A bill to amend title V of the Housing Act of 1949.

Amends the Housing Act of 1949 to authorize appropriations through fiscal year 1980 for: (1) payments on obligations issued to finance rural housing programs; and (2) assistance for low-rent housing for domestic farm labor.

Extends the loan insurance programs for rural housing for the elderly and for farm buildings until 1981.

Permits the extension of new loans in any fiscal year of up to $440,000,000 in aggregate principal amount for low-income individuals receiving additional assistance under the rural housing program.

Authorizes assistance payments for up to 40 percent of the units in a rural multifamily housing project.

Authorizes appropriations for fiscal year 1980 for mutual and self-help housing assistance and extends such program through fiscal year 1981.

Authorizes appropriations for deposits in the Self-Help Housing Land Development Fund for fiscal year 1980.

Authorizes appropriations through fiscal year 1980 for grants and contracts with public and private entities providing assistance in rural housing programs.

Authorizes such sums as may be necessary in fiscal year 1981 for the programs funded by this Act for fiscal year 1980.