Amendment allows housing authorities to use additional funds earned from rent increases for more housing activities including the provision of additional vouchers; permits HOPE VI funds to be used for remodeling activities; deletes precise authorization levels in title II and inserts language that authorizes such sums as may be necessary; allows non-elderly disabled who may be displaced under the bill to qualify for other programs; adds language concerning the home rule flexibility grant option; and permits HUD to promulgate rules and regulations in the area of reverse mortgages.