A bill to extend the authorization for the low income housing program.

Amends the United States Housing Act of 1937 to authorize the Secretary of Housing and Urban Development to enter into contracts to provide a specified amount of contributions for lower income housing projects during FY 1983. Limits the aggregate amount that may be obligated over the life of such contracts. Earmarks a specified portion of such authority for improvement assistance for existing projects. Authorizes appropriations for public housing operating subsidies for FY 1983.