3.0.0 1997 2023-01-11T13:23:18Z 2023-01-11T13:23:18Z House H HR 2013-05-15 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. McKEON:H.R. 1997.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3 of the Constitution--theCommerce Clause--and Article I, Section 8, Clause 18 of theConstitution--the Necessary and Proper Clause.[Page H2655]]]> hsba00 Financial Services Committee House Standing Referred to 2013-05-15T14:03:35Z 2013-05-15 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-05-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-05-15 Introduced in House IntroReferral 1000 9 Library of Congress M000508 Rep. McKeon, Howard P. "Buck" [R-CA-25] HOWARD MCKEON R CA P. 25 N P000608 Rep. Peters, Scott H. [D-CA-52] Scott Peters D CA H. 52 2013-05-15 True Housing and Community Development Government lending and loan guarantees Housing finance and home ownership Real estate business Residential rehabilitation and home repair Housing and Community Development 00 2013-05-15 Introduced in House 2013-06-12T15:11:25Z Communities Achieving Sustainability Act - Directs the Secretary of Housing and Urban Development (HUD), during a 2-year period, to insure and make commitments to insure rehabilitation loans (including advances during rehabilitation) made by financial institutions in order to assist in the rehabilitation of 1- to 4-family structures used primarily for residential purposes.

Limits insurable rehabilitation loans to investors who do not intend to occupy the structure in question but obtain a rehabilitation loan for the purpose of appreciation or production of income with respect to the structure.

Allows mortgage insurance for up to four such structures during a calendar year.

Prohibits such mortgages from exceeding 90% of the appraised value of the structure in question.

Requires the single premium payment due at the time of insurance to be increased by 10 basis points for any mortgage insured under this Act.

]]> Communities Achieving Sustainability Act Display Title Communities Achieving Sustainability Act Official Title as Introduced To allow investor participation in the loan rehabilitation program authorized under section 203(k) of the National Housing Act. Introduced in House IH Short Titles as Introduced Communities Achieving Sustainability Act Introduced in House 2013-05-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1997ih/xml/BILLS-113hr1997ih.xml 2013-05-15 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.