A bill to amend title 5 of the Housing Act of 1949, to broaden the categories of families eligible to purchase homes on certain lands developed by public and private nonprofit organizations, and for other purposes.

States that for the purposes of financial assistance for farm housing under the Housing Act of 1949 an applicant who is a resident of Oklahoma and whose annual family income is less than $11,000 is deemed to be without sufficient resources to provide the necessary hosuing and buildings on his own account that are required under the Act.

Provides that loans to nonprofit organizations to provide building sites for eligible families under the Housing Act of 1949 shall be repaid within five years from the making of the loan.