A bill to establish a Federal guaranteed loan program to provide for the protection from shoreline erosion of improvements to residential real property contiguous with the Great Lakes.
Great Lakes Emergency Shoreline Protection Act - Establishes a federally guaranteed loan program for the protection from shoreline erosion of improvements to residential real property contiguous with the Great Lakes. Sets forth conditions for eligibility for such loans and conditions under which States may subsidize such loans.
Sets forth authorities of the Secretary of Housing and Urban Development regarding such loans, including authority to establish limitations on interest rates on eligible loans, to make foreclosures, and transfer guarantees.
Directs the Secretary of the Army, acting through the Chief of Engineers, to develop minimum standards with respect to protection from shoreline erosion.
Directs the Secretary of the Army, acting through the Chief of Engineers, to report to the Congress on damage from subsurface water seepage.
Requires the Secretary of Housing and Urban Development and the Secretary of the Army to submit to the Congress a single report on the effectiveness of the shoreline protection program.
Authorizes appropriations for FY 1987 through 1992.
Read twice and referred to the Committee on Banking.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Housing and Community Development.
Referred to House Committee on Public Works and Transportation.
Referred to Subcommittee on Water Resources.
Executive Comment Requested from Army, Treasury, OMB.
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