21st Century ROAD to Housing Act Public Law 119–101 21st Century ROAD to Housing Act 101 119–101 Statute Compilation United States House of Representatives Office of the Legislative Counsel 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. GPO Statute Compilations USLM converter, version 20240419 2026-08-07 21st Century ROAD to Housing Act 18421 119 2026-07-11 21st Century ROAD to Housing Act [(Public Law 119–101)] [This law has not been amended] [Currency: This publication is a compilation of the text of Public Law 119–101. It was last amended by the public law listed in the As Amended Through note above and below at the bottom of each page of the pdf version and reflects current law through the date of the enactment of the public law listed at https://www.govinfo.gov/app/collection/comps/] [Note: While this publication does not represent an official version of any Federal statute, substantial efforts have been made to ensure the accuracy of its contents. The official version of Federal law is found in the United States Statutes at Large and in the United States Code. The legal effect to be given to the Statutes at Large and the United States Code is established by statute (1 U.S.C. 112, 204).]
AN ACTTo increase the supply of housing in America, and for other purposes.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) [12 U.S.C. 1701 note] Short Title.—This Act may be cited as the “21st Century ROAD to Housing Act”. (b) Table of Contents.—The table of contents for this Act is as follows: TITLE I— TITLE II— TITLE III— TITLE IV— TITLE V— TITLE VI— TITLE VII— TITLE VIII— TITLE IX— TITLE X— TITLE XI— TITLE XII—
<num style="-uslm-dtd:enum" value="I">TITLE I—</num><heading style="-uslm-dtd:header">OPPORTUNITIES FOR HOUSING </heading> <section identifier="/us/sComp/119/101/tI/s101" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="101">SEC. 101. </num><heading style="-uslm-dtd:header">REFORMS TO HOUSING COUNSELING AND FINANCIAL LITERACY PROGRAMS. </heading> <chapeau class="block" style="-uslm-dtd:text">Section 106 of the Housing and Urban Development Act of 1968 (12 U.S.C. 1701x) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s101/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in subsection (a)(4)(C), by striking “<quotedText style="-uslm-dtd:quote">adequate distribution</quotedText>” and all that follows through “<quotedText style="-uslm-dtd:quote">foreclosure rates</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">that the recipients are geographically diverse and include organizations that serve urban or rural areas</quotedText>”;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s101/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in subsection (e), by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">“(6) </num><heading style="-uslm-dtd:header">Reviews.—</heading><chapeau style="-uslm-dtd:text">The Secretary—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">may conduct periodic reviews; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><chapeau style="-uslm-dtd:text">shall conduct performance reviews of all organizations receiving assistance under this section that—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">consist of a review of the organization’s compliance with all program requirements; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">may take into account the organization’s aggregate counselor performance under paragraph (7)(B).</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">“(7) </num><heading style="-uslm-dtd:header">Considerations.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Covered mortgage loan defined.—</heading><chapeau style="-uslm-dtd:text">In this paragraph, the term ‘<quotedText style="-uslm-dtd:quote">covered mortgage loan</quotedText>’ means any loan which is secured by a first or subordinate lien on residential real property (including individual units of condominiums and housing cooperatives) designed principally for the occupancy of between 1 and 4 families that is—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">insured by the Federal Housing Administration under title II of the National Housing Act (12 U.S.C. 1707 et seq.); or</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">guaranteed under section 184 or 184A of the Housing and Community Development Act of 1992 (12 U.S.C. 1715z-13a, 1715z-13b).</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Comparison.—</heading><content style="-uslm-dtd:text">For each counselor employed by an organization receiving assistance under this section for prepurchase housing counseling, the Secretary may consider the performance of the counselor compared to the default rate of all counseled borrowers of a covered mortgage loan in comparable markets and such other factors as the Secretary determines appropriate to further the purposes of this section.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">“(8) </num><heading style="-uslm-dtd:header">Certification.—</heading><chapeau style="-uslm-dtd:text">If, based on the comparison required under paragraph (7)(B), the Secretary determines that a counselor lacks competence to provide counseling in the areas described in subsection (e)(2) and such action will not create a significant loss of capacity for housing counseling services in the service area, the Secretary may—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">require continued education coupled with successful completion of a probationary period;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">require retesting if the counselor continues to demonstrate a lack of competence under paragraph (7)(B); and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">suspend an individual certification if a counselor fails to demonstrate competence after not fewer than 2 retesting opportunities under subparagraph (B).”</content> </subparagraph> </paragraph></quotedContent>;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s101/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><chapeau style="-uslm-dtd:text">in subsection (i)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s101/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by redesignating paragraph (3) as paragraph (4); and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s101/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by inserting after paragraph (2) the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Termination of assistance.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary may deny renewal of covered assistance to an organization or entity receiving covered assistance if the Secretary determines that the organization or entity, or the individual through which the organization or entity provides counseling, is not in compliance with program requirements—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">based on the performance review described in subsection (e)(6); and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">in accordance with regulations issued by the Secretary.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Notice.—</heading><content style="-uslm-dtd:text">The Secretary shall give an organization or entity receiving covered assistance not less than 60 days prior written notice of any denial of renewal under this paragraph, and the determination of renewal shall not be finalized until the end of that notice period.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Informal conference.—</heading><content style="-uslm-dtd:text">If requested in writing by the organization or entity within the notice period described in subparagraph (B), the organization or entity shall be entitled to an informal conference with the Deputy Assistant Secretary of Housing Counseling on behalf of the Secretary at which the organization or entity may present for consideration specific factors that the organization or entity believes were beyond the control of the organization or entity and that caused the failure to comply with program requirements, such as a lack of lender or servicer coordination or communication with housing counseling agencies and individual counselors.”</content> </subparagraph> </paragraph></quotedContent>; and</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s101/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="j">“(j) </num><heading style="-uslm-dtd:header">Offering Foreclosure Mitigation Counseling.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Covered mortgage loan defined.—</heading><chapeau style="-uslm-dtd:text">In this subsection, the term ‘<quotedText style="-uslm-dtd:quote">covered mortgage loan</quotedText>’ means any loan which is secured by a first or subordinate lien on residential real property (including individual units of condominiums and housing cooperatives) or stock or membership in a cooperative ownership housing corporation designed principally for the occupancy of between 1 and 4 families that is—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">insured by the Federal Housing Administration under title II of the National Housing Act (12 U.S.C. 1707 et seq.);</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">guaranteed under section 184 or 184A of the Housing and Community Development Act of 1992 (12 U.S.C. 1715z-13a, 1715z-13b);</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">made, guaranteed, or insured by the Department of Veterans Affairs; or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">made, guaranteed, or insured by the Department of Agriculture.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Opportunity for borrowers.—</heading><content style="-uslm-dtd:text">A borrower with respect to a covered mortgage loan who is 30 days or more delinquent on payments for the covered mortgage loan shall be given an opportunity to participate in available housing counseling.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Cost.—</heading><content style="-uslm-dtd:text">If the requirements of sections 202(a)(3) and 205(f) of the National Housing Act (12 U.S.C. 1708(a)(3), 1711(f)) are met, the fair market rate cost of counseling for delinquent borrowers described in paragraph (2) with respect to a covered mortgage loan described in paragraph (1)(A) shall be paid for by the Mutual Mortgage Insurance Fund, as authorized under section 203(r)(4) of the National Housing Act (12 U.S.C. 1709(r)(4)).”</content> </paragraph> </subsection></quotedContent>.</content> </paragraph> </section> <section identifier="/us/sComp/119/101/tI/s102" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="102">SEC. 102. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s5301">42 U.S.C. 5301 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">FEDERAL GUIDELINES FOR POINT-ACCESS BLOCK BUILDINGS. </heading> <subsection identifier="/us/sComp/119/101/tI/s102/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Not later than 18 months after the date of enactment of this section, the Secretary of Housing and Urban Development shall issue guidelines to provide States, territories, Tribes, and localities with model code language, best practices, and technical guidance that could be used to facilitate the permitting of point-access block residential buildings.</content> </subsection> <subsection identifier="/us/sComp/119/101/tI/s102/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Contents.—</heading><chapeau style="-uslm-dtd:text">When developing the guidelines under subsection (a), the Secretary of Housing and Urban Development shall consider—</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s102/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">fire safety considerations, including sprinkler coverage, smoke detection, ventilation, and building egress performance;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s102/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">construction costs and potential impacts on housing affordability, including the potential for increasing housing supply in high-cost jurisdictions;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s102/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">flexibility for diverse consumer needs, including family sizes, unit configurations, and accessibility;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s102/b/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">examples of single-stair codes adopted or considered by States and cities in the United States;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s102/b/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">examples of single-stair codes used in relevant international standards;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s102/b/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">research and model language relating to single-stair codes produced by organizations that focus on point-access block building design and building-code reform;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s102/b/7" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">(7) </num><content style="-uslm-dtd:text">consulting with experts, including developers, architects, fire marshals, researchers, economists, housing authorities, and officials in States that have enacted or piloted single-stair codes; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s102/b/8" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">(8) </num><content style="-uslm-dtd:text">alternative methods of safety compliance, including options that utilize additional passive or active safety features.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s102/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Coordination With the International Code Council.—</heading><content style="-uslm-dtd:text">The Secretary of Housing and Urban Development shall coordinate with the International Code Council to encourage the International Code Council to incorporate provisions about point-access block buildings into the International Building Code.</content> </subsection> <subsection identifier="/us/sComp/119/101/tI/s102/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Grants.—</heading> <paragraph identifier="/us/sComp/119/101/tI/s102/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary of Housing and Urban Development may establish a program to award competitive grants to eligible entities to implement pilot projects that evaluate, demonstrate, or validate the safety, feasibility, or cost-effectiveness of point-access block residential buildings.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s102/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Sunset.—</heading><content style="-uslm-dtd:text">The program established under paragraph (1) shall terminate on the date that is 7 years after the date of enactment of this subsection.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s102/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Treatment of Projects.—</heading><content style="-uslm-dtd:text">Projects assisted under this section shall be treated as projects assisted under the Community Development Block Grant program under title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.).</content> </subsection> <subsection identifier="/us/sComp/119/101/tI/s102/f" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Rule of Construction.—</heading><content style="-uslm-dtd:text">Nothing in this section may be construed to preempt a State or local building code.</content> </subsection> <subsection identifier="/us/sComp/119/101/tI/s102/g" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s102/g/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Eligible entity.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">eligible entity</quotedText>” means a State, unit of local government, Tribal Government, public housing agency, nonprofit housing organization, community development organization, private developer, construction firm, qualified design firm, engineering firm, academic institution, research institution, or any partnership or consortium comprised of 2 or more such types of entities.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s102/g/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Point-access block building.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">point-access block building</quotedText>” means a Group R-2 occupancy residential structure, as such term is defined by the International Building Code, in which a single internal stairway provides access and egress for all dwelling units in a building that is not greater than 6 stories in height.</content> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tI/s103" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="103">SEC. 103. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1471a">42 U.S.C. 1471a</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">EXEMPTION ON CONSTRUCTION OR MODIFICATION OF RESIDENTIAL HOUSING LOCATED ON AN INFILL SITE. </heading> <subsection identifier="/us/sComp/119/101/tI/s103/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Exemption.—</heading><content style="-uslm-dtd:text">In providing assistance under section 501, 502, 504, 515, 533, or 538 of the Housing Act of 1949 (42 U.S.C. 1471, 1472, 1474, 1485, 1490m, or 1490p-2) for the construction or modification of residential housing located on an infill site, the Secretary of Agriculture shall not be required to carry out any study or report on the environmental effects of such assistance.</content> </subsection> <subsection identifier="/us/sComp/119/101/tI/s103/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Report.—</heading><chapeau style="-uslm-dtd:text">Not later than the date that is 5 years after the date of enactment of this section, the Secretary of Agriculture shall submit, to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, a report that—</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s103/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">determines whether the implementation of this section—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s103/b/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">reduced the amount of time it takes to review an application for assistance under the sections of the Housing Act of 1949 identified in subsection (a); and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s103/b/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">reduced the administrative cost of providing such assistance;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s103/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">describes how the implementation of this section affects the affordable housing sector in rural America; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s103/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">includes any legislative recommendations from the Secretary of Agriculture.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s103/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s103/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Greenfield.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">greenfield</quotedText>” means a site that has not been developed, including a woodland, farmland, and an open field.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s103/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Infill site.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">infill site</quotedText>”—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s103/c/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">means a site that is served by existing infrastructure, including water lines, sewer lines, and roads; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s103/c/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">does not include—</chapeau> <clause identifier="/us/sComp/119/101/tI/s103/c/2/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">a site that is served by existing infrastructure that only consists of a road;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s103/c/2/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">a site within a census tract designated as very high or relatively high risk for wildfire, coastal flooding, and riverine flooding under the National Risk Index of the Federal Emergency Management Agency pursuant to section 206 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5136); and</content> </clause> <clause identifier="/us/sComp/119/101/tI/s103/c/2/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">a greenfield.</content> </clause> </subparagraph> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tI/s104" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="104">SEC. 104. </num><heading style="-uslm-dtd:header">DATABASE OF PUBLICLY OWNED LAND. </heading> <subsection identifier="/us/sComp/119/101/tI/s104/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">Section 104(b) of the Housing and Community Development Act of 1974 (42 U.S.C. 5304(b)) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s104/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (5), by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s104/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (6), by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s104/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">“(7) </num><content style="-uslm-dtd:text">the grantee maintains, on a publicly accessible website, a searchable database that identifies all parcels of undeveloped land owned by the grantee.”</content> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s104/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Eligible Activity.—</heading><chapeau style="-uslm-dtd:text">Section 105(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(a)) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s104/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (25), by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s104/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (26), by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s104/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="27">“(27) </num><content style="-uslm-dtd:text">the creation and maintenance of a database of land as required under section 104(b)(7).”</content> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s104/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s5304">42 U.S.C. 5304 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendment made by this subsection shall take effect on October 1, 2026.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tI/s105" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="105">SEC. 105. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s1708">12 U.S.C. 1708 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">FHA SMALL-DOLLAR MORTGAGES. </heading> <subsection identifier="/us/sComp/119/101/tI/s105/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of the enactment of this section, the Secretary of Housing and Urban Development, acting through the Federal Housing Commissioner, may establish a pilot program to increase access to small-dollar mortgages for mortgagors, which may include—</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s105/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">authorizing direct payments to mortgagees to incentivize the origination of small-dollar mortgages;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s105/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">adjusting terms and costs imposed by the Federal Housing Administration with respect to small-dollar mortgages;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s105/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><chapeau style="-uslm-dtd:text">providing direct grants for mortgagors who obtain small-dollar mortgages to cover costs associated with—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s105/a/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">down payments;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s105/a/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">closing costs;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s105/a/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">appraisals; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s105/a/3/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">title insurance;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s105/a/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">conducting outreach to potential mortgagors about the availability of small-dollar mortgages; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s105/a/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">providing technical assistance for mortgagees that originate small-dollar mortgages.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s105/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Report.—</heading><chapeau style="-uslm-dtd:text">Beginning not later than 1 year after the establishment of the pilot program under subsection (a) and ending 1 year after the sunset of the pilot program, the Federal Housing Commissioner shall submit to Congress an annual report that—</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s105/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">tracks and evaluates the outcomes of small-dollar mortgages originated by mortgagees as a result of support provided under subsection (a);</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s105/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">analyzes risks of the pilot program to the solvency of the Mutual Mortgage Insurance Fund;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s105/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><chapeau style="-uslm-dtd:text">includes data with respect to—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s105/b/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the number of small-dollar mortgages originated in the 10-year period preceding the date of enactment of this section, including small-dollar mortgages insured or guaranteed by the Federal Government and small-dollar mortgages not insured by the Federal Government;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s105/b/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the original principal balance of each small-dollar mortgage identified under subparagraph (A);</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s105/b/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">demographic information about the mortgagors associated with each such small-dollar mortgages; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s105/b/3/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">the number and type of mortgagees that offer small-dollar mortgages;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s105/b/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">provides a description of the fixed costs that are associated with mortgages and the impact of such costs on the ability of lenders to earn a market rate return on small-dollar mortgages; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s105/b/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">includes analysis, by regions of the United States, including rural regions, that identifies regions with the greatest need for, and the highest likelihood of, the origination of small-dollar mortgages and regions that could benefit the most from increased availability of small-dollar mortgages.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s105/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Sunset.—</heading><content style="-uslm-dtd:text">The pilot program established under subsection (a) shall terminate on the date that is 4 years after the date on which the pilot program is established under subsection (a).</content> </subsection> <subsection identifier="/us/sComp/119/101/tI/s105/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Expiration of Authority.—</heading><content style="-uslm-dtd:text">After the expiration of the 3-year period beginning on the date of enactment of this section, neither the Federal Housing Commissioner nor the Secretary of Housing and Urban Development may newly establish a pilot program to increase access to small-dollar mortgages for mortgagors.</content> </subsection> <subsection identifier="/us/sComp/119/101/tI/s105/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Small-dollar Mortgage Defined.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">small-dollar mortgage</quotedText>” means a mortgage that—</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s105/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">has an original principal balance of $100,000 or less; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s105/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">is secured by a 1- to 4-unit property that is the principal residence of the mortgagor.</content> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tI/s106" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="106">SEC. 106. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1437">42 U.S.C. 1437 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">TEMPERATURE SENSOR PILOT PROGRAM. </heading> <subsection identifier="/us/sComp/119/101/tI/s106/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">The Secretary of Housing and Urban Development shall establish a temperature sensor pilot program to provide grants to public housing agencies and owners of covered federally assisted rental dwelling units to acquire, install, and test the efficacy of approved temperature sensors in residential dwelling units to ensure such units remain in compliance with temperature requirements.</content> </subsection> <subsection identifier="/us/sComp/119/101/tI/s106/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Eligibility.—</heading> <paragraph identifier="/us/sComp/119/101/tI/s106/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary of Housing and Urban Development shall, not later than 180 days after the date of enactment of this Act, establish eligibility criteria for public housing agencies and owners of covered federally assisted rental dwelling units to participate in the pilot program established pursuant to subsection (a).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s106/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Criteria.—</heading><chapeau style="-uslm-dtd:text">In establishing the eligibility criteria described in paragraph (1), the Secretary shall ensure—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s106/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the pilot program includes a diverse range of participants that represent different geographic regions, climate regions, unit sizes, and types of housing; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s106/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">that the functionality of an approved temperature sensor will be installed and tested using amounts awarded under this section, including internet connectivity requirements.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s106/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Installation.—</heading><content style="-uslm-dtd:text">Each public housing agency or owner of a covered federally assisted rental dwelling unit that acquires 1 or more approved temperature sensors under this section shall, after receiving written permission from the resident of a dwelling unit, install such temperature sensor and monitor the data from such temperature sensor.</content> </subsection> <subsection identifier="/us/sComp/119/101/tI/s106/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Collection of Complaint Records.—</heading> <paragraph identifier="/us/sComp/119/101/tI/s106/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Each public housing agency or owner of a covered federally assisted rental dwelling unit that installs 1 or more approved temperature sensors under this section shall collect and retain information about temperature-related complaints and temperature-related violations.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s106/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Definitions.—</heading><content style="-uslm-dtd:text">The Secretary shall, not later than 180 days after the date of enactment of this Act, define the terms “temperature-related complaints” and “temperature-related violations” for the purposes of this subsection.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s106/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Data Collection.—</heading> <paragraph identifier="/us/sComp/119/101/tI/s106/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Data collected from temperature sensors acquired and installed by public housing agencies and owners of covered federally assisted rental dwelling units under this section shall be retained until the Secretary of Housing and Urban Development notifies the public housing agency or owner that the pilot program and the evaluation of the pilot program are complete.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s106/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Personally identifiable information.—</heading><content style="-uslm-dtd:text">The Secretary of Housing and Urban Development shall, not later than 180 days after the date of enactment of this Act, establish standards for the protection of personally identifiably information collected during the pilot program by public housing agencies, owners of federally assisted rental dwelling units, and the Secretary.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s106/f" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Pilot Program Evaluation.—</heading> <paragraph identifier="/us/sComp/119/101/tI/s106/f/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Interim evaluation.—</heading><chapeau style="-uslm-dtd:text">Not later than 12 months after the establishment of the pilot program under this section, the Secretary of Housing and Urban Development shall publicly publish and submit to Congress a report that—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s106/f/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">examines the number of temperature-related complaints and temperature-related violations in federally assisted rental dwelling units with temperature sensors, disaggregated by temperature sensor technology and climate region—</chapeau> <clause identifier="/us/sComp/119/101/tI/s106/f/1/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">that occurred before the installation of such sensor, if known; and</content> </clause> <clause identifier="/us/sComp/119/101/tI/s106/f/1/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">that occurred after the installation of such sensor; and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s106/f/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">identifies any barriers to full utility of temperature sensor capabilities, including broadband internet access and tenant participation.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s106/f/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Final evaluation.—</heading><chapeau style="-uslm-dtd:text">Not later than 36 months after the conclusion of the pilot program established by the Secretary of Housing and Urban Development under this section, the Secretary shall publicly publish and submit to Congress a report that—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s106/f/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">examines the number of temperature-related complaints and temperature-related violations in federally assisted rental dwelling units with temperature sensors, disaggregated by temperature sensor technology and climate region—</chapeau> <clause identifier="/us/sComp/119/101/tI/s106/f/2/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">that occurred before the installation of such sensor; and</content> </clause> <clause identifier="/us/sComp/119/101/tI/s106/f/2/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">that occurred after the installation of such sensor;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s106/f/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">identifies any barriers to full utility of temperature sensor capabilities, including broadband internet access and tenant participation; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s106/f/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">compares the utility of various temperature sensor technologies based on—</chapeau> <clause identifier="/us/sComp/119/101/tI/s106/f/2/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">climate zones;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s106/f/2/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">cost;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s106/f/2/C/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">features; and</content> </clause> <clause identifier="/us/sComp/119/101/tI/s106/f/2/C/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">any other factors identified by the Secretary.</content> </clause> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s106/g" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Treatment of Projects.—</heading><content style="-uslm-dtd:text">Projects assisted under this section shall be treated as projects assisted under the Community Development Block Grant program under title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.).</content> </subsection> <subsection identifier="/us/sComp/119/101/tI/s106/h" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="h">(h) </num><heading style="-uslm-dtd:header">Sunset.—</heading><content style="-uslm-dtd:text">The pilot program established under this section shall terminate on the date that is 3 years after the date of enactment of this section.</content> </subsection> <subsection identifier="/us/sComp/119/101/tI/s106/i" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s106/i/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Approved temperature sensor.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">approved temperature sensor</quotedText>” means an internet capable temperature reporting device able to measure ambient air temperature to the tenth degree Fahrenheit and Celsius selected from a list of such devices approved in advance by the Secretary of Housing and Urban Development.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s106/i/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Assistance.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">assistance</quotedText>”—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s106/i/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">means any grant, loan, subsidy, contract, cooperative agreement, or other form of financial assistance; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s106/i/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">does not include the insurance or guarantee of a loan, mortgage, or pool of loans or mortgages.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s106/i/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Covered federally assisted rental dwelling unit.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">covered federally assisted rental dwelling unit</quotedText>” means a residential dwelling unit that is made available for rental and for which assistance is provided, or that is part of a housing project for which assistance is provided, under—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s106/i/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the program for project-based rental assistance under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f);</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s106/i/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the public housing program under the United States Housing Act of 1937 (42 U.S.C. 1437 et seq.);</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s106/i/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">the program for supportive housing for the elderly under section 202 of the Housing Act of 1959 (12 U.S.C. 1701q); or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s106/i/3/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">the program for supportive housing for persons with disabilities under section 811 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 8013).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s106/i/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Owner.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">owner</quotedText>” means—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s106/i/4/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">with respect to the program for project-based rental assistance under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f), any private person or entity, including a cooperative, an agency of the Federal Government, or a public housing agency, having the legal right to lease or sublease dwelling units;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s106/i/4/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">with respect to the public housing program under the United States Housing Act of 1937 (42 U.S.C. et seq.), a public housing agency or an owner entity, as those terms are defined in section 905.108 of title 24, Code of Federal Regulations, of public housing units;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s106/i/4/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">with respect to the program for supportive housing for the elderly under section 202 of the Housing Act of 1959 (12 U.S.C. 1701q), a private nonprofit organization, as defined under subsection (k)(4) of that section; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s106/i/4/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">with respect to the program for supportive housing for persons with disabilities under section 811 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 8013), a private nonprofit organization, as defined under subsection (k)(6) of that section.</content> </subparagraph> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tI/s107" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="107">SEC. 107. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s12705">42 U.S.C. 12705 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">HOUSING SUPPLY FRAMEWORKS. </heading> <subsection identifier="/us/sComp/119/101/tI/s107/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s107/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Affordable housing.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">affordable housing</quotedText>” means housing for which the monthly payment is not more than 30 percent of the monthly income of the household.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Assistant secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Assistant Secretary</quotedText>” means the Assistant Secretary for Policy Development and Research of the Department of Housing and Urban Development.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Local zoning framework.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">local zoning framework</quotedText>” means the local zoning codes and other ordinances, procedures, and policies governing zoning and land-use at the local level.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/a/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/a/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">State zoning framework.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">State zoning framework</quotedText>” means the State legislation or State agency and department procedures, or such legislation or procedures in an insular area of the United States, enabling local planning and zoning authorities and establishing and guiding related policies and programs.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s107/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Guidelines on State and Local Zoning Frameworks.—</heading> <paragraph identifier="/us/sComp/119/101/tI/s107/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Not later than 3 years after the date of enactment of this Act, the Assistant Secretary shall publish documents outlining guidelines and best practices to support production of adequate housing to meet the needs of communities and provide housing opportunities for individuals at every income level across communities with respect to—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s107/b/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">State zoning frameworks; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s107/b/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">local zoning frameworks.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Consultation; public comment.—</heading><chapeau style="-uslm-dtd:text">During the 2-year period beginning on the date of enactment of this Act, in developing the guidelines and best practices required under paragraph (1), the Assistant Secretary shall—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s107/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">publish draft guidelines and best practices in the Federal Register for public comment; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s107/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">establish a task force for the purpose of providing consultation to draft the guidelines and best practices published under subparagraph (A), the members of which shall include—</chapeau> <clause identifier="/us/sComp/119/101/tI/s107/b/2/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">urban planners and architects;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/2/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">housing developers, including affordable and market-rate housing developers, manufactured housing developers, cooperative housing developers, and other business interests;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/2/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">community engagement experts and community members impacted by zoning decisions;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/2/B/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">public housing agencies and transit authorities;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/2/B/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">members of local zoning and planning boards and local and regional transportation planning organizations;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/2/B/vi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vi">(vi) </num><content style="-uslm-dtd:text">State officials responsible for housing or land use, including members of State zoning boards of appeals;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/2/B/vii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vii">(vii) </num><content style="-uslm-dtd:text">academic researchers; and</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/2/B/viii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="viii">(viii) </num><content style="-uslm-dtd:text">home builders.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Contents.—</heading><chapeau style="-uslm-dtd:text">The guidelines and best practices required under paragraph (1) shall—</chapeau> <subparagraph identifier="/us/sComp/119/101/tI/s107/b/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">with respect to State zoning frameworks, outline potential models for updated State enabling legislation or State agency and department procedures;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s107/b/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">include recommendations regarding—</chapeau> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the reduction or elimination of parking minimums;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the increase in maximum floor area ratio requirements and maximum building heights and the reduction in minimum lot sizes and set-back requirements;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">the elimination of restrictions against accessory dwelling units;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">increasing by-right uses, including duplex, triplex, or quadplex buildings, across cities or metropolitan areas;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">mechanisms, including proximity to transit, to determine the appropriate scope for rezoning and ensure development that does not disproportionately burden residents of economically distressed areas;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/vi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vi">(vi) </num><chapeau style="-uslm-dtd:text">provisions regarding review of by-right development proposals to streamline review and reduce uncertainty, including—</chapeau> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/B/vi/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">nondiscretionary, ministerial review; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/B/vi/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">entitlement and design review processes;</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/vii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vii">(vii) </num><content style="-uslm-dtd:text">the reduction of obstacles, regulatory or otherwise, to a range of housing types at all levels of affordability, including manufactured and modular housing;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/viii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="viii">(viii) </num><content style="-uslm-dtd:text">State model zoning regulations for directing local reforms, including mechanisms to encourage adoption;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/ix" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ix">(ix) </num><content style="-uslm-dtd:text">provisions to encourage transit-oriented development, including increased permissible units per structure and reduced minimum lot sizes near existing or planned public transit stations;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/x" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="x">(x) </num><content style="-uslm-dtd:text">potential reforms to strengthen the public engagement process;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/xi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="xi">(xi) </num><content style="-uslm-dtd:text">reforms to protest petition statutes;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/xii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="xii">(xii) </num><content style="-uslm-dtd:text">the standardization, reduction, or elimination of impact fees;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/xiii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="xiii">(xiii) </num><content style="-uslm-dtd:text">cost-effective and appropriate building codes;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/xiv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="xiv">(xiv) </num><content style="-uslm-dtd:text">models for community benefit agreements;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/xv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="xv">(xv) </num><content style="-uslm-dtd:text">mechanisms to preserve affordability, limit disruption of low-income communities, and prevent displacement of existing residents;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/xvi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="xvi">(xvi) </num><chapeau style="-uslm-dtd:text">with respect to State zoning frameworks—</chapeau> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/B/xvi/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">State model codes for directing local reforms, including mechanisms to encourage adoption;</content> </subclause> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/B/xvi/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><chapeau style="-uslm-dtd:text">a model for a State zoning appeals process, which would—</chapeau> <item identifier="/us/sComp/119/101/tI/s107/b/3/B/xvi/II/aa" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">create a process for developers or builders requesting a variance, conditional use, special permit, zoning district change, similar discretionary permit, or otherwise petitioning a local zoning or planning board for a project, including a State-defined amount of affordable housing to appeal a rejection to a State body or regional body empowered by the State; and</content> </item> <item identifier="/us/sComp/119/101/tI/s107/b/3/B/xvi/II/bb" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">establish qualifications for communities to be exempted from the appeals process based on their available stock of affordable housing; and</content> </item> </subclause> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/B/xvi/III" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">streamlining of State environmental review policies;</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/xvii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="xvii">(xvii) </num><chapeau style="-uslm-dtd:text">with respect to local zoning frameworks—</chapeau> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/B/xvii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">the simplification and standardization of existing zoning codes;</content> </subclause> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/B/xvii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">maximum review timelines;</content> </subclause> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/B/xvii/III" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">best practices for the disposition of land owned by local governments for affordable housing development;</content> </subclause> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/B/xvii/IV" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="IV">(IV) </num><content style="-uslm-dtd:text">differentiations between best practices for rural, suburban, and urban communities, and communities with different levels of density or population distribution; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/B/xvii/V" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="V">(V) </num><content style="-uslm-dtd:text">streamlining of local environmental review policies; and</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/B/xviii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="xviii">(xviii) </num><content style="-uslm-dtd:text">other land use measures that promote access to new housing opportunities identified by the Secretary; and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tI/s107/b/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">consider—</chapeau> <clause identifier="/us/sComp/119/101/tI/s107/b/3/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the effects of adopting any recommendation on eligibility for Federal discretionary grants and tax credits for the purpose of housing or community development;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">coordination between infrastructure investments and housing planning;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/C/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">local housing needs, including ways to set and measure housing goals and targets;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/C/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">a range of affordability for rental units, with a prioritization of units attainable to extremely low-, low-, and moderate-income residents;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/C/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">a range of affordability for homeownership;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/C/vi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vi">(vi) </num><content style="-uslm-dtd:text">accountability measures;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/C/vii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vii">(vii) </num><content style="-uslm-dtd:text">the long-term cost to residents and businesses if more housing is not constructed;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/C/viii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="viii">(viii) </num><content style="-uslm-dtd:text">barriers to individuals seeking to access affordable housing in growing communities and communities with economic opportunity;</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/C/ix" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ix">(ix) </num><chapeau style="-uslm-dtd:text">with respect to State zoning frameworks—</chapeau> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/C/ix/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">distinctions between States providing constitutional or statutory home rule authority to municipalities and States operating under the Dillon Rule, as articulated in Hunter v. Pittsburgh, 207 U.S. 161 (1907); and</content> </subclause> <subclause identifier="/us/sComp/119/101/tI/s107/b/3/C/ix/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">Statewide mechanisms to preserve existing affordability over the long term, including support for land banks and community land trusts;</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/C/x" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="x">(x) </num><content style="-uslm-dtd:text">public comments elicited under paragraph (2)(A); and</content> </clause> <clause identifier="/us/sComp/119/101/tI/s107/b/3/C/xi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="xi">(xi) </num><content style="-uslm-dtd:text">other considerations, as identified by the Assistant Secretary.</content> </clause> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s107/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Abolishment of the Regulatory Barriers Clearinghouse.—</heading> <paragraph identifier="/us/sComp/119/101/tI/s107/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Regulatory Barriers Clearinghouse established pursuant to section 1205 of the Housing and Community Development Act of 1992 (42 U.S.C. 12705d) is abolished.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Repeal.—</heading><content style="-uslm-dtd:text">Section 1205 of the Housing and Community Development Act of 1992 (42 U.S.C. 12705d) is repealed.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s107/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Reporting.—</heading><chapeau style="-uslm-dtd:text">Not later than 5 years after the date on which the Assistant Secretary publishes the final guidelines and best practices for State and local zoning frameworks under this section, the Assistant Secretary shall submit to Congress a report describing—</chapeau> <paragraph identifier="/us/sComp/119/101/tI/s107/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the States that have adopted recommendations from the guidelines and best practices, pursuant to subsection (b);</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">a summary of the localities that have adopted recommendations from the guidelines and best practices, pursuant to subsection (b);</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/d/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">a list of States that adopted a State zoning framework;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/d/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">a summary of the modifications that each State has made in their State zoning framework;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/d/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">a general summary of the types of updates localities have made to their local zoning framework;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/d/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">with respect to the States that have adopted a State zoning framework or recommendations from the guidelines and best practices, the effect of such adoptions; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tI/s107/d/7" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">(7) </num><content style="-uslm-dtd:text">a summary of any recommendations that were routinely not adopted by States or by localities.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tI/s107/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Rule of Construction.—</heading><content style="-uslm-dtd:text">Nothing in this section may be construed to permit the Department of Housing and Urban Development to take an adverse action against or fail to provide otherwise offered actions or services for any State or locality if the State or locality declines to adopt a guideline or best practice under subsection (b).</content> </subsection> </section> <num style="-uslm-dtd:enum" value="II">TITLE II—</num><heading style="-uslm-dtd:header">BUILDING MORE IN AMERICA </heading> <section identifier="/us/sComp/119/101/tII/s201" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="201">SEC. 201. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s19501">42 U.S.C. 19501</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">INCREASING HOUSING IN OPPORTUNITY ZONES. </heading> <subsection identifier="/us/sComp/119/101/tII/s201/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Covered Grant Defined.—</heading><content style="-uslm-dtd:text">In this section, the term “<quotedText style="-uslm-dtd:quote">covered grant</quotedText>” means any competitive grant relating to the construction, modification, rehabilitation, or preservation of housing, as determined by the Secretary of Housing and Urban Development.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s201/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Priority.—</heading><content style="-uslm-dtd:text">When awarding a covered grant, the Secretary of Housing and Urban Development may give additional weight to applicants with proposed activities or projects that are located in or substantially and directly benefit a community designated as a qualified opportunity zone under section 1400Z-1 of the Internal Revenue Code of 1986.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tII/s202" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="202">SEC. 202. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s19502">42 U.S.C. 19502</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">WHOLE-HOME REPAIRS ACT. </heading> <subsection identifier="/us/sComp/119/101/tII/s202/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s202/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Affordable unit.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">affordable unit</quotedText>” means a unit for which the monthly rental payment is not more than 30 percent of the gross income of an individual earning at or below 80 percent of the area median income, as defined by the Secretary.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Assisted unit.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">assisted unit</quotedText>” means a unit that undergoes repair or rehabilitation work through a whole-home repairs program administered by an implementing organization under this section.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Eligible home-owner.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">eligible home-owner</quotedText>” means a home-owner—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">with a household income that—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/a/3/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">is not more than 80 percent of the area median income; or</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/a/3/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">meets the income eligibility requirements for receiving assistance or benefits under a specified program, as defined in paragraph (11); and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">who is—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/a/3/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">an owner of record as evidenced by a publicly recorded deed, or other document recorded by the Bureau of Indian Affairs, and occupies the home on which repairs are to be conducted as their principal residence;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/a/3/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">an owner-occupant of the manufactured home on which repairs are to be conducted;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/a/3/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">an owner-occupant of the cooperative housing unit on which repairs are to be conducted; or</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/a/3/B/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">an owner who can demonstrate an ownership interest in the property, or trust land leasehold, on which repairs are to be conducted, including a person who has inherited an interest in that property.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Eligible landlord.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">eligible landlord</quotedText>” means an individual—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/4/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">who owns, as determined by the relevant implementing organization, fewer than 10 eligible rental properties, with a majority of affordable units and not more than 25 total units, operated as primary residences in which a majority ownership interest is held by the individual, the spouse of the individual, or the dependent children of the individual, or any closely held legal entity controlled by the individual, the spouse of the individual, or the dependent children of the individual, either individually or collectively; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/4/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">who agrees to the provisions described in subsection (b)(3).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Eligible rental property.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">eligible rental property</quotedText>” means a residential property that—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/5/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">is leased, or offered exclusively for lease, as a primary residence by an eligible landlord; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/5/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">includes affordable units.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Forgivable loan.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">forgivable loan</quotedText>” means a loan—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/6/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">made to an eligible landlord;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/6/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">that is secured by a lien recorded against a residential property; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/6/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">that may be forgiven by the implementing organization not later than the date that is 3 years after the completion of the repairs if the eligible landlord has maintained compliance with the loan agreement described in subsection (b)(3).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/7" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">Implementing organization.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">implementing organization</quotedText>”—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/7/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">means a unit of general local government or a State that—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/a/7/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">will administer a whole-home repairs program through an agency, department, or other entity; or</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/a/7/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">enters into agreements with 1 or more local governments, Indian tribes, municipal authorities, other governmental authorities, including a tribally designated housing entity, or qualified nonprofit organizations, to administer a whole-home repairs program as a subrecipient; and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/7/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">does not include a redundant entity in a jurisdiction already served by a grantee under subsection (b).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/8" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">(8) </num><heading style="-uslm-dtd:header">Indian tribe.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Indian tribe</quotedText>” has the meaning given the term in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4103).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/9" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="9">(9) </num><heading style="-uslm-dtd:header">Qualified nonprofit.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">qualified nonprofit</quotedText>” means a nonprofit organization that—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/9/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">has received funding, as a recipient or subrecipient, through—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/a/9/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the Community Development Block Grant program under title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.);</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/a/9/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the HOME Investment Partnerships program under subtitle A of title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12741 et seq.);</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/a/9/A/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">the Lead-Based Paint Hazard Reduction grant program under section 1011 of the Residential Lead-Based Paint Hazard Reduction Act of 1992 (42 U.S.C. 4852), a grant under the Healthy Homes Initiative administered by the Secretary pursuant to sections 501 and 502 of the Housing and Urban Development Act of 1970 (12 U.S.C. 1701z-1, 1701z-2), or a grant under the Older Adult Home Modification Grants Program authorized under the Consolidated Appropriations Act, 2024 (Public Law 118-42), or any successor Act, to make safety and functional home modification repairs and renovations to meet the needs of low-income seniors to enable them to remain in their primary residence;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/a/9/A/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">the Self-Help and Assisted Homeownership Opportunity program authorized under section 11 of the Housing Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note);</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/a/9/A/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">a rural housing program under title V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.); or</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/a/9/A/vi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vi">(vi) </num><content style="-uslm-dtd:text">the Neighborhood Reinvestment Corporation established under the Neighborhood Reinvestment Corporation Act (42 U.S.C. 8101 et seq.);</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/9/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">has coordinated, performed, or otherwise been engaged in weatherization, lead remediation, or home-repair work for not less than 2 years;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/9/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">has been certified by the Environmental Protection Agency, or by a State authorized by the Environmental Protection Agency to administer a certification program, as—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/a/9/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">eligible to carry out activities under the lead renovation, repair, and painting program under section 402(c) or 404 of the Toxic Substances Control Act (15 U.S.C. 2682(c), 2684); or</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/a/9/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">a Home Certification Organization under the Energy Star program established by section 324A of the Energy Policy and Conservation Act (42 U.S.C. 6294a) or the WaterSense program under section 324B of that Act (42 U.S.C. 6294b), or recognized or otherwise approved by the Environmental Protection Agency as a Home Certification Organization under either of those programs; or</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/9/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">is a community development financial institution, as defined in section 103 of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4702).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/10" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="10">(10) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/11" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="11">(11) </num><heading style="-uslm-dtd:header">Specified program.—</heading><chapeau style="-uslm-dtd:text">For purposes of paragraph (3)(A)(ii), the term “<quotedText style="-uslm-dtd:quote">specified program</quotedText>” means any of the following:</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/11/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">The Medicaid program established under title XIX of the Social Security Act (42 U.S.C. 1396 et seq.).</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/11/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">The State Children’s Health Insurance Program established under title XXI of the Social Security Act (42 U.S.C. 1397aa et seq.).</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/11/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">The supplemental security income benefits program established under title XVI of the Social Security Act (42 U.S.C. 1381 et seq.).</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/11/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">The supplemental nutrition assistance program established under the Food and Nutrition Act of 2008 (7 U.S.C. 2011 et seq.).</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/11/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">The temporary assistance for needy families program established under part A of title IV of the Social Security Act (42 U.S.C. 601 et seq.).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/12" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="12">(12) </num><heading style="-uslm-dtd:header">State.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">State</quotedText>” means—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/12/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">each State of the United States;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/12/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the District of Columbia;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/12/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">the Commonwealth of Puerto Rico;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/12/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">any territory or possession of the United States; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/12/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">an Indian tribe.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/13" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="13">(13) </num><heading style="-uslm-dtd:header">Tribally designated housing entity.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">tribally designated housing entity</quotedText>” has the meaning given the term in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4103).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/a/14" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="14">(14) </num><heading style="-uslm-dtd:header">Whole-home repairs.