Housing Authorization Act of 1976

Housing Authorization Act - Increases the authorization of funds for the following programs administered by the Secretary of the Department of Housing and Urban Development (HUD): (1) housing assistance, including public housing; (2) public housing for Indians; (3) newly constructed, substantially rehabilitated, and modernized low-income public housing projects; and (4) public housing operating subsidies.

Grants a ten percent preference in public housing and federally assisted housing to single non-elderly persons (with priority to elderly, handicapped or displaced persons).

Increases mortgage limits, under the National Housing Act for the Home Ownership Assistance Program, to $25,000 ($29,000 in high-cost areas), except that with respect to housing for families of five or more persons, the limits would be $29,000 ($33,000 in high-cost areas).

Raises the income limit for eligibility for (section 235) home ownership assistance from 80 percent of median to 95 percent of median income.

Authorizes the Secretary to make periodic assistance payments for the purchase by those within specified income levels of double module mobile homes and lots therefor.

Extends the program of rental assistance (section 236) through September 30, 1977.

Authorizes Federal Housing Administration (FHA) supplemental loans for hospitals.

Permits either HUD or a co-insuring lender to assume the loss in case of default for multifamily projects where the co-insurer is a public housing agency or insured depository institution. Authorizes loans to mortgages with respect to co-insured projects in default where the co-insurer is a public housing agency.

Increases mortgage limits under FHA's multifamily housing programs by 20 percent and reduces the high-cost area increment from 75 to 50 percent.

Amends the National Housing Act to authorize expenditures by the Secretary of Housing and Urban Development for repair of major structural defects which seriously affect use and livability of any one-, two-, three-, or four-family dwelling which is more than one year old on the date of issuance of the insurance commitment.

Requires a study and report by HUD of the need for and feasibility of an inspection, buyer information and warranty against defect program for all one to four family existing homes purchased with FHA-backed financing.

Increases on October 1, 1977, and on October 1, 1978, the amount authorized to be appropriated for long-term direct loans to nonprofit sponsors for construction of housing for the elderly and the handicapped. Expands the term "elderly or handicapped families" for such purposes.

Amends the Housing Act of 1964 to extend the rehabilitation loan program through fiscal year 1977.

Extends through September 30, 1976, the requirement that specified agencies and HUD encourage forbearance in residential mortgage foreclosures. Sets a purchase price limit of $48,000 on Government National Mortgage Association (GNMA) tandem mortgages.

Authorizes exemptions from specified requirements for loans under the Flood Disaster Protection Act for residential rehabilitation, small businesses, and farms.

Extends provisions of the National Flood Insurance Act relating to emergency implementation of flood insurance through fiscal year 1977.

Authorizes the use of community development block grant funds for the provision of centers for the handicapped.

Makes new community projects carried out under Title X of the National Housing Act eligible for discretionary fund assistance of the community development block grant program if such projects meet the same eligibility criteria as new community projects being carried out under Title VII of the Housing Act of 1970.

Authorizes appropriations for fiscal year 1977 for comprehensive planning under the Housing Act.

Requires that the President of GNMA be appointed by the President and confirmed by the Senate.

Specifies the responsibilities of the Special Assistant for Cooperative Housing within HUD.

Extends the new community planning assistance program until October 1, 1977.

Increases the authorizations for urban homesteading through fiscal year 1978.

Authorizes HUD to operate a day-care facility for employees' children.

Allows Federal savings and loan associations to invest up to one percent of assets in the Inter-American Savings and Loan Bank without requiring that such investments be guaranteed.

Authorizes appropriations for HUD research through fiscal year 1977, and for the National Institute of Building Sciences through fiscal year 1978.

Makes the determination of the Treasury going interest rate (as the basis for the Farmers' Home Administration (FmHA) rate) upon request of the Secretary of Agriculture rather than annually. Permits FmHA to continue processing loan applications and other actions received before an area is redesignated from rural to non-rural.

Requires programs of studies and demonstrations within at least three standard metropolitan statistical areas to determine the extent of need for and cost effectiveness of providing pre-purchase, default and delinquency counseling and related services to owners and purchasers of single-family dwellings insured or to be insured under the unsubsidized mortgage insurance programs of the National Housing Act.