Housing

Indian Housing Act of 1988

United States · United States Congress · 21 December 1987

Indian Housing Act of 1987 - Amends the United States Housing Act of 1937 to authorize the Secretary of Housing and Urban Development to make loans to Indian housing authorities (IHA) for lower income housing projects. Authorizes the Secretary to make annual contributions to IHA projects to: (1) maintain their lower income character; and (2) provide operating funds. Provides that specified IHA-issued obligations shall be backed by the Secretary and federally nontaxable. Authorizes a comprehensive Indian housing grant program. Sets forth program provisions. Limits the percentage of housing under this Act available to other than very low-income families. Sets forth conditions for demolition of IHA projects.

A bill to prevent fraud and abuse in housing and urban development programs.

United States · United States Congress · 21 December 1987

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 Federal, State, local, or public housing administering agencies to independently verify such information before terminating or reducing any housing benefits. Establishes criminal and civil penalties for misuse of such information.

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 · 16 December 1987

Amends the National Housing Act to extend authority through March 15, 1988, 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 March 15, 1988. Amends the Housing Act of 1949 to extend Farmers Home Administration Authority through March 15, 1988, 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 15, 1988. Amends the National Housing Act to extend authority for the national crime insurance program through March 15, 1988. 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 15, 1988. 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 15, 1988. Extends the Home Mortgage Disclosure Act through March 15, 1988. Amends the Solar Energy and Energy Conservation Bank Act to extend the Solar Energy and Energy Conservation Bank through March 15, 1988. Amends the Federal National Mortgage Association Charter Act to extend the Federal National Mortgage Association's (Fannie Mae) authority to purchase secondary residential mortgages through March 15, 1988. Amends the Federal Home Loan Mortgage Corporation Act to extend the Federal Home Loan Mortgage Corporation's (Freddie Mac) authority to purchase secondary residential mortgages through March 15, 1988. Amends the National Housing Act to make permanent the limitation on the principal amount of mortgages that may be insured in any fiscal year under such Act. Amends Federal law to extend the moratorium on the prepayment of certain rural rental housing loans through March 15, 1988.

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 · 16 December 1987

Amends the National Housing Act to extend authority through March 15, 1988, 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 March 15, 1988. Amends the Housing Act of 1949 to extend Farmers Home Administration Authority through March 15, 1988, 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 15, 1988. Amends the National Housing Act to extend authority for the national crime insurance program through March 15, 1988. 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 15, 1988. 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 15, 1988. Extends the Home Mortgage Disclosure Act through March 15, 1988. Amends the Solar Energy and Energy Conservation Bank Act to extend the Solar Energy and Energy Conservation Bank through March 15, 1988. Amends the Federal National Mortgage Association Charter Act to extend the Federal National Mortgage Association's (Fannie Mae) authority to purchase secondary residential mortgages through March 15, 1988. Amends the Federal Home Loan Mortgage Corporation Act to extend the Federal Home Loan Mortgage Corporation's (Freddie Mac) authority to purchase secondary residential mortgages through March 15, 1988. Amends the National Housing Act to make permanent the limitation on the principal amount of mortgages that may be insured in any fiscal year under such Act. Amends Federal law to extend the moratorium on the prepayment of certain rural rental housing loans through March 15, 1988.

Low-Income Housing Tax Act of 1987

United States · United States Congress · 19 November 1987

Low-Income Housing Tax Act of 1987 - Amends the Internal Revenue Code (IRC) with respect to gain or loss on dispositions of property to provide that for purposes of determining the allowable depreciation and the amount of gain in connection with qualified low-income housing (as defined in this Act) or its disposition, the adjusted basis shall be increased to equal the adjusted cost of the housing. Provides for the recapture of benefits if the taxpayer fails to operate the housing in accordance with the relevant agreement or if there is a disposition of the property. Revises the IRC to waive the ten-year requirement for the low-income housing credit if: (1) the head of the governmental body responsible for administering the pertinent low-income housing program determines either that the availability of the credit would help to avoid default or mitigate loss to the government involved, or that the availability of the credit is necessary to enable the project to avoid default or to be retained for low-income use; or (2) the taxpayer acquires the building from a governmental body that acquired it by reason of default on any indebtedness. Excludes from the gross income of a noncorporate taxpayer any passive activity gain realized in connection with the disposition of a qualified low-income housing project to a qualified non-related party that agrees to continue the low-income housing use of the property. Requires that the property: (1) be held by the taxpayer for the five years preceding the disposition; and (2) be identified by a State or local government as necessary to meet certain low-income housing requirements. Revises the definition of "cooperative housing corporation" for purposes of the income tax deduction of taxes, interest, and business depreciated by a tenant-stockholder to delete the 80-percent income requirement for limited equity cooperative housing corporations. Requires that income derived from investment of the mandatory reserves of a limited equity cooperative housing corporation be treated, for purposes of the tax deduction incurred in transactions with members, as income derived by the corporation from its members. Provides for the recapture of such amounts if the corporation ceases to be a qualified limited equity cooperative housing corporation. Permits such a corporation to elect retroactive application of such treatment.

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 · 19 November 1987

Amends the National Housing Act to extend authority through December 16, 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 December 16, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through December 16, 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 December 16, 1987. Amends the National Housing Act to extend authority for the national crime insurance program through December 16, 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 December 16, 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 December 16, 1987. Extends the Home Mortgage Disclosure Act through December 16, 1987. Amends the Solar Energy and Energy Conservation Bank Act to extend the Solar Energy and Energy Conservation Bank through December 16, 1987. Amends the Federal National Mortgage Association Charter Act to extend the Federal National Mortgage Association's (Fannie Mae) authority to purchase secondary residential mortgages through December 16, 1987. Amends the Federal Home Loan Mortgage Corporation Act to extend the Federal Home Loan Mortgage Corporation's (Freddie Mac) authority to purchase secondary residential mortgages through December 16, 1987. Amends the National Housing Act to make permanent the limitation on the principal amount of mortgages that may be insured in any fiscal year under such Act. Amends Federal law to extend the moratorium on the prepayment of certain rural rental housing loans through December 16, 1987.

