S.485 - Urban Homestead Act of 1999106th Congress (1999-2000)
|Sponsor:||Sen. McCain, John [R-AZ] (Introduced 02/25/1999)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||02/25/1999 Read twice and referred to the Committee on Banking. (All Actions)|
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Summary: S.485 — 106th Congress (1999-2000)All Bill Information (Except Text)
Introduced in Senate (02/25/1999)
Urban Homestead Act of 1999 - Directs the Secretary of Housing and Urban Development to: (1) semiannually publish in the Federal Register a list of unoccupied multifamily housing projects, substandard housing projects, and other residential property owned by the Department of Housing and Urban Development for at least six months; and (2) transfer ownership to a requesting community development corporation.
Directs the Secretary to satisfy any related indebtedness. Exempts such property transfers from disposition requirements under the Multifamily Housing Property Disposition Reform Act of 1994.