Housing

A bill to amend part A of title IV of the Social Security Act to reduce the need for emergency assistance payments to provide temporary housing for destitute families and homeless AFDC families, and the expense of such payments, by authorizing grants to States for the construction or rehabilitation of permanent housing that such families can afford with their regular AFDC payments.

United States · United States Congress · 17 October 1986

Amends part A (Aid to Families with Dependent Children) of title IV of the Social Security Act to authorize the Secretary of Health and Human Services to make grants to States for the construction and rehabilitation of permanent housing for rental to AFDC recipients who would otherwise require AFDC emergency assistance in the form of temporary housing. Requires that such grants be used to provide permanent housing which is: (1) owned by the State, an instrumentality of the State, or a nonprofit organization; (2) available to families who have been unable to find decent nontemporary housing at rents that can be paid with AFDC aid for shelter; and (3) located in jurisdictions experiencing a critical shortage of such housing. Requires that: (1) the costs of providing permanent housing be lower than costs which would be incurred if, instead, the State made AFDC emergency assistance payments providing temporary housing; and (2) the most costly temporary housing be retired from use in the emergency assistance program as permanent housing becomes available for occupancy, unless temporary housing is demonstrably needed. Sets the State contribution to the cost of constructing or rehabilitating such housing at at least the current State AFDC share increased by ten percent.

A bill entitled the "Logan Relief Act".

United States · United States Congress · 16 October 1986

Authorizes the purchase of homes and the payment of relocation assistance for homes of the Logan section of Philadelphia, Pennsylvania, deemed to be dangerous or uninhabitable. Authorizes appropriations.

Urgent Relief for the Homeless Act

United States · United States Congress · 15 October 1986

Urgent Relief for the Homeless Act - Establishes the Interagency Office on Homelessness in the Department of Health and Human Services. Directs the Secretary of Health and Human Services, through such Office, to: (1) use underutilized Federal property as emergency shelters for the homeless; (2) provide grants to emergency shelter providers; (3) monitor and coordinate Federal programs for the homeless; and (4) report annually to the Congress regarding Federal programs for the homeless. Authorizes FY 1987 appropriations for: (1) such Office; and (2) the emergency food and shelter program.

Housing Income Verification Act of 1986

United States · United States Congress · 7 October 1986

Housing Income Verification Act of 1986 - Authorizes the Secretary of Housing and Urban Development to require Department of Housing and Urban Development (HUD) program applicants or participants to: (1) disclose their social security or employer identification numbers; and (2) consent to wage information verification. Amends the Social Security Act to provide HUD with access to State employment records. Requires State administering agencies to independently verify such information before terminating or reducing any housing benefits. Establishes criminal and civil penalties for misuse of such information.

Rural Rental Housing Preservation Act of 1986

United States · United States Congress · 2 October 1986

Rural Rental Housing Preservation Act of 1986 - Amends the Housing Act of 1949 to disqualify from receiving a subsequent loan any person whose prepayment of a rural rental housing loan causes substantial resident displacement. Prohibits the Secretary of Agriculture from accepting prepayments on such loans made or insured prior to December 21, 1979, unless appropriate alternative housing is available. Provides financial assistance to displaced residents.

A bill to amend the National Housing Act to provide for the eligibility of certain property for single family mortgage insurance.

United States · United States Congress · 26 September 1986

Amends the National Housing Act to permit the Federal Housing Administration to provide single family mortgage insurance on certain leased land within the Allegany Reservation of the Seneca Nation of New York Indians.

Judith Y. Brachman, of Ohio, to be an Assistant Secretary of Housing and Urban Development, vice Antonio Monroig, resigned.

United States · United States Senate · 25 September 1986

Permanent Housing for Homeless Families Act of 1986

United States · United States Congress · 25 September 1986

Permanent Housing for Homeless Families Act of 1986 - Amends part A (Aid to Families with Dependent Children) of title IV of the Social Security Act to authorize the Secretary of Health and Human Services to make grants to States for the construction and rehabilitation of permanent housing for rental to AFDC recipients who would otherwise require AFDC emergency assistance in the form of temporary housing. Requires that such grants be used to provide permanent housing which is: (1) owned by the State, an instrumentality of the State, or a nonprofit organization; (2) available to families who have been unable to find decent nontemporary housing at rents that can be paid with AFDC aid for shelter; and (3) located in jurisdictions experiencing a critical shortage of such housing. Requires that: (1) the costs of providing permanent housing be lower than costs which would be incurred if, instead, the State made AFDC emergency assistance payments providing temporary housing; and (2) the most costly temporary housing be retired from use in the emergency assistance program as permanent housing becomes available for occupancy, unless temporary housing is demonstrably needed. Sets the State contribution to the cost of constructing or rehabilitating such housing at at least the current State AFDC share increased by ten percent.

Banking Stability, Housing Improvement, and Consumer Protection Act of 1986

United States · United States Congress · 23 September 1986

Banking Stability, Housing Improvement, and Consumer Protection Act of 1986 - Title I: Recapitalization of FSLIC - Federal Savings and Loan Insurance Corporation Recapitalization Act of 1986 - Amends the Federal Home Loan Bank Act to require the Federal Home Loan Bank Board (FHLBB) to charter the Financing Corporation. Requires the Corporation to be under the management of a Directorate consisting of the Director of the Office of Finance of the Federal Home Loan Banks (Banks) and two other members selected by the Chairman of the Board from presidents of the Banks. Empowers the Corporation to borrow, to issue stock to Banks, to invest in Federal Savings and Loan Insurance Corporation (FSLIC) securities, to issue obligations the proceeds of which shall be invested in the FSLIC, and to make semiannual assessments of insured institutions to provide for the issuance costs, interest, and custodian fees of such obligations. Limits the aggregate amount of such obligations that may be outstanding at any time. Provides that such obligations shall be treated by the Securities and Exchange Commission as exempt securities, shall be tax-exempt (excluding interest), and shall not be guaranteed by the FSLIC, the Banks, or the United States. Requires each Bank to invest in nonvoting capital stock of the Corporation. Limits the cumulative investment of all Banks to $3,000,000,000 and of each Bank to the sum of specified required reserves plus undivided profits, as prescribed by this Act. Sets forth a formula for determining the prorated portion of funds to be invested by each Bank. Restricts dividend payments by a Bank for which other Banks must invest its required amount. Limits the use and disposition of Corporation assets not invested in the FSLIC. Prohibits the Corporation from making any net new borrowing after December 31, 1996. Creates a Federal Savings and Loan Insurance Corporation Industry Advisory Committee. Directs the Committee to: (1) review, and confer with the FHLBB regarding, quarterly reports and budgets on the activities, receipts, and expenditures of the FSLIC; and (2) submit an annual report to specified congressional committee chairmen on its activities and its reports and recommendations to the FHLBB and the FSLIC. Terminates the Committee and the Corporation as soon as practicable after the earlier of: (1) the date by which all FSLIC stock purchased by the Corporation has been retired; or (2) December 31, 2026. Amends the Government Corporations Control Act to establish the Corporation as a mixed ownership Government corporation. Amends the National Housing Act to authorize the FSLIC to issue nonredeemable capital certificates and redeemable nonvoting capital stock which shall be sold only to the Corporation, shall pay no dividends, and the proceeds of which shall be considered part of the FSLIC's primary reserve. Directs the FSLIC to establish and maintain an equity return account until all such certificates and stock have been paid off and retired. Sets forth forumulae for calculating the FSLIC's annual contributions to such account beginning in 1997 based on the fraction of the aggregate amount of all accounts of all insured members equal to FSLIC reserves. Authorizes the FSLIC to invest amounts accumulated in such account as it determines appropriate. Directs the FSLIC to use only amounts accumulated in such account to payoff and retire its stock. Provides that certain statutorily prescribed suspensions or reductions of FSLIC premiums based on the FSLIC's primary and secondary reserve levels shall not apply as long as shares of its capital stock are outstanding. Reduces the total premiums paid by an insured institution to the FSLIC by the amount of any assessments paid to the Corporation during the same period. Amends the Federal Home Loan Bank Act to allow the FHLBB to authorize a Bank to declare and pay dividends out of its undivided profits or legal reserves, only after such Bank has reduced all other reserves to zero, if: (1) the Bank incurs a charge-off or expense related to its investment in the Corporation; and (2) the FHLBB determines that there is an extraordinary need for such Bank's member institutions to receive dividends. Directs the FSLIC to: (1) complete quarterly reports and budgets explaining its activities, receipts, and expenditures, including the activities, receipts, and expenditures of the Federal Asset Disposition Association, for the current and preceding quarters; and (2) submit to specified congressional committee chairmen semiannual reports and budgets on its activities, receipts, and expenditures for the preceding semiannual period. Title II: Financial Institutions Emergency Acquisitions - Financial Institutions Emergency Acquisitions Amendments of 1986 - Amends the Federal Deposit Insurance Act to revise provisions governing interstate acquisitions of troubled banks involving Federal Deposit Insurance Corporation (FDIC) financial assistance. Requires the appropriate Federal banking agency to notify and consult with the FDIC about pending action, and notify the FDIC of final action, with respect to any proposed acquisition by an out-of-State bank or holding company of an insured bank in danger of closing that may qualify for interstate acquisition. Authorizes the FDIC to arrange the acquisition of a closed bank which was one of the ten largest insured banks in the State. Directs the FDIC to provide the State bank supervisor with all relevant information concerning all out-of-State banks or holding companies making acquisition offers. Authorizes interstate acquisitions of: (1) an insured bank in danger of closing which has total assets of $500,000,000 or is one of the ten largest insured banks in the State; or (2) two or more affiliated banks in danger of closing if the aggregate total assets of such banks exceed $500,000,000 and equal or exceed 33 percent of the aggregate total assets of all affiliated insured banks, as well as any other affiliated bank or the controlling holding company. Continues existing acquisition eligibility of an insured bank which receives FDIC assistance after April 15, 1986, until no assistance remains outstanding. Authorizes any out-of-State bank which makes an emergency acquisition of an insured bank in any State to acquire other insured banks in such State to the same extent as authorized for any bank holding company whose insured bank subsidiaries' operations are principally conducted in such State. Prohibits any holding company which makes such an acquisition from being required under State law to divest any other bank or from being prevented from acquiring any other bank or holding company by reason of such acquistion. Requires the FDIC to submit an annual report to specified congressional committees on such emergency interstate acquisitions. Amends the Bank Holding Company Act of 1956 to impose similar restrictions on emergency interstate acquisitions of troubled banks not assisted by the FDIC. Authorizes the Federal Reserve Board to: (1) dispense with notice and hearing requirements for the acquisition of a bank in danger of closing; and (2) reduce the post-approval waiting period to five days or eliminate such period if necessary to prevent the probable failure of the bank. Directs the Board to submit an annual report to specified congressional committees on applications for such emergency acquisitions. Amends the Garn-St Germain Depository Institutions Act of 1982 to extend until July 15, 1989, the Deposit Insurance Flexibility Act. Terminates this title and the Deposit Insurance Flexibility Act effective July 15, 1989. Title III: Expedited Funds Availability - Expedited Funds Availability Act - Requires the Board of Governors of the Federal Reserve System to begin to develop an expedited funds availability system which shall be implemented no later than three years and 90 days after enactment of this title. Provides that such system shall require that funds deposited in an account of a depository institution by local and in-state checks be available for withdrawal the business day after deposit and that funds deposited by all other checks be available on the fourth business day after deposit. Lists considerations for the Board in establishing such system which include providing for the automated return of unpaid checks, a uniform endorsement standard, and direct notification of nonpayment. Directs the Board to report to the Congress every six months on its actions to implement such system and within two years after enactment of this title on the effects of temporary schedules for fund availability established under this title. Establishes specific time limits for funds availability for various types of deposits. Provides for next day availability for cash, the cash portion of a deposit, wire transfers, checks of $100 or less, checks drawn on in-state branches of the receiving depository institution or branches located in the same check processing region, U.S. Treasury checks endorsed only by the payee, State and local treasury checks endorsed only by the payee and deposited in special envelopes at manned branches, cashier's checks, certified checks, teller's checks, and depository checks endorsed only by the payee and deposited in special envelopes at manned branches. Sets forth a schedule, to be terminated upon implementation of the expedited funds availability system, providing that: (1) checks drawn on local originating depository institutions shall be available on the third business day after deposit during the one-year period beginning 90 days after enactment of this title and on the second business day after deposit during the subsequent two years; and (2) checks drawn on nonlocal originating depository institutions shall be available for withdrawal on the seventh business day after deposit. Authorizes the Board to make certain adjustments in such time limits. Sets forth time limit exceptions and special time limits which shall apply: (1) to new accounts, deposits by checks in excess of $5,000, checks redeposited after being returned, repeated overdrafts, and foreign checks; and (2) under specified emergency conditions. Authorizes the Board to suspend the applicability of this Act to any classification of checks directly associated with an unacceptable level of losses due to check-related fraud. Requires the Board to transmit a report justifying any suspension to specified congressional committees. Provides that the expedited funds availability schedules shall not apply if the receiving depository institution doubts the collectability of funds for a check, believes that the drawer or drawee of the check has or is about to become subject to bankruptcy or receivership, or believes that a situation involving fraud or kiting exists. Directs the institution to provide notice to the drawer and drawee in such situations. Prohibits any depository institution from freezing funds in an account because other funds deposited in such account by check are not yet available for withdrawal pursuant to this title. Directs each institution to inform employees of, and ensure employee compliance with, the requirements of this title. Provides that State laws providing for shorter time periods for the availability of funds deposited in a State-chartered institution shall supersede this title and shall apply to all federally insured depository institutions located in such State. Requires interest to accrue on funds deposited in an interest-bearing account of an institution beginning on the business day on which the institution receives provisional credit for such funds. Requires a depository institution to meet specified disclosure requirements concerning its general policy on the availability for withdrawal of funds deposited by check. Authorizes the Board to publish model disclosure forms and clauses for common transactions. Directs the Board to establish a Payments System Advisory Council to advise and consult with the Board in the exercise of the Board's functions under this title. Declares that this title supersedes State law, including the Uniform Commercial Code, except as specified earlier. Sets forth provisions governing: (1) the administrative enforcement of this Act; and (2) the civil liability of institutions that fail to comply with this title. Title IV: Housing and Community Development - Housing Act of 1986 - Subtitle A: Program Extensions and Amendments - Amends the National Housing Act of 1964, the Housing Act of 1949, and the National Flood Insurance Act of 1968 to extend Federal housing administration mortgage insurance programs, rehabilitation loan authority, rural housing authorities, and the flood and crime insurance programs through FY 1987. Amends the National Housing Act with respect to mortgage insurance and secondary mortgage market programs. Amends the Housing and Community Development Act of 1974 with respect to community and neighborhood development and conservation programs. Subtitle B: Housing Assistance - Amends the United States Housing Act of 1937 with respect to lower income housing projects. Amends the Housing and Community Development Amendments of 1978 with respect to multifamily housing management and preservation. Amends the Housing Act of 1959 with respect to housing for the elderly and the handicapped. Subtitle C: Rural Housing - Amends the Housing Act of 1949 with respect to rural housing, especially mortgage credit. Subtitle D: Shelter Assistance for the Homeless and Displaced - Establishes in the Department of Housing and Urban Development (HUD) the National Emergency Food and Shelter Board, which shall continue the emergency food and shelter program established in the Department of Housing and Urban Development-Independent Agencies Appropriations Act, 1986. Subtitle E: Nehemiah Housing Opportunity Grants - Authorizes the Secretary of Housing and Urban Development (the Secretary) to make grants to nonprofit organizations to carry out Nehemiah Housing Opportunity programs. Specifies requirements and terms of such grants. Establishes in the Treasury the Nehemiah Housing Opportunity Fund to provide for such grants. Subtitle F: Preventing Fraud and Abuse in Department of Housing and Urban Development Programs - Authorizes the Secretary to require applicants or participants in HUD financial assistance programs to disclose their social security account numbers or employer identification numbers. Subtitle G: Enterprise Zone Development - Provides for the designation of enterprise zones for HUD development programs. Subtitle H: Assisted Housing Liability Improvements - Amends the United States Housing Act of 1937 with respect to assisted housing. Directs the Secretary to permit public housing agencies to carry out their activities without prior review or approval.

