Public Housing Management Improvement Act of 1990

Public Housing Management Improvement Act of 1990 - Amends the United States Housing Act of 1937 to direct the Secretary of Housing and Urban Affairs to: (1) develop and publish in the Federal Register standards for assessing the management performance of public housing agencies; and (2) establish procedures for designating troubled public housing agencies and high performing housing agencies. Prescribes funding and management guidelines appropriated to each type, including authority to replace the management of an agency in substantial default of its covenants, and court appointment of a receiver for it.

Requires public housing agencies to establish project-based accounting systems and to publish an annual financial operations statement, including the financial status of each individual housing project.

Eliminates operating subsidies for public housing units that have been continuously vacant for one year. Authorizes the Secretary: (1) to waive the single audit requirement for public housing agencies; and (2) to devise new auditing standards and procedures which more accurately reflect Federal expenditures and the financial status of public housing agencies.