Public Housing Comprehensive Grant Act

[AI summary unavailable — showing source text] Public Housing Comprehensive Grant Act - Amends the United States Housing Act of 1937 to authorize a public housing agency to use any amounts made available from contributions by the Secretary of Housing and Urban Development (the Secretary). Authorizes appropriations for FY 1987 and 1988. Authorizes the Secretary to make financial assistance available to public housing agencies. Directs the Secretary to determine from appropriated annual amounts the amount necessary to fund the annual accrual of capital improvement needs of public housing agencies and to allocate such sums to each public housing agency based on specified formulae reflecting capital improvement needs. Requires the Secretary to approve a five-year comprehensive plan submitted by a public housing agency before financial assistance may be made available under this Act (except where conditions constitute an immediate threat to the health or safety of tenants). Details the requirements of such a comprehensive plan and the basis upon which it will be disapproved. Requires the Secretary to notify the public housing agency in writing if the plan is not approved, indicating the reasons for disapproval and the modifications …