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">whole-home repairs</quotedText>” means modifications, repairs, or updates to home-owner or renter-occupied units to address—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/14/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">physical and sensory accessibility for individuals with disabilities and older adults, such as bathroom and kitchen modifications, installation of grab bars and handrails, guards and guardrails, lifting devices, ramp additions or repairs, sidewalk addition or repair, or doorway or hallway widening;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/14/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">habitability and safety concerns, such as repairs needed to ensure residential units are fit for human habitation and free from defective conditions or health and safety hazards; or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/a/14/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">energy and water efficiency, resilience, and weatherization.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s202/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Pilot Program.—</heading> <paragraph identifier="/us/sComp/119/101/tII/s202/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Establishment.—</heading><content style="-uslm-dtd:text">There is authorized a pilot program to provide grants to implementing organizations to administer a whole-home repairs program for eligible home-owners and eligible landlords.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Use of funds.—</heading><chapeau style="-uslm-dtd:text">An implementing organization that receives a grant from appropriated funds made available for this subsection—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">shall provide grants to eligible home-owners to implement whole-home repairs not covered by other Federal home repair programs up to a maximum amount per unit, which maximum amount should—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/b/2/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">reflect local construction costs and the level of repairs needed in each unit; and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/2/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">be calculated and approved by the Secretary;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">shall provide loans, which may be forgivable, to eligible landlords to implement whole-home repairs not covered by other Federal home repair programs for individual affordable units, public and common use areas within the property, and common structural elements up to a maximum amount per unit, area, or element, as applicable, which maximum amount should—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/b/2/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">reflect local construction costs; and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/2/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">be calculated and approved by the Secretary;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">shall evaluate, or provide assistance to eligible home-owners and eligible landlords to evaluate, whole-home repair program funds provided under this subsection with Federal, State, Tribal, and local home repair programs to provide the greatest benefit to the greatest number of eligible landlords and eligible home-owners and avoid duplication of benefits and redundancies for the same home repairs;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/2/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><chapeau style="-uslm-dtd:text">shall require that—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/b/2/D/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">all repairs funded or facilitated through an award under this subsection have been completed;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/2/D/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">if repairs are not completed and the plan for whole-home repairs is not updated to reflect the new scope of work, that the loan or grant is repaid on a prorated basis based on completed work; and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/2/D/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">any unused grant or loan balance is returned to the implementing organization, and is reused by the implementing organization for a new whole-home repair grant or loan under this subsection;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/2/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">may use not more than 5 percent of the awarded funds to carry out related functions, including workforce training for home repair professions, which shall be related to efforts to increase the number of home repairs performed and approved by the Secretary;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/2/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">may use not more than 10 percent of the awarded funds for administrative expenses;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/2/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">shall comply with Federal accessibility requirements and standards under applicable Federal fair housing and civil rights laws and regulations, including section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/2/H" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">(H) </num><content style="-uslm-dtd:text">shall ensure that rental properties assisted under subparagraph (B) shall be treated as projects assisted under title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Loan agreement.—</heading><chapeau style="-uslm-dtd:text">In a loan agreement with an eligible landlord under this subsection, an implementing organization shall include provisions establishing that the eligible landlord shall, for each eligible rental property for which a loan is used to fund repairs under this subsection—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">comply with Federal accessibility requirements and standards under applicable Federal fair housing and civil rights laws and regulations, including section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B)</num><clause class="inline" identifier="/us/sComp/119/101/tII/s202/b/3/B/i" style="-uslm-dtd:clause" styleType="OLC"><num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">if the landlord is renting the assisted units available in the eligible rental property to tenants receiving tenant-based rental assistance under section 8(o) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)), under another tenant-based rental assistance program administered by the Secretary or the Secretary of Agriculture, or under a tenant-based rental subsidy provided by a State or local government, comply with the program requirements under the relevant tenant-based rental assistance program; or</content></clause> <clause identifier="/us/sComp/119/101/tII/s202/b/3/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><chapeau style="-uslm-dtd:text">if the eligible landlord is not renting to tenants receiving rental-based assistance as described in clause (i)—</chapeau> <subclause identifier="/us/sComp/119/101/tII/s202/b/3/B/ii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I)</num><item class="inline" identifier="/us/sComp/119/101/tII/s202/b/3/B/ii/I/aa" style="-uslm-dtd:item" styleType="OLC"><num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">offer to extend the lease of current tenants on current terms, other than the terms described in subclause (iv) for not less than 3 years beginning after the completion of the repairs, unless the lease is terminated due to failure to pay rent, performance of an illegal act within the rental unit, or a violation of an obligation of tenancy that the tenants failed to correct after notice; and</content></item> <item identifier="/us/sComp/119/101/tII/s202/b/3/B/ii/I/bb" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">if the tenant of an assisted unit moves out of the assisted unit at any point in the 3-year period following the loan agreement, maintain the unit as an affordable unit for the remainder of the 3-year period;</content> </item> </subclause> <subclause identifier="/us/sComp/119/101/tII/s202/b/3/B/ii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">provide documentation verifying that the property, upon completion of approved renovations, has met all applicable State and local housing and building codes;</content> </subclause> <subclause identifier="/us/sComp/119/101/tII/s202/b/3/B/ii/III" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">attest that the landlord has no known serious violations of renter protections that have resulted in fines, penalties, or judgments during the preceding 10 years; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tII/s202/b/3/B/ii/IV" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="IV">(IV) </num><content style="-uslm-dtd:text">cap annual rent increases for each assisted unit at 5 percent of base rent or at the rate of inflation, whichever is lower, for not less than 3 years beginning after the completion of the repairs.</content> </subclause> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/b/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Application.—</heading> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/4/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">An implementing organization desiring an award under this subsection shall submit to the Secretary an application that includes—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/b/4/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the geographic scope of the whole-home repairs program to be administered by the implementing organization, including the plan to address need in any rural, Tribal, suburban, or urban area within a jurisdiction;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/4/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">a plan for selecting subrecipients, if applicable;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/4/A/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">a description of how the implementing organization plans to execute the coordination of Federal, State, Tribal, and local home repair programs, including programs administered by the Department of Energy, the Department of the Interior, the Department of Veteran Affairs, or the Department of Agriculture, to increase efficiency and reduce redundancy;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/4/A/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">available data on the need for affordable and quality housing within the geographic scope of the whole-home repairs program, and any plans to preserve affordability through the term of the award;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/4/A/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">a description of how the implementing organization plans to process and verify applications for grants from eligible home-owners and applications for loans from eligible landlords; and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/4/A/vi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vi">(vi) </num><content style="-uslm-dtd:text">such other information as the Secretary requires to determine the ability of an applicant to carry out a program under this subsection.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/4/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Considerations.—</heading><chapeau style="-uslm-dtd:text">In making awards under this subsection, the Secretary shall—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/b/4/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">with respect to applications submitted by States other than the District of Columbia and the territories of the United States, prioritize those applications with a demonstrated plan to—</chapeau> <subclause identifier="/us/sComp/119/101/tII/s202/b/4/B/i/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">make a good-faith effort to implement the pilot program in every jurisdiction; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tII/s202/b/4/B/i/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">provide nonmetropolitan areas, or subrecipients serving non-metropolitan areas if applicable, with a share of total funds commensurate with their population;</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/4/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">aim to select applicants so that the awardees collectively span diverse geographies, with an intent to understand the impact of the pilot program under this subsection in urban, suburban, rural, and Tribal settings; and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/4/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">not disqualify implementing organizations that were awarded grants under the pilot program in prior application cycles.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/b/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Program information.—</heading><content style="-uslm-dtd:text">The Secretary shall make available to grant recipients under this subsection information regarding existing Federal programs for which grant recipients may coordinate or provide assistance in coordinating applications for those programs in accordance with paragraph (2)(C).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/b/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Grant number.—</heading><chapeau style="-uslm-dtd:text">In each year in which an award is made under this subsection, the Secretary shall award assistance to—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/6/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">not less than 2, and not more than 10, implementing organizations, as application numbers and funding permit; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/6/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">not more than 1 implementing organization in any State.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/b/7" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">Loans that are not forgiven.—</heading><content style="-uslm-dtd:text">If a loan made by an implementing organization under paragraph (2)(B) is not forgiven, the loan repayment funds shall be reused by the implementing organization for a new whole-home repair grant or loan under this subsection, which shall remain subject to the original terms of the assistance awarded under this subsection.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/b/8" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">(8) </num><heading style="-uslm-dtd:header">Supplement, not supplant.—</heading><content style="-uslm-dtd:text">Amounts awarded under this subsection to implementing organizations shall supplement, not supplant, other Federal, State, Tribal, and local funds made available to those entities.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/b/9" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="9">(9) </num><heading style="-uslm-dtd:header">Streamlining program delivery and ensuring efficiency.—</heading><chapeau style="-uslm-dtd:text">To the extent possible, in carrying out the pilot program under this subsection, the Secretary shall—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/9/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">endeavor to improve efficiency of service delivery, as well as the experience of and impact on the taxpayer, by encouraging programmatic collaboration and information sharing across Federal, State, Tribal, and local programs for home repair or improvement, including programs administered by the Department of Agriculture, the Department of the Interior, the Department of Veterans Affairs, or the Department of Energy; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/9/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">enhance collaboration and cross-agency streamlining efforts that reduce the burden of multiple income verification processes and applications on the eligible home-owner, the eligible landlord, the implementing organization, and the Federal Government, including by establishing assistance application procedures for income eligibility under this subsection that recognize income eligibility determinations for assistance using any of the criteria under subsection (a)(3)(A) that have been used for assistance applications during the 1-year period preceding the date on which an eligible home-owner or eligible landlord applies for assistance under this subsection.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/b/10" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="10">(10) </num><heading style="-uslm-dtd:header">Reporting requirements.—</heading> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/10/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Annual report.—</heading><chapeau style="-uslm-dtd:text">An implementing organization that receives a grant under this subsection shall submit to the Secretary an annual report on initial funding that includes—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/b/10/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the number of units served, including reporting on both home-ownership and rental units, as well as accessible units;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/10/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the average cost per unit for modifications or repairs and the nature of those modifications or repairs, including reporting on accessibility in both home-ownership and rental units;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/10/A/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">the number of applications received, served, denied, or not completed, disaggregated by geographic area;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/10/A/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">the aggregated demographic data of grant recipients, which may include data on income range, urban, suburban, and rural residency, age, and racial and ethnic identity;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/10/A/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">the aggregated demographic data of loan recipients, which may include data on income range, urban, suburban, and rural residency, age, and racial and ethnic identity;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/10/A/vi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vi">(vi) </num><content style="-uslm-dtd:text">an affirmation that the implementation organization has complied with the applicable regulations, including compliance with Federal accessibility requirements;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/10/A/vii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vii">(vii) </num><chapeau style="-uslm-dtd:text">in the first year of receiving a grant, and as certified in subsequent reports, a comprehensive plan to prevent waste, fraud, and abuse in the administration of the pilot program, which shall include, at a minimum—</chapeau> <subclause identifier="/us/sComp/119/101/tII/s202/b/10/A/vii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">a policy enacted and enforced by the implementing organization to monitor ongoing expenditures under this subsection and ensure compliance with applicable regulations;</content> </subclause> <subclause identifier="/us/sComp/119/101/tII/s202/b/10/A/vii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">a policy enacted and enforced by the implementing organization to detect and deter fraudulent activity, including fraud occurring in individual projects and patterns of fraud by parties involved in the expenditure of funds under this subsection;</content> </subclause> <subclause identifier="/us/sComp/119/101/tII/s202/b/10/A/vii/III" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">a statement setting forth any violations detected by the implementing organization during the previous calendar year, including details about steps taken to achieve compliance and any remedial measures; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tII/s202/b/10/A/vii/IV" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="IV">(IV) </num><content style="-uslm-dtd:text">a certification by the chief executive or most senior compliance officer of the organization that the organization maintains sufficient staff and resources to effectively carry out the above-mentioned policies; and</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/10/A/viii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="viii">(viii) </num><content style="-uslm-dtd:text">such other information as the Secretary may require.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/10/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Reporting requirement alignment.—</heading><chapeau style="-uslm-dtd:text">To limit the costs of implementing the pilot program under this subsection, the Secretary shall endeavor, to the extent possible, to structure reporting requirements such that they align with the data reporting requirements in place for funding streams that implementing organizations are likely to use together with funding from this subsection, including the reporting requirements under—</chapeau> <clause identifier="/us/sComp/119/101/tII/s202/b/10/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the Community Development Block Grant program under title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.);</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/10/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the HOME Investment Partnerships program under subtitle A of title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12741 et seq.);</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/10/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">the Weatherization Assistance Program for low-income persons established under part A of title IV of the Energy Conservation and Production Act (42 U.S.C. 6861 et seq.); and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s202/b/10/B/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4101 et seq.).</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/10/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Pilot program period reports.—</heading><content style="-uslm-dtd:text">Not less frequently than twice during the period in which the pilot program established under this subsection operates, the Office of Inspector General of the Department of Housing and Urban Development shall complete an assessment of the implementation of measures to ensure the fair and legitimate use of the pilot program.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/10/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><heading style="-uslm-dtd:header">Summary to congress.—</heading><content style="-uslm-dtd:text">The Secretary shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives an annual report providing a summary of the data provided under subparagraphs (A) and (C) during the 1-year period preceding the report and all data previously provided under those subparagraphs.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/b/11" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="11">(11) </num><heading style="-uslm-dtd:header">Environmental review.—</heading><chapeau style="-uslm-dtd:text">A grant under this subsection shall be—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/11/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">treated as assistance for a special project for purposes of section 305(c) of the Multifamily Housing Property Disposition Reform Act of 1994 (42 U.S.C. 3547); and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s202/b/11/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">subject to the regulations promulgated by the Secretary to implement such section.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s202/b/12" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="12">(12) </num><heading style="-uslm-dtd:header">Termination.—</heading><content style="-uslm-dtd:text">The pilot program established under this subsection shall terminate on October 1, 2031.</content> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tII/s203" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="203">SEC. 203. </num><heading style="-uslm-dtd:header">COMMUNITY INVESTMENT AND PROSPERITY ACT. </heading> <subsection identifier="/us/sComp/119/101/tII/s203/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Revised Statutes.—</heading><content style="-uslm-dtd:text">The paragraph designated as the “Eleventh” of section 5136 of the Revised Statutes of the United States (12 U.S.C. 24) is amended, in the fifth sentence, by striking “<quotedText style="-uslm-dtd:quote">15</quotedText>” each place the term appears and inserting “<quotedText style="-uslm-dtd:quote">20</quotedText>”.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s203/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Federal Reserve Act.—</heading><content style="-uslm-dtd:text">Section 9(23) of the Federal Reserve Act (12 U.S.C. 338a) is amended, in the fifth sentence, by striking “<quotedText style="-uslm-dtd:quote">15</quotedText>” each place the term appears and inserting “<quotedText style="-uslm-dtd:quote">20</quotedText>”.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s203/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s24">12 U.S.C. 24 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Study.—</heading><chapeau style="-uslm-dtd:text">Not later than 2 years after the date of enactment of this section, and every 2 years thereafter, the Comptroller of the Currency and the Board of Governors of the Federal Reserve System shall each submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, a report, after consulting with the other agency in the development of such report, about public welfare investments that were made by associations under section 5136 of the Revised Statutes of the United States (12 U.S.C. 24) and State member banks under section 9(23) of the Federal Reserve Act (12 U.S.C. 338a) in the 2 previous calendar years, that—</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s203/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">identifies the number of such investments, broken down by—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s203/c/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">purpose;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s203/c/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">type;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s203/c/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">amount of assets of the association or State member bank that made the investment, using not fewer than 4 categories to describe the amount of assets of the associations and banks; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s203/c/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">State or other location;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s203/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">identifies the dollar amounts of such investments, broken down by—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s203/c/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">purpose;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s203/c/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">type;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s203/c/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">amount of assets of the association or State member bank that made the investment, using not fewer than 4 categories to describe the amount of assets of the associations and banks; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s203/c/2/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">State or other location; and</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s203/c/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><chapeau style="-uslm-dtd:text">for each type of public welfare investment identified under paragraphs (1) and (2), a description of the substantive and procedural requirements that apply to each type of investment made under—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s203/c/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in the case of a report by the Comptroller of the Currency, section 5136 of the Revised Statutes of the United States (12 U.S.C. 24); or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s203/c/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in the case of a report by the Board of Governors, section 9(23) of the Federal Reserve Act (12 U.S.C. 338a).</content> </subparagraph> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tII/s204" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="204">SEC. 204. </num><heading style="-uslm-dtd:header">ADDITION OF AFFORDABLE HOUSING CONSTRUCTION AS AN ELIGIBLE ACTIVITY. </heading> <subsection identifier="/us/sComp/119/101/tII/s204/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Eligible Activity.—</heading><chapeau style="-uslm-dtd:text">Section 105(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(a)), as amended by section 104 of this Act, is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s204/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (26), by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s204/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (27), by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s204/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="28">“(28) </num><content style="-uslm-dtd:text">the new construction of affordable housing, within the meaning given such term under section 215 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12745), and whichshall not exceed 20 percent of the amounts allocated to the recipient.”</content> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s204/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Low- and Moderate-income Requirement.—</heading><content style="-uslm-dtd:text">Section 105(c)(3) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(c)(3)) is amended by striking “<quotedText style="-uslm-dtd:quote">or rehabilitation</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">, rehabilitation, or new construction</quotedText>”.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s204/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s5305">42 U.S.C. 5305 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Applicability.—</heading><content style="-uslm-dtd:text">The amendments made by this section shall apply with respect only to amounts appropriated after the date of enactment of this Act.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tII/s205" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="205">SEC. 205. </num><heading style="-uslm-dtd:header">BETTER USE OF INTERGOVERNMENTAL AND LOCAL DEVELOPMENT (BUILD) HOUSING ACT. </heading> <subsection identifier="/us/sComp/119/101/tII/s205/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Designation of Environmental Review Procedure.—</heading><content style="-uslm-dtd:text">The Department of Housing and Urban Development Act (42 U.S.C. 3531 et seq.) is amended by inserting after section 12 (42 U.S.C. 3537a) the following:<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="13">“SEC. 13. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s3537b">42 U.S.C. 3537b</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">DESIGNATION OF ENVIRONMENTAL REVIEW PROCEDURE </heading> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Except as provided in subsection (b), the Secretary may, for purposes of environmental review, decision making, and action pursuant to the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.), and other provisions of law that further the purposes of such Act, designate the treatment of assistance administered by the Secretary as funds for a special project for purposes of section 305(c) of the Multifamily Housing Property Disposition Reform Act of 1994 (42 U.S.C. 3547).</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Exception.—</heading><content style="-uslm-dtd:text">The designation described in subsection (a) shall not apply to assistance for which a procedure for carrying out the responsibilities of the Secretary under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.), and other provisions of law that further the purposes of such Act, is otherwise specified in law.”</content> </subsection> </section></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s205/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Tribal Assumption of Environmental Review Obligations.—</heading><chapeau style="-uslm-dtd:text">Section 305(c) of the Multifamily Housing Property Disposition Reform Act of 1994 (42 U.S.C. 3547) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s205/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">State or unit of general local government</quotedText>” each place it appears and inserting “<quotedText style="-uslm-dtd:quote">State, Indian Tribe, or unit of general local government</quotedText>”;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s205/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (1)(C), in the heading, by striking “<quotedText style="-uslm-dtd:quote">State or unit of general local government</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">State, indian tribe, or unit of general local government</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s205/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Definition of indian tribe.—</heading><content style="-uslm-dtd:text">For purposes of this subsection, the term ‘<quotedText style="-uslm-dtd:quote">Indian Tribe</quotedText>’ means a federally recognized tribe, as defined in section 4(13)(B) of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4103(13)(B)).”</content> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s205/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s3537b">42 U.S.C. 3537b note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Implementation.—</heading> <paragraph identifier="/us/sComp/119/101/tII/s205/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Except as provided in paragraph (2), a designation of assistance under section 13 of the Department of Housing and Urban Development Act, as added by subsection (a), shall only apply with respect to funds appropriated after the date of enactment of this Act.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s205/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Exception.—</heading><content style="-uslm-dtd:text">If a grantee of assistance administered by the Secretary of Housing and Urban Development combines funds appropriated before and after the date of enactment of this Act to carry out a project, section 13 of the Department of and Urban Development Act, as added by subsection (a), shall not apply to that assistance.</content> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tII/s206" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="206">SEC. 206. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s19503">42 U.S.C. 19503</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">UNLOCKING HOUSING SUPPLY THROUGH STREAMLINED AND MODERNIZED REVIEWS ACT. </heading> <subsection identifier="/us/sComp/119/101/tII/s206/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s206/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Infill project.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">infill project</quotedText>” means a project that—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s206/a/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">occurs within the geographic limits of a municipality;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s206/a/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">is adequately served by existing utilities and public services as required under applicable law;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s206/a/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">is located on a site of previously disturbed land of not more than 5 acres and substantially surrounded by residential or commercial development;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s206/a/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">will repurpose a vacant or underutilized parcel of land, or a dilapidated or abandoned structure; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s206/a/1/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">will serve a residential or commercial purpose.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s206/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s206/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">NEPA Streamlining for HUD Housing-related Activities.—</heading> <paragraph identifier="/us/sComp/119/101/tII/s206/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall, in accordance with section 553 of title 5, United States Code, and section 103 of the National Environmental Policy Act of 1969 (42 U.S.C. 4333), expand and reclassify housing-related activities under the necessary administrative regulations as follows:</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s206/b/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">The following housing-related activities shall be subject to regulations equivalent or substantially similar to the regulations entitled “exempt activities” as set forth in section 58.34 of title 24, Code of Federal Regulations, as in effect on January 1, 2025:</chapeau> <clause identifier="/us/sComp/119/101/tII/s206/b/1/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">Tenant-based rental assistance.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">Supportive services, including health care, housing services, permanent housing placement, day care, nutritional services, short-term payments for rent, mortgage, or utility costs, and assistance in gaining access to Federal Government and State and local government benefits and services.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/A/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">Operating costs, including maintenance, security, operation, utilities, furnishings, equipment, supplies, staff training, and recruitment and other incidental costs.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/A/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">Economic development activities, including equipment purchases, inventory financing, interest subsidies, operating expenses, and similar costs not associated with construction or expansion of existing operations.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/A/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">Activities to assist home-buyers in the purchase of existing dwelling units or dwelling units under construction, including closing costs and down payment assistance, interest rate buydowns, and similar activities that result in the transfer of title.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/A/vi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vi">(vi) </num><content style="-uslm-dtd:text">Affordable housing predevelopment costs related to obtaining site options, project financing, administrative costs and fees for loan commitment, zoning approvals, and other related activities that do not have a physical impact.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/A/vii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vii">(vii) </num><content style="-uslm-dtd:text">Approval of supplemental assistance, including insurance or guarantee, to a project previously approved by the Secretary.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/A/viii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="viii">(viii) </num><content style="-uslm-dtd:text">Emergency home-owner or renter assistance for the repair or replacement of HVAC, hot water heaters, and other necessary existing utilities required under applicable law.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s206/b/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">The following housing-related activities shall be subject to regulations equivalent or substantially similar to the regulations entitled, (i) “categorical exclusions not subject to section 58.5” and (ii) “categorical exclusions not subject to the Federal laws and authorities cited in section 50.4” in section 58.35(b) and section 50.19, respectively of title 24, Code of Federal Regulations, as in effect on January 1, 2025, if such activities do not materially alter environmental conditions and do not materially exceed the original scope of the project:</chapeau> <clause identifier="/us/sComp/119/101/tII/s206/b/1/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">Acquisition, repair, improvement, reconstruction, or rehabilitation of public facilities and improvements (other than buildings) if the facilities and improvements are in place and will be retained in the same use without change in size or capacity of more than 20 percent, including replacement of water or sewer lines, reconstruction of curbs and sidewalks, and repaving of streets.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">Rehabilitation of 1-to-4 unit residential buildings, and existing housing-related infrastructure, such as repairs or rehabilitation of existing wells, septics, or utility lines that connect to that housing.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">New construction, development, demolition, acquisition, or disposition of up to 4 scattered site existing dwelling units where there is a maximum of 4 units on any 1 site.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/B/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">Acquisitions (including leasing) of, disposition of, or equity loans on an existing structure, or acquisition (including leasing) of vacant land if the structure or land acquired, financed, or disposed of will be retained for the same use.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s206/b/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">The following housing-related activities shall be subject to regulations equivalent or substantially similar to the regulations entitled, (i) “categorical exclusions subject to section 58.5” and (ii) “categorical exclusions subject to the Federal laws and authorities cited in section 50.4” in section 58.35(a) and section 50.20, respectively, of title 24, Code of Federal Regulations, as in effect on January 1, 2025, if such activities do not materially alter environmental conditions and do not materially exceed the original scope of the project:</chapeau> <clause identifier="/us/sComp/119/101/tII/s206/b/1/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">Acquisitions of open space or residential property, where such property will be retained for the same use or will be converted to open space to help residents relocate out of an area designated as a high-risk area by the Secretary.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><chapeau style="-uslm-dtd:text">Conversion of existing office buildings into residential development, subject to—</chapeau> <subclause identifier="/us/sComp/119/101/tII/s206/b/1/C/ii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">a maximum number of units to be determined by the Secretary; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tII/s206/b/1/C/ii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">a limitation on the change in building size of not more than 20 percent.</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/C/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">New construction, development, demolition, acquisition, or disposition of 5 to 15 dwelling units where there is a maximum of 15 units on any 1 site. The units can be 15 1-unit buildings or 1 15-unit building, or any combination in between.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/C/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">New construction, development, demolition, acquisition, or disposition of 15 or more housing units developed on scattered sites when there are not more than 15 housing units on any 1 site, and the sites are more than a set number of feet apart as determined by the Secretary.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/C/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">Rehabilitation of buildings and improvements in the case of a building for residential use with 5 to 15 units, if the density is not increased beyond 15 units and the land use is not changed.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/C/vi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vi">(vi) </num><content style="-uslm-dtd:text">Infill projects consisting of new construction, rehabilitation, or development of residential housing units.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s206/b/1/C/vii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vii">(vii) </num><chapeau style="-uslm-dtd:text">The voluntary acquisition of properties—</chapeau> <subclause identifier="/us/sComp/119/101/tII/s206/b/1/C/vii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><chapeau style="-uslm-dtd:text">located in—</chapeau> <item identifier="/us/sComp/119/101/tII/s206/b/1/C/vii/I/aa" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">a floodway;</content> </item> <item identifier="/us/sComp/119/101/tII/s206/b/1/C/vii/I/bb" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">a floodplain; or</content> </item> <item identifier="/us/sComp/119/101/tII/s206/b/1/C/vii/I/cc" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="cc">(cc) </num><content style="-uslm-dtd:text">any other area, clearly delineated by the grantee; and</content> </item> </subclause> <subclause identifier="/us/sComp/119/101/tII/s206/b/1/C/vii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">that have been impacted by a predictable environmental threat to the safety and well-being of program beneficiaries caused or exacerbated by a federally declared disaster.</content> </subclause> </clause> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s206/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Implementation.—</heading><chapeau style="-uslm-dtd:text">For purposes of implementing the streamlining of environmental review for housing-related activities under subsection (b), the agency actions carried out under that subsection—</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s206/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">shall only apply with respect to funds appropriated after the effective date of those actions; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s206/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">shall not apply with respect to a grantee that combines funds appropriated before and after the effective date of those actions to carry out a project.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s206/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">The Secretary shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives an annual report during the 5-year period beginning on the date that is 2 years after the date of enactment of this Act that provides a summary of findings of reductions in review times and administrative cost reduction, with a particular focus on the affordable housing sector, as a result of the actions set forth in this section, and any recommendations of the Secretary for future congressional action with respect to revising categorical exclusions or exemptions under title 24, Code of Federal Regulations.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tII/s207" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="207">SEC. 207. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s19504">42 U.S.C. 19504</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">GRANTS FOR PLANNING AND IMPLEMENTATION ASSOCIATED WITH AFFORDABLE HOUSING. </heading> <subsection identifier="/us/sComp/119/101/tII/s207/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s207/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Eligible entity.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">eligible entity</quotedText>” means—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s207/a/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a State, insular area, metropolitan city, or urban county, as those terms are defined in section 102 of the Housing and Community Development Act of 1974 (42 U.S.C. 5302); or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/a/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">a regional planning agency or consortia of regional planning agencies.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s207/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Housing plan.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">housing plan</quotedText>” means a plan to, with respect to an area within the jurisdiction of an eligible entity—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s207/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">increase the amount of available housing to meet the demand for such housing and any projected increase in the demand for such housing;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">increase the affordability of housing;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/a/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">increase the accessibility of housing for people with disabilities, including location-efficient housing;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/a/2/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">preserve or improve the quality of housing;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/a/2/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">reduce barriers to housing development; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/a/2/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">coordinate with transportation-related agencies.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s207/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Housing strategy.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">housing strategy</quotedText>” means a housing strategy required under section 105 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12705).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s207/a/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s207/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Establishment.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Secretary shall establish a program to award grants on a competitive basis to eligible entities to assist planning and implementation activities associated with affordable housing, except that such grant awards may not be used for construction, alteration, or repair work.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s207/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Use of Amounts.—</heading> <paragraph identifier="/us/sComp/119/101/tII/s207/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">By regional planning agencies.—</heading><chapeau style="-uslm-dtd:text">If an eligible entity that receives amounts under this section is an eligible entity described in subsection (a)(1)(B), the eligible entity shall use those amounts to assist planning activities with respect to affordable housing, including—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the development of housing plans;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the substantial improvement of State or local housing strategies;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">the development of new regulatory requirements and processes;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">updating zoning codes;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/1/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">increasing the capacity to conduct housing inspections;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/1/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">increasing the capacity to reduce barriers to housing supply elasticity and housing affordability;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/1/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">the development of local or regional plans for community development; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/1/H" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">(H) </num><chapeau style="-uslm-dtd:text">the substantial improvement of community development strategies, including strategies designed to—</chapeau> <clause identifier="/us/sComp/119/101/tII/s207/c/1/H/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">increase the availability of affordable housing and access to affordable housing;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s207/c/1/H/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">increase access to public transportation; and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s207/c/1/H/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">advance sustainable or location-efficient community development goals.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s207/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">By states, insular areas, metropolitan cities, and urban counties.—</heading><chapeau style="-uslm-dtd:text">If an eligible entity that receives amounts under this section is an eligible entity described in subsection (a)(1)(A), the eligible entity shall use those amounts to—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">implement and administer housing strategies and housing plans;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">implement and administer any plans to increase housing choice, address disparities in housing needs, and provide greater access to opportunity;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">fund any community investments that support goals identified in a housing strategy or housing plan;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/2/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">implement and administer regulatory requirements and processes with respect to reformed zoning codes;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/2/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">increase the capacity to conduct housing inspections;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/2/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">increase the capacity to reduce barriers to housing supply elasticity and housing affordability;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/2/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">implement and administer local or regional plans for community development; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s207/c/2/H" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">(H) </num><chapeau style="-uslm-dtd:text">fund any planning to increase—</chapeau> <clause identifier="/us/sComp/119/101/tII/s207/c/2/H/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the availability of affordable housing and access to affordable housing;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s207/c/2/H/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">access to public transportation; and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s207/c/2/H/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">any location-efficient community development goals.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s207/c/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Use for administrative costs.—</heading><content style="-uslm-dtd:text">A eligible entity that receives amounts under this section may not use more than 10 percent of those amounts for administrative costs.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s207/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Coordination.—</heading><content style="-uslm-dtd:text">To the extent practicable, the Secretary shall coordinate with the Administrator of the Federal Transit Administration in carrying out this section.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s207/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Expiration of Authority.—</heading><content style="-uslm-dtd:text">After the expiration of the 5-year period beginning on the date of enactment of this Act, the Secretary may not newly establish a program as described in this section.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s207/f" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Sunset.—</heading><content style="-uslm-dtd:text">The program established under this section shall terminate on the date that is 5 years after the date of enactment of this Act.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tII/s208" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="208">SEC. 208. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s19505">42 U.S.C. 19505</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">INNOVATION FUND. </heading> <subsection identifier="/us/sComp/119/101/tII/s208/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s208/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Attainable housing.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">attainable housing</quotedText>” means housing that serves households earning not more than 120 percent of the area median income, if the majority of the housing units are affordable to households earning not more than 60 percent of the area median income.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s208/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Eligible entity.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">eligible entity</quotedText>” means—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s208/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a metropolitan city or urban county, as those terms are defined in section 102 of the Housing and Community Development Act of 1974 (42 U.S.C. 5302), that has demonstrated an objective improvement in housing supply growth, as determined by the Secretary, whose methodology for determining such growth is published in the Federal Register to allow for public comment not less than 90 days before the date on which the notice of funding opportunity is made available; or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s208/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">a unit of general local government or an Indian tribe, as those terms are defined in section 102 of the Housing and Community Development Act of 1974 (42 U.S.C. 5302), that has demonstrated an objective improvement in housing supply growth, as determined by the Secretary, whose methodology for determining such improvement is published in the Federal Register to allow for public comment not less than 90 days before the date on which the notice of funding opportunity is made available.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s208/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s208/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Establishment of a Grant Program.—</heading> <paragraph identifier="/us/sComp/119/101/tII/s208/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Establishment.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Secretary shall establish a program to award grants on a competitive basis to eligible entities that have increased their local housing supply.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s208/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">List of eligible entities.—</heading><content style="-uslm-dtd:text">The Secretary shall make a list of eligible entities publicly available on the website of the Department of Housing and Urban Development.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s208/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Eligible purposes.—</heading><chapeau style="-uslm-dtd:text">An eligible entity receiving a grant under this section may use funds to—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s208/b/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">carry out any of the activities described in section 105 of the Housing and Community Development Act of 1974 (42 U.S.C. 5305);</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s208/b/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">carry out any of the activities permitted under the Local and Regional Project Assistance Program established under section 6702 of title 49, United States Code; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s208/b/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">carry out initiatives of the eligible entity that facilitate the expansion of the supply of attainable housing and that supplement initiatives the eligible entity has carried out, or is in the process of carrying out, as specified in the application submitted under paragraph (4).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s208/b/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Application.—</heading> <subparagraph identifier="/us/sComp/119/101/tII/s208/b/4/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">An eligible entity seeking a grant under this section shall submit to the Secretary an application that provides—</chapeau> <clause identifier="/us/sComp/119/101/tII/s208/b/4/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">a description of each purpose for which the eligible entity will use the grant, and an attestation that the grant will be used only for 1 or more eligible purposes described in paragraph (3);</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><chapeau style="-uslm-dtd:text">data on characteristics of increased housing supply during the 3-year period ending on the date on which the application is submitted, which may include whether such housing—</chapeau> <subclause identifier="/us/sComp/119/101/tII/s208/b/4/A/ii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">serves households at a range of income levels; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tII/s208/b/4/A/ii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">has improved the quality and affordability of housing in the jurisdiction of the eligible entity;</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/A/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">a description of how each eligible purpose described in clause (i) may address a community need or advance an objective, or an aspect of an objective, included in the comprehensive housing affordability strategy and community development plan of the eligible entity under part 91 of title 24, Code of Federal Regulations, or any successor regulation (commonly referred to as a “consolidated plan”); and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/A/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">a description of how the eligible entity has carried out, or is in the process of carrying out, initiatives that facilitate the expansion of the supply of housing.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s208/b/4/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Initiatives.—</heading><chapeau style="-uslm-dtd:text">Initiatives that meet the criteria described in paragraph (3)(C) include, but shall not be limited to—</chapeau> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">increasing by-right uses, including duplex, triplex, quadplex, and multifamily buildings, in areas of opportunity;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">revising or eliminating off-street parking requirements to reduce the cost of housing production;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">revising minimum lot size requirements, floor area ratio requirements, set-back requirements, building heights, and bans or limits on construction that allow for denser and more affordable development;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">instituting incentives to promote dense development for communities where increased density is needed;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">passing zoning overlays or other ordinances that enable the development of mixed-income housing;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/vi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vi">(vi) </num><content style="-uslm-dtd:text">streamlining regulatory requirements and shortening processes, increasing code enforcement and permitting capacity, reforming zoning codes, or other initiatives that reduce barriers to increasing housing supply and affordability;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/vii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vii">(vii) </num><content style="-uslm-dtd:text">eliminating restrictions against accessory dwelling units and expanding their by-right use;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/viii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="viii">(viii) </num><content style="-uslm-dtd:text">using local tax incentives or public financing to promote development of attainable housing;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/ix" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ix">(ix) </num><content style="-uslm-dtd:text">streamlining environmental regulations;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/x" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="x">(x) </num><content style="-uslm-dtd:text">eliminating unnecessary manufactured-housing or cooperative housing regulations and restrictions;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/xi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="xi">(xi) </num><content style="-uslm-dtd:text">minimizing the impact of overburdensome energy and water efficiency standards on housing costs; and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/4/B/xii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="xii">(xii) </num><content style="-uslm-dtd:text">other activities that reduce the cost of construction, as determined by the Secretary.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s208/b/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Grants.—</heading> <subparagraph identifier="/us/sComp/119/101/tII/s208/b/5/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary shall make not fewer than 25 grants on an annual basis (unless amounts appropriated to provide grant amounts consistent with subsection (b) are insufficient, in which case fewer grants may be awarded), with strong consideration of different geographical areas and a relatively even spread of rural, suburban, and urban communities.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s208/b/5/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Limitations on awards.—</heading><chapeau style="-uslm-dtd:text">No grant awarded under this paragraph may be—</chapeau> <clause identifier="/us/sComp/119/101/tII/s208/b/5/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">more than $10,000,000; or</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/5/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">less than $250,000.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s208/b/5/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Priority.—</heading><chapeau style="-uslm-dtd:text">When awarding grants under this paragraph, the Secretary shall give priority to an eligible entity that has—</chapeau> <clause identifier="/us/sComp/119/101/tII/s208/b/5/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">demonstrated the use of innovative policies, interventions, or programs for increasing housing supply; and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s208/b/5/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">demonstrated a marked improvement in housing supply growth, as needed.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s208/b/5/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><heading style="-uslm-dtd:header">Grant administration and terms.—</heading><content style="-uslm-dtd:text">Projects assisted under this section for activities described in sector 23 of the North American Industry Classification System shall be treated as projects assisted under the Community Development Block Grant program under title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.).</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s208/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Rules of Construction.—</heading><chapeau style="-uslm-dtd:text">Nothing in this section shall be construed—</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s208/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">to authorize the Secretary to mandate, supersede, or preempt any local zoning or land use policy; or</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s208/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">to affect the requirements of section 105(c)(1) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12705(c)(1)).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s208/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Sunset.—</heading><content style="-uslm-dtd:text">The program established under this section shall terminate on the date that is 7 years after the date of enactment of this Act.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s208/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Authorization of Appropriations.—</heading> <paragraph identifier="/us/sComp/119/101/tII/s208/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">There is authorized to be appropriated to carry out this section $200,000,000 for each of fiscal years 2027 through 2031.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s208/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Adjustment.—</heading><content style="-uslm-dtd:text">The amount authorized to be appropriated under paragraph (1) shall be adjusted for inflation based on the Consumer Price Index for all Urban Customers published by the Bureau of Labor Statistics of the Department of Labor.</content> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tII/s209" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="209">SEC. 209. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s19506">42 U.S.C. 19506</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">ACCELERATING HOME BUILDING ACT. </heading> <subsection identifier="/us/sComp/119/101/tII/s209/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s209/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Affordable housing.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">affordable housing</quotedText>” means housing for which the total monthly housing cost payment is not more than 30 percent of the monthly household income for a household earning not more than 80 percent of the area median income.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Covered structure.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">covered structure</quotedText>” means—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s209/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a low-rise or mid-rise structure with not more than 25 dwelling units; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s209/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">includes—</chapeau> <clause identifier="/us/sComp/119/101/tII/s209/a/2/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">an accessory dwelling unit;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s209/a/2/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">infill development;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s209/a/2/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">a duplex;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s209/a/2/B/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">a triplex;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s209/a/2/B/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">a fourplex;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s209/a/2/B/vi" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vi">(vi) </num><content style="-uslm-dtd:text">a cottage court;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s209/a/2/B/vii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="vii">(vii) </num><content style="-uslm-dtd:text">a courtyard building;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s209/a/2/B/viii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="viii">(viii) </num><content style="-uslm-dtd:text">a townhouse;</content> </clause> <clause identifier="/us/sComp/119/101/tII/s209/a/2/B/ix" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ix">(ix) </num><content style="-uslm-dtd:text">a multiplex; and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s209/a/2/B/x" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="x">(x) </num><content style="-uslm-dtd:text">any other structure with not less than 2 dwelling units that the Secretary considers appropriate.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Eligible entity.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">eligible entity</quotedText>” means—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s209/a/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a unit of general local government, as defined in section 102(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5302(a));</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s209/a/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">a municipal membership organization; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s209/a/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">an Indian tribe, as defined in section 102(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5302(a)).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/a/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">High opportunity area.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">high opportunity area</quotedText>” has the meaning given the term in section 1282.1 of title 12, Code of Federal Regulations, or any successor regulation.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/a/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Infill development.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">infill development</quotedText>” means residential development on small parcels in previously established areas for replacement with new or refurbished housing that utilizes existing utilities and infrastructure.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/a/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Mixed-income housing.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">mixed-income housing</quotedText>” means a housing development that is comprised of housing units that promote differing levels of affordability in the community.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/a/7" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">Prereviewed designs.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">prereviewed designs</quotedText>”, also known as pattern books, means sets of construction plans that are assessed and approved by localities for compliance with local building and permitting standards to streamline and expedite approval pathways for housing construction.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/a/8" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">(8) </num><heading style="-uslm-dtd:header">Rural area.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">rural area</quotedText>” means any area other than a city or town that has a population of less than 50,000 inhabitants.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/a/9" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="9">(9) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s209/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Authority.—</heading><content style="-uslm-dtd:text">The Secretary is authorized to award grants to eligible entities utilizing funds appropriated for such purpose to select prereviewed designs of covered structures of mixed-income housing for use in the jurisdiction of the eligible entity, except that such grant awards may not be used for construction, alteration, or repair work.