A 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 · 13 November 1987

Amends the National Housing Act to extend authority through December 16, 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 December 16, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through December 16, 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 December 16, 1987. Amends the National Housing Act to extend authority for the national crime insurance program through December 16, 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 December 16, 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 December 16, 1987. Extends the Home Mortgage Disclosure Act through December 16, 1987. Amends the Solar Energy and Energy Conservation Bank Act to extend the Solar Energy and Energy Conservation Bank through December 16, 1987. Amends the Federal National Mortgage Association Charter Act to extend the Federal National Mortgage Association's (Fannie Mae) authority to purchase secondary residential mortgages through December 16, 1987. Amends the Federal Home Loan Mortgage Corporation Act to extend the Federal Home Loan Mortgage Corporation's (Freddie Mac) authority to purchase secondary residential mortgages through December 16, 1987. Amends the National Housing Act to make permanent the limitation on the principal amount of mortgages that may be insured in any fiscal year under such Act. Amends Federal law to extend the moratorium on the prepayment of certain rural rental housing loans through December 2, 1987.

A 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 · 12 November 1987

Amends the National Housing Act to extend authority through December 16, 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 December 16, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through December 16, 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 December 16, 1987. Amends the National Housing Act to extend authority for the national crime insurance program through December 16, 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 December 16, 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 December 16, 1987. Extends the Home Mortgage Disclosure Act through December 16, 1987. Amends the Solar Energy and Energy Conservation Bank Act to extend the Solar Energy and Energy Conservation Bank through December 16, 1987. Amends the Federal National Mortgage Association Charter Act to extend the Federal National Mortgage Association's (Fannie Mae) authority to purchase secondary residential mortgages through December 16, 1987. Amends the Federal Home Loan Mortgage Corporation Act to extend the Federal Home Loan Mortgage Corporation's (Freddie Mac) authority to purchase secondary residential mortgages through December 16, 1987. Amends the National Housing Act to make permanent the limitation on the principal amount of mortgages that may be insured in any fiscal year under such Act. Amends Federal law to extend the moratorium on the prepayment of certain rural rental housing loans through December 16, 1987.

A bill to amend the Internal Revenue Code of 1986 to provide for the establishment of, and the deduction of contributions to, housing savings accounts and, in order to compensate for the loss in Federal revenues by reason of such accounts, to restrict the deduction for home mortgage interest.

United States · United States Congress · 29 October 1987

Amends the Internal Revenue Code to allow an individual taxpayer an income tax deduction for cash contributions to a housing savings account established for the exclusive benefit of an individual who has never owned his or her principal residence. Limits: (1) the amount of the tax year deduction to the lesser of $2,000 or the earned income includible in the taxpayer's gross income for that year; and (2) total deductions to $20,000. Provides that no individual may be a beneficiary of more than one account. Permits the exclusion from gross income of payments and distributions from a housing savings account as long as such amounts are used exclusively in connection with the purchase of a principal residence for the eligible beneficiary or are distributions of excess contributions before the due date of the tax return. Exempts the account itself from taxation (except for the tax on unrelated business income) unless it ceases to be a proper housing savings account because the taxpayer either engages in prohibited transactions or acquires a principal residence. Imposes penalties in the form of additional tax when account funds or distributions are used for other than the legitimate housing purposes for which the account was established. Requires that the trustee of a housing savings account file reports with the Secretary of the Treasury and with the account's beneficiary on the maintenance of the account. Extends the deduction for contributions to a housing savings account to taxpayers who do not otherwise itemize deductions. Imposes a six percent excise tax on excess contributions to a housing savings account. Provides that contributions to a housing savings account shall not be subject to gift tax. Imposes a five percent excise tax on amounts connected with any prohibited transaction with respect to a housing savings account. Imposes a penalty for failure to file reports required with respect to a housing savings account. Excludes from the gross income of an individual distributions from a housing savings account used in connection with the purchase of a principal residence for that individual. Revises the definition of "qualified residence interest" for purposes of the income tax deduction for personal interest to distinguish between acquisition indebtedness and home equity indebtedness. Limits to $500,000 and $75,000 respectively the amount of indebtedness on which interest is deductible. Provides that for purposes of this deduction a boat or a mobile home used on a transient basis shall not be treated as a qualified second residence of the taxpayer.

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 · 29 October 1987

Amends the National Housing Act to extend authority through November 15, 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 November 15, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration Authority through November 15, 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 November 15, 1987. Amends the National Housing Act to extend authority for the national crime insurance program through November 15, 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 November 15, 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 November 15, 1987. Extends the Home Mortgage Disclosure Act through November 15, 1987. Amends the Solar Energy and Energy Conservation Bank Act to extend the Solar Energy and Energy Conservation Bank through November 15, 1987. Amends the Federal National Mortgage Association Charter Act to extend the Federal National Mortgage Association's (Fannie Mae) authority to purchase secondary residential mortgages through November 15, 1987. Amends the Federal Home Loan Mortgage Corporation Act to extend the Federal Home Loan Mortgage Corporation's (Freddie Mac) authority to purchase secondary residential mortgages through November 15, 1987. Amends the National Housing Act to make permanent the limitation on the principal amount of mortgages that may be insured in any fiscal year under such Act. Amends Federal law to extend the moratorium on the prepayment of certain rural rental housing loans through November 15, 1987.

