A bill to provide certain protections for tenants of public housing and other assisted housing projects.

Amends the United States Housing Act of 1937 to require income limits for occupancy and rent of public housing to be fixed by the public housing agency and approved by the Secretary of Housing and Urban Development, except as otherwise provided in such Act. Decreases the maximum percentage of a family's monthly adjusted income payable as rent for public housing. Prohibits a tenant from paying rent exceeding the amount equal to the cost to the public housing authority for operating the tenant's unit.

Amends the definition of "income" for purposes of such Act to exclude the value of food stamps or certificates. Excludes from the definition of "adjusted income": (1) income from each family member residing in the household who is 18 years of age or older and is disabled, handicapped, or a full-time student; (2) $500 for each elderly member of a household and each minor who is disabled, handicapped, or enrolled in an accredited school; (3) medical and educational expenses; and (4) child care expenses which are necessary for the employment of other household members. Amends the National Housing Act and the Housing and Urban Development Act of 1965 to adopt the same definitions for "income" and "adjusted income."

Amends the National Housing Act to decrease the maximum and increase the minimum percentage of a tenant's adjusted income payable as rent for lower income housing assisted under such Act.

Amends the Housing and Urban Development Act of 1965 to increase the maximum rent supplement payments payable by the Secretary for lower income families under such Act.

Amends the United States Housing Act of 1937 to prohibit the demolition, sale, or other disposal of a public housing project, unless: (1) the Secretary, the public housing authority, and the local government have certified their approval; (2) the project is substantially unoccupied; (3) there is no waiting list for public housing units in the area; (4) the costs of rehabilitating the project would be greater than replacing it; (5) the project tenants have been notified and consulted; (6) the Secretary and the public housing agency have entered into agreements assuring relocation assistance to displaced tenants; and (7) the agency has secured funding which has been committed to replacing such project with new or substantially rehabilitated units in the same neighborhood or, under certain conditions, in another neighborhood. Permits certain requirements to be waived with the consent of the tenants if there are sound social and economic reasons for the demolition or disposal of the project.