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s209/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Considerations.—</heading><chapeau style="-uslm-dtd:text">In reviewing applications submitted by eligible entities for a grant under this section, the Secretary shall consider—</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s209/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the need for affordable housing in the service area of the eligible entity;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the presence of high opportunity areas in the jurisdiction of the eligible entity;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/c/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">coordination between the eligible entity and a State agency; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/c/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">coordination between the eligible entity and State, local, and regional transportation planning authorities.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s209/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Set-aside for Rural Areas.—</heading><content style="-uslm-dtd:text">Of the amount made available in each fiscal year for grants under this section, the Secretary shall ensure that not less than 10 percent shall be used for grants to eligible entities that are located in rural areas.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s209/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Reports.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall require eligible entities receiving grants under this section to report on—</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s209/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the impacts of the activities carried out using the grant amounts in improving the production and supply of affordable housing;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the prereviewed designs selected using the grant amounts in their communities;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/e/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">the number of permits issued for housing development utilizing prereviewed designs; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/e/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">the number of housing units produced in developments utilizing the prereviewed designs.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s209/f" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Availability of Information.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall—</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s209/f/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">to the extent possible, encourage localities to make publicly available through a website information on the prereviewed designs selected and submitted to the Secretary by eligible entities receiving grants under this section, including information on the benefits of use of those designs; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s209/f/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">collect, identify, and disseminate best practices regarding such designs and make such information publicly available on the website of the Department of Housing and Urban Development.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s209/g" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Design Adoption and Repayment.—</heading><content style="-uslm-dtd:text">The Secretary may require an eligible entity to return to the Secretary any grant funds received under this section if the selected prereviewed designs submitted under this section have not been adopted during the 5-year period following receipt of the grant, unless that period is extended by the Secretary.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s209/h" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="h">(h) </num><heading style="-uslm-dtd:header">Technical Assistance.—</heading><content style="-uslm-dtd:text">The Secretary may set aside not more than 5 percent of amounts appropriated in a fiscal year to provide technical assistance to grant recipients under this section and pregrant technical assistance to prospective applicants.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tII/s210" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="210">SEC. 210. </num><heading style="-uslm-dtd:header">REVITALIZING EMPTY STRUCTURES INTO DESIRABLE ENVIRONMENTS (RESIDE) ACT. </heading> <subsection identifier="/us/sComp/119/101/tII/s210/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Subtitle A of title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12741 et seq.) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="227">“SEC. 227. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s12757">42 U.S.C. 12757</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">REVITALIZING EMPTY STRUCTURES INTO DESIRABLE ENVIRONMENTS </heading> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Attainable housing.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">attainable housing</quotedText>’ means housing that serves households earning not more than 120 percent of the area median income, if the majority of the housing units are affordable to households earning not more than 60 percent of the area median income.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Converted housing unit.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">converted housing unit</quotedText>’ means a housing unit that is created using a covered grant.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Covered grant.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">covered grant</quotedText>’ means a grant awarded under the Pilot Program.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Eligible entity.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">eligible entity</quotedText>’ means a participating jurisdiction.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Pilot program.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">Pilot Program</quotedText>’ means the pilot program established under subsection (b).</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">“(6) </num><heading style="-uslm-dtd:header">Vacant and abandoned building.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">vacant and abandoned building</quotedText>’ means a property—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">that was constructed for use as a warehouse, factory, mall, strip mall, or hotel, or for another industrial or commercial use; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B)</num><clause class="inline" style="-uslm-dtd:clause" styleType="OLC"><num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">with respect to which—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">a code enforcement inspection has determined that the property is not safe; and</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">not less than 90 days have elapsed since the owner was notified of the deficiencies in the property and the owner has taken no corrective action; or</content> </subclause></clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">that is subject to a court-ordered receivership or nuisance abatement related to abandonment pursuant to State or local law or otherwise meets the definition of an abandoned property under State law.</content> </clause> </subparagraph> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Purpose of Grant Program.—</heading><content style="-uslm-dtd:text">Subject to the availability of funds appropriated for this subsection, the Secretary is authorized to establish a pilot program, spanning from fiscal years 2027 through 2031, which shall have the purpose of awarding grants on a competitive basis to eligible entities to convert vacant and abandoned buildings into attainable housing.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Amount of Grant.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">For any fiscal year for which not less than $100,000,000 is made available to carry out the Pilot Program, the amount of a covered grant shall be not less than $1,000,000 and not more than $10,000,000.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Fiscal years with lower funding.—</heading><content style="-uslm-dtd:text">For any fiscal year for which less than $100,000,000 is made available to carry out the Pilot Program pursuant to subsection (b), the Secretary shall seek to maximize the number of covered grants awarded.</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">“(d) </num><heading style="-uslm-dtd:header">Relation to Formula Allocation.—</heading><content style="-uslm-dtd:text">A covered grant awarded to an eligible entity shall be in addition to, and shall not affect, the formula allocation for the eligible entity under section 217.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">“(e) </num><heading style="-uslm-dtd:header">Priority.—</heading><chapeau style="-uslm-dtd:text">In awarding covered grants, the Secretary shall give priority to an eligible entity that—</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">will use the covered grant in a community that is experiencing economic distress;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">will use the covered grant in a qualified opportunity zone (as defined in section 1400Z-1(a) of the Internal Revenue Code of 1986);</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">will use the covered grant to construct housing that will serve a need identified in the comprehensive housing affordability strategy and community development plan of the eligible entity under part 91 of title 24, Code of Federal Regulations, or any successor regulation (commonly referred to as a ‘consolidated plan’); or</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">has enacted ordinances to reduce regulatory barriers to conversion of vacant and abandoned buildings to housing, which shall not include any alteration of an ordinance that governs safety and habitability.</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">“(f) </num><heading style="-uslm-dtd:header">Use of Funds.—</heading><chapeau style="-uslm-dtd:text">An eligible entity may use a covered grant for—</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">property acquisition;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">demolition;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">health hazard remediation;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">site preparation;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><content style="-uslm-dtd:text">construction, renovation, or rehabilitation; or</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">“(6) </num><content style="-uslm-dtd:text">the establishment, maintenance, or expansion of community land trusts or housing cooperatives.</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">“(g) </num><heading style="-uslm-dtd:header">Waiver Authority.—</heading><content style="-uslm-dtd:text">In administering covered grants, the Secretary may waive, or specify alternative requirements for, any statute or regulation that the Secretary administers in connection with the obligation by the Secretary or the use by eligible entities of covered grant funds (except for requirements related to fair housing, nondiscrimination, labor standards, or the environment) if the Secretary makes a public finding that good cause exists for the waiver or alternative requirement.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="h">“(h) </num><heading style="-uslm-dtd:header">Study; Report.—</heading><chapeau style="-uslm-dtd:text">Not later than 180 days after the termination of the Pilot Program, the Secretary shall study and submit to Congress a report on the impact of the Pilot Program on—</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">improving the tax base of local communities;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">increasing access to affordable housing, especially for elderly individuals, disabled individuals, and veterans;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">increasing home-ownership; and</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">removing blight.”</content> </paragraph> </subsection> </section></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s210/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Technical and Conforming Amendment.—</heading><content style="-uslm-dtd:text">The table of contents in section 1(b) of the Cranston-Gonzalez National Affordable Housing Act (Public Law 101-625; 104 Stat. 4079) is amended by inserting after the item relating to section 226 the following:<quotedContent style="-uslm-dtd:quoted-block"> <toc style="-uslm-dtd:toc"> <referenceItem role="section" style="-uslm-dtd:toc-entry"><label>“Sec. 227. Revitalizing empty structures into desirable environments.”</label></referenceItem> </toc></quotedContent>.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tII/s211" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="211">SEC. 211. </num><heading style="-uslm-dtd:header">HOUSING AFFORDABILITY ACT. </heading> <subsection identifier="/us/sComp/119/101/tII/s211/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">Title II of the National Housing Act (12 U.S.C. 1707 et seq.) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s211/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">in section 206A (12 U.S.C. 1712a)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in subsection (a), in the matter following paragraph (7), by striking “<quotedText style="-uslm-dtd:quote">(commencing in 2004</quotedText>” and all that follows through the period at the end and inserting the following: “<quotedText style="-uslm-dtd:quote">, commencing on July 1, 2025.Federal Register, publication.Public comments. The adjustment of the Dollar Amounts shall be calculated by the Secretary using the percentage change in the Price Deflator Index of Multifamily Residential Units Under Construction released by the Bureau of the Census from March of the previous year to March of the year in which the adjustment is made, or by the Secretary using an alternative indicator after publishing information about such alternative indicator in the Federal Register for public comment if the Price Deflator Index of Multifamily Residential Units Under Construction is not available or published.</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by amending subsection (b) to read as follows:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Publication.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary shall publish in the Federal Register any adjustments made to the Dollar Amounts.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Rounding.—</heading><content style="-uslm-dtd:text">The dollar amount of any adjustment described in paragraph (1) shall be rounded to the next lower dollar.”</content> </paragraph> </subsection></quotedContent>;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s211/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in section 207(c)(3)(A) (12 U.S.C. 1713(c)(3)(A))—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$38,025</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$167,310</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$42,120</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$185,328</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$50,310</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$221,364</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/2/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$62,010</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$272,844</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/2/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$70,200</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$308,880</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/2/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">, or not to exceed $17,460 per space</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/2/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$43,875</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$193,050</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/2/H" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">(H) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$49,140</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$216,216</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/2/I" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$60,255</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$265,122</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/2/J" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="J">(J) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$75,465</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$332,046</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/2/K" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="K">(K) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$85,328</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$375,443</quotedText>”;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s211/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><chapeau style="-uslm-dtd:text">in section 213(b)(2) (12 U.S.C. 1715e(b)(2))—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$41,207</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$181,311</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$47,511</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$209,048</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$57,300</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$252,120</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/3/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$73,343</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$322,709</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/3/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$81,708</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$359,515</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/3/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$43,875</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$193,050</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/3/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$49,710</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$218,724</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/3/H" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">(H) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$60,446</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$265,962</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/3/I" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$78,197</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$344,067</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/3/J" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="J">(J) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$85,836</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$377,678</quotedText>”;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s211/a/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><chapeau style="-uslm-dtd:text">in section 220(d)(3)(B)(iii)(I) (12 U.S.C. 1715k(d)(3)(B)(iii)(I))—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/4/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$38,025</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$167,310</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/4/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$42,120</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$185,328</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/4/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$50,310</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$221,364</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/4/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$62,010</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$272,844</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/4/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$70,200</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$308,880</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/4/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$43,875</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$193,050</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/4/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$49,140</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$216,216</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/4/H" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">(H) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$60,255</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$265,122</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/4/I" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$75,465</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$332,046</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/4/J" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="J">(J) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$85,328</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$375,443</quotedText>”;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s211/a/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><chapeau style="-uslm-dtd:text">in section 221(d)(4)(ii)(I) (12 U.S.C. 1715l(d)(4)(ii)(I))—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/5/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$37,843</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$166,509</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/5/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$42,954</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$188,997</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/5/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$51,920</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$228,448</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/5/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$65,169</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$286,744</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/5/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$73,846</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$324,922</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/5/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$40,876</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$179,854</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/5/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$46,859</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$206,180</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/5/H" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">(H) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$56,979</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$250,708</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/5/I" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$73,710</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$324,324</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/5/J" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="J">(J) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$80,913</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$356,017</quotedText>”;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s211/a/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><chapeau style="-uslm-dtd:text">in section 231(c)(2)(A) (12 U.S.C. 1715v(c)(2)(A))—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/6/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$35,978</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$166,509</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/6/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$40,220</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$188,997</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/6/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$48,029</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$228,448</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/6/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$57,798</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$286,744</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/6/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$67,950</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$324,922</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/6/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$40,876</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$179,854</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/6/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$46,859</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$206,180</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/6/H" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">(H) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$56,979</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$250,708</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/6/I" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$73,710</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$324,324</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/6/J" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="J">(J) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$80,913</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$356,017</quotedText>”; and</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s211/a/7" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">(7) </num><chapeau style="-uslm-dtd:text">in section 234(e)(3)(A) (12 U.S.C. 1715y(e)(3)(A))—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/7/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$42,048</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$185,011</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/7/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$48,481</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$213,316</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/7/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$58,469</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$257,263</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/7/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$74,840</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$329,296</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/7/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$83,375</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$366,850</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/7/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$44,250</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$194,700</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/7/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$50,724</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$223,186</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/7/H" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">(H) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$61,680</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$271,392</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/7/I" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$79,793</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$351,089</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/a/7/J" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="J">(J) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$87,588</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$385,387</quotedText>”.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s211/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s1712a">12 U.S.C. 1712a note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Rule of Construction.—</heading><content style="-uslm-dtd:text">Nothing in this section or the amendments made by this section may be construed to limit the authority of the Secretary of Housing and Urban Development to revise the statutory exceptions for high-cost percentage and high-cost areas annual indexing.</content> </subsection> <subsection identifier="/us/sComp/119/101/tII/s211/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Multifamily Loan Limit Study.—</heading><chapeau style="-uslm-dtd:text">The Commissioner of the Federal Housing Administration, in consultation with the Secretary of Housing and Urban Development, shall conduct a study to assess the following in comparison to the loan limits prior to the amendments made under this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s211/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">Whether the Commissioner has sufficient authority to increase loan limits for each multifamily mortgage insurance program at appropriate amounts, including to meet market demand.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s211/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">The impacts that multifamily loan limit increases have had, if any, on—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s211/c/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the General Insurance and Special Risk Insurance Fund;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/c/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the change in volume of multifamily purchase and construction lending that is insured by the Federal Housing Administration; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s211/c/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">subject to the availability of data, the year-over-year change over the last 6 years in—</chapeau> <clause identifier="/us/sComp/119/101/tII/s211/c/2/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">median and average lending costs as well as rent and house prices within the multifamily housing market; and</content> </clause> <clause identifier="/us/sComp/119/101/tII/s211/c/2/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">multifamily housing supply, including the number of building permits issued as well as housing unit starts and completions.</content> </clause> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s211/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than 3 years after the date of enactment of this Act, the Commissioner of the Federal Housing Administration shall submit to Congress a report summarizing the findings of the Commissioner for the study conducted under subsection (b).</content> </subsection> </section> <section identifier="/us/sComp/119/101/tII/s212" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="212">SEC. 212. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1437f">42 U.S.C. 1437f note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">RENTAL ASSISTANCE DEMONSTRATION PROGRAM. </heading> <chapeau class="block" style="-uslm-dtd:text">The language under the heading “<headingText style="-uslm-dtd:header-in-text">Rental Assistance Demonstration</headingText>” in the Department of Housing and Urban Development Appropriations Act, 2012 (Public Law 112-55; 125 Stat. 673) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s212/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in the second proviso, by striking “<quotedText style="-uslm-dtd:quote">until September 30, 2029</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">for fiscal year 2012 and each fiscal year thereafter</quotedText>”;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s212/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in the fourth proviso, by striking “<quotedText style="-uslm-dtd:quote">455,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">555,000</quotedText>”;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s212/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">in the twentieth proviso, as so designated before the date of enactment of this Act, by striking “<quotedText style="-uslm-dtd:quote">or other means:</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">or other means, including the adoption of a mandatory tenant lease and management plan addendum for a property with assistance converted, if not otherwise covered by another program, under this demonstration:</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s212/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">vouchers to project-based vouchers.</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">vouchers to project-based vouchers: Provided further, ThatTime period.AssessmentPublication. the Secretary shall annually assess and publish findings regarding the impact of the conversion of assistance under the First Component of the demonstration with respect to the preservation and improvement of public housing, the amount of private sector leveraging resulting from such conversion transactions, the prevalence of pre-conversion residents remaining in or returning to the property following conversion, and the effect of such conversion on tenants, including the impact of such conversion on the rights maintained by tenants as enumerated in regulations and other documents conferring rights upon tenants as developed by the Secretary, and other matters the Secretary may determine appropriate: Provided further, Penalties.That the Secretary may take remediative action or impose civil money penalties or other administrative sanctions for material violations of a requirement under the First and Second Components of this demonstration: Provided further, That nothing in the matter under this heading shall be construed to diminish, impair, or otherwise negatively affect the Rental Assistance Demonstration property rights of owners or rights of tenants, which shall remain enforceable by tenants, as enumerated in current law, regulations, and other agency guidance or notices as it relates to properties converted under the First and Second Components of the Rental Assistance Demonstration Program; Provided further, That any property owned by the public housing agency shall be used to replace, create, preserve, improve, or expand affordable housing supply, including as part of mixed use developments, and no conversion under the Rental Assistance Demonstration shall be used for sporting, private, or for-profit purposes, excluding those which maintain or expand housing supply which may use an affordable housing tax credit or other housing affordability program.</quotedText>”.</content> </paragraph> </section> <section identifier="/us/sComp/119/101/tII/s213" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="213">SEC. 213. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s19507">42 U.S.C. 19507</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">BUILD NOW ACT. </heading> <subsection identifier="/us/sComp/119/101/tII/s213/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s213/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Covered recipient.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">covered recipient</quotedText>” means a metropolitan city or urban county, as those terms are defined in section 102 of the Housing and Community Development Act of 1974 (42 U.S.C. 5302), that receives funds under section 106.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Current annual growth rate.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">current annual growth rate</quotedText>”, with respect to an eligible recipient and a fiscal year, means the average annual percentage increase in the number of housing units in the jurisdiction of the eligible recipient, as calculated by the Secretary, during the period—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s213/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">beginning with the third quarter of the sixth preceding fiscal year; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s213/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">ending with the third quarter of the preceding fiscal year.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Eligible recipient.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">eligible recipient</quotedText>” means any covered recipient unless—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s213/a/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A)</num><clause class="inline" identifier="/us/sComp/119/101/tII/s213/a/3/A/i" style="-uslm-dtd:clause" styleType="OLC"><num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the median Small Area Fair Market Rent in the jurisdiction of the covered recipient is at or below the 60th percentile of median Small Area Fair Market Rents in the jurisdictions of all covered recipients; and</content></clause> <clause identifier="/us/sComp/119/101/tII/s213/a/3/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the median home value in the jurisdiction of the covered recipient is below the median home value for the United States;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s213/a/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the annual rental vacancy rate in the jurisdiction of the covered recipient is greater than the national annual rental vacancy rate for the most recent year available, as published by the Bureau of the Census;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s213/a/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">during the 3-year period preceding the date on which the Secretary allocates funds under section 106, the jurisdiction of the covered recipient has been the subject of a major disaster or emergency declaration under section 401 or 501, respectively, of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5170, 5191); or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s213/a/3/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">the covered recipient lacks the legal authority to enact or update zoning and permitting ordinances.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/a/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Extremely high-growth recipient.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">extremely high-growth recipient</quotedText>” means an eligible recipient for which the current annual growth rate is at or above 4 percent.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/a/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Housing growth improvement rate.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">housing growth improvement rate</quotedText>”, with respect to an eligible recipient and a fiscal year, means the quotient of—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s213/a/5/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A)</num><clause class="inline" identifier="/us/sComp/119/101/tII/s213/a/5/A/i" style="-uslm-dtd:clause" styleType="OLC"><num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the current annual growth rate of the eligible recipient, minus</content></clause> <clause identifier="/us/sComp/119/101/tII/s213/a/5/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the prior annual growth rate of the eligible recipient; and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s213/a/5/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the sum obtained by adding the absolute values of the current annual growth rate and the prior annual growth rate of the eligible recipient.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/a/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Prior annual growth rate.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">prior annual growth rate</quotedText>”, with respect to an eligible recipient and a fiscal year, means the average annual percentage increase in the number of housing units in the jurisdiction of the eligible recipient, as calculated by the Secretary, during the period—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s213/a/6/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">beginning with the third quarter of the 11th preceding fiscal year; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s213/a/6/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">ending with the third quarter of the sixth preceding fiscal year.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/a/7" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/a/8" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">(8) </num><heading style="-uslm-dtd:header">Section 106.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">section 106</quotedText>” means section 106 of the Housing and Community Development Act of 1974 (42 U.S.C. 5306).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s213/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Adjustments to Community Development Block Grant Allocations.—</heading> <paragraph identifier="/us/sComp/119/101/tII/s213/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">In allocating amounts to an eligible recipient under section 106 for a fiscal year, the Secretary shall adjust the allocation based on the housing growth improvement rate of the eligible recipient, in accordance with paragraph (2) of this subsection.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Adjustments.—</heading> <subparagraph identifier="/us/sComp/119/101/tII/s213/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Housing growth improvement rate at or above median; extremely high-growth recipients.—</heading> <clause identifier="/us/sComp/119/101/tII/s213/b/2/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">If, with respect to a fiscal year for which the allocation under section 106 is being determined, the housing growth improvement rate for an eligible recipient is at or above the median housing growth improvement rate for all eligible recipients other than extremely high-growth recipients, or if an eligible recipient is an extremely high-growth recipient, the Secretary shall allocate to the eligible recipient for that fiscal year, in addition to the amount that would otherwise be allocated to the eligible recipient under section 106, a bonus amount, as determined under clause (ii) of this subparagraph.</content> </clause> <clause identifier="/us/sComp/119/101/tII/s213/b/2/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><heading style="-uslm-dtd:header">Bonus amount.—</heading><chapeau style="-uslm-dtd:text">For purposes of clause (i), the bonus amount for an eligible recipient for a fiscal year shall be equal to the product of—</chapeau> <subclause identifier="/us/sComp/119/101/tII/s213/b/2/A/ii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">the aggregate amount by which allocations to eligible recipients are decreased under subparagraph (B) for that fiscal year; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tII/s213/b/2/A/ii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><chapeau style="-uslm-dtd:text">the quotient of—</chapeau> <item identifier="/us/sComp/119/101/tII/s213/b/2/A/ii/II/aa" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">the difference in the number of housing units, between the third quarter of the second preceding fiscal year and the third quarter of the preceding fiscal year, in the jurisdiction of the eligible recipient, as calculated by the Secretary; and</content> </item> <item identifier="/us/sComp/119/101/tII/s213/b/2/A/ii/II/bb" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">the difference in the number of housing units, between the third quarter of the second preceding fiscal year and the third quarter of the preceding fiscal year, in the jurisdictions of all eligible recipients that receive a bonus amount under this paragraph, as calculated by the Secretary.</content> </item> </subclause> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s213/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Housing growth improvement rate below median.—</heading><content style="-uslm-dtd:text">If, with respect to a fiscal year for which the allocation under section 106 is being determined, the housing growth improvement rate for an eligible recipient is below the median housing growth improvement rate for all eligible recipients other than high-growth outliers, the Secretary shall decrease the amount that would otherwise be allocated to the eligible recipient under section 106 for that fiscal year by 10 percent.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s213/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Calculation of Housing Units.—</heading> <paragraph identifier="/us/sComp/119/101/tII/s213/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Housing and urban development requirements.—</heading><chapeau style="-uslm-dtd:text">In calculating the number of housing units in the jurisdiction of an eligible recipient under any provision of this section, the Secretary shall—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s213/c/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">use the Current Address Count Listing Files and other data products, as needed, of the Bureau of the Census tabulated from the Master Address File; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s213/c/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">make calculations at the block level, using boundaries that reflect the most current boundaries.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Census bureau and postal service requirements.—</heading><content style="-uslm-dtd:text">The Bureau of the Census and the United States Postal Service shall provide any relevant data to the Secretary upon request to assist the Secretary in making a calculation described in paragraph (1).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/c/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Adjustment of calculation periods.—</heading><content style="-uslm-dtd:text">The Secretary may adjust the calculation periods under subparagraphs (A) and (B) of subsection (a)(2), subparagraphs (A) and (B) of subsection (a)(6), and items (aa) and (bb) of subsection (b)(2)(A)(ii)(II) by not more than 2 months to achieve alignment with the data provided by the Bureau of the Census.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s213/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Annual Report on Housing Growth Improvement Rate.—</heading><chapeau style="-uslm-dtd:text">Before allocating funds under section 106 for a fiscal year, the Secretary shall publish a report that—</chapeau> <paragraph identifier="/us/sComp/119/101/tII/s213/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">includes the housing growth improvement rate for each eligible recipient; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">lists, for the most recent fiscal year for which allocations were made under section 106—</chapeau> <subparagraph identifier="/us/sComp/119/101/tII/s213/d/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the eligible recipients that received a bonus amount under subsection (b)(2)(A); and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s213/d/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the eligible recipients for which the allocation under section 106 was decreased under subsection (b)(2)(B) of this section.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tII/s213/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Notification; Implementation Dates.—</heading> <paragraph identifier="/us/sComp/119/101/tII/s213/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Notification.—</heading> <subparagraph identifier="/us/sComp/119/101/tII/s213/e/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not later than 60 days after the date of enactment of this Act, the Secretary shall notify each eligible recipient of the recipient’s housing growth improvement rate and whether that housing growth improvement rate is above, at, or below the median housing growth improvement rate for all eligible recipients other than extremely high-growth recipients.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tII/s213/e/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Guidance.—</heading><content style="-uslm-dtd:text">As part of the notification under subparagraph (A), the Secretary shall share guidance, including resources developed by the Department of Housing and Urban Development, on best practices and recommendations for policies to reduce regulatory barriers to housing and increase housing supply.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Implementation dates.—</heading><content style="-uslm-dtd:text">Subsection (b) shall take effect beginning with the third full fiscal year after the date of enactment of this Act and remain in effect through fiscal year 2043.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tII/s213/e/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">No effect on previous appropriations.—</heading><content style="-uslm-dtd:text">This section shall not apply to amounts appropriated before the date of enactment of this Act.</content> </paragraph> </subsection> </section> <num style="-uslm-dtd:enum" value="III">TITLE III—</num><heading style="-uslm-dtd:header">MANUFACTURED HOUSING FOR AMERICA </heading> <section identifier="/us/sComp/119/101/tIII/s301" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="301">SEC. 301. </num><heading style="-uslm-dtd:header">HOUSING SUPPLY EXPANSION ACT. </heading> <subsection identifier="/us/sComp/119/101/tIII/s301/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Section 603(6) of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5402(6)) is amended by striking “<quotedText style="-uslm-dtd:quote">on a permanent chassis</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">with or without a permanent chassis</quotedText>”.</content> </subsection> <subsection identifier="/us/sComp/119/101/tIII/s301/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Standards for Manufactured Homes Built Without a Permanent Chassis.—</heading><content style="-uslm-dtd:text">Section 604(a) of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5403(a)) is amended by adding the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">“(7) </num><heading style="-uslm-dtd:header">Standards for manufactured homes built without a permanent chassis.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary, in consultation with the consensus committee, shall issue revised standards for manufactured homes built without a permanent chassis using the process described in paragraph (4).</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Creating final standards.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall, after consulting and conferring with the consensus committee, establish standards to ensure that manufactured homes without a permanent chassis have—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">a distinct label, with revenue generated to be deposited into the Manufactured Housing Fees Trust Fund established under section 620(e)(1), to be issued by the Secretary distinguishing manufactured home built without a permanent chassis from manufactured homes built on a permanent chassis;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">a data plate, as described in section 3280.5 of title 24, Code of Federal Regulations (or any successor regulation), distinguishing manufactured homes built without a permanent chassis from manufactured homes built on a permanent chassis; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">a notation on any invoice produced by the manufacturer of a manufactured home that is distinguishable from the invoice for a manufactured home constructed with a permanent chassis.”</content> </clause> </subparagraph> </paragraph></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tIII/s301/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Manufactured Home Certifications.—</heading><content style="-uslm-dtd:text">Section 604 of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5403) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Manufactured Home Certifications.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Initial certification.—</heading><chapeau style="-uslm-dtd:text">Subject to subparagraph (B), not later than 1 year after the date of enactment of the 21st Century ROAD to Housing Act, a State shall submit to the Secretary an initial certification that the laws and regulations of the State—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">treat any manufactured home in parity with a manufactured home (as defined and regulated by the State); and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">subject a manufactured home without a permanent chassis to the same laws and regulations of the State as a manufactured home built on a permanent chassis, including with respect to financing, title, insurance, manufacture, sale, taxes, transportation, installation, and other areas as the Secretary determines, after consultation with and approval by the consensus committee, are necessary to give effect to the purpose of this section.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">State plan submission.—</heading><content style="-uslm-dtd:text">Any State plan submitted under section 623(b) shall contain the required State certification under subparagraph (A) and, if contained therein, no additional or State certification under subparagraph (A) or paragraph (3).</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Extended deadline.—</heading><content style="-uslm-dtd:text">With respect to a State with a legislature that meets biennially, the deadline for the submission of the initial certification required under subparagraph (A) shall be 2 years after the date of enactment of the 21st Century ROAD to Housing Act.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Late certification.—</heading> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">No waiver.—</heading><content style="-uslm-dtd:text">The Secretary may not waive the prohibition described in paragraph (5)(B) with respect to a certification submitted after the deadline under subparagraph (A) or paragraph (3) unless the Secretary approves the late certification.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Rule of construction.—</heading><content style="-uslm-dtd:text">Nothing in this subsection shall be construed to prevent a State from submitting the initial certification required under subparagraph (A) after the required deadline under that subparagraph.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Form of state certification not presented in a state plan.—</heading><chapeau style="-uslm-dtd:text">The initial certification required under paragraph (1)(A), if not submitted with a State plan under paragraph (1)(B), shall contain, in a form prescribed by the Secretary, an attestation by an official that the State has taken the steps necessary to ensure the veracity of the certification required under paragraph (1)(A), including, as necessary, by—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">amending the definition of ‘manufactured home’ in the laws and regulations of the State; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">directing State agencies to amend the definition of ‘manufactured home’ in regulations.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Annual recertification.—</heading><chapeau style="-uslm-dtd:text">Not later than a date to be determined by the Secretary each year, a State shall submit to the Secretary an additional certification that—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">confirms the accuracy of the initial certification submitted under subparagraph (A) or (B) of paragraph (1); and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">certifies that any new laws or regulations enacted or adopted by the State since the date of the previous certification do not change the veracity of the initial certification submitted under paragraph (1)(A).</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">List.—</heading><content style="-uslm-dtd:text">The Secretary shall publish and maintain in the Federal Register and on the website of the Department of Housing and Urban Development a list of States that are up to date with the submission of initial and subsequent certifications required under this subsection.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Prohibition.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Definition.—</heading><chapeau style="-uslm-dtd:text">In this paragraph, the term ‘<quotedText style="-uslm-dtd:quote">covered manufactured home</quotedText>’ means a home that is—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">not considered a manufactured home under the laws and regulations of a State because the home is constructed without a permanent chassis;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">considered a manufactured home under the definition of the term in section 603; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">constructed after the date of enactment of the 21st Century ROAD to Housing Act.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Building, installation, and sale.—</heading><chapeau style="-uslm-dtd:text">If a State does not submit a certification under paragraph (1)(A) or (3) by the date on which those certifications are required to be submitted—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">with respect to a State in which the State administers the installation of manufactured homes, the State shall prohibit the manufacture, installation, or sale of a covered manufactured home within the State; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">with respect to a State in which the Secretary administers the installation of manufactured homes, the State and the Secretary shall prohibit the manufacture, installation, or sale of a covered manufactured home within the State.”</content> </clause> </subparagraph> </paragraph> </subsection></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tIII/s301/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s5403">42 U.S.C. 5403 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Other Federal Laws Regulating Manufactured Homes.—</heading> <paragraph identifier="/us/sComp/119/101/tIII/s301/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary of Housing and Urban Development may coordinate with the heads of other Federal agencies to ensure that Federal agencies treat a manufactured home (as defined in Federal laws and regulations other than section 603 of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5402)) in the same manner as a manufactured home (as defined in section 603 of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5402), as amended by this Act).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s301/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Energy efficiency standards.—</heading> <subparagraph identifier="/us/sComp/119/101/tIII/s301/d/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Manufactured home defined.—</heading><content style="-uslm-dtd:text">In this paragraph, the term “<quotedText style="-uslm-dtd:quote">manufactured home</quotedText>” has the meaning given the term in section 603 of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5402), as amended by this Act.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIII/s301/d/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Process.—</heading><content style="-uslm-dtd:text">No energy efficiency standards for manufactured homes developed by any Federal agency shall have legal effect unless and until adopted by the Department of Housing and Urban Development pursuant to the consensus standards and regulatory development process described in section 604(a)(2) of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5403(a)(2)).</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIII/s301/d/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Minimum standards.—</heading><chapeau style="-uslm-dtd:text">The Secretary of Housing and Urban Development shall—</chapeau> <clause identifier="/us/sComp/119/101/tIII/s301/d/2/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">not later than 1 year after the date of enactment of this Act, adopt minimum energy efficiency standards for manufactured homes; and</content> </clause> <clause identifier="/us/sComp/119/101/tIII/s301/d/2/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">not less frequently than once every 3 years after adopting the standards under clause (i), update those standards.</content> </clause> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIII/s301/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Assistance to States.—</heading><chapeau style="-uslm-dtd:text">Section 609 of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5408) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tIII/s301/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (1), by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s301/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (2), by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s301/e/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">model guidance to support the submission of the certification required under section 604(i).”</content> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIII/s301/f" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">(f) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s5403">42 U.S.C. 5403 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Preemption.—</heading><content style="-uslm-dtd:text">Nothing in this section or the amendments made by this section may be construed as limiting the scope of Federal preemption under section 604(d) of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5403(d)).</content> </subsection> </section> <section identifier="/us/sComp/119/101/tIII/s302" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="302">SEC. 302. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s1703">12 U.S.C. 1703 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">MODULAR HOUSING PRODUCTION ACT. </heading> <subsection identifier="/us/sComp/119/101/tIII/s302/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tIII/s302/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Manufactured home.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">manufactured home</quotedText>” has the meaning given the term in section 603 of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5402).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s302/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Modular home.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">modular home</quotedText>” means a home that is constructed in a factory in 1 or more modules, each of which meets applicable State and local building codes of the area in which the home will be located, and that are transported to the home building site, installed on foundations, and completed.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s302/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIII/s302/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">FHA Construction Financing Programs.—</heading> <paragraph identifier="/us/sComp/119/101/tIII/s302/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary shall conduct a review of Federal Housing Administration construction financing programs to identify barriers to the use of modular home methods.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s302/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Requirements.—</heading><chapeau style="-uslm-dtd:text">In conducting the review under paragraph (1), the Secretary shall—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIII/s302/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">identify and evaluate regulatory and programmatic features that restrict participation in construction financing programs by modular home developers, including construction draw schedules; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIII/s302/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">identify administrative measures authorized under section 525 of the National Housing Act (12 U.S.C. 1735f-3) to facilitate program utilization by modular home developers.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s302/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Secretary shall publish a report that describes the results of the review conducted under paragraph (1), which shall include a description of programmatic and policy changes that the Secretary recommends to reduce or eliminate identified barriers to the use of modular home methods in Federal Housing Administration construction financing programs.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s302/b/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Rulemaking.—</heading> <subparagraph identifier="/us/sComp/119/101/tIII/s302/b/4/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not later than 120 days after the date on which the Secretary publishes the report under paragraph (3), the Secretary shall initiate a rulemaking to examine an alternative draw schedule for construction financing loans provided to modular and manufactured home developers, which shall include the ability for interested stakeholders to provide robust public comment.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIII/s302/b/4/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Determination.—</heading><chapeau style="-uslm-dtd:text">Following the period for public comment under subparagraph (A), the Secretary shall—</chapeau> <clause identifier="/us/sComp/119/101/tIII/s302/b/4/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">issue a final rule regarding an alternative draw schedule described in subparagraph (A); or</content> </clause> <clause identifier="/us/sComp/119/101/tIII/s302/b/4/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">provide an explanation as to why the rule shall not become final.</content> </clause> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIII/s302/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Standardized Uniform Commercial Code for Modular Homes.—</heading><chapeau style="-uslm-dtd:text">The Secretary may award a grant to study the design and feasibility of a standardized uniform commercial code for modular homes, which shall evaluate—</chapeau> <paragraph identifier="/us/sComp/119/101/tIII/s302/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the utility of a standardized coding system for serializing and securing modules, streamlining design and construction, and improving modular home innovation; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s302/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">a means to coordinate a standardized code with financing incentives.</content> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tIII/s303" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="303">SEC. 303. </num><heading style="-uslm-dtd:header">PROPERTY IMPROVEMENT AND MANUFACTURED HOUSING LOAN MODERNIZATION ACT. </heading> <subsection identifier="/us/sComp/119/101/tIII/s303/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">National Housing Act Amendments.—</heading> <paragraph identifier="/us/sComp/119/101/tIII/s303/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Section 2 of the National Housing Act (12 U.S.C. 1703) is amended—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIII/s303/a/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in subsection (a), by inserting “<quotedText style="-uslm-dtd:quote">construction of additional or accessory dwelling units, as defined by the Secretary,</quotedText>” after “<quotedText style="-uslm-dtd:quote">energy conserving improvements,</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIII/s303/a/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">in subsection (b)—</chapeau> <clause identifier="/us/sComp/119/101/tIII/s303/a/1/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">in paragraph (1)—</chapeau> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking subparagraph (A) and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">$75,000 if made for the purpose of financing alterations, repairs, and improvements upon or in connection with an existing single-family structure, including a manufactured home;”</content> </subparagraph></quotedContent>;</content> </subclause> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><chapeau style="-uslm-dtd:text">in subparagraph (B)—</chapeau> <item identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/II/aa" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$60,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$150,000</quotedText>”;</content> </item> <item identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/II/bb" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$12,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$37,500</quotedText>”; and</content> </item> <item identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/II/cc" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="cc">(cc) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">an apartment house or</quotedText>”;</content> </item> </subclause> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/III" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">by striking subparagraphs (C) and (D) and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C)</num><clause class="inline" style="-uslm-dtd:clause" styleType="OLC"><num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">$106,405 if made for the purpose of financing the purchase of a single-section manufactured home; and</content></clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">$195,322 if made for the purpose of financing the purchase of a multi-section manufactured home;</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D)</num><clause class="inline" style="-uslm-dtd:clause" styleType="OLC"><num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">$149,782 if made for the purpose of financing the purchase of a single-section manufactured home and a suitably developed lot on which to place the home; and</content></clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">$238,699 if made for the purpose of financing the purchase of a multi-section manufactured home and a suitably developed lot on which to place the home;”</content> </clause> </subparagraph></quotedContent>;</content> </subclause> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/IV" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="IV">(IV) </num><chapeau style="-uslm-dtd:text">in subparagraph (E)—</chapeau> <item identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/IV/aa" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$23,226</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$43,377</quotedText>”; and</content> </item> <item identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/IV/bb" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">by striking the period at the end and inserting a semicolon;</content> </item> </subclause> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/V" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="V">(V) </num><content style="-uslm-dtd:text">in subparagraph (F), by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end;</content> </subclause> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/VI" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="VI">(VI) </num><content style="-uslm-dtd:text">in subparagraph (G), by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/i/VII" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="VII">(VII) </num><content style="-uslm-dtd:text">by inserting after subparagraph (G) the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">“(H) </num><content style="-uslm-dtd:text">such principal amount as the Secretary may prescribe if made for the purpose of financing the construction of an accessory dwelling unit.”</content> </subparagraph></quotedContent>;</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tIII/s303/a/1/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><chapeau style="-uslm-dtd:text">in the matter immediately preceding paragraph (2)—</chapeau> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/ii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">regulation</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">notice</quotedText>”;</content> </subclause> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/ii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">increase</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">set</quotedText>”;</content> </subclause> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/ii/III" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">(A)(ii), (C), (D), and (E)</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">(A) through (H)</quotedText>”;</content> </subclause> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/ii/IV" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="IV">(IV) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">, or as necessary to achieve the goals of the Federal Housing Administration, periodically reset the dollar amount limitations in subparagraphs (A) through (H) based on justification and methodology set forth in advance by regulation</quotedText>” before the period at the end; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tIII/s303/a/1/B/ii/V" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="V">(V) </num><content style="-uslm-dtd:text">by adjusting the margins appropriately;</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tIII/s303/a/1/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">in paragraph (3), by striking “<quotedText style="-uslm-dtd:quote">exceeds—</quotedText>” and all that follows through the period at the end and inserting “<quotedText style="-uslm-dtd:quote">exceeds such period of time as determined by the Secretary, not to exceed 30 years.</quotedText>”;</content> </clause> <clause identifier="/us/sComp/119/101/tIII/s303/a/1/B/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">by striking paragraph (9) and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="9">“(9) </num><heading style="-uslm-dtd:header">Annual indexing of certain dollar amount limitations.—</heading><content style="-uslm-dtd:text">The Secretary shall develop or choose 1 or more methods of indexing in order to annually set the loan limits established in paragraph (1), based on data the Secretary determines is appropriate for purposes of this section.”</content> </paragraph></quotedContent>; and</content> </clause> <clause identifier="/us/sComp/119/101/tIII/s303/a/1/B/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">in paragraph (11), by striking “<quotedText style="-uslm-dtd:quote">lease—</quotedText>” and all that follows through the period at the end and inserting “<quotedText style="-uslm-dtd:quote">lease meets the terms and conditions established by the Secretary</quotedText>”.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s303/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s1703">12 U.S.C. 1703 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Deadline for development or choice of new index; interim index.—</heading> <subparagraph identifier="/us/sComp/119/101/tIII/s303/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Deadline for development or choice of new index.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Secretary of Housing and Urban Development shall develop or choose 1 or more methods of indexing as required under section 2(b)(9) of the National Housing Act (12 U.S.C. 1703(b)(9)), as amended by paragraph (1) of this subsection.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIII/s303/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Interim index.—</heading><content style="-uslm-dtd:text">During the period beginning on the date of enactment of this Act and ending on the date on which the Secretary of Housing and Urban Development develops or chooses 1 or more methods of indexing as required under section 2(b)(9) of the National Housing Act (12 U.S.C. 1703(b)(9)), as amended by paragraph (1) of this subsection, the method of indexing established by the Secretary under such section 2(b)(9) before the date of enactment of this Act shall apply.