they no longer meet the income eligibility requirements. Amends the Housing and Urban Development Act of 1969 to authorize the transfer of Federal surplus real property at the request of the Secretary of Agriculture, as well as the Secretary of Housing and Urban Development, for use in providing housing to low or moderate income families or individuals. Amends the Housing Act of 1949 to make it mandatory that the Secretary of Agriculture provide interest credits on housing loans. Directs the Secretary to assure that adequate replacement housing and relocation assistance are made available if involuntary displacement of families or businesses is unavoidable.
United States · United States Congress · 14 May 1980
Amends the Federal National Mortgage Association Charter Act to authorize the Government National Mortgage Association (Ginnie Mae) to forgive outstanding mortgage payments on specified properties to the extent that such properties were sold at a price higher than the appraised market value.
United States · United States Congress · 14 May 1980
Amends the National Housing Act to authorize the Government National Mortgage Association (Ginnie Mae) to forgive outstanding mortgage payments on specified properties where it is shown that such properties were sold at a price higher than the appraised market value.
United States · United States Congress · 14 May 1980
Individual Housing Account Act of 1980 - Amends the Internal Revenue Code to allow individual taxpayers an income tax deduction from gross income for cash contributions to an individual housing account. Limits the amount of such deduction to $2,500 ($5,000 for married couples) for a taxable year and to $25,000 in all taxable years. Prohibits any deduction which is claimed in a taxable year commencing more than nine years after the first such deduction was claimed. Reduces the amount of the annual deduction by $250 for each $1,000 by which a taxpayer's adjusted gross income exceeds $30,000. Defines "individual housing account" as a trust created for the exclusive benefit of an individual who has never owned his principal residence. Sets forth requirements for the establishment and maintenance of an individual housing account. Grants tax-exempt status upon an individual housing account trust. Excludes from the gross income of a trust beneficiary amounts distributed from a trust which are used exclusively in connection with the purchase of a principal residence for the beneficiary. Sets forth rules for the tax treatment of a trust and distributions from a trust in the case of divorce, improper distributions from a trust, and contributions to a trust in excess of the allowable amount. Prescribes a penalty equal to ten percent of the payments from a trust which are made for purposes other than the purchase of a principal residence. Requires the trustee of an individual housing account to file informational returns with the Secretary of the Treasury as required. Prescribes penalties for failure to file such returns. Treats as ordinary income, rather than capital gain, that portion of the gain from the sale or exchange of a principal residence purchased with funds from an individual housing account, which is attributable to the reduction of the taxpayer's basis in the residence as required by this Act.
United States · United States Congress · 12 May 1980
Emergency Home Purchase Assistance Authority Amendments of 1979 - Amends the National Housing Act to remove the specific dollar limitations on the original principal obligation of a mortgage which may be purchased by the Government National Mortgage Association (GNMA) under the Emergency Home Purchase Assistance Act. Limits such purchasing authority to mortgages in an amount which would make a residence or project eligible for mortgage insurance under the applicable Federal insurance program. Permits such amounts to be raised by up to ten percent in high cost areas determined by the Secretary of Housing and Urban Development. Limits the sales price of a principal residence covered by a mortgage which may be purchased under the emergency authority of the GNMA to 105 percent of such maximum mortgage amount which may be raised an additional 10 percent in high-cost areas. Eliminates the 7 1/2 percent interest rate limitation on mortgage loans eligible for purchase. Permits the Secretary to establish the maximum interest rate at a level consistent with market conditions provided it does not exceed the maximum rate on mortgages eligible for Federal insurance.
