Preserving Affordable Housing for Senior Citizens and Families into the 21st Century Act

Preserving Affordable Housing for Senior Citizens and Families into the 21st Century Act - Title I: Conversion of Financing and Refinancing for Section 202 Supportive Housing for the Elderly - Directs the Secretary of Housing and Urban Development, upon request of the owner of a project assisted under section 202 (supportive services for the elderly) of the Housing Act of 1959 (as in effect prior to enactment of the Cranston-Gonzalez National Affordable Housing Act) and section 8 of the United States Housing Act of 1937, or any other Department of Housing and Urban Development (HUD) rental assistance program, to convert: (1) any such housing project financing to section 202 financing as amended by the Cranston-Gonzalez National Affordable Housing Act; and (2) section 8 and other rental assistance to section 202 capital advances and project rental assistance. Provides for: (1) project debt cancellation; (2) tenant protections; and (3) analysis of such cancellation's budgetary effect.(Sec. 102) Directs the Secretary: (1) to approve prepayment of indebtedness, including refinancing under specified conditions, provided the project sponsor continues to operate the project on terms at least as advantageous to tenants as required under the original agreement; and (2) upon refinancing, to use at least 50 percent of the resultant savings in a manner that is advantageous to the tenants.Title II: Authorization of Appropriations for Supportive Housing for the Elderly and Persons With Disabilities - Amends the Housing Act of 1959 to authorize FY 2000 through 2004 appropriations for supportive housing for the elderly.(Sec. 202) Amends the Cranston-Gonzalez National Affordable Housing Act to authorize FY 2000 through 2004 appropriations for supportive housing for persons with disabilities.(Sec. 203) Authorizes FY 2000 through 2002 appropriations for: (1) grants for service coordinators for elderly and disabled residents of certain federally assisted multifamily housing; and (2) contracts for congregate services for certain federally assisted housing.Authorizes FY 2000 appropriations for grant renewal and new grants for service coordinators and congregate services for the elderly and disabled in public housing.Title III: Expanding Public Housing Opportunities for the Elderly and Persons with Disabilities - Subtitle A: Housing for the Elderly - Amends the Housing Act of 1959, with respect to supportive services for the elderly, to establish a matching capital grant program. Requires project sponsors to provide between 25 and 50 percent of assistance, of which at least 50 percent shall be from non-Federal sources, including in-kind contributions. Provides for certain numbers of tenants who are elderly but not very low-income persons.(Sec. 302) Makes for-profit limited partnerships eligible program participants.(Sec. 303) Permits owners to use mixed funding sources for amenities and other design features.(Sec. 304) Expands acquisition authority.(Sec. 305) Authorizes low-income eligibility in supportive housing projects with high vacancy rates.(Sec. 306) Authorizes project reserves to be used to reduce the number of dwelling units by retrofitting unmarketable units.(Sec. 307) States that no provision of law shall be construed to prohibit commercial operations in a project location that benefits project residents.(Sec. 308) Directs the Secretary to carry out a pilot program for up to five projects to determine the effectiveness and feasibility of providing section 202 assistance for housing projects that are both for supportive services for the elderly and for other types of housing, including market rate housing. Requires mixed use as part of program eligibility.(Sec. 309) Amends the Housing Act of 1959 to authorize the Secretary to make grants for capital repairs of elderly housing projects or their conversion to assisted living facilities. Sets forth project eligibility and selection criteria, including inclusion of up to three unused or underused commercial properties. Authorizes FY 2000 through 2004 appropriations.(Sec. 310) Amends the United States Housing Act of 1937 to authorize the Secretary to make grants to public housing agencies for conversion of public housing for the elderly to assisted living facilities. Sets forth application and selection criteria. Authorizes FY 2000 through 2004 appropriations.(Sec. 311) Amends the Unites States Housing Act of 1937 to authorize a recipient of section 8 housing assistance to use such assistance in an assisted living facility. Limits use to rental costs.Amends the Housing Act of 1959 to make multifamily projects that have converted elderly housing units to assisted living facilities eligible for section 8 project based assistance in the same manner as if they had not made such conversions. Sets forth rent calculation provisions.(Sec. 312) Directs the Secretary to make an annual inventory of HUD and federally- assisted housing designated for elderly and disabled families.(Sec. 313) Directs the Secretary, in the case of denial of section 202 assistance for failure to provide timely information, to notify and provide opportunity for the applicant to show third party fault. (Sunsets this provision 12 months after enactment of this Act.)Subtitle B: Housing for Persons with Disabilities - Amends the Cranston-Gonzalez National Affordable Housing Act with respect to supportive housing for persons with disabilities to include among assistance forms a capital advance matching grants program. Require applicants to provide between 25 and 50 percent of assistance, of which at least 50 percent shall be from non-Federal sources, including in-kind contributions. Provides for certain numbers of tenants who are disabled but not very low-income persons.(Sec. 322) Amends the Housing Act of 1959 to make certain for-profit limited partnerships eligible recipients under the supportive housing for persons with disabilities program.(Sec. 323) Amends the Cranston-Gonzalez National Affordable Housing Act with respect to the supportive housing for persons with disabilities program to permit owners to use mixed funding sources for amenities and other design features.(Sec. 324) Provides that tenant-based assistance may be provided through a qualifying public housing agency or a private nonprofit organization. Limits tenant-based assistance to 25 percent of fiscal year program assistance.