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIII/s303/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">HUD Study of Offsite Construction.—</heading> <paragraph identifier="/us/sComp/119/101/tIII/s303/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this subsection:</chapeau> <subparagraph identifier="/us/sComp/119/101/tIII/s303/b/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Offsite construction housing.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">offsite construction housing</quotedText>” includes manufactured homes and modular homes.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIII/s303/b/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Manufactured home.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">manufactured home</quotedText>” means any home constructed in accordance with the construction and safety standards established under the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5401 et seq.).</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIII/s303/b/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Modular home.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">modular home</quotedText>” means a home that is constructed in a factory in 1 or more modules, each of which meets applicable State and local building codes of the area in which the home will be located, and that are transported to the home building site, installed on foundations, and completed.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s303/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Study.—</heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this section, the Secretary of Housing and Urban Development shall conduct a study and submit to Congress a report on the cost effectiveness of offsite construction housing that includes—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIII/s303/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">an analysis of the advantages and the impact of centralization in a factory and transportation to a construction site on cost, precision, and materials waste;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIII/s303/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the extent to which offsite construction housing meets housing quality standards under the National Standards for the Physical Inspection of Real Estate, or other standards as the Secretary may prescribe, compared to the extent for site-built homes, for such standards;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIII/s303/b/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">the expected replacement and maintenance costs over the first 40 years of life of offsite construction homes compared to those costs for site-built homes; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIII/s303/b/2/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">opportunities for use beyond single-family housing, such as applications in accessory dwelling units, two- to four-unit housing, and large multifamily housing.</content> </subparagraph> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tIII/s304" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="304">SEC. 304. </num><heading style="-uslm-dtd:header">PRICE ACT. </heading> <subsection identifier="/us/sComp/119/101/tIII/s304/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">Title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tIII/s304/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in section 105(a) (42 U.S.C. 5305(a)), in the matter preceding paragraph (1), by striking “<quotedText style="-uslm-dtd:quote">Activities</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Unless otherwise authorized under section 123, activities</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIII/s304/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="123">“SEC. 123. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s5323">42 U.S.C. 5323</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">PRESERVATION AND REINVESTMENT FOR COMMUNITY ENHANCEMENT </heading> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Community development financial institution.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">community development financial institution</quotedText>’ means an institution that has been certified as a community development financial institution (as defined in section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4702)) by the Secretary of the Treasury.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Eligible manufactured housing community.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">eligible manufactured housing community</quotedText>’ means a manufactured housing community that—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">is affordable to low- and moderate-income persons, as determined by the Secretary, but not more than 120 percent of the area median income; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B)</num><clause class="inline" style="-uslm-dtd:clause" styleType="OLC"><num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">is owned by the residents of the manufactured housing community through a resident-controlled entity such as a resident-owned cooperative; or</content></clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">will be maintained as such a community, and remain affordable for low- and moderate-income persons, to the maximum extent practicable and for the longest period feasible.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Eligible recipient.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">eligible recipient</quotedText>’ means—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">an eligible manufactured housing community;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">a unit of general local government;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">a housing authority;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">a resident-owned community;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">a resident-owned cooperative;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">“(F) </num><content style="-uslm-dtd:text">a nonprofit entity with housing expertise or a consortium of such entities;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">“(G) </num><content style="-uslm-dtd:text">a community development financial institution;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">“(H) </num><content style="-uslm-dtd:text">an Indian tribe;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">a tribally designated housing entity;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="J">“(J) </num><content style="-uslm-dtd:text">the Department of Hawaiian Home Lands;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="K">“(K) </num><content style="-uslm-dtd:text">a State; or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="L">“(L) </num><chapeau style="-uslm-dtd:text">any other entity that is—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">an owner-operator of an eligible manufactured housing community; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">working with an eligible manufactured housing community.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Indian tribe.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">Indian tribe</quotedText>’ has the meaning given the term ‘<quotedText style="-uslm-dtd:quote">Indian tribe</quotedText>’ in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4103).</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Manufactured housing community.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">manufactured housing community</quotedText>’ means—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><chapeau style="-uslm-dtd:text">any community, court, park, or other land under unified ownership developed and accommodating, or equipped to accommodate, the placement of manufactured homes, where—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">spaces within such community are or will be primarily used for residential occupancy;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">all homes within the community are used for permanent occupancy; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">a majority of such occupied spaces within the community are occupied by manufactured homes, which may include homes constructed prior to enactment of the Manufactured Home Construction and Safety Standards; or</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">any community that meets the definition of manufactured housing community used for programs similar to the program under this section.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">“(6) </num><heading style="-uslm-dtd:header">Resident health, safety, and accessibility activities.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">resident health, safety, and accessibility activities</quotedText>’ means the reconstruction, repair, or replacement of manufactured housing and manufactured housing communities to—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">protect the health and safety of residents;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">address weatherization and reduce utility costs; or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">address accessibility needs for residents with disabilities.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">“(7) </num><heading style="-uslm-dtd:header">Tribally designated housing entity.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">tribally designated housing entity</quotedText>’ has the meaning given the term in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4103).</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Establishment.—</heading><content style="-uslm-dtd:text">There is authorized a competitive grant program that the Secretary shall, by notice, carry out to make awards utilizing funds appropriated for such purpose to eligible recipients to carry out eligible projects for development of or improvements to eligible manufactured housing communities.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Eligible Projects.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Amounts from grants under this section may be used for—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">community infrastructure, facilities, utilities, and other land improvements in or serving an eligible manufactured housing community;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">reconstruction or repair of existing housing within an eligible manufactured housing community;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">replacement of homes within an eligible manufactured housing community;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">planning;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">resident health, safety, and accessibility activities in homes in an eligible manufactured housing community;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">“(F) </num><content style="-uslm-dtd:text">land and site acquisition and infrastructure for expansion or construction of an eligible manufactured housing community;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">“(G) </num><content style="-uslm-dtd:text">resident and community services, including relocation assistance, eviction prevention, and down payment assistance; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">“(H) </num><chapeau style="-uslm-dtd:text">any other activity that—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">is approved by the Secretary consistent with the requirements under this section;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">improves the overall living conditions of an eligible manufactured housing community, which may include the addition or enhancement of shared spaces such as community centers, recreational areas, or other facilities that support resident well-being and community engagement; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">is necessary to protect the health and safety of the residents of the eligible manufactured housing community and the long-term affordability and sustainability of the community.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Replacement.—</heading><chapeau style="-uslm-dtd:text">For purposes of subparagraphs (B) and (C) of paragraph (1), grants under this section—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">may not be used for rehabilitation or modernization of units that were built before June 15, 1976; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">may only be used for disposition and replacement of units described in subparagraph (A), provided that any replacement housing complies with the Manufactured Home Construction and Safety Standards or is another allowed type of home, as determined by the Secretary.</content> </subparagraph> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">“(d) </num><heading style="-uslm-dtd:header">Priority.—</heading><content style="-uslm-dtd:text">In awarding grants under this section, the Secretary shall prioritize applicants that will carry out activities that primarily benefit low- and moderate-income residents and preserve long-term housing affordability for residents of eligible manufactured housing communities.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">“(e) </num><heading style="-uslm-dtd:header">Waivers.—</heading><content style="-uslm-dtd:text">The Secretary may waive or specify alternative requirements for any provision of law or regulation that the Secretary administers in connection with use of amounts made available under this section other than requirements related to fair housing, nondiscrimination, labor standards, and the environment, upon a finding that the waiver or alternative requirement is not inconsistent with the overall purposes of this section and that the waiver or alternative requirement is necessary to facilitate the use of amounts made available under this section.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">“(f) </num><heading style="-uslm-dtd:header">Implementation.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Any grant made under this section shall be made pursuant to criteria for selection of recipients of such grants that the Secretary shall by regulation establish and publish together with any notification of availability of amounts under this section.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Set-aside of grant amounts.—</heading><content style="-uslm-dtd:text">The Secretary may set aside amounts provided under this section for grants to Indian tribes, tribally designated housing entities, and the Department of Hawaiian Home Lands.</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">“(g) </num><heading style="-uslm-dtd:header">Sunset.—</heading><content style="-uslm-dtd:text">The program established under this section shall terminate on the date that is 7 years after the date of enactment of this section.”</content> </subsection> </section></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIII/s304/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s5323">42 U.S.C. 5323 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Application.—</heading><content style="-uslm-dtd:text">Grants made under section 123 of the Housing and Community Development Act of 1974, as added by subsection (a), after the date of enactment of this Act shall be carried out using amounts appropriated after the date of enactment of this Act.</content> </subsection> </section> <num style="-uslm-dtd:enum" value="IV">TITLE IV—</num><heading style="-uslm-dtd:header">ACCESSING THE AMERICAN DREAM </heading> <section identifier="/us/sComp/119/101/tIV/s401" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="401">SEC. 401. </num><heading style="-uslm-dtd:header">CREATING INCENTIVES FOR SMALL-DOLLAR LOAN ORIGINATORS. </heading> <subsection identifier="/us/sComp/119/101/tIV/s401/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tIV/s401/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Director.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Director</quotedText>” means the Director of the Bureau of Consumer Financial Protection.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s401/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Small-dollar mortgage.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">small-dollar mortgage</quotedText>” means a mortgage loan having an original principal obligation of not more than $100,000 that is—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIV/s401/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">secured by real property designed for 1 to 4 dwelling units; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIV/s401/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B)</num><clause class="inline" identifier="/us/sComp/119/101/tIV/s401/a/2/B/i" style="-uslm-dtd:clause" styleType="OLC"><num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">insured by the Federal Housing Administration under title II of the National Housing Act (12 U.S.C. 1707 et seq.);</content></clause> <clause identifier="/us/sComp/119/101/tIV/s401/a/2/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">made, guaranteed, or insured by the Department of Veterans Affairs;</content> </clause> <clause identifier="/us/sComp/119/101/tIV/s401/a/2/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">made, guaranteed, or insured by the Department of Agriculture; or</content> </clause> <clause identifier="/us/sComp/119/101/tIV/s401/a/2/B/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">eligible to be purchased or securitized by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association.</content> </clause> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIV/s401/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Requirement Regarding Loan Originator Compensation Practices.—</heading><chapeau style="-uslm-dtd:text">Not later than 270 days after the date of enactment of this Act, the Director shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on loan originator compensation practices throughout the residential mortgage market, including the relative frequency of loan originators being compensated—</chapeau> <paragraph identifier="/us/sComp/119/101/tIV/s401/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">with a salary;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s401/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">with a commission reflecting a fixed percentage of the amount of credit extended;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s401/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">with a commission based on a factor other than a fixed percentage of the amount of credit extended;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s401/b/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">with a combination of salary and commission;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s401/b/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">on a loan volume basis; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s401/b/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">with a commission reflecting a percentage of the amount of credit extended, for which a minimum or maximum compensation amount is set.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIV/s401/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Community Development Financial Institution Loan Originators.—</heading><content style="-uslm-dtd:text">In carrying out the report required under subsection (b), the Secretary shall, in coordination with relevant Federal agencies that regulate federally backed small-dollar mortgages and in consultation with the Director of the Community Development Financial Institutions Fund established under section 104 of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4703), give due consideration to the practices for compensating loan originators that are employed by or originate loans on behalf of community development financial institutions.</content> </subsection> <subsection identifier="/us/sComp/119/101/tIV/s401/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Contents.—</heading><chapeau style="-uslm-dtd:text">The report required under subsection (b) shall include—</chapeau> <paragraph identifier="/us/sComp/119/101/tIV/s401/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">data and other analyses regarding the effect of the approaches to loan originator compensation described in subsection (b) on the availability of small-dollar mortgage loans; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s401/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">an analysis and a discussion regarding potential barriers to small-dollar mortgage lending.</content> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tIV/s402" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="402">SEC. 402. </num><heading style="-uslm-dtd:header">SMALL-DOLLAR MORTGAGE POINTS AND FEES. </heading> <subsection identifier="/us/sComp/119/101/tIV/s402/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Small-dollar Mortgage Defined.—</heading><content style="-uslm-dtd:text">In this section, the term “<quotedText style="-uslm-dtd:quote">small-dollar mortgage</quotedText>” means a mortgage with an original principal obligation of less than $100,000.</content> </subsection> <subsection identifier="/us/sComp/119/101/tIV/s402/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Amendments.—</heading><content style="-uslm-dtd:text">Not later than 270 days after the date of enactment of this Act, the Director of the Bureau of Consumer Financial Protection, in consultation with the Secretary of Housing and Urban Development and the Director of the Federal Housing Finance Agency, shall evaluate the impact of the thresholds under section 1026.43 of title 12, Code of Federal Regulations (as in effect on the date of enactment of this Act), on small-dollar mortgage originations.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tIV/s403" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="403">SEC. 403. </num><heading style="-uslm-dtd:header">APPRAISAL INDUSTRY IMPROVEMENT ACT. </heading> <subsection identifier="/us/sComp/119/101/tIV/s403/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Appraisal Standards.—</heading> <paragraph identifier="/us/sComp/119/101/tIV/s403/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Certification or licensing.—</heading> <subparagraph identifier="/us/sComp/119/101/tIV/s403/a/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Section 202(g)(5) of the National Housing Act (12 U.S.C. 1708(g)(5)) is amended—</chapeau> <clause identifier="/us/sComp/119/101/tIV/s403/a/1/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">by moving the paragraph two ems to the left; and</content> </clause> <clause identifier="/us/sComp/119/101/tIV/s403/a/1/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by striking subparagraphs (A) and (B) and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">be certified or licensed by the State in which the property to be appraised is located, except that a Federal employee who has as their primary duty conducting appraisal-related activities and who chooses to become a State-licensed or certified real estate appraiser need only to be licensed or certified in 1 State or territory to perform appraisals on mortgages insured by the Federal Housing Administration in all States and territories;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">meet the requirements under the competency rule set forth in the Uniform Standards of Professional Appraisal Practice before accepting an assignment; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><chapeau style="-uslm-dtd:text">have demonstrated verifiable education in the appraisal requirements established by the Federal Housing Administration under this subsection, which shall include the completion of a course or seminar that educates appraisers on those appraisal requirements, which shall be provided by—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">the Federal Housing Administration; or</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">a third party, if the course is approved by the Secretary or a State appraiser certifying or licensing agency.”</content> </clause> </subparagraph></quotedContent>.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIV/s403/a/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s1708">12 U.S.C. 1708 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Application.—</heading><content style="-uslm-dtd:text">Subparagraph (C) of section 202(g)(5) of the National Housing Act (12 U.S.C. 1708(g)(5)), as added by subparagraph (A), shall not apply with respect to any certified appraiser approved by the Federal Housing Administration to conduct appraisals on property securing a mortgage to be insured by the Federal Housing Administration on or before the effective date described in paragraph (3)(C).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s403/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s1708">12 U.S.C. 1708 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Compliance with verifiable education and competency requirements.—</heading><chapeau style="-uslm-dtd:text">On and after the effective date described in paragraph (3)(C), no appraiser may conduct an appraisal on a property securing a mortgage to be insured by the Federal Housing Administration unless—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIV/s403/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the appraiser is in compliance with the requirements of subparagraphs (A) and (B) of section 202(g)(5) of the National Housing Act (12 U.S.C. 1708(g)(5)), as amended by paragraph (1); and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIV/s403/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">if the appraiser was not approved by the Federal Housing Administration to conduct appraisals on mortgages insured by the Federal Housing Administration before the date on which the mortgagee letter or guidance takes effect under paragraph (3)(C), the appraiser is in compliance with subparagraph (C) of such section 202(g)(5).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s403/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s1708">12 U.S.C. 1708 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Implementation.—</heading><chapeau style="-uslm-dtd:text">Not later than the 240 days after the date of enactment of this Act, the Secretary of Housing and Urban Development shall issue a mortgagee letter or guidance that—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIV/s403/a/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">implements the amendments made by paragraph (1);</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIV/s403/a/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">clearly sets forth all of the specific requirements under section 202(g)(5) of the National Housing Act (12 U.S.C. 1708(g)(5)), as amended by paragraph (1), for approval to conduct appraisals on property secured by a mortgage to be insured by the Federal Housing Administration, which shall include—</chapeau> <clause identifier="/us/sComp/119/101/tIV/s403/a/3/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">providing that, before the effective date of the mortgagee letter or guidance, compliance with the requirements under subparagraphs (A), (B), and (C) of such section 202(g)(5), as amended by paragraph (1), shall be considered to fulfill the requirements under such subparagraphs; and</content> </clause> <clause identifier="/us/sComp/119/101/tIV/s403/a/3/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">providing a method for appraisers to demonstrate such prior compliance; and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIV/s403/a/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">takes effect not later than the date that is 180 days after the date on which the Secretary issues the mortgagee letter or guidance.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIV/s403/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Annual Registry Fees for Appraisal Management Companies.—</heading><content style="-uslm-dtd:text">Section 1109(a) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3338(a)) is amended, in the matter following clause (ii) of paragraph (4)(B), by adding at the end the following:“<quotedText style="-uslm-dtd:quote">Subject to the approval of the Council, the Appraisal Subcommittee may adjust fees established under clause (i) or (ii) to carry out its functions under this Act.</quotedText>”.</content> </subsection> <subsection identifier="/us/sComp/119/101/tIV/s403/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">State Credentialed Trainees.—</heading> <paragraph identifier="/us/sComp/119/101/tIV/s403/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Maintenance on national registry.—</heading><chapeau style="-uslm-dtd:text">Section 1103(a) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3332(a)) is amended—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIV/s403/c/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">in paragraph (3)—</chapeau> <clause identifier="/us/sComp/119/101/tIV/s403/c/1/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">and State credentialed trainee appraisers</quotedText>” after “<quotedText style="-uslm-dtd:quote">licensed appraisers</quotedText>”; and</content> </clause> <clause identifier="/us/sComp/119/101/tIV/s403/c/1/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIV/s403/c/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking paragraph (4);</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIV/s403/c/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by redesignating paragraphs (5) and (6) as paragraphs (4) and (5), respectively; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIV/s403/c/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><chapeau style="-uslm-dtd:text">in paragraph (4), as so redesignated—</chapeau> <clause identifier="/us/sComp/119/101/tIV/s403/c/1/D/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">year. The report shall also detail</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">year, detailing</quotedText>”;</content> </clause> <clause identifier="/us/sComp/119/101/tIV/s403/c/1/D/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">provide</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">provides</quotedText>”; and</content> </clause> <clause identifier="/us/sComp/119/101/tIV/s403/c/1/D/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s403/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Annual registry fees.—</heading> <subparagraph identifier="/us/sComp/119/101/tIV/s403/c/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Section 1109 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3338) is amended—</chapeau> <clause identifier="/us/sComp/119/101/tIV/s403/c/2/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">in the section heading, by striking “<quotedText style="-uslm-dtd:quote">certified or licensed</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">, certified, licensed, and credentialed trainee</quotedText>”; and</content> </clause> <clause identifier="/us/sComp/119/101/tIV/s403/c/2/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><chapeau style="-uslm-dtd:text">in subsection (a)—</chapeau> <subclause identifier="/us/sComp/119/101/tIV/s403/c/2/A/ii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">in paragraph (1), by inserting “<quotedText style="-uslm-dtd:quote">, and in the case of a State with a supervisory or trainee program, a roster listing individuals who have received a State trainee credential</quotedText>” after “<quotedText style="-uslm-dtd:quote">this title</quotedText>”; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tIV/s403/c/2/A/ii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">by striking paragraph (2) and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">transmit reports on the issuance and renewal of licenses, certifications, credentials, sanctions, and disciplinary actions, including license, credential, and certification revocations, on a timely basis to the national registry of the Appraisal Subcommittee;”</content> </paragraph></quotedContent>.</content> </subclause> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIV/s403/c/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s3338">12 U.S.C. 3338 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Rule of construction.—</heading><content style="-uslm-dtd:text">Nothing in the amendments made by subparagraph (A) shall require a State to establish or operate a program for State credentialed trainee appraisers, as defined in paragraph (12) of section 1121 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as added by paragraph (4) of this subsection.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s403/c/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Transactions requiring the services of a state certified appraiser.—</heading><chapeau style="-uslm-dtd:text">Section 1113 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3342) is amended—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIV/s403/c/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">In determining</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">(a) In General.—In determining</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIV/s403/c/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Use of State Credentialed Trainee Appraisers.—</heading><content style="-uslm-dtd:text">In performing an appraisal under this section, a State certified appraiser may use the assistance of a State credentialed trainee appraiser or an unlicensed trainee appraiser, except that the State certified appraiser assisted by a trainee shall be liable for appraisal and valuation work.”</content> </subsection></quotedContent>.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s403/c/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Definition.—</heading><content style="-uslm-dtd:text">Section 1121 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3350) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="12">“(12) </num><heading style="-uslm-dtd:header">State credentialed trainee appraiser.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">State credentialed trainee appraiser</quotedText>’ means an individual who—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">meets the minimum criteria established by the Appraiser Qualification Board for a trainee appraiser credential; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">is credentialed by a State appraiser certifying and licensing agency.”</content> </subparagraph> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIV/s403/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Grants for Workforce and Training.—</heading><chapeau style="-uslm-dtd:text">Section 1109(b) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3338(b)) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tIV/s403/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (5)(B), by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s403/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (6), by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIV/s403/d/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">“(7) </num><content style="-uslm-dtd:text">to make grants to State appraiser certifying and licensing agencies and post-secondary institutions, including trade and polytechnic schools, to support the carrying out of education and training activities or other activities related to addressing appraiser industry workforce needs, including recruiting and retaining workforce talent, such as through scholarship assistance and career pipeline development, and such agencies shall report on the use of funds and outcomes.”</content> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIV/s403/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Appraisal Subcommittee.—</heading><content style="-uslm-dtd:text">Section 1011 of the Federal Financial Institutions Examination Council Act of 1978 (12 U.S.C. 3310) is amended, in the first sentence, by inserting “<quotedText style="-uslm-dtd:quote">the Department of Veterans Affairs, the Rural Housing Service of the Department of Agriculture, the Department of Housing and Urban Development,</quotedText>” after “<quotedText style="-uslm-dtd:quote">Financial Protection,</quotedText>”.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tIV/s404" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="404">SEC. 404. </num><heading style="-uslm-dtd:header">HELPING MORE FAMILIES SAVE ACT. </heading> <content class="block" style="-uslm-dtd:text">Section 23 of the United States Housing Act of 1937 (42 U.S.C. 1437u) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="p">“(p) </num><heading style="-uslm-dtd:header">Escrow Expansion Pilot Program.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this subsection:</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Covered family.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">covered family</quotedText>’ means a family that receives assistance under section 8 or 9 of this Act and is enrolled in the Pilot Program.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Eligible entity.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">eligible entity</quotedText>’ means an entity described in subsection (c)(2).</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Pilot program.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">Pilot Program</quotedText>’ means the Pilot Program established under paragraph (2).</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Welfare assistance.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">welfare assistance</quotedText>’ has the meaning given the term in section 984.103 of title 24, Code of Federal Regulations, or any successor regulation.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Establishment.—</heading><content style="-uslm-dtd:text">The Secretary may establish a pilot program under which the Secretary shall select not more than 25 eligible entities to establish and manage escrow accounts for not more than 5,000 covered families, in accordance with this subsection.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Escrow accounts.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">An eligible entity selected to participate in the Pilot Program—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">shall establish an interest-bearing escrow account and place into the account an amount equal to any increase in the amount of rent paid by each covered family in accordance with the provisions of section 3, 8(o), or 8(y), as applicable, that is attributable to increases in earned income by the covered families during the participation of each covered family in the Pilot Program; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">notwithstanding any other provision of law, may use funds it controls under section 8 or 9 for purposes of making the escrow deposit for covered families assisted under, or residing in units assisted under, section 8 or 9, respectively, provided such funds are offset by the increase in the amount of rent paid by the covered family.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Income limitation.—</heading><content style="-uslm-dtd:text">An eligible entity may not escrow any amounts for any covered family whose adjusted income exceeds 80 percent of the area median income at the time of enrollment.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Withdrawals.—</heading><chapeau style="-uslm-dtd:text">A covered family may withdraw funds, including interest earned, from an escrow account established by an eligible entity under the Pilot Program—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">after the covered family ceases to receive welfare assistance; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii)</num><subclause class="inline" style="-uslm-dtd:subclause" styleType="OLC"><num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">not earlier than the date that is 5 years after the date on which the eligible entity establishes the escrow account under this subsection;</content></subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">not later than the date that is 7 years after the date on which the eligible entity establishes the escrow account under this subsection, if the covered family chooses to continue to participate in the Pilot Program after the date that is 5 years after the date on which the eligible entity establishes the escrow account;</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">on the date the covered family ceases to receive housing assistance under section 8 or 9, if such date is earlier than 5 years after the date on which the eligible entity establishes the escrow account;</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="IV">“(IV) </num><content style="-uslm-dtd:text">earlier than 5 years after the date on which the eligible entity establishes the escrow account, if the covered family is using the funds to advance a self-sufficiency goal as approved by the eligible entity;</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="V">“(V) </num><content style="-uslm-dtd:text">for any reason listed under section 984.303(k) of title 24, Code of Federal Regulations; or</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="VI">“(VI) </num><content style="-uslm-dtd:text">under other circumstances in which the Secretary determines an exemption for good cause is warranted.</content> </subclause> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Interim recertification.—</heading><content style="-uslm-dtd:text">For purposes of the Pilot Program, a covered family may recertify the income of the covered family multiple times per year at the request of the participating family, as determined by the Secretary, and not less frequently than once per year, unless the eligible entity has established an alternative rent structure with approval from the Secretary.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><heading style="-uslm-dtd:header">Contract or plan.—</heading><content style="-uslm-dtd:text">A covered family is not required to complete a standard contract of participation or an individual training and services plan in order to participate in the Pilot Program.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Effect of increases in family income.—</heading><content style="-uslm-dtd:text">Any increase in the earned income of a covered family during the enrollment of the family in the Pilot Program may not be considered as income or a resource for purposes of eligibility of the family for other benefits, or amount of benefits payable to the family, under any program administered by the Secretary.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Application.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">An eligible entity seeking to participate in the Pilot Program shall submit to the Secretary an application—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">at such time, in such manner, and containing such information as the Secretary may require by notice; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">that includes the number of proposed covered families to be served by the eligible entity under this subsection.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Geographic and entity variety.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall ensure that eligible entities selected to participate in the Pilot Program—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">are located across various States and in both urban and rural areas; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">vary by size and type, including both public housing agencies and private owners of projects receiving project-based rental assistance under section 8.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">“(6) </num><heading style="-uslm-dtd:header">Notification and opt-out.—</heading><chapeau style="-uslm-dtd:text">An eligible entity participating in the Pilot Program shall—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">notify covered families of their enrollment in the Pilot Program;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">provide covered families with a detailed description of the Pilot Program, including how the Pilot Program will impact their rent and finances;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">inform covered families that the families cannot simultaneously participate in the Pilot Program and the Family Self-Sufficiency program under this section; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><chapeau style="-uslm-dtd:text">provide covered families with the ability to elect not to participate in the Pilot Program—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">not less than 2 weeks before the date on which the escrow account is established under paragraph (3); and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">at any point during the duration of the Pilot Program.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">“(7) </num><heading style="-uslm-dtd:header">Maximum rents.—</heading><content style="-uslm-dtd:text">During the term of participation by a covered family in the Pilot Program, the amount of rent paid by the covered family shall be calculated under the rental provisions of section 3 or 8(o), as applicable.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">“(8) </num><heading style="-uslm-dtd:header">Pilot program timeline.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Awards.—</heading><content style="-uslm-dtd:text">Not later than 1 year after establishing the Pilot Program, the Secretary shall select the eligible entities to participate in the Pilot Program.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Establishment and term of accounts.—</heading><chapeau style="-uslm-dtd:text">An eligible entity selected to participate in the Pilot Program shall—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">not later than 6 months after selection, establish escrow accounts under paragraph (3) for covered families; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">maintain those escrow accounts for not less than 5 years, or until a determination is made for termination with FSS escrow disbursement under section 984.303(k) of title 24, Code of Federal Regulations, or until the date the family ceases to receive assistance under section 8 or 9, and, at the discretion of the covered family, not more than 7 years after the date on which the escrow account is established.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="9">“(9) </num><heading style="-uslm-dtd:header">Nonparticipation and housing assistance.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Assistance under section 8 or 9 for a family that elects not to participate in the Pilot Program shall not be delayed or denied by reason of such election.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">No termination.—</heading><content style="-uslm-dtd:text">Housing assistance may not be terminated as a consequence of participating, or not participating, in the Pilot Program under this subsection for any period.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="10">“(10) </num><heading style="-uslm-dtd:header">Study.—</heading><content style="-uslm-dtd:text">Not later than 10 years after the date the Secretary selects eligible entities to participate in the Pilot Program under this subsection, the Secretary shall, if awards were made, conduct a study and submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on outcomes for covered families under the Pilot Program, which shall evaluate the effectiveness of the Pilot Program in assisting families to achieve economic independence and self-sufficiency, and the impact coaching and supportive services, or the lack thereof, had on individual incomes.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="11">“(11) </num><heading style="-uslm-dtd:header">Waivers.—</heading><content style="-uslm-dtd:text">To allow selected eligible entities to effectively administer the Pilot Program and make the required escrow account deposits under this subsection, the Secretary may waive requirements under this section.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="12">“(12) </num><heading style="-uslm-dtd:header">Termination.—</heading><content style="-uslm-dtd:text">The Pilot Program under this subsection shall terminate on the date that is 10 years after the date of enactment of this subsection.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="13">“(13) </num><heading style="-uslm-dtd:header">Eligible uses of appropriations.—</heading><chapeau style="-uslm-dtd:text">Subject to the appropriation of funds, the Secretary may use funds—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">for technical assistance related to implementation of the Pilot Program; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">to carry out an evaluation of the Pilot Program under paragraph (10).”</content> </subparagraph> </paragraph> </subsection></quotedContent>.</content> </section> <section identifier="/us/sComp/119/101/tIV/s405" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="405">SEC. 405. </num><heading style="-uslm-dtd:header">CHOICE IN AFFORDABLE HOUSING ACT. </heading> <subsection identifier="/us/sComp/119/101/tIV/s405/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Satisfaction of Inspection Requirements Through Participation in Other Housing Programs.—</heading><content style="-uslm-dtd:text">Section 8(o)(8) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)(8)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><heading style="-uslm-dtd:header">Satisfaction of inspection requirements through participation in other housing programs.—</heading> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Low-income housing tax credit-financed buildings.—</heading><chapeau style="-uslm-dtd:text">A dwelling unit shall be deemed to meet the inspection requirements under this paragraph if—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">the dwelling unit is in a building, the acquisition, rehabilitation, or construction of which was done by a building owner who may be eligible for low-income housing credits because the building had been allocated a housing credit dollar amount under section 42(h) of the Internal Revenue Code of 1986 or is described in section 42(h)(4) of such Code (concerning buildings that meet a criterion for a certain amount of tax-exempt financing);</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">the dwelling unit, during the preceding 12-month period, was physically inspected and satisfied the suitability-for-occupancy requirement in section 42(i)(3)(B)(ii) of such Code; and</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">the applicable public housing agency performed the inspection itself or is able to obtain the results of the inspection described in subclause (II).</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Home investment partnerships program.—</heading><chapeau style="-uslm-dtd:text">A dwelling shall be deemed to meet the inspection requirements under this paragraph if—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">the dwelling unit is assisted under the HOME Investment Partnerships Program under title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.);</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">the dwelling unit was physically inspected and passed inspection as part of the program described in subclause (I) during the preceding 12-month period; and</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">the applicable public housing agency is able to obtain the results of the inspection described in subclause (II).</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><heading style="-uslm-dtd:header">Rural housing service.—</heading><chapeau style="-uslm-dtd:text">A dwelling unit shall be deemed to meet the inspection requirements under this paragraph if—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">the dwelling unit is assisted by the Rural Housing Service of the Department of Agriculture;</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">the dwelling unit was physically inspected and passed inspection in connection with the assistance described in subclause (I) during the preceding 12-month period; and</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">the applicable public housing agency is able to obtain the results of the inspection described in subclause (II).</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">“(iv) </num><heading style="-uslm-dtd:header">Remote or video inspections.—</heading><chapeau style="-uslm-dtd:text">When complying with inspection requirements for a housing unit located in a rural or small area using assistance under this section, the Secretary may allow a grantee to conduct a remote or video inspection of a unit if the remote or video inspection—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">is thorough;</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">does not misrepresent the condition of the unit; and</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">provides the information necessary to fully and accurately evaluate the conditions of the unit to ensure that the unit meets the relevant standards.</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">“(v) </num><heading style="-uslm-dtd:header">Rule of construction.—</heading><content style="-uslm-dtd:text">Nothing in clause (i), (ii), (iii), or (iv) shall be construed to affect the operation of a housing program described in, or authorized under a provision of law described in, that clause.”</content> </clause> </subparagraph></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tIV/s405/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Pre-approval of Units.—</heading><content style="-uslm-dtd:text">Section 8(o)(8)(A) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)(8)(A)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">“(iv) </num><heading style="-uslm-dtd:header">Initial inspection prior to lease agreement.—</heading> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><heading style="-uslm-dtd:header">Definition.—</heading><content style="-uslm-dtd:text">In this clause, the term ‘<quotedText style="-uslm-dtd:quote">new landlord</quotedText>’ means an owner of a dwelling unit who has not previously entered into a housing assistance payment contract with a public housing agency under this subsection for any dwelling unit.</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><heading style="-uslm-dtd:header">Early inspection.—</heading><content style="-uslm-dtd:text">Upon the request of a new landlord, a public housing agency may inspect the dwelling unit owned by the new landlord to determine whether the unit meets the housing quality standards under subparagraph (B) before the unit is selected by a tenant assisted under this subsection.</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">“(III) </num><heading style="-uslm-dtd:header">Effect.—</heading><content style="-uslm-dtd:text">An inspection conducted under subclause (II) that determines that the dwelling unit meets the housing quality standards under subparagraph (B) shall satisfy this subparagraph and subparagraph (C) if the new landlord enters into a lease agreement with a tenant assisted under this subsection not later than 60 days after the date of the inspection.</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="IV">“(IV) </num><heading style="-uslm-dtd:header">Information when family is selected.—</heading><content style="-uslm-dtd:text">When a public housing agency selects a family to participate in the tenant-based assistance program under this subsection, the public housing agency shall include in the information provided to the family a list of dwelling units that have been inspected under subclause (II) and determined to meet the housing quality standards under subparagraph (B).”</content> </subclause> </clause></quotedContent>.</content> </subsection> </section> <num style="-uslm-dtd:enum" value="V">TITLE V—</num><heading style="-uslm-dtd:header">PROGRAM REFORM </heading> <section identifier="/us/sComp/119/101/tV/s501" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="501">SEC. 501. </num><heading style="-uslm-dtd:header">HOME INVESTMENT PARTNERSHIPS REAUTHORIZATION AND REFORM ACT. </heading> <subsection identifier="/us/sComp/119/101/tV/s501/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Authorization.—</heading><content style="-uslm-dtd:text">Section 205 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12724) is amended to read as follows:<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="205">“SEC. 205. </num><heading style="-uslm-dtd:header">AUTHORIZATION OF PROGRAM </heading> <content class="block" style="-uslm-dtd:text">“The HOME Investment Partnerships Program under subtitle A is hereby authorized.”</content> </section></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Definition of Community Housing Development Organization.—</heading><content style="-uslm-dtd:text">Section 104(6)(B) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704(6)(B)) is amended by striking “<quotedText style="-uslm-dtd:quote">significant</quotedText>”.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Assistance for Low-income Families.—</heading><chapeau style="-uslm-dtd:text">Title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s501/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s12744">42 U.S.C. 12744</ref><b>]</b> </editorialNote><content style="-uslm-dtd:text">in section 214(2) (42 U.S.C. 12742(2)), by striking “<quotedText style="-uslm-dtd:quote">households that qualify as low-income families</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">families with a household income that does not exceed 100 percent of the median family income of the area, as determined by the Secretary</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in section 271(c) (42 U.S.C. 12821(c))—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/c/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in paragraph (1)(B), by striking “<quotedText style="-uslm-dtd:quote">low-income</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">families with a household income that does not exceed 100 percent of the median family income of the area as determined by the Secretary with adjustments for smaller and larger families</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/c/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in paragraph (2)(A), by striking “<quotedText style="-uslm-dtd:quote">low-income families</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">families with a household income that does not exceed 100 percent of the median family income of the area as determined by the Secretary with adjustments for smaller and larger families</quotedText>”.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Choices Made by Participating Jurisdictions.—</heading><content style="-uslm-dtd:text">Section 212(a)(2) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12742(a)(2)) is amended to read as follows:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Limitation.—</heading><content style="-uslm-dtd:text">The Secretary may not restrict the choice by a participating jurisdiction of rehabilitation, substantial rehabilitation, new construction, reconstruction, acquisition, or other eligible housing uses authorized in paragraph (1) unless the restriction is explicitly authorized under section 223(2).”</content> </paragraph></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Use of Amounts by Certain Jurisdictions for Infrastructure Improvements.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s501/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Section 212(a) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12742(a)) is amended by inserting after paragraph (3) the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Infrastructure improvements in nonentitlement areas.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">A participating jurisdiction may use funds provided under this subtitle for infrastructure improvements, including the installation or repair of water and sewer lines, sidewalks, roads, and utility connections if—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">such participating jurisdiction does not receive assistance under title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5310); and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><chapeau style="-uslm-dtd:text">such improvements are directly related to, and located within or immediately adjacent to—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">housing assisted under this subtitle; or</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">housing assisted under section 42 of the Internal Revenue Code of 1986.</content> </subclause> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Application of labor standards.—</heading><content style="-uslm-dtd:text">The labor standards and requirements set forth in section 110 of the Housing and Community Development Act of 1974 (42 U.S.C. 5310) shall apply to any infrastructure improvement conducted using funds provided under this subtitle.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Rule of construction.—</heading><content style="-uslm-dtd:text">Nothing in this paragraph may be construed to impose any requirements of the HOME Investment Partnerships program on housing that benefits from an infrastructure improvement conducted using funds provided under this subtitle but was not otherwise assisted under the HOME Investment Partnerships program.”</content> </subparagraph> </paragraph></quotedContent>.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s12742">42 U.S.C. 12742 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Rulemaking.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Secretary of Housing and Urban Development shall issue rules to carry out the amendment made by paragraph (1).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/f" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Per Unit Investment Limitations.—</heading><content style="-uslm-dtd:text">Section 212(e)(1) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12742(e)(1)) is amended by striking the second sentence.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/g" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Affordable Rental Housing Qualifications.—</heading><content style="-uslm-dtd:text">Section 215(a) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12745(a)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">“(7) </num><heading style="-uslm-dtd:header">Qualification exception.—</heading><chapeau style="-uslm-dtd:text">Notwithstanding paragraph (1)(A), a rental unit shall be considered to qualify as affordable housing under this title if—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the unit is occupied by a tenant receiving tenant-based rental assistance under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f);</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the contribution of the tenant toward rent does not exceed the amount permitted under the assistance described in subparagraph (A); and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">the total rent for the unit does not exceed the amount approved by the public housing agency administering the assistance described in subparagraph (A).”</content> </subparagraph> </paragraph></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/h" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="h">(h) </num><heading style="-uslm-dtd:header">Affordable Home-ownership Housing Qualifications.—</heading><chapeau style="-uslm-dtd:text">Section 215 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12745) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s501/h/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">in subsection (b)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/h/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in paragraph (2), by redesignating subparagraphs (A), (B), and (C) as clauses (i), (ii), and (iii), respectively, and adjusting the margins accordingly;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/h/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">in paragraph (3)—</chapeau> <clause identifier="/us/sComp/119/101/tV/s501/h/1/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">in subparagraph (A), by redesignating clauses (i) and (ii) as subclauses (I) and (II), respectively, and adjusting the margins accordingly; and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s501/h/1/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and adjusting the margins accordingly;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/h/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by redesignating paragraphs (1) through (4) as subparagraphs (A) through (D), respectively, and adjusting the margins accordingly;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/h/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Housing that is for home-ownership</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Qualification.—</heading><content style="-uslm-dtd:text">Housing that is for home-ownership”</content> </paragraph></quotedContent>;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/h/1/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><chapeau style="-uslm-dtd:text">in paragraph (1), as so designated—</chapeau> <clause identifier="/us/sComp/119/101/tV/s501/h/1/E/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">in subparagraph (A), as so redesignated—</chapeau> <subclause identifier="/us/sComp/119/101/tV/s501/h/1/E/i/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">95 percent</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">110 percent</quotedText>”; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s501/h/1/E/i/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">(defined as the amount borrowed by the homebuyer to purchase the home, or the estimated value after rehabilitation, which may be adjusted to account for the limits on future value imposed by the resale restriction)</quotedText>” after “<quotedText style="-uslm-dtd:quote">purchase price</quotedText>”;</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tV/s501/h/1/E/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">in subparagraph (B), as so redesignated, in the matter preceding clause (i), by striking “<quotedText style="-uslm-dtd:quote">whose family qualifies as a low-income family</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">with a family income that does not exceed 100 percent of the median family income of the area as determined by the Secretary with adjustments for smaller and larger families</quotedText>”;</content> </clause> <clause identifier="/us/sComp/119/101/tV/s501/h/1/E/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><chapeau style="-uslm-dtd:text">in subparagraph (C), as so redesignated—</chapeau> <subclause identifier="/us/sComp/119/101/tV/s501/h/1/E/iii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><chapeau style="-uslm-dtd:text">in clause (i)(II)—</chapeau> <item identifier="/us/sComp/119/101/tV/s501/h/1/E/iii/I/aa" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">low-income home-buyers</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">home-buyers with a household income that does not exceed 100 percent of the median family income of the area, as determined by the Secretary with adjustments for smaller and larger families</quotedText>”; and</content> </item> <item identifier="/us/sComp/119/101/tV/s501/h/1/E/iii/I/bb" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">or</quotedText>” at the end;</content> </item> </subclause> <subclause identifier="/us/sComp/119/101/tV/s501/h/1/E/iii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">in clause (ii), by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end and inserting “<quotedText style="-uslm-dtd:quote">or</quotedText>”; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s501/h/1/E/iii/III" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">maintain long-term affordability through a shared equity ownership model, a community land trust, a limited equity cooperative, a community development corporation, or other mechanism approved by the Secretary, that preserves affordability for future eligible home-buyers and ensures compliance with the purposes of this title, including through the use of purchase options, rights of first refusal, or other preemptive rights to purchase housing;”</content> </subsection></quotedContent>;</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tV/s501/h/1/E/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">in subparagraph (D), as so redesignated, by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”; and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s501/h/1/E/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><chapeau style="-uslm-dtd:text">is subject to restrictions that are established by the participating jurisdiction and determined by the Secretary to be appropriate, including with respect to the useful life of the property, to—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><chapeau style="-uslm-dtd:text">require that any subsequent purchase of the property be—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">only by a person who meets the qualifications specified under subparagraph (B); and</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">at a price that is determined by a formula or method established by the participating jurisdiction that provides the owner with a reasonable return on investment, which may include a percentage of the cost of any improvements; or</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">recapture the investment provided under this title in order to assist other persons in accordance with the requirements of this title, except where there are no net proceeds or where the net proceeds are insufficient to repay the full amount of the assistance.”</content> </clause> </subparagraph></quotedContent>; and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/h/1/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Purchase by community land trust or cooperative housing corporation.—</heading><chapeau style="-uslm-dtd:text">Notwithstanding subparagraph (C)(i) of paragraph (1) and under terms determined by the Secretary, the Secretary may permit a participating jurisdiction to allow a community land trust, housing cooperative, or a community development corporation that used assistance provided under this subtitle for the development of housing that meets the criteria under paragraph (1), to acquire the housing—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">in accordance with the terms of the preemptive purchase option, lease, covenant on the land, or other similar legal instrument of the community land trust or housing cooperative when the terms and rights in the preemptive purchase option, lease, covenant, or legal instrument are and remain subject to the requirements of this title;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><chapeau style="-uslm-dtd:text">when the purchase is for—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><chapeau style="-uslm-dtd:text">the purpose of—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">entering into the chain of title;</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">enabling a purchase by a person who meets the qualifications specified under paragraph (1)(B) and is on a waitlist maintained by the community land trust or housing cooperative, subject to enforcement by the participating jurisdiction of all applicable requirements of this title, as determined by the Secretary;</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">performing necessary rehabilitation and improvements; or</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="IV">“(IV) </num><content style="-uslm-dtd:text">adding a subsidy to preserve affordability, which may be from Federal or non-Federal sources; or</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">another purpose determined appropriate by the Secretary; and</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">if, within a reasonable period of time after the applicable purpose under subparagraph (B) of this paragraph is fulfilled, as determined by the Secretary, the housing is then sold to a person who meets the qualifications specified under paragraph (1)(B).”</content> </subparagraph> </paragraph></quotedContent>; and</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/h/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Qualification Exceptions for Home-ownership.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Military members.—</heading><chapeau style="-uslm-dtd:text">A participating jurisdiction, in accordance with terms established by the Secretary, may suspend or waive the income qualifications described in subsection (b)(1)(B) with respect to housing that otherwise meets the criteria described in subsection (b)(1) if the owner of the housing—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">is a member of a regular component of the armed forces or a member of the National Guard on full-time National Guard duty, active Guard and Reserve duty, or inactive-duty training (as those terms are defined in section 101 of title 10, United States Code); and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><chapeau style="-uslm-dtd:text">has received—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">temporary duty orders to deploy with a military unit or military orders to deploy as an individual acting in support of a military operation, to a location that is not within a reasonable distance from the housing, as determined by the Secretary, for a period of not less than 90 days; or</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">orders for a permanent change of station.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Heirs and beneficiaries of deceased owners.—</heading><chapeau style="-uslm-dtd:text">Housing that meets the criteria described in subsection (b)(1)(C) prior to the death of an owner of such housing shall continue to qualify as affordable housing under this title if—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the housing is the principal residence of an heir or beneficiary of the deceased owner, as defined by the Secretary; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the heir or beneficiary, in accordance with terms established by the Secretary, assumes the duties and obligations of the deceased owner with respect to funds provided under this title.”</content> </subparagraph> </paragraph> </subsection></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/i" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">Elimination of Expiration of Right to Draw Home Investment Trust Funds.—</heading><chapeau style="-uslm-dtd:text">Section 218 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12748) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s501/i/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking subsection (g); and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/i/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by redesignating subsection (h) as subsection (g).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/j" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="j">(j) </num><heading style="-uslm-dtd:header">Adjusted Recapture and Reuse of Set-aside for Community Housing Developmental Organizations.—</heading><content style="-uslm-dtd:text">Section 231(b) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12771(b)) is amended to read as follows:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Recapture and Reuse.