United States · United States Congress · 6 May 1980
Housing and Community Development Act of 1980 - Title I: Community and Neighborhood Development and Conservation - Amends the Housing and Community Development Act of 1974 to specify for fiscal years 1981, 1982, and 1983 that no data derived from the 1980 Decennial Census, except those relating to population and poverty, shall be taken into account for purposes of the allocation of funds to metropolitan areas. Prohibits, for fiscal years 1981, 1982, and 1983, any revision of the criteria for establishing a metropolitan area or defining a central city of such an area published after January 1, 1980, to be taken into account for purposes of this title, except in the case of any area or city which would newly qualify as a metropolitan area or a central city of such an area. Specifies that, with respect to grants for State, tribal, and local community development programs, beginning in fiscal year 1981, the population of any unit of general local government which is included in that of an urban county shall be included in the population of such urban county for three program years beginning with the program year in which its population was first so included. Requires any county seeking qualification as an urban county, including any urban county seeking to continue such qualification, to notify each unit of general local government, which is included therein and is eligible to elect to have its population excluded from that of an urban county, of its opportunity to make such an election. Declares that the Congress finds that the Nation's cities, towns, and smaller urban communities face critical social, economic, and environmental problems arising in significant measure from increasing energy costs which have seriously undermined the quality and overall effectiveness of local community and housing development activities. Requires concerted action by Federal, State, and local governments to address the economic and social hardships borne by communities as a consequence of scarce fuel supplies. Allows grants for State and local community development programs to be available for the conservation of the Nation's scarce energy resources, improvement of energy efficiency, and the provision of alternative and renewable energy sources of supply. Allows the applicant, at the discretion of the applicant, when applying for such grants, to include as part of the program summary, formulation, and description as required by such Act, comparable information with respect to the applicant's energy conservation and renewable energy resource needs and objectives. Makes activities necessary to the development of a comprehensive community-wide energy use strategy eligible for assistance under the community development program. Authorizes the appropriation of funds for the purpose of making grants to States and units of local government to help finance community development programs for fiscal years 1981 through 1983. Authorizes funds for fiscal years 1981 through 1983 for the purpose of assisting severely distressed cities that require supplemental grant assistance in order to alleviate excessive deterioration through neighborhood reclamation and community revitalization. Limits amounts of appropriated funds which may be used to aid metropolitan cities, urban counties, and other units of local government within metropolitan areas to meet their basic grant needs. Eliminates hold-harmless entitlements. Declares that funds which are to be reallocated, after a determination by the Secretary that they are not likely to be fully obligated during a community development program period, shall be reallocated first to other units of general local government in the metropolitan area to which the funds were originally allocated, second, in any metropolitan area in the same State, and third, in any other metropolitan area. Requires an applicant for a grant under the community development program to take into account the effect of such activities on the involuntary displacement of low- and moderate-income persons and takes into account appropriate environmental factors. Requires the Secretary of Housing and Urban Development to continue the study on involuntary displacement conducted under the Housing and Community Development Amendments of 1978 and to transmit, not later than March 30, 1981, a report to Congress which shall contain: (1) data collected since the initial report; and (2) further recommendations on minimizing involuntary displacement and alleviating problems caused by such displacement. Amends the Housing Act of 1964 to define the terms "congregate housing" as residential property in which some or all of the dwelling units do not contain kitchen or bathroom facilities, and the term "single-room occupancy housing" to mean residential property in which some or all of the dwelling units do not contain bathroom or kitchen facilities. Extends the rehabilitation loan program under such Act to include congregate housing and single-room occupancy housing, and to authorize appropriations for fiscal years 1980 and 1981 for community and neighborhood development and conservation programs. Authorizes appropriations, through fiscal year 1982, for the neighborhood self-help development programs under the Housing and Community Development Amendments of 1978. Authorizes the Secretary of Housing and Urban Development to reimburse the Veterans Administration for properties transferred to urban homesteading programs. Requires the Secretary, not later than January 1, 1983, to report to the Congress with respect to the adequacy, effectiveness, and equity of the formula used for the allocation of funds for community development programs under the Housing and Community Development Act of 1974, with specific analysis and recommendations concerning the manner in which such formula is or could be affected by the data derived from the 1980 decennial census. Title II: Housing Assistance Programs - Authorizes additional authority for the Secretary of Housing and Urban Development to enter into contracts for annual contributions under the United States Housing Act of 1937, after October 1, 1980, for low-income housing projects. Directs the Secretary to enter into only such new contracts for preliminary loans as are consistent with the number of dwelling units for which contracts for annual contributions may be entered into. Amends