To provide additional funds for affordable housing for low-income seniors, disabled persons, and others who lost their homes as a result of Hurricanes Katrina and Rita.

Summary: Gulf Coast Multifamily and Assisted Housing Recovery Act - Amends the Housing Act of 1959 to authorize additional appropriations to the Secretary of Housing and Urban Development to provide assistance to private nonprofit organizations and consumer cooperatives to expand the supply of supportive housing for low-income elderly persons meeting certain criteria relating to Hurricanes Katrina and Rita in 2005.

Amends the Cranston-Gonzalez National Affordable Housing Act to authorize additional appropriations to the Secretary to provide the same kind of assistance for low-income persons with disabilities.

Authorizes appropriations for the redevelopment (rebuilding or replacement) of housing authorized under the Housing Act of 1959 which was damaged or destroyed by Hurricane Katrina in New Orleans and in the Parish of St. Bernard.

Requires the Secretary to adjust the rent levels annually on a budget-based basis for eligible projects in a designated disaster area receiving rental assistance under the Housing Act of 1959 and the Cranston-Gonzalez National Affordable Housing Act.

Requires the Secretary to report to specified congressional committees on: (1) the number of project-based assistance contracts and units which were terminated in the designated disaster area after September 30, 2005; and (2) the specific developer, project name, location, number of units, and project description for each such project-based assistance contract.

Prohibits a project-based assistance payments contract for a covered assisted multifamily housing project from expiring or being terminated because of the damage or destruction of dwelling units in the project by Hurricane Katrina or Hurricane Rita.

Deems the expiration date of such a contract to be the later of the date: (1) specified in the contract; or (2) that is not less than three months after the dwelling units in such project, or in a replacement project, are first made habitable.

Requires the Secretary to develop and report to specified congressional committees on a written disaster response plan for federally assisted properties that receive assistance pursuant to such Acts.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Gulf Coast Multifamily and Assisted 
Housing Recovery Act''.

SEC. 2. ADDITIONAL SUPPORT FOR HOUSING LOW-INCOME ELDERLY PERSONS.

    Section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) is amended 
by adding at the end the following:
    ``(n) Additional Support for Low-Income Elderly Persons Displaced 
by Hurricanes Katrina and Rita.--
            ``(1) In general.--In addition to any amounts authorized 
        under subsection (m), for fiscal year 2009 there is authorized 
        to be appropriated $125,000,000 to the Secretary to provide 
        assistance pursuant to this section to private nonprofit 
        organizations and consumer cooperatives to expand the supply of 
        supportive housing for low-income elderly persons--
                    ``(A) who on August 28, 2005, for Hurricane Katrina 
                and September 24, 2005, for Hurricane Rita, were 
                residents in a designated disaster area;
                    ``(B) whose primary residence--
                            ``(i) was significantly damaged by 
                        Hurricane Katrina or Hurricane Rita or by 
                        flooding resulting from Hurricane Katrina or 
                        Hurricane Rita; or
                            ``(ii) is uninhabitable as a result of 
                        damage or flooding resulting from Hurricane 
                        Katrina or Hurricane Rita, including 
                        uninhabitability resulting from lack of 
                        electricity, water, or other services due to 
                        such damage or flooding; and
                    ``(C) who cannot, in the discretion of the 
                Secretary, afford to rebuild such residence.
            ``(2) Allocation of funds.--Of the amounts authorized to be 
        appropriated under paragraph (1), the Secretary shall 
        allocate--
                    ``(A) $55,000,000 to the State of Louisiana;
                    ``(B) $50,000,000 to the State of Mississippi; and
                    ``(C) $20,000,000 to the State of Alabama.
            ``(3) Definition.--As used in this subsection, the term 
        `designated disaster area' means any area in the States of 
        Alabama, Mississippi, and Louisiana that was the subject of a 
        disaster declaration by the President under title IV of the 
        Robert T. Stafford Disaster Relief and Emergency Assistance Act 
        (42 U.S.C. 5121 et seq.) in response to Hurricanes Katrina and 
        Rita of 2005.''.

SEC. 3. ADDITIONAL SUPPORT FOR LOW-INCOME PERSONS WITH DISABILITIES.

