National Homestead Act

National Homestead Act - Directs the Secretary of Housing and Urban Development to transfer any real property to local public housing agencies without charge: (1) which is improved by a single-family dwelling; (2) which the Secretary holds title; (3) which is not occupied and (4) which is suitable for use and requested by the Agency for use in a local homestead program. Provides for the establishment of homestead programs to be carried out by such agencies. Directs the Secretary to approve any such program which provides for: (1) the conveyance of residential property by the local public housing agency to qualified applicants on a conditional basis, in return for the payment by the applicant of a nominal fee, not to exceed $100; and (2) an agreement whereby the applicant agrees to occupy such property as a principal residence for a period of not less than three years and to rehabilitate the property as may be necessary to meet the requirements of applicable State and local law.

Sets forth the qualifications for applicants in such programs. Requires local public housing agencies to give preference to qualified low-and moderate-income applicants.

States that after the applicant has occupied such property for the required three-year period and has rehabilitated and maintained it and otherwise complied with the terms of his or her agreement, the Secretary shall convey to the applicant fee simple title to the property.

Authorizes the Secretary to issue such rules and regulations as may be necessary to carry out his functions under this Act. Directs the Secretary to conduct a continuing evaluation of programs carried out pursuant to this Act and, commencing with the third fiscal year beginning after the date of enactment of this Act, to transmit to the Congress an annual report containing a summary of his evaluation of such programs and his recommendations for the future conduct of such programs.

Authorizes to be appropriated such sums as may be necessary to carry out this Act.