A joint resolution to provide for the temporary extension of certain programs relating to housing and community development, and for other purposes.

United States · United States Congress · 23 September 1986

Amends the National Housing Act to extend authority through October 13, 1986, for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) homeownership for lower income families including mortgage insurance authority and housing stimulus authority; (5) mortgage co-insurance, including rental rehabilitation and development projects; (6) graduated payment and indexed mortgage insurance; (7) the demonstration mortgage reinsurance program; (8) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (9) mortgage insurance for land development; and (10) mortgage insurance for medical and dental group practice facilities. Amends the National Housing Act to extend insured mortgage commitment limitations through FY 1987. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through October 13, 1986. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through October 13, 1986, for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; (2) rural communities with 10,000 - 20,000 population to participate in rural housing programs; and (3) mutual and self-help housing grant and loan authority. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones, through October 13, 1986. Amends the National Housing Act to extend authority for the national crime insurance program and for existing contracts through October 13, 1986. Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through October 13, 1986. Amends the Housing and Urban-Rural Recovery Act of 1983 to extend the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families through October 13, 1986. Extends the Home Mortgage Disclosure Act through October 13, 1986.

A bill to amend the National Housing Act to provide for the eligibility of certain property for single family mortgage insurance.

United States · United States Congress · 19 September 1986

Amends the National Housing Act to permit the Federal Housing Administration to provide single family mortgage insurance on certain leased land within the Allegany Reservation of the Seneca Nation of New York Indians.

Banking Stability, Housing Improvement, and Consumer Protection Act of 1986

United States · United States Congress · 19 September 1986

Banking Stability, Housing Improvement, and Consumer Protection Act of 1986 - Title II: Recapitalization of FSLIC - Federal Savings and Loan Insurance Corporation Recapitalization Act of 1986 - Amends the Federal Home Loan Bank Act to require the Federal Home Loan Bank Board (FHLBB) to charter the Financing Corporation. Requires the Corporation to be under the management of a Directorate consisting of the Director of the Office of Finance of the Federal Home Loan Banks (Banks) and two other members selected by the Chairman of the Board from presidents of the Banks. Empowers the Corporation to borrow, to issue stock to Banks, to invest in Federal Savings and Loan Insurance Corporation (FSLIC) securities, to issue obligations the proceeds of which shall be invested in the FSLIC, and to make semiannual assessments of insured institutions to provide for the issuance costs, interest, and custodian fees of such obligations. Limits the aggregate amount of such obligations that may be outstanding at any time. Provides that such obligations shall be treated by the Securities and Exchange Commission as exempt securities, shall be tax-exempt (excluding interest), and shall not be guaranteed by the FSLIC, the Banks, or the United States. Requires each Bank to invest in nonvoting capital stock of the Corporation. Limits the cumulative investment of all Banks to $3,000,000,000 and of each Bank to the sum of specified required reserves plus undivided profits, as prescribed by this Act. Sets forth a formula for determining the prorated portion of funds to be invested by each Bank. Restricts dividend payments by a Bank for which other Banks must invest its required amount. Limits the use and disposition of Corporation assets not invested in the FSLIC. Prohibits the Corporation from making any net new borrowing after December 31, 1986. Creates a Federal Savings and Loan Insurance Corporation Industry Advisory Committee. Directs the Committee to: (1) review and confer with the FHLBB regarding, quarterly reports and budgets on the activities, receipts, and expenditures of the FSLIC; and (2) submit an annual report to specified congressional committee chairman on its activities and its reports and recommendations to the FHLBB and the FSLIC. Terminates the Committee and the Corporation as soon as practicable after the earlier of: (1) the date by which all FSLIC stock purchased by the Corporation has been retired; or (2) December 31, 2026. Amends the Government Corporations Control Act to establish the Corporation as a mixed ownership Government corporation. Amends the National Housing Act to authorize the FSLIC to issue nonredeemable capital certificates and redeemable nonvoting capital stock which shall be sold only to the Corporation, shall pay no dividends, and the proceeds of which shall be considered part of the FSLIC's primary reserve. Directs the FSLIC to establish and maintain an equity return account until all such certificates and stock have been paid off and retired. Sets forth forumulae for calculating the FSLIC's annual contributions to such account beginning in 1997 based on the fraction of the aggregate amount of all accounts of all insured members equal to FSLIC reserves. Authorizes the FSLIC to invest amounts accumulated in such account as it determines appropriate. Directs the FSLIC to use only amounts accumulated in such account to payoff and retire its stock. Provides that certain statutorily prescribed suspensions or reductions of FSLIC premiums based on the FSLIC's primary and secondary reserve levels shall not apply as long as shares of its capital stock are outstanding. Reduces the total premiums paid by an insured institution to the FSLIC by the amount of any assessments paid to the Corporation during the same period. Amends the Federal Home Loan Bank Act to allow the FHLBB to authorize a Bank to declare and pay dividends out of its undivided profits or legal reserves, only after such Bank has reduced all other reserves to zero, if: (1) the Bank incurs a charge-off or expense related to its investment in the Corporation; and (2) the FHLBB determines that there is an extraordinary need for such Bank's member institutions to receive dividends. Directs the FSLIC to: (1) complete quarterly reports and budgets explaining its activities, receipts, and expenditures, including the activities, receipts, and expenditures of the Federal Asset Disposition Association, for the current and preceding quarters; and (2) submit to specified congressional committee chairmen semiannual reports and budgets on its activities, receipts, and expenditures for the preceding semiannual period. Title III: Financial Institutions Emergency Acquisitions - Financial Institutions Emergency Acquisitions Amendments of 1986 - Amends the Federal Deposit Insurance Act to revise provisions governing interstate acquisitions of troubled banks involving Federal Deposit Insurance Corporation (FDIC) financial assistance. Requires the appropriate Federal banking agency to notify and consult with the FDIC about pending action, and notify the FDIC of final action, with respect to any proposed acquisition by an out-of-State bank or holding company of an insured bank in danger of closing that may qualify for interstate acquisition. Authorizes the FDIC to arrange the acquisition of a closed bank which was one of the ten largest insured banks in the State. Directs the FDIC to provide the State bank supervisor with all relevant information concerning all out-of-State banks or holding companies making acquisition offers. Authorizes interstate acquisitions of: (1) an insured bank in danger of closing which has total assets of $500,000,000 or is one of the ten largest insured banks in the State; or (2) two or more affiliated banks in danger of closing if the aggregate total assets of such banks exceed $500,000,000 and equal or exceed 33 percent of the aggregate total assets of all affiliated insured banks, as well as any other affiliated bank or the controlling holding company. Continues existing acquisition eligibility of an insured bank which receives FDIC assistance after April 15, 1986, until no assistance remains outstanding. Authorizes any out-of-State bank which makes an emergency acquisition of an insured bank in any State to acquire other insured banks in such State to the same extent as authorized for any bank holding company whose insured bank subsidiaries' operations are principally conducted in such State. Prohibits any holding company which makes such an acquisition from being required under State law to divest any other bank or from being prevented from acquiring any other bank or holding company by reason of such acquistion. Requires the FDIC to submit an annual report to specified congressional committees on such emergency interstate acquisitions. Amends the Bank Holding Company Act of 1956 to impose similar restrictions on emergency interstate acquisitions of troubled banks not assisted by the FDIC. Authorizes the Federal Reserve Board to: (1) dispense with notice and hearing requirements for the acquisition of a bank in danger of closing; and (2) reduce the post-approval waiting period to five days or eliminate such period if necessary to prevent the probable failure of the bank. Directs the Board to submit an annual report to specified congressional committees on applications for such emergency acquisitions. Amends the Garn-St Germain Depository Institutions Act of 1982 to extend until July 15, 1989, the Deposit Insurance Flexibility Act. Terminates this title and the Deposit Insurance Flexibility Act effective July 15, 1989. Title III: Expedited Funds Availability - Expedited Funds Availability Act - Requires the Board of Governors of the Federal Reserve System to begin to develop an expedited funds availability system which shall be implemented no later than three years and 90 days after enactment of this title. Provides that such system shall require that funds deposited in an account of a depository institution by local and in-state checks be available for withdrawal the business day after deposit and that funds deposited by all other checks be available on the fourth business day after deposit. Lists considerations for the Board in establishing such system which include providing for the automated return of unpaid checks, a uniform endorsement standard, and direct notification of nonpayment. Directs the Board to report to the Congress every six months on its actions to implement such system and within two years after enactment of this title on the effects of temporary schedules for fund availability established under this title. Establishes specific time limits for funds availability for various types of deposits. Provides for next day availability for cash, the cash portion of a deposit, wire transfers, checks of $100 or less, checks drawn on in-state branches of the receiving depository institution or branches located in the same check processing region, U.S. Treasury checks endorsed only by the payee, State and local treasury checks endorsed only by the payee and deposited in special envelopes at manned branches, cashier's checks, certified checks, teller's checks, and depository checks endorsed only by the payee and deposited in special envelopes at manned branches. Sets forth a schedule, to be terminated upon implementation of the expedited funds availability system, providing that: (1) checks drawn on local originating depository institutions shall be available on the third business day after deposit during the one-year period beginning 90 days after enactment of this title and on the second business day after deposit during the subsequent two years; and (2) checks drawn on nonlocal originating depository institutions shall be available for withdrawal on the seventh business day after deposit. Authorizes the Board to make certain adjustments in such time limits. Sets forth time limit exceptions and special time limits which shall apply: (1) to new accounts, deposits by checks in excess of $5,000, checks redeposited after being returned, repeated overdrafts, and foreign checks; and (2) under specified emergency conditions. Authorizes the Board to suspend the applicability of this Act to any classification of checks directly associated with an unacceptable level of losses due to check-related fraud. Requires the Board to transmit a report justifying any suspension to specified congressional committees. Provides that the expedited funds availability schedules shall not apply if the receiving depository institution doubts the collectability of funds for a check, believes that the drawer or drawee of the check has or is about to become subject to bankruptcy or receivership, or believes that a situation involving fraud or kiting exists. Directs the institution to provide notice to the drawer and drawee in such situations. Prohibits any depository institution from freezing funds in an account because other funds deposited in such account by check are not yet available for withdrawal pursuant to this title. Directs each institution to inform employees of, and ensure employee compliance with, the requirements of this title. Provides that State laws providing for shorter time periods for the availability of funds deposited in a State-chartered institution shall supersede this title and shall apply to all federally insured depository institutions located in such State. Requires interest to accrue on funds deposited in an interest-bearing account of an institution beginning on the business day on which the institution receives provisional credit for such funds. Requires a depository institution to meet specified disclosure requirements concerning its general policy on the availability for withdrawal of funds deposited by check. Authorizes the Board to publish model disclosure forms and clauses for common transactions. Directs the Board to establish a Payments System Advisory Council to advise and consult with the Board in the exercise of the Board's functions under this title. Declares that this title supersedes State law, including the Uniform Commercial Code, except as specified earlier. Sets forth provisions governing: (1) the administrative enforcement of this title; and (2) the civil liability of institutions that fail to comply with this title. Title IV: Housing and Community Development - Housing Act of 1986 - Subtitle A: Program Extensions and Amendments - Amends the National Housing Act of 1964, the Housing Act of 1949, and the National Flood Insurance Act of 1968 to extend Federal housing administration mortgage insurance programs, rehabilitation loan authority, rural housing authorities, and the flood and crime insurance programs through FY 1987. Amends the National Housing Act with respect to mortgage insurance and secondary mortgage market programs. Amends the Housing and Community Development Act of 1974 with respect to community and neighborhood development and conservation programs. Subtitle B: Housing Assistance - Amends the United States Housing Act of 1937 with respect to lower income housing projects. Amends the Housing and Community Development Amendments of 1978 with respect to multifamily housing management and preservation. Amends the Housing Act of 1959 with respect to housing for the elderly and the handicapped. Subtitle C: Rural Housing - Amends the Housing Act of 1949 with respect to rural housing, especially mortgage credit. Subtitle D: Shelter Assistance for the Homeless and Displaced - Establishes in the Department of Housing and Urban Development (HUD) the National Emergency Food and Shelter Board, which shall continue the emergency food and shelter program established in the Department of Housing and Urban Development-Independent Agencies Appropriations Act, 1986. Subtitle E: Nehemiah Housing Opportunity Grants - Authorizes the Secretary of Housing and Urban Development (the Secretary) to make grants to nonprofit organizations to carry out Nehemiah Housing Opportunity programs. Specifies requirements and terms of such grants. Establishes in the Treasury the Nehemiah Housing Opportunity Fund to provide for such grants. Subtitle F: Preventing Fraud and Abuse in Department of Housing and Urban Development Programs - Authorizes the Secretary to require applicants or participants in HUD financial assistance programs to disclose their social security account numbers or employer identification numbers. Subtitle G: Enterprise Zone Development - Provides for the designation of enterprise zones for HUD development programs. Subtitle H: Assisted Housing Liability Improvements - Amends the United States Housing Act of 1937 with respect to assisted housing. Directs the Secretary to permit public housing agencies to carry out their activities without prior review or approval.

