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[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 202 Introduced in House (IH)]

106th CONGRESS
  1st Session
                                H. R. 202

 To restructure the financing for assisted housing for senior citizens 
and otherwise provide for the preservation of such housing in the 21st 
                    Century, and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                            January 6, 1999

 Mr. Lazio (for himself, Mr. Leach, and Mr. Frelinghuysen) introduced 
the following bill; which was referred to the Committee on Banking and 
                           Financial Services

_______________________________________________________________________

                                 A BILL

 
 To restructure the financing for assisted housing for senior citizens 
and otherwise provide for the preservation of such housing in the 21st 
                    Century, and for other purposes.

    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 ``Preserving Affordable Housing for 
Senior Citizens into the 21st Century Act''.

                    TITLE I--CONVERSION OF FINANCING

SEC. 101. CONVERSION.

    Subject to the provisions of this title and the agreement of the 
owner of a project assisted under section 202 of the Housing Act of 
1959 (as in effect before the enactment of the Cranston-Gonzalez 
National Affordable Housing Act) and section 8 of the United States 
Housing Act of 1937, the Secretary may convert the financing of any 
such housing project to financing under section 202 of the Housing Act 
of 1959, as amended by section 801 of the Cranston-Gonzalez National 
Affordable Housing Act (12 U.S.C. 1701q).

SEC. 102. DEBT FORGIVENESS.

    (a) In General.--Subject to subsection (b), in converting the 
financing of any housing project pursuant to this title, the Secretary 
may cancel any indebtedness to the Secretary relating to any remaining 
principal and interest under any loan for the project made under 
section 202 of the Housing Act of 1959 (as in effect before the 
enactment of the Cranston-Gonzalez National Affordable Housing Act).
    (b) Budget Act Compliance.--The authority of the Secretary to 
cancel indebtedness under subsection (a) shall be effective only to the 
extent or in such amounts as are or have been provided in advance in 
appropriation Acts.

SEC. 103. CANCELLATION OF SECTION 8 CONTRACTS AND USE OF PROJECT FUNDS.

    (a) In General.--In converting the financing of any housing project 
pursuant to this title, the Secretary may cancel any contract for 
rental assistance for the project under section 8 of the United States 
Housing Act of 1937.
    (b) Use of Unexpended Amounts.--Amounts previously obligated for 
such contract that remain unexpended shall be used, to the extent the 
Secretary considers appropriate, in accordance with subsection (d) to 
improve the market viability, affordability, or service to low-income 
elderly residents of the project. Any such unexpended amounts in excess 
of the amount used in accordance with subsection (d) shall be 
recaptured by the Secretary.
    (c) Use of Project Funds.--In converting the financing of any 
housing project pursuant to this title, the Secretary may authorize the 
owner of the project to use any residual receipts held for the project 
that exceed $500 per unit (or such other amount as the Secretary may 
prescribe based on the needs of the project) in accordance with 
subsection (d) to improve the market viability, affordability, or 
service to low-income elderly residents of the project.
    (d) Eligible Activities.--Amounts are used in accordance with this 
subsection only if they are used--
            (1) to provide rental assistance for the project, under a 
        contract for project rental assistance under section 202(c)(2) 
        of the Housing Act of 1959, which has a duration that is not 
        less than the remainder of the section 8 contract canceled; or
            (2) to retrofit or renovate the project or provide a 
        service coordinator for residents of the project, to the same 
        extent that such activities are authorized to be provided under 
        section 802 of the Cranston-Gonzalez National Affordable 
        Housing Act to housing assisted under such section.

SEC. 104. THIRD PARTY PROCESSING.

    The Secretary may enter into contracts with public or private 
entities as the Secretary considers appropriate to facilitate efficient 
processing of elderly housing project conversions under this title.

SEC. 105. WAIVER AUTHORITY.

    The Secretary may waive the applicability of any provision of law 
or regulation necessary to carry out this title.

               TITLE II--AUTHORIZATION OF APPROPRIATIONS

SEC. 201. SUPPORTIVE HOUSING FOR ELDERLY PERSONS.

