H.R.1276 - American Dream Downpayment Act108th Congress (2003-2004)
Summary: H.R.1276 — 108th Congress (2003-2004)
Passed House amended (10/01/2003)
(This measure has not been amended since it was reported to the House on June 19, 2003. The summary of that version is repeated here.)
American Dream Downpayment Act - Amends the Cranston-Gonzalez National Affordable Housing Act to authorize the Secretary of Housing and Urban Development to make grants to participating jurisdictions for single family residential downpayment assistance to: (1) low-income or first-time home buyers; or (2) income-qualifying uniformed employees (police, fire, sanitation and maintenance) or teachers of a participating jurisdiction.
Requires a participating jurisdiction to include in its comprehensive housing affordability strategy information regarding: (1) grant use; (2) outreach activities; and (3) activities to ensure the suitability of recipient families to maintain homeownership.
Sets forth allocation criteria. Permits fund reallocation.
Authorizes specified FY 2004 and 2005 appropriations.
Makes the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 inapplicable to such assistance.