Banking Stability, Housing Improvement, and Consumer Protection Act of 1986

United States · United States Congress · 18 September 1986

Banking Stability, Housing Improvement, and Consumer Protection Act of 1986 - Title I: Nonbank Bank Provisions - Financial Institutions Equity Act of 1986 - Amends the Bank Holding Company Act of 1956 (BHCA) to redefine a "bank" for purposes of such Act to include any institution which is insured by the Federal Deposit Insurance Corporation (FDIC) or which: (1) accepts demand deposits or other deposits withdrawable by check or similar means for payment to third parties; and (2) makes commercial loans. Excludes from the definition of a "bank" subject to such Act: (1) any foreign bank having an insured or uninsured branch in the United States; (2) mutual savings banks, savings banks, credit unions, thrifts, and savings and loan associations which are federally insured or eligible to apply for such insurance; (3) certain credit card banks which engage only in credit card operations and maintain only one office; (4) certain trust companies, the FDIC-insured deposits of which are not marketed through an affiliated company and which do not obtain payment or payment related services from any Federal Reserve bank or exercise Federal Reserve discount or borrowing privileges; and (5) industrial banks or loan companies that were operating before enactment of this title and that undergo no change in control or corporate status after such enactment date. Allows a bank holding company to continue to control an institution which becomes a bank as a result of this Act and the formation or acquisition of which was approved on or before May 9, 1984 (designated bank). Allows a bank holding company which controls designated banks, but no other bank, to continue to control such designated banks; but, requires such company to register as a bank holding company under BHCA. Permits designated banks to conduct only those activities they were conducting on May 24, 1984, at the same number of locations at which such activities were conducted on such date. Prohibits a designated bank from offering the products or services of, or permitting its products or services to be offered by, an affiliate engaged in any activity prohibited for bank holding companies by BHCA. Prohibits, beginning one year after enactment of this Act, a bank holding company or any other person from controlling any institution which becomes a bank as a result of this Act and the formation or acquisition of which was not approved on or before May 9, 1984 (nondesignated bank) unless The Federal Reserve Board approves an application for control of such institution. Authorizes the Board to order any bank holding company to divest itself of any designated bank or to cease any nonbanking activity if: (1) such designated bank violates a restriction under this Act; or (2) the Board determines that such action is necessary to protect the Nation's financial system, to avoid disruption of the Federal Reserve System's payment mechanism, or to prevent a conflict of interest, the undue concentration of resources, or unfair competition. Authorizes the Board to order any bank holding company or other person to divest itself of any nondesignated bank the formation or acquisition of which has not been approved within one year after enactment of this title. Title II: Recapitalization of FSLIC - Federal Savings and Loan Insurance Corporation Recapitalization Act of 1986 - Amends the Federal Home Loan Bank Act to require the Federal Home Loan Bank Board (FHLBB) to charter the Financing Corporation. Requires the Corporation to be under the management of a Directorate consisting of the Director of the Office of Finance of the Federal Home Loan Banks (Banks) and two other members selected by the Chairman of the Board from presidents of the Banks. Empowers the Corporation to borrow, to issue stock to Banks, to invest in Federal Savings and Loan Insurance Corporation (FSLIC) securities, to issue obligations the proceeds of which shall invest in the FSLIC, and to make semiannual assessments of insured institutions to provide for the issuance costs, interest, and custodian fees of such obligations. Limits the aggregate amount of such obligations that may be outstanding at any time. Provides that such obligations shall be treated by the Securities and Exchange Commission as exempt securities, shall be tax-exempt (excluding interest), and shall not be guaranteed by the FSLIC, the Banks, or the United States. Requires each Bank to invest in nonvoting capital stock of the Corporation. Limits the cumulative investment of all Banks to $3,000,000,000 and of each Bank to the sum of specified required reserves plus undivided profits, as prescribed by this Act. Sets forth a formula for determining the prorated portion of funds to be invested by each Bank. Restricts dividend payments by a Bank for which other Banks must invest its required amount. Limits the use and disposition of Corporation assets not invested in the FSLIC. Prohibits the Corporation from making any net new borrowing after December 31, 1986. Creates a Federal Savings and Loan Insurance Corporation Industry Advisory Committee. Directs the Committee to: (1) review, and confer with the FHLBB regarding, quarterly reports and budgets on the activities, receipts, and expenditures of the FSLIC; and (2) submit an annual report to specified congressional committee chairmen on its activities and its reports and recommendations to the FHLBB and the FSLIC. Terminates the Committee and the Corporation as soon as practicable after the earlier of: (1) the date by which all FSLIC stock purchased by the Corporation has been retired; or (2) December 31, 2026. Amends the Government Corporations Control Act to establish the Corporation as a mixed ownership Government corporation. Amends the National Housing Act to authorize the FSLIC to issue nonredeemable capital certificates and redeemable nonvoting capital stock which shall be sold only to the Corporation, shall pay no dividends, and the proceeds of which shall be considered part of the FSLIC's primary reserve. Directs the FSLIC to establish and maintain an equity return account until all such certificates and stock have been paid off and retired. Sets forth formulae for calculating the FSLIC's annual contributions to such account beginning in 1997 based on the fraction of the aggregate amount of all account of all insured members equal to FSLIC reserves. Authorizes the FSLIC to invest amounts accumulated in such account as it determines appropriate. Directs the FSLIC to use only amounts accumulated in such account to payoff and retire its stock. Provides that certain statutorily prescribed suspensions or reductions of FSLIC premiums based on the FSLIC's primary and secondary reserve levels shall not apply as long as shares of its capital stock are outstanding. Reduces the total premiums paid by an insured institution to the FSLIC by the amount of any assessments paid to the Corporation during the same period. Amends the Federal Home Bank Act to allow the FHLBB to authorize a Bank to declare and pay dividends out of its undivided profits or legal reserves, only after such Bank has reduced all other reserves to zero, if: (1) the Bank incurs a charge-off or expense related to its investment in the Corporation; and (2) the FHLBB determines that there is an extraordinary need for such Bank's member institutions to receive dividends. Directs the FSLIC to: (1) complete quarterly reports and budgets explaining its activities, receipts, and expenditures, including the activities, receipts, and expenditures of the Federal Asset Disposition Association, for the current and preceding quarters; and (2) submit to specified congressional committee chairmen semiannual reports and budgets on its activities, receipts, and expenditures for the preceding semiannual period. Title III: Financial Institutions Emergency Acquisitions - Financial Institutions Emergency Acquisitions Amendments of 1986 - Amends the Federal Deposit Insurance Act to revise provisions governing interstate acquisitions of troubled banks involving Federal Deposit Insurance Corporation (FDIC) financial assistance. Requires the appropriate Federal banking agency to notify and consult with the FDIC about pending action, and notify the FDIC of final action, with respect to any proposed acquisition by an out-of-state bank or holding company of an insured bank in danger of closing that may qualify for interstate acquisition. Authorizes the FDIC to arrange the acquisition of a closed bank which was one of the ten largest insured banks in the State. Directs the FDIC to provide the State bank supervisor with all relevant information concerning all out-of-State banks or holding companies making acquisition offers. Authorizes interstate acquisitions of: (1) an insured bank in danger of closing which has total assets of $500,000,000 or is one of the ten largest insured banks in the State; or (2) two or more affiliated banks in danger of closing if the aggregate total assets of such banks exceed $500,000,000 and equal or exceed 33 percent of the aggregate total assets of all affiliated insured banks, as well as any other affiliated bank or the controlling holding company. Continues existing acquisition eligibility of an insured bank which receives FDIC assistance after April 15, 1986, until no assistance remains outstanding. Authorizes any out-of-State bank which makes an emergency acquisition of an insured bank in any State to acquire other insured banks in such State to the same extent as authorized for any bank holding company whose insured bank subsidiaries' operations are principally conducted in such State. Prohibits any holding company which makes such an acquisition from being required under State law to divest any other bank or from being prevented from acquiring any other bank or holding company by reason of such acquisition. Requires the FDIC to submit an annual report to specified congressional committees on such emergency interstate acquisitions. Amends the Bank Holding Company Act of 1956 to impose similar restrictions on emergency interstate acquisitions of troubled banks not assisted by the FDIC. Authorizes the Federal Reserve Board to: (1) dispense with notice and hearing requirements for the acquisition of a bank in danger of closing; and (2) reduce the post-approval waiting period to five days or eliminate such period if necessary to prevent the probable failure of the bank. Directs the Board to submit an annual report to specified congressional committees on applications for such emergency acquisitions. Amends the Garn-St Germain Depository Institutions Act of 1982 to extend until July 15, 1989, the Deposit Insurance Flexibility Act. Terminates this title and the Deposit Insurance Flexibility Act effective July 15, 1989. Title IV: Expedited Funds Availability - Expedited Funds Availability Act - Requires the Board of Governors of the Federal Reserve System to begin to develop an expedited funds availability system which shall be implemented no later than three years and 90 days after enactment of this title. Provides that such system shall require that funds deposited in an account of a depository institution by local and in-state checks be available for withdrawal the business day after deposit and that funds deposited by all other checks be available on the fourth business day after deposit. Lists considerations for the Board in establishing such system which include providing for the automated return of unpaid checks, a uniform endorsement standard, and direct notification of nonpayment. Directs the Board to report to the Congress every six months on its actions to implement such system and within two years after enactment of this title on the effects of temporary schedules for fund availability established under this title. Establishes specific time limits for funds availability for various types of deposits. Provides for next day availability for cash, the cash portion of a deposit, wire transfers, checks of $100 or less, checks drawn on in-state branches of the receiving depository institution or branches located in the same check processing region, U.S. Treasury checks endorsed only by the payee, State and local treasury checks endorsed only by the payee and deposited in special envelopes at manned branches, cashier's checks, certified checks, teller's checks, and depository checks endorsed only by the payee and deposited in special envelopes at manned branches. Sets forth a schedule, to be terminated upon implementation of the expedited funds availability system, providing that: (1) checks drawn on local originating depository institutions shall be available on the third business day after deposit during the one-year period beginning 90 days after enactment of this title and on the second business day after deposit during the subsequent two years; and (2) checks drawn on nonlocal originating depository institutions shall be available for withdrawal on the seventh business day after deposit. Authorizes the Board to make certain adjustments in such time limits. Sets forth time limit exceptions and special time limits which shall apply: (1) to new accounts, deposits by checks in excess of $5,000, checks redeposited after being returned, repeated overdrafts, and foreign checks; and (2) under specified emergency conditions. Authorizes the Board to suspend the applicability of this title to any classification of checks directly associated with an unacceptable level of losses due to check-related fraud. Requires the Board to transmit a report justifying any suspension to specified congressional committees. Provides that the expedited funds availability schedules shall not apply if the receiving depository institution doubts the collectability of funds for a check, believes that the drawer or drawee of the check has or is about to become subject to bankruptcy or receivership, or believes that a situation involving fraud or kiting exists. Directs the institution to provide notice to the drawer and drawee in such situations. Prohibits any depository institution from freezing funds in an account because other funds deposited in such account by check are not yet available for withdrawal pursuant to this title. Directs each institution to inform employees of, and ensure employee compliance with, the requirements of this title. Provides that State laws providing for shorter time periods for the availability of funds deposited in a State-chartered institution shall supercede this title and shall apply to all federally insured depository institutions located in such State. Requires interest to accrue on funds deposited in an interest-bearing account of an institution beginning on the business day on which the institution receives provisional credit for such funds. Requires a depository institution to meet specified disclosure requirements concerning its general policy on the availability for withdrawal of funds deposited by check. Authorizes the Board to publish model disclosure forms and clauses for common transactions. Directs the Board to establish a Payments System Advisory Council to advise and consult with the Board in the exercise of the Board's functions under this title. Declares that this title supercedes State law, including the Uniform Commercial Code, except as specified earlier. Sets forth provisions governing: (1) the administrative enforcement of this title; and (2) the civil liability of institutions that fail to comply with this title. Title V: Truth in Savings and Credit Card Applications - Truth in Savings and Credit Card Applications Act - Requires each advertisement, announcement, or solication by a depository institution which refers to a specific interest rate, yield, or rate of earnings on amounts deposited in a demand or interest-bearing account to state the following information clearly and conspicuously: (1) the annual percentage yield and the period such yield is in effect; (2) all minimum initial deposit, minimum balance, and time requirements for earning such yield; (3) the annual rates of simple interest; (4) fees or other conditions that could reduce the yield; (5) any interest penalty for early withdrawal; and (6) the effective percentage yield on the maturity of any account maturing in less than one year. Authorizes the Board of Governors of the Federal Reserve System to exempt advertisements, announcements, or solicitations made by any broadcast or electronic medium or outdoor advertising displays not on the premises of a depository institution, from the disclosure requirements relating to initial deposit requirements, rates of simple interest, or fees, if such disclosure would be unnecessarily burdensome. Prohibits any depository institution from advertising an account as a free or no-cost account if: (1) there are minimum balance or limited transaction requirements to avoid fees; or (2) there is any service fee, transaction fee, or similar charge imposed for such account. Prohibits any institution from making any advertisement, announcement, or solicitation that is inaccurate or misleading or that misrepresents its deposit contracts. Requires each depository institution to maintain a schedule, written in clear and plain language, of fees, charges, interest rates, and terms and conditions such as minimum balance and time requirements applicable to each class of accounts offered. Requires that such schedule be disclosed to potential customers and requesting individuals and mailed to account holders. Requires that account holders receive 30-days' advance notice of any change to be made in any term or condition required to be disclosed in the schedule if the change might reduce the yield or adversely affect any account holder. Directs the Board to require modified disclosure requirements concerning the annual yield on variable rate accounts, multiple rate accounts, guaranteed-rate accounts that mature in less than one year, and accounts for which the interest rate is not guaranteed. Directs the Board to provide for public notice and comment on, and to publish, model forms and clauses for common disclosures required by this Act. Requires depository institutions that issue credit cards to disclose specified information regarding interest rates and fees on applications and solicitations. Prescribes modified requirements for "take-one" applications made available to the public in commercial establishments. Requires the information to be displayed conspicuously, prominently, and in a clear and concise tabular format as may be prescribed by the Board. Provides for the enforcement of this title and the civil liability of a depository institution that fails to comply with requirements of this title. Sets forth limitations on such liability and factors to be considered by the court in determining class action awards. Provides that an institution may not be held liable for a violation if the institution demonstrates that the violation was not intentional and resulted from a bona fide error. Establishes U.S. district court jurisdiction and a one-year statute of limitations for actions brought under this title. Title VI: Depository Institutions Examination Improvement - Depository Institution Examination Improvement Act of 1986 - Redesignates the Financial Institutions Examination Council as the Depository Institutions Examination Council. Directs the Council to prepare guidelines for the Federal depository institutions regulatory agencies to ensure adequate compensation for living and travel expenses for any Federal examiner who is temporarily assigned outside of his or her regular region of employment. Provides that the estimated expenditures and receipts of the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation (FDIC), the Federal Home Loan Bank Board (FHLBB), the Federal Savings and Loan Insurance Corporation (FSLIC), and the National Credit Union Administration (NCUA) included in the annual Federal budget submitted to the Congress by the President shall be submitted to the President before October 16 of each year and included in the President's budget without change. Exempts such entities from fiscal, budget, appropriation, and fund apportionment requirements. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to exempt funds of such entities from reduction under any sequestration order. Provides that the number of employees of a Federal depository institutions regulatory agency shall not be subject to any limitation imposed by any executive branch officer outside such agency. Subjects the FHLBB, the Federal Home Loan Banks, the FSLIC, and the NCUA to audits by the Comptroller General. Establishes the FSLIC as a mixed-ownership Government corporation (currently listed as a wholly owned Government corporation). Repeals specified authority of the Treasury to approve actions, including bank examiner appointments, and appoint staff of the Comptroller of the Currency. Directs the Council to: (1) develop a proposal for consolidating all Federal examiner training programs in one school to be established and conducted by the Council; and (2) report to specified congressional committees on its findings, legislative recommendations, and the savings to the regulatory agencies that would result from such consolidation. Requires the Council to: (1) study the feasibility of establishing a graduate degree program in financial management analysis for officers and employees of the regulatory agencies and the State depository institutions supervisory agencies (State agencies); and (2) report to specified congressional committees on its findings, legislative recommendations, the cost of establishing and conducting the program, and on the approval or disapproval by each regulatory agency of the Council's proposal for such program. Requires the Council to establish minimum requirements for examinations of depository institutions by State agencies in order for such an examination to be acceptable for purposes of Federal law. Prohibits such requirements from exceeding the minimum standards in effect for Federal examiners. Directs the Council: (1) at least annually, to request each State agency which examines institutions subject to Federal examination to allow the Council to review its examination methods; (2) to notify a State agency if its examination methods do not satisfy such minimum requirements and allow the agency not more than three years to cure any deficiency; and (3) to notify each Federal regulatory agency if a State agency refuses to allow a review of its examination methods or fails to remedy any deficiency in its methods. Prohibits any Federal regulatory agency or any regional bank, branch, or other office of such Federal agency from relying on any report of examination by a State agency for which such a notice has been received to fulfill an examination requirement under Federal law. Permits the Council to limit the scope of a notice to: (1) a separate branch or department of a State agency which has authority to conduct examinations; or (2) a State agency's capacity to examine a particular type of depository institution. Requires the FDIC, FHLBB, FSLIC, and the NCUA Board to accept any report of examination made by a State agency which meets the minimum requirements as determined by the Council, or to notify the State agency of the reason for such entity's refusal to accept such agency report. Requires a demonstration project to be conducted beginning January 1, 1988, under which the Federal Reserve Board and the FDIC, if they elect to participate, and the Office of the Comptroller of the Currency, the NCUA, FHLBB, and FSLIC shall establish and implement a system to provide employees compensation, including benefits, comparable to that received by their counterparts in the private sector. Requires each agency's compensation system to provide that: (1) covered positions will be classified by pay bands created by modifying the classes or grades currently applicable to such positions; (2) employees shall be evaluated using peer comparison and ranking; (3) each employee's basic pay rate shall be reviewed annually and shall be adjusted to prevent any increase in the deficiency between such rate and the pay for a comparable private sector position, if the employee's performance is rated at the fully successful level or higher; and (4) performance-recognition bonuses, recruitment and retention allowances, and differentials to compensate for regional differences in costs of living shall be awarded where appropriate. Directs each agency to provide for the preparation of reports on: (1) any deficiency in the overall average level of compensation provided for agency positions as compared to the overall average level of compensation generally provided for comparable positions in the private sector; and (2) the percentage by which basic pay for all agency positions must be increased each year to eliminate any increase in such deficiency. Requires each agency head to institute such increase and permits each agency to further increase pay rates to eliminate the entire deficiency. Prohibits any reduction in an employee's basic pay rate by reason of the establishment of such demonstration project. Requires the Office of Personnel Management to: (1) provide that the demonstration project shall be evaluated annually by a contractor; and (2) report the contractor's findings to specified congressional committees. Requires the Comptroller General, within four years after the date on which the project commences, to submit to such committees a final report on such project, including any recommendations for appropriate legislative or other action. Title VII: Housing and Community Development - Housing Act of 1986 - Subtitle A: Program Extensions and Amendments - Amends the National Housing Act, the Housing Act of 1964, the Housing Act of 1949, and the National Flood Insurance Act of 1968 to extend Federal housing administrative mortgage insurance programs, rehabilitation loan authority, rural housing authorities, and the flood and crime insurance programs through FY 1987. Amends the National Housing Act with respect to mortgage insurance and secondary mortgage market programs. Amends the Housing and Community Development Act of 1974 with respect to community and neighborhood development and conservation programs. Subtitle B: Housing Assistance - Amends the United States Housing Act of 1937 with respect to lower income housing projects. Amends the Housing and Community Development Amendments of 1978 with respect to multifamily housing management and preservation. Amends the Housing Act of 1959 with respect to housing for the elderly and the handicapped. Subtitle C: Rural Housing - Amends the Housing Act of 1949 with respect to rural housing, especially mortgage credit. Subtitle D: Shelter Assistance for the Homeless and Displaced - Establishes in the Department of Housing and Urban Development (HUD) the National Emergency Food and Shelter Board, which shall continue the emergency food and shelter program established in the Department of Housing and Urban Development-Independent Agencies Appropriations Act, 1986. Subtitle E: Nehemiah Housing Opportunity Grants - Authorizes the Secretary of Housing and Urban Development (the Secretary) to make grants to nonprofit organizations to carry out Nehemiah Housing Opportunity programs. Specifies requirements and terms of such grants. Establishes in the Treasury the Nehemiah Housing Opportunity Fund to provide for such grants. Subtitle F: Preventing Fraud and Abuse in Department of Housing and Urban Development Programs - Authorizes the Secretary to require applicants or participants in HUD financial assistance programs to disclose their social security account numbers or employer identification numbers. Subtitle G: Enterprise Zone Development - Provides for the designation of enterprise zones for HUD development programs. Subtitle H: Assisted Housing Livability Improvements - Amends the United States Housing Act of 1937 with respect to assisted housing. Directs the Secretary to permit public housing agencies to carry out their activities without prior review or approval.

