Rural Housing Assistance Act of 1984

(Measure passed House, amended)

Rural Housing Assistance Act 1984 - Amends the Housing Act of 1949 to require that at least 40 percent of the dwelling units financed with Federal rural housing assistance be made available only to very low-income families or persons in each fiscal year succeeding FY 1984 and to the maximum extent practicable in FY 1984. Directs the Secretary of Agriculture to establish procedures to: (1) ensure compliance with such requirement; and (2) ensure that the provision of such assistance to families and persons who are not very low-income families and persons is not delayed because of such requirement. Directs the Secretary to give a priority to processing assistance applications submitted by very low-income families and persons. Repeals a requirement that at least 30 percent of the dwelling units financed with such assistance in each State be made available only to very low-income persons.

Authorizes the Secretary to adjust income levels for "low-income" and "very low-income" persons and families for purposes of assistance eligibility when necessary because of prevailing levels of construction costs, unusually high or low family incomes, or other factors.