Title 12 — Banks and BankingRelease 119-73
§1701z–9 Expansion of home ownership opportunities in urban areas
Title 12 › Chapter CHAPTER 13— - NATIONAL HOUSING › § 1701z–9
Summary
The Secretary may run pilot projects to test ways to expand homeownership in cities and improve housing by converting apartment buildings into condominiums or cooperatives for individuals and families.
Full Legal Text
Title 12, §1701z–9
Banks and Banking — Source: USLM XML via OLRC
In carrying out activities under section 1701z–1 of this title, the Secretary is authorized to conduct demonstrations to determine the feasibility of expanding homeownership opportunities in urban areas and encouraging the creation and maintenance of decent, safe, and sanitary housing in such areas by utilizing techniques including, but not limited to, the conversion of multifamily housing properties to condominium or cooperative ownership by individuals and families.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Section was enacted as part of the Housing and Urban Development Act of 1970, and not as part of the National Housing Act which comprises this chapter.
Statutory Notes and Related Subsidiaries
Study To Determine Feasibility of Underground
Construction
of Residential Housing Pub. L. 95–557, title III, § 305(c), Oct. 31, 1978, 92 Stat. 2097, required the Secretary to study the feasibility of underground
Construction
of residential housing and necessary changes in housing codes and financing, and report to Congress no later than one year after Oct. 31, 1978 as to the findings and recommendations of legislative enactments as a result of the study.
Reference
Citations & Metadata
Citation
12 U.S.C. § 1701z–9
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73