A joint resolution to provide for the temporary extension of certain programs relating to housing and community development, and for other purposes.

United States · United States Congress · 12 September 1986

Amends the National Housing Act to extend authority through March 31, 1987, for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) homeownership for lower income families including mortgage insurance authority and housing stimulus authority; (5) mortgage co-insurance, including rental rehabilitation and development projects; (6) graduated payment and indexed mortgage insurance; (7) the demonstration mortgage reinsurance program; (8) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (9) mortgage insurance for land development; and (10) mortgage insurance for medical and dental group practice facilities. Amends the National Housing Act to extend insured mortgage commitment limitations through FY 1987. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through March 31, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through March 31, 1987, for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; (2) rural communities with 10,000 - 20,000 population to participate in rural housing programs; and (3) mutual and self-help housing grant and loan authority. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones, through March 31, 1987. Amends the National Housing Act to extend authority for the national crime insurance program and for existing contracts through March 31, 1987. Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through March 31, 1987. Amends the Housing and Urban-Rural Recovery Act of 1983 to extend the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families through March 31, 1987. Extends the Home Mortgage Disclosure Act through March 31, 1987.

Rural Rental Housing Displacement Prevention Act of 1986

United States · United States Congress · 15 August 1986

Rural Rental Housing Displacement Prevention Act of 1986 - Amends the Housing Act of 1949 to establish a one-year prepayment moratorium on rural rental housing loans made or insured prior to December 21, 1979, unless appropriate alternative housing is available. Provides rental assistance to persons displaced by prepayments approved during the one-year period ending on the date of enactment of this Act.

Thomas T. Demery, of Michigan, to be an Assistant Secretary of Housing and Urban Development, vice Maurice Lee Barksdale, resigned.

United States · United States Senate · 12 August 1986

A resolution waiving certain points of order against consideration of the bill (H.R. 5313) making appropriations for the Department of Housing and Urban Development, and for sundry independent agencies, boards, commissions, corporations, and offices for the fiscal year ending September 30, 1987, and for other purposes.

United States · United States Congress · 7 August 1986

Waives points of order against the consideration of H.R. 5313 (Department of Housing and Urban Development and other agencies appropriations).

A joint resolution to designate the week of October 19, 1986, through October 26, 1986, "National Housing Week".

United States · United States Congress · 5 August 1986

Designates the week of October 19 through October 26, 1986, as National Housing Week.

A joint resolution to designate the week of October 19, 1986, through October 26, 1986, "National Housing Week".

United States · United States Congress · 1 August 1986

Designates the week of October 19 through October 26, 1986, as National Housing Week.

Department of Housing and Urban Development-Independent Agencies Appropriations Act, 1987

United States · United States Congress · 31 July 1986

Department of Housing and Urban Development-Independent Agencies Appropriations Act, 1987 - Title I: Department of Housing and Urban Development - Makes appropriations to the Department of Housing and Urban Development (HUD) for FY 1987 for: (1) housing programs, including congregate services, low-income housing projects, housing counseling assistance, operating subsidies for troubled multifamily housing projects, and payments to cover losses of the Special Risk Insurance Fund and the General Insurance Fund; (2) the Solar Energy and Energy Conservation Bank for assistance for solar and conservation improvements; (3) community development grants, urban development action grants, and the urban homesteading program; (4) policy development and research; (5) fair housing assistance; and (6) salaries and expenses. Increases the contract and budget authority for annual contributions for assisted housing. Earmarks specified amounts of such budget authority for: (1) financing public housing for Indian families; (2) public housing new construction or acquisition with or without rehabilitation other than for low-income housing for Indian families; (3) modernization of existing public housing projects; (4) assistance for projects for the elderly or handicapped; and (5) assistance under the existing low-income rental housing assistance program, the rental rehabilitation program, development grants, and the housing voucher program. Provides that all amounts of such budget authority recaptured during FY 1987 shall be rescinded. Rescinds a specified amount of FY 1987 contract authority for rent supplements and rental housing assistance. Limits new loan guarantee commitments by the Government National Mortgage Association. Authorizes a specified amount for loans in FY 1987 to qualified nonprofit sponsors for the development of housing for the elderly or handicapped. Limits the maximum interest rate on such loans to nine and one-quarter percent. Authorizes gross obligations for direct loans under the National Housing Act during FY 1987. Limits the additional commitments to guarantee loans, the gross obligations for the principal amounts of direct loans, and the amount of loan guarantee commitments on the mortgage-backed securities programs under such Act for FY 1987. Authorizes the use of amounts in the rehabilitation loan fund for loans, operating costs, and the capitalization of delinquent interest during FY 1987. Title II: Independent Agencies - Makes appropriations for FY 1987 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, and buildings and facilities; (5) Executive Office of the President for the Council on Environmental Quality, the Office of Environmental Quality, and the Office of Science and Technology Policy; (6) Federal Emergency Management Agency (FEMA) for disaster relief, salaries and expenses, emergency management planning and assistance, the National Flood Insurance Fund, and the emergency food and shelter program; (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 (NASA) for research and development, space flight, control, and data communications, the construction of facilities, and research and program management; (10) National Science Foundation (NSF) for research and the acquisition of an aircraft, the U.S. Antarctic Program, scientific education, and overseas scientific activities (special foreign currency program); (11) Neighborhood Reinvestment Corporation; (12) Selective Service System for salaries and expenses; (13) Department of the Treasury for the Local Government Fiscal Assistance Trust Fund and the Office of Revenue Sharing; and (14) Veterans Administration (VA) 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, grants for the construction of State extended care facilities and veterans cemeteries, grants to the Republic of the Philippines for assisting in rehabilitating the Veterans Memorial Medical Center, and the loan guaranty revolving fund; and (15) the National Credit Union Administration. Limits the obligations of the Central Liquidity Facility of the National Credit Union Administration for new loans for member credit unions and the amount of its administrative expenses for FY 1987. Prohibits the expenditure of EPA appropriations for Resource Conservation and Recovery Panels. Requires the Director of FEMA to establish a national board to determine how emergency food and shelter appropriations are to be distributed to individual localities. Directs the Commodity Credit Corporation to process and distribute surplus food purchased under the food distribution and emergency shelter program in cooperation with FEMA. Limits the amount available for expenditure from the Consumer Information Fund. Prohibits the use of NASA appropriations for: (1) leasing or constructing a contractor-funded facility when NASA would be required to amortize the contractor's investment, unless authorized in an appropriation Act or approved by the House and Senate Committees on Appropriations; or (2) program or personnel transfers from the Johnson Space Center without congressional authorization. Prohibits the use of funds appropriated to the U.S. Antarctic program for the purchase of aircraft. Prohibits the expenditure of any funds appropriated to the Selective Service for the induction of any person into the armed forces. Prohibits the use of VA appropriations for major construction projects that have not been approved by the Congress, except for the advance planning of projects funded through the advance planning fund and the design of projects funded through the Design Fund. Prohibits the obligation of funds from any other account (except the parking garage revolving fund) for a project which was approved in the budget process and funded under the VA account for major construction projects until one year after substantial completion and beneficial occupancy by the VA. Authorizes obligations on the part of the Loan Guaranty Revolving Fund and the Direct Loan Revolving Fund of the VA. Permits, in specified circumstances, the transfer of funds appropriated to the VA. Prohibits the use of appropriations for purchasing any site for, 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 certain corporations and agencies of HUD and the Federal Home Loan Bank Board to make commitments without regard to fiscal year limitations, with specified exceptions. Limits, with specified exceptions, new loan or mortgage purchase commitments to the extent expressly provided in this Act. Makes appropriations for FY 1987 to the Federal Home Loan Bank Board and the Federal Savings and Loan Insurance Corporation (FSLIC) for administrative expenses. Sets specified limitations on such expenses. Title IV: General Provisions - Limits travel expenditures for the agencies listed in this Act to the amounts set forth in the budget estimate, with specified exceptions. Permits the use of HUD and Selective Service System appropriations for: (1) uniforms; (2) the hire of passenger vehicles; and (3) the employment of experts and consultants. Allows the use of HUD funds to pay for legal services and facilities provided by specified agencies. Prohibits, with specified exceptions, the use of appropriated funds: (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 GS-18 rate; and (6) for compensation of non-Federal parties intervening in regulatory or adjudicatory proceedings. Prohibits the use of funds appropriated for personnel compensation and benefits for other object classifications in the budget estimates. Limits expenditures for consulting services to contracts which are a matter of public record and included in a publicly available list of: (1) contracts entered into within the past two years; and (2) contracts on which performance has not been completed. Prohibits any executive agency from expending appropriations under this Act for a contract for services unless the agency: (1) complies with the Office of Federal Procurement Policy Act; and (2) requires reports prepared pursuant to such contract to disclose information about the contract and the contractor. Prohibits the use of funds appropriated by this Act to: (1) provide a personal cook, chauffeur, or other personal servant to any officer or employee of any agency or department; or (2) procure automobiles with an EPA estimated miles per gallon average of less than 22 miles per gallon.

