[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3564 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 3564

To amend section 255 of the National Housing Act to make homeowners who 
 are at least 50 years of age and disabled or blind eligible for home 
        equity conversion mortgages insured under such section.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 19, 1993

 Mr. Lipinski introduced the following bill; which was referred to the 
            Committee on Banking, Finance and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To amend section 255 of the National Housing Act to make homeowners who 
 are at least 50 years of age and disabled or blind eligible for home 
        equity conversion mortgages insured under such section.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Disabled and Blind Homeowners Home 
Equity Conversion Mortgage Act''.

SEC. 2. DEFINITIONS.

    Section 255(b) of the National Housing Act (12 U.S.C. 1715z-20(b)) 
is amended--
            (1) in paragraph (1), by striking ``terms `elderly 
        homeowner' and `homeowner' mean'' and inserting ``term `elderly 
        homeowner' means''; and
            (2) by adding at the end the following new paragraph:
            ``(4) The term `homeowner' means an elderly homeowner or an 
        older disabled or blind homeowner.
            ``(5) The term `older disabled or blind homeowner' means 
        any homeowner who is, or whose spouse is--
                    ``(A) at least 50 years of age; and
                    ``(B) determined by the Secretary to be disabled or 
                blind under the meanings given such terms pursuant to 
                section 1614 of the Social Security Act, and in making 
                such a determination for an individual the Secretary 
                shall consider any previous determination of the 
                Secretary of Health and Human Services that the 
                individual is or is not disabled or blind for purposes 
                of such section.''.

SEC. 3. ELIGIBILITY REQUIREMENTS.

    Section 225(d)(2)(A) of the National Housing Act (12 U.S.C. 1715z-
20(d)(2)(A)) is amended by inserting ``or an older disabled or blind 
homeowner'' before the semicolon at the end.

SEC. 4. CONFORMING AMENDMENTS.

    Section 225 of the National Housing Act (12 U.S.C. 1715z-20(a)) is 
amended--
            (1) in subsection (a), by inserting ``and older disabled or 
        blind homeowners'' after ``homeowners'' each place it appears; 
        and
            (2) in subsection (c)(1), by inserting ``and older disabled 
        or blind homeowners'' after ``homeowners''.

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