    Section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) is amended 
by adding at the end the following new subsection:
    ``(m) Authorization of Appropriations.--There is authorized to be 
appropriated for providing assistance under this section $700,000,000 
for fiscal year 2000 and such sums as may be necessary for each of 
fiscal years 2001 and 2002.''.

SEC. 202. SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES.

    Section 811 of the Cranston-Gonzalez National Affordable Housing 
Act (42 U.S.C. 8013) is amended--
            (1) by redesignating subsection (m) as subsection (n); and
            (2) by inserting after subsection (l) the following new 
        subsection:
    ``(m) Authorization of Appropriations.--There is authorized to be 
appropriated for providing assistance under this section $225,000,000 
for fiscal year 2000 and such sums as may be necessary for each of 
fiscal years 2001 and 2002.''.

                     TITLE III--PROGRAM AMENDMENTS

SEC. 301. AUTHORITY TO ACQUIRE STRUCTURES.

    Section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) is 
amended--
            (1) in subsection (b), by striking ``from the Resolution 
        Trust Corporation''; and
            (2) in subsection (h)(2)--
                    (A) in the heading for subparagraph (A), by 
                striking ``RTC properties'' and inserting 
                ``Acquisition''; and
                    (B) by striking ``from the Resolution'' and all 
                that follows through ``Insurance Act''.

SEC. 302. MIXED FUNDING SOURCES.

    (a) Housing for Elderly Persons.--Section 202(h)(6) of the Housing 
Act of 1959 (12 U.S.C. 1701q(h)(6)) is amended by striking ``non-
Federal sources'' and inserting ``sources other than this section''.
    (b) Housing for Persons With Disabilities.--Section 811(h)(5) of 
the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 
8013(h)(5)) is amended by striking ``non-Federal sources'' and 
inserting ``sources other than this section''.

SEC. 303. MIXED-INCOME OCCUPANCY.

    (a) In General.--The first sentence of section 202(i)(1) of the 
Housing Act of 1959 (12 U.S.C. 1701q(i)(1)) is amended by striking 
``and (B)'' and inserting the following: ``(B) notwithstanding clause 
(A) and in the case only of supportive housing for the elderly for 
which construction is commenced before the date of the enactment of the 
Preserving Affordable Housing for Senior Citizens into the 21st Century 
Act and which has a high vacancy level (as such term is defined by the 
Secretary), consistent with the purpose of improving housing 
opportunities for very low- and low-income elderly persons; and (C).''.
    (b) Conforming Amendments.--Section 202 of the Housing Act of 1959 
(12 U.S.C. 1701q) is amended--
            (1) in subsection (c)--
                    (A) in paragraph (1), by inserting after ``elderly 
                persons'' the following: ``, and for low-income elderly 
                persons to the extent such occupancy is made available 
                pursuant to subsection (i)(1)(B),'';
                    (B) in the first sentence of paragraph (2), by 
                inserting after ``elderly persons'' the following: ``or 
                by low-income elderly persons (to the extent such 
                occupancy is made available pursuant to subsection 
                (i)(1)(B))''; and
                    (C) in paragraph (3), by inserting after ``very 
                low-income person'' the following: ``or a low-income 
                person (to the extent such occupancy is made available 
                pursuant to subsection (i)(1)(B))'';
            (2) in subsection (d)(1), by inserting after ``elderly 
        persons'' the following: ``, and low-income elderly persons to 
        the extent such occupancy is made available pursuant to 
        subsection (i)(1)(B),''; and
            (3) in subsection (k)--
                    (A) by redesignating paragraphs (3) through (8) as 
                paragraphs (4) through (9), respectively; and
                    (B) by inserting after paragraph (2) the following 
                new paragraphs:
            ``(3) Low-income.--The term `low-income' has the same 
        meaning given the term `low-income families' under section 
        3(b)(2) of the United States Housing Act of 1937 (42 U.S.C. 
        1437a(b)(2)).
                                 <all>
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