Housing Eligibility Verification Improvement Act of 1986

United States · United States Congress · 26 June 1986

Housing Eligibility Verification Improvement Act of 1986 - Authorizes the Secretary of Housing and Urban Development, in order to strengthen eligibility verification and the proper determination of benefits for housing programs, to: (1) require an applicant or participant to disclose his or her social security or employee identification number; and (2) obtain access to wage and other information from State employment records maintained under the Social Security Act.

National Clearinghouse for the Homeless Act of 1986

United States · United States Congress · 26 June 1986

National Clearinghouse for the Homeless Act of 1986 - Establishes in the Department of Health and Human Services a National Clearinghouse for the Homeless. Sets forth such Clearinghouse's functions, including: (1) coordination and review of Federal programs for the homeless, including homeless mentally ill persons; (2) interagency agreement monitoring; (3) data base development and information dissemination; (4) development of a national toll-free telephone line; (5) assistance to State and local entities; (6) development of demonstration projects; and (7) facilities acquisition. Directs such Clearinghouse to: (1) conduct an annual national study to determine the number of homeless persons and collect other related information; (2) provide information-gathering technical assistance to States and local governments; and (3) prepare and transmit an annual report to the President, the Congress, and the Advisory Council on Federal, State, and local programs for the homeless. Establishes an Advisory Council to the National Clearinghouse for the Homeless. Requires an annual report to the President, the Congress, the Clearinghouse, and the Secretary of Health and Human Services. Authorizes FY 1987 through 1989 appropriations.

Homeless Persons' Survival Act of 1986

United States · United States Congress · 26 June 1986

Homeless Persons' Survival Act of 1986 - Title I: Emergency Relief for the Homeless - Subtitle A: Emergency Shelter for the Homeless - Declares that every homeless individual is entitled to decent overnight shelter. Amends the Social Security Act to make emergency assistance mandatory for needy families with children and for homeless persons. Subtitle B: Social Security Assistance to the Homeless - Amends the Social Security Act to provide for an outreach program to homeless persons who may be eligible for OASDI and SSI benefits. Extends SSI eligibility to public shelter residents. Subtitle C: Health and Mental Health Care for the Homeless - Provides health and mental health care services to homeless persons. Subtitle D: Emergency Food for the Homeless - Amends the Food Stamp Act of 1977 to provide for food stamp outreach to homeless persons. Makes establishments that feed homeless persons eligible to redeem food stamps. Amends the Temporary Emergency Food Assistance Act of 1983 to increase the FY 1987 authorization of appropriations and extend funding through FY 1989. Subtitle E: Emergency Assistance to Homeless Families and Children - Amends the General Education Provisions Act to require a State or local educational agency to provide free public education to homeless children in order to receive federal assistance. Amends the Runaway and Homeless Youth Act to define "providing temporary shelter" as providing shelter until permanent shelter can be provided elsewhere. Provides for grants for the establishment or expansion of shelters for homeless parents and infants. Subtitle F: Job Training for the Homeless - Amends the Job Training Partnership Act to include homeless persons in the definition of economically disadvantaged. Subtitle G: Entitlements Eligibility for the Homeless - States that the lack of a permanent address shall not make a person ineligible for assistance under: (1) the AFDC program; (2) the SSI program; (3) Medicaid; or (4) veterans' pension programs. Title II: Prevention of Homelessness - Subtitle A: Prevention of Evictions - Sets forth conditions which must be met before evicting a tenant from any federally assisted rental housing project. Directs the Secretary of Housing and Urban Development to provide grants for emergency rent relief payments to landlords on behalf of tenants facing eviction. Authorizes FY 1987 appropriations. Establishes in the Treasury an Emergency Rent Relief Fund. Subtitle B: Preservation of Low Income Housing - Provides for the preservation of single room occupancy buildings under the following programs: (1) community development block grants; (2) urban development action grants; (3) the existing housing program; and (4) the moderate rehabilitation program. Authorizes FY 1987 appropriations for rural housing. Subtitle C: Prevention of Homelessness of Disabled and Institutionalized Persons - Provides for the eligibility of mentally ill persons for federally assisted housing. Amends the Social Security Act to provide for: (1) immediate SSI payments for chronically mentally ill persons; (2) full SSI payments through the third month of institutionalization; and (3) pre-release procedures for such institutionalized persons. Amends the Food Stamp Act of 1977 to provide for a single application for SSI and food stamp benefits by SSI pre-release persons. Subtitle D: Prevention of Homelessness of Families and Children - Amends the Social Security Act to modify specified AFDC rules regarding dependent children in extended families. Title III: Increased Low Income Housing - Increases funding for existing housing and moderate rehabilitation programs. Authorizes FY 1987 appropriations. Provides for the increased availability of tax-foreclosed property to house the homeless. Obligates funds for FY 1987 under the community development block grants and housing for the elderly or handicapped programs for mentally ill homeless persons. Title IV: Effective Date - Makes the provisions of this Act effective on October 1, 1986.

Fair Housing Amendments Act of 1986

United States · United States Congress · 26 June 1986

Fair Housing Amendments Act of 1986 - Amends specified Acts to rename them the Civil Rights Act of 1968 and the Fair Housing Act. Amends the Fair Housing Act to make it unlawful to: (1) refuse to sell or rent a dwelling to an individual because that individual, or someone associated with that individual, is handicapped; or (2) discriminate against a handicapped individual in the terms, conditions, or privileges of sale or rental of a dwelling. Allows an aggrieved person (one who believes that he has been, or is about to be, injured by a discriminatory housing practice) to file a complaint with the Secretary of Housing and Urban Development. Requires the Secretary to investigate such complaints and attempt to correct the discriminatory practice by informal methods of conciliation. Makes changes in the current requirements for referring charges to State or local agencies for investigation and enforcement. Directs the Secretary to refer complaints to such agencies when an alleged discriminatory housing practice appears to violate a State or local fair housing law. Directs the Secretary to refer matters to the Attorney General for civil action if: (1) based on the preliminary investigation, prompt judicial action is necessary; or (2) conciliation of a complaint has been attempted and additional attempts are considered unlikely to be successful. Allows the Secretary to refer to the Attorney General any matter which is within the Secretary's jurisdiction under this Act. Allows the Secretary to refer matters to the Attorney General, recommending that civil actions be filed, where a respondent has failed to comply with conciliation agreements. Allows the court, in actions brought by the Attorney General, to: (1) award preventive relief, including permanent or temporary injunctions and restraining orders; and (2) assess a civil penalty against the respondent. Allows the court to award reasonable attorney fees to the prevailing party (other than the United States). Revises the enforcement procedure for actions brought by private persons. Extends the statute of limitations for such actions to two years. Provides that once a conciliation agreement has been obtained, no action may be filed by a private person under this Act, except for the enforcement of such agreement. Allows the Attorney General to intervene in any private action brought under this Act if the case is of general public importance.

Housing Assurance Act

United States · United States Congress · 26 June 1986

Housing Assurance Act - Housing the Homeless Act of 1986 - Title I: Prevention of Homelessness - Subtitle A: Prevention of Evictions and Foreclosures - Sets forth conditions which must be met before evicting a tenant from any federally assisted rental housing project. Directs the Secretary of Housing and Urban Development to: (1) provide grants for emergency rent relief payments to landlords on behalf of tenants facing eviction; and (2) provide mortgage foreclosure assistance. Authorizes FY 1987 appropriations. Establishes in the Treasury the Homeowners Relief Fund. Authorizes FY 1987 appropriations. Subtitle B: Preservation of Low-Income Housing - Provides for the preservation of single room occupancy buildings under the following programs: (1) community development block grants; (2) urban development action grants; (3) the existing housing program; and (4) the moderate rehabilitation program. Authorizes FY 1987 appropriations for rural housing. Subtitle C: Prevention of Homelessness of Disabled and Instutionalized Persons - Provides for the eligibility of mentally ill persons for federally assisted housing. Title II: Increased Low-Income Housing - Increases funding for existing housing and moderate rehabilitation programs. Authorizes FY 1987 appropriations. Provides for the increased availability of tax-foreclosed property to house the homeless. Obligates funds for FY 1987 under the community development block grants and housing for the elderly or handicapped programs for mentally ill homeless persons. Title III: Effective Date - Makes the provisions of this Act effective on October 1, 1986.

A bill to provide grants for the establishment and expansion of shelters for homeless parents with newborn infants.

United States · United States Congress · 26 June 1986

Directs the Secretary of Health and Human Services to make grants for the establishment and expansion of shelters for homeless parents with newborn infants. Authorizes FY 1987 appropriations.

Housing Eligibility Verification Improvement Act of 1986

United States · United States Congress · 26 June 1986

Housing Eligibility Verification Improvement Act of 1986 - Authorizes the Secretary of Housing and Urban Development, in order to strengthen eligibility verification and the proper determination of benefits for housing programs, to: (1) require an applicant or participant to disclose his or her social security or employee identification number; and (2) obtain access to wage and other information from State employment records maintained under the Social Security Act.

A bill to amend part A of title IV of the Social Security Act to reduce the need for emergency assistance payments to provide temporary housing for destitute and homeless AFDC families, and the expense of such payments, by authorizing grants to States for the construction or rehabilitation of permanent housing that such families can afford with their regular AFDC payments.

United States · United States Congress · 24 June 1986

Amends part A (Aid to Families with Dependent Children) of title IV of the Social Security Act to authorize the Secretary of Health and Human Services to make grants to States for the construction and rehabilitation of permanent housing for rental to AFDC recipients who would otherwise require AFDC emergency assistance in the form of temporary housing. Requires that such grants be used to provide permanent housing which is: (1) owned by the State, an instrumentality of the State, or a nonprofit organization; (2) available to families who have been unable to find decent nontemporary housing at rents that can be paid with AFDC aid for shelter; and (3) located in jurisdictions experiencing a critical shortage of such housing. Requires that: (1) the costs of providing permanent housing be lower than costs which would be incurred if, instead, the State made AFDC emergency assistance payments providing temporary housing; and (2) the most costly temporary housing be retired from use in the emergency assistance program as permanent housing becomes available for occupancy, unless temporary housing is demonstrably needed. Sets the State contribution to the cost of constructing or rehabilitating such housing at the greater of 50 percent or the current State AFDC share increased by ten percent.

A bill to amend the National Housing Act to provide the Secretary of Housing and Urban Development with permanent authority to insure mortgages on single-family dwellings.

United States · United States Congress · 17 June 1986

Amends the National Housing Act to provide the Secretary of Housing and Urban Development with permanent authority to insure mortgages on single-family dwellings.

A joint resolution to provide for the temporary extension of certain programs relating to housing and community development, and for other purposes.

United States · United States Congress · 17 June 1986

Amends the National Housing Act to extend authority through FY 1987 for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) homeownership for lower income families including mortgage insurance authority and housing stimulus authority; (5) mortgage co-insurance, including rental rehabilitation and development projects; (6) graduated payment and indexed mortgage insurance; (7) the demonstration mortgage reinsurance program; (8) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (9) mortgage insurance for land development; and (10) mortgage insurance for medical and dental group practice facilities. Sets forth specified limits on FY 1986 and 1987 insured housing loans and on FY 1987 guaranteed mortgage-backed securities. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through FY 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through FY 1987 for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; (2) rural communities with 10,000 to 20,000 population to participate in rural housing programs; and (3) mutual and self-help housing grant and loan authority. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones through FY 1987. Amends the National Housing Act to extend authorities for the national crime insurance program and existing contracts through FY 1987. Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through FY 1987. Amends the Housing and Urban-Rural Recovery Act of 1983 to extend for 30 days the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families through FY 1987. Extends the Home Mortgage Disclosure Act through FY 1987.

A bill to amend title 38, United States Code, to authorize the Administrator of the Veterans' Administration to make direct low-interest loans to veterans eligible for specially adapted housing assistance.

