
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC12721]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                CHAPTER 130--NATIONAL AFFORDABLE HOUSING
 
             SUBCHAPTER II--INVESTMENT IN AFFORDABLE HOUSING
 
Sec. 12721. Findings

    The Congress finds that--
        (1) the Nation has not made adequate progress toward the goal of 
    national housing policy, as set out in the Housing Act of 1949 [42 
    U.S.C. 1441 et seq.] and reaffirmed in the Housing and Urban 
    Development Act of 1968, which would provide decent, safe, sanitary, 
    and affordable living environments for all Americans;
        (2) the supply of affordable rental housing is diminishing;
        (3) the Tax Reform Act of 1986 removed major tax incentives for 
    the production of affordable rental housing;
        (4) the living environments of an increasing number of Americans 
    have deteriorated over the past several years as a result of 
    reductions in Federal assistance to low-income and moderate-income 
    families;
        (5) many Americans face the possibility of homelessness unless 
    Federal, State, and local governments work together with the private 
    sector to develop and rehabilitate the housing stock of the Nation 
    to provide decent, safe, sanitary, and affordable housing for very 
    low-income and low-income families;
        (6) reliable Federal leadership is needed to achieve an adequate 
    supply of affordable housing for all Americans;
        (7) to achieve the goal of national housing policy, there is a 
    need to strengthen nationwide a cost-effective community-based 
    housing partnership designed to--
            (A) expand the supply of rental housing that is affordable 
        to very low-income and low-income families,
            (B) improve homeownership opportunities for low-income 
        families,
            (C) carry out comprehensive housing strategies tailored to 
        local housing market conditions, and
            (D) protect the Federal, State, and local investment in low-
        income housing to ensure affordability of the housing for the 
        remaining useful life of the property;

        (8) direct assistance to expand the supply of affordable rental 
    housing should be provided in a way that is more cost-effective and 
    targeted than tax incentives;
        (9) much of the Nation's housing system works very well and 
    provides a strong base on which national housing policy should 
    build;
        (10) an increasing number of States and local governments have 
    been successful in producing cost-effective low-income and moderate-
    income housing by working in partnership with the private sector, 
    including nonprofit community development corporations, community 
    action agencies, neighborhood housing services corporations, trade 
    unions, groups sponsored by religious organizations, limited equity 
    cooperatives, and other tenant organizations;
        (11) during the 1980's, nonprofit community housing development 
    organizations, despite severe obstacles caused by inadequate 
    funding, have played an increasingly important role in the 
    production and rehabilitation of affordable housing in communities 
    across the Nation;
        (12) additional financial resources and technical skills must be 
    made available in local communities if the Nation is to mobilize the 
    capacity of the private sector, including nonprofit community 
    housing development organizations, to provide a more adequate supply 
    of decent, safe, and sanitary housing that is affordable to very 
    low-income, low-income, and moderate-income families and meets the 
    need for large family units and other additional units that are 
    available to very low-income families receiving rental assistance 
    payments from Federal, State, and local governments; and
        (13) the long-term success of efforts to provide more affordable 
    housing depends upon tenants and homeowners being fiscally 
    responsible and able managers.

(Pub. L. 101-625, title II, Sec. 202, Nov. 28, 1990, 104 Stat. 4094.)

                       References in Text

    The Housing Act of 1949, referred to in par. (1), is act July 15, 
1949, ch. 338, 63 Stat. 413, as amended, which is classified principally 
to chapter 8A (Sec. 1441 et seq.) of this title. For complete 
classification of this Act to the Code, see Short Title note set out 
under section 1441 of this title and Tables.
    The Housing and Urban Development Act of 1968, referred to in par. 
(1), is Pub. L. 90-448, Aug. 1, 1968, 82 Stat. 476, as amended. For 
complete classification of this Act to the Code, see Short Title of 1968 
Amendments note set out under section 1701 of Title 12, Banks and 
Banking, and Tables.
    The Tax Reform Act of 1986, referred to in par. (3), is Pub. L. 99-
514, Oct. 22, 1986, 100 Stat. 2085, as amended. For complete 
classification of this Act to the Code, see Short Title of 1986 
Amendments note set out under section 1 of Title 26, Internal Revenue 
Code, and Tables.


                               Short Title

    For short title of this subchapter as the ``HOME Investment 
Partnerships Act'', see Short Title note set out under section 12701 of 
this title.