—</heading><content style="-uslm-dtd:text">If any funds reserved under subsection (a) remain uninvested for a period of 24 months, the Secretary shall make such funds available to the participating jurisdiction for any eligible activities under this title without regard to whether a community housing development organization materially participates in the use of such funds.”</content> </subsection></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/k" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="k">(k) </num><heading style="-uslm-dtd:header">Asset Recycling Information Dissemination Expansion.—</heading><content style="-uslm-dtd:text">Section 245(b)(2) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12785(b)(2)) is amended by striking “<quotedText style="-uslm-dtd:quote">95 percent</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">110 percent</quotedText>”.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/l" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="l">(l) </num><heading style="-uslm-dtd:header">Environmental Review Requirements.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s501/l/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Section 288 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12838) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">“(e) </num><heading style="-uslm-dtd:header">Categorical Exemptions.—</heading><chapeau style="-uslm-dtd:text">The following categories of activities carried out under this title shall be statutorily exempt from environmental review under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.), and shall not require further review under such Act:</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">New construction infill housing projects.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">Acquisition of real property for affordable housing purposes.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">Rehabilitation projects carried out pursuant to section 212(a)(1).</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">New construction projects of 15 units or less.</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">“(f) </num><heading style="-uslm-dtd:header">Removing Duplicative Reviews.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">To the extent practicable and permitted by law, the Secretary shall ensure that a project that has undergone an environmental review under this section shall not be subject to a duplicative environmental review solely due to the addition, substitution, or reallocation of other sources of Federal assistance, if the scope, scale, and location of the project remain substantially unchanged.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Coordination of environmental review responsibilities.—</heading><content style="-uslm-dtd:text">The Secretary shall, by regulation, provide for coordination of environmental review responsibilities with other Federal agencies to streamline interagency compliance and avoid unnecessary duplication of effort under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.) and other applicable laws.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Recognition of prior reviews by responsible entities.—</heading><content style="-uslm-dtd:text">A project may not be subject to an environmental review under this section if a substantially similar review has already been completed by an entity designated under section 104(g)(1) of the Housing and Community Development Act of 1974 (42 U.S.C. 5304(g)(1)) or by another entity the Secretary determines to have equivalent authority, if the scope, scale, and location of the project remain substantially unchanged.”</content> </paragraph> </subsection></quotedContent>.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/l/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s12838">42 U.S.C. 12838 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Rulemaking.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of the enactment of this Act, the Secretary shall issue such rules as the Secretary determines necessary to carry out the amendment made by this subsection.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/l/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s12838">42 U.S.C. 12838 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Applicability.—</heading><content style="-uslm-dtd:text">Any activity generated under this subsection would be subject to an authorization of appropriations.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/l/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Definition.—</heading><content style="-uslm-dtd:text">Section 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704) is amended by striking paragraph (25) and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="25">“(25) </num><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">infill housing project</quotedText>’ means a residential housing project that—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">is located within the geographic limits of a municipality;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">is adequately served by existing utilities and public services as required under applicable law;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">is located on a site of previously disturbed land of not more than 5 acres; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">is substantially surrounded by residential or commercial development, as determined by the Secretary.”</content> </subparagraph> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/m" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="m">(m) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s12721">42 U.S.C. 12721 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Application of Build America, Buy America Requirements for Home Investment Partnerships Program.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s501/m/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not later than 180 days after the date of enactment of this Act, the Secretary of Housing and Urban Development (in this subsection referred to as the “Secretary”) shall complete a review of the implementation of the Build America, Buy America Act (title IV of division G of Public Law 117-58; 42 U.S.C. 8301 note) with respect to the activities assisted under title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/m/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Updated guidance.—</heading><content style="-uslm-dtd:text">Not later than 90 days after the review described in subsection (a) is completed, the Secretary shall issue updated guidance to clarify the application of the Build America, Buy America Act (title IV of division G of Public Law 117-58; 42 U.S.C. 8301 note) with respect to the activities assisted under title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/m/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Report.—</heading><chapeau style="-uslm-dtd:text">Not later than 270 days after the date of enactment of this Act, the Secretary shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a report that describes—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/m/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the results of the review required under subsection (a); and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/m/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the guidance issued as described in subsection (b).</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/n" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="n">(n) </num><heading style="-uslm-dtd:header">Application of Other Specified Statutory Requirements.—</heading><content style="-uslm-dtd:text">Title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="291">“SEC. 291. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s12841">42 U.S.C. 12841</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">NONAPPLICABILITY OF CERTAIN REQUIREMENTS FOR SMALL PROJECTS </heading> <chapeau class="block" style="-uslm-dtd:text">“Notwithstanding any other provision of law, the requirements of section 3 of the Housing and Urban Development Act of 1968 (12 U.S.C. 1701u), and any implementing regulations or guidance, shall not apply to an activity assisted under this title that involves rehabilitation, construction, or other development of housing if—</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><chapeau style="-uslm-dtd:text">the recipient of assistance under this title is—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">a State recipient pursuant to section 216; or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">a participating jurisdiction that received a total allocation of less than $3,000,000 in the most recent fiscal year pursuant to section 216; and</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">the total number of dwelling units assisted as a part of such activity is not more than 50.”</content> </paragraph> </section></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/o" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="o">(o) </num><heading style="-uslm-dtd:header">Reallocation Not Available for Certain Jurisdictions.—</heading><chapeau style="-uslm-dtd:text">Section 217(d) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12747(d)) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s501/o/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (1), by striking the second sentence and inserting the following: “<quotedText style="-uslm-dtd:quote">Subject to paragraph (4), jurisdictions eligible for such reallocations shall include participating jurisdictions and jurisdictions meeting the requirements of this title, including the requirements in paragraphs (3), (4), and (5) of section 216.</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/o/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Reallocation not available for certain jurisdictions.—</heading><content style="-uslm-dtd:text">The Secretary may decline to make a reallocation available to a jurisdiction eligible for such reallocation if such jurisdiction has failed to meet or comply with any requirement under this title.”</content> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/p" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="p">(p) </num><heading style="-uslm-dtd:header">Amendments to Qualification as Affordable Housing.—</heading><content style="-uslm-dtd:text">Section 215(a)(1)(E) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12745(a)) is amended by striking “<quotedText style="-uslm-dtd:quote">except upon a foreclosure by a lender (or upon other transfer in lieu of foreclosure) if such action (i) recognizes any contractual or legal rights of public agencies, nonprofit sponsors, or others to take actions that would avoid termination of low-income affordability in the case of foreclosure or transfer in lieu of foreclosure, and (ii) is not for the purpose of avoiding low-income affordability restrictions, as determined by the Secretary; and</quotedText>” and inserting the following:<quotedContent class="inline" style="-uslm-dtd:quoted-block"><chapeau style="-uslm-dtd:text">“except—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><chapeau style="-uslm-dtd:text">upon a foreclosure by a lender (or upon other transfer in lieu of foreclosure) if such action—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">recognizes any contractual or legal rights of public agencies, nonprofit sponsors, or others to take actions that would avoid termination of low-income affordability in the case of foreclosure or transfer in lieu of foreclosure; and</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">is not for the purpose of avoiding low-income affordability restrictions, as determined by the Secretary; or</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">where existing affordable housing is no longer financially viable due to unforeseen acts or occurrences beyond the reasonable contemplation or control of the participating jurisdiction in which the affordable housing is located or the owner of the affordable housing that significantly impact the financial or physical condition of the affordable housing, as determined by the Secretary; and”</content> </clause></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/q" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="q">(q) </num><heading style="-uslm-dtd:header">Tenant and Participant Protections for Affordable Housing.—</heading><content style="-uslm-dtd:text">Section 225 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12755) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">“(e) </num><heading style="-uslm-dtd:header">Exception.—</heading><chapeau style="-uslm-dtd:text">Paragraphs (2), (3), and (4) of subsection (d) shall not apply to housing under this section that meets the following criteria:</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">The housing is affordable housing with not more than 4 dwelling units, each of which is made available for rental.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">Each dwelling unit in the housing bears rent in an amount that complies with the requirements described in paragraph (1)(A).</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">Each dwelling unit in the housing is accompanied by a low-income family.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">No dwelling in the housing is refused for leasing to a holder of a voucher under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f) because of the status of the prospective tenant as a holder of that voucher.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><content style="-uslm-dtd:text">The housing complies with the requirement described in paragraph (1)(E).</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">“(6) </num><content style="-uslm-dtd:text">The participating jurisdiction in which the housing is located monitors the compliance of the housing with the requirements of this title in a manner consistent with the purposes of section 226(b), as determined by the Secretary.”</content> </paragraph> </subsection></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/r" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="r">(r) </num><heading style="-uslm-dtd:header">Revision of Definition of Community Land Trust.—</heading><content style="-uslm-dtd:text">Section 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704), as amended by subsection (l)(4), is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="26">“(26) </num><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">community land trust</quotedText>’ means a nonprofit entity, a State, a unit of local government, or an instrumentality of a State or unit of local government that—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">is not managed by, or an affiliate of, a for profit organization;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">has as a primary purpose of acquiring, developing, or holding land to provide housing that is permanently affordable to low- and moderate-income persons;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">monitors properties to ensure affordability is preserved;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><chapeau style="-uslm-dtd:text">provides housing that is permanently affordable to low- and moderate-income persons using a ground lease, deed covenant, or other similar legally enforceable measure, determined acceptable by the Secretary, that—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">keeps housing affordable to low- and moderate-income persons for not less than 30 years; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">enables low- and moderate-income persons to rent or purchase the housing for home-ownership; and</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">maintains preemptive purchase options to purchase the property if such purchase would allow the housing to remain affordable to low-and moderate-income persons.”</content> </subparagraph> </paragraph></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/s" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="s">(s) </num><heading style="-uslm-dtd:header">Set-aside for Community Housing Development Organizations.—</heading><content style="-uslm-dtd:text">Section 231(a) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12771(a)) is amended, in the first sentence, by striking “<quotedText style="-uslm-dtd:quote">to be developed, sponsored, or owned by community housing development organizations</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">when a community housing development organization materially participates in the ownership or development of that housing, as determined by the Secretary</quotedText>”.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/t" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="t">(t) </num><heading style="-uslm-dtd:header">Administrative Reforms.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s501/t/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Increase in program administration resources.—</heading><chapeau style="-uslm-dtd:text">Section 220(b) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12750(b)) is amended—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking paragraph (2);</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Recognition.—</quotedText>” and all that follows through “<quotedText style="-uslm-dtd:quote">A contribution</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Recognition.—A contribution</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by redesignating subparagraphs (A) and (B) as paragraphs (1) and (2), respectively, and adjusting the margins accordingly.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/t/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Modification of jurisdictions eligible for reallocations.—</heading><chapeau style="-uslm-dtd:text">Section 217(d)(3) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12747(d)(3)) is amended—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in the paragraph heading, by striking “<quotedText style="-uslm-dtd:quote">Limitation</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Limitations</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Unless otherwise specified</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Removal of participating jurisdictions from reallocation.—</heading><content style="-uslm-dtd:text">The Secretary may, upon a finding that the participating jurisdiction has failed to meet or comply with the requirements of this title, remove a participating jurisdiction from participation in reallocations of funds made available under this title.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Reallocation to same type of entity.—</heading><content style="-uslm-dtd:text">Unless otherwise specified”</content> </subparagraph></quotedContent>.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/t/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Home property inspections.—</heading><chapeau style="-uslm-dtd:text">Section 226(b) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12756(b)) is amended—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Each participating jurisdiction</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Each participating jurisdiction”</content> </paragraph></quotedContent>; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Such review shall include</quotedText>” and all that follows and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Onsite inspections.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Inspections by units of general local government.—</heading><content style="-uslm-dtd:text">A review conducted under paragraph (1) by a participating jurisdiction that is a unit of general local government shall include an onsite inspection to determine compliance with housing codes and other applicable regulations.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Inspections by states.—</heading><content style="-uslm-dtd:text">A review conducted under paragraph (1) by a participating jurisdiction that is a State shall include an onsite inspection to determine compliance with a national standard as determined by the Secretary.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Inclusion in performance report and publication.—</heading><content style="-uslm-dtd:text">A participating jurisdiction shall include in the performance report of the participating jurisdiction submitted to the Secretary under section 108(a), and make available to the public, the results of each review conducted under paragraph (1).”</content> </paragraph></quotedContent>.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/t/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Revisions to strengthen enforcement and penalties for noncompliance.—</heading><chapeau style="-uslm-dtd:text">Section 223 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12753) is amended—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/4/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in the section heading, by striking “<quotedText style="-uslm-dtd:quote">penalties for misuse of funds</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">program enforcement and penalties for noncompliance</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/4/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in the matter preceding paragraph (1), by inserting after “<quotedText style="-uslm-dtd:quote">any provision of this subtitle</quotedText>” the following: “<quotedText style="-uslm-dtd:quote">, including any provision applicable throughout the period required by section 215(a)(1)(E) and applicable regulations,</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/4/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">in paragraph (2), by striking “<quotedText style="-uslm-dtd:quote">or</quotedText>” at the end;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/4/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">in paragraph (3), by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">; or</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/t/4/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">reduce payments to the participating jurisdiction under this subtitle by an amount equal to the amount of such payments that were not expended by the participating jurisdiction in accordance with this title.”</content> </paragraph></quotedContent>.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/u" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="u">(u) </num><heading style="-uslm-dtd:header">Minimum Allocations.—</heading><chapeau style="-uslm-dtd:text">Section 217(b) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12747 (b)) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s501/u/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (2), by striking “<quotedText style="-uslm-dtd:quote">$500,000</quotedText>” each place that term appears and inserting “<quotedText style="-uslm-dtd:quote">$750,000</quotedText>”;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/u/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in paragraph (3)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/u/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">jurisdictions that are allocated an amount of $500,000 or more</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">jurisdictions that are allocated an amount of $750,000 or more</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/u/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">that are allocated an amount less than $500,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">that are allocated an amount less than $500,000 before the date of enactment of the 21st Century ROAD to Housing Act or less than $750,000 on or after the date of enactment of the 21st Century ROAD to Housing Act</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/u/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">, except as provided in paragraph (4)</quotedText>”; and</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/u/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by striking paragraph (4).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s501/v" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><heading style="-uslm-dtd:header">Technical and Conforming Amendments.—</heading><chapeau style="-uslm-dtd:text">The Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12701 et seq.) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s501/v/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s12705">42 U.S.C. 12705</ref><b>]</b> </editorialNote><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Stewart B. McKinney Homeless Assistance Act</quotedText>” each place that term appears and inserting “<quotedText style="-uslm-dtd:quote">McKinney-Vento Homeless Assistance Act</quotedText>”;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/v/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s12710">42 U.S.C. 12710</ref><b>]</b> </editorialNote><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Committee on Banking, Finance and Urban Affairs</quotedText>” each place that term appears and inserting “<quotedText style="-uslm-dtd:quote">Committee on Financial Services</quotedText>”;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/v/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><chapeau style="-uslm-dtd:text">in the table of contents in section 1(b) (Public Law 101-625; 104 Stat. 4079)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking the item relating to section 205 and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <toc style="-uslm-dtd:toc"> <referenceItem role="section" style="-uslm-dtd:toc-entry"><label>“Sec. 205. Authorization of program.”</label></referenceItem> </toc></quotedContent>;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking the item relating to section 223 and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <toc style="-uslm-dtd:toc"> <referenceItem role="section" style="-uslm-dtd:toc-entry"><label>“Sec. 223. Program enforcement and penalties for noncompliance.”</label></referenceItem> </toc></quotedContent>; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by inserting after the item relating to section 290 the following:<quotedContent style="-uslm-dtd:quoted-block"> <toc style="-uslm-dtd:toc"> <referenceItem role="section" style="-uslm-dtd:toc-entry"><label>“Sec. 291. Nonapplicability of certain requirements for small projects.”</label></referenceItem> </toc></quotedContent>;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/v/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><chapeau style="-uslm-dtd:text">in section 104 (42 U.S.C. 12704)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/4/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by redesignating paragraph (23) (relating to the definition of the term “<quotedText style="-uslm-dtd:quote">to demonstrate to the Secretary</quotedText>”) as paragraph (22); and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/4/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by redesignating paragraph (24) (relating to the definition of the term “<quotedText style="-uslm-dtd:quote">insular area</quotedText>”, as added by section 2(2) of Public Law 102-230) as paragraph (23);</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/v/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">in section 105(b)(8) (42 U.S.C. 12705(b)(8)), by striking “<quotedText style="-uslm-dtd:quote">subparagraphs</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">paragraphs</quotedText>”;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/v/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">in section 108(a)(1) (42 U.S.C. 12708(a)(1)), by striking “<quotedText style="-uslm-dtd:quote">section 105(b)(15)</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">section 105(b)(18)</quotedText>”;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/v/7" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">(7) </num><chapeau style="-uslm-dtd:text">in section 212 (42 U.S.C. 12742)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/7/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in subsection (a)(3)(A)(ii), by inserting “<quotedText style="-uslm-dtd:quote">United States</quotedText>” before “<quotedText style="-uslm-dtd:quote">Housing Act</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/7/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in subsection (d)(5), by inserting “<quotedText style="-uslm-dtd:quote">United States</quotedText>” before “<quotedText style="-uslm-dtd:quote">Housing Act</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/7/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">in subsection (e)(1)—</chapeau> <clause identifier="/us/sComp/119/101/tV/s501/v/7/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">section 221(d)(3)(ii)</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">section 221(d)(4)</quotedText>”; and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s501/v/7/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">not to exceed 140 percent</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">as determined by the Secretary</quotedText>”;</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/v/8" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">(8) </num><content style="-uslm-dtd:text">in section 215(a)(6)(B) (42 U.S.C. 12745(a)(6)(B)), by striking “<quotedText style="-uslm-dtd:quote">grand children</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">grandchildren</quotedText>”;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/v/9" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="9">(9) </num><chapeau style="-uslm-dtd:text">in section 217 (42 U.S.C. 12747)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/9/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">in subsection (a)—</chapeau> <clause identifier="/us/sComp/119/101/tV/s501/v/9/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">in paragraph (1), by striking “<quotedText style="-uslm-dtd:quote">(3)</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">(2)</quotedText>”;</content> </clause> <clause identifier="/us/sComp/119/101/tV/s501/v/9/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by striking paragraph (3), as added by section 211(a)(2)(D) of the Housing and Community Development Act of 1992 (Public Law 102-550; 106 Stat. 3756); and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s501/v/9/A/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">by redesignating the remaining paragraph (3), as added by the matter under the heading “<headingText style="-uslm-dtd:header-in-text">home investment partnerships program</headingText>” under the heading “<quotedText style="-uslm-dtd:quote">Housing Programs</quotedText>” in title II of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1993 (Public Law 102-389; 106 Stat. 1581), as paragraph (2); and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/9/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">in subsection (b)(1)—</chapeau> <clause identifier="/us/sComp/119/101/tV/s501/v/9/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">in subparagraph (A), in the first sentence—</chapeau> <subclause identifier="/us/sComp/119/101/tV/s501/v/9/B/i/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">in regulation</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">, by regulation,</quotedText>”; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s501/v/9/B/i/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">eligible jurisdiction</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">eligible jurisdictions</quotedText>”; and</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tV/s501/v/9/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><chapeau style="-uslm-dtd:text">in subparagraph (F), in the first sentence—</chapeau> <subclause identifier="/us/sComp/119/101/tV/s501/v/9/B/ii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">in clause (i), by striking “<quotedText style="-uslm-dtd:quote">Subcommittee on Housing and Urban Affairs</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Subcommittee on Housing, Transportation, and Community Development</quotedText>”; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s501/v/9/B/ii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">in clause (ii), by striking “<quotedText style="-uslm-dtd:quote">Subcommittee on Housing and Community Development of the Committee on Banking, Finance and Urban Affairs</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Subcommittee on Housing and Insurance of the Committee on Financial Services</quotedText>”;</content> </subclause> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/v/10" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="10">(10) </num><chapeau style="-uslm-dtd:text">in section 220(c) (42 U.S.C. 12750(c))—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/10/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in paragraph (3), by striking “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” and all that follows and inserting “<quotedText style="-uslm-dtd:quote">Secretary;</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/10/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in paragraph (4), by striking “<quotedText style="-uslm-dtd:quote">under this title</quotedText>” and all that follows and inserting “<quotedText style="-uslm-dtd:quote">under this title;</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/10/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by redesignating paragraphs (6), (7), and (8) as paragraphs (5), (6), and (7), respectively;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/v/11" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="11">(11) </num><content style="-uslm-dtd:text">in section 225(d)(4)(B) (42 U.S.C. 12755(d)(4)(B)), by striking “<quotedText style="-uslm-dtd:quote">for</quotedText>” the first place that term appears; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s501/v/12" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="12">(12) </num><chapeau style="-uslm-dtd:text">in section 233 (42 U.S.C. 12773)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/12/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in subsection (b)(6), by striking “<quotedText style="-uslm-dtd:quote">to community land trusts (as such term is defined in subsection (f))</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">to community land trusts (as such term is defined in section 104)</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s501/v/12/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking subsection (f).</content> </subparagraph> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tV/s502" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="502">SEC. 502. </num><heading style="-uslm-dtd:header">RURAL HOUSING SERVICE REFORM ACT. </heading> <subsection identifier="/us/sComp/119/101/tV/s502/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Application of Multifamily Mortgage Foreclosure Procedures to Multifamily Mortgages Held by the Secretary of Agriculture and Preservation of the Rental Assistance Contract Upon Foreclosure.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s502/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Multifamily mortgage procedures.—</heading><chapeau style="-uslm-dtd:text">Section 363(2)(F) of the Multifamily Mortgage Foreclosure Act of 1981 (12 U.S.C. 3702(2)) is amended—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s502/a/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">or 515</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">515, or 538</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/a/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">, 1490p-2</quotedText>” after “<quotedText style="-uslm-dtd:quote">1485</quotedText>”.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Preservation of contract.—</heading><content style="-uslm-dtd:text">Section 521(d) of the Housing Act of 1949 (42 U.S.C. 1490a(d)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><chapeau style="-uslm-dtd:text">Notwithstanding any other provision of law, in managing and disposing of any multifamily property that is owned or has a mortgage held by the Secretary, and during the process of foreclosure on any property with a contract for rental assistance under this section—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the Secretary shall maintain any rental assistance payments that are attached to any dwelling units in the property; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the rental assistance contract may be used to provide further assistance to existing projects under 514, 515, or 516.”</content> </subparagraph> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Study on Rural Housing Loans for Housing for Low- and Moderate-income Families.—</heading><chapeau style="-uslm-dtd:text">Not later than 6 months after the date of enactment of this Act, the Secretary of Agriculture shall conduct a study and submit to Congress a publicly available report on the loan program under section 521 of the Housing Act of 1949 (42 U.S.C. 1490a), including—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s502/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the total amount provided by the Secretary in subsidies under such section 521 to borrowers with loans made pursuant to section 502 of such Act (42 U.S.C. 1472);</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">how much of the subsidies described in paragraph (1) are being recaptured; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">the amount of time and costs associated with recapturing those subsidies.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t7/s1981">7 U.S.C. 1981 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Staffing and Information Technology Upgrades.—</heading><content style="-uslm-dtd:text">Utilizing funds appropriated for such purposes, the Secretary of Agriculture may increase staffing capacity and upgrade information technology to support all Rural Housing Service programs.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Technical Improvements.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s502/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Authorization of appropriations.—</heading><content style="-uslm-dtd:text">Utilizing funds appropriated for such purposes, the Secretary of Agriculture may make improvements to the technology of the Rural Housing Service of the Department of Agriculture used to process and manage housing loans.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Availability.—</heading><content style="-uslm-dtd:text">Amounts appropriated pursuant to paragraph (1) shall remain available until the date that is 5 years after the date of the appropriation.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/d/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Timeline.—</heading><content style="-uslm-dtd:text">The Secretary of Agriculture shall make the improvements described in paragraph (1) during the 5-year period beginning on the date on which amounts are appropriated under paragraph (1).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Permanent Establishment of Housing Preservation and Revitalization Program.—</heading><content style="-uslm-dtd:text">Title V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="545">“SEC. 545. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1490u">42 U.S.C. 1490u</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">HOUSING PRESERVATION AND REVITALIZATION PROGRAM </heading> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">Establishment.—</heading><content style="-uslm-dtd:text">The Secretary shall carry out a program under this section for the preservation and revitalization of multifamily rental housing projects financed under section 514, 515, or 516.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Notice of Maturing Loans.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">To owners.—</heading><content style="-uslm-dtd:text">On an annual basis, the Secretary shall provide written notice to each owner of a property financed under section 514, 515, or 516 that will mature within the 4-year period beginning upon the provision of the notice, setting forth the options and financial incentives that are available to facilitate the extension of the loan term or the option to decouple a rental assistance contract pursuant to subsection (f).</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">To tenants.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">On an annual basis, for each property financed under section 514, 515, or 516, not later than the date that is 2 years before the date that the loan will mature, the Secretary shall provide written notice to each household residing in the property that informs them of—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">the date of the loan maturity;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">the possible actions that may happen with respect to the property upon that maturity; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">how to protect their right to reside in federally assisted housing, or how to secure housing voucher, after that maturity.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Language.—</heading><content style="-uslm-dtd:text">Notice under this paragraph shall be provided in plain English and shall be translated to other languages in the case of any property located in an area in which a significant number of residents speak such other languages.</content> </subparagraph> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Loan Restructuring.—</heading><chapeau style="-uslm-dtd:text">Under the program under this section, in any circumstance in which the Secretary proposes a restructuring to an owner or an owner proposes a restructuring to the Secretary, the Secretary may restructure such existing housing loans, as the Secretary considers appropriate, for the purpose of ensuring that those projects have sufficient resources to preserve the projects to provide safe and affordable housing for low-income residents and farm laborers, by—</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">reducing or eliminating interest;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">deferring loan payments;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">subordinating, reducing, or reamortizing loan debt;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">providing other financial assistance, including advances, payments, and incentives (including the ability of owners to obtain reasonable returns on investment) required by the Secretary; and</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><content style="-uslm-dtd:text">permanently removing a portion of the housing units from income restrictions when sustained vacancies have occurred.</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">“(d) </num><heading style="-uslm-dtd:header">Renewal of Rental Assistance.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">When the Secretary proposes to restructure a loan or agrees to the proposal of an owner to restructure a loan pursuant to subsection (c), the Secretary shall offer to renew the rental assistance contract under section 521(a)(2) for a term that is the shorter of 20 years and the term of the restructured loan, subject to annual appropriations, provided that the owner agrees to bring the property up to such standards that will ensure maintenance of the property as decent, safe, and sanitary housing for the full term of the rental assistance contract.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Additional rental assistance.—</heading><content style="-uslm-dtd:text">With respect to a project described in paragraph (1), if rental assistance is not available for all households in the project for which the loan is being restructured pursuant to subsection (c), the Secretary may extend such additional rental assistance to unassisted households at that project as is necessary to make the project safe and affordable to low-income households.</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">“(e) </num><heading style="-uslm-dtd:header">Restrictive Use Agreements.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Requirement.—</heading><content style="-uslm-dtd:text">As part of the preservation and revitalization agreement for a project, the Secretary shall obtain a restrictive use agreement that is recorded and obligates the owner to operate the project in accordance with this title.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Term.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">No extension of rental assistance contract.—</heading><content style="-uslm-dtd:text">Except when the Secretary enters into a 20-year extension of the rental assistance contract for a project, the term of the restrictive use agreement for the project shall be consistent with the term of the restructured loan for the project.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Extension of rental assistance contract.—</heading><chapeau style="-uslm-dtd:text">If the Secretary enters into a 20-year extension of the rental assistance contract for a project, the term of the restrictive use agreement for the project shall be for the longer of—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">20 years; or</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">the remaining term of the loan for that project.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Termination.—</heading><content style="-uslm-dtd:text">The Secretary may terminate the 20-year restrictive use agreement for a project before the end of the term of the agreement if the 20-year rental assistance contract for the project with the owner is terminated at any time for reasons outside the control of the owner.</content> </subparagraph> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">“(f) </num><heading style="-uslm-dtd:header">Decoupling of Rental Assistance.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Renewal of rental assistance contract.—</heading><content style="-uslm-dtd:text">If the Secretary determines that a loan maturing during the 4-year period beginning upon the provision of the notice required under subsection (b)(1) for a project cannot reasonably be restructured in accordance with subsection (c) because it is not financially feasible or the owner does not agree with the proposed restructuring, and the project was operating with rental assistance under section 521 and the recipient is a borrower under section 514 or 515, the Secretary may renew the rental assistance contract, notwithstanding any requirement under section 521 that the recipient be a current borrower under section 514 or 515, for a term of 20 years, subject to annual appropriations.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Additional rental assistance.—</heading><content style="-uslm-dtd:text">With respect to a project described in paragraph (1), if rental assistance is not available for all households in the project for which the loan is being restructured pursuant to subsection (c), the Secretary may extend such additional rental assistance to unassisted households at that project as is necessary to make the project safe and affordable to low-income households.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Rents.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Any agreement to extend the term of the rental assistance contract under section 521 for a project shall obligate the owner to continue to maintain the project as decent, safe, and sanitary housing and to operate the development as affordable housing in a manner that meets the goals of this title.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Rent amounts.—</heading><chapeau style="-uslm-dtd:text">Subject to subparagraph (C), in setting rents, the Secretary—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">shall determine the maximum initial rent based on current fair market rents established under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f); and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">may annually adjust the rent determined under clause (i) by the operating cost adjustment factor as provided under section 524 of the Multifamily Assisted Housing Reform and Affordability Act of 1997 (42 U.S.C. 1437f note).</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Higher rent.—</heading> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Subparagraph (B) shall not apply if the Secretary determines that the budget-based needs of a project require a higher rent than the rent described in subparagraph (B).</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Rent.—</heading><content style="-uslm-dtd:text">If the Secretary makes a positive determination under clause (i), the Secretary may approve a budget-based rent level for the project.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Conditions for approval.—</heading><content style="-uslm-dtd:text">Before the approval of a rental assistance contract authorized under this section, the Secretary shall require, through an annual notice in the Federal Register, the owner to submit to the Secretary a plan that identifies financing sources and a timetable for renovations and improvements determined to be necessary by the Secretary to maintain and preserve the project.</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">“(g) </num><heading style="-uslm-dtd:header">Multifamily Housing Transfer Technical Assistance.—</heading><content style="-uslm-dtd:text">Under the program under this section, the Secretary may provide grants to qualified nonprofit organizations, housing cooperative corporations, and public housing agencies to provide technical assistance, including financial and legal services, to borrowers under loans under this title for multifamily housing to facilitate the acquisition or preservation of such multifamily housing properties in areas where the Secretary determines there is a risk of loss of affordable housing.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="h">“(h) </num><heading style="-uslm-dtd:header">Administrative Expenses.—</heading><content style="-uslm-dtd:text">Of any amounts made available for the program under this section for any fiscal year, the Secretary may use not more than $1,000,000 for administrative expenses for carrying out such program.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Rulemaking.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Not later than 180 days after the date of enactment of the 21st Century ROAD to Housing Act, the Secretary shall—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">publish an advance notice of proposed rulemaking; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">consult with appropriate stakeholders.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Interim final rule.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of the 21st Century ROAD to Housing Act, the Secretary shall publish an interim final rule to carry out this section.”</content> </paragraph> </subsection> </section></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/f" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Rental Assistance Contract Authority.—</heading><chapeau style="-uslm-dtd:text">Section 521(d) of the Housing Act of 1949 (42 U.S.C. 1490a(d)), as amended by this section, is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s502/f/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">in paragraph (1)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s502/f/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by redesignating subparagraphs (B) and (C) as subparagraphs (C) and (D), respectively;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/f/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by inserting after subparagraph (A) the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">upon request of an owner of a project financed under section 514 or 515, the Secretary is authorized to enter into renewal of such agreements for a period of 20 years or the term of the loan, whichever is shorter, subject to amounts made available in appropriations Acts;”</content> </subparagraph></quotedContent>;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/f/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">in subparagraph (C), as so redesignated, by striking “<quotedText style="-uslm-dtd:quote">subparagraph (A)</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">subparagraphs (A) and (B)</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/f/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">in subparagraph (D), as so redesignated, by striking “<quotedText style="-uslm-dtd:quote">subparagraphs (A) and (B)</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">subparagraphs (A), (B), and (C)</quotedText>”;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/f/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (2), by striking “<quotedText style="-uslm-dtd:quote">shall</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">may</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/f/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><chapeau style="-uslm-dtd:text">In the case of any rental assistance contract authority that becomes available because of the termination of assistance on behalf of an assisted family—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><chapeau style="-uslm-dtd:text">at the option of the owner of the rental project, the Secretary shall provide the owner a period of not more than 6 months before unused assistance is made available pursuant to subparagraph (B) during which the owner may use such authority to provide assistance on behalf of an eligible unassisted family that—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">is residing in the same rental project in which the assisted family resided before the termination; or</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">newly occupies a dwelling unit in the rental project during that 6-month period; and</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">except for assistance used as provided in subparagraph (A), the Secretary shall use such remaining authority to provide assistance on behalf of eligible families residing in other rental projects originally financed under section 514, 515, or 516.”</content> </subparagraph> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/g" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Modifications to Loans and Grants for Minor Improvements to Farm Housing and Buildings; Income Eligibility.—</heading><chapeau style="-uslm-dtd:text">Section 504(a) of the Housing Act of 1949 (42 U.S.C. 1474(a)) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s502/g/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in the first sentence, by inserting “<quotedText style="-uslm-dtd:quote">and may make a loan to an eligible low-income applicant</quotedText>” after “<quotedText style="-uslm-dtd:quote">applicant</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/g/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$7,500</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$15,000</quotedText>”.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/h" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="h">(h) </num><heading style="-uslm-dtd:header">Rural Community Development Initiative.—</heading><content style="-uslm-dtd:text">Subtitle E of the Consolidated Farm and Rural Development Act (7 U.S.C. 2009 et seq.) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="381O">“SEC. 381O. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t7/s2009n">7 U.S.C. 2009n</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">RURAL COMMUNITY DEVELOPMENT INITIATIVE </heading> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Eligible entity.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">eligible entity</quotedText>’ means—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">a private, nonprofit community-based housing or community development organization;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">a rural community; or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">a federally recognized Indian tribe.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Eligible intermediary.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">eligible intermediary</quotedText>’ means a qualified—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">private, nonprofit organization; or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">public organization.</content> </subparagraph> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Establishment.—</heading><content style="-uslm-dtd:text">The Secretary shall establish a Rural Community Development Initiative, under which the Secretary shall provide grants, subject to the availability of appropriations, to eligible intermediaries to carry out programs to provide financial and technical assistance to eligible entities to develop the capacity and ability of eligible entities to carry out projects to improve housing, community facilities, and community and economic development projects in rural areas.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Amount of Grants.—</heading><content style="-uslm-dtd:text">The amount of a grant provided to an eligible intermediary under this section shall be not more than $500,000.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">“(d) </num><heading style="-uslm-dtd:header">Matching Funds.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">An eligible intermediary receiving a grant under this section shall provide matching funds from other sources, including Federal funds for related activities, in an amount not less than the amount of the grant.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Waiver.—</heading><content style="-uslm-dtd:text">The Secretary may waive paragraph (1) with respect to a project that would be carried out in a persistently poor rural region, as determined by the Secretary.”</content> </paragraph> </subsection> </section></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/i" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">Annual Report on Rural Housing Programs.—</heading><content style="-uslm-dtd:text">Title V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.), as amended by this section, is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="546">“SEC. 546. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1490v">42 U.S.C. 1490v</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">ANNUAL REPORT </heading> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall submit to the appropriate committees of Congress and publish on the website of the Department of Agriculture an annual report on rural housing programs carried out under this title, which shall include significant details on the health of Rural Housing Service programs, including—</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">raw data sortable by programs and by region regarding loan performance;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">the housing stock of those programs, including information on why properties end participation in those programs, such as for maturation, prepayment, foreclosure, or other servicing issues; and</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">risk ratings for properties assisted under those programs.</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Protection of Information.—</heading><content style="-uslm-dtd:text">The data included in each report required under subsection (a) may be aggregated or anonymized to protect participant financial or personal information.”</content> </subsection> </section></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/j" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="j">(j) </num><heading style="-uslm-dtd:header">GAO Report on Rural Housing Service Technology.—</heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to Congress a report that includes—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s502/j/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">an analysis of how the outdated technology used by the Rural Housing Service impacts participants in the programs of the Rural Housing Service;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/j/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">an estimate of the amount of funding that is needed to modernize the technology used by the Rural Housing Service; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/j/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">an estimate of the number and type of new employees the Rural Housing Service needs to modernize the technology used by the Rural Housing Service.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/k" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="k">(k) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1490r">42 U.S.C. 1490r note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Adjustment to Rural Development Voucher Amount.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s502/k/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not later than 2 years after the date of enactment of this Act, the Secretary of Agriculture shall issue regulations to establish a process for adjusting the voucher amount provided under section 542 of the Housing Act of 1949 (42 U.S.C. 1490r) after the issuance of the voucher following an interim or annual review of the amount of the voucher.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/k/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Interim review.—</heading><content style="-uslm-dtd:text">The interim review described in paragraph (1) shall, at the request of a tenant, allow for a recalculation of the voucher amount when the tenant experiences a reduction in income, change in family composition, or change in rental rate.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/k/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Annual review.—</heading> <subparagraph identifier="/us/sComp/119/101/tV/s502/k/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The annual review described in paragraph (1) shall require tenants to annually recertify the family composition of the household and that the family income of the household does not exceed 80 percent of the area median income at a time determined by the Secretary of Agriculture.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/k/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Considerations.—</heading><chapeau style="-uslm-dtd:text">If a tenant does not recertify the family composition and family income of the household within the time frame required under subparagraph (A), the Secretary of Agriculture—</chapeau> <clause identifier="/us/sComp/119/101/tV/s502/k/3/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">shall consider whether extenuating circumstances caused the delay in recertification; and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s502/k/3/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">may alter associated consequences for the failure to recertify based on those circumstances.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/k/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Effective date.—</heading><content style="-uslm-dtd:text">Following the annual review of a voucher under paragraph (1), the updated voucher amount shall be effective on the 1st day of the month following the expiration of the voucher.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/k/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Deadline.—</heading><content style="-uslm-dtd:text">The process established under paragraph (1) shall require the Secretary of Agriculture to review and update the voucher amount described in paragraph (1) for a tenant not later than 60 days before the end of the voucher term.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/l" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="l">(l) </num><heading style="-uslm-dtd:header">Eligibility for Rural Housing Vouchers.—</heading><content style="-uslm-dtd:text">Section 542 of the Housing Act of 1949 (42 U.S.C. 1490r) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Eligibility of Households in Sections 514, 515, and 516 Projects.—</heading><chapeau style="-uslm-dtd:text">The Secretary may provide rural housing vouchers under this section for any low-income household (including those not receiving rental assistance) residing for a term longer than the remaining term of their lease that is in effect on the date of prepayment, foreclosure, or mortgage maturity, in a property financed with a loan under section 514 or 515 or a grant under section 516 that has—</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">been prepaid with or without restrictions imposed by the Secretary pursuant to section 502(c)(5)(G)(ii)(I);</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">been foreclosed; or</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">matured after September 30, 2005.”</content> </paragraph> </subsection></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/m" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="m">(m) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1490r">42 U.S.C. 1490r note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Amount of Voucher Assistance.—</heading><content style="-uslm-dtd:text">Notwithstanding any other provision of law, in the case of any rural housing voucher provided pursuant to section 542 of the Housing Act of 1949 (42 U.S.C. 1490r), the amount of the monthly assistance payment for the household on whose behalf the assistance is provided shall be determined as provided in subsection (a) of such section 542, including providing for interim and annual review of the voucher amount in the event of a change in household composition or income or rental rate.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/n" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="n">(n) </num><heading style="-uslm-dtd:header">Transfer of Multifamily Rural Housing Projects.—</heading><chapeau style="-uslm-dtd:text">Section 515 of the Housing Act of 1949 (42 U.S.C. 1485) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s502/n/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in subsection (h), by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Transfer to nonprofit organizations.—</heading><chapeau style="-uslm-dtd:text">A nonprofit or public body purchaser, including a limited partnership with a general partner with the principal purpose of providing affordable housing, may purchase a property for which a loan is made or insured under this section that has received a market value appraisal, without addressing rehabilitation needs at the time of purchase, if the purchaser—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">makes a commitment to address rehabilitation needs during ownership and long-term use restrictions on the property; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">at the time of purchase, accepts long-term use restrictions on the property.”</content> </subparagraph> </paragraph></quotedContent>; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/n/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in subsection (w)(1), in the first sentence in the matter preceding subparagraph (A), by striking “<quotedText style="-uslm-dtd:quote">9 percent</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">25 percent</quotedText>”.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/o" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="o">(o) </num><heading style="-uslm-dtd:header">Extension of Loan Term.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s502/o/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Section 502(a)(2) of the Housing Act of 1949 (42 U.S.C. 1472(a)(2)) is amended—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s502/o/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">(A)</quotedText>” before “<quotedText style="-uslm-dtd:quote">The Secretary</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/o/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in subparagraph (A), as so designated, by striking “<quotedText style="-uslm-dtd:quote">paragraph</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">subparagraph</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/o/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">The Secretary may refinance or modify the period of any loan, including any refinanced loan, made under this section in accordance with terms and conditions as the Secretary shall prescribe, but in no event shall the total term of the loan from the date of the refinance or modification exceed 40 years.”</content> </subparagraph></quotedContent>.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/o/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1472">42 U.S.C. 1472 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Application.—</heading><content style="-uslm-dtd:text">The amendment made under paragraph (1) shall apply with respect to loans made under section 502 of the Housing Act of 1949 (42 U.S.C. 1472) before, on, or after the date of enactment of this Act.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/p" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="p">(p) </num><heading style="-uslm-dtd:header">Release of Liability for Section 502 Guaranteed Borrower Upon Assumption of Original Loan by New Borrower.—</heading><chapeau style="-uslm-dtd:text">Section 502(h) of the Housing Act of 1949 (42 U.S.C. 1472(h)) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s502/p/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking paragraph (10) and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="10">“(10) </num><heading style="-uslm-dtd:header">Transfer and assumption.—</heading><content style="-uslm-dtd:text">Upon the transfer of property for which a guaranteed loan under this subsection was made, and the assumption of the guaranteed loan by an approved eligible borrower, the original borrower of a guaranteed loan under this subsection shall be relieved of liability with respect to the loan.”</content> </paragraph></quotedContent>;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/p/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by redesignating paragraph (16) as paragraph (17); and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/p/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by inserting after paragraph (15) the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="16">“(16) </num><heading style="-uslm-dtd:header">Fee.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The mortgagee may charge an assuming borrower a reasonable and customary processing fee for an assumption request made under this subsection.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Maximum fee.—</heading><content style="-uslm-dtd:text">The Secretary shall set a maximum allowable fee described in subparagraph (A), which may be indexed for inflation.”</content> </subparagraph> </paragraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/q" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="q">(q) </num><heading style="-uslm-dtd:header">Department of Agriculture Loan Restrictions.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s502/q/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Definitions.—</heading><content style="-uslm-dtd:text">In this subsection, the terms “State” and “tribal organization” have the meanings given those terms in section 658P of the Child Care and Development Block Grant Act of 1990 (42 U.S.C. 9858n).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/q/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Revision.—</heading><chapeau style="-uslm-dtd:text">The Secretary of Agriculture shall revise section 3555.102(c) of title 7, Code of Federal Regulations, to exclude from the restriction under that section—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s502/q/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a home-based business that is a licensed, registered, or regulated child care provider under State law or by a tribal organization; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/q/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">an applicant that has applied to become a licensed, registered, or regulated child care provider under State law or by a tribal organization.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/r" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="r">(r) </num><heading style="-uslm-dtd:header">Loan Guarantees.—</heading><chapeau style="-uslm-dtd:text">Section 502(h)(4) of the Housing Act of 1949 (42 U.S.C. 1472(h)(4)) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s502/r/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by redesignating subparagraphs (A), (B), and (C) as clauses (i), (ii), and (iii), respectively, and adjusting the margins accordingly;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/r/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Loans may be guaranteed</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Definition.—</heading><chapeau style="-uslm-dtd:text">In this paragraph, the term ‘<quotedText style="-uslm-dtd:quote">accessory dwelling unit</quotedText>’ means a single, habitable living unit—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">with means of separate ingress and egress;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">that is usually subordinate in size;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">that can be added to, created within, or detached from a primary 1-unit, single-family dwelling; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">in combination with a primary 1-unit, single-family dwelling, constitutes a single interest in real estate.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Single-family requirement.—</heading><content style="-uslm-dtd:text">Loans may be guaranteed”</content> </subparagraph></quotedContent>; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/r/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Rule of construction.—</heading><chapeau style="-uslm-dtd:text">Nothing in this paragraph shall be construed to prohibit the leasing of an accessory dwelling unit or the use of rental income derived from such a lease to qualify for a loan guaranteed under this subsection—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">after the date of enactment of the 21st Century ROAD to Housing Act; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">if the property that is the subject of the loan was constructed before the date of enactment of the 21st Century ROAD to Housing Act.”</content> </clause> </subparagraph></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s502/s" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="s">(s) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1472">42 U.S.C. 1472 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Application Review.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s502/s/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Sense of congress.—</heading><chapeau style="-uslm-dtd:text">It is the sense of Congress, not later than 90 days after the date on which the Secretary of Agriculture receives an application for a loan, grant, or combined loan and grant under section 502 or 504 of the Housing Act of 1949 (42 U.S.C. 1472, 1474), the Secretary of Agriculture should—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s502/s/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">review the application;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/s/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">complete the underwriting;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/s/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">make a determination of eligibility with respect to the application; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/s/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">notify the applicant of determination.