3.0.0 655 2022-02-03T05:22:46Z 2022-02-03T05:22:46Z House H HR 2007-01-24 110 hsba00 Financial Services Committee House Standing hsba04 Housing and Insurance Subcommittee Referred to 2007-04-12T17:39:55Z Referred to 2007-01-24T15:01:50Z 2007-04-12 hsba04 Housing and Insurance Subcommittee 1 House committee actions Referred to the Subcommittee on Housing and Community Opportunity. Committee 2007-01-24 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2007-01-24 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-01-24 Introduced in House IntroReferral 1000 9 Library of Congress V000081 Rep. Velazquez, Nydia M. [D-NY-12] NYDIA VELAZQUEZ D NY M. 12 N Housing and Community Development Affordable housing Apartment houses Building laws Cooperative housing Finance and Financial Sector Government Operations and Politics Home repair and improvement Mortgages Real estate appraisal Rental housing Residential rehabilitation Surplus government property Housing and Community Development 00 2007-01-24 Introduced in House 2007-02-16T16:09:27Z Pathway to Preservation Act of 2007 - Amends the Deficit Reduction Act of 2005 to redefine "loan market value," which currently means the value of a multifamily (rental or cooperative housing project) loan, without taking into account any affordability requirements. Repeals the condition that affordability requirements not be taken into account. Defines "loan market value" as the value of a multifamily (rental or cooperative housing project) loan using industry standard appraisal practices, including consideration of the cost of repairs needed for the property subject to the loan to comply with minimum safety and building standards and the cost of maintaining the affordability restrictions applicable under the original loan or grant for the property.

Redefines "property market value," which currently means the value of a multifamily (rental or cooperative housing project) real property for its current use, without taking into account any affordability requirements. Repeals the condition that affordability requirements not be taken into account. Defines "property market value" as the value of a multifamily (rental or cooperative housing project) real property for its current use, as determined using industry standard appraisal practices, including consideration of the cost of repairs needed for the property subject to the loan to comply with minimum safety and building standards and the cost of maintaining the affordability restrictions applicable under the original loan or grant for the property.

]]> Pathway to Preservation Act of 2007 Short Titles as Introduced Pathway to Preservation Act of 2007 Display Title Pathway to Preservation Act of 2007 Official Title as Introduced To provide for more accurate valuation of multifamily housing properties, and loans for such properties, that are sold at a discount by the Department of Housing and Urban Development to facilitate acquisition of such properties that maintains the properties as affordable housing. Introduced in House 2007-01-24T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr655ih/xml/BILLS-110hr655ih.xml 2007-04-12 Referred to the Subcommittee on Housing and Community Opportunity. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.