To amend the Housing Act of 1949 to authorize the Secretary of Agriculture to guarantee the repayment of loans made by private lenders for the development costs of multifamily rental housing for low- and moderate-income families in rural areas.
Rural Multifamily Rental Housing Loan Guarantee Demonstration Act - Amends the Housing Act of 1949 to authorize the Secretary of Agriculture to guarantee the repayment of loans made by private lenders for the development costs of multifamily rental housing for low- and moderate-income rural families.
Permits a low-income housing tax credit under the Internal Revenue Code for housing developed from such a loan guarantee if it meets certain tax requirements.
Authorizes appropriations.
Terminates loan guarantee authority after FY 1996.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Housing and Community Development.
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