[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 2561 Introduced in Senate (IS)]

103d CONGRESS
  2d Session
                                S. 2561

To provide for the extension of the Farmers Home Administration program 
    under section 515 of the Housing Act of 1949 and other programs 
             relating to housing and community development.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

            October 8 (legislative day, September 12), 1994

   Mr. Bond introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To provide for the extension of the Farmers Home Administration program 
    under section 515 of the Housing Act of 1949 and other programs 
             relating to housing and community development.

    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 ``Housing Programs Extension Act of 
1994''.

SEC. 2. HOUSING ASSISTANCE.

    (a) Expiring Section 8 Contracts.--
            (1) Requirement.--Subject only to the availability of 
        budget authority to carry out this section, not later than 
        October 1, 1995, the Secretary of Housing and Urban Development 
        shall make an offer to the owner of each housing project 
        assisted under an expiring contract to extend the term of the 
        expiring contract for 24 months beyond the date of the 
        expiration of the contract.
            (2) Terms of extension.--Except for terms or conditions 
        relating to the duration of the contract, the terms and 
        conditions under the extension provided pursuant to this 
        subsection of any expiring contract shall be identical to the 
        terms and conditions under the expiring contract.
            (3) Definition of expiring contract.--For purposes of this 
        subsection, the term ``expiring contract'' means a contract for 
        assistance pursuant to section 8(b)(2) of the United States 
        Housing Act of 1937 (as such section existed before October 1, 
        1983), including a contract for assistance referred to in 
        section 209(b) of the Housing and Urban-Rural Recovery Act of 
        1983, having a term that expires before October 1, 1996.
            (4) Displacement assistance.--The Secretary of Housing and 
        Urban Development may make available to tenants residing in 
        units covered by an expiring contract that is not extended 
        pursuant to this subsection either--
                    (A) tenant-based assistance under section 8 of the 
                United States Housing Act of 1937; or
                    (B) a unit with respect to which project-based 
                assistance is provided under section 8 of the United 
                States Housing Act of 1937.
            (5) Authorization of appropriations.--There are authorized 
        to be appropriated such sums as may be necessary to carry out 
        this subsection.
    (b) Low-Income Housing Preservation and Resident Homeownership 
Act.--
            (1) Acquisition grants.--Section 234(b) of the Housing and 
        Community Development Act of 1987 (12 U.S.C. 4124(b)) is 
        amended by striking ``1993,'' and all that follows through 
        ``1994,'' and inserting ``1995''.
            (2) Technical assistance and capacity building.--Section 
        257 of the Housing and Community Development Act of 1987 (12 
        U.S.C. 4147) is amended by striking ``1993,'' and all that 
        follows through ``1994,'' and inserting ``1995''.
    (c) Use of Section 236 Rental Assistance Fund Amounts for Flexible 
Subsidies.--Section 236(f)(3) of the National Housing Act (12 U.S.C. 
1715z-1(f)(3)) is amended by striking ``September 30, 1994'' and 
inserting ``September 30, 1995''.
    (d) Housing Counseling.--
            (1) Emergency homeownership counseling.--Section 106(c)(9) 
        of the Housing and Urban Development Act of 1968 (12 U.S.C. 
        1701x(c)(9)) is amended by striking ``September 30, 1994'' and 
        inserting ``September 30, 1995''.
            (2) Prepurchase and foreclosure prevention counseling 
        demonstration.--Section 106(d)(13) of the Housing and Urban 
        Development Act of 1968 (12 U.S.C. 1701x(d)(13)) is amended by 
        striking ``fiscal year 1994'' and inserting ``fiscal year 
        1995''.
    (e) Major Reconstruction of Public Housing for Disabled Families.--
Section 5(j)(2)(G)(i) of the United States Housing Act of 1937 (42 
U.S.C. 1437e(j)(2)(G)(i)) is amended by striking ``fiscal years 1993 
and 1994'' and inserting ``fiscal year 1995''.

SEC. 3. RURAL HOUSING.

    (a) Underserved Areas Set-Aside.--Section 509(f)(4)(A) of the 
Housing Act of 1949 (42 U.S.C. 1479(f)(4)(A)) is amended--
            (1) in the first sentence, by striking ``fiscal years 1993 
        and 1994'' and inserting ``fiscal year 1995''; and
            (2) in the second sentence, by striking ``each''.
    (b) Rural Multifamily Rental Housing.--Section 515(b) of the 
Housing Act of 1949 (42 U.S.C. 1485(b)) is amended--
            (1) by striking paragraph (4); and
            (2) by redesignating paragraphs (5) and (6) as paragraphs 
        (4) and (5), respectively.
    (c) Rural Rental Housing Funds for Nonprofit Entities.--The first 
sentence of section 515(w)(1) of the Housing Act of 1949 (42 U.S.C. 
1485(w)(1)) is amended by striking ``fiscal years 1993 and 1994'' and 
inserting ``fiscal year 1995''.

SEC. 4. MORTGAGE INSURANCE AND SECONDARY MORTGAGE MARKET PROGRAMS.

    (a) Multifamily Housing Finance.--Section 542(b)(5) of the Housing 
and Community Development Act of 1992 (12 U.S.C. 1707 note) is amended 
by striking ``and 1994'' and inserting ``, 1994, and 1995''.
    (b) Assessment Collection Dates for Office of Federal Housing 
Enterprise Oversight.--Section 1316(b) of the Housing and Community 
Development Act of 1992 (12 U.S.C. 4516(b)) is amended by striking 
paragraph (2) and inserting the following:
            ``(2) Timing of payment.--The annual assessment shall be 
        payable in installments on October 1 and April 1 of each fiscal 
        year.''.

SEC. 5. COMMUNITY DEVELOPMENT.

    Section 916(f) of the Cranston-Gonzalez National Affordable Housing 
Act (42 U.S.C. 5306 note) is amended by striking ``Act shall apply only 
with respect to fiscal years 1991, 1992, 1993, and 1994'' and inserting 
``section shall not apply to fiscal years after fiscal year 1995''.
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