the United States Housing Act of 1937 to provide assistance to improve the physical condition of existing public housing projects, and to upgrade the management and operation of such projects, in order to assure that that such projects continue to be available to serve low-income families. Allows the Secretary to make available and contract to make available financial assistance to public housing agencies for the purpose of improving the physical condition of existing low-rent public housing projects and for upgrading the management and operation of such projects to the extent necessary to maintain such physical improvements. Prohibits such assistance from being made unless the Secretary has approved an application from the public housing agency which has been developed in consultation with appropriate local officials and with tenants of such housing projects. Sets forth the information required in such application. Declares that in making such assistance the Secretary shall give preference to public housing agencies which: (1) request assistance for projects having conditions which threaten the health or safety of the tenants or have a significant number of vacant, substandard units; and (2) which have demonstrated a capability of carrying out the activities proposed in the plan submitted and approved by the Secretary. Provides for assistance to any public housing agency in an amount which the Secretary determines is necessary to meet emergency or special purpose needs. Allows the Secretary to make, and contract to make, periodic interest reduction payments on behalf of the owner of a multifamily rental project in order to encourage the construction of new or substantially rehabilitated multifamily rental housing projects designed for families with incomes which do not exceed 150 percent of the median income of the area in which the project is located. Permits such payments to be made for a period of not more than 30 years to mortgagees holding mortgages secured by such project. Requires the Secretary to establish procedures for review of incomes of tenants at intervals of two years. Requires the Secretary, if as a result of such review it is determined that there are tenants in the project whose incomes exceed 150 percent of the median income for the area, to provide that rental payments made by each such tenant shall increase over a three-year period so that at the end of such period each such tenant will be paying the amount of rent which would be charged with respect to the tenant's dwelling unit if payments were not made with respect to the project. Reduces the amounts payable by the Secretary with respect to the project by any amount received by the owner as a result of such increased rental payments. Directs the Secretary, in making such rental assistance, to give a preference to projects which have or will receive financial contributions from a State or local government. Authorizes appropriations through fiscal year 1982 for operating assistance for troubled multifamily housing projects under the Housing and Community Development Amendments of 1978. Amends the National Housing Act to direct the Secretary to utilize amounts credited to the rental housing assistance fund for the sole purpose of carrying out assistance for troubled multifamily housing projects through September 30, 1981. Increases the allowable maximum amount for mortgage assistance payments under the National Housing Act. Allows the Secretary, under the mortgage insurance program, to insure a mortgage involving a principal obligation which exceeds, by not more than ten percent, the maximum limits, if such mortgage relates to a dwelling to be occupied by a physically handicapped person. Allows the Secretary, in order to prevent inflationary conditions and related governmental actions from having a severely disproportionate effect on the housing industry, to make and contract to make periodic assistance payments to mortgagees or other lenders on behalf of homeowners (including the owners of mobile homes). States that not more than 75 percent of such authority may be so utilized. Terminates such authority on September 30, 1981, or at such earlier date as the Secretary may deem appropriate. Sets forth the eligibility requirements for such assistance payments. Specifies that assistance payments to a mortgagee by the Secretary on behalf of a homeowner shall be made only during such time as the homeowner shall continue to occupy the property which secures the mortgage or loan. Permits the Secretary to insure, upon application by the mortgagee, a mortgage executed by a mortgagor who meets the eligibility requirements for assistance payments. Sets forth the eligibility requirements for such insurance. Amends the Housing and Community Development Amendments of 1978 to require a public housing agency or nonprofit corporation applying for assistance to provide congregate services: (1) to elderly residents to consult with the Area Agency on Aging; and (2) to nonelderly handicapped residents to consult with the appropriate agency. Amends the United States Housing Act of 1937 to provide funds to cover the administrative cost of public housing for Indians and Alaskan Natives. Amends the United States Housing Act of 1937 to authorize the Secretary of Housing and Urban Development to enter into contracts for assistance with respect to newly constructed or substantially rehabilitated public housing projects. Requires the installation of a passive or active solar energy system in any such project unless the Secretary determines that such installation would not be cost effective over the estimated life of the system. Title III: Program Amendments and Extensions - Extends through September 30, 1981, the authority of the Secretary of Housing and Urban Development (HUD) to insure mortgages or loans under certain HUD mortgage or loan insurance programs under the National Housing Act and to set interest rates for insured mortgage loans. Extends until October 1, 1981, the authority of the Government National Mortgage Association to enter into new commitments to purchase mortgages under the interim mortgage purchase authority of the National Housing Act, as amended by the Emergency Home Purchase Assistance Act of 1974. Authorizes appropriations for research and demonstration housing projects through fiscal year 1981. Amends the National Housing Act to authorize appropriations to