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<BillSummaries>
<item congress="113" measure-type="hr" measure-number="1997" measure-id="id113hr1997" originChamber="HOUSE" orig-publish-date="2013-05-15" update-date="2013-06-12">
<title>Communities Achieving Sustainability Act</title>
<summary summary-id="id113hr1997v00" currentChamber="HOUSE" update-date="2013-06-12">
<action-date>2013-05-15</action-date>
<action-desc>Introduced in House</action-desc>
<summary-text><![CDATA[<p>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.</p> <p>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.</p> <p>Allows mortgage insurance for up to four such structures during a calendar year.</p> <p>Prohibits such mortgages from exceeding 90% of the appraised value of the structure in question.</p> <p>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.</p>]]></summary-text>
</summary>
</item>
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<dc:language>EN</dc:language>
<dc:rights>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.</dc:rights>
<dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
<dc:description>This file contains bill summaries 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.</dc:description>
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</BillSummaries>
