Elderly and Handicapped Housing Act of 1979 - Amends the Housing Act of 1959 to increase the debt limitation to $5,760,000,000 by October 1, 1981, on obligations issued by the Secretary of Housing and Urban Development in order to finance the loan program for housing and related facilities for the elderly and handicapped.
Authorizes the Secretary to consider, in reviewing loan applications under such Act, the extent to which a project will: (1) stabilize or revitalize a community; (2) serve as relocation housing for displaced elderly and handicapped families; and (3) economically rehabilitate structures with architectural, historical, or cultural significance.
Directs the Secretary to provide technical assistance to inexperienced applicants, particularly members of minorities, in order to enable them to more fully participate in the loan program.
Requires the Secretary to adjust the amount of monthly assistance payments, authorized by the United States Housing Act of 1937, extended to a project receiving a loan, to reflect any change in the interest rate between the date such assistance was reserved and the date of settlement on permanent financing for the project.
Requires the Secretary to transmit a report to the Congress on means to reduce the costs of the loan program without unduly burdening sponsors or reducing its effectiveness.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
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