cover losses sustained by the General Insurance Fund. Amends the National Housing Act to specify that neither the holder of a mortgage insured under such Act and covering five or more dwelling units, nor the Secretary of Housing and Urban Development as insurer or holder of such a mortgage insured or formerly insured under such Act, shall be precluded, limited, or delayed in the exercise of any rights or remedies provided in the mortgage or in any contract or agreement governing the maintenance or operation of the property secured by the mortgage, by the provisions of any Federal law, except Federal law enacted expressly in limitation. Amends the National Housing Act to increase the mortgage purchase authority of the Government National Mortgage Association. Increases, by up to 20 percent, the amounts which may be insured under the National Housing Act for multifamily and institutional projects if such increase is necessary to account for the increased cost of the project due to the installation of a solar energy system. Requires a mortgage, in order to be eligible for mortgage insurance under the National Housing Act, to have a period of not less than ten years to run beyond the maturity date of the mortgage. Makes mortgaged property located where concentrated housing, physical development, and public service activities are being or will be carried out in a coordinated manner, pursuant to a locally developed strategy for neighborhood improvement, conservation, or preservation, eligible for rehabilitation and neighborhood conservation housing insurance under the National Housing Act. Authorizes the Secretary, as an alternative to the acquisition of an insured mortgage to avoid foreclosure, to make all or part of the monthly payments due on an insured mortgage of a one to four family residence necessary to avoid default caused by circumstances beyond the mortgagor's control. Stipulates that such payments may be provided for a period of up to 18 months which may be extended for an additional 18 months at the discretion of the Secretary. Requires the Secretary to provide home ownership counseling to persons receiving such assistance. Requires the Secretary of Housing and Urban Development, by March 15 of every other year beginning with calendar year 1981, to report to Congress concerning housing production goals for the current year and set forth general objectives for such activity during the next year. Declares that the land transferred by the city of Springfield, Illinois, to the United States Department of the Interior for the Lincoln Home National Historic Site shall be deemed to have been made in accordance with the provisions of the Housing Act of 1961 and any other law and with any regulations or other requirements in implementation thereof. Amends the Energy Conservation Standards for New Buildings Act of 1976 to extend until August 1, 1982 the deadline for energy conservation standards for new buildings. Amends the Federal National Mortgage Association Charter Act to limit mortgage amounts which may be purchased under certain secondary financing programs. Amends the National Housing Act to provide supplementary loans for multifamily housing projects if meters are purchased or installed in connection with other energy conserving improvements or with a solar energy system or the project meets minimum standards of energy conservation as established by the Secretary of Housing and Urban Development. Increases the mortgage limits in the case of property upon which there is located one to four family dwelling. Increases the limit on loans for mobile homes and lots with respect to credit insurance of financial institutions. Amends the Neighborhood Reinvestment Corporation Act to authorize appropriations through fiscal year 1981 for the Neighborhood Reinvestment Corporation. Requires the Secretary of Housing and Urban Development to study the feasibility of utilizing manufactured and other appropriate types of housing in carrying out housing programs for Indians and Alaskan Natives. Amends the Federal National Mortgage Association Charter Act to authorize the corporation to purchase, service, sell, lend on the security of, and otherwise deal in loans and advances of credit secured by mortgages or other liens against mobile homes. Amends the National Housing Act to direct the Secretary of Housing and Urban Development, in connection with a loan or mortgage insurance program established under such Act, to require that payment of such premiums be made promptly upon their receipt from the borrower. Stipulates that the Secretary may approve payment of such premiums within 12 months of such receipt if the financial institution, mortgagee, or agent thereof pays interest, at a rate specified by the Secretary, to the insurance fund for the period beginning 20 days after receipt from the borrower and ending upon payment of the premiums to the Federal government. Title IV: Planning Assistance - Declares that the following are national policy objectives with respect to housing under the Housing Act of 1954: (1) the conservation and improvement of existing communities; (2) an increase in housing and employment opportunities and choices; and (3) the promotion of orderly and efficient growth and development of communities, regions, and States, taking into consideration the necessity of conserving energy. Declares that it is the purpose of this title to help achieve these objectives by: (1) encouraging the joint efforts of State and local governments and areawide planning organizations in developing State and areawide strategies; and (2) assuring that strategies developed pursuant to this section will lead to implementation activities by States, areawide planning organizations, and local governments. Authorizes the Secretary of Housing and Urban Development to contract to make, and to make, grants approved in accordance with the provisions set forth in this section to: (1) States, for statewide activities; (2) States, for the provision of assistance to metropolitan areawide planning organizations, nonmetropolitan areawide planning organizations, units of general local government, counties, other than urban counties, and any group of adjacent units of general local government having a total population of less than 50,000; (3) area-wide planning organizations; (4) units of general purpose local government; (5) urban and rural counties; (6) Indian