United States · United States Congress · 11 June 1986

Authorizes the Administrator of Veterans Affairs to make direct low-interest loans to veterans eligible for specially adapted housing assistance.

A joint resolution to provide for the temporary extension of certain programs relating to housing and community development, and for other purposes.

United States · United States Congress · 11 June 1986

Amends the National Housing Act to extend authority through June 27, 1986, for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) homeownership for lower income families including mortgage insurance authority and housing stimulus authority; (5) mortgage co-insurance, including rental rehabilitation and development projects; (6) graduated payment and indexed mortgage insurance; (7) the demonstration mortgage reinsurance program; (8) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (9) mortgage insurance for land development; and (10) mortgage insurance for medical and dental group practice facilities. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through June 27, 1986. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through June 27, 1986, for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; (2) rural communities with 10,000 - 20,000 population to participate in rural housing programs; and (3) mutual and self-help housing grant and loan authority. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones, through June 27, 1986. Amends the National Housing Act to extend authority for the national crime insurance program through June 27, 1986. Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through June 27, 1986. Amends the Housing and Urban-Rural Recovery Act of 1983 to extend the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families through June 27, 1986. Extends the Home Mortgage Disclosure Act through June 27, 1986.

Housing Act of 1986

United States · United States Congress · 29 May 1986

Housing Act of 1986 - Title I: Program Extensions and Amendments - Subtitle A: General Extension of Programs - Amends the National Housing Act to extend authority through September 30, 1987, for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) mortgage co-insurance, including rental rehabilitation and development projects; (5) graduated payment and indexed mortgage insurance; (6) the demonstration mortgage reinsurance program; (7) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (8) mortgage insurance for land development; and (9) mortgage insurance for medical and dental group practice facilities. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through September 30, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through September 30, 1987, for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; and (2) mutual and self-help housing grant and loan authority. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones through September 30, 1987. Limits premium increases through such period to not more than a prorated annual of ten percent. Amends the Housing and Urban-Rural Recovery Act of 1983 to extend indefinitely the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families. Extends the Home Mortgage Disclosure Act of 1975 through September 30, 1990. Subtitle B: Mortgage Insurance and Secondary Mortgage Market Programs - Amends the National Housing Act to set premium charge limits for Federal Housing Administration (FHA) mortgage insurance. Requires the Secretary of Housing and Urban Development to certify to the Congress 90 days prior to any fee increase that such increase is solely for the purpose of meeting anticipated insurance claims and administrative expenses. Raises FHA multi-family mortgage limits. Requires States, in order to apply for FHA refinancing mortgage insurance for health care facilities, to: (1) conduct a marketwide assessment of the need for such a facility; (2) obtain an independent feasibility study for such a facility; and (3) report the results of such studies to the Secretary. Makes nursing homes, intermediate care facilities, and board and care homes eligible for such refinancing. Makes public nursing homes, intermediate care facilities, and board and care homes eligible for mortgage insurance. Requires State reports similar to those required for mortgage refinancing for public nursing home and hospital mortgage insurance. Authorizes city and State housing authorities to use unexpended low-income rental and cooperative housing funds for interest and rental assistance payments if so agreed to by the housing authorities and the Department of Housing and Urban Development (HUD). Increases FHA authority to insure adjustable rate single-family mortgages. Prohibits the imposition of user fees on Government-sponsored secondary mortgage market agencies. Directs the Secretary to take appropriate administrative actions to reduce losses on mortgage insurance programs. Authorizes the Secretary to require mortgagees and lenders to report the taxpayer identification numbers of National Housing Act borrowers. Requires mortgagees with high default rates to submit reports, including proposed corrective steps, to the Secretary. Transfers mortgage insurance programs for Hawaiian homelands and Indian lands from the Mutual Mortgage Insurance Fund to the General Insurance Fund of the Treasury. Makes the rule revising regulations under title I of the National Housing Act, which was published October 25, 1985, and which became effective on January 15, 1986, ineffective until January 1, 1987. Subtitle C: Community and Neighborhood Development and Conservation Programs - Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through September 30, 1987. Reduces FY 1988 grants by 50 percent to any such entity that loses its entitlement classification, with the remaining 50 percent allocated to the small city community development program (for which such entity would be eligible). Considers the counties of Kauai, Maui, and Hawaii in the State of Hawaii as cities for purposes of the urban development action grant (UDAG) program. Authorizes FY 1987 appropriations for UDAG. Modifies UDAG selection criteria so that: (1) 65 percent of such grants are awarded on the basis of distress, impact, and project quality; and (2) 35 percent on project quality alone. Awards bonus points for certain cities that have not received a grant since October 15, 1984. Requires the Comptroller General to: (1) report to the Congress within six months, and every three years thereafter, regarding such selection criteria and eligibility standards; and (2) report to the Congress within three months of the final FY 1986 grant competition regarding targeting of grants, geographic distribution, funding levels, and economic development. Prohibits relocating a business from one UDAG area to another unless the Secretary determines that no adverse effect will result. Authorizes FY 1987 appropriations for the: (1) community development block grant program; and (2) urban homesteading program. Amends the Housing Act of 1964 to prohibit risk premiums or loan fees under the rehabilitation loan program. Amends the Neighborhood Reinvestment Corporation Act to authorize FY 1987 appropriations for the Neighborhood Reinvestment Corporation. Amends the Housing and Urban-Rural Recovery Act of 1983 to authorize FY 1986 and 1987 appropriations for the neighborhood development demonstration program. Subtitle D: Miscellaneous Program Amendments - Amends the National Flood Insurance Act to authorize FY 1986 and 1987 appropriations for flood insurance program studies. Amends the Solar Energy and Energy Conservation Bank Act to authorize FY 1986 and 1987 appropriations for residential and commercial solar energy improvement. Amends the Housing and Urban Development Act of 1970 to authorize FY 1986 and 1987 appropriations for housing research and project development. Title II: Housing Assistance - Subtitle A: Programs Under United States Housing Act of 1937 - Amends the United States Housing Act of 1937 to authorize FY 1986 and 1987 budget authority for lower income housing. Permits recaptured development funds for Indian housing to be reused. Requires: (1) 15-year terms for annual contributions contracts for (section 8) existing dwellings; (2) administrative and preliminary fees to be calculated according to the method in effect prior to January 1, 1985; and (3) an annual adjustment of fair market rents as of October 1 of each year. Authorizes FY 1986 and 1987 appropriations for the rental rehabilitation and development program. Extends eligibility to housing which is owned by State or locally chartered neighborhood nonprofit organizations. Authorizes the Secretary to require HUD applicants or participants to provide social security or employer identification numbers in order to verify eligibility. Permits residents of public housing projects to form resident management corporations. Requires such corporations to obtain fidelity bonding and insurance and have their records audited annually. Authorizes such projects to receive comprehensive improvement assistance. Provides for: (1) retention of excess revenues; and (2) resident management technical assistance and training. Subtitle B: Other Housing Assistance Programs - Amends the Housing and Community Development Amendments of 1978 to direct the Secretary in acquiring insured multifamily housing projects to comply with the goals of such Act in determining bid amounts. Requires tenant notice and comment when HUD: (1) approves a transfer of physical assets, or a capital improvement loan; or (2) proposes to sell a mortgage secured by a multifamily housing project. Prohibits subsidized project owners from discriminating against certificate or voucher holders solely because of the status of such prospective tenant as the holder of a certificate or voucher. Amends the Housing Act of 1959 to authorize FY 1986 and 1987 appropriations for housing for the elderly or the handicapped. Bases interest rates on the most recently issued 30-year Treasury obligations. Requires that at least 15 percent of annual appropriations for such elderly or handicapped housing be allocated for the nonelderly handicapped. Directs the Secretary to establish new and more appropriate housing and related service options for the nonelderly handicapped. Replaces the existing subsidy system with a 240-month contract to cover actual costs not covered by project income. Provides for the continued commitment of certain funds for the homeownership program. Amends the Congregate Housing Services Act of 1978 to authorize FY 1986 and 1987 appropriations for congregate services. Title III: Rural Housing - Amends the Housing Act of 1949 to extend rural housing insurance and guaranty authority through FY 1987. (Sets forth limits on such authority for FY 1986 and 1987.) Authorizes FY 1987 appropriations for: (1) rehabilitation grants; (2) structural rehabilitation; (3) the meeting of obligations issued under the rural housing insurance fund; (4) farm labor housing; (5) self-help housing; (6) housing preservation; and (7) administrative costs. Authorizes the Secretary, as approved in FY 1986 and 1987 appropriations, to enter into rental assistance payment contracts. Extends the 10,000-20,000 population rural area classification date to September 30, 1987. Establishes a conventional financing demonstration program under the single-family rural housing program. Limits such program to not more than 200 units in each of five geographic regions. Authorizes the Secretary to use such demonstration projects for multifamily housing. Requires the Department of Agriculture to make or insure loans for rural manufactured homes for the same time period applicable under section 2 of the National Housing Act. Provides that rural housing assistance shall be available to single persons who are elderly, handicapped, or paying at least 50 percent of their income for rent. Title IV: Shelter Program - Part A: General Provisions - Emergency Food and Shelter Act of 1986 - Establishes within HUD the Emergency Food and Shelter Program National Board. Directs the Secretary to enter into an interagency agreement with the Federal Emergency Management Agency (FEMA) to constitute and administer such Board. Terminates such Board as of October 1, 1991. States that such Board shall be made up of persons from specified private groups and Federal agencies. Establishes local boards to determine fund distribution. Directs FEMA to provide the Board with administrative and liaison services. Provides for: (1) an annual Board audit; (2) access to recipient records; and (3) an annual report to the Congress. Part B: Emergency Food and Shelter Grants - Directs the Secretary to award a grant to the Board in the full amount appropriated for the emergency food and shelter program. Sets forth grant purposes and program guidelines. Limits administrative costs. Authorizes FY 1987 and 1988 appropriations. Permits unobligated funds to be carried over to the next fiscal year. Part C: Transitional Housing Demonstration Program - Directs the Secretary to establish a demonstration program to provide housing and support services for the homeless, focusing on those persons capable of moving into traditional housing and independent living. Authorizes assistance as: (1) non-interest bearing advances up to $20,000 to obtain or rehabilitate housing; (2) annual payments of up to 75 percent of operating costs; and (3) technical assistance. Directs the Secretary to forgive advance repayment if: (1) the structure is used as housing for the homeless for at least ten years; or (2) the Secretary finds there is no longer a housing need and the structure is used for another charitable purpose for the remainder of such ten-year period. Directs the Secretary to: (1) establish application procedures and selection criteria; (2) issue program guidelines within 180 days and to publish annual guidelines; and (3) issue an interim report within three months after the end of FY 1987 and a final report within six months after the end of FY 1988. States that occupants shall pay rent in accordance with section 3 (a) of the Housing Act of 1937. Authorizes FY 1987 appropriations. Limits FY 1987 budget authority to $10,000,000. Subtitle D: Emergency Shelter Grants Program - Directs the Secretary to establish an emergency shelter grant program for: (1) renovation and conversion of buildings as emergency shelters; (2) provision of essential services; and (3) shelter maintenance and operation. Directs the Secretary to allocate grants to States, metropolitan cities, and urban counties under the same formula used for the community block grant program. States that if a metropolitan city or urban county would receive a fiscal year grant of less than $30,000, such sum shall instead be reallocated to the State. Authorizes local governments to distribute such grants to nonprofit organizations. Sets forth a reallocation procedure for unused grant funds. Requires grantees to provide matching funds and a certification of use. Authorizes FY 1987 appropriations. Title V: Nehemiah Housing Opportunity Grants - Authorizes the Secretary to make grants to nonprofit organizations for non-interest bearing second mortgages for new or rehabilitated homes. Sets maximum loans at $15,000. Requires at least a ten percent downpayment. Prohibits leasing. Sets family income eligibility at not more than the greater of: (1) 115 percent of the local metropolitan median income for a family of four; or (2) the national median income for a family of four. Sets forth criteria for: (1) grant selection; and (2) conditions of assistance. Establishes in the Treasury the Nehemiah Housing Opportunity Fund. Requires an annual report to the Congress. Authorizes FY 1986 and 1987 appropriations. Title VI: Fair Housing - Authorizes the Secretary to enter into contracts or cooperative agreements with public or private entities for programs to prevent or eliminate discriminatory housing practices. Authorizes FY 1986 and 1987 appropriations.

J. Michael Dorsey, of Missouri, to be an Assistant Secretary of Housing and Urban Development, vice Warren T. Lindquist, resigned.

United States · United States Senate · 21 May 1986

An original joint resolution to provide for the extension of certain programs relating to housing and community development, and for other purposes.

United States · United States Congress · 21 May 1986

Amends the National Housing Act to extend authority through September 30, 1987, for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) homeownership for lower income families including mortgage insurance authority and housing stimulus authority; (5) mortgage co-insurance, including rental rehabilitation and development projects; (6) graduated payment and indexed mortgage insurance; (7) the demonstration mortgage reinsurance program; (8) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (9) mortgage insurance for land development; and (10) mortgage insurance for medical and dental group practice facilities. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through September 30, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration Authority through September 30, 1987, for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; (2) rural communities with 10,000 - 20,000 population to participate in rural housing programs; and (3) mutual and self-help housing grant and loan authority. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones, through September 30, 1987. Amends the National Housing Act to extend authority for the national crime insurance program through September 30, 1987. Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through September 30, 1987. Amends the Housing and Urban-Rural Recovery Act of 1983 to extend the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families through September 30, 1987. Extends the Home Mortgage Disclosure Act through September 30, 1987.

A bill to provide a rental housing lease indemnity program by the Department of Defense.

United States · United States Congress · 15 May 1986

Directs the Secretary of Defense to establish a pilot rental housing lease indemnity program under which the Secretary of each military department will guarantee to a lessor the lease payment of any member of such department, as well as any breach of the lease or damage to the rental unit. Requires such pilot program to be established within 90 days after the enactment of this Act, but not before October 1, 1986. Requires each Secretary to designate one military installation within the Secretary's jurisdiction for participation in such pilot program. Authorizes each Secretary to enter into agreements with rental unit lessors in order to carry out this Act. Outlines provisions to be included in such agreements. Authorizes any Secretary who compensates a lessor under this Act to garnish the wages of the member involved for an amount equal to the compensation paid to the lessor. Directs the Secretary of Defense, within 18 months following the establishment of such pilot program, to report to the Congress concerning the findings, conclusions, and recommendations of such program. Terminates the authority of any Secretary to enter into lease guarantee agreements with lessors under this Act 18 months after the establishment of the program.