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s502/s/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Report.—</heading> <subparagraph identifier="/us/sComp/119/101/tV/s502/s/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Not later than 90 days after the date of enactment of this Act, and annually thereafter until the date described in subparagraph (B), the Secretary of Agriculture shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report—</chapeau> <clause identifier="/us/sComp/119/101/tV/s502/s/2/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">detailing the timeliness of eligibility determinations and final determinations with respect to applications under sections 502 and 504 of the Housing Act of 1949 (42 U.S.C. 1472, 1474), including justifications for any eligibility determinations taking longer than 90 days; and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s502/s/2/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">that includes recommendations to shorten the timeline for notifications of eligibility determinations described in clause (i) to not more than 90 days.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s502/s/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Date described.—</heading><content style="-uslm-dtd:text">The date described in this subparagraph is the date on which, during the preceding 5-year period, the Secretary of Agriculture provides each eligibility determination described in subparagraph (A) during the 90-day period beginning on the date on which each application is received.</content> </subparagraph> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tV/s503" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="503">SEC. 503. </num><heading style="-uslm-dtd:header">INCENTIVIZING LOCAL SOLUTIONS TO HOMELESSNESS. </heading> <content class="block" style="-uslm-dtd:text">Section 414 of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11373) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">“(f) </num><heading style="-uslm-dtd:header">Funding Cap Waiver Authority.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Notwithstanding any other provision of law or regulation, a recipient may request a waiver to the expenditure limit established pursuant to section 415(b) for amounts provided for each of fiscal years 2027 through 2030.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Waiver request.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">A recipient seeking a waiver described in paragraph (1) shall submit to the Secretary a waiver request that includes not more than the following:</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">A demonstration of local needs and circumstances that necessitate a waiver.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">A detailed plan for how the recipient intends to use funds.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">A justification for how the proposed use of funds supports the most recent Consolidated Plan submitted by the recipient.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">Any public input solicited under subparagraph (B)(ii).</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Notification.—</heading><chapeau style="-uslm-dtd:text">Each recipient shall—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">notify all subrecipients and local Continuums of Care that serve the recipient’s geographic area of the availability of waivers under this subsection; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">prior to the submission of a waiver request under subparagraph (A), solicit public input regarding the potential need for and proposed uses of such waiver.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Approval; publication.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">make all waiver requests submitted under subparagraph (A) publicly available on the website of the Department of Housing and Urban Development;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">not later than 60 days after the date on which the Secretary receives a waiver request under subparagraph (A), approve or deny the request; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">deny any waiver request submitted under subparagraph (A) by a recipient that relocates or threaten to relocate individuals or their property without providing emergency shelter, rapid rehousing, transitional housing, permanent supportive housing, or other permanent housing options.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Revocation.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">A waiver approved under this subsection shall remain in effect for the duration of the period of performance of fiscal year 2027 through 2030 grants, unless the recipient notifies the Secretary in writing that the recipient wishes to revoke the waiver.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Notification.—</heading><chapeau style="-uslm-dtd:text">If a recipient intends to revoke a waiver under subparagraph (A), the recipient shall—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">solicit input from subrecipients regarding the revocation before submitting the revocation; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">provide subrecipients with a summary of the input and the justification for the revocation in its submittal prior to notifying the Secretary in writing.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Publication.—</heading><content style="-uslm-dtd:text">The Secretary shall publish any revocation of a waiver under subparagraph (A) and the justification of the recipient for the waiver on the website of the Department of Housing and Urban Development.”</content> </subparagraph> </paragraph> </subsection></quotedContent>.</content> </section> <section identifier="/us/sComp/119/101/tV/s504" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="504">SEC. 504. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s5324">42 U.S.C. 5324 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">REFORMING DISASTER RECOVERY ACT. </heading> <subsection identifier="/us/sComp/119/101/tV/s504/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s504/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Department.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Department</quotedText>” means the Department of Housing and Urban Development.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Fund.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Fund</quotedText>” means the Long-Term Disaster Recovery Fund established under subsection (c).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s504/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Duties of the Department of Housing and Urban Development.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s504/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The offices and officers of the Department shall be responsible for—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s504/b/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">leading and coordinating the disaster-related responsibilities of the Department under the National Response Framework, the National Disaster Recovery Framework, and the National Mitigation Framework;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/b/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">coordinating and administering programs, policies, and activities of the Department related to disaster relief, long-term recovery, resiliency, and mitigation, including disaster recovery assistance under title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.);</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/b/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">supporting disaster-impacted communities as those communities specifically assess, plan for, and address the housing stock and housing needs in the transition from emergency shelters and interim housing to permanent housing of those displaced, especially among vulnerable populations and extremely low-, low-, and moderate-income households;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/b/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">collaborating with the Federal Emergency Management Agency and the Small Business Administration and across the Department to align disaster-related regulations and policies, including incorporation of consensus-based codes and standards and insurance purchase requirements, and ensuring coordination and reducing duplication among other Federal disaster recovery programs;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/b/1/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">promoting best practices in mitigation and resilient land use planning;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/b/1/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">coordinating technical assistance, including mitigation, resiliency, and recovery training and information on all relevant legal and regulatory requirements, to entities that receive disaster recovery assistance under title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.) that demonstrate capacity constraints; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/b/1/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">supporting State, Tribal, and local governments in developing, coordinating, and maintaining their capacity for disaster resilience and recovery and developing pre-disaster recovery and hazard mitigation plans, in coordination with the Federal Emergency Management Agency and other Federal agencies.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Establishment of the office of disaster management and resiliency.—</heading><content style="-uslm-dtd:text">Section 4 of the Department of Housing and Urban Development Act (42 U.S.C. 3533) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Office of Disaster Management and Resiliency.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Establishment.—</heading><content style="-uslm-dtd:text">There is established the Office of Disaster Management and Resiliency.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Duties.—</heading><chapeau style="-uslm-dtd:text">The Office of Disaster Management and Resiliency shall—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">be responsible for oversight and coordination of all departmental disaster preparedness and response responsibilities; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">coordinate with the Federal Emergency Management Agency, the Small Business Administration, and other offices of the Department in supporting recovery and resilience activities to provide a comprehensive approach in working with communities.”</content> </subparagraph> </paragraph> </subsection></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s504/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Long-Term Disaster Recovery Fund.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s504/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Establishment.—</heading><content style="-uslm-dtd:text">There is established in the Treasury of the United States an account to be known as the “Long-Term Disaster Recovery Fund”.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Deposits, transfers, and credit.—</heading> <subparagraph identifier="/us/sComp/119/101/tV/s504/c/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Fund shall consist of amounts appropriated, transferred, and credited to the Fund.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/c/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Transfers.—</heading><chapeau style="-uslm-dtd:text">The following may be transferred to the Fund:</chapeau> <clause identifier="/us/sComp/119/101/tV/s504/c/2/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">Amounts made available through section 106(c)(4) of the Housing and Community Development Act of 1974 (42 U.S.C. 5306(c)(4)) as a result of actions taken under section 104(e), 111, or 124(j) of such Act.</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/c/2/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">Any unobligated balances available until expended remaining or subsequently recaptured from amounts appropriated for any disaster and related purposes under the heading “<headingText style="-uslm-dtd:header-in-text">Community Development Fund</headingText>” in any Act prior to the establishment of the Fund.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/c/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Use of transferred amounts.—</heading><content style="-uslm-dtd:text">Amounts transferred to the Fund shall be used for the eligible uses described in paragraph (3).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/c/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Eligible uses of fund.—</heading> <subparagraph identifier="/us/sComp/119/101/tV/s504/c/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Amounts in the Fund shall be available—</chapeau> <clause identifier="/us/sComp/119/101/tV/s504/c/3/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">to provide assistance in the form of grants under section 124 of the Housing and Community Development Act of 1974, as added by subsection (d); and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/c/3/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">for activities of the Department that support the provision of such assistance, including necessary salaries and expenses, information technology, and capacity building, technical assistance, and pre-disaster readiness.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/c/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Set-aside.—</heading><content style="-uslm-dtd:text">Of each amount appropriated for or transferred to the Fund, 3 percent shall be made available for activities described in subparagraph (A)(ii), which shall be in addition to other amounts made available for those activities.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/c/3/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Transfer of funds.—</heading><chapeau style="-uslm-dtd:text">With respect to amounts made available for use in accordance with subparagraph (B)—</chapeau> <clause identifier="/us/sComp/119/101/tV/s504/c/3/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">amounts may be transferred to the account under the heading for “Program Offices—Salaries and Expenses—Community Planning and Development”, or any successor account, for the Department to carry out activities described in subparagraph(B); and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/c/3/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">amounts may be used for the activities described in subparagraph (A)(ii) and for the administrative costs of administering any funds appropriated to the Department under the heading “<headingText style="-uslm-dtd:header-in-text">Community Planning and Development—Community Development Fund</headingText>” for any major disaster declared under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5170) in any Act before the establishment of the Fund.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/c/3/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><heading style="-uslm-dtd:header">Inspector general.—</heading> <clause identifier="/us/sComp/119/101/tV/s504/c/3/D/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not less than one-tenth of 1 percent of each series of awards the Secretary makes from the Fund shall be transferred to the account under the heading “<headingText style="-uslm-dtd:header-in-text">Office of Inspector General</headingText>” for the Department of Housing and Urban Development to support audit activities and to investigate grantee noncompliance with program requirements and waste, fraud, and abuse as a result of appropriations made available through the Fund.</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/c/3/D/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><heading style="-uslm-dtd:header">Availability.—</heading><content style="-uslm-dtd:text">Funding under clause (i) shall not be made available to the Office of Inspector General until 90 days after the date on which the grantee plan or supplemental plan for the grantee is approved by the Secretary under subsection (c) or (f)(3)(C) of section 124 of the Housing and Community Development Act of 1974, as added by subsection (d), is approved by the Secretary.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/c/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Interchangeability of prior administrative amounts.—</heading><content style="-uslm-dtd:text">Any amounts appropriated in any Act prior to the establishment of the Fund and transferred to the account under the heading “<headingText style="-uslm-dtd:header-in-text">Program Offices—Salaries and Expenses—Community Planning and Development</headingText>”, or any predecessor account, for the Department for the costs of administering funds appropriated to the Department under the heading “<headingText style="-uslm-dtd:header-in-text">Community Planning and Development—Community Development Fund</headingText>” for any major disaster declared under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5170) shall be available for the costs of administering any such funds provided by any prior or future Act, notwithstanding the purposes for which those amounts were appropriated and in addition to any amount provided for the same purposes in other appropriations Acts.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/c/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Availability of amounts.—</heading><content style="-uslm-dtd:text">Amounts appropriated, transferred, and credited to the Fund shall remain available until expended.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/c/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Formula allocation.—</heading><content style="-uslm-dtd:text">Use of amounts in the Fund for grants shall be made by formula allocation in accordance with the requirements of section 124(a) of the Housing and Community Development Act of 1974, as added by subsection (d).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s504/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Establishment of CDBG Disaster Recovery Program.—</heading><chapeau style="-uslm-dtd:text">Title I of the Housing and Community Development Act of 1974 (42 U.S.C. 5301 et seq.), as amended by this Act, is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s504/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">in section 102(a) (42 U.S.C. 5302(a))—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s504/d/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">in paragraph (20)—</chapeau> <clause identifier="/us/sComp/119/101/tV/s504/d/1/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">by redesignating subparagraph (B) as subparagraph (C);</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/d/1/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">in subparagraph (C), as so redesignated, by inserting “<quotedText style="-uslm-dtd:quote">or (B)</quotedText>” after “<quotedText style="-uslm-dtd:quote">subparagraph (A)</quotedText>”; and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/d/1/A/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">by inserting after subparagraph (A) the following:<quotedContent style="-uslm-dtd:quoted-block"> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">persons of extremely low income</quotedText>’ means families and individuals whose income levels do not exceed household income levels determined by the Secretary under section 3(b)(2) of the United States Housing Act of 1937 (42 U.S.C. 1437a(b)(2)(C)), except that the Secretary may provide alternative definitions for the Commonwealth of Puerto Rico, Guam, the Commonwealth of the Northern Mariana Islands, the United States Virgin Islands, and American Samoa.”</content> </subparagraph></quotedContent>; and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/d/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="25">“(25) </num><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">major disaster</quotedText>’ has the meaning given the term in section 102 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5122).”</content> </paragraph></quotedContent>;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in section 106(c)(4) (42 U.S.C. 5306(c)(4))—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s504/d/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">in subparagraph (A)—</chapeau> <clause identifier="/us/sComp/119/101/tV/s504/d/2/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">declared by the President under the Robert T. Stafford Disaster Relief and Emergency Assistance Act</quotedText>”;</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/d/2/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">States for use in nonentitlement areas and to</quotedText>” before “<quotedText style="-uslm-dtd:quote">metropolitan cities</quotedText>”; and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/d/2/A/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">major</quotedText>” after “<quotedText style="-uslm-dtd:quote">affected by the</quotedText>”;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/d/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">in subparagraph (C)—</chapeau> <clause identifier="/us/sComp/119/101/tV/s504/d/2/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">metropolitan city or</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">State, metropolitan city, or</quotedText>”;</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/d/2/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">city or county</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">State, city, or county</quotedText>”; and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/d/2/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">major</quotedText>” before “<quotedText style="-uslm-dtd:quote">disaster</quotedText>”;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/d/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">in subparagraph (D), by striking “<quotedText style="-uslm-dtd:quote">metropolitan cities and</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">States, metropolitan cities, and</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/d/2/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><chapeau style="-uslm-dtd:text">in subparagraph (F)—</chapeau> <clause identifier="/us/sComp/119/101/tV/s504/d/2/D/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">metropolitan city or</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">State, metropolitan city, or</quotedText>”; and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/d/2/D/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">major</quotedText>” before “<quotedText style="-uslm-dtd:quote">disaster</quotedText>”; and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/d/2/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">in subparagraph (G), by striking “<quotedText style="-uslm-dtd:quote">metropolitan city or</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">State, metropolitan city, or</quotedText>”;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/d/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">in section 122 (42 U.S.C. 5321), by striking “<quotedText style="-uslm-dtd:quote">disaster under title IV of the Robert T. Stafford Disaster Relief and Emergency Assistance Act</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">major disaster</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/d/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="124">“SEC. 124. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s5324">42 U.S.C. 5324</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">COMMUNITY DEVELOPMENT BLOCK GRANT DISASTER RECOVERY PROGRAM </heading> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">Authorization, Formula, and Allocation.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Authorization.—</heading><content style="-uslm-dtd:text">The Secretary is authorized to make community development block grant disaster recovery grants from the Long-Term Disaster Recovery Fund established under section 504(c) of the 21st Century ROAD to Housing Act (in this section referred to as the ‘Fund’) for necessary expenses for activities authorized under subsection (f)(1) related to disaster relief, long-term recovery, restoration of housing and infrastructure, economic revitalization, and mitigation in the most impacted and distressed areas resulting from a catastrophic major disaster.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Grant awards.—</heading><content style="-uslm-dtd:text">Grants shall be awarded under this section to States, units of general local government, and Indian tribes based on capacity and the concentration of damage, as determined by the Secretary, to support the efficient and effective administration of funds.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Section 106 allocations.—</heading><content style="-uslm-dtd:text">Grants under this section shall not be considered relevant to the formula allocations made pursuant to section 106.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Federal register notice.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not later than 30 days after the date of enactment of this section, the Secretary shall issue a notice in the Federal Register containing the latest formula allocation methodologies used to determine the total estimate of unmet needs related to housing, economic revitalization, and infrastructure in the most impacted and distressed areas resulting from a catastrophic major disaster.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Public comment.—</heading><chapeau style="-uslm-dtd:text">If the Secretary has not already requested public comment on the formula described in the notice required by subparagraph (A), the Secretary shall solicit public comments on—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">the methodologies described in subparagraph (A) and seek alternative methods for formula allocation within a similar total amount of funding;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">the impact of formula methodologies on rural areas and Tribal areas;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">adjustments to improve targeting to the most serious needs;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">objective criteria for grantee capacity and concentration of damage to inform grantee determinations and minimum allocation thresholds; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">“(v) </num><content style="-uslm-dtd:text">research and data to inform an additional amount to be provided for mitigation depending on type of disaster, which shall be up to 18 percent of the total estimate of unmet needs.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Regulations.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary shall, by regulation, establish a formula to allocate assistance from the Fund to the most impacted and distressed areas resulting from a catastrophic major disaster.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Formula requirements.—</heading><chapeau style="-uslm-dtd:text">The formula established under subparagraph (A) shall—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">set forth criteria to determine that a major disaster is catastrophic, which criteria shall consider the presence of a high concentration of damaged housing or businesses that individual, State, Tribal, and local resources could not reasonably be expected to address without additional Federal assistance or other nationally encompassing data that the Secretary determines are adequate to assess relative impact and distress across geographic areas;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">include a methodology for identifying most impacted and distressed areas, which shall consider unmet serious needs related to housing, economic revitalization, and infrastructure;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">include an allocation calculation that considers the unmet serious needs resulting from the catastrophic major disaster and an additional amount up to 18 percent for activities to reduce risks of loss resulting from other natural disasters in the most impacted and distressed area, primarily for the benefit of low- and moderate-income persons, with particular focus on activities that reduce repetitive loss of property and critical infrastructure; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">establish objective criteria for periodic review and updates to the formula to reflect changes in available data.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Minimum allocation threshold.—</heading><content style="-uslm-dtd:text">The Secretary shall, by regulation, establish a minimum allocation threshold.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Interim allocation.—</heading><chapeau style="-uslm-dtd:text">Until such time that the Secretary issues final regulations under this paragraph, the Secretary shall—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">allocate assistance from the Fund using the formula allocation methodology published in accordance with paragraph (4); and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">include an additional amount for mitigation of up to 18 percent of the total estimate of unmet need.</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">“(6) </num><heading style="-uslm-dtd:header">Allocation of funds.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">except as provided in clause (ii), not later than 90 days after the President declares a major disaster, use best available data to determine whether the major disaster is catastrophic and qualifies for assistance under the formula described in paragraph (4) or (5), unless data is insufficient to make this determination; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">if the best available data is insufficient to make the determination required under clause (i) within the 90-day period described in that clause, determine whether the major disaster qualifies when sufficient data becomes available, but in no case shall the Secretary make the determination later than 120 days after the declaration of the major disaster.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Announcement of allocation.—</heading><content style="-uslm-dtd:text">If amounts are available in the Fund at the time the Secretary determines that the major disaster is catastrophic and qualifies for assistance under the formula described in paragraph (4) or (5), the Secretary shall immediately announce an allocation for a grant under this section.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Additional amounts.—</heading><content style="-uslm-dtd:text">If additional amounts are appropriated to the Fund after amounts are allocated under subparagraph (B), the Secretary shall announce an allocation or additional allocation (if a prior allocation under subparagraph (B) was less than the formula calculation) within 15 days of any such appropriation.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">“(7) </num><heading style="-uslm-dtd:header">Preliminary funding.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">To speed recovery, the Secretary is authorized to allocate and award preliminary grants from the Fund before making a determination under paragraph (6)(A) if the Secretary projects, based on a preliminary assessment of impact and distress, that a major disaster is catastrophic and would likely qualify for funding under the formula described in paragraph (4) or (5).</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Amount.—</heading> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Maximum.—</heading><content style="-uslm-dtd:text">The Secretary may award preliminary funding under subparagraph (A) in an amount that is not more than $5,000,000.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Sliding scale.—</heading><content style="-uslm-dtd:text">The Secretary shall, by regulation, establish a sliding scale for preliminary funding awarded under subparagraph (A) based on the size of the preliminary assessment of impact and distress.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Use of funds.—</heading><chapeau style="-uslm-dtd:text">The uses of preliminary funding awarded under subparagraph (A) shall be limited to eligible activities that—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">in the determination of the Secretary, will support faster recovery, improve the ability of the grantee to assess unmet recovery needs, plan for the prevention of improper payments, and reduce fraud, waste, and abuse; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">may include evaluating the interim housing, permanent housing, and supportive service needs of the disaster impacted community, with special attention to vulnerable populations, such as homeless and low- to moderate-income households, to inform the grantee action plan required under subsection (c).</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Consideration of funding.—</heading><chapeau style="-uslm-dtd:text">Preliminary funding awarded under subparagraph (A)—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">is not subject to the certification requirements of subsection (h)(2); and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">shall not be considered when calculating the amount of the grant used for administrative costs, technical assistance, and planning activities that are subject to the requirements under subsection (f)(3).</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><heading style="-uslm-dtd:header">Waiver.—</heading><content style="-uslm-dtd:text">To expedite the use of preliminary funding for activities described in this paragraph, the Secretary may waive or specify alternative requirements to the requirements of this section in accordance with subsection (i).</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">“(F) </num><heading style="-uslm-dtd:header">Amended award.—</heading> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">An award for preliminary funding under subparagraph (A) may be amended to add any subsequent amount awarded because of a determination by the Secretary that a major disaster is catastrophic and qualifies for assistance under the formula.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Applicability.—</heading><content style="-uslm-dtd:text">Notwithstanding subparagraph (D), amounts provided by an amendment under clause (i) are subject to the requirements under subsections (f)(1) and (h)(1) and other requirements on grant funds under this section.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">“(G) </num><heading style="-uslm-dtd:header">Technical assistance.—</heading><content style="-uslm-dtd:text">Concurrent with the allocation of any preliminary funding awarded under this paragraph, the Secretary shall assign or provide technical assistance to the recipient of the grant.</content> </subparagraph> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Interchangeability.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary is authorized to approve the use of grants under this section to be used interchangeably and without limitation for the same activities in the most impacted and distressed areas resulting from a declaration of another catastrophic major disaster that qualifies for assistance under the formula established under paragraph (4) or (5) of subsection (a) or a major disaster for which the Secretary allocated funds made available under the heading ‘<headingText style="-uslm-dtd:header-in-text">Community Development Fund</headingText>’ in any Act prior to the establishment of the Fund.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Requirements.—</heading><content style="-uslm-dtd:text">The Secretary shall establish requirements to expedite the use of grants under this section for the purpose described in paragraph (1).</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Emergency designation.—</heading><content style="-uslm-dtd:text">Amounts repurposed pursuant to this subsection that were previously designated by Congress as an emergency requirement pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 or a concurrent resolution on the budget are designated by the Congress as being for an emergency requirement pursuant to section 4001(a)(1) of S. Con. Res. 14 (117th Congress), the concurrent resolution on the budget for fiscal year 2022, and to legislation establishing fiscal year 2026 budget enforcement in the House of Representatives.</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Grantee Plans.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Requirement.—</heading><chapeau style="-uslm-dtd:text">Not later than 90 days after the date on which the Secretary announces a grant allocation under this section, unless an extension is granted by the Secretary, the grantee shall submit to the Secretary a plan for approval describing—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the activities the grantee will carry out with the grant under this section;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the criteria of the grantee for awarding assistance and selecting activities;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">how the use of the grant under this section will address disaster relief, long-term recovery, restoration of housing and infrastructure, economic revitalization, and mitigation in the most impacted and distressed areas;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">how the use of the grant funds for mitigation is consistent with hazard mitigation plans submitted to the Federal Emergency Management Agency under section 322 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5165);</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">the estimated amount proposed to be used for activities that will benefit persons of low and moderate income;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">“(F) </num><content style="-uslm-dtd:text">how the use of grant funds will repair and replace existing housing stock for vulnerable populations, including low- to moderate-income households;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">“(G) </num><content style="-uslm-dtd:text">how the grantee will address the priorities described in paragraph (5);</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">“(H) </num><content style="-uslm-dtd:text">how uses of funds are proportional to unmet needs, as required under paragraph (6);</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">for State grantees that plan to distribute grant amounts to units of general local government, a description of the method of distribution; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="J">“(J) </num><content style="-uslm-dtd:text">such other information as may be determined by the Secretary in regulation.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Public consultation.—</heading><chapeau style="-uslm-dtd:text">To permit public examination and appraisal of the plan described in paragraph (1), to enhance the public accountability of grantee, and to facilitate coordination of activities with different levels of government, when developing the plan or substantial amendments proposed to the plan required under paragraph (1), a grantee shall—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">publish the plan before adoption;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">provide citizens, affected units of general local government, and other interested parties with reasonable notice of, and opportunity to comment on, the plan, with a public comment period of not less than 14 days;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">consider comments received before submission to the Secretary;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">follow a citizen participation plan for disaster assistance adopted by the grantee that, at a minimum, provides for participation of residents of the most impacted and distressed area affected by the major disaster that resulted in the grant under this section and other considerations established by the Secretary; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">undertake any consultation with interested parties as may be determined by the Secretary in regulation.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Approval.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">by regulation, specify criteria for the approval, partial approval, or disapproval of a plan submitted under paragraph (1), including approval of substantial amendments to the plan;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">review a plan submitted under paragraph (1) upon receipt of the plan;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">allow a grantee to revise and resubmit a plan or substantial amendment to a plan under paragraph (1) that the Secretary disapproves;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">by regulation, specify criteria for when the grantee shall be required to provide the required revisions to a disapproved plan or substantial amendment under paragraph (1) for public comment prior to resubmission of the plan or substantial amendment to the Secretary; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">approve, partially approve, or disapprove a plan or substantial amendment under paragraph (1) not later than 60 days after the date on which the plan or substantial amendment is received by the Secretary.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Low- and moderate-income overall benefit.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Use of funds.—</heading><chapeau style="-uslm-dtd:text">Not less than 70 percent of a grant made under this section shall be used for activities that benefit persons of low and moderate income unless the Secretary—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><chapeau style="-uslm-dtd:text">specifically finds that—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">there is compelling need to reduce the percentage for the grant; and</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">the housing needs of low- and moderate-income persons have been addressed; and</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">issues a waiver and alternative requirement specific to the grant pursuant to subsection (i) to lower the percentage.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Regulations.—</heading><content style="-uslm-dtd:text">The Secretary shall, by regulation, establish protocols that reflect the required use of funds under subparagraph (A), including persons with extremely and very low incomes.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Prioritization.—</heading><chapeau style="-uslm-dtd:text">The grantee shall prioritize activities that—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">assist persons with extremely low-, low-, and moderate-incomes and other vulnerable populations to better recover from and withstand future disasters;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">address housing needs arising from a disaster, or those needs present prior to a disaster, including the needs of both renters and homeowners;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">prolong the life of housing and infrastructure;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">use cost-effective means of preventing harm to people and property and incorporate protective features and redundancies; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">other measures that will assure the continuation of critical services during future disasters.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">“(6) </num><heading style="-uslm-dtd:header">Proportional allocation.—</heading><chapeau style="-uslm-dtd:text">For each specific disaster, a grantee under this section shall allocate grant funds proportional to unmet needs between housing activities for renters and homeowners, economic revitalization, and infrastructure unless the Secretary specifically finds that—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">there is a compelling need for a disproportional allocation among those unmet needs; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the disproportional allocation described in subparagraph (A) is not inconsistent with the requirements under paragraph (4).</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">“(7) </num><heading style="-uslm-dtd:header">Disaster risk mitigation.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Definition.—</heading><chapeau style="-uslm-dtd:text">In this paragraph, the term ‘<quotedText style="-uslm-dtd:quote">hazard-prone areas</quotedText>’—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">means areas identified by the Secretary, in consultation with the Administrator of the Federal Emergency Management Agency, at risk from natural hazards that threaten property damage or health, safety, and welfare, such as floods, wildfires (including Wildland-Urban Interface areas), earthquakes, lava inundation, tornados, and high winds; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">includes areas having special flood hazards as identified under the Flood Disaster Protection Act of 1973 (42 U.S.C. 4002 et seq.) or the National Flood Insurance Act of 1968 (42 U.S.C. 4001 et seq.).</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Hazard-prone areas.—</heading><content style="-uslm-dtd:text">The Secretary, in consultation with the Administrator of the Federal Emergency Management Agency, shall establish minimum construction standards, insurance purchase requirements, and other requirements for the use of grant funds in hazard-prone areas.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Special flood hazards.—</heading> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">For the areas described in subparagraph (A)(ii), the insurance purchase requirements established under subparagraph (B) shall meet or exceed the requirements under section 102(a) of the Flood Disaster Protection Act of 1973 (42 U.S.C. 4012a(a)).</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Treatment as financial assistance.—</heading><content style="-uslm-dtd:text">All grants under this section shall be treated as financial assistance for purposes of section 3(a)(3) of the Flood Disaster Protection Act of 1973 (42 U.S.C. 4003(a)(3)).</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Consideration of future risks.—</heading><content style="-uslm-dtd:text">The Secretary may consider future risks to protecting property and health, safety, and general welfare, and the likelihood of those risks, when making the determination of or modification to hazard-prone areas under this paragraph.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">“(8) </num><heading style="-uslm-dtd:header">Relocation.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 (42 U.S.C. 4601 et seq.) shall apply to activities assisted under this section to the extent determined by the Secretary in regulation, or as provided in waivers or alternative requirements authorized in accordance with subsection (i).</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Policy.—</heading><chapeau style="-uslm-dtd:text">Each grantee under this section shall establish a relocation assistance policy that—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">minimizes displacement and describes the benefits available to persons displaced as a direct result of acquisition, rehabilitation, or demolition in connection with an activity that is assisted by a grant under this section; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">includes any appeal rights or other requirements that the Secretary establishes by regulation.</content> </clause> </subparagraph> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">“(d) </num><heading style="-uslm-dtd:header">Certifications.—</heading><chapeau style="-uslm-dtd:text">Any grant under this section shall be made only if the grantee certifies to the satisfaction of the Secretary that—</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">the grantee is in full compliance with the requirements under subsection (c)(2);</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">for grants other than grants to Indian tribes, the grant will be conducted and administered in conformity with the Civil Rights Act of 1964 (42 U.S.C. 2000a et seq.) and the Fair Housing Act (42 U.S.C. 3601 et seq.);</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">the projected use of funds has been developed so as to give maximum feasible priority to activities that will benefit recipients described in subsection (c)(4)(A) and activities described in subsection (c)(5), and may also include activities that are designed to aid in the prevention or elimination of slum and blight to support disaster recovery, meet other community development needs having a particular urgency because existing conditions pose a serious and immediate threat to the health or welfare of the community where other financial resources are not available to meet such needs, and alleviate future threats to human populations, critical natural resources, and property that an analysis of hazards shows are likely to result from natural disasters in the future;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">the grant funds shall principally benefit persons of low- and moderate-income as described in subsection (c)(4)(A);</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><content style="-uslm-dtd:text">for grants other than grants to Indian tribes, within 24 months of receiving a grant or at the time of its 3- or 5-year update, whichever is sooner, the grantee will review and make modifications to its non-disaster housing and community development plans and strategies required by subsections (c) and (m) of section 104 to reflect the disaster recovery needs identified by the grantee and consistency with the plan under subsection (c)(1);</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">“(6) </num><chapeau style="-uslm-dtd:text">the grantee will not attempt to recover any capital costs of public improvements assisted in whole or part under this section by assessing any amount against properties owned and occupied by persons of low and moderate income, including any fee charged or assessment made as a condition of obtaining access to such public improvements, unless—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">funds received under this section are used to pay the proportion of such fee or assessment that relates to the capital costs of such public improvements that are financed from revenue sources other than under this chapter; or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">for purposes of assessing any amount against properties owned and occupied by persons of moderate income, the grantee certifies to the Secretary that the grantee lacks sufficient funds received under this section to comply with the requirements of subparagraph (A);</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">“(7) </num><content style="-uslm-dtd:text">the grantee will comply with the other provisions of this title that apply to assistance under this section and with other applicable laws;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">“(8) </num><content style="-uslm-dtd:text">the grantee will follow a relocation assistance policy that includes any minimum requirements identified by the Secretary; and</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="9">“(9) </num><content style="-uslm-dtd:text">the grantee will adhere to construction standards, insurance purchase requirements, and other requirements for development in hazard-prone areas described in subsection (c)(7).</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">“(e) </num><heading style="-uslm-dtd:header">Performance Reviews and Reporting.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall, on not less frequently than an annual basis until the closeout of a particular grant allocation, make such reviews and audits as may be necessary or appropriate to determine whether a grantee under this section has—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">carried out activities using grant funds in a timely manner;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">met the performance targets established by paragraph (2);</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">carried out activities using grant funds in accordance with the requirements of this section, the other provisions of this title that apply to assistance under this section, and other applicable laws; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">a continuing capacity to carry out activities in a timely manner.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Performance targets.—</heading><content style="-uslm-dtd:text">The Secretary shall develop and make publicly available critical performance targets for review, which shall include spending thresholds for each year from the date on which funds are obligated by the Secretary to the grantee until such time all funds have been expended.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Failure to meet targets.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Suspension.—</heading><content style="-uslm-dtd:text">If a grantee under this section fails to meet 1 or more critical performance targets under paragraph (2), the Secretary may temporarily suspend the grant.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Performance improvement plan.—</heading><content style="-uslm-dtd:text">If the Secretary suspends a grant under subparagraph (A), the Secretary shall provide to the grantee a performance improvement plan with the specific requirements needed to lift the suspension within a defined time period.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">If a grantee fails to meet the spending thresholds established under paragraph (2), the grantee shall submit to the Secretary, the appropriate committees of Congress, and each member of Congress who represents a district or State of the grantee a written report identifying technical capacity, funding, or other Federal or State impediments affecting the ability of the grantee to meet the spending thresholds.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Collection of information and reporting.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Requirement to report.—</heading><content style="-uslm-dtd:text">A grantee under this section shall provide to the Secretary such information as the Secretary may determine necessary for adequate oversight of the grant program under this section.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Public availability.—</heading><content style="-uslm-dtd:text">Subject to subparagraph (D), the Secretary shall make information submitted under subparagraph (A) available to the public and to the Inspector General for the Department of Housing and Urban Development.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Summary status reports.—</heading><chapeau style="-uslm-dtd:text">To increase transparency and accountability of the grant program under this section, the Secretary shall, on not less frequently than an annual basis, post on a public facing dashboard summary status reports for all active grants under this section that includes—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">the status of funds by activity;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">the percentages of funds allocated and expended to benefit low- and moderate-income communities;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">performance targets, spending thresholds, and accomplishments; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">other information the Secretary determines to be relevant for transparency.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Considerations.—</heading><content style="-uslm-dtd:text">In carrying out this paragraph, the Secretary shall take such actions as may be necessary to ensure that personally identifiable information regarding applicants for assistance provided from funds made available under this section is not made publicly available.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><heading style="-uslm-dtd:header">Research partnerships.—</heading> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary may, upon a formal request from researchers, make disaggregated information available to the requestor that is specific and relevant to the research being conducted, and for the purposes of researching program impact and efficacy.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Privacy protections.—</heading><content style="-uslm-dtd:text">In making information available under clause (i), the Secretary shall protect personally identifiable information as required under section 552a of title 5, United States Code (commonly known as the ‘Privacy Act of 1974’).</content> </clause> </subparagraph> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">“(f) </num><heading style="-uslm-dtd:header">Eligible Activities.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Activities assisted under this section—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">may include activities permitted under section 105 or other activities permitted by the Secretary by waiver or alternative requirement pursuant to subsection (i); and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">shall be related to disaster relief, long-term recovery, restoration of housing and infrastructure, economic revitalization, and mitigation in the most impacted and distressed areas resulting from the major disaster for which the grant was awarded.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Prohibition.—</heading><content style="-uslm-dtd:text">Grant funds under this section may not be used for costs reimbursable by, or for which funds have been made available by, the Federal Emergency Management Agency or the United States Army Corps of Engineers.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Administrative costs, technical assistance, and planning.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary shall establish in regulation the maximum grant amounts a grantee may use for administrative costs, technical assistance, and planning activities, taking into consideration size of grant, complexity of recovery, and other factors as determined by the Secretary, but not to exceed 8 percent for administration and 20 percent in total.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Availability.—</heading><content style="-uslm-dtd:text">Amounts available for administrative costs for a grant under this section shall be available for eligible administrative costs of the grantee for any grant made under this section, without regard to a particular disaster.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Supplemental plan.—</heading> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Grantees may submit to the Secretary an optional supplemental plan to the grantee plan required under this title specifically for administrative costs, which shall include a description of the use of all grant funds for administrative costs, including for any eligible pre-award program administrative costs, and how such uses will prepare the grantee to more effectively and expeditiously administer funds provided under the full plan.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Use of funds.—</heading><content style="-uslm-dtd:text">If a supplemental plan is approved under clause (i), a grantee may draw down the aforementioned administrative funds before the full grantee plan is approved.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><heading style="-uslm-dtd:header">Waivers.—</heading><content style="-uslm-dtd:text">In carrying out this subparagraph, the Secretary may include any waivers or alternative requirements in accordance with subsection (i).</content> </clause> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Program income.—</heading><chapeau style="-uslm-dtd:text">Notwithstanding any other provision of law, any grantee under this section may retain program income that is realized from grants made by the Secretary under this section if the grantee agrees that the grantee will utilize the program income in accordance with the requirements for grants under this section, except that the Secretary may—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">by regulation, exclude from consideration as program income any amounts determined to be so small that compliance with this paragraph creates an unreasonable administrative burden on the grantee; or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">permit the grantee to transfer remaining program income to the other grants of the grantee under this title upon closeout of the grant.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Prohibition on use of assistance for employment relocation activities.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Grants under this section may not be used to assist directly in the relocation of any industrial or commercial plant, facility, or operation, from one area to another area, if the relocation is likely to result in a significant loss of employment in the labor market area from which the relocation occurs.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Applicability.—</heading><content style="-uslm-dtd:text">The prohibition under subparagraph (A) shall not apply to a business that was operating in the disaster-declared labor market area before the incident date of the applicable disaster and has since moved, in whole or in part, from the affected area to another State or to a labor market area within the same State to continue business.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">“(6) </num><heading style="-uslm-dtd:header">Requirements.—</heading><content style="-uslm-dtd:text">Grants under this section are subject to the requirements of this section, the other provisions of this title that apply to assistance under this section, and other applicable laws, unless modified by waivers or alternative requirements in accordance with subsection (i).</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">“(g) </num><heading style="-uslm-dtd:header">Environmental Review.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Adoption.—</heading><content style="-uslm-dtd:text">A recipient of funds provided under this section that uses the funds to supplement Federal assistance provided under section 203, 402, 403, 404, 406, 407, 408(c)(4), 428, or 502 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5170a, 5170b, 5170c, 5172, 5173, 5174(c)(4), 5189f, 5192) may adopt, without review or public comment, any environmental review, approval, or permit performed by a Federal agency, and such adoption shall satisfy the responsibilities of the recipient with respect to such environmental review, approval, or permit under section 104(g)(1), so long as the actions covered by the existing environmental review, approval, or permit and the actions proposed for these supplemental funds are substantially the same.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Approval of release of funds.—</heading><content style="-uslm-dtd:text">Notwithstanding section 104(g)(2), the Secretary or a State may, upon receipt of a request for release of funds and certification, immediately approve the release of funds for an activity or project to be assisted under this section if the recipient has adopted an environmental review, approval, or permit under paragraph (1) or the activity or project is categorically excluded from review under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.).</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Units of general local government.—</heading><content style="-uslm-dtd:text">The provisions of section 104(g)(4) shall apply to assistance under this section that a State distributes to a unit of general local government.</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="h">“(h) </num><heading style="-uslm-dtd:header">Financial Controls and Procedures.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall develop requirements and procedures to demonstrate that a grantee under this section—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">has adequate financial controls and procurement processes;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">has adequate procedures to detect and prevent fraud, waste, abuse, and duplication of benefit; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">maintains a comprehensive and publicly accessible website.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Certification.—</heading><content style="-uslm-dtd:text">Before making a grant under this section, the Secretary shall certify that the grantee has in place proficient processes and procedures to comply with the requirements developed under paragraph (1), as determined by the Secretary.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Compliance before allocation.—</heading><content style="-uslm-dtd:text">The Secretary may permit a State, unit of general local government, or Indian tribe to demonstrate compliance with the requirements for adequate financial controls developed under paragraph (1) before a disaster occurs and before receiving an allocation for a grant under this section.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Duplication of benefits.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Funds made available under this section shall be used in accordance with section 312 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5155) and such rules as may be prescribed under such section 312.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Penalties.—</heading><chapeau style="-uslm-dtd:text">In any case in which the use of grant funds under this section results in a prohibited duplication of benefits, the grantee shall—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">apply an amount equal to the identified duplication to any allowable costs of the award consistent with an actual, immediate cash requirement;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">remit any excess amounts to the Secretary to be credited to the obligated, undisbursed balance of the grant consistent with requirements on Federal payments applicable to such grantee; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">if excess amounts under clause (ii) are identified after the period of performance or after the closeout of the award, remit such amounts to the Secretary to be credited to the Fund.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Failure to comply.—</heading><content style="-uslm-dtd:text">Any grantee provided funds under this section or from prior appropriations Acts under the heading ‘<headingText style="-uslm-dtd:header-in-text">Community Development Fund</headingText>’ for purposes related to major disasters that fails to comply with section 312 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5155) or fails to satisfy penalties to resolve a duplication of benefits shall be subject to remedies for noncompliance under section 111, unless the Secretary publishes a determination in the Federal Register that it is not in the best interest of the Federal Government to pursue remedial actions.</content> </subparagraph> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Waivers and Alternative Requirements.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">In administering grants under this section, the Secretary may waive, or specify alternative requirements for, any provision of any statute or regulation that the Secretary administers in connection with the obligation by the Secretary or the use by the grantee of those funds (except for requirements related to fair housing, nondiscrimination, labor standards, the environment, and the requirements of this section that do not expressly authorize modifications by waiver or alternative requirement), if the Secretary makes a public finding that good cause exists for the waiver or alternative requirement.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Effective date.—</heading><content style="-uslm-dtd:text">A waiver or alternative requirement described in paragraph (1) shall not take effect before the date that is 5 days after the date of publication of the waiver or alternative requirement on the website of the Department of Housing and Urban Development or the effective date for any regulation published in the Federal Register.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Public notification.—</heading><content style="-uslm-dtd:text">The Secretary shall notify the public of all waivers or alternative requirements described in paragraph (1) in accordance with the requirements of section 7(q)(3) of the Department of Housing and Urban Development Act (42 U.S.C. 3535(q)(3)).</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="j">“(j) </num><heading style="-uslm-dtd:header">Unused Amounts.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Deadline to use amounts.—</heading><content style="-uslm-dtd:text">A grantee under this section shall use an amount equal to the grant within 6 years beginning on the date on which the Secretary obligates the amounts to the grantee, as such period may be extended under paragraph (4).</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Recapture.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall recapture and credit to the Fund any amount that is unused by a grantee under this section upon the earlier of—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the date on which the grantee notifies the Secretary that the grantee has completed all activities identified in the disaster grantee’s plan under subsection (c); or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the expiration of the 6-year period described in paragraph (1), as such period may be extended under paragraph (4).</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Retention of funds.—</heading><chapeau style="-uslm-dtd:text">Notwithstanding paragraph (1), the Secretary—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">shall allow a grantee under this section to retain amounts needed to close out grants; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">may allow a grantee under this section to retain up to 10 percent of the remaining funds to support maintenance of the minimal capacity to launch a new program in the event of a future disaster and to support pre-disaster long-term recovery and mitigation planning.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Extension of period for use of funds.—</heading><chapeau style="-uslm-dtd:text">The Secretary may extend the 6-year period described in paragraph (1) by not more than 4 years, or not more than 6 years for mitigation activities, if—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><chapeau style="-uslm-dtd:text">the grantee submits to the Secretary—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">written documentation of the exigent circumstances impacting the ability of the grantee to expend funds that could not be anticipated; or</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">a justification that such request is necessary due to the nature and complexity of the program and projects; and</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the Secretary submits a written justification for the extension to the Committee on Appropriations and the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Appropriations and the Committee on Financial Services of the House of Representatives that specifies the period of that extension.</content> </subparagraph> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="k">“(k) </num><heading style="-uslm-dtd:header">Definition.—</heading><content style="-uslm-dtd:text">In this section, the term ‘<quotedText style="-uslm-dtd:quote">Indian tribe</quotedText>’ has the meaning given the term in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4103).”</content> </subsection> </section></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s504/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Regulations.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s504/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Proposed rules.—</heading><content style="-uslm-dtd:text">Following consultation with the Federal Emergency Management Agency, the Small Business Administration, and other Federal agencies, not later than 6 months after the date of enactment of this Act, the Secretary shall issue proposed rules to carry out this section and the amendments made by this section and shall provide a 90-day period for submission of public comments on those proposed rules.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Final rules.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Secretary shall issue final regulations to carry out section 124 of the Housing and Community Development Act of 1974, as added by subsection (d).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s504/f" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Coordination of Disaster Recovery Assistance, Benefits, and Data With Other Federal Agencies.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s504/f/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Coordination of disaster recovery assistance.—</heading><content style="-uslm-dtd:text">In order to ensure a comprehensive approach to Federal disaster relief, long-term recovery, restoration of housing and infrastructure, economic revitalization, and mitigation in the most impacted and distressed areas resulting from a catastrophic major disaster, the Secretary shall coordinate with the Federal Emergency Management Agency, to the greatest extent practicable, in the implementation of assistance authorized under section 124 of the Housing and Community Development Act of 1974, as added by subsection (d).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/f/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Data sharing agreements.—</heading><content style="-uslm-dtd:text">To support the coordination of data to prevent duplication of benefits with other Federal disaster recovery programs while also expediting recovery and reducing burden on disaster survivors, the Department shall establish data sharing agreements that safeguard privacy with relevant Federal agencies to ensure disaster benefits effectively and efficiently reach intended beneficiaries, while using effective means of preventing harm to people and property.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/f/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Data transfer from fema and sba to hud.—</heading><content style="-uslm-dtd:text">As permitted and deemed necessary for efficient program execution, and consistent with a computer matching agreement entered into under paragraph (6)(A), the Administrator of the Federal Emergency Management Agency and the Administrator of the Small Business Administration shall provide data on disaster applicants to the Department, including, when necessary, personally identifiable information, disaster recovery needs, and resources determined eligible for, and amounts expended, to the Secretary for all major disasters declared by the President pursuant to section 401 of Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5170) for the purpose of providing additional assistance to disaster survivors and prevent duplication of benefits.