tribes; and (7) the Virgin Islands, Guam, the Northern Mariana Islands, American Samoa, and the Trust Territory of the Pacific Islands. Specifies that such grants shall not exceed two-thirds of the estimated cost of the work for which the grant is made. Sets forth the information to be included in the applications for such grants and requires such applications to meet such requirements as the Secretary may prescribe by regulations. Requires such applications to set forth a strategy statement which identifies policies and programs over at least a three-year period which address the major issues and problems of the applicant's jurisdiction. Requires the Secretary to establish, by regulation, criteria for the evaluation and approval of strategy statements and applications for grants and for the awarding of such grants. Requires each State and other entity receiving assistance directly from the Secretary for actions or activities being carried out to submit to the Secretary, each year, a performance report concerning such actions and activities. Requires the Secretary, on an annual basis, to make such reviews and audits as may be necessary or appropriate to determine whether a recipient of funds has carried out actions and activities substantially as described in its application. Allows the Secretary to adjust, reduce, or withdraw grant funds, or take other action as appropriate in accordance with such reviews and audits. Specifies that a strategy statement approved by the Secretary shall remain in effect for a maximum of three years following the date of its approval. Title V: Rural Housing - Authorizes appropriations for fiscal year 1981 for the following rural housing programs administered by the Secretary of Agriculture subject to approval in appropriation Acts: (1) low and moderate income or elderly rental and cooperative housing assistance; (2) insurance of loans for housing and related facilities for domestic farm labor; and (3) advances from the escrow account for taxes, insurance, and other expenses. Authorizes appropriations for: (1) payments on notes and obligations issued by the Secretary for the purpose of making direct loans; (2) loans and grants for repairs and improvements to rural dwellings; (3) financial assistance to provide low- rent housing for domestic farm labor; (4) loans and loan insurance for the purchase of condominiums in rural areas; and (5) sums necessary for the Secretary to administer specified Federal housing program for lower income families. Repeals the ceiling on the aggregate loan principal which may be insured in a single fiscal year for housing and related facilities for domestic farm labor. Limits the amount of contract authority for home ownership subsidies in fiscal years 1980 and 1981. Prohibits such assistance in any fiscal year after 1980. Authorizes appropriations for mutual and self-help housing programs for fiscal year 1981. Requires such amounts appropriated, together with principal collections from loans made under appropriations in any previous fiscal year, to be deposited in the Self-Help Housing Land Development Fund, which shall be available as a revolving fund for making loans under the mutual and self-help housing programs. Allows the Secretary to enter into rental assistance contracts with respect to the fiscal year 1981. Defines the terms "Indian tribe", "rural resident", and "adequate dwelling" for the purposes of Federal rural housing programs. Makes persons who reside in reservations or villages of Indian tribes eligible for assistance under the Federal rural housing program. Applies energy conservation standards to homes acquired and sold by the Farmers' Home Administration. Prohibits the Secretary from approving any rent increases in specified projects which are assisted under such Act unless the project owner is receiving, or has applied for rental assistance payments under the United States Housing Act of 1937. Permits the Secretary to make and insure loans to consumer cooperatives to enable such cooperatives to finance the transfer of membership in the cooperative upon such terms and conditions as low- and moderate-income persons can reasonably afford. Specifies that a loan made to a consumer cooperative for cooperative housing purposes may be made upon condition that persons, admitted as eligible members and tenants of the cooperative, may not subsequently be deprived of their membership or tenancy by reason of their no longer meeting the income eligibility requirements. Amends the Housing and Urban Development Act of 1969 to allow the Administrator of General Services to transfer any Federal surplus real property, within the meaning of such Act, to the Secretary of Housing and Urban Development or the Secretary of Agriculture at either's request for sale or lease by either Secretary at its fair value for use in the provision of housing to be occupied predominantly by families or individuals of low- or moderate-income, assisted under a Federal housing assistance program or under a State or local program. Requires the Secretary of Agriculture to study the legislative and administrative changes which would be required: (1) to conform the procedures of the Farmers Home Administration for reporting budget and accounting information with the reporting principles established by the Presidential Commission on Budget Concepts; (2) to establish procedures to reflect fully in the Federal Budget the budget authority and outlays of the programs administered by the Farmers Home Administration; (3) to remove budget and accounting practices which are inconsistent with the practices for recording debt transactions as provided in the current policy of the Office of Management and Budget; and (4) to simplify the authorities provided in the Housing Act of 1949. Amends the Housing Act of 1949 to permit the Secretary of Agriculture to administer, in any rural area, any mortgage insurance program established pursuant to the National Housing Act to the extent to which the administration of any such program is delegated to the Secretary by the Secretary of Housing and Urban Development. Amends the National Housing Act to authorize the Secretary of Housing and Urban Development to delegate certain mortgage insurance programs to the Secretary of Agriculture in rural areas.
United States · United States Congress · 6 May 1980
Sets forth the rule for the consideration of H.R. 5200 (Fair housing).