A bill to amend title 37, United States Code, to repeal a limitation on the total amount of basic allowance for quarters and variable housing allowance to a member of the uniformed services.

United States · United States Congress · 13 May 1986

Amends Federal law relating to the pay and allowances of the uniformed services to repeal a cap on military housing cost payments.

Housing Income Verification Act of 1986

United States · United States Congress · 13 May 1986

Housing Income Verification Act of 1986 - Authorizes the Secretary of Housing and Urban Development to require Department of Housing and Urban Development program applicants or participants to disclose their social security or employer identification numbers. Authorizes the Secretary to use information provided by program applicants or participants to verify eligibility or benefit levels. Requires that such persons be afforded notification, privacy of individually identifiable information, and independent verification of information.

A joint resolution to designate the week beginning June 1, 1986, as "National Neighborhood Housing Services Week".

United States · United States Congress · 12 May 1986

Designates the week beginning on June 1, 1986, as National Neighborhood Housing Services Week.

A bill to require the transfer of jurisdiction to the District of Columbia over certain property to permit such property to be used as a shelter for the homeless.

United States · United States Congress · 8 May 1986

Requires the Administrator of General Services to transfer jurisdiction over 425 Second Street, N.W., in the District of Columbia to the government of the District of Columbia for the purpose of providing shelter and related services to homeless individuals.

A resolution providing for the consideration of the bill (H. R. 1) to amend and extend certain laws relating to housing, and for other purposes.

United States · United States Congress · 8 May 1986

Sets forth the rule for the consideration of H.R. 1 (housing programs).

Housing Act of 1986

United States · United States Congress · 7 May 1986

Housing Act of 1986 - Title I: Program Extensions and Amendments - Subtitle A: General Extension of Programs - Amends the National Housing Act to extend authority through September 30, 1987, for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) mortgage co-insurance, including rental rehabilitation and development projects; (5) graduated payment and indexed mortgage insurance; (6) the demonstration mortgage reinsurance program; (7) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (8) mortgage insurance for land development; and (9) mortgage insurance for medical and dental group practice facilities. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through September 30, 1987, for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; and (2) mutual and self-help housing grant and loan authority. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones through September 30, 1987. Amends the Housing and Urban-Rural Recovery Act of 1983 to extend through September 30, 1987, the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families. Subtitle B: Mortgage Insurance and Secondary Mortgage Market Programs - Amends the National Housing Act to direct the Secretary of Housing and Urban Development (Secretary) to enter into fiscal year mortgage insurance commitments with an aggregate principal amount equal to (but no more than) the amount provided in appropriation Acts. Sets premium charge limits for Federal Housing Administration (FHA) mortgage insurance. Requires the Secretary to certify to the Congress 90 days prior to any fee increase that such increase is solely for the purpose of meeting anticipated insurance claims and administrative expenses. Increases FHA authority to insure adjustable rate single family mortgages. Amends the Federal National Mortgage Association Charter Act to extend authority through FY 1987 for the Federal National Mortgage Association mortgage-backed securities program. Prohibits (with specified exceptions) the imposition of user fees on Government sponsored secondary mortgage market agencies. Subtitle C: Community and Neighborhood Development and Conservation Programs - Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through September 30, 1986. Reduces grants by 50 percent to any such entity that loses its entitlement classification, with the remaining 50 percent allocated to the small city community development program (for which such entity would be eligible). Considers the counties of Kauai, Maui, and Hawaii in the State of Hawaii as cities for purposes of the urban development action grant (UDAG) program. Authorizes FY 1987 appropriations for: (1) UDAG; (2) urban homesteading; and (3) community development block grants. Obligates specified FY 1987 funds for the discretionary fund. Terminates the loan guarantee program as of October 1, 1986, or the date of enactment of this Act, whichever occurs later. Modifies UDAG selection criteria. Amends the Neighborhood Reinvestment Corporation Act to authorize FY 1987 appropriations for the Neighborhood Reinvestment Corporation. Terminates the Housing Act of 1964 rehabilitation loan program (urban renewal) as of October 1, 1986, or the date of enactment of this Act, whichever occurs later. Subtitle D: Miscellaneous Program Amendments - Amends the Housing and Urban Development Act of 1970 to authorize FY 1987 appropriations for housing research and project development. Amends the Housing and Urban Development Act of 1966 to authorize FY 1987 appropriations for low- and moderate- income housing counseling and technical advice. Amends the National Flood Insurance Act of 1968 to authorize FY 1987 appropriations for flood insurance program studies. Terminates the crime insurance program. Amends the Home Mortgage Disclosure Act of 1975 to exempt depository institutions with $25,000,000 (currently $10,000,000) or less in total fiscal year assets from the provisions of such Act. Directs the Secretary to report to the Congress within six months on 1981 through 1985 manufactured home inspection fees. Authorizes the Secretary to require HUD applicants or participants to provide social security or employer identification numbers in order to verify eligibility. Title II: Housing Assistance - Subtitle A: Programs Under United States Housing Act of 1937 - Amends the United States Housing Act of 1937 to authorize FY 1987 budget authority for lower income housing. Authorizes public housing agencies (PHAs) to set tenant rent contributions for a five-year period. Sets maximum and minimum rent levels. Provides a six-month phase-in for public housing rent increases due to a resident's obtaining employment. Authorizes grants to PHAs for: (1) public housing project development costs; and (2) comprehensive improvement assistance. Requires: (1) 15-year terms for annual contributions contracts for (section 8) existing dwellings; (2) administrative and preliminary fees to be calculated according to the method in effect prior to January 1, 1985; and (3) an annual adjustment of fair market rents as of October 1 of each year. Directs the Secretary to provide payments for operating lower income housing projects through a performance funding system. Authorizes FY 1987 appropriations. Authorizes FY 1987 appropriations for rental rehabilitation grants. Terminates the housing development grant program as of October 1, 1986, or the date of enactment of this Act, whichever occurs later. Authorizes public housing comprehensive grants to improve the physical condition of existing projects and upgrade their management and operation. Authorizes FY 1987 through 1989 appropriations. Permits residents of public housing projects (with the assistance of a public housing management specialist) to form resident management corporations. Requires such corporations to obtain fidelity bonding and insurance. Provides for: (1) waiving of certain statutory and regulatory requirements; (2) rentention of excess revenues; and (3) resident management technical assistance and training. Sets forth conditions for PHA financial assistance. Subtitle B: Other Housing Assistance Programs - Amends the Housing Act of 1959 to authorize FY 1987 appropriations for housing for the elderly or the handicapped. Requires that at least 15 percent of annual appropriations for such elderly or handicapped housing be allocated for the nonelderly handicapped. Directs the Secretary to establish new and more appropriate housing and related service options for the nonelderly handicapped. Replaces the existing subsidy system with a 240-month contract to cover actual costs not covered by project income. Amends the Congregate Services Act of 1978 to authorize FY 1987 appropriations for congregate services. Title III: Rural Housing - Amends the Housing Act of 1949 to extend rural housing insurance and guaranty authority through FY 1987. Authorizes FY 1987 appropriations for farm labor housing. Authorizes the Secretary, as approved in FY 1987 appropriations, to enter into rental assistance payment contracts. Extends authority through FY 1987 for the Self-Help Housing Land Development Fund. Extends the 10,000 to 20,000 population rural area classification date to September 30, 1986. Provides that maximum income levels for rural housing programs in the Virgin Islands shall be the same as those for Guam, American Samoa, the Northern Mariana Islands, and the Trust Territory of the Pacific Islands. Directs the Secretary to establish rural housing escrow accounts. Title IV: Shelter Assistance for the Homeless and Displaced - Subtitle A: Emergency Food and Shelter Program - Homeless Housing Assistance Act of 1986 - Requires the Director of the Federal Emergency Management Agency (FEMA) to constitute an emergency food and shelter program national board of volunteer agencies together with FEMA. Directs the Secretary to constitute a similar board by September 30, 1986. Transfers, as of such date, the personnel, property, records, and undistributed program funds of the FEMA board to the Emergency Food and Shelter Program National Board. States that such boards shall distribute program funds to localities (which shall constitute local boards) with the greatest need for emergency food and housing assistance. Requires the local board to submit to the national board an annual local homeless housing assistance plan. Limits administrative costs to not more than three percent of appropriations. Authorizes FY 1987 appropriations. Subtitle B: Emergency Shelter Grants Program - Directs the Secretary to establish an emergency shelter grant program for: (1) renovation and conversion of buildings as emergency shelters; (2) provision of essential services; and (3) shelter maintenance and operation. Directs the Secretary to allocate grants to States, metropolitan cities, and urban counties under the same formula used for the community block grant program. States that if a metropolitan city or urban county would receive a fiscal year grant of less than $30,000, such sum shall instead be reallocated to the State. Authorizes local governments to distribute such grants to nonprofit organizations. Requires grantees to provide matching funds and a certification of use. Authorizes FY 1987 appropriations

A bill to amend title 38, United States Code, to provide an exemption for the veterans' housing loan programs from any provision of law providing for the sequestration of budget authority generally throughout the Federal Government, and for other purposes.

United States · United States Congress · 7 May 1986

Amends Federal law relating to veterans' home loans to exempt such loans from any spending reduction order issued under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) or any other such legislation. Revises provisions concerning the definition and treatment of certain administrative expenses in connection with the Veterans' Administration Loan Guaranty Revolving Fund.

Housing Act of 1986

United States · United States Congress · 5 May 1986

Housing Act of 1986 - Title I: Program Extensions and Amendments - Subtitle A: General Extension of Programs - Amends the National Housing Act to extend authority through September 30, 1987, for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) homeownership for lower income families including mortgage insurance authority and housing stimulus authority; (5) mortgage co-insurance, including rental rehabilitation and development projects; (6) graduated payment and indexed mortgage insurance; (7) the demonstration mortgage reinsurance program; (8) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (9) mortgage insurance for land development; and (10) mortgage insurance for medical and dental group practice facilities. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through September 30, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through September 30, 1987, for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; and (2) mutual and self-help housing grant and loan authority. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones through September 30, 1987. Amends the National Housing Act to extend authority for the national crime insurance program through September 30, 1987. Amends the Housing and Urban-Rural Recovery Act of 1983 to extend indefinitely the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families. Extends the Home Mortgage Disclosure Act through September 30, 1988. Subtitle B: Mortgage Insurance and Secondary Mortgage Market Programs - Amends the National Housing Act to set premium charge limits for Federal Housing Administration (FHA) mortgage insurance. Makes the Allegany reservation of the Seneca Nation of New York Indians eligible for single family mortgage insurance. Increases FHA authority to insure adjustable rate single family mortgages. Limits fiscal year loan insurance authority to amounts appropriated for such purpose. Prohibits (with specified exceptions) the imposition of user fees on Government sponsored secondary mortgage market agencies. Subtitle C: Community and Neighborhood Development and Conservation Programs - Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through September 30, 1986. Reduces grants by 50 percent to any such entity that loses its entitlement classification, with the remaining 50 percent allocated to the small city community development program (for which such entity would be eligible). Considers the counties of Kauai, Maui, and Hawaii in the State of Hawaii as cities for purposes of the urban development action grant (UDAG) program. Authorizes FY 1987 appropriations for: (1) UDAG; and (2) community development block grants. Obligates specified funds for assistance to minority or underprivileged undergraduates or graduates enrolled in community development programs. Modifies UDAG selection criteria so that 65 percent of such grants are awarded on the basis of distress, impact, and project quality, and 35 percent on project quality alone. Awards bonus points for certain cities that have not received a grant since October 15, 1984. Requires the Comptroller General to report to the Congress: (1) within six months, and every three years thereafter, regarding such selection criteria and eligibility standards; and (2) within three months of the final FY 1986 grant competition regarding targeting of grants, geographic distribution, funding levels, and economic development. Prohibits relocating a business from one UDAG area to another unless the Secretary determines that no adverse effect will result. Authorizes the City of Boston, Massachusetts, to use specified urban renewal land disposition proceeds. Authorizes FY 1986 and 1987 appropriations for the urban homesteading program. Amends the Housing Act of 1964 to prohibit risk premiums or loan fees under the rehabilitation loan program. Amends the Neighborhood Reinvestment Corporation Act to authorize FY 1986 and 1987 appropriations for the Neighborhood Reinvestment Corporation. Amends the Housing and Community Development Act of 1974 to obligate specified FY 1986 budget authority for the Park Central New Community Project. Amends the Housing and Urban-Rural Recovery Act of 1983 to authorize FY 1986 and 1987 appropriations for the neighborhood development demonstration program. Subtitle D: Miscellaneous Program Amendments - Amends the National Flood Insurance Act to authorize FY 1986 and 1987 appropriations for flood insurance program studies. Authorizes: (1) grants for a fair housing initiatives program; and (2) FY 1986 and 1987 appropriations for such program. States that it is U.S. policy to ensure the timely payment of Department of Housing and Urban Development (HUD) subcontractors. Amends the Solar Energy and Energy Conservation Bank Act to authorize FY 1986 and 1987 appropriations for residential and commercial solar energy improvements. Amends the Housing and Urban Development Act of 1970 to authorize FY 1986 and 1987 appropriations for housing research and project development. Title II: Housing Assistance - Subtitle A: Programs Under United States Housing Act of 1937 - Amends the United States Housing Act of 1937 to authorize FY 1986 and 1987 budget authority for lower income housing. Permits recaptured development funds for Indian housing to be reused. Authorizes public housing agencies (PHAs) to set tenant rent contributions. Sets maximum and minimum rent levels. Authorizes grants to PHAs for public housing project development costs. Requires: (1) 15-year terms for annual contributions contracts for existing (section 8) dwellings; (2) administrative and preliminary fees to be calculated according to the method in effect prior to January 1, 1985; and (3) an annual adjustment of fair market rents as of October 1 of each year. Directs the Secretary to provide payments for operating lower income housing projects through a performance funding system. Authorizes FY 1987 appropriations. Authorizes the Secretary to make comprehensive improvement grants to PHAs. Authorizes FY 1986 and 1987 appropriations for the rental rehabilitation and development program. Requires the Secretary to determine that a project is obsolete and no modification plan is feasible in order to demolish such project. Prohibits any such demolition without a one-for-one replacement plan (unless such housing is not locally needed, or if project-based housing assisted under section 8 of such Act is to be substituted). Prohibits the accrual of interest on certain public housing development funds advanced to Pittsburgh, Pennsylvania. Authorizes public housing comprehensive grants to improve the physical condition of existing projects and upgrade their management and operation. Authorizes FY 1987 through 1989 appropriations. Subtitle B: Multifamily Housing Management and Preservation - Amends the National Housing Act to repeal a specified multifamily mortgage prepayment provision. Amends the Housing and Community Development Amendments of 1978 regarding the management and preservation of HUD-owned multifamily housing projects. Provides for tenant participation in the elderly and handicapped housing program. Prohibits subsidized project owners from discriminating against certificate or voucher holders solely because of the status of such a prospective tenant as the holder of a certificate or voucher. Subtitle C: Other Housing Assistance Programs - Amends the Housing Act of 1959 to authorize FY 1986 and 1987 appropriations for housing for the elderly or the handicapped. Requires that at least 15 percent of annual appropriations for such elderly or handicapped housing be allocated for the nonelderly handicapped. Directs the Secretary to establish new and more appropriate housing and related service options for the nonelderly handicapped. Replaces the existing subsidy system with a 240-month contract to cover actual costs not covered by project income. Amends the Congregate Services Act of 1978 to authorize FY 1986 and 1987 appropriations for congregate services. Title III: Rural Housing - Amends the Housing Act of 1949 to extend rural housing insurance and guaranty authority through FY 1987. Authorizes FY 1986 and 1987 appropriations for: (1) rehabilitation grants; (2) structural rehabilitation; (3) meeting obligations issued under the rural housing insurance fund; (4) farm labor housing; (5) self-help housing; (6) housing preservation; and (7) administrative costs. Authorizes the Secretary, as approved in FY 1986 and 1987 appropriations, to enter into rental assistance payment contracts. Extends the 10,000-20,000 population rural area classification date to September 30, 1987. Provides that maximum income levels for rural housing programs in the Virgin Islands shall be the same as those for Guam, American Samoa, the Northern Mariana Islands, and the Trust Territory of the Pacific Islands. Directs the Secretary to establish rural housing escrow accounts. Title IV: Shelter Assistance for the Homeless and Displaced - Establishes in HUD the National Emergency Food and Shelter Board. Terminates the existing national board of charities and transfers its personnel, property, and funds to such Board, which shall continue the emergency food and shelter program. Directs the Board to coordinate its activities with the Federal Interagency Task Force on Food and Shelter. Directs the Board to carry out a demonstration program to determine the effectiveness of assisting nonprofit organizations in providing housing and support services for the homeless. Limits FY 1986 and 1987 budget authority for such program. Directs the Board, to the extent approved in appropriation Acts, to provide emergency shelter grant assistance. Provides for State allocation of grants of less than $30,000. Requires grantees to provide matching funds. Authorizes FY 1986 and 1987 appropriations. Requires interim and final reports to the Congress. Title V: Nehemiah Housing Opportunity Grants - Authorizes the Secretary to provide grant assistance to nonprofit organizations to carry out a Nehemiah housing opportunity program. Limits maximum per home assistance to $15,000. Establishes in the Treasury the Nehemiah Housing Opportunity Fund. Requires an annual program report to the Congress. Authorizes FY 1986 and 1987 appropriations.

