Housing Act of 1986

Housing Act of 1986 - Title I: Program Extensions and Amendments - Subtitle A: General Extension of Programs - Amends the National Housing Act to extend authority through September 30, 1987, for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) mortgage co-insurance, including rental rehabilitation and development projects; (5) graduated payment and indexed mortgage insurance; (6) the demonstration mortgage reinsurance program; (7) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (8) mortgage insurance for land development; and (9) mortgage insurance for medical and dental group practice facilities.

Amends the Housing Act of 1949 to extend Farmers Home Administration authority through September 30, 1987, for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; and (2) mutual and self-help housing grant and loan authority.

Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones through September 30, 1987.

Amends the Housing and Urban-Rural Recovery Act of 1983 to extend through September 30, 1987, the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families.

Subtitle B: Mortgage Insurance and Secondary Mortgage Market Programs - Amends the National Housing Act to direct the Secretary of Housing and Urban Development (Secretary) to enter into fiscal year mortgage insurance commitments with an aggregate principal amount equal to (but no more than) the amount provided in appropriation Acts.

Sets premium charge limits for Federal Housing Administration (FHA) mortgage insurance. Requires the Secretary to certify to the Congress 90 days prior to any fee increase that such increase is solely for the purpose of meeting anticipated insurance claims and administrative expenses.

Increases FHA authority to insure adjustable rate single family mortgages.

Amends the Federal National Mortgage Association Charter Act to extend authority through FY 1987 for the Federal National Mortgage Association mortgage-backed securities program.

Prohibits (with specified exceptions) the imposition of user fees on Government sponsored secondary mortgage market agencies.

Subtitle C: Community and Neighborhood Development and Conservation Programs - Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through September 30, 1986. Reduces grants by 50 percent to any such entity that loses its entitlement classification, with the remaining 50 percent allocated to the small city community development program (for which such entity would be eligible).

Considers the counties of Kauai, Maui, and Hawaii in the State of Hawaii as cities for purposes of the urban development action grant (UDAG) program.

Authorizes FY 1987 appropriations for: (1) UDAG; (2) urban homesteading; and (3) community development block grants. Obligates specified FY 1987 funds for the discretionary fund.

Terminates the loan guarantee program as of October 1, 1986, or the date of enactment of this Act, whichever occurs later.

Modifies UDAG selection criteria.

Amends the Neighborhood Reinvestment Corporation Act to authorize FY 1987 appropriations for the Neighborhood Reinvestment Corporation.

Terminates the Housing Act of 1964 rehabilitation loan program (urban renewal) as of October 1, 1986, or the date of enactment of this Act, whichever occurs later.

Subtitle D: Miscellaneous Program Amendments - Amends the Housing and Urban Development Act of 1970 to authorize FY 1987 appropriations for housing research and project development.

Amends the Housing and Urban Development Act of 1966 to authorize FY 1987 appropriations for low- and moderate- income housing counseling and technical advice.

Amends the National Flood Insurance Act of 1968 to authorize FY 1987 appropriations for flood insurance program studies.

Terminates the crime insurance program.

Amends the Home Mortgage Disclosure Act of 1975 to exempt depository institutions with $25,000,000 (currently $10,000,000) or less in total fiscal year assets from the provisions of such Act.

Directs the Secretary to report to the Congress within six months on 1981 through 1985 manufactured home inspection fees.

Authorizes the Secretary to require HUD applicants or participants to provide social security or employer identification numbers in order to verify eligibility.

Title II: Housing Assistance - Subtitle A: Programs Under United States Housing Act of 1937 - Amends the United States Housing Act of 1937 to authorize FY 1987 budget authority for lower income housing.

Authorizes public housing agencies (PHAs) to set tenant rent contributions for a five-year period. Sets maximum and minimum rent levels.

Provides a six-month phase-in for public housing rent increases due to a resident's obtaining employment.

Authorizes grants to PHAs for: (1) public housing project development costs; and (2) comprehensive improvement assistance.

Requires: (1) 15-year terms for annual contributions contracts for (section 8) existing dwellings; (2) administrative and preliminary fees to be calculated according to the method in effect prior to January 1, 1985; and (3) an annual adjustment of fair market rents as of October 1 of each year.

Directs the Secretary to provide payments for operating lower income housing projects through a performance funding system. Authorizes FY 1987 appropriations.

Authorizes FY 1987 appropriations for rental rehabilitation grants.

Terminates the housing development grant program as of October 1, 1986, or the date of enactment of this Act, whichever occurs later.

Authorizes public housing comprehensive grants to improve the physical condition of existing projects and upgrade their management and operation. Authorizes FY 1987 through 1989 appropriations.

Permits residents of public housing projects (with the assistance of a public housing management specialist) to form resident management corporations. Requires such corporations to obtain fidelity bonding and insurance. Provides for: (1) waiving of certain statutory and regulatory requirements; (2) rentention of excess revenues; and (3) resident management technical assistance and training. Sets forth conditions for PHA financial assistance.

Subtitle B: Other Housing Assistance Programs - Amends the Housing Act of 1959 to authorize FY 1987 appropriations for housing for the elderly or the handicapped.

Requires that at least 15 percent of annual appropriations for such elderly or handicapped housing be allocated for the nonelderly handicapped.

Directs the Secretary to establish new and more appropriate housing and related service options for the nonelderly handicapped. Replaces the existing subsidy system with a 240-month contract to cover actual costs not covered by project income.

Amends the Congregate Services Act of 1978 to authorize FY 1987 appropriations for congregate services.

Title III: Rural Housing - Amends the Housing Act of 1949 to extend rural housing insurance and guaranty authority through FY 1987.

Authorizes FY 1987 appropriations for farm labor housing.

Authorizes the Secretary, as approved in FY 1987 appropriations, to enter into rental assistance payment contracts.

Extends authority through FY 1987 for the Self-Help Housing Land Development Fund.

Extends the 10,000 to 20,000 population rural area classification date to September 30, 1986.

Provides that maximum income levels for rural housing programs in the Virgin Islands shall be the same as those for Guam, American Samoa, the Northern Mariana Islands, and the Trust Territory of the Pacific Islands.

Directs the Secretary to establish rural housing escrow accounts.

Title IV: Shelter Assistance for the Homeless and Displaced - Subtitle A: Emergency Food and Shelter Program - Homeless Housing Assistance Act of 1986 - Requires the Director of the Federal Emergency Management Agency (FEMA) to constitute an emergency food and shelter program national board of volunteer agencies together with FEMA.

Directs the Secretary to constitute a similar board by September 30, 1986. Transfers, as of such date, the personnel, property, records, and undistributed program funds of the FEMA board to the Emergency Food and Shelter Program National Board.

States that such boards shall distribute program funds to localities (which shall constitute local boards) with the greatest need for emergency food and housing assistance. Requires the local board to submit to the national board an annual local homeless housing assistance plan. Limits administrative costs to not more than three percent of appropriations. Authorizes FY 1987 appropriations.

Subtitle B: Emergency Shelter Grants Program - Directs the Secretary to establish an emergency shelter grant program for: (1) renovation and conversion of buildings as emergency shelters; (2) provision of essential services; and (3) shelter maintenance and operation.

Directs the Secretary to allocate grants to States, metropolitan cities, and urban counties under the same formula used for the community block grant program. States that if a metropolitan city or urban county would receive a fiscal year grant of less than $30,000, such sum shall instead be reallocated to the State.

Authorizes local governments to distribute such grants to nonprofit organizations.

Requires grantees to provide matching funds and a certification of use.

Authorizes FY 1987 appropriations