Title 42 — The Public Health and WelfareRelease 119-73not60

§12853 National Homeownership Trust Fund

Title 42 › Chapter 130— NATIONAL AFFORDABLE HOUSING › Subchapter III— NATIONAL HOMEOWNERSHIP TRUST DEMONSTRATION › § 12853

Last updated Apr 5, 2026|Official source

Summary

Creates a revolving fund in the U.S. Treasury called the National Homeownership Trust Fund. Money in the Fund comes from three things: amounts Congress approves under section 12857 for this program, any repayments the Trust receives, and any money the Trust gets from its investments under subsection (d). The Trust may use the Fund for this program when Congress approves it. If the Trust has more money than it needs right now, it must invest the extra money in U.S. government or government‑guaranteed obligations. Using up to $20,000,000 of the amounts Congress provided for the Fund in fiscal year 1991, the Secretary must run demonstration programs. Those include up to $4,200,000 in Milwaukee to revive two vacant buildings in a blighted minority neighborhood; up to $10,000,000 in Washington, D.C. for nonprofit neighborhood groups to buy and fix vacant housing for low‑ and moderate‑income families and to do neighborhood economic development; up to $1,000,000 in Philadelphia for technical help to a citywide community development partnership; and other projects the Secretary chooses.

Full Legal Text

Title 42, §12853

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

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

(b)The Fund shall consist of—

(1)any amount approved in appropriation Acts under section 12857 of this title for purposes of carrying out this subchapter;

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

(d)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)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

Apr 5, 2026

Release point: 119-73not60