American Homeownership Act of 1998

TABLE OF CONTENTS:

Title I: Removal of Barriers to Affordable Housing

Title II: Homeownership Through Mortgage Insurance and Loan

Guarantees

Title III: Section 8 Homeownership Option

Title IV: Home Investment Partnerships Program

Title V: Local Homeownership Initiatives

Title VI: Manufactured Housing Improvement

Title VII: Indian Housing Homeownership

Title VIII: Transfer of Unoccupied and Substandard HUD-Held

Housing to Local Governments and Community Development Corporations

American Homeownership Act of 1998 - Title I: Removal of Barriers to Affordable Housing - Affordable Housing Barrier Removal Act of 1998 - Requires proposed and final agency rules to analyze their impact upon affordable housing availability, including provision for interested parties to offer alternatives, which shall be incorporated into the final rule if found to accomplish required objectives with a less deleterious effect upon housing.

Directs the Secretary of Housing and Urban Development (HUD) to develop model housing impact analyses.

(Sec. 103) Amends the Housing and Community Development Act of 1992 to authorize FY 1999 through 2003 direct appropriations for State and local grants for regulatory barrier removal. Makes consortia of local governments eligible grantees. Requires grant use in coordination with the local comprehensive affordability strategy (CHAS) under the Cranston-Gonzalez National Affordable Housing Act.

(Sec. 104) Amends the Housing and Community Development Act of 1974 to require jurisdictions to make good faith efforts at affordable housing barrier removal in order to qualify for community development block grants (CDBG) (without creating a private right of action).

(Sec. 105) Amends the Housing and Community Development Act of 1992 to state that the regulatory barriers clearinghouse shall be established within the Office of Policy Development of HUD under the direction of the Assistant Secretary for Policy Development and Research.

Title II: Homeownership Through Mortgage Insurance and Loan Guarantees - Amends the National Housing Act to authorize the Secretary to increase the number of adjustable single family mortgages and loans that may be insured each year by up to 40 percent of the previous year's number of mortgages.

(Sec. 202) Directs the Comptroller General to conduct a Federal Housing Administration (FHA) housing inspection study.

(Sec. 203) Authorizes the Secretary to treat a county or statistical area and contiguous or proximate counties as a single area for certain loan insurance limitation purposes using the highest median price for such determination.

(Sec. 204) Amends the National Housing Act to increase the manufactured home lot loan term from 15 years, 32 days to 20 years, 32 days.

(Sec. 205) Amends the National Housing Act to repeal prior insurance requirements for new home construction.

(Sec. 206) States that upon enactment, the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999 shall be amended to entitle a specified section as the "Joseph P. Kennedy II Homeownership Rehabilitation Demonstration Grant Act." (Such Act was subsequently enacted as P.L.105-276.) Makes specified amounts from the Mutual Mortgage Insurance Fund available for the FY 1999 rehabilitation demonstration grant program.

Title III: Section 8 Homeownership Option - Amends the United States Housing Act to provide an homeownership option under the section 8 housing assistance program, including downpayment assistance, beginning with FY 2000.

Title IV: Home Investment Partnerships Program - Amends the Cranston-Gonzalez National Affordable Housing Act to authorize FY 1999 through 2003 appropriations for affordable housing programs. Prohibits set-asides other than specified amounts for: (1) community housing partnership activities; and (2) activities in support of State and local housing strategies.

(Sec. 402) Makes limited equity cooperatives and mutual housing associations eligible for home investment partnerships.

(Sec. 403) Permits loan pool investment of partnership funds.

(Sec. 404) Authorizes the Secretary to make home investment partnerships loan guarantees. Sets forth an aggregate loan guarantee limitation.

Title V: Local Homeownership Initiatives - Amends the Neighborhood Reinvestment Corporation Act to authorize FY 1999 through 2003 appropriations for the Neighborhood Reinvestment Corporation, including a pilot homeownership initiative set-aside.

(Sec. 502) Amends the Housing and Community Development Act of 1992 to revise the homeownership zone grant program, including providing: (1) grant eligibility for units of general local government (currently nonprofit organizations); and (2) assistance targeting for specified low-income homebuyers. Authorizes FY 1999 and 2000 appropriations.

(Sec. 503) Expresses the sense of the Congress in favor of lease- to-own tenancies as homeownership tools.

(Sec. 504) Amends the HUD Demonstration Act of 1993 to make the National Association of Housing Partnerships eligible for local capacity grants. Removes the specified amount of authorized appropriations.

Title VI: Manufactured Housing Improvement - Manufactured Housing Improvement Act - Amends the National Manufactured Housing Construction and Safety Standards Act of 1974 to revise Federal construction and safety provisions for manufactured homes based upon a consensus standards development process.

Eliminates the National Manufactured Home Advisory Council.

Title VII: Indian Housing Homeownership - Establishes the Indian Lands Status Commission which shall analyze and evaluate the Bureau of Indian Affairs' land recording and documentation system. Terminates the Commission one year after appointment of its members. Authorizes appropriations.

Title VIII: Transfer of Unoccupied and Substandard HUD-Held Housing to Local Governments and Community Development Corporations - Amends the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997 to direct the Secretary of Housing and Urban Development to transfer ownership of qualified HUD-held properties (substandard or unoccupied multifamily or unoccupied single family properties) to local governments and community development corporations under specified conditions.

(Sec. 802) States that upon enactment the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999 shall be amended to permit property unable to be sold under the revitalization area disposition program to be disposed of under this title.

(Sec. 803) Directs the Secretary to report on revitalization zones for HUD-held single family properties.

(Sec. 804) Makes technical corrections to the Multifamily Assisted Housing Reform and Affordability Act of 1997, the Balanced Budget Downpayment Act, I, and upon enactment, the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999.