    Section 811 of the Cranston-Gonzalez National Affordable Housing 
Act (42 U.S.C. 8013) is amended by adding at the end the following:
    ``(o) Additional Support for Low-Income Persons With Disabilities 
Displaced by Hurricanes Katrina and Rita.--
            ``(1) In general.--In addition to any amounts authorized 
        under subsection (m), for fiscal year 2009 there is authorized 
        to be appropriated $75,000,000 to the Secretary to provide 
        assistance pursuant to this section to private, nonprofit 
        organizations to expand the supply of supportive housing for 
        persons with disabilities--
                    ``(A) who on August 28, 2005, for Hurricane Katrina 
                and September 24, 2005, for Hurricane Rita, were 
                residents in a designated disaster area;
                    ``(B) whose primary residence--
                            ``(i) was significantly damaged by 
                        Hurricane Katrina or Hurricane Rita or by 
                        flooding resulting from Hurricane Katrina or 
                        Hurricane Rita; or
                            ``(ii) is uninhabitable as a result of 
                        damage or flooding resulting from Hurricane 
                        Katrina or Hurricane Rita, including 
                        uninhabitability resulting from lack of 
                        electricity, water, or other services due to 
                        such damage or flooding; and
                    ``(C) who cannot, in the discretion of the 
                Secretary, afford to rebuild such residence.
            ``(2) Allocation of funds.--Of the amounts authorized to be 
        appropriated under paragraph (1), the Secretary shall 
        allocate--
                    ``(A) $35,000,000 to the State of Louisiana;
                    ``(B) $25,000,000 to the State of Mississippi; and
                    ``(C) $15,000,000 to the State of Alabama.
            ``(3) Definition.--As used in this subsection, the term 
        `designated disaster area' means any area in the States of 
        Alabama, Mississippi, and Louisiana that was the subject of a 
        disaster declaration by the President under title IV of the 
        Robert T. Stafford Disaster Relief and Emergency Assistance Act 
        (42 U.S.C. 5121 et seq.) in response to Hurricanes Katrina and 
        Rita of 2005.''.

SEC. 4. TARGETED HOUSING SUPPORT FOR LOW-INCOME ELDERLY PERSONS IN NEW 
              ORLEANS AND ST. BERNARD PARISH.

    There is authorized to be appropriated for the redevelopment 
(rebuilding or replacement) of housing authorized under section 202 of 
the Housing Act of 1959 (12 U.S.C. 1701q) which was damaged or 
destroyed as a result of Hurricane Katrina of 2005--
            (1) $2,500,000 to the City of New Orleans; and
            (2) $1,500,000 to the Parish of St. Bernard.

SEC. 5. USE OF BUDGET-BASED RENT INCREASES FOR SECTION 202 AND 811 
              PROJECTS IN A DESIGNATED DISASTER AREA.

    (a) Section 202.--Section 202 of the Housing Act of 1959 (12 U.S.C. 
1701q), as amended by section 2 of this Act, is further amended by 
adding at the end the following:
    ``(o) Approval of Rent Increases.--
            ``(1) In general.--The Secretary shall annually adjust the 
        rent levels on a budget-based basis of eligible projects to 
        support the increased cost of operating or rehabilitating such 
        projects.
            ``(2) Conditions.--Rent adjustments pursuant to this 
        section shall--
                    ``(A) be subject to adjustment by the Secretary 
                based on differences between estimated and actual costs 
                of operating or rehabilitating such projects; and
                    ``(B) not exceed the rent for comparable unassisted 
                units in the area.
            ``(3) Definitions.--As used in this section--
                    ``(A) the term `eligible project' means a project 
                that is--
                            ``(i) assisted under subsection (c)(2); and
                            ``(ii) located in a designated disaster 
                        area; and
                    ``(B) the term `designated disaster area' means any 
                area in the States of Alabama, Mississippi, and 
                Louisiana that was the subject of a disaster 
                declaration by the President under title IV of the 
                Robert T. Stafford Disaster Relief and Emergency 
                Assistance Act (42 U.S.C. 5121 et seq.) in response to 
                Hurricanes Katrina and Rita of 2005.''.
    (b) Section 811.--Section 811 of the Cranston-Gonzalez National 
Affordable Housing Act (42 U.S.C. 8013), as amended by section 3 of 
this Act, is further amended by adding at the end the following:
    ``(p) Approval of Rent Increases.--
            ``(1) In general.--The Secretary shall annually adjust the 
        rent levels on a budget-based basis of eligible projects to 
        support the increased cost of operating or rehabilitating such 
        projects.
            ``(2) Conditions.--Rent adjustments pursuant to this 
        section shall--
                    ``(A) be subject to adjustment by the Secretary 
                based on differences between estimated and actual costs 
                of operating or rehabilitating such projects; and
                    ``(B) not exceed the rent for comparable unassisted 
                units in the area.
            ``(3) Definitions.--As used in this section--
                    ``(A) the term `eligible project' means a project 
                that is--
                            ``(i) assisted under subsection (d)(2); and
                            ``(ii) located in a designated disaster 
                        area; and
                    ``(B) the term `designated disaster area' means any 
                area in the States of Alabama, Mississippi, and 
                Louisiana that was the subject of a disaster 
                declaration by the President under title IV of the 
                Robert T. Stafford Disaster Relief and Emergency 
                Assistance Act (42 U.S.C. 5121 et seq.) in response to 
                Hurricanes Katrina and Rita of 2005.''.