A 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 · 27 October 1987

Amends the National Housing Act to extend authority through November 15, 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 November 15, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration Authority through November 15, 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 November 15, 1987. Amends the National Housing Act to extend authority for the national crime insurance program through November 15, 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 November 15, 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 November 15, 1987. Extends the Home Mortgage Disclosure Act through November 15, 1987. Amends the Solar Energy and Energy Conservation Bank Act to extend the Solar Energy and Energy Conservation Bank through November 15, 1987. Amends the Federal National Mortgage Association Charter Act to extend the Federal National Mortgage Association's (Fannie Mae) authority to purchase secondary residential mortgages through November 15, 1987. Amends the Federal Home Loan Mortgage Corporation Act to extend the Federal Home Loan Mortgage Corporation's (Freddie Mac) authority to purchase secondary residential mortgages through November 15, 1987. Amends the National Housing Act to make permanent the limitation on the principal amount of mortgages that may be insured in any fiscal year under such Act. Amends Federal law to extend the moratorium on the prepayment of certain rural rental housing loans through November 15, 1987.

A bill to amend title IV of the Social Security Act to promote the welfare of homeless families by affirming the right of States under the AFDC program to provide simultaneous multiple shelter allowances or special need allowances to reflect differences in the types of housing in which the recipients reside, by removing the 30-day limit on emergency assistance insofar as it involves shelter, and by making it clear that a State need not specify the maximum amounts of assistance to be provided for the various types of emergency identified in its State plan.

United States · United States Congress · 30 September 1987

Amends part A (Aid to Families with Dependent Children) (AFDC) of title IV of the Social Security Act to make it clear that a State may include in its standard of need for AFDC applicants and recipients an amount for shelter that varies according to the type of housing occupied. Eliminates the 30-day per year limitation on AFDC emergency shelter assistance. Makes it clear that a State need not specify the maximum amount of assistance to be provided for each type of emergency.

A bill to amend the Tax Reform Act of 1986 to provide that taxpayers who invested in low-income housing projects before January 1, 1984, shall receive the same transitional relief as taxpayers who so invested after December 31, 1983.

United States · United States Congress · 30 September 1987

Amends the Tax Reform Act of 1986 to increase the number of taxpayers eligible for transitional relief with respect to passive losses associated with investments in low-income housing projects. Applies the transitional rule to taxpayers who invested in qualified projects before January 1, 1984. (Current law applies only to investments made after December 31, 1983.)

A 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 · 24 September 1987

Amends the National Housing Act to extend authority through October 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 Housing Act of 1964 to extend urban rehabilitation loan authority through October 31, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration Authority through October 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 October 31, 1987. Amends the National Housing Act to extend authority for the national crime insurance program through October 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 October 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 October 31, 1987. Extends the Home Mortgage Disclosure Act through October 31, 1987. Amends the Solar Energy and Energy Conservation Bank Act to extend the Solar Energy and Energy Conservation Bank through October 31, 1986. Amends the Federal National Mortgage Association Charter Act to extend the Federal National Mortgage Association's (Fannie Mae) authority to purchase secondary residential mortgages through October 31, 1987. Amends the Federal Home Loan Mortgage Corporation Act to extend the Federal Home Loan Mortgage Corporation's (Freddie Mac) authority to purchase secondary residential mortgages through October 31, 1987. Amends the National Housing Act to make permanent the limitation on the principal amount of mortgages that may be insured in any fiscal year under such Act. Amends Federal law to extend the moratorium on the repayment of certain rural rental housing loans through October 31, 1987.

Deborah Gore Dean, of Maryland, to be an Assistant Secretary of Housing and Urban Development, vice Alfred Clinton Moran, resigned.

United States · United States Senate · 23 September 1987

Lower Income Homeownership Improvement Act

United States · United States Congress · 23 September 1987

Lower Income Homeownerhip Improvement Act - Amends the National Housing Act to require the Secretary of Housing and Urban Development to review lower-income mortgage assistance contracts and, if a contract's interest rate exceeds current rates on similar mortgages by more than three percentage points, the Secretary shall notify the homeowner that: (1) he or she should attempt to refinance; and (2) the Secretary will reimburse reasonable refinancing costs.

Elder Cottage Housing Opportunity Act

United States · United States Congress · 21 September 1987

Elder Cottage Housing Opportunity Act - Amends the Housing Act of 1959, the Housing and Urban Development Act of 1968, and the National Housing Act to provide assistance for the purchase and installation of elder cottage housing opportunity units.

A resolution waiving certain points of order against consideration of the bill (H.R. 2783) 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, 1988, and for other purposes.

United States · United States Congress · 21 September 1987

Waives points of order against the consideration of H.R. 2783 (Department of Housing and Urban Development and sundry independent agencies appropriations).

A 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 · 17 September 1987

Amends the National Housing Act to extend authority through October 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 Housing Act of 1964 to extend urban rehabilitation loan authority through October 31, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through October 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 October 31, 1987. Amends the National Housing Act to extend authority for the national crime insurance program through October 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 October 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 October 31, 1987. Extends the Home Mortgage Disclosure Act through October 31, 1987. Amends the Solar Energy and Energy Conservation Bank Act to extend the Solar Energy and Energy Conservation Bank through October 31, 1987. Amends the Federal National Mortgage Association Charter Act to extend the Federal National Mortgage Association's (Fannie Mae) authority to purchase secondary residential mortgages through October 31, 1987. Amends the Federal Home Loan Mortgage Corporation Act to extend the Federal Home Loan Mortgage Corporation's (Freddie Mac) authority to purchase secondary residential mortgages through October 31, 1987. Amends the National Housing Act to make permanent the limitation on the principal amount of mortgages that may be insured in any fiscal year under such Act.

A bill to provide interim extensions of collection of the Veterans' Administration housing loan fee and of the formula for determining whether, upon foreclosure, the Veteran's Administration shall acquire the property securing a guaranteed loan.

United States · United States Congress · 16 September 1987

Extends until December 31, 1987, the following Federal provisions relating to the Veterans Administration (VA) housing loan guaranty program: (1) the collection from participating veterans of the VA housing loan fee; and (2) the formula for determining whether, upon foreclosure, the VA shall acquire the property securing a guaranteed loan.

