Title 42, The Public Health and WelfareRelease 119-110

§12853 National Homeownership Trust Fund

Title 42 › CHAPTER 130 — NATIONAL AFFORDABLE HOUSING › SUBCHAPTER III — NATIONAL HOMEOWNERSHIP TRUST DEMONSTRATION › § 12853

Last updated Sep 22, 2026|Official source

Summary

Creates a revolving National Homeownership Trust Fund in the U.S. Treasury. The fund gets money from three places: amounts Congress puts in under section 12857, repayments the Trust receives, and money handled under the fund’s investment rules. The Trust can use the money to run the program only as much as Congress approves. Any extra money the Trust does not need now must be invested in U.S. government or U.S. agency bonds that guarantee repayment. In fiscal year 1991, up to $20,000,000 of the amounts Congress provided for the fund must be used for demonstration projects that combine housing and economic development. That money is limited to $4,200,000 for two vacant buildings in a blighted minority neighborhood in Milwaukee; $10,000,000 for neighborhood nonprofits in Washington, D.C., to buy and fix vacant housing for low- and moderate-income families and do local economic work; $1,000,000 for technical help to a citywide public/private community development partnership in Philadelphia; and other areas as the Secretary decides.

Full Legal Text

Title 42, §12853

The Public Health and Welfare, Source: USLM XML via OLRC

(a)Establishment

There is established in the Treasury of the United States a revolving fund, to be known as the National Homeownership Trust Fund.

(b)Assets

The Fund shall consist of— (1)

(2)any amount received by the Trust as repayment for payments made under this subchapter; and

(3)any amount received by the Trust under subsection (d).

(c)Use of amounts

The Fund shall, to the extent approved in appropriations Acts, be available to the Trust for purposes of carrying out this subchapter.

(d)Investment of excess amounts

Any amounts in the Fund determined by the Trust to be in excess of the amounts currently required to carry out the provisions of this subchapter shall be invested by the Trust in obligations of, or obligations guaranteed as to both principal and interest by, the United States or any agency of the United States.

(e)Demonstration programs

Using not more than $20,000,000 of any amounts appropriated for the Fund under section 12857 of this title in fiscal year 1991, the Secretary shall carry out demonstration programs for combining housing activities and economic development activities, as follows:

(1)In Milwaukee, Wisconsin, in an amount not to exceed $4,200,000, for development, rehabilitation, and revitalization of 2 vacant structures in a blighted minority neighborhood.

(2)In Washington, District of Columbia, in an amount not to exceed $10,000,000, for nonprofit neighborhood-based groups to acquire and rehabilitate vacant public and private housing for resale or rent to low- and moderate-income families and to the extent of and subject to engage in neighborhood-based economic development activities.

(3)In Philadelphia, Pennsylvania, in an amount not to exceed $1,000,000, for technical assistance and organizational support for a community development corporation that is a city-wide public/private partnership engaged in the provision of technical assistance to neighborhood community development corporations.

(4)In other areas, as the Secretary may determine.

Reference

Citations & Metadata

Citation

42 U.S.C. § 12853

Title 42, The Public Health and Welfare

Last Updated

Sep 22, 2026

Release point: 119-110