Housing and Community Development Amendments of 1981

Housing and Community Development Amendments of 1981 - Title I: Community and Neighborhood Development and Conservation - Amends the Housing and Community Development Act of 1974 to: (1) authorize appropriations for fiscal year 1982 for grants to metropolitan areas for Community Development Programs; and (2) to limit the amount of commitments to guarantee notes and other obligations which the Secretary may enter into with respect to community development loan guarantees in fiscal year 1982.

Amends the Housing Act of 1964 to increase the amount of funds authorized for rehabilitation loans and to limit the amount of commitments to make such loans for fiscal year 1982.

Amends the Housing Act of 1954 to reduce the funds authorized to be appropriated for fiscal year 1982 for grants for activities relating to the development of comprehensive plans for community development, employment, and conservation, and to restrict the use of such funds to carrying out the clearinghouse functions required by OMB Circular A-95.

Amends the Neighborhood Self-Help Development Act of 1978 to authorize appropriations for fiscal year 1982 for grants for community development to neighborhood organizations.

Amends the Neighborhood Reinvestment Corporation Act to authorize appropriations for the Corporation for fiscal year 1982.

Title II: Assisted Housing - Amends the United States Housing Act of 1937: (1) to increase, on October 1, 1981, the maximum amount of annual contractual contributions which the Secretary of Housing and Urban Development may make to low-income housing; (2) to limit the amount which may be obligated over the duration of such contracts with respect to additional authority provided after October 1, 1981; (3) to allocate such additional authority; and (4) to authorize appropriations to fiscal year 1982 for annual contributions for the operation of low-income housing projects.

Amends the Housing and Community Development Amendments of 1978 to authorize fiscal year 1982 appropriations for operating assistance for troubled multifamily housing projects, with restrictions on the use of such funds for operating deficits resulting from failures to amend project contracts. Amends the National Housing Act to prohibit the approval of the appropriation of funds for such assistance after September 30, 1982.

Amends the National Housing Act to authorize the Secretary to provide additional assistance payments of a specified amount per year to lower income families for acquiring home ownership or membership in a cooperative association.

Title III: Program Amendments and Extensions - Amends the National Housing Act to extend the Secretary's authority to insure loans for mortgages and home improvement. Extends the Secretary's authority to establish the maximum interest rates for certain mortgage insurance programs. Limits the maximum principal amount of loans and mortgages that the Secretary may insure under such Act in fiscal year 1982.

Amends the Emergency Home Purchase Assistance Act of 1974 to extend the authority of the Secretary to direct the Government National Mortgage Association to purchase mortgages and securities.

Amends the Housing Act of 1959 to limit the amount of loans the Secretary may make for the provision of housing for elderly or handicapped families in fiscal year 1982.

Amends the Housing and Urban Development Act of 1970 to authorize appropriations for research for the Department of Housing and Urban Development in fiscal year 1982.

Amends the National Housing Act to increase the amount of funds authorized to be appropriated to cover losses sustained by the General Insurance Fund.

Amends the Federal National Mortgage Association Charter Act to: (1) increase, on October 1, 1981, the limitation on the total amount of commitments authorized for the Government National Mortgage Association; and (2) to limit the aggregate principal amount of mortgages that the Association may purchase and the amount of securities issued by the Federal National Mortgage Association that the Association may guarantee during fiscal year 1982.

Amends the Housing and Community Development Act of 1975 to direct the President to appoint two of the members of the Board of Directors of the National Institute of Building Sciences selected each year, and to extend the authorization for the Institute through fiscal year 1987.

Amends the Energy Conservation in Existing Buildings Act of 1976 to authorize appropriations for the weatherization program for fiscal year 1982.

Title IV: Flood, Crime, and Riot Insurance - Amends the National Flood Insurance Act of 1968 to extend the national flood insurance program until September 30, 1983, and to authorize appropriations for various insurance studies during fiscal year 1982.

Amends the National Housing Act to extend: (1) the Secretary's powers to enter into contracts with respect to the Federal riot reinsurance program and the Federal crime insurance program until September 30, 1983; and (2) the deadline for submitting a plan for the liquidation of such programs to Congress until September 30, 1986.

Title V: Rural Housing - Amends the Housing Act of 1949 to authorize appropriations for fiscal year 1982 to the Secretary of Agriculture: (1) to insure and guarantee loans for rural housing, with certain restrictions; (2) to make loans and grants for improvements of rural housing; (3) to provide financial assistance for the provision of low- rent housing for domestic farm labor; (4) to make grants or contract for the development of programs to assist low-income persons in benefiting from housing programs in rural areas; and (5) to insure loans to provide rental housing for persons of moderate income in rural areas.

Terminates use of the Rural Housing Insurance Fund for certain rural housing loans as of October 1, 1981. Authorizes the Secretary of Agriculture to enter into contracts to provide: (1) interest credit payments with respect to such loans made during fiscal year 1982; (2) additional assistance payments to low income persons who are unable to afford dwellings with such interest credit payments; and (3) rental assistance payments. Authorizes appropriations for such payments in fiscal year 1982 with annual and aggregate limitations.

Authorizes fiscal year 1982 appropriations for: (1) programs of mutual and self-help housing in rural areas; and (2) the Self-Help Housing Land Development Fund.