A bill to amend the National Housing Act to provide an opportunity for a hearing prior to a determination by the Secretary of Housing and Urban Development to preempt any State or local rent regulation with respect to unsubsidized rental housing insured under such Act.

Amends the National Housing Act to provide an opportunity for an administrative hearing prior to a determination by the Secretary of Housing and Urban Development to approve or disapprove the request of any mortgagor of unsubsidized rental housing insured under such Act for a rent increase otherwise prohibited under State or local law. Permits the Secretary to: (1) authorize the Federal Housing Commissioner to make such a determination; and (2) designate an employee other than an administrative law judge to preside at the taking of evidence in such a hearing. Provides that the following persons shall be considered to be interested parties in such a hearing: (1) the mortgagor, mortgagee, and tenants of the housing involved; and (2) the State or local government involved.