United States · United States Congress · 5 May 1980
Amends the Housing Act of 1949 to authorize appropriations for fiscal year 1981 for rural housing programs with specified amounts earmarked for: (1) low and moderate income or elderly rental and cooperative housing assistance; (2) insurance of loans for domestic farm labor housing; and (3) guaranteed loans. Authorizes appropriations for fiscal year 1981 for: (1) loans and grants for rural dwellings repair; (2) financial assistance for low-rent housing for domestic farm labor; and (3) programs of technical and supervisory assistance for low-income individuals and rural families. Extends through September 30, 1981 (from 1980) the authority of the Secretary of Agriculture to insure loans for: (1) housing for the rural elderly, handicapped, or moderate income families; and (2) housing and buildings on farms. Authorizes appropriations for fiscal year 1981 for mutual and self-help housing and for the Self-Help Fund. Authorizes the Secretary to enter into rental assistance contracts to the extent home ownership subsidies are not otherwise provided. Extends the availability of such subsidies through fiscal year 1981 (from 1980). Requires project owners to apply for such rental assistance before the Secretary may approve a rent increase which will cause tenants to pay more than 25 percent of their income for rent. Authorizes the Secretary to make and insure loans to consumer cooperatives to enable such cooperatives to finance the transfer of membership in the cooperative under terms that low and moderate income persons can reasonably afford. Permits such loans to be conditioned on not depriving members of the cooperative of their membership because they no longer meet the income eligibility requirements. Amends the Housing and Urban Development Act of 1969 to authorize the transfer of Federal surplus real property at the request of the Secretary of Agriculture, as well as the Secretary of Housing and Urban Development, for use in providing housing to low or moderate income families or individuals. Amends the Housing Act of 1949 to make it mandatory that the Secretary of Agriculture provide interest credits on housing loans. Directs the Secretary to assure that adequate replacement housing and relocation assistance are made available if involuntary displacement of families and businesses is unavoidable.
United States · United States Congress · 2 May 1980
Veterans' Disability Compensation and Survivors' Benefits Amendments of 1980 - Title I: Veterans' Disability Compensation Benefits - Increases the rates of veterans' compensation for: (1) wartime disability compensation; (2) additional compensation for dependents; and (3) clothing allowances paid to certain disabled veterans. Title II: Survivors' Dependency and Indemnity Compensation Benefits - Increases the rates of veterans' dependency and indemnity compensation for: (1) a surviving spouse; (2) surviving children; and (3) supplemental children's benefits. Title III: Miscellaneous Provisions - Extends the authority for the Veterans' Administration regional office in the Republic of the Philippines until September 30, 1985. Sets forth procedures for: (1) retroactive payments for additional children entitled to dependency and indemnity compensation; and (2) reducing payments to a dependent child who has attained the age of 18 and is attending an educational institution, and whose parent is receiving compensation payments as a surviving spouse. Provides for pension payments to a hospitalized veteran having neither spouse nor child if such veteran is readmitted within six months of a period of care. Title IV: Effective Date - States that the amendments made by this Act shall take effect on October 1, 1980.
United States · United States Congress · 2 May 1980
Extends specified farm housing programs of the Farmers Home Administration under the Housing Act of 1949, through September 30, 1982. Authorizes appropriations for fiscal year 1982 for: (1) the issuance of notes and obligations for loan funds by the Farmers Home Administration; (2) loans and grants for repairs or improvements of rural dwellings and financial assistance to provide low-rent housing for domestic farm labor; (3) grants for the development of technical and supervisory assistance programs in rural areas with Federal, State, and local housing programs for low-income families; (4) loans and grants for mutual and self-help housing programs in rural areas and small towns; and (5) the Self-Help Housing Land Development Fund. Extends through fiscal year 1982 the authority of the Secretary of Agriculture to insure loans which provide rental and cooperative housing for the elderly or others of low-and moderate-income and to insure and make loans for housing and buildings on farms owned by low- or moderate-income families.
United States · United States Congress · 1 May 1980
Amends the Housing and Community Development Act of 1974 to redefine the term mobile home to mean a structure, transportable in one or more sections, which is more than eight body feet in width, is more than 40 body feet in length in the traveling mode, or contains 400 or more square feet in interior space when erected on site. Amends the National Housing Act, the United States Housing Act of 1937, and the Housing and Community Development Act of 1974 to change the classification of mobile home to manufactured housing.
United States · United States Congress · 1 May 1980
Amends the Housing and Community Development Act of 1974 to redefine the term mobile home to mean a structure, transportable in one or more sections, which is more than eight body feet in width, is more than 40 body feet in length in the traveling mode, or contains 400 or more square feet in interior space when erected on site. Amends the National Housing Act, the United States Housing Act of 1937, and the Housing and Community Development Act of 1974 to change the classification of mobile home to manufactured housing.
United States · United States Congress · 30 April 1980
Amends the Home Owners' Loan Act of 1933 to require Federal savings and loan associations to offer a 30 year standard mortgage with an interest rate fixed at the same rate as a renegotiable rate mortgage, if such a renegotiable rate mortgage is offered.