SEC. 6. PRESERVATION AND PROVISION OF PROJECT-BASED HOUSING FOR 
              AFFORDABLE HOUSING UNITS DAMAGED OR DESTROYED BY 
              HURRICANES KATRINA OR RITA.

    (a) Report on Terminated Project-Based Contracts in Designated 
Disaster Area.--Not later than 45 days after the date of enactment of 
this Act, the Secretary of Housing and Urban Development shall provide 
a report to the Committee on Banking, Housing, and Urban Affairs of the 
Senate and the Committee on Financial Services of the House of 
Representatives detailing--
            (1) information on the number of project-based assistance 
        contracts and units which were terminated in the designated 
        disaster area after September 30, 2005;
            (2) information on the specific developer, project name, 
        location, number of units, and project description for each 
        project-based assistance contract which was terminated in the 
        designated disaster area after September 2005; and
            (3) such additional information as the Committee on 
        Banking, Housing, and Urban Affairs of the Senate and the 
        Committee on Financial Services of the House of Representatives 
        shall reasonably require.
    (b) Tolling of Contract Term.--
            (1) In general.--Notwithstanding any other provision of 
        law, a project-based assistance payments contract for a covered 
        assisted multifamily housing project shall not expire or be 
        terminated because of the damage or destruction of dwelling 
        units in the project as a result of Hurricane Katrina or 
        Hurricane Rita.
            (2) Expiration date.--The expiration date of the contract 
        for a covered assisted multifamily housing project described 
        under paragraph (1) shall be deemed to be the later of--
                    (A) the date specified in the contract; or
                    (B) the date that is not less than 3 months after 
                the dwelling units in such project, or in a replacement 
                project, are first made habitable.
    (c) Owner Proposals for Reuse or Resiting of Affordable Units.--
Pursuant to section 215 of title II of division K of Public Law 110-161 
(121 Stat. 2433), the Secretary of Housing and Urban Development shall, 
not later than October 1, 2009, promptly review and approve--
            (1) any feasible proposal made by the owner of a covered 
        assisted multifamily housing project submitted to the Secretary 
        that provides for the rehabilitation of such project and the 
        resumption of use of the project-based assistance under the 
        contract for such project; or
            (2) the transfer, subject to the conditions established 
        under section 215(b) of title II of division K of Public Law 
        110-161, of the contract for such covered assisted multifamily 
        housing project, or in the case of a covered assisted 
        multifamily housing project with an interest reduction payments 
        contract, of the remaining budget authority under the contract, 
        to a receiving project or projects.
    (d) Definitions.--For purposes of this section--
            (1) the term ``covered assisted multifamily housing 
        project'' means housing that--
                    (A) meets one of the conditions established in 
                section 215(c)(2) of title II of division K of Public 
                Law 110-161;
                    (B) was damaged or destroyed by Hurricane Katrina 
                or Hurricane Rita of 2005; and
                    (C) is located in an area in the States of Alabama, 
                Mississippi, and Louisiana that was the subject of a 
                disaster declaration by the President under title IV of 
                the Robert T. Stafford Disaster Relief and Emergency 
                Assistance Act (42 U.S.C. 5121 et seq.) in response to 
                Hurricane Katrina or Hurricane Rita of 2005;
            (2) the term ``designated disaster area'' means any area in 
        the States of Alabama, Mississippi, and Louisiana that was the 
        subject of a disaster declaration by the President under title 
        IV of the Robert T. Stafford Disaster Relief and Emergency 
        Assistance Act (42 U.S.C. 5121 et seq.) in response to 
        Hurricanes Katrina and Rita of 2005;
            (3) the term ``project-based assistance'' has the same 
        meaning as in section 215(c)(3) of title II of division K of 
        Public Law 110-161; and
            (4) the term ``receiving project or projects'' has the same 
        meaning as in section 215(c)(4) of title II of division K of 
        Public Law 110-161.

SEC. 7. HOUSING DISASTER PLAN.

    Not later than 90 days after the date of enactment of this Act, the 
Secretary of Housing and Urban Development shall--
            (1) develop a written disaster response plan for federally 
        assisted properties, including for properties that receive 
        assistance pursuant to--
                    (A) section 202 of the Housing Act of 1959 (12 
                U.S.C. 1701q); and
                    (B) section 811 of the Cranston-Gonzalez National 
                Affordable Housing Act (42 U.S.C. 8013); and
            (2) submit such plan to the Committee on Banking, Housing, 
        and Urban Affairs of the Senate and the Committee on Financial 
        Services of the House of Representatives.