Lower Income Homeownership Refinancing Act

United States · United States Congress · 16 September 1987

Lower Income Homeownership Refinancing Act - Amends the National Housing Act to direct the Secretary of Housing and Urban Development periodically to review lower income homeownership assistance contracts to determine whether a mortgage, loan, or credit advance should be refinanced. Directs the Secretary to provide specified financial assistance to encourage such refinancing. Authorizes appropriations.

A 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 · 7 August 1987

Amends the National Housing Act to extend authority through October 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 Housing Act of 1964 to extend urban rehabilitation loan authority through October 31, 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through October 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 October 31, 1987. Amends the National Housing Act to extend authority for the national crime insurance program through October 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 October 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 October 31, 1987. Extends the Home Mortgage Disclosure Act through October 31, 1987. Amends the Solar Energy and Energy Conservation Bank Act to extend the Solar Energy and Energy Conservation Bank through October 31, 1987. Amends the Federal National Mortgage Association Charter Act to extend the Federal National Mortgage Association's (Fannie Mae) authority to purchase secondary residential mortgages through October 31, 1987. Amends the Federal Home Loan Mortgage Corporation Act to extend the Federal Home Loan Mortgage Corporation's (Freddie Mac) authority to purchase secondary residential mortgages through October 31, 1987. Amends the National Housing Act to make permanent the limitation on the principal amount of mortgages that may be insured in any fiscal year under such Act.

A bill to require the Secretary of Housing and Urban Development to develop regulations that would provide transitional relief from the application of the rent formula under the United States Housing Act of 1937.

United States · United States Congress · 6 August 1987

Directs the Secretary of Housing and Urban Development to: (1) develop a regulation to provide a phased-in rental increase for public housing tenants whose incomes increase substantially as a result of job training program participation; (2) consider past training program experience in developing such regulations; and (3) make a cost estimate of such regulation, including the impact of rent increases on tenants' job training participation and occupancy decisions.

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 · 6 August 1987

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

A joint resolution establishing a moratorium on the prepayment of certain mortgages insured under the National Housing Act or assisted under such Act.

United States · United States Congress · 4 August 1987

Prohibits the Secretary of Housing and Urban Development from accepting prepayments of certain mortgages insured or assisted under the National Housing Act prior to January 1, 1989.

A bill to amend the United States Housing Act of 1937 to prohibit public housing agencies from using Federal funds for public relations activities.

United States · United States Congress · 29 July 1987

Amends the United States Housing Act of 1937 to prohibit public housing agencies from using Federal funds for public relations activities.

A bill to amend the Internal Revenue Code of 1986 to provide for the establishment of, and the deduction of contributions to, housing savings accounts.

United States · United States Congress · 23 July 1987

Amends the Internal Revenue Code to allow an individual taxpayer an income tax deduction for cash contributions to a housing savings account established for the exclusive benefit of an individual who has never owned his or her principal residence. Limits: (1) the amount of the tax year deduction to the lesser of $2,000 or the earned income includible in the taxpayer's gross income for that year; and (2) total deductions to $20,000. Provides that no individual may be a beneficiary of more than one account. Permits the exclusion from gross income of payments and distributions from a housing savings account as long as such amounts are used exclusively in connection with the purchase of a principal residence for the eligible beneficiary or are distributions of excess contributions before the due date of the tax return. Exempts the account itself from taxation (except for the tax on unrelated business income) unless it ceases to be a proper housing savings account because the taxpayer either engages in prohibited transactions or acquires a principal residence. Imposes penalties in the form of additional tax when account funds or distributions are used for other than the legitimate housing purposes for which the account was established. Requires that the trustee of a housing savings account report to the Secretary of the Treasury and to the account's beneficiary on the maintenance of the account. Extends the deduction for contributions to a housing savings account to taxpayers who do not otherwise itemize deductions. Imposes a six percent excise tax on excess contributions to a housing savings account. Provides that contributions to a housing savings account shall not be subject to gift tax. Imposes a five percent excise tax on amounts connected with any prohibited transaction with respect to a housing savings account. Imposes a penalty for failure to file reports required with respect to a housing savings account. Excludes from the gross income of an individual distributions from a housing savings account used in connection with the purchase of a principal residence for that individual.

A bill to amend the Internal Revenue Code of 1986 to provide for the establishment of, and the deduction of contributions to, housing savings accounts.

United States · United States Congress · 23 July 1987

Amends the Internal Revenue Code to allow an individual taxpayer an income tax deduction for cash contributions to a housing savings account established for the exclusive benefit of an individual who has never owned his or her principal residence. Limits: (1) the amount of the tax year deduction to the lesser of $2,000 or the earned income includible in the taxpayer's gross income for that year; and (2) total deductions to $20,000. Provides that no individual may be a beneficiary of more than one account. Permits the exclusion from gross income of payments and distributions from a housing savings account as long as such amounts are used exclusively in connection with the purchase of a principal residence for the eligible beneficiary or are distributions of excess contributions before the due date of the tax return. Exempts the account itself from taxation (except for the tax on unrelated business income) unless it ceases to be a proper housing savings account because the taxpayer either engages in prohibited transactions or acquires a principal residence. Imposes penalties in the form of additional tax when account funds or distributions are used for other than the legitimate housing purposes for which the account was established. Requires that the trustee of a housing savings account report to the Secretary of the Treasury and to the account's beneficiary on the maintenance of the account. Extends the deduction for contributions to a housing savings account to taxpayers who do not otherwise itemize deductions. Imposes a six percent excise tax on excess contributions to a housing savings account. Provides that contributions to a housing savings account shall not be subject to gift tax. Imposes a five percent excise tax on amounts connected with any prohibited transaction with respect to a housing savings account. Imposes a penalty for failure to file reports required with respect to a housing savings account. Excludes from the gross income of an individual distributions from a housing savings account used in connection with the purchase of a principal residence for that individual.