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/f/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Data transfers from hud to hud grantees.—</heading><content style="-uslm-dtd:text">The Secretary is authorized to provide to grantees under section 124 of the Housing and Community Development Act of 1974, as added by subsection (d), offices of the Department, technical assistance providers, and lenders information that in the determination of the Secretary is reasonably available and appropriate to inform the provision of assistance after a major disaster, including information provided to the Secretary by the Administrator of the Federal Emergency Management Agency, the Administrator of the Small Business Administration, or other Federal agencies.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/f/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Data transfers from hud grantees to hud, fema, and sba.—</heading> <subparagraph identifier="/us/sComp/119/101/tV/s504/f/5/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Reporting.—</heading><content style="-uslm-dtd:text">Grantees under section 124 of the Housing and Community Development Act of 1974, as added by subsection (d), shall report information requested by the Secretary on households, businesses, and other entities assisted and the type of assistance provided.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/f/5/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Sharing information.—</heading><content style="-uslm-dtd:text">The Secretary shall share information collected under subparagraph (A) with the Federal Emergency Management Agency, the Small Business Administration, and other Federal agencies to support the planning and delivery of disaster recovery and mitigation assistance and other related purposes.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s504/f/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Privacy protection.—</heading> <subparagraph identifier="/us/sComp/119/101/tV/s504/f/6/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary may make and receive data transfers authorized under this subsection, including the use and retention of that data for computer matching programs, to inform the provision of assistance, assess disaster recovery needs, and prevent the duplication of benefits and other waste, fraud, and abuse, provided that—</chapeau> <clause identifier="/us/sComp/119/101/tV/s504/f/6/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the Secretary enters an information sharing agreement or a computer matching agreement, when required by section 522a of title 5, United States Code (commonly known as the “Privacy Act of 1974”), with the Administrator of the Federal Emergency Management Agency, the Administrator of the Small Business Administration, or other Federal agencies covering the transfer of data; and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/f/6/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the Secretary publishes intent to disclose data in the Federal Register.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s504/f/6/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Data sharing agreement.—</heading><chapeau style="-uslm-dtd:text">Notwithstanding clauses (i) and (ii) of subparagraph (A), section 552a of title 5, United States Code, or any other law, the Secretary is authorized to share data with an entity identified in paragraph (4), and the entity is authorized to use the data as described in this section, if the Secretary enters a data sharing agreement with the entity before sharing or receiving any information under transfers authorized by this section, which data sharing agreement shall—</chapeau> <clause identifier="/us/sComp/119/101/tV/s504/f/6/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">in the determination of the Secretary, include measures adequate to safeguard the privacy and personally identifiable information of individuals; and</content> </clause> <clause identifier="/us/sComp/119/101/tV/s504/f/6/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">include provisions that describe how the personally identifiable information of an individual will be adequately safeguarded and protected, which requires consultation with the Secretary and the head of each Federal agency the data of which is being shared subject to the agreement.</content> </clause> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s504/g" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Sunset.—</heading><content style="-uslm-dtd:text">The program under section 124 of the Housing and Community Development Act of 1974, as added by subsection (d) shall terminate on the date that is 3 years after the date of enactment of this Act.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s504/h" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="h">(h) </num><heading style="-uslm-dtd:header">Sense of Congress.—</heading><content style="-uslm-dtd:text">It is the sense of Congress that, should Congress opt to appropriate funds for disaster recovery through a similar successor program following the sunset date, subsection (g) shall not preclude Congress from doing so.</content> </subsection> <subsection identifier="/us/sComp/119/101/tV/s504/i" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">Application.—</heading><content style="-uslm-dtd:text">Grants made under section 124 of the Housing and Community Development Act of 1974, as added by subsection (d), after the date of enactment of this Act shall be carried out using amounts appropriated after the date of enactment of this Act.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tV/s505" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="505">SEC. 505. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1437f">42 U.S.C. 1437f note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">NEW MOVING TO WORK COHORT. </heading> <subsection identifier="/us/sComp/119/101/tV/s505/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s505/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Moving to work demonstration.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Moving to Work demonstration</quotedText>” means the Moving to Work demonstration authorized under section 204 of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (42 U.S.C. 1437f note).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s505/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Authorization of Additional Public Housing Agencies.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s505/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">After the completion of the initial report required under subsection (h)(2), the Secretary may add up to an additional 25 public housing agencies that are designated as high performing agencies under the Public Housing Assessment System or the Section 8 Management Assessment Program to participate in a new cohort as part of the Moving to Work demonstration.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Name.—</heading><content style="-uslm-dtd:text">The new cohort authorized under paragraph (1) shall be entitled the “Economic Opportunity and Pathways to Independence Cohort”.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s505/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Waiver Authority.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s505/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Subject to this subsection, the authority of the Secretary to grant waivers to agencies admitted to the Moving to Work demonstration under this section or to designate policy changes as part of a cohort design under this section shall be limited to the Moving to Work waivers codified as of January 2025 in Appendix I of the document of the Department of Housing and Urban Development entitled “Operations Notice for the Expansion of the Moving to Work Demonstration Program” (FR-5994-N-05) published in the Federal Register on August 28, 2020, as amended by the notice entitled “Operations Notice for Expansion of the Moving to Work Demonstration Program Technical Revisions” (FR-5994-N-06) published in the Federal Register on March 20, 2025.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Modifications.—</heading><content style="-uslm-dtd:text">The Secretary may not waive the safe harbor requirements that apply to the Moving to Work waivers described in paragraph (1) or modify those waivers in any other way for the purposes of the new cohort under this section.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/c/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Exceptions.—</heading> <subparagraph identifier="/us/sComp/119/101/tV/s505/c/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Under paragraph (1), the Secretary may not grant waiver 1c, 1d, 1e, 1f, 1k, 1l, 1o, 1p, 1q, 6, 7, 9a, 9h, or 12 in the document described in paragraph (1), including modifications of or safe harbor requirement waivers for such waivers.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s505/c/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Specific wavers.—</heading><content style="-uslm-dtd:text">If the Secretary grants waiver 10 or 11 in the document described in paragraph (1), resident participation in any program administered pursuant to those waivers shall be optional for purposes of the new cohort under this section.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/c/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Policy options.—</heading><content style="-uslm-dtd:text">In carrying out the Moving to Work demonstration cohort established under this section, the Secretary may consider policy options to provide opt-out savings or escrow accounts and report positive rental payments to consumer reporting agencies (as defined in section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a)) with resident consent.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s505/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Funding and Use of Funds.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s505/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Public housing agencies in the cohort authorized under this section may expend not more than 5 percent of the amounts those public housing agencies receive in any fiscal year for housing assistance payments under section 8(o) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)) for purposes other than such housing assistance payments.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Other uses.—</heading><content style="-uslm-dtd:text">Such other uses of amounts described in paragraph (1) shall comply with all other applicable requirements.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/d/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Formula.—</heading> <subparagraph identifier="/us/sComp/119/101/tV/s505/d/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Renewal.—</heading><content style="-uslm-dtd:text">The amount of funding public housing agencies receive for renewal of housing assistance payments under section 8(o) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)) shall be determined according to the same funding formula applicable to public housing agencies that do not participate in the Moving to Work demonstration, except that the Secretary shall provide public housing agencies funding to renew any funds expended under this subsection, with an adjustment for inflation.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s505/d/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Administrative fees.—</heading><content style="-uslm-dtd:text">The amount of funding public housing agencies receive for administrative fees under section 8(q) of the United States Housing Act of 1937 (42 U.S.C. 1437f(q)), public housing operating subsidies under section 9(e) of the United States Housing Act of 1937 (42 U.S.C. 1437g(e)), and public housing capital funding under section 9(d) of the United States Housing Act of 1937 (42 U.S.C. 1437g(d)) shall be determined according to the same funding formula applicable to public housing agencies that do not participate in the Moving to Work demonstration.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s505/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Selection Requirements.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall select public housing agencies designated under this section through a competitive process, as determined by the Secretary, with the following parameters:</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s505/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">No public housing agency shall be granted this designation under this section that administers more than 27,000 aggregate housing vouchers and public housing units.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">Of the public housing agencies selected under this section, not more than 12 shall administer 1,000 or fewer aggregate housing vouchers and public housing units, not more than 8 shall administer between 1,001 and 6,000 aggregate housing vouchers and public housing units, and not more than 5 shall administer between 6,001 and 27,000 aggregate housing vouchers and public housing units.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/e/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">Selection of public housing agencies under this section shall be based on ensuring the geographic diversity of Moving to Work demonstration public housing agencies.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/e/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">Within the requirements under paragraphs (1) through (3), the Secretary shall prioritize selecting public housing agencies that serve families with children and youth aging out of foster care at a rate above the national average.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s505/f" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Requirements for Selected Public Housing Agencies.—</heading><chapeau style="-uslm-dtd:text">Consistent with section 204(c)(3) of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (42 U.S.C. 1437f note), public housing agencies selected for the Moving to Work demonstration under this section shall—</chapeau> <paragraph identifier="/us/sComp/119/101/tV/s505/f/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">ensure that not less than 75 percent of the families assisted are very low-income families, as defined in section 3(b)(2)(B) of the United States Housing Act of 1937 (42 U.S.C. 1437a(b)(2)(B));</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/f/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">establish a reasonable rent policy, which shall be designed to encourage employment and self-sufficiency by participating families, consistent with the purpose of the Moving to Work demonstration, such as by excluding some or all of a family’s earned income for purposes of determining rent;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/f/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">continue to assist substantially the same total number of eligible low-income families as would have been served had the amounts not been combined;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/f/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">maintain a comparable mix of families (by family size) as would have been provided had the amounts not been used under the Moving to Work demonstration; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/f/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">assure that housing assisted under the Moving to Work demonstration meets housing quality standards established or approved by the Secretary.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s505/g" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Noncompliance.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s505/g/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">If the Secretary finds that a public housing agency participating in the cohort authorized under this section is not in compliance with the requirements under this section, the Secretary shall make a determination of noncompliance.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/g/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Compliance.—</heading><content style="-uslm-dtd:text">Upon making a determination under paragraph (1), the Secretary shall develop a process to bring the public housing agency into compliance.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/g/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Removal.—</heading><content style="-uslm-dtd:text">If a public housing agency cannot be brought into compliance under the process developed under paragraph (2), the Secretary shall remove the participating public housing agency from the cohort and replace it with a similarly qualified public housing agency currently not in the cohort chosen in the manner described in subsection (e).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/g/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Notification.—</heading><chapeau style="-uslm-dtd:text">Upon removing a public housing agency under paragraph (3), the Secretary shall immediately submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives—</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s505/g/4/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a notification of the removal; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s505/g/4/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">a report on the active steps the Secretary is taking to replace the public housing agency with a new public housing agency.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tV/s505/h" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="h">(h) </num><heading style="-uslm-dtd:header">Comprehensive Moving to Work Reporting and Oversight Requirements.—</heading> <paragraph identifier="/us/sComp/119/101/tV/s505/h/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Cohort research.—</heading> <subparagraph identifier="/us/sComp/119/101/tV/s505/h/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary shall continue ongoing research investigations commenced as part of the assessment of the cohorts established under section 239 of the Department of Housing and Urban Development Appropriations Act, 2016 (42 U.S.C. 1437f note; Public Law 114-113), make public all products completed as part of those investigations, and keep such products online for at least 5 years.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s505/h/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Coordination.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall coordinate with the advisory committee established under section 239 of the Department of Housing and Urban Development Appropriations Act, 2016 (42 U.S.C. 1437f note; Public Law 114-113) to establish a research program to evaluate the outcomes and efficacy of the following for all Moving to Work demonstration agencies designated under the authority under such section and this section:</chapeau> <clause identifier="/us/sComp/119/101/tV/s505/h/1/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">The waivers granted to each cohort and whether those waivers accomplish the goals of achieving greater cost effectiveness and administrative capacity, incentivizing families to become economically self-sufficient, and increasing housing choice.</content> </clause> <clause identifier="/us/sComp/119/101/tV/s505/h/1/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">The additional flexibilities granted to individual public housing agencies under each cohort.</content> </clause> <clause identifier="/us/sComp/119/101/tV/s505/h/1/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">How the flexibilities described in clause (ii) were used for local, non-traditional activities.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/h/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Comprehensive reporting requirement.—</heading><chapeau style="-uslm-dtd:text">Not later than 180 days after the date of enactment of this Act, and annually thereafter, the Secretary shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report that contains the following for each Moving to Work demonstration cohort under section 204 of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (42 U.S.C. 1437f note), section 239 of the Department of Housing and Urban Development Appropriations Act, 2016 (42 U.S.C. 1437f note; Public Law 114-113), and this section:</chapeau> <subparagraph identifier="/us/sComp/119/101/tV/s505/h/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">The annual administrative plans of each Moving to Work demonstration public housing agency.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s505/h/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">Assessments of longitudinal data, including data on units, households, and outcomes, which shall be evaluated to compare changes in the following trends before and after Moving to Work demonstration designation:</chapeau> <clause identifier="/us/sComp/119/101/tV/s505/h/2/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">Impacts on tenants based on the following, disaggregated by the public housing program and the housing choice voucher program:</chapeau> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/i/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">Eviction rates.</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/i/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">Hardship policy usage.</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/i/III" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">Share of rent covered by a household.</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/i/IV" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="IV">(IV) </num><content style="-uslm-dtd:text">Turnover, including the number of household moves with or without continued assistance.</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/i/V" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="V">(V) </num><content style="-uslm-dtd:text">Reasons for exit from the program.</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/i/VI" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="VI">(VI) </num><content style="-uslm-dtd:text">The number and characteristics of households served, including households with a non-elderly family member with a disability, households with 3 or more minors, homelessness status at the time of admission, and average and median income as a percent of area median income.</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tV/s505/h/2/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><chapeau style="-uslm-dtd:text">Impacts on public housing agency operations based on the following:</chapeau> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">The number of units, broken down by type.</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">The size, including the number of bedrooms per unit, accessibility, affordability, and quality of units.</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/III" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">The length of each waitlist maintained and average wait times.</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/IV" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="IV">(IV) </num><content style="-uslm-dtd:text">Changes in capital backlog needs and surplus fund and reserve levels.</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/V" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="V">(V) </num><content style="-uslm-dtd:text">The number of public housing units undergoing a conversion under the rental assistance demonstration program authorized under the Department of Housing and Urban Development Appropriations Act, 2012 (Public Law 112-55; 125 Stat. 673) or demolition or disposition projects under section 18 of the United States Housing Act of 1937 (42 U.S.C. 1437p), including the number of units lost and the location of any replacement housing resulting from demolition or disposition.</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VI" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="VI">(VI) </num><content style="-uslm-dtd:text">The share of project-based vouchers compared to tenant-based vouchers.</content> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VII" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="VII">(VII) </num><chapeau style="-uslm-dtd:text">The following annual housing choice voucher data:</chapeau> <item identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VII/aa" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">Voucher unit utilization rates.</content> </item> <item identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VII/bb" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">Voucher budget utilization rates.</content> </item> <item identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VII/cc" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="cc">(cc) </num><content style="-uslm-dtd:text">Annualized voucher success rate.</content> </item> <item identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VII/dd" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="dd">(dd) </num><content style="-uslm-dtd:text">Demographic composition of households issued vouchers compared to utilized vouchers.</content> </item> <item identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VII/ee" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="ee">(ee) </num><content style="-uslm-dtd:text">Average time to lease-up.</content> </item> <item identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VII/ff" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="ff">(ff) </num><content style="-uslm-dtd:text">Average cost per voucher.</content> </item> <item identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VII/gg" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="gg">(gg) </num><content style="-uslm-dtd:text">Average cost per landlord incentive.</content> </item> <item identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VII/hh" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="hh">(hh) </num><content style="-uslm-dtd:text">Ratio of the proportion of voucher households living in concentrated low-income areas to the proportion of renter-occupied units in concentrated low-income areas.</content> </item> <item identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VII/ii" style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">Characteristics of census tracts where voucher recipients reside.</content> </item> </subclause> <subclause identifier="/us/sComp/119/101/tV/s505/h/2/B/ii/VIII" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="VIII">(VIII) </num><content style="-uslm-dtd:text">How the public housing agency met each of the statutory requirements in section 204(c)(3) of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (42 U.S.C. 1437f note).</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tV/s505/h/2/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">Impacts on public housing staffing and capacity, including the average public housing agency operating, administrative, and housing assistance payment expenditures per household per month.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s505/h/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">Legislative recommendations for flexibilities that could be expanded to all public housing agencies and how each flexibility enhances housing choice, affordability, and administrative capacity and efficiency for public housing agencies.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tV/s505/h/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Public availability.—</heading> <subparagraph identifier="/us/sComp/119/101/tV/s505/h/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary shall maintain all reports submitted pursuant to this section in a manner that is publicly available, accessible, and searchable on the website of the Department of Housing and Urban Development for not less than 5 years.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tV/s505/h/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Other information.—</heading> <clause identifier="/us/sComp/119/101/tV/s505/h/3/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary shall make the annual plan of the Moving to Work demonstration, the Section 8 administrative plan, and the admission and continued occupancy policy for each year publicly available in 1 location on the website of the Department of Housing and Urban Development for not less than 5 years.</content> </clause> <clause identifier="/us/sComp/119/101/tV/s505/h/3/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><heading style="-uslm-dtd:header">Database.—</heading><content style="-uslm-dtd:text">The Secretary may establish a searchable database on the website of the Department of Housing and Urban Development to track the types of flexibilities into which Moving to Work demonstration public housing agencies have opted or for which a waiver was approved by the Secretary, disaggregated by the year such flexibilities were adopted or approved.</content> </clause> </subparagraph> </paragraph> </subsection> </section> <num style="-uslm-dtd:enum" value="VI">TITLE VI—</num><heading style="-uslm-dtd:header">VETERANS AND HOUSING </heading> <section identifier="/us/sComp/119/101/tVI/s601" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="601">SEC. 601. </num><heading style="-uslm-dtd:header">MILITARY SERVICE QUESTION. </heading> <subsection identifier="/us/sComp/119/101/tVI/s601/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s4549">12 U.S.C. 4549</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Subpart A of part 2 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4541 et seq.) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="1329">“SEC. 1329. </num><heading style="-uslm-dtd:header">UNIFORM RESIDENTIAL LOAN APPLICATION </heading> <content class="block" style="-uslm-dtd:text">“Not later than 6 months after the date of enactment of this section, the Director shall, by regulation or order, require each enterprise to include a disclosure below the military service question, which shall be above the signature line, on the form known as the Uniform Residential Loan Application stating, ‘If yes, you may qualify for a VA Home Loan. Consult your lender regarding eligibility.’.”</content> </section></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tVI/s601/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">GAO Study.—</heading><content style="-uslm-dtd:text">Not later than 18 months after the date of enactment of this Act, the Comptroller General of the United States shall conduct a study and submit to Congress a report on whether or not less than 80 percent of lenders using the Uniform Residential Loan Application have included on that form the disclaimer required under section 1329 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as added by subsection (a).</content> </subsection> </section> <section identifier="/us/sComp/119/101/tVI/s602" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="602">SEC. 602. </num><heading style="-uslm-dtd:header">HOUSING UNHOUSED DISABLED VETERANS ACT. </heading> <subsection identifier="/us/sComp/119/101/tVI/s602/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Exclusion of Certain Disability Benefits.—</heading><chapeau style="-uslm-dtd:text">Section 3(b)(4)(B) of the United States Housing Act of 1937 (42 U.S.C. 1437a(b)(4)(B)) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tVI/s602/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by redesignating clauses (iv) and (v) as clauses (vi) and (vii), respectively; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVI/s602/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by inserting after clause (iii) the following:<quotedContent style="-uslm-dtd:quoted-block"> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">for the purpose of determining income eligibility with respect to the supported housing program under section 8(o)(19), any disability benefits received under chapter 11 or chapter 15 of title 38, United States Code, received by a veteran, except that this exclusion shall not apply to the income in the definition of adjusted income;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">“(v) </num><content style="-uslm-dtd:text">for the purpose of determining income eligibility with respect to any household receiving rental assistance under the supported housing program under section 8(o)(19) as it relates to eligibility for other types of housing assistance, any disability benefits received under chapter 11 or chapter 15 of title 38, United States Code, received by a veteran, but such amounts shall not be excluded from income when determining adjusted income;”</content> </clause></quotedContent>.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tVI/s602/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1437a">42 U.S.C. 1437a note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Treatment of Certain Disability Benefits.—</heading> <paragraph identifier="/us/sComp/119/101/tVI/s602/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">When determining the eligibility of a veteran to rent a residential dwelling unit constructed on Department property on or after the date of enactment of this Act, for which assistance is provided as part of a housing assistance program administered by the Secretary, the Secretary shall exclude from income any disability benefits received under chapter 11 or chapter 15 of title 38, United States Code by such person.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVI/s602/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this subsection:</chapeau> <subparagraph identifier="/us/sComp/119/101/tVI/s602/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Department property.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Department property</quotedText>” has the meaning given the term in section 901 of title 38, United States Code.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVI/s602/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </subparagraph> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tVI/s603" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="603">SEC. 603. </num><heading style="-uslm-dtd:header">VETERANS AFFAIRS LOAN INFORMED DISCLOSURE (VALID) ACT. </heading> <subsection identifier="/us/sComp/119/101/tVI/s603/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">FHA Informed Consumer Choice Disclosure.—</heading> <paragraph identifier="/us/sComp/119/101/tVI/s603/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Inclusion of information relating to va loans.—</heading><chapeau style="-uslm-dtd:text">Subparagraph (A) of section 203(f)(2) of the National Housing Act (12 U.S.C. 1709(f)(2)(A)) is amended—</chapeau> <subparagraph identifier="/us/sComp/119/101/tVI/s603/a/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">ratio in</quotedText>” and inserting<quotedContent class="inline" style="-uslm-dtd:quoted-block"><chapeau style="-uslm-dtd:text">“ratio—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">in”</content> </clause></quotedContent>; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVI/s603/a/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">in connection with a loan guaranteed or insured under chapter 37 of title 38, United States Code, assuming prevailing interest rates; and”</content> </subsection></quotedContent>.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tVI/s603/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s1709">12 U.S.C. 1709 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Rule of construction.—</heading><content style="-uslm-dtd:text">Nothing in the amendments made by paragraph (1) shall be construed to require an original lender to determine whether a prospective borrower is eligible for any loan included in the notice required under section 203(f) of the National Housing Act (12 U.S.C. 1709(f)).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tVI/s603/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Military Service Question.—</heading> <paragraph identifier="/us/sComp/119/101/tVI/s603/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Subpart A of part 2 of subtitle A of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4541 et seq.), as amended by section 601(a) of this Act, is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">position the question described in paragraph (1) above the signature line of the Uniform Residential Loan Application.”</content> </paragraph></quotedContent>.<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="1330">“SEC. 1330. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s4550">12 U.S.C. 4550</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">UNIFORM RESIDENTIAL LOAN APPLICATION </heading> <chapeau class="block" style="-uslm-dtd:text">“Not later than 6 months after the date of enactment of this section, the Director shall require each enterprise to—</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">include a military service question on the form known as the Uniform Residential Loan Application to include selection options of ‘Yes’, ‘No’, and “Prefer Not To Answer; and”</content> </paragraph> </section></quotedContent>.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVI/s603/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s4550">12 U.S.C. 4550 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Rulemaking.—</heading><content style="-uslm-dtd:text">Not later than 6 months after the date of enactment of this Act, the Director of the Federal Housing Finance Agency shall issue a rule to carry out the amendment made by this section.</content> </paragraph> </subsection> </section> <num style="-uslm-dtd:enum" value="VII">TITLE VII—</num><heading style="-uslm-dtd:header">OVERSIGHT AND ACCOUNTABILITY </heading> <section identifier="/us/sComp/119/101/tVII/s701" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="701">SEC. 701. </num><heading style="-uslm-dtd:header">REQUIRING ANNUAL TESTIMONY AND OVERSIGHT FROM HOUSING REGULATORS. </heading> <content class="block" style="-uslm-dtd:text">Section 7 of the Department of Housing and Urban Development Act (42 U.S.C. 3535) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="u">“(u) </num><heading style="-uslm-dtd:header">Annual Testimony.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall appear before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives at an annual hearing and present testimony regarding the operations of the Department during the preceding year, including—</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">the current programs and operations of the Department;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">the physical condition of all public housing and other housing assisted by the Department;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">the financial health of the mortgage insurance funds of the Federal Housing Agency;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">oversight by the Department of grantees and subgrantees for purposes of preventing waste, fraud, and abuse;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><content style="-uslm-dtd:text">the progress made by the Federal Government in ending the affordable housing and homelessness crises;</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">“(6) </num><content style="-uslm-dtd:text">the capacity of the Department to deliver on its statutory mission; and</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">“(7) </num><content style="-uslm-dtd:text">other ongoing activities of the Department, as appropriate.”</content> </paragraph> </subsection></quotedContent>.</content> </section> <section identifier="/us/sComp/119/101/tVII/s702" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="702">SEC. 702. </num><heading style="-uslm-dtd:header">FHA REPORTING REQUIREMENTS ON SAFETY AND SOUNDNESS. </heading> <content class="block" style="-uslm-dtd:text">Section 202(a) of the National Housing Act (12 U.S.C. 1708(a)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">“(8) </num><heading style="-uslm-dtd:header">Other required reporting.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">submit to Congress monthly reports on the capital ratio required under section 205(f)(2); and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">notify Congress as soon as practicable after the Fund falls below the capital ratio required under section 205(f)(2).”</content> </subparagraph> </paragraph></quotedContent>.</content> </section> <section identifier="/us/sComp/119/101/tVII/s703" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="703">SEC. 703. </num><heading style="-uslm-dtd:header">UNITED STATES INTERAGENCY COUNCIL ON HOMELESSNESS OVERSIGHT. </heading> <chapeau class="block" style="-uslm-dtd:text">Section 203(a) of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11313(a)) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tVII/s703/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">in paragraph (1)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tVII/s703/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Homeless Emergency Assistance and Rapid Transition to Housing Act of 2009</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">21st Century ROAD to Housing Act</quotedText>”; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s703/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">update such plan annually</quotedText>” and inserting<quotedContent class="inline" style="-uslm-dtd:quoted-block"><chapeau style="-uslm-dtd:text">“submit to the President and Congress a report every year thereafter that includes—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the status of completion of the plan; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">any modifications that were made to the plan and the reasons for those modifications;”</content> </subparagraph></quotedContent>;</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tVII/s703/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by redesignating paragraphs (10) through (13) as paragraphs (11) through (14), respectively;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVII/s703/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by redesignating the second paragraph (9) (relating to collecting and disseminating information) as paragraph (10);</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVII/s703/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">in paragraph (13), as so redesignated, by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVII/s703/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">in paragraph (14), as so redesignated, by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVII/s703/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="15">“(15) </num><content style="-uslm-dtd:text">testify annually before Congress, if requested.”</content> </paragraph></quotedContent>.</content> </paragraph> </section> <section identifier="/us/sComp/119/101/tVII/s704" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="704">SEC. 704. </num><heading style="-uslm-dtd:header">APPRAISAL MODERNIZATION ACT. </heading> <subsection identifier="/us/sComp/119/101/tVII/s704/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t15/s1639h">15 U.S.C. 1639h note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Reconsideration of Value.—</heading> <paragraph identifier="/us/sComp/119/101/tVII/s704/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Federally backed mortgage loan defined.—</heading><content style="-uslm-dtd:text">In this subsection, the term “<quotedText style="-uslm-dtd:quote">federally backed mortgage loan</quotedText>” has the meaning given the term in section 4022 of the CARES Act (15 U.S.C. 9056).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVII/s704/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Requirement.—</heading><content style="-uslm-dtd:text">The Secretary of Agriculture, the Secretary of Veterans Affairs, the Commissioner of the Federal Housing Administration, and the Director of the Federal Housing Finance Agency shall each implement and maintain requirements that creditors of a federally backed mortgage loan have a review and resolution procedure for a consumer-initiated reconsideration of value or subsequent appraisal in connection with a consumer credit transaction secured by a consumer’s principal dwelling.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tVII/s704/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Public Appraisal Database.—</heading> <paragraph identifier="/us/sComp/119/101/tVII/s704/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Covered agencies defined.—</heading><chapeau style="-uslm-dtd:text">In this subsection, the term “<quotedText style="-uslm-dtd:quote">covered agencies</quotedText>” means—</chapeau> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the Federal Housing Finance Agency, on behalf of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the Department of Housing and Urban Development, including the Federal Housing Administration;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">the Department of Agriculture; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">the Department of Veterans Affairs.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tVII/s704/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Feasibility report.—</heading><chapeau style="-uslm-dtd:text">Not later than 240 days after the date of enactment of this Act, the Comptroller General of the United States shall submit to Congress a public report assessing the feasibility of creating a publicly available appraisal database that consists of a searchable and downloadable appraisal-level public use file that consolidates appraisal data held or aggregated by covered agencies, including—</chapeau> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the costs and benefits associated with establishing and maintaining the public database;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the benefits and risks associated with the Federal Housing Finance Agency or the Bureau of Consumer Financial Protection being responsible for the public database and whether there is another Federal agency best suited for implementing and administering such database;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">any safety and soundness, antitrust, or consumer privacy-related risks associated with making certain appraisal data factors publicly available, including whether—</chapeau> <clause identifier="/us/sComp/119/101/tVII/s704/b/2/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">there are any existing legal requirements, including under the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2801 et seq.) and section 552 of title 5, United States Code (commonly known as the “Freedom of Information Act”), or additional actions Federal agencies could take to mitigate such risks, such as modifying or aggregating data or eliminating personally identifiable information; and</content> </clause> <clause identifier="/us/sComp/119/101/tVII/s704/b/2/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">there are any data factors that, if made public, may violate conduct, ethics, or other professional standards as they relate to appraisals and appraisal or valuation professionals;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/2/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">the feasibility of consolidating or matching appraisal data held by covered agencies with corresponding data that are required and made public under the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2801 et seq.);</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/2/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">whether the publication of any appraisal data factors may pose unfair business advantages within the valuation industry;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/2/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">the feasibility of including all valuation data held by covered agencies, including data produced by automated valuation models;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/2/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><chapeau style="-uslm-dtd:text">the feasibility and benefits of making the full appraisal dataset, including any modified fields, available to—</chapeau> <clause identifier="/us/sComp/119/101/tVII/s704/b/2/G/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">Federal agencies, including for purposes related to enforcement and supervision responsibilities;</content> </clause> <clause identifier="/us/sComp/119/101/tVII/s704/b/2/G/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">relevant State licensing, supervision, and enforcement agencies and State attorneys general;</content> </clause> <clause identifier="/us/sComp/119/101/tVII/s704/b/2/G/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">approved researchers, including academics and nonprofit organizations that, in connection with their mission, work to ensure the fairness and consistency of home valuations, including appraisals; and</content> </clause> <clause identifier="/us/sComp/119/101/tVII/s704/b/2/G/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">any other entities identified by the Comptroller General as having a compelling use for disaggregated data;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/2/H" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">(H) </num><content style="-uslm-dtd:text">what appraisal data are already available in the public domain; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/2/I" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">the feasibility of incorporating legacy data held by covered agencies during the period beginning on January 1, 2017, and ending on the date of enactment of this Act, and whether there are specific data points not easily consolidated or matched, as described in subparagraph (D), with more recent data.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tVII/s704/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Purpose.—</heading><content style="-uslm-dtd:text">The database described in paragraph (2) shall be used to provide the public, the Federal Government, and State governments with residential real estate appraisal data to help determine whether financial institutions, appraisal management companies, appraisers, valuation technologies, such as automated valuation models, and other valuation professionals are effectively serving the entire housing market.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVII/s704/b/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Consultation.—</heading><chapeau style="-uslm-dtd:text">As part of the information used in the report required under paragraph (2), the Comptroller General of the United States shall conduct interviews with—</chapeau> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/4/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">relevant Federal agencies;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/4/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">relevant State licensing, supervision, and enforcement agencies and State attorneys general;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/4/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">appraisers and other home valuation industry professionals;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/4/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">mortgage lending institutions;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/4/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">fair housing and fair lending experts; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVII/s704/b/4/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">any other relevant stakeholders as determined by the Comptroller General.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tVII/s704/b/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Hearing.—</heading><content style="-uslm-dtd:text">Upon the completion of the report under paragraph (2), the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives shall each hold a hearing on the findings of the report and the feasibility of establishing a public appraisal-level appraisal database.</content> </paragraph> </subsection> </section> <num style="-uslm-dtd:enum" value="VIII">TITLE VIII—</num><heading style="-uslm-dtd:header">ACCOUNTABILITY, COORDINATION, STUDIES, AND REPORTING </heading> <section identifier="/us/sComp/119/101/tVIII/s801" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="801">SEC. 801. </num><heading style="-uslm-dtd:header">HUD-USDA-VA INTERAGENCY COORDINATION ACT. </heading> <subsection identifier="/us/sComp/119/101/tVIII/s801/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s3535">42 U.S.C. 3535 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Memorandum of Understanding.—</heading><content style="-uslm-dtd:text">The Secretary of Housing and Urban Development, the Secretary of Agriculture, and the Secretary of Veterans Affairs shall establish a memorandum of understanding, or other appropriate interagency agreement, to share relevant housing-related research and market data that facilitate evidence-based policymaking.</content> </subsection> <subsection identifier="/us/sComp/119/101/tVIII/s801/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Interagency Report.—</heading> <paragraph identifier="/us/sComp/119/101/tVIII/s801/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Report.—</heading><chapeau style="-uslm-dtd:text">Not later than 180 days after the date of enactment of this Act, the Secretary of Housing and Urban Development, the Secretary of Agriculture, and the Secretary of Veterans Affairs shall jointly submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report containing—</chapeau> <subparagraph identifier="/us/sComp/119/101/tVIII/s801/b/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a description of opportunities for increased collaboration between the Secretary of Housing and Urban Development, the Secretary of Agriculture, and the Secretary of Veterans Affairs to reduce inefficiencies in housing programs;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s801/b/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">a list of Federal laws (including regulations) that adversely affect the availability and affordability of new construction of assisted housing and single-family and multifamily residential housing subject to mortgages insured under title II of the National Housing Act (12 U.S.C. 1707 et seq.), insured, guaranteed, or made by the Secretary of Agriculture under title V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.), or insured, guaranteed, or made by the Secretary of Veterans Affairs under chapter 37 of title 38, United States Code; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s801/b/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">recommendations for Congress regarding the Federal laws (including regulations) described in subparagraph (B).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s801/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Publication.—</heading><content style="-uslm-dtd:text">The report required under paragraph (1) shall, prior to submission under this subsection, be published in the Federal Register and open for comment for a period of 30 days.</content> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tVIII/s802" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="802">SEC. 802. </num><heading style="-uslm-dtd:header">STREAMLINING RURAL HOUSING ACT. </heading> <subsection identifier="/us/sComp/119/101/tVIII/s802/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">Not later than 180 days after the date of enactment of this Act, the Secretary of Housing and Urban Development and the Secretary of Agriculture shall enter into a memorandum of understanding to—</chapeau> <paragraph identifier="/us/sComp/119/101/tVIII/s802/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">evaluate categorical exclusions under the environmental review process for housing projects funded by amounts from the Department of Housing and Urban Development and the Department of Agriculture;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s802/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">develop a process to designate a lead agency and streamline adoption of Environmental Impact Statements and Environmental Assessments approved by the other Department to construct housing projects funded by both agencies;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s802/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">maintain compliance with environmental regulations under part 58 of title 24, Code of Federal Regulations, as in effect on January 1, 2025, except as required to amend, add, or remove categorical exclusions identified under section 58.35 of title 24, Code of Federal Regulations, through standard rulemaking procedures; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s802/a/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">evaluate the feasibility of a joint physical inspection process for housing projects funded by amounts from the Department of Housing and Urban Development and the Department of Agriculture.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tVIII/s802/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Report.—</heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Secretary of Housing and Urban Development and the Secretary of Agriculture shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report that includes recommendations for legislative, regulatory, or administrative actions—</chapeau> <paragraph identifier="/us/sComp/119/101/tVIII/s802/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">to improve the efficiency and effectiveness of housing projects funded by amounts from the Department of Housing and Urban Development and the Department of Agriculture; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s802/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">that do not materially, with respect to residents of housing projects described in paragraph (1)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tVIII/s802/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">reduce the safety of those residents;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s802/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">shift long-term costs onto those residents; or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s802/b/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">undermine the environmental standards of those residents.</content> </subparagraph> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tVIII/s803" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="803">SEC. 803. </num><heading style="-uslm-dtd:header">IMPROVING SELF-SUFFICIENCY OF FAMILIES IN HUD-SUBSIDIZED HOUSING. </heading> <subsection identifier="/us/sComp/119/101/tVIII/s803/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading> <paragraph identifier="/us/sComp/119/101/tVIII/s803/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Study.—</heading><content style="-uslm-dtd:text">Subject to subsection (b), the Secretary of Housing and Urban Development shall conduct a study on the implementation of work requirements implemented prior to the date of enactment of this Act by public housing agencies described in paragraph (4) participating in the Moving to Work demonstration authorized under section 204 of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (42 U.S.C. 1437f note).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s803/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Scope.—</heading><chapeau style="-uslm-dtd:text">The study required under paragraph (1) shall—</chapeau> <subparagraph identifier="/us/sComp/119/101/tVIII/s803/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">consider the short-, medium-, and long-term benefits and challenges of work requirements on public housing agencies described in paragraph (4) and on program participants who are subject to such requirements, including the effects work requirements have on homelessness rates, poverty rates, asset building, earnings growth, job attainment and retention, and public housing agencies’ administrative capacity; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s803/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">include quantitative and qualitative evidence, including interviews with program participants described in subparagraph (A) and their respective resident councils.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s803/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Secretary shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the initial findings of the study required under paragraph (1).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s803/a/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Public housing agencies described.—</heading><content style="-uslm-dtd:text">The public housing agencies described in this paragraph are public housing agencies that, as part of an application to participate in the demonstration authorized under section 204 of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 (42 U.S.C. 1437f note), submit a proposal identifying work requirements as an innovative proposal.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tVIII/s803/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Determination.—</heading><chapeau style="-uslm-dtd:text">The requirement under subsection (a) shall apply if the Secretary of Housing and Urban Development determines that—</chapeau> <paragraph identifier="/us/sComp/119/101/tVIII/s803/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">there are a sufficient number of public housing agencies described in subsection (a)(4) such that the Secretary of Housing and Urban Development can rigorously evaluate the impact of the implementation of work requirements described in that subsection; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s803/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the study would not negatively impact low-income families receiving assistance through a public housing agency described in subsection (a)(4).</content> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tVIII/s804" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="804">SEC. 804. </num><heading style="-uslm-dtd:header">GAO STUDIES. </heading> <subsection identifier="/us/sComp/119/101/tVIII/s804/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Workforce Housing Study.—</heading> <paragraph identifier="/us/sComp/119/101/tVIII/s804/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Middle-income household defined.—</heading><content style="-uslm-dtd:text">In this subsection, the term “<quotedText style="-uslm-dtd:quote">middle-income household</quotedText>” means a household with an income above 80 percent but that does not exceed 120 percent of the median family income of the area, as determined by the Secretary of Housing and Urban Development with adjustments for smaller and larger families.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s804/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Study.—</heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall conduct a study and submit to Congress a report that—</chapeau> <subparagraph identifier="/us/sComp/119/101/tVIII/s804/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">identifies obstacles middle-income households face when looking to secure affordable housing;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s804/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">identifies geographic areas where housing is the most unaffordable and unavailable for middle-income households;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s804/a/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">includes a list of Federal housing programs, including Federal tax credits, grants, and loan programs, that are not available to middle-income households due to their income status, including Federal housing programs designed to promote affordability;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s804/a/2/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">recommends income and other parameters to establish a clear and consistent Federal definition for the term “<quotedText style="-uslm-dtd:quote">workforce housing</quotedText>” for use when describing the segment of housing that could be made available to those middle-income households in Federal housing programs if funding commensurate with the additional eligibility were to be made available; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s804/a/2/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">analyzes how to modify or newly develop new Federal housing programs and incentives to include “workforce housing” if funding commensurate with the additional eligibility were to be made available.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tVIII/s804/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Housing for Elderly or Disabled.—</heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall carry out a study and submit to Congress a report that identifies options to remove barriers and improve housing for persons who are elderly or disabled, including any potential impacts of providing capital advances for—</chapeau> <paragraph identifier="/us/sComp/119/101/tVIII/s804/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the program for supportive housing for the elderly under section 202 of the Housing Act of 1959 (12 U.S.C. 1701q); and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s804/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the program for supportive housing for persons with disabilities under section 811 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 8013).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tVIII/s804/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Proximity of Housing to Superfund Sites.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall carry out a study and submit to Congress a report that identifies how many residential dwelling units, and how many dwelling units that are a part of public housing (as defined in section 3(b) of the United States Housing Act of 1937 (42 U.S.C. 1437a(b))), are located less than 1 mile from a site that is included on the National Priorities List established pursuant to section 105 of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. 9605).</content> </subsection> <subsection identifier="/us/sComp/119/101/tVIII/s804/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Residential Heirs Property.—</heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall carry out a study and submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report that—</chapeau> <paragraph identifier="/us/sComp/119/101/tVIII/s804/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">establishes a comprehensive definition of residential heirs property, or family land inherited without a will or legal documentation of ownership;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s804/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">examines the occurrence of and consequences to owners of residential heirs property, and provides an estimate regarding the number of current residential heirs properties;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s804/d/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">describes the objectives and requirements of the Uniform Partition of Heirs Property Act as approved by the National Conference of Commissioners on Uniform State Laws in 2010;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s804/d/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">details the various resources that may be available to the owners of residential heirs properties, including housing counseling, legal services, and financial assistance to resolve residential heirs property title issues from the Federal Government, nonprofit organizations, and institutions of higher education; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s804/d/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><chapeau style="-uslm-dtd:text">makes recommendations with respect to how to reduce the number of residential heirs properties, including—</chapeau> <subparagraph identifier="/us/sComp/119/101/tVIII/s804/d/5/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by incentivizing States and other jurisdictions which enact or adopt the Uniform Partition of Heirs Property Act or similar such reforms;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s804/d/5/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by awarding grants to States and other jurisdictions to assist residents of those States and jurisdictions to establish and document property ownership rights or settle a decedent’s estate;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s804/d/5/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">by awarding grants to entities that—</chapeau> <clause identifier="/us/sComp/119/101/tVIII/s804/d/5/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">provide housing counseling, legal assistance, and financial assistance to home-owners and their heirs relating to title clearing and home retention efforts of heirs’ property; and</content> </clause> <clause identifier="/us/sComp/119/101/tVIII/s804/d/5/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">target services to low- and moderate-income persons or provide services in neighborhoods that have a high concentration of low- and moderate-income persons; and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s804/d/5/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">by conducting other activities that assist individuals to clear title with respect to heirs’ property and with general estate planning.</content> </subparagraph> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tVIII/s805" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="805">SEC. 805. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s1437">42 U.S.C. 1437 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">IMPROVING PUBLIC HOUSING AGENCY ACCOUNTABILITY. </heading> <subsection identifier="/us/sComp/119/101/tVIII/s805/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tVIII/s805/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Covered public housing agency.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">covered public housing agency</quotedText>” means a public housing agency (as defined in section 3(b) of the United States Housing Act of 1937 (42 U.S.C. 1437a(b))) for which an administrative or judicial receiver or Federal monitor was appointed.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Inspector general.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Inspector General</quotedText>” means the Inspector General of the Department of Housing and Urban Development.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Housing and Urban Development.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tVIII/s805/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Required Notice.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall require each covered public housing agency to provide a notice each year to the Secretary that—</chapeau> <paragraph identifier="/us/sComp/119/101/tVIII/s805/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">indicates that if a receiver or Federal monitor remains appointed for the covered public housing agency as of October 1 of the calendar year to which the notice relates;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">provides the date on which the receiver or Federal monitor was first appointed and the projected date, if known, the appointment of the receiver or Federal monitor will be terminated; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">identifies the current receiver or Federal monitor appointed to oversee the public housing agency.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tVIII/s805/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Federal Monitor and Receiver Transparency.—</heading> <paragraph identifier="/us/sComp/119/101/tVIII/s805/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Notwithstanding any other provision of law, not later than October 1 of each year, each receiver or Federal monitor that is currently appointed to oversee a covered public housing agency shall provide to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a written assessment that—</chapeau> <subparagraph identifier="/us/sComp/119/101/tVIII/s805/c/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">describes the management and oversight activities of the receiver or Federal monitor for the covered public housing agency;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s805/c/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">identifies the significant factors that led to the appointment of the receiver or Federal monitor for the covered public housing agency;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s805/c/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">identifies the factors that remain unresolved at the covered public housing agency that have led to the continued oversight of the receiver or Federal monitor; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tVIII/s805/c/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">includes a timeline developed by the receiver or Federal monitor that projects when the factors identified under subparagraphs (B) and (C) will be resolved.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Additional information.—</heading><content style="-uslm-dtd:text">In addition to the written assessment required in paragraph (1), upon written request by the Committee on Banking, Housing, and Urban Affairs of the Senate or the Committee on Financial Services of the House of Representatives, each receiver or Federal monitor appointed to oversee a covered public housing agency shall promptly furnish additional or supplemental information requested by the Committee on Banking, Housing, and Urban Affairs of the Senate or the Committee on Financial Services of the House of Representatives with respect to the covered public housing agency that such receiver or Federal monitor is appointed to oversee, including presenting testimony upon request.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tVIII/s805/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Disclosure Required.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall, not later than 1 year after the date of enactment of this Act, require each covered public housing agency to publicly disclose, on the website of the covered public housing agency, with respect to each contract entered into by such covered public housing agency in the preceding year, the following information:</chapeau> <paragraph identifier="/us/sComp/119/101/tVIII/s805/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">All material information about the contract, including the goods and service provided.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">The identity of the vendor selected to receive the contract.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/d/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">The date of the solicitation of the contract.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/d/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">The relevant information pertaining to the bids and quotes solicited for the contract.