Housing and Community Development Amendments of 1979

Housing and Community Development Amendments of 1979 - Title I: Community and Neighborhood Development and Conservation - Amends the Housing Act of 1964 to extend and authorize appropriations for the housing rehabilitation loan program through fiscal year 1981.

Amends the Housing Act of 1954 to authorize appropriations through fiscal year 1981 to assist State and local governments in planning development programs.

Amends the Housing and Community Development Amendments of 1978 to authorize appropriations through fiscal year 1981 for: (1) neighborhood self-help development grants; and (2) assistance to States, local governments, and other organizations for the development of artistic, cultural and historic resources under the livable cities program.

Amends the Housing and Community Development Act of 1974 to: (1) increase the authorization of appropriations for supplemental grant assistance under the community development block grant program for fiscal year 1980; (2) remove statutory restrictions based on census statistics defining the authority of the Secretary of Housing and Urban Development to waive procedural requirements in awarding grants; and (3) provide for a pro-rata distribution of funds among programs in the event of a funding deficiency in fiscal year 1980.

Title II: Housing Assistance Programs - Amends the United States Housing Act of 1937 to authorize appropriations for annual contributions to low-income housing projects and operating services through fiscal year 1981.

Amends the Housing and Community Development Amendments of 1978 to require rental and cooperative housing projects to be covered by an insured mortgage under the National Housing Act in order to be eligible for operating assistance. Provides for the funding of such operating assistance through fiscal year 1981 by authorizing appropriations and utilizing amounts in the reserve fund created from excess rental charges by owners of housing projects receiving interest reduction payments.

Title III: Program Amendments and Extensions - Amends the National Housing Act to extend the following mortgage insurance programs of the Federal Housing Administration: (1) housing renovation and modernization; (2) general insurance authorization; (3) housing for moderate income and displaced families; (4) membership in cooperative associations for lower income families; (5) rental housing for low income families; (6) coinsurance of mortgages; (7) experimental housing; (8) armed services housing; (9) group practice facilities and medical practice facilities; (10) new communities; and (11) crime and riot reinsurance.

Permits the Secretary of Housing and Urban Development to insure, on a permanent basis, mortgages and loans with provisions for varying rates of amortization through fiscal year 1980.

Extends the Emergency Home Purchase Assistance program through fiscal year 1980.

Authorizes the Secretary, as an alternative to the acquisition of an insured mortgage to avoid foreclosure, to make all or part of the monthly payments due on an insured mortgage of a one to four family residence necessary to avoid default caused by circumstances beyond the mortgagor's control. Stipulates that such payments may be provided for a period of up to 18 months which may be extended for an additional 18 months at the discretion of the Secretary. Terminates the authority to make such payments on September 30, 1984.

Authorizes the Secretary to insure mortgages involving a principal amount exceeding statutory limitations by up to 25 percent, if the Secretary determines such action is necessary to enable low-income families to remain homeowners in an area undergoing significant revitalization.

Authorizes appropriations for research and demonstration housing projects through fiscal year 1981.

Amends the National Housing Act to authorize appropriations, without limitation, to cover losses sustained by the General Insurance Fund.

Extends the authority of the Secretary to issue obligations to finance housing programs for the elderly and handicapped.

Repeals the provision of the Department of Housing and Urban Development Act which delays the effective date of a regulation promulgated by the Secretary until 90 days from congressional committee action on legislation which would modify or invalidate such regulation.