A resolution to express the sense of the House of Representatives that proposals to assess or increase fees on the credit activities of Federal housing and education agencies should be rejected.

United States · United States Congress · 1 May 1986

Expresses the sense of the House of Representatives that proposals to assess or increase fees on the credit activities of specified Federal housing and student loan authorities (including the Veterans Administration) should be rejected.

Housing Act of 1986

United States · United States Congress · 23 April 1986

Housing Act of 1986 - Title I: Program Extensions and Amendments - Subtitle A: General Extension of Programs - Amends the National Housing Act to extend authority through September 30, 1987, for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) homeownership for lower income families including mortgage insurance authority and housing stimulus authority; (5) mortgage co-insurance, including rental rehabilitation and development projects; (6) graduated payment and indexed mortgage insurance; (7) the demonstration mortgage reinsurance program; (8) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (9) mortgage insurance for land development; and (10) mortgage insurance for medical and dental group practice facilities. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through September 30, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through September 30, 1987, for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; and (2) mutual and self-help housing grant and loan authority. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones through September 30, 1987. Amends the National Housing Act to extend authority for the national crime insurance program through September 30, 1987. Amends the Housing and Urban-Rural Recovery Act of 1983 to extend indefinitely the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families. Extends the Home Mortgage Disclosure Act through September 30, 1988. Subtitle B: Mortgage Insurance and Secondary Mortgage Market Programs - Amends the National Housing Act to set premium charge limits for Federal Housing Administration (FHA) mortgage insurance. Makes the Allegany Reservation of the Seneca Nation of New York Indians eligible for single family mortgage insurance. Increases FHA authority to insure adjustable rate single family mortgages. Limits fiscal year loan insurance authority to amounts appropriated for such purpose. Prohibits (with specified exceptions) the imposition of user fees on Government sponsored secondary mortgage market agencies. Subtitle C: Community and Neighborhood Development and Conservation Programs - Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through September 30, 1986. Reduces grants by 50 percent to any such entity that loses its entitlement classification, with the remaining 50 percent allocated to the small city community development program (for which such entity would be eligible). Considers the counties of Kauai, Maui, and Hawaii in the State of Hawaii as cities for purposes of the urban development action grant (UDAG) program. Authorizes FY 1987 appropriations for: (1) UDAG; and (2) community development block grants. Modifies UDAG selection criteria so that 65 percent of such grants are awarded on the basis of distress, impact, and project quality, and 35 percent on project quality alone. Awards bonus points for certain cities that have not received a grant since October 15, 1984. Requires the Comptroller General to report to the Congress: (1) within six months, and every three years thereafter, regarding such selection criteria and eligibility standards; and (2) within three months of the final FY 1986 grant competition regarding targeting of grants, geographic distribution, funding levels, and economic development. Prohibits relocating a business from one UDAG area to another unless the Secretary determines that no adverse effect will result. Authorizes the City of Boston, Massachusetts, to use specified urban renewal land disposition proceeds. Authorizes FY 1986 and 1987 appropriations for the urban homesteading program. Amends the Housing Act of 1964 to prohibit risk premiums or loan fees under the rehabilitation loan program. Amends the Neighborhood Reinvestment Corporation Act to authorize FY 1986 and 1987 appropriations for the Neighborhood Reinvestment Corporation. Amends the Housing and Community Development Act of 1974 to obligate specified FY 1986 budget authority for the Park Central New Community Project. Amends the Housing and Urban-Rural Recovery Act of 1983 to authorize FY 1986 and 1987 appropriations for the neighborhood development demonstration program. Subtitle D: Miscellaneous Program Amendments - Amends the National Flood Insurance Act to authorize FY 1986 and 1987 appropriations for flood insurance program studies. Authorizes: (1) grants for a fair housing initiatives program; and (2) FY 1986 and 1987 appropriations for such program. Amends the Solar Energy and Energy Conservation Bank Act to authorize FY 1986 and 1987 appropriations for residential and commercial solar energy improvements. Amends the Housing and Urban Development Act of 1970 to authorize FY 1986 and 1987 appropriations for housing research and project development. Title II: Housing Assistance - Subtitle A: Programs Under United States Housing Act of 1937 - Amends the United States Housing Act of 1937 to authorize FY 1986 and 1987 budget authority for lower income housing. Permits recaptured development funds for Indian housing to be reused. Requires: (1) 15-year terms for annual contributions contracts for existing (section 8) dwellings; (2) administrative and preliminary fees to be calculated according to the method in effect prior to January 1, 1985; and (3) an annual adjustment of fair market rents as of October 1 of each year. Directs the Secretary to provide payments for operating lower income housing projects through a performance funding system. Authorizes FY 1987 appropriations. Authorizes the Secretary to make comprehensive improvement grants to PHAs. Authorizes FY 1986 and 1987 appropriations for the rental rehabilitation and development program. Requires the Secretary to determine that a project is obsolete and no modification plan is feasible in order to demolish such project. Prohibits any such demolition without a one-for-one replacement plan (unless such housing is not locally needed, or if project-based housing assisted under section 8 of such Act is to be substituted). Prohibits the accrual of interest on certain public housing development funds advanced to Pittsburgh, Pennsylvania. Subtitle B: Multifamily Housing Management and Preservation - Amends the National Housing Act to repeal a specified multifamily mortgage prepayment provision. Amends the Housing and Community Development Amendments of 1978 regarding the management and preservation of HUD-owned multifamily housing projects. Provides for tenant participation in the elderly and handicapped housing program. Prohibits subsidized project owners from discriminating against certificate or voucher holders solely because of the status of such a prospective tenant as the holder of a certificate or voucher. Subtitle C: Other Housing Assistance Programs - Amends the Housing Act of 1959 to authorize FY 1986 and 1987 appropriations for housing for the elderly or the handicapped. Requires that at least 15 percent of annual appropriations for such elderly or handicapped housing be allocated for the nonelderly handicapped. Directs the Secretary to establish new and more appropriate housing and related service options for the nonelderly handicapped. Replaces the existing subsidy system with a 240-month contract to cover actual costs not covered by project income. Amends the Congregate Services Act of 1978 to authorize FY 1986 and 1987 appropriations for congregate services. Title III: Rural Housing - Amends the Housing Act of 1949 to extend rural housing insurance and guaranty authority through FY 1987. Authorizes FY 1986 and 1987 appropriations for: (1) rehabilitation grants; (2) structural rehabilitation; (3) meeting obligations issued under the rural housing insurance fund; (4) farm labor housing; (5) self-help housing; (6) housing preservation; and (7) administrative costs. Authorizes the Secretary, as approved in FY 1986 and 1987 appropriations, to enter into rental assistance payment contracts. Extends the 10,000-20,000 population rural area classification date to September 30, 1987. Provides that maximum income levels for rural housing programs in the Virgin Islands shall be the same as those for Guam, American Samoa, the Northern Mariana Islands, and the Trust Territory of the Pacific Islands. Title IV: Shelter Assistance for the Homeless and Displaced - Establishes in HUD the National Emergency Food and Shelter Board. Terminates the existing national board of charities and transfers its personnel, property, and funds to such Board, which shall continue the emergency food and shelter program. Directs the Board to coordinate its activities with the Federal Interagency Task Force on Food and Shelter. Directs the Board to carry out a demonstration program to determine the effectiveness of assisting nonprofit organizations in providing housing and support services for the homeless. Limits FY 1986 and 1987 budget authority for such program. Directs the Board, to the extent approved in appropriation Acts, to provide emergency shelter grant assistance. Provides for State allocation of grants of less than $30,000. Requires grantees to provide matching funds. Authorizes FY 1986 and 1987 appropriations. Requires interim and final reports to the Congress. Title V: Nehemiah Housing Opportunity Grants - Authorizes the Secretary to provide grant assistance to nonprofit organizations to carry out a Nehemiah housing opportunity program. Limits maximum per home assistance to $15,000. Establishes in the Treasury the Nehemiah Housing Opportunity Fund. Requires an annual program report to the Congress. Authorizes FY 1986 and 1987 appropriations.

Community Development Block Grant Improvement Act of 1986

United States · United States Congress · 23 April 1986

Community Development Block Grant Improvement Act of 1986 - Amends the Housing and Community Development Act of 1974 to set minimum distribution requirements for home loans and loan guarantees for low and moderate income persons. Sets FY 1986 support levels as minimum levels for subsequent fiscal years. Increases income levels for purposes of defining low and moderate income. Defines "persons of very-low income." Requires community development block grant applications to be submitted to the Secretary of Housing and Urban Development prior to the receipt of any grant funds. Prohibits a grantee from using such funds in a manner that will result in the involuntary displacement of low- and moderate-income persons. Requires grant applications to include a neighborhood economic development strategy. Authorizes multiyear grants for nonentitlement areas.

A bill to permit certain funds granted to the city of Philadelphia, Pennsylvania, by the Economic Development Administration to continue to be used for economic development purposes in that city.

United States · United States Congress · 22 April 1986

Prohibits the deobligation of the grant made available to the city of Philadelphia, Pennsylvania, for the economic development of the American Street industrial corridor.

A bill to amend the National Flood Insurance Act of 1968 to permit individuals who are insured under such Act to cancel their flood insurance policies.

United States · United States Congress · 22 April 1986

Amends the National Flood Insurance Act of 1968 to permit insured individuals to cancel their flood insurance policies. States that a person who cancels a flood insurance policy shall be ineligible for such coverage for two years.

Urban Homestead Act of 1986

United States · United States Congress · 17 April 1986

Urban Homestead Act of 1986 - Amends the United States Housing Act of 1937 to provide homeownership and resident management opportunities for public housing families. Requires the formation of a resident management corporation as a condition for such ownership and management. Requires the Secretary of Housing and Urban Development to provide comprehensive improvement assistance to ensure that the physical condition, management, and operation of such projects are sufficient to encourage resident ownership. Directs the Secretary and the responsible public housing agency to provide ownership and management training and technical and educational assistance. Authorizes a homeownership association to purchase a public housing project after the Secretary determines that the association is prepared to manage and maintain the project with continued Federal assistance. Allows an eligible family to purchase a dwelling if the Secretary determines that such purchase will not interfere with the rights of other resident families or harm the efficient operation of the project. Requires the Secretary to continue to pay annual contributions to a project after such a purchase. Limits the purchase price for a project or unit to 25 percent of its fair market value. Lists alternative purchasing arrangements. Directs the agency to assist a purchase by making a loan to a family or association at an interest rate not exceeding 70 percent of the market interest rate. Requires any unit or project purchaser who sells such property before the expiration of five years to pay the public housing agency a specified percentage of the sale price. Prohibits the eviction of any resident family because of the sale of a project to a homeownership association. Authorizes the Secretary to: (1) help relocate any family which decides not to purchase its dwelling in a project where other units are purchased; or (2) provide such family with a housing voucher in order to obtain comparable alternative housing.