(Sec. 325) Provides that not more than 25 percent of fiscal year project rental assistance or capital advances may go to projects with 24 or more units.Directs the Secretary to conduct a study with respect to: (1) prior assistance provided to such projects; and (2) per-unit costs and benefits of specified project sizes assisted under the supportive housing for persons with disabilities program and the section 202 program.(Sec. 326) Authorizes project reserves to be used to reduce the number of dwelling units by retrofitting unmarketable units.(Sec. 327) States that no provision of law shall be construed to prohibit commercial operations in a project location that benefits project residents.Subtitle C: Other Provisions - Amends the Housing and Community Development Act of 1992 to permit service coordinator services to be provided to low-income or elderly persons living in the vicinity of specified federally assisted housing.Includes telemarketing fraud protection among the services provided to elderly residents of federally assisted housing and under the supportive housing program. Directs the Secretary, in coordination with the Secretary of Health and Human Services, to establish related service coordinator guidelines.(Sec. 342) Establishes the Commission on Affordable Housing and Health Care Facility Needs in the 21st Century. Directs the Commission to conduct a study of senior citizens' future affordable housing, assisted living, and health facility needs, and public and private sector capacities to meet such needs. Obligates FY 2000 funding under the Housing and Urban Development Act of 1970 for the Commission. Terminates the Commission as of June 30, 2002.Title IV: Renewal of Expiring Rental Assistance Contracts and Protection of Residents - Amends the Multifamily Assisted Housing Reform and Affordability Act of 1997, with respect to expiring project-based section 8 contracts, to base renewal rates upon comparable market rates. Provides for exception renewal rates based on the lower of adjusted existing rents or budget-based rents for certain projects exempt from mortgage restructuring.Provides enhanced section 8 vouchers for residents of covered projects with expiring contracts. Authorizes FY 2000 through 2004 appropriations.Provides for continuation of expiring section 8 contract benefits to owners under specified conditions.Prohibits State or local limits on allowable project renewal distributions to owners.(Sec. 403) Amends the National Housing Act with respect to the rental and cooperative housing program to authorize: (1) interest reduction payments for project mortgage refinancing; and (2) project owners to retain excess income. Revises basic and market rent provisions.(Sec. 404) Amends the Housing and Community Development Act of 1987 to direct the Secretary to make matching grants to States and local governments for low-income housing preservation. States that grants may be used for acquisition, preservation incentives, operating costs, and capital expenditures for a housing project that: (1) is at risk of loss as affordable housing; (2) is primarily for elderly or disabled families; (3) contains one or more units occupied by large families; (4) is located in a rural area with an inadequate housing supply; or (5) is located in a smaller than market area where rental assistance vouchers would be difficult to use. Requires participating projects to: (1) have federally assisted mortgages; (2) be subject to section 8 project-based assistance; or (3) be eligible low-income housing purchased by a resident council. Gives grant priority to new State or local recipients and to nonprofit organization transferees. Authorizes FY 2000 through 2002 appropriations.(Sec. 405) Amends the National Housing Act to permit multifamily project rehabilitation loans to be made from recaptured interest rate reduction payments. Makes certain noninsured projects eligible for interest rate reduction capital grants.(Sec. 406) Amends the Multifamily Assisted Housing Reform and Affordability Act of 1997 to permit technical assistance for preservation of low-income housing.(Sec. 407) Amends the United States Housing Act of 1937 to make section 8 renewals available for up to one year or any number of years, subject to appropriations.(Sec. 408) Amends the Housing and Community Developments Amendments of 1978 to make residents of any project receiving flexible subsidy program assistance eligible for enhanced voucher assistance.(Sec. 409) Amends the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997 to extend grant and loan authority for management and disposition of multifamily properties and mortgages through FY 2000. Includes property construction among eligible activities.(Sec. 410) Authorizes the Secretary to make grants to eligible nonprofit entities to purchase and preserve affordable housing for low-income or very low-income families, including elderly persons. Authorizes FY 2000 through 2002 appropriations.Title V: Mortgage Insurance for Health Care Facilities and Home Equity Conversion Mortgages - Amends the National Housing Act to authorize mortgage insurance for debt refinancing of existing health care facilities. Permits hospital, home, or facility refinancing to prepay a loan that is within five years of maturity. Permits use of refinancing proceeds for related maintenance and equipment.(Sec. 502) Includes within the definition of "assisted living facility" certain unlicenced facilities. Defines "health care facility."(Sec. 503) Revises hospital mortgage insurance provisions to: (1) eliminate from the definition of "hospital" the requirement that not more than 50 percent of patient days be for specified non-acute conditions; (2) include within the definition of "mortgage" parity first mortgages or deeds of trust; (3) permit, under specified circumstances, an independent need and licensing certification study; and (4) provide for expedited mortgage insurance of public health care facilities.(Sec. 504) Authorizes the Secretary to insure refinancing of home equity conversion mortgages. Provides for: (1) specified transaction disclosures; (2) waiver of counseling under specified conditions; (3) fee limitations; (4) single premium reduction; and (5) an actuarial study to determine insurance premium adequacy.Directs the Secretary to conduct an actuarial study of a single national mortgage limit.