To amend the Solid Waste Disposal Act to authorize the Secretary of Housing and Urban Development to guarantee loans to homeowners with properties contaminated by leaking underground storage tanks, to assist such homeowners in moving from such properties on a temporary or permanent basis.
Permits loans to be used for other residences or to obtain equity in the property.
Imposes income restrictions on borrowers.
Requires public housing agencies to physically maintain qualified (entitled to a loan guarantee) property under its jurisdiction.
Requires the loans to pay reasonable interest and the Secretary to fix and collect loan guarantee fees. Directs the Secretary to issue a certificate of guarantee for approved loans.
Sets forth loan default procedures, providing for foreclosure, assignment, and forgiveness, as specified.
Establishes in the Treasury a loan guarantee fund to be credited with loan collections, guarantee fees, and interest and to pay costs of the program to the extent that amounts in the fund are made available by appropriations acts.
Introduced in House
Introduced in House
Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Housing and Community Opportunity.
Referred to the Subcommittee on Environment and Hazardous Materials, for a period to be subsequently determined by the Chairman.
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