All Information (Except Text) for S.853 - Housing Grant Action Program Act of 1989101st Congress (1989-1990)
|Sponsor:||Sen. Dodd, Christopher J. [D-CT] (Introduced 04/19/1989)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 04/19/1989 Read twice and referred to the Committee on Banking. (All Actions)|
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Actions Overview (1)
|04/19/1989||Introduced in Senate|
04/19/1989 Introduced in Senate
All Actions (1)
|04/19/1989||Read twice and referred to the Committee on Banking.|
Action By: Senate
04/19/1989 Read twice and referred to the Committee on Banking.
|Committee / Subcommittee||Date||Activity||Reports|
|Senate Banking, Housing, and Urban Affairs||04/19/1989||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
Latest Summary (1)
Introduced in Senate (04/19/1989)
Housing Grant Action Program Act of 1989 - Title I: Housing Grant Action Program - Authorizes the Secretary of Housing and Urban Development to make basic housing grants to States to cover development and acquisition costs of low and moderate income housing. Bases amounts on a national formula that includes the following factors: (1) population; (2) income and poverty; (3) housing stock; (4) State fiscal capacity; and (5) housing affordability.
Authorizes the Secretary to make challenge grants to States to cover development and acquisition costs for low and moderate income housing.
Requires a State to submit a two-year grant action plan, including a provision for public participation. Sets forth special plan criteria for cities and counties with populations in excess of specified levels.
Sets forth targeted income groups for homeownership and rental programs.
Authorizes appropriations (70 percent for basic grants, 30 percent for challenge grants).
Title II: FHA Insurance Programs - Amends the National Housing Act to authorize a mortgage insurance demonstration program for certain mortgagor-occupied one- to four-family residences.
Authorizes the Secretary to implement multifamily mortgage insurance programs without the approval of other Federal agencies.
Includes specified National Housing Act coinsured mortgages within the scope of title I of this Act.
Title III: Tax and Housing Policy Coordinating Council - Establishes a Tax and Housing Policy Coordinating Council to coordinate tax policy and legislation with the administration's housing policy.
Directs the Council to: (1) advise the President regarding the consistency between existing and proposed tax policy and housing policy; and (2) comment on proposed tax legislation.
Directs congressional committees, in order to facilitate an awareness of the relation between tax and housing policy, to include a "housing impact statement" in any committee report accompanying tax legislation.
Title IV: Repeals and Amendments - Repeals: (1) section 17 (rental rehabilitation and development grants) of the United States Housing Act of 1937; and (2) section 235 (homeownership for lower income families) of the National Housing Act.
Amends the Housing and Community Development Act of 1974 to limit housing construction or rehabilitation assistance to grantees unable to receive such assistance under title I of this Act.