3.0.0 2587 2023-01-11T13:19:08Z 2023-01-11T13:19:08Z House H HR 2009-05-21 111 hsba00 Financial Services Committee House Standing Referred to 2009-05-21T14:06:47Z 2009-05-21 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-05-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-05-21 Introduced in House IntroReferral 1000 9 Library of Congress C001047 Rep. Capito, Shelley Moore [R-WV-2] Shelley Capito R WV Moore 2 N L000568 Rep. Lee, Christopher J. [R-NY-26] Christopher Lee R NY J. 26 2009-05-21 True Housing and Community Development Budget deficits and national debt Financial crises and stabilization Housing and community development funding Housing and Community Development 00 2009-05-21 Introduced in House 2009-07-24T21:47:09Z Neighborhood Stabilization Program Reform Act of 2009 - Amends the Housing and Economic Recovery Act of 2008, as amended by the American Recovery and Reinvestment Act of 2009, to revise requirements for the use by state and local governments of emergency assistance provided to them for the redevelopment of abandoned and foreclosed homes and residential properties.

Requires any revenue generated, during a specified two-year reinvestment period, from the sale, rental, redevelopment, rehabilitation, or any other eligible use in excess of the cost to acquire and redevelop or rehabilitate an abandoned or foreclosed home or residential property, to be provided to and used by the state or local government in accordance with, and in furtherance of, the intent and provisions of this Act.

Requires transfer of the revenue so generated in excess of such cost to the special account established in the U.S. Treasury into which money received as gifts and proceeds from the sale or redemption of gifts shall be deposited.

Requires such revenues to be used for public debt reduction only.

]]> Neighborhood Stabilization Program Reform Act of 2009 Display Title Neighborhood Stabilization Program Reform Act of 2009 Official Title as Introduced To limit the reinvestment by States and localities of profits under the Neighborhood Stabilization Program of the Department of Housing and Urban Development. Introduced in House IH Short Titles as Introduced Neighborhood Stabilization Program Reform Act of 2009 Introduced in House 2009-05-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr2587ih/xml/BILLS-111hr2587ih.xml 2009-05-21 Referred to the House Committee on Financial Services. 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.