Housing Authorization Act

[AI summary unavailable — showing source text] Housing Authorization Act - Increases the authorization of funds for the following programs administered by the Secretary of the Department of Housing and Urban Development (HUD): (1) housing assistance; (2) comprehensive planning; (3) research; and (4) flood insurance. Authorizes an increase in appropriations for HUD's administrative expenses for fiscal year 1977. Increases mortgage limitations under the National Housing Act homeownership assistance programs. Extends assistance under the Emergency Homeowners' Relief Act and the Emergency Home Purchase Assistance Act through fiscal year 1977. Reallocates community development block grant funds under the Housing and Community Development Act. Amends the Flood Disaster Protection Act of 1973 to exempt from provisions of the Act requiring flood insurance, any loan to finance a residence acquired prior to March 1, 1976, or one year following identification of the area where such building is located as a flood hazard area, whichever is later. Sets limitations on the funds available for the Rehabilitation Loan Program of the Housing Act of 1964 for fiscal year 1977. Authorizes appropriations of $500,000,000 to cover losses sustained by t…