Housing Authorization Act

(Measure passed House, amended, roll call #310 (332-27))

Housing Authorization Act - Increases the authorization of funds for the following programs administered by the Secretary of the Department of Housing and Urban Development (HUD): (1) housing assistance; (2) comprehensive planning; (3) research; and (4) flood insurance.

Increases mortgage limitations under the National Housing Act homeownership assistance programs.

Extends assistance under the Emergency Homeowners' Relief Act and the Emergency Home Purchase Assistance Act through fiscal year 1977.

Reallocates community development block grant funds under the Housing and Community Development Act.

Amends the Flood Disaster Protection Act of 1973 to exempt from provisions of the Act requiring flood insurance, any loan to finance a residence acquired prior to March 1, 1976, or one year following identification of the area where such building is located as a flood hazard area, whichever is later.

Sets limitations on the funds available for the Rehabilitation Loan Program of the Housing Act of 1964 for fiscal year 1977.

Authorizes appropriations of $500,000,000 to cover losses sustained by the General Insurance Fund under the National Housing Act.

Amends the United States Housing Act of 1937 to increase construction and rehabilitation of units in connection with the Housing Assistance Payments Program. Extends the period of assistance payments for low-income housing where the dwelling unit is unoccupied, so long as a good faith effort is made to fill the unit and the unit provides decent, safe, and sanitary housing.

Amends the Community Development Act of 1974 to allow the Secretary of Housing and Urban Development to extend discretionary grant funds to specified new community projects.

Increases from $800,000,000 to $1,475,000,000, and to $2,387,500,000 on October 1, 1977, and to $3,300,000,000 on October 1, 1978, the amount authorized to be appropriated for long-term direct loans to nonprofit sponsors for construction of housing for the elderly and the handicapped. Expands the term "elderly or handicapped families" for such purposes.

Provides that the housing for the elderly program will be on-budget beginning in fiscal year 1978.

Provides that social security benefit increases occurring after May 1976 shall not be considered as income or otherwise taken into account for purposes of determining the amount of the rental which any individual or family is required to pay for accomodations under specified housing Acts.

Provides, under the National Housing Act, that when the mortgagee is a public housing agency or an insured depository institution and the mortgage covers a multifamily housing project, the co-insurance contract may require the lender to bear the full amount of any loss up to an amount equal to a fixed percentage of the outstanding principal balance of a mortgage or a portfolio of mortgages.

Increases mortgage limits under FHA's multifamily housing programs by 20 percent and reduces the highcost area increment from 75 to 50 percent.

Authorizes the Secretary to implement a mortgage insurance program to provide housing for military personnel, Federal civilian employees, Federal contractor employees employed at military installations, and other residents in areas determined to be militarily impacted.

Directs the Secretary to undertake programs of studies and demonstrations within at least three standard metropolitan statistical areas to determine the extent of need for and cost effectiveness of providing pre-purchase, default and delinquency counseling and related services to owners and purchasers of single-family dwellings insured or to be insured under the subsidized mortgage insurance programs of the National Housing Act.