Summary: H.R.4868 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.4868. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/17/2010)

Housing Preservation and Tenant Protection Act of 2010 - Requires the Secretary of Housing and Urban Development (HUD), upon request of a project owner with a rental supplement contract or a rental assistance program (RAP) contract, to convert such contract to a section 8 project-based assistance contract.

Prohibits an owner of specified covered housing from selling such property before notifying the required parties and giving HUD an opportunity to purchase it. (Thus grants HUD the first right of refusal.)

Prescribes requirements for: (1) preservation of HUD-owned and HUD-held buildings; (2) HUD authority to assign flexible subsidy loans; and (3) the use of existing section 8 funds to preserve and revitalize affordable housing.

Amends the Housing and Community Development Act of 1992 to authorize the Government National Mortgage Association (Ginnie Mae) to securitize any Federal Housing Administration (FHA) risk-share multifamily loan under the same terms and conditions as if the loan were insured under the National Housing Act.

Revises or prescribes requirements for: (1) restoring housing at risk of loss due to deterioration; (2) protecting residents in HUD assisted projects; (3) preserving troubled projects facing foreclosure; (4) providing incentives under the Multifamily Assisted Housing Reform and Affordability Act of 1997; and (5) establishing a publicly available preservation data base composed of each covered multifamily property.

Section 202 Supportive Housing for the Elderly Act of 2010 - Amends the Housing Act of 1959 regarding project rental assistance for supportive housing for the elderly.

Amends the American Homeownership and Economic Opportunity Act of 2000 with respect to project-based rental housing assistance programs and senior preservation rental assistance contracts

Requires HUD to establish and operate a national senior housing clearinghouse.

Rural Housing Preservation Act of 2010 - Amends the Housing Act of 1949 to require the Secretary of Agriculture to carry out a preservation program to provide financial incentives and other assistance to owners of Section 515 rural multifamily housing projects through long-term use agreements entered into between the project owners and the Secretary. (A Section 515 project is one involving housing and related facilities for elderly persons and families or other persons and families of low income.)