United States · United States Congress · 28 April 1980
Assisted Housing Amendments Act of 1980 - Amends the United States Housing Act of 1937 to set forth the amount by which the limitation on aggregate contractual contributions for low-income housing projects shall be increased on October 1, 1980. Terminates, as of October 1, 1980, the present requirement that the Secretary of Housing and Urban Development, in utilizing such additional authority to enter into such contracts, administer low-income housing programs to provide assistance for new, substantially rehabilitated, and existing units, in accordance with the goals of local governments as reflected in specified housing assistance plans. Directs the Secretary, in utilizing such additional authority on and after October 1, 1980, to accommodate, to the maximum extent possible, desires of local governments regarding the allocation of assistance among new, substantially rehabilitated, and existing housing units. Directs the Secretary, in so doing, to limit, to the maximum extent possible, the budget authority allocated to local areas to the amount which would result if, on a nationwide basis taking account of local variations, 30 percent of the units to be assisted under such Act for public housing development or lower-income housing assistance with such additional authority were to be for new construction or substantial rehabilitation. Requires that the Secretary seek to ensure that, consistent with available funding limitations, at least 30 percent of the units shall be: (1) either newly constructed or substantially rehabilitated housing units assisted under such Act (other than under the existing low-income housing assistance program or the multifamily rental production program established by this Act); or (2) newly constructed or substantially rehabilitated housing units under the low-income housing assistance program which are financed through specified means. Limits the total budget authority associated with such additional contract authority. Sets aside a specified amount of such additional contract authority for units assisted under such Act other than under the existing low-income housing assistance program or the multifamily rental production program established by this Act. Establishes a multifamily rental production program. Authorizes the Secretary to provide annual contributions in the form of interest reduction payments pursuant to contracts with owners or prospective owners of new or substantially rehabilitated rental housing projects involving five or more dwelling units. Permits such interest reduction payments to be made with respect to projects subject to mortgages insured under the National Housing Act. Requires that such payments be made on behalf of the owner directly to a mortgagee. Provides that interest be subsidized down to a rate determined by the Secretary, guided by the objective that the average of all such lower rates shall be six and one-half percent per year for the first ten years, with lower or higher rates depending on factors in the local area or involving the specific project. Requires that interest rate differential for a project not insured under the National Housing Act not exceed the applicable rate if the mortgage were so insured. Provides that, commencing with the eleventh year of such payments for a project, the amount of the annual payment shall be phased out in accordance with a schedule determined at the time the contract was entered into or altered by mutual agreement of the Secretary and the owner. Limits the allowable income at the time of initial occupancy of a household occupying a unit in such project to 120 percent of the area median income, during the period when interest reduction payments are being made. Authorizes the Secretary to establish higher or lower income ceilings, if necessary, because of prevailing construction cost levels, unusually high or low median household incomes, or other factors. Requires that, during the interest reduction payment period, the approval of the Secretary be obtained for: (1) the initial rent schedule and any rent increases; (2) prepayment or refinancing of the mortgage; and (3) sale or other disposition of such project. Prohibits conversion of such projects to other than rental uses for a period of 30 years following the initial occupancy without the approval of the Secretary. Directs the Secretary to ensure that the selection of sites for such assisted projects shall avoid the displacement of lower income persons. Permits a project financed by a State housing finance or State development agency to receive interest reduction assistance if at least 20 percent, but not more than 30 percent, of the project units are set aside for occupancy by families assisted under the low-income housing assistance program. Permits a project financed by a local government agency to receive such assistance if the Secretary is satisfied that: (1) at least 20 percent of the units in any project being financed by such agency will be reserved for lower income families at the time they initially occupy the unit; and (2) at least six percent of the units in such project will be reserved for very low income families at the time they initially occupy the unit. Directs the Secretary, in allocating interest reduction assistance, to give preference to projects located in tight rental markets and to projects promoting urban revitalization. Provides that specified provisions of the Housing and Community Development Act of 1974 relating to local housing assistance plans and allocation of housing funds shall not be applicable to projects receiving such multifamily rental production interest reduction assistance, except to the extent that provisions relating to the low-income housing assistance program would otherwise apply. Limits the amount of contracts for annual contributions under the multifamily rental production program to such amounts as are provided in appropriations Act. Authorizes appropriations for sums necessary to carry out such program, including the making of interest reduction payments under contracts entered into by the Secretary. Limits the budget authority obligated under such contracts to a specified amount. Provides that such authorization of appropriations shall apply only if: (1) the additional authority to enter into contracts for annual contributions provided on October 1, 1980, for low-income housing assistance and for public housing does not exceed a specified amount; and (2) the budget authority associated with such additional authority does not exceed a specified amount.
