Jesse Gray Housing Act

Jesse Gray Housing Act - Amends the United States Housing Act of 1937 to direct the Secretary of Housing and Urban Development to carry out a program to construct new public housing units. Authorizes appropriations.

Requires the Secretary to make financial assistance available for public housing projects, especially those likely to be disposed of or demolished.

Prohibits the Secretary from approving a project demolition application.

Reduces lower-income rent contribution and related amounts under: (1) the United States Housing Act of 1937; (2) the Cranston-Gonzalez National Affordable Housing Act; (3) the Housing Act of 1959; (4) the Housing and Urban Development Act of 1965; (5) the National Housing Act; (6) the Housing and Community Development Amendments of 1978; (7) the Housing and Urban-Rural Recovery Act of 1983; (8) the Low-Income Housing Preservation and Resident Homeownership Act of 1990; (9) the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997, (10) the Native American Housing Assistance and Self-Determination Act of 1996; (11) the Housing and Community Development Act of 1992; (12) the Housing Act of 1949; (13) the Federal Home Loan Bank Act; (14) the Federal Deposit Insurance Act; (15) the Housing and Community Development Act of 1974; and (16) the Housing and Community Development Act of 1992. Excludes welfare or social security cost-of-living adjustments from such adjusted income determinations.

Directs the Secretary to prepare a Federal housing assistance report.