William F. Sullivan, of Virginia, to be a Member of the Board of Directors of the National Corporation for Housing Partnerships for the term expiring October 27, 1989, vice Edward Sulzberger, term expired.

United States · United States Senate · 14 July 1987

A bill to amend the National Housing Act to increase the principal amount for which the Secretary of Housing and Urban Development may provide insurance for mortgages secured by single-family residences.

United States · United States Congress · 14 July 1987

Amends the National Housing Act to revise the method for determining the maximum principal amount for which the Secretary of Housing and Urban Development may provide insurance for mortgages secured by single-family residences. Permits a ceiling based on 75 percent of the median price of comparable housing in a metropolitan statistical area.

A resolution waiving certain points of order against consideration of the bill (H.R. 2783) 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, 1988, and for other purposes.

United States · United States Congress · 29 June 1987

Waives points of order against the consideration of H.R. 2783 (Department of Housing and Urban Development and sundry independent agencies appropriations).

A bill to impose a moratorium on prepayments under section 515 of the Housing Act of 1949.

United States · United States Congress · 25 June 1987

Amends the Housing Act of 1949 to prohibit the Secretary of Agriculture, through January 1, 1988, from accepting any mortgage loan prepayments on rural rental housing unless: (1) a loan was made or insured at least 20 years prior to the date of prepayment; or (2) in the case of a loan made or insured before December 21, 1979, the Secretary determines that comparable housing is available, or that such prepayment will not result in substantial rent increases to existing tenants.

A bill 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, 1988, and for other purposes.

United States · United States Congress · 25 June 1987

Title I: Department of Housing and Urban Development - Makes appropriations to the Department of Housing and Urban Development (HUD) for FY 1988 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 1988 shall be rescinded. Rescinds a specified amount of FY 1988 contract authority for rental housing assistance. Limits new loan guarantee commitments by the Government National Mortgage Association. Authorizes a specified amount for loans in FY 1988 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 1988. 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 1988. Authorizes the use of amounts in the rehabilitation loan fund for loans, operating costs, and the capitalization of delinquent interest during FY 1988. Title II: Independent Agencies - Makes appropriations for FY 1988 to the: (1) American Battle Monuments Commission for salaries and expenses; (2) Consumer Product Safety Commission for salaries and expenses; (3) Department of Defense-Civil for Army cemetery expenses; (4) Environmental Protection Agency (EPA) for salaries and expenses, research and development, abatement, control, and compliance activities, buildings and facilities, the Hazardous Substance Superfund, the Leaking Underground Storage Tank Trust Fund, and construction grants; (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 related activities, the U.S. Antarctic Program, scientific education activities; (11) Neighborhood Reinvestment Corporation; (12) Selective Service System for salaries and expenses; (13) 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, the loan guaranty revolving fund, and the parking garage revolving fund; and (14) 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 1988. 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 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. 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 1988 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.

Deborah Gore Dean, of Maryland, to be an Assistant Secretary of Housing and Urban Development, vice Alfred Clinton Moran, resigned.

United States · United States Senate · 24 June 1987

A bill to impose a moratorium on prepayments under section 515 of the Housing Act of 1949.

United States · United States Congress · 24 June 1987

Amends the Housing Act of 1949 to prohibit the Secretary of Agriculture, through January 1, 1988, from accepting any mortgage loan prepayments on rural rental housing unless: (1) a loan was made or insured at least 20 years prior to the date of prepayment; or (2) in the case of a loan made or insured before December 21, 1979, the Secretary determines that comparable housing is available, or that such prepayment will not result in substantial rent increases to existing tenants.

A resolution providing for the consideration of the bill (H.R. 4) to amend and extend certain laws relating to housing, community and neighborhood development and preservation, and shelter assistance for the homeless and displaced, and for other purposes.

United States · United States Congress · 10 June 1987

Sets forth the rule for the consideration of H.R. 4 (housing and community development programs).

