To provide for the conversion of housing projects for elderly persons financed by direct loans to financing under project rental assistance contracts.
Senior Citizens' Housing Financial Restructuring Act of 1998 - Authorizes the Secretary of Housing and Urban Development, with the consent of the owner, to convert certain housing projects for the elderly from direct loan financing to rental assistance contract financing.
Authorizes related debt forgiveness and section 8 contract cancellation.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services.
Sponsor introductory remarks on measure. (CR E582-583)
Referred to the Subcommittee on Housing and Community Opportunity.
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