United States · United States Congress · 21 April 1980
Comprehensive Housing Development Act of 1980 - Amends the National Housing Act to increase the allowable maximum amount for mortgage assistance payments under such Act. Authorizes appropriations for such mortgage assistance payments through October 1, 1981. Authorizes the Secretary of Housing and Urban Development, under the mortgage insurance program, to insure a mortgage involving a principal obligation which exceeds, by up to ten percent, the maximum limits specified under the Act, if such mortgage relates to a dwelling to be occupied by a physically handicapped person and the additional principal reflects the cost of making the dwelling accessible to such person. Allows the Secretary, in order to prevent inflationary conditions and related governmental actions from having a severely disproportionate effect on the housing industry, to make and contract to make periodic assistance payments to mortgagees or other lenders on behalf of homeowners (including the owners of mobile homes). Terminates such authority on September 30, 1981, or at such earlier date as the Secretary may deem appropriate. Specifies that such payments may be made only on behalf of a homeowner who satisfies such eligibility requirements as may be prescribed by the Secretary. Requires a homeowner to continue to occupy the property which secures the mortgage or loan in order to receive such assistance payments. Sets forth the formula for determining the amount of such assistance payments. Allows the Secretary to include in the payment to the mortgagee or other lender such amount as the Secretary deems appropriate to reimburse the mortgagee or lender for its reasonable and necessary expenses in handling the mortgage or loan. Limits assistance payments for mobile homes to no more than 20 percent of the total number of units for which assistance is approved. Allows the Secretary, upon application by the mortgagee, to insure a mortgagor who meets the eligibility requirements for assistance payments as set forth by the Secretary. Sets forth the eligibility requirements for such insurance. Allows the Secretary to provide for graduated mortgage assistance payments, and to insure mortgages with varying rates of amortization, for not in excess of 100,000 mortgages. Extends until October 1, 1981, the authority of the Government National Mortgage Association to enter into new commitments to purchase mortgages under the interim mortgage purchase authority of the National Housing Act, as amended by the Emergency Home Purchase Assistance Act of 1974. Amends the National Housing Act to authorize appropriations to cover losses sustained by the General Insurance Fund. Allows the Secretary to make, and contract to make, periodic interest reduction payments on behalf of the owner of a multifamily rental project. Allows such payments to be made for a period of not more than 30 years to mortgagees holding mortgages secured by such project. Sets forth the formula for determining the amount of such payments. Sets forth the eligibility requirements which must be met in order to receive such payments. Requires the Secretary to provide that such payments are made only with respect to that part of the mortgage concerning the portion of the project which is used for residential purposes and only for the benefit of the families residing in such projects. Specifies that such payments may be made only to a project located within the jurisdictional boundaries of a unit of general local government which has made substantial progress in meeting its annual goals for housing for lower- income persons as specified in its housing assistance plan submitted pursuant to the Housing and Community Development Act of 1974. Requires the Secretary, in making such assistance, to give a preference to projects which have or will receive financial contributions from a State or local government which will result in lower rental charges to the families residing therein. Amends the Housing and Community Development Act of 1974 to require an applicant for grants for State and local community development programs to submit a housing assistance plan which: (1) accurately surveys the condition of housing stock in the community designed for persons who have incomes which do not exceed 150 percent of the median income for the area; (2) assesses the housing assistance needs of such person; (3) specifies a realistic goal of the number of rental dwelling units which will be provided such persons as a result of such program; and (4) indicates the general locations of such dwelling units.
United States · United States Congress · 16 April 1980
Extends specified farm housing programs of the Farmers Home Administration under the Housing Act of 1949 through September 30, 1982. Authorizes appropriations for fiscal year 1982 for: (1) the issuance of notes and obligations for loan funds by the Farmers Home Administration; (2) loans and grants for repairs or improvements of rural dwellings and financial assistance to provide low-rent housing for domestic farm labor; (3) grants for the development of technical and supervisory assistance programs in rural areas with Federal, State, and local housing programs for low-income families; (4) loans and grants for mutual and self-help housing programs in rural areas and small towns; and (5) the Self-Help Housing Land Development Fund. Extends through fiscal year 1982 the authority of the Secretary of Agriculture to insure loans which provide rental and cooperative housing for the elderly or others of low-and moderate-income and to insure and make loans for housing and buildings on farms owned by low-or moderate-income families.
United States · United States Congress · 15 April 1980
Amends the National Housing Act to require the Secretary of Housing and Urban Development to require that payments of loan or mortgage insurance premium charges by a financial institution, other mortgagee, or agent thereof to the Federal government, made in connection with specified loan or mortgage insurance programs under such Act, be made promptly upon their receipt from the borrower. Allows the Secretary to approve payment of such premiums on an annual basis if the financial institution, mortgagee, or agent thereof pays interest, at a rate specified by the Secretary, to the insurance fund for the period beginning 20 days after receipt from the borrower and ending upon payment of the premiums to the Federal government.