Housing and Community Development Act of 1987

United States · United States Congress · 9 June 1987

Housing and Community Development Act of 1987 - Title I: Housing Assistance - Subtitle A: Programs Under United States Housing Act of 1937 - Part 1: General Provisions - Amends the United States Housing Act of 1937 to increase FY 1988 and 1989 budget authority for lower income housing programs, including public housing, Indian housing, elderly and handicapped housing, regular housing, and comprehensive improvement assistance. Provides for public housing phased-in rent increases in cases of tenant employment. Part 2: Public Housing - Amends the United States Housing Act of 1937 relating to the administration of public housing management. Authorizes grants for public housing development costs. Directs the Secretary of Housing and Urban Development (Secretary) to provide payments for operating lower income housing projects through a performance funding system that is based on a certain system and that establishes standards for operating costs and income projections. Authorizes FY 1988 and 1989 appropriations. Authorizes grants for comprehensive improvement assistance. Revises the conditions of approval for project demolition applications. Authorizes public housing comprehensive grants. Requires the Secretary to include such operations in his annual report. Provides for a pilot program of public housing resident management, including establishment of resident management corporations (RMCs). Provides families residing in public housing projects with the opportunity to purchase dwelling units through an RMC. Establishes a seven-year public housing comprehensive transition demonstration program in Charlotte, North Carolina, to demonstrate the effectiveness of providing comprehensive services to public housing tenants to ensure their transition to private housing. Requires interim and final congressional reports. Part 3: Section 8 Assistance and Other Programs - Amends the United States Housing Act of 1937 to require annual October 1 adjustments for section 8 fair market rentals. Repeals the requirement that section 8 rent increases be based only on operating costs. Authorizes annual housing voucher adjustments. Provides for the portability of section 8 certificates and vouchers. Sets forth section 8 administrative fee provisions. Requires a General Accounting Office report to the Congress regarding such fee structure. Gives section 8 priority to economically depressed areas. Prohibits landlords with section 8-assisted projects from not renting to a section 8 certificate or voucher holder. Authorizes FY 1988 and 1989 appropriations for the rental rehabilitation grant program. Terminates the rental development (section 17) grant program. Subtitle B: Multifamily Housing Management and Preservation - 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 multifamily housing projects. Authorizes FY 1988 and 1989 appropriations for capital improvements in the troubled multifamily housing project program. Establishes the Capital Improvements Assistance Fund in the Treasury for such purposes. Subtitle D (sic): Other Housing Assistance Programs - Amends the Housing Act of 1959 to authorize FY 1988 borrowing authority and FY 1988 and 1989 loan authority for elderly and handicapped housing. Provides for a demonstration (three year maximum) of prototype handicapped designs. Terminates section 8 assistance in handicapped projects (primarily nonelderly) where contract funds are appropriated under such housing for the handicapped families program. Amends the Congregate Housing Services Act of 1978 to authorize FY 1988 and 1989 appropriations for the congregate services program. Amends the Housing and Community Development Act of 1980 to exempt from HUD regulations limiting alien eligibility for public housing: (1) alien families with an American member; (2) current housing residents; and (3) affirmed citizens over age 62. (Retains the student-alien restriction.) Authorizes the Secretary to require HUD program participants or applicants to disclose their social security or employer identification numbers. Directs the Secretary to establish energy conservation standards for use in assisted housing development and rehabilitation projects. Amends the Housing and Urban-Rural Recovery Act of 1983 to authorize FY 1988 and 1989 appropriations for housing demonstration projects. Requires a program report to the Congress. Amends the Housing and Urban Development Act of 1965 to give tenant preference to persons who are in substandard housing, pay more than 50 percent of their income as rent, or are involuntarily displaced. Title II: Rural Housing - Amends the Housing Act of 1949 to authorize FY 1988 and 1989 appropriations for: (1) subsidized homeownership loans; (2) farmworker rental housing loans; (3) low income and elderly subsidized rental housing loans; (4) site loans; (5) home repair loans; (6) construction defects payments; (7) repair grants; (8) farmworker rental housing grants; (9) mutual and self-help grants; (10) rental assistance payments; and (11) housing preservation grants. Extends authority through FY 1989 for rental assistance payment contracts and rural voucher contracts. 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. Amends the Housing Act of 1949 to provide for rural housing escrow accounts. Extends the existing "rural area" classification through September 30, 1989. Requires a study of mortgage credit in rural areas. Revises the definition of very-low income families for purposes of rural housing assistance eligibility. Requires local governmental consultation under the programs for insured loans and financial assistance for domestic farm labor housing. Prohibits reduction, cancellation, or refusal to renew rural housing assistance due to an increase in borrower income if the borrower will be unable to reasonably afford the resulting higher payments. Obligates a specified percentage of FY 1988 home ownership loan guarantees for moderate income families. Establishes a rural rental housing displacement prevention program. Title III: Mortgage Insurance and Secondary Mortgage Market Programs - Subtitle A: FHA Mortgage Insurance Programs - Amends the National Housing Act to extend authority permanently 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) graduate payment and indexed mortgage insurance; and (6) mortgage insurance for land development. Terminates new mortgage insurance authority for servicemen after September 30, 1987. Provides a specified FY 1988 and 1989 amount for Federal Housing Administration (FHA) mortgage insurance commitments. Authorizes the Secretary to fix premium charges for FHA mortgages or loan insurance, but not more than certain percentages of principal calculated according to specified formulae. Permits the Secretary to insure a mortgage secured by a one- to four-family dwelling, or approve of a substitute mortgagor who assumes any mortgage, only if the mortgagor is to occupy the dwelling as a principal or secondary residence. Excludes from eligibility certain public and private nonprofit investors. Repeals the vacation and seasonal home mortgage insurance program. Specifies certain actions which the Secretary must take to reduce losses under the single family mortgage insurance program. Requires State approval of, or an independent certification of need for, hospital mortgage insurance. Transfers mortgage insurance programs for Hawaiian homelands and Indian lands from the Mutual Mortgage Insurance Fund to the General Insurance