Summary: S.2650 — 96th Congress (1979-1980)All Information (Except Text)

There is one summary for S.2650. Bill summaries are authored by CRS.

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Introduced in Senate (05/05/1980)

Amends the Housing Act of 1949 to authorize appropriations for fiscal year 1981 for rural housing programs with specified amounts earmarked for: (1) low and moderate income or elderly rental and cooperative housing assistance; (2) insurance of loans for domestic farm labor housing; and (3) guaranteed loans. Authorizes appropriations for fiscal year 1981 for: (1) loans and grants for rural dwellings repair; (2) financial assistance for low-rent housing for domestic farm labor; and (3) programs of technical and supervisory assistance for low-income individuals and rural families.

Extends through September 30, 1981 (from 1980) the authority of the Secretary of Agriculture to insure loans for: (1) housing for the rural elderly, handicapped, or moderate income families; and (2) housing and buildings on farms. Authorizes appropriations for fiscal year 1981 for mutual and self-help housing and for the Self-Help Fund.

Authorizes the Secretary to enter into rental assistance contracts to the extent home ownership subsidies are not otherwise provided. Extends the availability of such subsidies through fiscal year 1981 (from 1980). Requires project owners to apply for such rental assistance before the Secretary may approve a rent increase which will cause tenants to pay more than 25 percent of their income for rent.

Authorizes the Secretary to make and insure loans to consumer cooperatives to enable such cooperatives to finance the transfer of membership in the cooperative under terms that low and moderate income persons can reasonably afford. Permits such loans to be conditioned on not depriving members of the cooperative of their membership because they no longer meet the income eligibility requirements.

Amends the Housing and Urban Development Act of 1969 to authorize the transfer of Federal surplus real property at the request of the Secretary of Agriculture, as well as the Secretary of Housing and Urban Development, for use in providing housing to low or moderate income families or individuals.

Amends the Housing Act of 1949 to make it mandatory that the Secretary of Agriculture provide interest credits on housing loans. Directs the Secretary to assure that adequate replacement housing and relocation assistance are made available if involuntary displacement of families and businesses is unavoidable.