Multifamily Housing Property Disposition Reform Act of 1994
Laid on the table. See S. 1299 for further action.
Congressional Research Service
Official summary
Version 00 · Introduced in House · Mar 17, 1994
TABLE OF CONTENTS: Title I: Multifamily Property Disposition Reform Title II: Other Program Reforms Subtitle A: HOME Investment Partnerships Program Subtitle B: HOPE Homeownership Program Subtitle C: Community Development Block Grants Title III: Technical Amendments Multifamily Property Disposition Reform Act of 1994 - Title I: Multifamily Property Disposition Reform - Amends the Housing and Community Development Amendments of 1978 to revise provisions regarding the management and disposition of Department of Housing and Urban Development (HUD)-held multifamily properties and mortgages. (Sec. 102) Authorizes the use of emergency assistance funds for residents in multifamily housing disposition projects. (Sec. 103) Repeals the State agency multifamily property disposition demonstration. (Sec. 104) Sets forth multifamily mortgage assessment procedures. Revises multifamily housing funding provisions. Requires General Accounting Office studies concerning: (1) General Insurance Fund and Special Risk Insurance Fund loan reserves; and (2) actuarial soundness of the nursing home, hospital, and retirement service center insurance programs. (Sec. 106) Amends the National Housing Act to authorize appropriations for such Funds. Title II: Other Program Reforms - Subtitle A: Home Investment Partnerships Program - Amends the Cranston-Gonzalez National Affordable Housing Act to make State agencies eligible to participate in the HOME investment partnerships program (program). (Sec. 204) Eliminates from the program the first-time homebuyer requirement. (Sec. 206) Eliminates from the program the separate (Comptroller General) audit requirement. (Sec. 208) Amends the Housing and Community Development Act of 1974 to permit the use of community development block grant (CDBG) funds for program expenses. (Sec. 209) Suspends program requirements (with exceptions) for certified disaster area use. Subtitle B: HOPE Homeownership Program - Reduces the HOPE single-family ownership program recipient matching requirement. Subtitle C: Community Development Block Grants - Amends the Housing and Community Development Act of 1974 to authorize the guarantee of section 108 loan-backed obligations. (Sec. 233) Suspends CDBG requirements (with exceptions) for certified disaster area use. Title III: Technical Amendments - Revises environmental review provisions for the lead-based paint hazard reduction program under the Housing and Community Development Act of 1992 and for assisted housing programs under title I of the United States Housing Act of 1937. (Sec. 306) Extends contract authority for certain leased housing contracts under the United States Housing Act of 1937. (Sec. 307) Amends the National Housing Act to revise specified multifamily mortgage limits. (Sec. 308) Amends the Housing and Community Development Act of 1992 to revise the: (1) multifamily housing risk sharing program; and (2) housing finance agency pilot program. Reauthorizes the Secretary of Housing and Urban Development's authority to enter into mortgage commitments under the risk sharing program. (Sec. 309) Authorizes subsidy layering review by a housing credit agency certification of appropriate assistance limits.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays (2/3 required): 413 - 9 (Roll No. 81).
Considered as unfinished business. (consideration: CR H1824-1825)
At the conclusion of debate, the chair put the question on the motion to suspend the rules. Mr. Gonzalez objected to the vote on the grounds that a quorum was not present. Further proceedings on the motion were postponed. The point of no quorum was withdrawn.
DEBATE - The House resumed debate.
DEBATE - The House proceeded with forty minutes of debate.
Considered under suspension of the rules. (consideration: CR H1579-1592)
Mr. Gonzalez moved to suspend the rules and pass the bill, as amended.
Referred to the House Committee on Banking, Finance + Urban Affrs.
Introduced in House
Introduced in House
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Source last updated: Feb 6, 2024. Consult Congress.gov for the current record.
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