226 1 amounts of moneys in such escrow accounts for the 2 3 payment of taxes, the payment of insurance, and the payment of other items; 4 5 6 7 8 9 10 11 12 13 14 15 16 17 (5) an estimate of the extent to which foreclosures have occurred on mortgaged residential property as a result of the failure to establish escrow accounts for the payment of taxes and insurance by the owners of such property; (6) the value to State and local tax collection agencies of services performed by financial institutions in having borrowers make periodic prepayment of taxes with respect to residential real property; and (7) the extent to which financial institutions make periodic charges to borrowers with respect to residential real property for the search of tax records on such prop erty, and the justification, if any, for such charges. TITLE X-MISCELLANEOUS PROVISIONS. 18 BROADENING OF HOUSING GOALS, DEVELOPMENT OF STATE 21 SEC. 1001. (a) (1) Section 1601 of the Housing and 22 Urban Development Act of 1968 is amended by inserting 23 "(a)" after "SEC. 1601.", and by adding at the end there24 of the following new subsections: 1 227 "(b) The Congress further finds that the achievement 2 of the national housing goal will require a more efficient 3 use of the Nation's existing housing stock through such measures as preservation, rehabilitation, and improvements 5 in management and maintenance policies, in order that losses 6 to the housing stock may be minimized and the current level 7 of housing services improved. 8 "(c) In order to facilitate the achievement of the na9 tional housing goal and provide a more precise basis for 10 determining national housing requirements, the Secretary of 11 Housing and Urban Development shall encourage (through 12 the provision of planning assistance and otherwise) the for13 mulation of State and local housing goals covering major 14 housing market areas. Such State and local housing goals 15 shall be developed and formulated so as to include both the 16 housing production requirements of the areas involved and 17 the actions needed to preserve the existing housing stock 18 in such areas, including— "(1) the numbers and types of subsidized housing units which are needed to serve various income groups, "(2) the Federal, State, and local programs which might or should be utilized to meet the goals established, "(3) the identification of impediments to meeting these goals, such as unrealistic or obsolete building codes 1 2 3 4 5 6 7 8 9 10 11 12 228 and zoning regulations, and any recommendations or proposals for eliminating such impediments, “(4) plans for the general location of low- and moderate-income housing so as to provide the residents thereof with greater access to employment opportunities and with adequate community services and facilities such as public transportation, schools, commercial facilities, recreation, and social services, and "(5) plans for the promotion of market aggrega tion in order to achieve the benefits of economies of scale.". (2) The heading of section 1601 of such Act is amended 16 STATE AND LOCAL GOALS". (b) Section 1603 of such Act is amended by redesignat 17 ing paragraphs (5) and (6) as paragraphs (8) and (9), 18 respectively, and by inserting after paragraph (4) the fol 19 lowing new paragraphs: 20 2 2 2 2 2 21 22 23 "(5) include a contingency plan for the provision of required mortgage credit, setting forth proposed gov ernmental actions to be carried out in the event of ad verse mortgage credit conditions; 1 2 3 4 5 6 7 8 9 10 229 "(6) provide an analysis of changes affecting hous ing costs borne by occupants, together with recommended actions to reduce the cost of any inflationary elements; “(7) provide an analysis of annual changes in the number and conditions of units in the national housing inventory;". EXPANSION OF EXPERIMENTAL HOUSING ALLOWANCE PROGRAM SEC. 1002. (a) Section 504 of the Housing and Urban 11 Development Act of 1970 is amended by striking out sub12 section (b) and inserting in lieu thereof the following new 13 subsection: 14 "(b) The program undertaken pursuant to this section 15 shall include the development and utilization of different 16 types of housing allowances, and different techniques for 17 providing such allowances to families of low income, in order 18 that a wide variety of potentially effective types of and tech19 niques for providing housing allowances may be tested and 20 evaluated. Particular attention shall be given to the impact of 21 such allowances on rent levels for housing units of compara22 ble size throughout the housing market and the extent to 23 which any increased rent levels reflect improved housing 24 services," 230 (b) Section 504 (d) of such Act is amended by striking 2 out "not to exceed $10,000,000 in each of the fiscal years 3 1972 and 1973" and inserting in lieu thereof "not to exceed 4 $75,000,000 prior to July 1, 1976". 5 (c) Section 504 (d) of such Act is further amended 6 by inserting "(1)" after "(d)", and by adding at the end 7 thereof the following new paragraph: 8 "(2) The Secretary is authorized to utilize such por 9 tion of the authorization available for the leasing of existing 10 structures under the United States Housing Act of 1937 11 as he deems appropriate to carry out the purposes of this 12 section. The use of such funds shall be subject to the pro13 visions of this title, and the Secretary may waive the appli14 cability of any of the provisions of the United States Housing 15 Act of 1937 (except the requirement of local governing 16 body approval) with respect to the use of such funds. Hous17 ing allowance payments made with funds provided pursuant 18 to this paragraph shall not be counted toward the satisfac19 tion of requirements contained in the United States Housing 20 Act of 1937 with respect to the minimum amount of assistance to be provided for the leasing of housing in private 22 accommodations." 21 22 * 23 24 (d) Section 504 (e) of such Act is amended by striking out "1972 and 1973" and inserting in lieu thereof "1972, 25 1973, and 1974", 79-555 O 72 16 |