Fund of the Treasury. Permits Native Hawaiians to transfer FHA-financed property to their children or surviving spouses who do not meet the legal definition of native Hawaiians. Increases from ten to 20 percent of the aggregate number of insured mortgages and loans for the preceding fiscal year the ceiling on the aggregate number of such insured mortgages and loans for any particular fiscal year. Raises the fine for equity skimming from $5,000 to $250,000, and the possible prison sentence from a maximum of three years to a maximum of five years. Subjects skimming on cooperatives and condominiums to such penalties. Revises the definition of one kind of equity skimming practice to mean failing to make payments under the mortgage or deed of trust as the payments become due, regardless of whether the purchaser is obligated on the loan. Authorizes the Secretary to impose civil money penalties on a mortgagee for certain violations of requirements of such Act, up to a maximum of $1,000 per violation, or $1,000,000 for all violations by a particular mortgagee during a one-year period. Provides for judicial review of an agency determination to assess such penalties. Authorizes the Secretary to conduct a demonstration program of insurance of home equity conversion mortgages of elderly homeowners through FY 1991. Limits the total number of such mortgages to 2500. Repeals the provision requiring the publication of certain prototype housing costs. Provides for a double damages remedy in U.S. district court to recover housing project assets or income. Prohibits a mortgage or lender from setting minimum principal loan amounts (including refinancings). Increases the maximum single family mortgage amount from 133 1/3 percent to 150 percent of the prevailing home sales price. Amends the definition of veteran, for specified mortgage insurance purposes, to require that persons who enlisted in the armed forces after September 7, 1980, or who entered active duty after October 16, 1981, shall have their eligibility determined in accordance with specified Federal law. Permits the use of approved individual residential water purification units if the existing water supply does not meet HUD standards. Authorizes increased multifamily project mortgage limits in high-cost areas. Authorizes operating loss loan insurance for certain projects with existing mortgages insured by the Secretary. Subtitle B: Secondary Mortgage Market Programs - Prohibits (with specified exceptions) fees from being charged on: (1) Federal National Mortgage Association (FNMA) mortgages; or (2) Federal Home Loan Mortgage Corporation mortgages. Extends Federal National Mortgage Association and Federal Home Loan Mortgage Corporation mortgage purchase authority permanently. Amends the Federal National Mortgage Association Charter Act to set FY 1988 and 1989 limits on Government National Mortgage Association guarantees of mortgage-backed securities. Title IV: Community Development and Miscellaneous Programs - Subtitle A: Community and Neighborhood Development and Preservation - Amends the Housing and Community Development Act of 1974 to authorize appropriations through FY 1990 for the community development block grant (CDBG) program, including a specified amount for the special discretionary fund. Makes specified amounts available for existing grant programs to minority graduate and undergraduate students in the areas of community development and planning. Authorizes FY 1988 appropriations for the urban development action grant program (UDAG). Extends community development block grant entitlement authority for certain metropolitan city and urban county areas through September 30, 1989. Permits CDBG funds to be used for Great Lakes flooding and erosion control. Permits a CDBG grantee to use more than 15 percent of annual funds for public service activities (with specified maximum limits). Allows any appropriate State agency or official to certify for the receipt of CDBG funds in nonentitlement areas. (Currently, only the Governor has such authority.) Authorizes multiyear CDBG funding in nonentitlement areas. Revises UDAG selection criteria to add certain job-creation and minority small business considerations. Specifies points to be awarded for each factor in consideration and the percentage of fund distribution to applicants meeting different criteria. Requires the Comptroller General to report every three years to the Congress an evaluation of such selection criteria and the eligibility standards to which they apply. Prohibits the use of urban development action grants for business relocations. Authorizes appropriations through FY 1989 for the urban homesteading program. Amends the Neighborhood Reinvestment Corporation Act to authorize FY 1988 and 1989 appropriations for the Neighborhood Reinvestment Corporation. Requires a privatization study. Authorizes the retention and use of closed-out urban land disposition proceeds for CDBG purposes by the following local governments and specified projects: (1) Hartford, Connecticut; (2) Lebanon, Pennsylvania; (3) Richmond, Virginia; and (4) Milwaukee, Wisconsin. Amends the Housing and Community Development Act of 1974 to terminate the loan guarantee program. Subtitle B: Flood Insurance Program - 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, 1989. Authorizes FY 1988 and 1989 appropriations for flood insurance studies. Establishes a six-month moratorium on certain flood insurance regulations relating to mobile homes. Subtitle C: Miscellaneous Programs - Authorizes a fair housing initiatives program. Authorizes FY 1988 and 1989 appropriations. Sets forth program provisions. Directs the Secretary of Housing and Urban Development and the Secretary of Agriculture to collect at least annually data on the racial and ethnic characteristics of persons eligible for or benefiting under each community development, housing assistance, and mortgage and loan insurance and guarantee program the Secretary administers. Amends the Housing and Urban Development Act of 1970 to authorize FY 1988 and 1989 appropriations for housing research and development, including energy improvements and lower-cost building technologies. Amends the Home Mortgage Disclosure Act of 1975 to make mortgage disclosure authority permanent. Amends the Housing and Urban Development Act of 1968 to authorize FY 1988 and 1989 appropriations for housing counseling. Amends the National Manufactured Housing Construction and Safety Standards Act of 1974 to require manufactured home construction and safety standards to include energy conservation standards. Amends the Lead-Based Paint Poisoning Prevention Act to require mortgagees to provide purchasers of 1978 or prior constructed homes with lead-based paint information. Directs the National Institute of Building Sciences and HUD to develop such information. Title V: Enterprise Zone Development - Authorizes the Secretary to designate up to 100 enterprise zones (to be identified by State and local authorities, or Indian reservation governing bodies) to provide economic revitalization, job creation, and community development. Requires a specified number of rural designations. Sets forth area and eligibility requirements. Prohibits business relocation assistance. Requires program reports to the Congress every four years. Authorizes the waiver or modification of housing and community development rules in enterprise zones. Provides for the coordination of community development block grant, urban development action grant, and other HUD programs in such zones.

