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HR 3208 101th Congress House Housing and Community Development Apartment houses Federal aid to housing Home ownership Residential rehabilitation Revolving funds

Recycling of Existing Assets for Cost-Effective Housing Act of 1989

Introduced: August 4, 1989 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 1, 1989
Referred to the Subcommittee on Housing and Community Development.
Aug 4, 1989
Referred to the House Committee on Banking, Finance + Urban Affrs.
Aug 4, 1989
Introduced in House
 Plain-English summary Congressional Research Service

Recycling of Existing Assets for Cost-Effective Housing Act of 1989 - Authorizes the Secretary of Housing and Urban Development to make grants to establish State revolving funds for: (1) homebuyer loans (priority for first-time or lower-income homebuyers); and (2) multifamily dwelling grants and loans.

Requires State matching funds. Prohibits property conveyance for five years.

Sets forth property eligibility requirements. Directs the Secretary to make a State listing of such properties available upon request.

Requires at least annual program reports by: (1) State housing finance agencies to the Secretary; and (2) the Secretary to the Congress.

Requires the General Accounting Office to audit the program at least annually.

Authorizes FY 1990 and 1991 appropriations.

What's happening now September 1, 1989

Referred to the Subcommittee on Housing and Community Development.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 2