A bill to permit secondary mortgage market financing for residential properties that include small day care centers.

United States · United States Congress · 29 May 1987

Amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to permit secondary mortgage market financing for residential properties in which community child care services are provided in compliance with applicable State or local law.

A joint resolution to designate April 1988, as "Fair Housing Month".

United States · United States Congress · 29 May 1987

Authorizes and requests the President to designate the month of April as Fair Housing Month.

Public Housing Child Care Services Act of 1987

United States · United States Congress · 27 May 1987

Public Housing Child Care Services Act of 1987 - Directs the Secretary of Housing and Urban Development to: (1) provide grants to public housing authorities to assist them in providing child care services for lower income families; and (2) design such program to determine the extent to which it facilitates resident employability. Requires a program report to the Congress within three years. Authorizes FY 1988 through 1990 appropriations.

Housing Preservation Act of 1987

United States · United States Congress · 21 May 1987

Housing Preservation Act of 1987 - Title I: Preservation of Existing Housing - Amends the United States Housing Act of 1937 to authorize the Secretary of Housing and Urban Development (Secretary), during FY 1987 through 1992, to reserve authority to enter into obligations, under the comprehensive improvement assistance program, in an amount sufficient to assure compliance of all public housing with current HUD modernization standards by October 1, 1992. Expresses the intent of the Congress that available housing subject to mortgages under National Housing Act programs for moderate-income and displaced families and for rental and cooperative housing assistance for lower income families remain available for occupancy by such families. Establishes a Commission on Low-Income Housing to study and report to the Congress within six months of this Act's enactment on proposals for maintaining for lower-income families the availability of housing under the aforementioned National Housing Act program as well as programs for elderly persons and families in rural areas under the Housing Act of 1949. Mandates that amounts of budget authority that become available as a result of the prepayment of mortgages insured under these programs be held in a separate housing account for low- and moderate-income families. Amends the United States Housing Act of 1937 to authorize the Secretary to: (1) set aside funds to provide security forces adequate to prevent the illegal sale and use of controlled substances in public housing common areas; and (2) enter into contracts with appropriate associations to study the development of improved design features to minimize the accessibility to public housing of nonresidents likely to engage in such illegal activity. Directs the Secretary to study and to report to the Congress within 120 days of this Act's enactment on the feasibility of using surplus Federal lands for low- and moderate-income housing programs. Amends the Internal Revenue Code (IRC) to permit low-income housing to qualify for a tax credit if the required percentage of housing units (20 percent or 40 percent) in the project is occupied by persons whose income is less than the required percentage (50 percent or 60 percent) of either State median income or area median income (20-50 and 40-60 determinations under current law are based only on area median income). Revises the IRC definition of "passive activity" to exclude any interest in a qualified low-income building or qualified rehabilitated building. Excludes from the gross income of a noncorporate taxpayer any gain realized in connection with the disposition of a qualified low-income housing project to a qualified non-related party that agrees to continue the low-income housing use of the property. Requires that the property: (1) be held by the taxpayer for the five years preceding the disposition; and (2) be identified by a State or local government as necessary to meet certain low-income housing requirements. Adds as an item of tax preference for minimum tax purposes any amount of gain excluded from tax under these provisions. Title II: Housing Partnerships - Authorizes the Secretary of Housing and Urban Development to carry out a housing partnership demonstration program to: (1) establish State and local housing partnerships in the interest of developing plans to address the need for affordable housing; (2) make available funds to enable the partnerships to increase the supply of low-income housing; and (3) retain whenever practicable and enhance the affordability of the existing housing supply. Enumerates types of grants and funds that the Secretary must make available. Describes grant application procedures. Directs the Secretary, within 180 days after this Act's enactment, to publish in the Federal Register final regulations with respect to housing partnerships. Authorizes FY 1988 and 1989 appropriations.

Public Housing Income Equity Act

United States · United States Congress · 13 May 1987

Public Housing Income Equity Act - Amends the United States Housing Act of 1937 to exclude from the income calculation of public housing residents 62 years of age or older amounts received under Federal job training and employment programs or under title V of the Older Americans Act of 1965.

A resolution making Republican appointments to the Committee on Agriculture, Nutrition and Forestry, the Committee on Banking, Housing and Urban Affairs, and the Committee on Small Business.

United States · United States Congress · 12 May 1987

Appoints Senator Karnes, Nebraska, to the following committees for the 100th Congress: (1) Agriculture, Nutrition, and Forestry; and (2) Banking, Housing, and Urban Affairs; and (3) Small Business.

A resolution making additional majority appointments to the Committee on Agriculture, Nutrition and Forestry, and the Committee on Banking, Housing and Urban Affairs.

United States · United States Congress · 12 May 1987

Appoints Senator Breaux, Louisiana, to the Committee on Agriculture, Nutrition, and Forestry; and Senator Wirth, Colorado, to the Committee on Banking, Housing, and Urban Affairs for the 100th Congress.

Housing for the Chronically Mentally Ill Act of 1987

United States · United States Congress · 7 May 1987

Housing for the Chronically Mentally Ill Act of 1987 - Amends the Housing and Community Development Act of 1974 to permit State mental health authorities, or other private nonprofit or public agencies designated by a State, to use vacant residential property to provide supervised living for the chronically mentally ill. Authorizes appropriations for FY 1988 and for each fiscal year thereafter. Amends the Housing Act of 1959 to set aside specified amounts beginning in FY 1988 for handicapped family housing loans. Amends the United States Housing Act of 1937 to authorize a housing voucher program for the chronically mentally ill. Authorizes FY 1988 through 1990 appropriations.

Emergency Homeownership Counseling Act of 1987

United States · United States Congress · 6 May 1987

Emergency Homeownership Counseling Act of 1987 - Authorizes the Secretary of Housing and Urban Development to make grants for homeownership counseling organizations. Directs the Secretary to give priority to areas that are experiencing high rates of home foreclosures and are not adequately served by homeownership counseling organizations. Sets forth program requirements and eligibility provisions. Stays foreclosure actions during the six-month period after an eligible homeowner applies for counseling. Authorizes appropriations.

Veterans' Housing Benefits Amendments of 1987

United States · United States Congress · 29 April 1987

Veterans' Housing Benefits Amendments of 1987 - Authorizes the Administrator of Veterans Affairs to provide mortgage assistance to veterans with loans guaranteed by the Veterans Administration in order to avoid foreclosure of such loans. Provides that such assistance shall be in the form of a loan to the veteran not to exceed $8,400. Provides that such assistance may be provided only if: (1) the dwelling that secures the primary loan is the current residence of the veteran; (2) the veteran is at least six months delinquent in payments on the primary loan; (3) the veteran is unemployed or has had a substantial reduction in household income through no fault of the veteran; and (4) the Administrator determines that there is a reasonable prospect that the veteran will resume payment on the primary loan within six months after receiving such assistance.

Congregate Housing Services Reauthorization Act

United States · United States Congress · 23 April 1987

Congregate Housing Services Reauthorization Act - Amends the Congregate Housing Services Act to permanently authorize appropriations for the congregate housing services program.

A bill entitled the "Logan Relief Act".

United States · United States Congress · 10 April 1987

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.

Carl D. Covitz, of California, to be Under Secretary of Housing and Urban Development, vice Lee L. Verstandig.

United States · United States Senate · 9 April 1987