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/d/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">The name of the official who solicited the contract.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tVIII/s805/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Inspector General Review.—</heading><chapeau style="-uslm-dtd:text">Not later than 180 days after receiving a written request from the Committee on Financial Services of the House of Representatives or the Committee on Banking, Housing, and Urban Affairs of the Senate, the Inspector General shall provide to the requesting committee an analysis of—</chapeau> <paragraph identifier="/us/sComp/119/101/tVIII/s805/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the status of any covered public housing agency’s compliance with any agreements entered into between the covered public housing agency and the Department of Housing and Urban Development, including specific areas of deficiency and progress toward compliance;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">a review of actions taken by the receiver or Federal monitor appointed to oversee a covered public housing agency and any private sector housing development partners pursuant to such agreement, including any gaps in oversight by the receiver or Federal monitor;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/e/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">an assessment of the physical conditions of housing provided by the covered public housing agency, including the status of the covered public housing agency’s compliance with relevant health and safety requirements;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/e/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">an examination of any allegations of waste, fraud, abuse or violations of Federal law committed by employees or contractors of the covered public housing agency;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/e/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">any additional pertinent information, as determined necessary and appropriate by the inspector general; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tVIII/s805/e/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">any recommendations of the inspector general that relate to how to improve the compliance of the covered public housing agency with any agreements entered into with the Department of Housing and Urban Development or enhance the oversight of the receiver or Federal monitor over such covered public housing agency.</content> </paragraph> </subsection> </section> <num style="-uslm-dtd:enum" value="IX">TITLE IX—</num><heading style="-uslm-dtd:header">STRENGTHENING COMMUNITY BANKS’ ROLE IN HOUSING </heading> <section identifier="/us/sComp/119/101/tIX/s901" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="901">SEC. 901. </num><heading style="-uslm-dtd:header">COMMUNITY BANK DEPOSIT ACCESS. </heading> <subsection identifier="/us/sComp/119/101/tIX/s901/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Section 29 of the Federal Deposit Insurance Act (12 U.S.C. 1831f) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="j">“(j) </num><heading style="-uslm-dtd:header">Limited Exception for Custodial Deposits.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Custodial deposits of an eligible institution shall not be considered to be funds obtained, directly or indirectly, by or through a deposit broker to the extent that the total amount of such custodial deposits does not exceed an amount equal to 20 percent of the total liabilities of the eligible institution.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this subsection:</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Custodial deposit.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">custodial deposit</quotedText>’ means a deposit that is not deposited at an insured depository institution in return for fees paid by the insured depository institution pursuant to an agreement with a third party and that would otherwise be considered to be obtained, directly or indirectly, by or through a deposit broker, if the deposit is deposited at 1 or more insured depository institutions, for the purpose of providing or maintaining deposit insurance for the benefit of a third party, by or through any of the following, each acting in a formal custodial or fiduciary capacity for the benefit of a third party:</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">An insured depository institution serving as agent, trustee, or custodian.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">A trust entity controlled by an insured depository institution serving as agent, trustee, or custodian.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">A State-chartered trust company serving as agent, trustee, or custodian.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">A plan administrator or investment advisor, acting in a formal custodial or fiduciary capacity for the benefit of a plan.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Eligible institution.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">eligible institution</quotedText>’ means an insured depository institution that accepts custodial deposits, if the insured depository institution has less than $10,000,000,000 in total assets as reported on the consolidated report of condition and income as reported quarterly to the appropriate Federal banking agency and—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i)</num><subclause class="inline" style="-uslm-dtd:subclause" styleType="OLC"><num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">when most recently examined under section 10(d) was assigned a composite rating of 1, 2, or 3 under the Uniform Financial Institutions Rating System (or an equivalent rating under a comparable rating system); and</content></subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">is well capitalized; or</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">has obtained a waiver pursuant to subsection (c).</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Plan.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">plan</quotedText>’ has the meaning given the term in section 3 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002).</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Plan administrator.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">plan administrator</quotedText>’ has the meaning given the term ‘<quotedText style="-uslm-dtd:quote">administrator</quotedText>’ in section 3 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002).</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><heading style="-uslm-dtd:header">Well capitalized.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">well capitalized</quotedText>’ has the meaning given the term in section 38(b).”</content> </subparagraph> </paragraph> </subsection></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s901/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Interest Rate Restriction.—</heading><content style="-uslm-dtd:text">Section 29 of the Federal Deposit Insurance Act (12 U.S.C. 1831f), as amended by subsection (a), is further amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="k">“(k) </num><heading style="-uslm-dtd:header">Restriction on Interest Rate Paid on Certain Custodial Deposits.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this subsection—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the terms ‘custodial deposit’, ‘eligible institution’, and ‘well capitalized’ have the meanings given those terms in subsection (j); and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">covered insured depository institution</quotedText>’ means an insured depository institution that while acting as an eligible institution under subsection (j), accepts custodial deposits while not well capitalized.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Prohibition.—</heading><content style="-uslm-dtd:text">A covered insured depository institution may not pay a rate of interest on custodial deposits that are accepted while not well capitalized that, at the time the funds or custodial deposits are accepted, significantly exceeds the limit set forth in paragraph (3).</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Limit on interest rates.—</heading><chapeau style="-uslm-dtd:text">The limit on the rate of interest referred to in paragraph (2) shall be not greater than—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the rate paid on deposits of similar maturity in the normal market area of the covered insured depository institution for deposits accepted in the normal market area of the covered insured depository institution; or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the national rate paid on deposits of comparable maturity, as established by the Corporation, for deposits accepted outside the normal market area of the covered insured depository institution.”</content> </subparagraph> </paragraph> </subsection></quotedContent>.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tIX/s902" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="902">SEC. 902. </num><heading style="-uslm-dtd:header">KEEPING DEPOSITS LOCAL. </heading> <subsection identifier="/us/sComp/119/101/tIX/s902/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Amount of Reciprocal Deposits That Are Not Considered to Be Funds Obtained by or Through a Deposit Broker.—</heading><content style="-uslm-dtd:text">Section 29(i) of the Federal Deposit Insurance Act (12 U.S.C. 1831f(i)) is amended by striking paragraph (1) and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The sum of the following amounts of reciprocal deposits of an agent institution shall not be considered to be funds obtained, directly or indirectly, by or through a deposit broker:</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">An amount equal to 50 percent of the portion of the total liabilities of the agent institution that is less than or equal to $1,000,000,000.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">An amount equal to 40 percent of the portion, if any, of the total liabilities of the agent institution that is greater than $1,000,000,000, but less than or equal to $10,000,000,000.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">An amount equal to 30 percent of the portion, if any, of the total liabilities of the agent institution that is greater than $10,000,000,000, but less than or equal to $96,333,333,333.”</content> </subparagraph> </paragraph></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s902/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Definition of Agent Institution.—</heading><content style="-uslm-dtd:text">Section 29(i)(2)(A)(i)(I) of the Federal Deposit Insurance Act (12 U.S.C. 1831f(i)(2)(A)(i)) is amended by striking “<quotedText style="-uslm-dtd:quote">was found to have a composite condition of outstanding or good</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">was assigned a CAMELS rating of 1, 2, or 3 under the Uniform Financial Institutions Rating System (or an equivalent rating under a comparable rating system)</quotedText>”.</content> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s902/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Reciprocal Deposits Study.—</heading> <paragraph identifier="/us/sComp/119/101/tIX/s902/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Federal Deposit Insurance Corporation, in consultation with the Board of Governors of the Federal Reserve System, shall carry out a study on reciprocal deposits.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s902/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Contents.—</heading><chapeau style="-uslm-dtd:text">The study required under paragraph (1) shall include—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s902/c/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">an analysis of how reciprocal deposits have performed since 2018, which shall include—</chapeau> <clause identifier="/us/sComp/119/101/tIX/s902/c/2/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the use of quantitative and qualitative data;</content> </clause> <clause identifier="/us/sComp/119/101/tIX/s902/c/2/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">a breakdown of the usage of reciprocal deposits by size of insured depository institution;</content> </clause> <clause identifier="/us/sComp/119/101/tIX/s902/c/2/A/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">the usage of reciprocal deposits during periods of stress; and</content> </clause> <clause identifier="/us/sComp/119/101/tIX/s902/c/2/A/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">an analysis, to the extent practicable, of end-user depositors, such as municipalities, businesses, and nonprofit organizations, that drive demand for reciprocal products;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s902/c/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">an analysis, to the extent practicable, of how reciprocal deposits compare to other deposit arrangements; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s902/c/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">an analysis of the benefits and potential risks of reciprocal deposits.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s902/c/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than 6 months after the date of enactment of this Act, the Federal Deposit Insurance Corporation shall issue a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate containing all findings and determinations made in carrying out the study required under paragraph (1).</content> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tIX/s903" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="903">SEC. 903. </num><heading style="-uslm-dtd:header">TAILORED REGULATORY UPDATES FOR SUPERVISORY TESTING. </heading> <chapeau class="block" style="-uslm-dtd:text">Section 10(d) of the Federal Deposit Insurance Act (12 U.S.C. 1820(d)) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tIX/s903/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (4)(A), by striking “<quotedText style="-uslm-dtd:quote">$3,000,000,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$6,000,000,000</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s903/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (10), by striking “<quotedText style="-uslm-dtd:quote">$3,000,000,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$6,000,000,000</quotedText>”.</content> </paragraph> </section> <section identifier="/us/sComp/119/101/tIX/s904" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="904">SEC. 904. </num><heading style="-uslm-dtd:header">CREDIT UNION BOARD MODERNIZATION. </heading> <chapeau class="block" style="-uslm-dtd:text">Section 113 of the Federal Credit Union Act (12 U.S.C. 1761b) is amended—</chapeau> <paragraph identifier="/us/sComp/119/101/tIX/s904/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">monthly</quotedText>” each place such term appears;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s904/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in the matter preceding paragraph (1), by striking “<quotedText style="-uslm-dtd:quote">The board of directors</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">The board of directors”</content> </subsection></quotedContent>;</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s904/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">in subsection (a) (as so designated), by striking “<quotedText style="-uslm-dtd:quote">shall meet at least once a month and</quotedText>”; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s904/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Meetings.—</heading><chapeau style="-uslm-dtd:text">The board of directors of a Federal credit union shall meet as follows:</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">With respect to a de novo Federal credit union, not less frequently than monthly during each of the first five years of the existence of such Federal credit union.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><chapeau style="-uslm-dtd:text">Not less than six times annually, with at least one meeting held during each fiscal quarter, with respect to a Federal credit union—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">with a composite rating of either 1 or 2 under the Uniform Financial Institutions Rating System (or an equivalent rating under a comparable rating system); and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">with a capability of management rating under such composite rating of either 1 or 2.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><chapeau style="-uslm-dtd:text">Not less frequently than once a month, with respect to a Federal credit union—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">with a composite rating of either 3, 4, or 5 under the Uniform Financial Institutions Rating System (or an equivalent rating under a comparable rating system); or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">with a capability of management rating under such composite rating of either 3, 4, or 5.”</content> </subparagraph> </paragraph> </subsection></quotedContent>.</content> </paragraph> </section> <section identifier="/us/sComp/119/101/tIX/s905" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="905">SEC. 905. </num><heading style="-uslm-dtd:header">SYSTEMIC RISK AUTHORITY TRANSPARENCY. </heading> <subsection identifier="/us/sComp/119/101/tIX/s905/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">GAO Review.—</heading><content style="-uslm-dtd:text">Section 13(c)(4)(G)(iv) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)(G)(iv)) is amended to read as follows:<quotedContent style="-uslm-dtd:quoted-block"> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">“(iv) </num><heading style="-uslm-dtd:header">GAO review.—</heading> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Comptroller General of the United States shall, not later than 60 days after a determination is made under clause (i), and again 180 days thereafter, review and report to the Congress on the determination under clause (i), including—</chapeau> <item style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="aa">“(aa) </num><content style="-uslm-dtd:text">the basis for the determination;</content> </item> <item style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="bb">“(bb) </num><content style="-uslm-dtd:text">the purpose for which any action was taken pursuant to such clause;</content> </item> <item style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="cc">“(cc) </num><content style="-uslm-dtd:text">the likely effect of the determination and such action on the incentives and conduct of insured depository institutions and uninsured depositors;</content> </item> <item style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="dd">“(dd) </num><content style="-uslm-dtd:text">any mismanagement by the executives and board of the insured depository institution that contributed to the failure of the insured depository institution;</content> </item> <item style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="ee">“(ee) </num><content style="-uslm-dtd:text">a review of the compensation practices of the insured depository institution;</content> </item> <item style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="ff">“(ff) </num><content style="-uslm-dtd:text">any supervisory or regulatory shortcomings with respect to the appropriate Federal banking agency of the insured depository institution;</content> </item> <item style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="gg">“(gg) </num><content style="-uslm-dtd:text">any actions taken by the Federal banking regulators, Financial Stability Oversight Council, Department of the Treasury, and other relevant financial regulators in relation to the failure of the insured depository institution; and</content> </item> <item style="-uslm-dtd:item" styleType="OLC"> <num style="-uslm-dtd:enum" value="hh">“(hh) </num><content style="-uslm-dtd:text">any additional relevant entities or activities that may have contributed to the failure of the insured depository institution, including with respect to auditing, accounting, credit rating agencies, investment bank underwriters, and emergency liquidity options such as loans from the Federal reserve banks or advances through the Federal Home Loan Bank system.</content> </item> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><heading style="-uslm-dtd:header">Rule of construction.—</heading><content style="-uslm-dtd:text">Nothing in this clause or a report issued pursuant to this clause may be construed to limit the authority of a Federal agency to enforce violations of Federal statutes, rules, or orders.”</content> </subclause> </clause></quotedContent>.</content> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s905/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Appropriate Federal Banking Agency Report.—</heading><content style="-uslm-dtd:text">Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block"> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="12">“(12) </num><heading style="-uslm-dtd:header">Appropriate federal banking agency report.—</heading> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The appropriate Federal banking agency of an insured depository institution about which a determination is made under paragraph (4)(G)(i) shall, not later than 90 days after the date of such determination, and again 210 days thereafter, submit a report to the Congress that discloses the following:</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><chapeau style="-uslm-dtd:text">Subject to such redactions as the appropriate Federal banking agency determines appropriate to protect personally identifiable information about customers and other financial institutions (as such term is defined under section 11(e)(9)(D))—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">all reports of examination and inspection that relate to the failed insured depository institution in the previous 3-year period;</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">all formal communications of a material supervisory determination conveyed to the failed insured depository institution in the previous 3-year period; and</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">any additional exam reports and correspondence that the appropriate Federal banking agency determines may be relevant to the failure of the insured depository institution.</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">An examination of any mismanagement by the executives and board of the insured depository institution that contributed to the failure of the insured depository institution.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">Any supervisory or regulatory shortcomings by such appropriate Federal banking agency with respect to the insured depository institution.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">Any dynamics that the appropriate Federal banking agency determines may have contributed to the failure of the insured depository institution.</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">“(v) </num><content style="-uslm-dtd:text">Any supervisory, regulatory, or legislative recommendations such appropriate Federal banking agency may have to improve the safety and soundness of similarly situated insured depository institutions, the banking system, and financial stability.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Protection of sensitive information.—</heading> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Effect on privilege.—</heading><chapeau style="-uslm-dtd:text">The provision of any information by a Federal banking agency under this paragraph may not be construed as—</chapeau> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">waiving, destroying, or otherwise affecting any privilege applicable to the information; or</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">waiving any exemption applicable to the information under section 552 of title 5, United States Code (commonly known as the ‘Freedom of Information Act’).</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Transparency.—</heading> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">“(I) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">A Federal banking agency shall publish materials contained in a report required under subparagraph (A) to the fullest extent possible to promote transparency.</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">“(II) </num><heading style="-uslm-dtd:header">Consultation on omitting materials.—</heading><content style="-uslm-dtd:text">If a Federal banking agency determines particular materials described under subclause (I) should not be published, the Federal banking agency shall consult with the chair and ranking member of the Committee on Financial Services of the House of Representatives and the chair and ranking member of the Committee on Banking, Housing, and Urban Affairs of the Senate.</content> </subclause> <subclause style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="III">“(III) </num><heading style="-uslm-dtd:header">Omitting materials.—</heading><content style="-uslm-dtd:text">If, after the consultation required under subclause (II), the Federal banking agency determines there is a substantial public interest in not publishing such materials, the Federal banking agency shall provide those materials to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate with a written explanation describing the reasons for not publishing those materials.</content> </subclause> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><heading style="-uslm-dtd:header">Privilege.—</heading><content style="-uslm-dtd:text">For purposes of this subparagraph, the term ‘<quotedText style="-uslm-dtd:quote">privilege</quotedText>’ includes any work-product, attorney-client, or other privilege recognized under Federal or State law.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Report extension.—</heading><chapeau style="-uslm-dtd:text">A Federal banking agency may extend a deadline described under subparagraph (A) for an additional 60 days, if the Federal banking agency—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">faces ongoing circumstances that require the Federal banking agency to prioritize activities to promote stability of the United States banking system; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">notifies the Congress of such extension and the reasons for such extension.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Consolidated reports.—</heading><content style="-uslm-dtd:text">A Federal banking agency may consolidate multiple reports required under this paragraph so long as the individual reports being consolidated all meet the timing requirements under this paragraph.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><heading style="-uslm-dtd:header">Rule of construction.—</heading><content style="-uslm-dtd:text">Nothing in this paragraph or reports or materials provided pursuant to this paragraph may be construed to limit the authority of a Federal agency to enforce violations of Federal statutes, rules, or orders.”</content> </subparagraph> </paragraph></quotedContent>.</content> </subsection> </section> <section identifier="/us/sComp/119/101/tIX/s906" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="906">SEC. 906. </num><heading style="-uslm-dtd:header">ADVANCING THE MENTOR-PROTÉGÉ PROGRAM FOR SMALL FINANCIAL INSTITUTIONS. </heading> <content class="block" style="-uslm-dtd:text">Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 1463 note) is amended by adding at the end the following new subsection:<quotedContent style="-uslm-dtd:quoted-block"> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">“(d) </num><heading style="-uslm-dtd:header">Financial Agent Mentor-protégé Program.—</heading> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall establish a program to be known as the ‘Financial Agent Mentor-Protégé Program’ (in this subsection referred to as the ‘Program’) under which a financial agent designated by the Secretary or a large financial institution may serve as a mentor, under guidance or regulations prescribed by the Secretary, to a small financial institution to allow such small financial institution—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">to be prepared to perform as a financial agent; or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">to improve capacity to provide services to the customers of the small financial institution.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Outreach.—</heading><content style="-uslm-dtd:text">The Secretary shall hold outreach events to promote the participation of financial agents, large financial institutions, and small financial institutions in the Program at least once a year.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Exclusion.—</heading><content style="-uslm-dtd:text">The Secretary shall issue guidance or regulations to establish a process under which a financial agent, large financial institution, or small financial institution may be excluded from participation in the Program.</content> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Report.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall report to Congress information pertaining to the Program, including—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the number of financial agents, large financial institutions, and small financial institutions participating in such Program; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the number of outreach events described in paragraph (2) held during the year covered by such report.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this subsection:</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Financial agent.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">financial agent</quotedText>’ means any national banking association designated by the Secretary to be employed as a financial agent of the Government.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Large financial institution.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">large financial institution</quotedText>’ means any entity regulated by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the National Credit Union Administration that has total consolidated assets greater than or equal to $50,000,000,000.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Rural depository institution.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">rural depository institution</quotedText>’ means a depository institution (as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813))—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">with total consolidated assets of less than $10,000,000,000; and</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">located in a rural area, as defined under section 1026.35(b)(2)(iv)(A) of title 12, Code of Federal Regulations.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">Secretary</quotedText>’ means the Secretary of the Treasury.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">“(E) </num><heading style="-uslm-dtd:header">Small financial institution.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">small financial institution</quotedText>’ means—</chapeau> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">any entity regulated by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the National Credit Union Administration that has total consolidated assets less than or equal to $2,000,000,000;</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">a minority depository institution; or</content> </clause> <clause style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">a rural depository institution.”</content> </clause> </subparagraph> </paragraph> </subsection></quotedContent>.</content> </section> <section identifier="/us/sComp/119/101/tIX/s907" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="907">SEC. 907. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s1811">12 U.S.C. 1811 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">AMERICAN ACCESS TO BANKING. </heading> <subsection identifier="/us/sComp/119/101/tIX/s907/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Streamlining Application Process and Review of Capital Raising by De Novo Regulated Institutions.—</heading> <paragraph identifier="/us/sComp/119/101/tIX/s907/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Each of the Federal financial institutions regulatory agencies shall—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s907/a/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">for the purpose of streamlining the process of applying to become a de novo regulated institution, conduct a review of any application forms related to such process;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/a/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">to the extent practicable, gather information needed from applicants seeking to become a de novo regulated institution from other Federal Government agencies or public sources to minimize information requests of such applicants; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/a/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">in consultation with the Securities and Exchange Commission, review how de novo regulated institutions raise capital while maintaining investor protections, including the impact of—</chapeau> <clause identifier="/us/sComp/119/101/tIX/s907/a/1/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">general capital raising restrictions; and</content> </clause> <clause identifier="/us/sComp/119/101/tIX/s907/a/1/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">capital raising restrictions related to individuals who are not accredited investors.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s907/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Report.—</heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, and annually for 5 years thereafter, each of the Federal financial institutions regulatory agencies shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate and publish on a public website of such agency a report that contains—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s907/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a description of the actions taken by such agency pursuant to paragraph (1); and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">as appropriate, any administrative or legislative recommendations with respect to the purpose described in paragraph (1)(C).</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s907/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Improving Communication With De Novo Regulated Institutions.—</heading> <paragraph identifier="/us/sComp/119/101/tIX/s907/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Each of the Federal financial institutions regulatory agencies shall, at the request of an applicant to become a de novo regulated institution, designate an employee of the agency as a caseworker, who may perform such duty in addition to the other duties of the employee.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s907/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Caseworker duties.—</heading><chapeau style="-uslm-dtd:text">Each caseworker described in paragraph (1) shall, to the maximum extent practicable—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s907/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">meet with the lead organizers applying to become a de novo regulated institution to provide a tutorial with respect to the application process; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">be the primary point of contact of the respective Federal financial institutions regulatory agency for such organizers during the application process.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s907/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">New caseworker.—</heading><content style="-uslm-dtd:text">Each agency described in paragraph (1) may designate a new caseworker, as appropriate, to support continuity based on staffing and responsibilities assigned to the current caseworker.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s907/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">De Novo Mentor-protégé Partnerships.—</heading> <paragraph identifier="/us/sComp/119/101/tIX/s907/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">At the request of an institution that seeks to become a de novo regulated institution, each of the Federal financial institutions regulatory agencies shall, to the maximum extent practicable, provide a list to such institution of similar types of institutions that—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s907/c/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">were recently approved to become a de novo regulated institution; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/c/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">are interested in volunteering to serve as a mentor to provide advice about the de novo application process.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s907/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Mentorship information.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, each of the Federal financial institutions regulatory agencies shall provide public information and directions on how an institution may request a mentor or serve as a mentor as described in paragraph (1).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s907/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">State and Stakeholder Engagement Plan.—</heading> <paragraph identifier="/us/sComp/119/101/tIX/s907/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Each of the Federal financial institutions regulatory agencies shall develop a plan to—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s907/d/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">regularly consult with State regulators to promote cooperation between State and Federal banking and credit union agencies in the creation of de novo regulated institutions, including responding to any State regulator that requests assistance on how a State-chartered financial institution can request Federal insurance;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/d/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">regularly consult with stakeholders, including applicants to become de novo regulated institutions and recently approved regulated institutions, to inform any reforms that may support the creation of de novo regulated institutions, including rural institutions, community development financial institutions, and minority depository institutions; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/d/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">provide guidance, training material, and regular workshops to assist any interested parties to understand such agencies’ processes.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s907/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Submission to congress.—</heading> <subparagraph identifier="/us/sComp/119/101/tIX/s907/d/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not later than 2 years after the date of enactment of this Act, and every 5 years thereafter, each of the Federal financial institutions regulatory agencies shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate the respective plan of such agency described in paragraph (1).</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/d/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Public comment.—</heading><chapeau style="-uslm-dtd:text">With respect to developing the plan described in paragraph (1), each of the Federal financial institutions regulatory agencies shall—</chapeau> <clause identifier="/us/sComp/119/101/tIX/s907/d/2/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">provide an opportunity for public comments; and</content> </clause> <clause identifier="/us/sComp/119/101/tIX/s907/d/2/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">take such public comments into consideration.</content> </clause> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s907/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Definitions.—</heading> <paragraph identifier="/us/sComp/119/101/tIX/s907/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s907/e/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Federal banking agency.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Federal banking agency</quotedText>” has the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/e/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Federal financial institutions regulatory agencies.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Federal financial institutions regulatory agencies</quotedText>” has the meaning given the term in section 1003 of the Federal Financial Institutions Examination Council Act of 1978 (12 U.S.C. 3302).</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/e/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Regulated institution.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">regulated institution</quotedText>” means—</chapeau> <clause identifier="/us/sComp/119/101/tIX/s907/e/1/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">with respect to a Federal banking agency, a depository institution (as such term is defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)) for which the Federal banking agency is the appropriate Federal banking agency (as such term is defined in such section 3); and</content> </clause> <clause identifier="/us/sComp/119/101/tIX/s907/e/1/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">with respect to the National Credit Union Administration, an insured credit union (as such term is defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752)).</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/e/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><heading style="-uslm-dtd:header">State.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">State</quotedText>” means each of the several States, the District of Columbia, and each territory of the United States.</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s907/e/1/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><heading style="-uslm-dtd:header">State regulator.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">State regulator</quotedText>” means—</chapeau> <clause identifier="/us/sComp/119/101/tIX/s907/e/1/E/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">with respect to a Federal banking agency, a State banking regulator; and</content> </clause> <clause identifier="/us/sComp/119/101/tIX/s907/e/1/E/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">with respect to the National Credit Union Administration, the State regulatory agency having jurisdiction over a State credit union (as such term is defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752)).</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s907/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Rule of construction.—</heading><content style="-uslm-dtd:text">For purposes of this section, the process of applying to become a de novo regulated institution shall include the process of applying for Federal deposit insurance, Federal share insurance, or membership in the Federal Reserve System.</content> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tIX/s908" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="908">SEC. 908. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s1811">12 U.S.C. 1811 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">PROMOTING NEW BANK FORMATION. </heading> <subsection identifier="/us/sComp/119/101/tIX/s908/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Pilot Phase-in of Capital Standards.—</heading><chapeau style="-uslm-dtd:text">The Federal banking agencies may issue rules that provide for a 2-year phase-in period for a qualifying community bank or its depository institution holding company to meet any Federal capital requirements that would otherwise be applicable to the qualifying community bank or its depository institution holding company, beginning on—</chapeau> <paragraph identifier="/us/sComp/119/101/tIX/s908/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the date on which the qualifying community bank became an insured depository institution; or</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s908/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in the case of its depository institution holding company, the date on which the qualifying community bank of the depository institution holding company became an insured depository institution.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s908/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Pilot Changes to Business Plans.—</heading> <paragraph identifier="/us/sComp/119/101/tIX/s908/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">During the 2-year period beginning on the date on which a qualifying community bank became an insured depository institution, the qualifying community bank or its depository institution holding company may request to deviate from a business plan that has been approved by the appropriate Federal banking agency by submitting a request to such agency pursuant to this section.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s908/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Review of changes.—</heading><chapeau style="-uslm-dtd:text">The appropriate Federal banking agency shall, not later than the end of the 180-day period beginning on the receipt of a request under paragraph (1)—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s908/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">approve, conditionally approve, or deny such request; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s908/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">notify the applicant of such decision and, if the agency denies the request—</chapeau> <clause identifier="/us/sComp/119/101/tIX/s908/b/2/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">provide the applicant with the reason for such denial; and</content> </clause> <clause identifier="/us/sComp/119/101/tIX/s908/b/2/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">suggest changes to the request that, if adopted, would allow the agency to approve such request.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s908/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Result of failure to act.—</heading><content style="-uslm-dtd:text">If the appropriate Federal banking agency fails to approve or deny a request within the 90-day period required under paragraph (2), such request shall be deemed to be approved.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s908/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Pilot Program Study.—</heading> <paragraph identifier="/us/sComp/119/101/tIX/s908/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Study.—</heading><content style="-uslm-dtd:text">The Federal banking agencies shall, jointly, carry out a study on the impact of the pilot program carried out pursuant to subsections (a) and (b) of this section on the formation of de novo insured depository institutions, including such institutions which are rural depository institutions, community development financial institutions, and minority depository institutions, taking into account safety and soundness, promoting competition, and expanding access to affordable financial products and services to underserved communities.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s908/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Report to congress.—</heading><content style="-uslm-dtd:text">Not later than December 31, 2031, the Federal banking agencies shall, jointly, issue a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate containing all findings and determinations made in carrying out the study required under paragraph (1).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s908/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Study on De Novo Insured Depository Institutions.—</heading> <paragraph identifier="/us/sComp/119/101/tIX/s908/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Study.—</heading><chapeau style="-uslm-dtd:text">The Federal banking agencies shall, jointly, carry out a study on—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s908/d/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the principal causes for the low number of de novo insured depository institutions in the 10-year period ending on the date of enactment of this subsection;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s908/d/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">ways to promote more de novo insured depository institutions in areas currently underserved by insured depository institutions; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s908/d/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">ways to ensure de novo depository institutions, including institutions which are rural depository institutions, community development financial institutions, and minority depository institutions, can utilize the Community Bank Leverage Ratio.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s908/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Report to congress.—</heading><content style="-uslm-dtd:text">Not later than the end of the 1-year period beginning on the date of enactment of this Act, the Federal banking agencies shall, jointly, issue a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate containing all findings and determinations made in carrying out the study required under paragraph (1).</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s908/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tIX/s908/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Appropriate federal banking agency.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">appropriate Federal banking agency</quotedText>” has the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s908/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Depository institution.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">depository institution</quotedText>” has the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s908/e/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Depository institution holding company.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">depository institution holding company</quotedText>” has the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s908/e/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Federal banking agency.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Federal banking agency</quotedText>” has the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s908/e/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Insured depository institution.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">insured depository institution</quotedText>” has the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s908/e/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Qualifying community bank.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">qualifying community bank</quotedText>” means a depository institution that—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s908/e/6/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">including its holding company and all of its subsidiaries and affiliates, has total combined assets of less than $10,000,000,000; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s908/e/6/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">became an insured depository institution between January 1, 2026, and December 31, 2028.</content> </subparagraph> </paragraph> </subsection> </section> <section identifier="/us/sComp/119/101/tIX/s909" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="909">SEC. 909. </num><heading style="-uslm-dtd:header">RURAL DEPOSITORIES REVITALIZATION STUDY. </heading> <subsection identifier="/us/sComp/119/101/tIX/s909/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Study.—</heading><chapeau style="-uslm-dtd:text">The Federal banking agencies shall, jointly, carry out a study—</chapeau> <paragraph identifier="/us/sComp/119/101/tIX/s909/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">to identify methods to improve the growth, capital adequacy, and profitability of depository institutions in the United States that primarily serve rural areas; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s909/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">to identify Federal statutes (other than appropriations Acts) or regulations of the Federal banking agencies that limit—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s909/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the methods identified under paragraph (1); or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s909/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the establishment of de novo depository institutions in rural areas.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s909/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Federal banking agencies shall, jointly, issue a report to Congress containing all findings and determinations made in carrying out the study required under subsection (a).</content> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s909/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Study on Rural Credit Unions.—</heading><chapeau style="-uslm-dtd:text">The National Credit Union Administration shall carry out a study—</chapeau> <paragraph identifier="/us/sComp/119/101/tIX/s909/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">to identify methods to improve the growth, capital adequacy, and profitability of credit unions in the United States that primarily serve rural areas; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s909/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">to identify Federal statutes (other than appropriations Acts) or regulations of the National Credit Union Administration that limit—</chapeau> <subparagraph identifier="/us/sComp/119/101/tIX/s909/c/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the methods identified under paragraph (1); or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tIX/s909/c/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the establishment of de novo credit unions in rural areas.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s909/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Report on Rural Credit Unions.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the National Credit Union Administration shall issue a report to Congress containing all findings and determinations made in carrying out the study required under subsection (c).</content> </subsection> <subsection identifier="/us/sComp/119/101/tIX/s909/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tIX/s909/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Depository institution.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">depository institution</quotedText>” has the meaning given that term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s909/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Federal banking agencies.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Federal banking agencies</quotedText>” means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tIX/s909/e/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Rural.—</heading><content style="-uslm-dtd:text">With respect to an area, the term “<quotedText style="-uslm-dtd:quote">rural</quotedText>” has the meaning given that term in section 1026.35(b)(2)(iv)(A) of title 12, Code of Federal Regulations.</content> </paragraph> </subsection> </section> <num style="-uslm-dtd:enum" value="X">TITLE X—</num><heading style="-uslm-dtd:header">HOME-OWNERSHIP FOR MAIN STREET AMERICA </heading> <section identifier="/us/sComp/119/101/tX/s1001" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="1001">SEC. 1001. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s19521">42 U.S.C. 19521</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">HOMES ARE FOR PEOPLE, NOT CORPORATIONS. </heading> <subsection identifier="/us/sComp/119/101/tX/s1001/a" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph identifier="/us/sComp/119/101/tX/s1001/a/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Consumer reporting agency.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">consumer reporting agency</quotedText>” has the meaning given the term in section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a)).</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/a/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Excepted purchase.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">excepted purchase</quotedText>” means any purchase of a single-family home that is—</chapeau> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">newly constructed, renovated, or a rental conversion for sale by a large institutional investor and not as a residence rented pending sale;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">pursuant to a build-to-rent program where the large institutional investor purchases, constructs, or constructs and retains a newly constructed single-family homes to be managed as a rental property, whether as part of a community made up exclusively of renter-occupied single-family homes or as part of a community made up of single-family homes that are both owner- and renter-occupied;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">pursuant to a renovate-to-rent program that—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/C/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">substantially rehabilitates single-family homes that do not meet structural or core system elements of local building codes; and</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/C/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">makes improvements in an aggregate dollar amount of not less than 15 percent of the purchase price of the single-family home;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/2/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><chapeau style="-uslm-dtd:text">pursuant to a homeownership program that—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/D/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">requires rental payments and any other fees that are not greater than those collected by the large institutional investor on other similarly situated single-family homes not covered by the eligible homeownership program;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/D/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">is subject to a contract between the large institutional investor and renter that shall be considered a consumer credit transaction secured by a dwelling or real property;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/D/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">provides for positive reporting of rental payments to consumer reporting agencies for any renter, who shall be informed of and opts into such reporting; and</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/D/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">requires contribution of meaningful financial support from the large institutional investor, including price concessions, for the purchase of the single-family home by the renter;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/2/E" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="E">(E) </num><chapeau style="-uslm-dtd:text">pursuant to a program to boost homeownership that—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/E/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">provides for positive reporting of rental payments to consumer reporting agencies for any renter, who shall be informed of and opts into such reporting;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/E/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">provides for the right of first refusal and a 30-day “first look” period; and</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/E/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">may entail the meaningful financial support from the large institutional investor, including price concessions, for the purchase of a single-family home by the renter (whether it is the home the renter occupies or another home);</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/2/F" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">in connection with the satisfaction of debts previously contracted in good faith and where the large institutional investor has the right to repossess the single-family home under such contract;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/2/G" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="G">(G) </num><chapeau style="-uslm-dtd:text">undertaken by a mortgage servicer, lender, or other entity that has a legal right to a single-family home, for the purpose of loss mitigation or compliance with servicing or investor obligations, and not as a long-term investment strategy, and is solely as a result of—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/G/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">a foreclosure;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/G/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">a deed-in-lieu of foreclosure;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/G/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">enforcement of a mortgage, deed of trust, or other security interest; or</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/2/G/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">operation of law following borrower default;</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/2/H" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="H">(H) </num><content style="-uslm-dtd:text">purchased from another large institutional investor that either owned the single-family home on the date of enactment of this Act or purchased the single-family home in compliance with this section;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/2/I" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">purchased from an investor not covered under this section, so long as the purchase occurred not more than 2 years after the effective date under subsection (f);</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/2/J" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="J">(J) </num><content style="-uslm-dtd:text">newly constructed, renovated, or a rental conversion that is intended and operated for occupancy as part of a community for households with 1 or more members aged 55 years or older, and satisfies visitability standards established by the Secretary of Housing and Urban Development; or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/2/K" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="K">(K) </num><content style="-uslm-dtd:text">purchased through a single purchase or combination or series of purchases described in subparagraphs (A) through (J).</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/a/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Large institutional investor.—</heading> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">large institutional investor</quotedText>”—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/a/3/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">means an investment fund, corporation, general or limited partnership, limited liability company, joint venture, association, or other for-profit entity that is a legal entity structured in a manner that is not aforementioned that—</chapeau> <subclause identifier="/us/sComp/119/101/tX/s1001/a/3/A/i/I" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">is engaged, in whole or in part, in the business of investing in, owning, renting, managing, or holding single-family homes; and</content> </subclause> <subclause identifier="/us/sComp/119/101/tX/s1001/a/3/A/i/II" style="-uslm-dtd:subclause" styleType="OLC"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">alone or in concert with 1 or more other entities, beginning after the date of enactment of this Act, directly or indirectly has investment control of not less than 350 single-family homes in the aggregate, not including any single-family home purchased in an excepted purchase made after the date of enactment of this Act; and</content> </subclause> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/3/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">does not include any local, State, Tribal, or Federal government entity or instrumentality thereof.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Rule of construction.—</heading><chapeau style="-uslm-dtd:text">For purposes of this paragraph, an entity has direct or indirect investment control over a single-family home if the entity—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/a/3/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">owns, or has primary authority or fiduciary responsibility to make material investment or management decisions relating to, the single-family home;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/3/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">is, or directly or indirectly controls, the general partner or managing member of the entity that owns the single-family home;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/3/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">is or controls the investment manager, management company, or investment advisor of the entity that owns the single-family home;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/3/B/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">owns or controls more than 25 percent of any class of equity interests of the entity that owns the single-family home, unless such entity is a passive investor; or</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/a/3/B/v" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">otherwise controls the entity that owns the single-family home.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/a/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Purchase.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">purchase</quotedText>” includes any purchase, transfer, or other acquisition of a single family home, including through mergers, acquisitions, construction, foreclosures, or bulk purchases, whether or not for cash consideration.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/a/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Single-family home.—</heading><chapeau style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">single-family home</quotedText>”—</chapeau> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/5/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">means a structure that contains 2 or fewer dwelling units that are each intended for residential occupancy by a single household; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/a/5/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">does not include a manufactured home, as defined in section 603 of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5402).</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tX/s1001/b" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Prohibition on Purchases by Large Institutional Investors.—</heading> <paragraph identifier="/us/sComp/119/101/tX/s1001/b/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">No large institutional investor may purchase, or enter into a contract to directly or indirectly purchase, any single-family home.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/b/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Exceptions.—</heading><chapeau style="-uslm-dtd:text">The prohibition under paragraph (1) shall not apply to—</chapeau> <subparagraph identifier="/us/sComp/119/101/tX/s1001/b/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">any excepted purchase; or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/b/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">any purchase of a single-family home in connection with a restructuring or other reorganization of ownership of single-family homes that were owned or purchased on or before the date of enactment of this Act.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/b/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Rule of construction.—</heading><chapeau style="-uslm-dtd:text">Nothing in this section may be construed to—</chapeau> <subparagraph identifier="/us/sComp/119/101/tX/s1001/b/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">require any large institutional investor to divest or otherwise sell any single-family home purchased before the date of enactment of this Act; or</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/b/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">prevent the filing of a petition, or otherwise affect any bankruptcy proceeding, under title 11, United States Code.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/b/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Implementation.—</heading> <subparagraph identifier="/us/sComp/119/101/tX/s1001/b/4/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">In consultation with the Secretary of Housing and Urban Development, the Director of Federal Housing Finance Agency, and the Chair of the Securities and Exchange Commission, the Secretary of the Treasury may issue regulations in accordance with the notice and comment rulemaking procedures under section 553 of title 5, United States Code, to carry out the purposes of this section, including regulations to—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/b/4/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">minimize market disruptions upon identifying a risk of material negative impact on the housing market, including an impact on the ability of market participants to dispose of single-family homes in an orderly fashion; and</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/b/4/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">mitigate, to the extent possible, negative impacts on consumers and communities.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/b/4/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Rule of construction.—</heading><chapeau style="-uslm-dtd:text">For the avoidance of doubt, no regulation issued under subparagraph (A) may amend the definitions of the terms defined under subsection (a), including to—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/b/4/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">alter the scope of excepted purchases in a manner that would undermine the goal of expanding the number of single-family homes available to individual households for purchase;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/b/4/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">alter any type of excepted purchase in a manner that would undermine the goal of expanding the number of single-family homes available to individual households for purchase;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/b/4/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">add any category of large institutional investor as an eligible class if not determined by this section; or</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/b/4/B/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">alter the quantitative threshold in the definition of “large institutional investor”.</content> </clause> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tX/s1001/c" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Renter Outreach Resource Established.—</heading> <paragraph identifier="/us/sComp/119/101/tX/s1001/c/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary of Housing and Urban Development (in this subsection referred to as the “Secretary”) shall, not later than 180 days after the date of enactment of this Act, establish a renter outreach resource that consists of a toll-free telephone number and a public website designed to assist renters of residential properties owned by a large institutional investor in—</chapeau> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">notifying Federal agencies about disputes relating to the rental of such properties, including disputes about potential violations of Federal law;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">sharing information about such disputes with other Federal agencies, including other Federal agencies that manage similar disputes;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/1/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">monitoring such disputes; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/1/D" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">resolving such disputes, to the extent practicable.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/c/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Response to outreach.—</heading> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall establish reasonable procedures to—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/c/2/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">promptly respond, in writing where appropriate, to a renter who provides information to the Secretary about a dispute using the renter outreach resource established under paragraph (1); and</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/c/2/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">document such responses.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Contents.—</heading><chapeau style="-uslm-dtd:text">Responses provided under subparagraph (A) shall include, where appropriate, information about—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/c/2/B/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">steps that have been taken by the Secretary or another Federal agency in response to the information about the dispute provided by the renter, including determining the appropriate large institutional investor involved as described in paragraph (3);</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/c/2/B/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">any responses received by the Secretary or another Federal agency from the large institutional investor related to such dispute; and</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/c/2/B/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">any outcome of the dispute, to the extent practicable.</content> </clause> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/c/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Investigation of potential violations of federal law.—</heading> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall promptly process and investigate any information relating to a dispute received through the renter outreach resource established under paragraph (1) about a potential violation of Federal law that is received from a renter of a residential property owned by a large institutional investor through the renter outreach resource established under paragraph (1), including—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/c/3/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">requesting information from a large institutional investor;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/c/3/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">determining the appropriate large institutional investor involved in the dispute; and</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/c/3/A/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">sharing information about such potential violation of Federal law with any relevant Federal agencies, as the Secretary may determine appropriate.</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Responses to requests for information.—</heading><content style="-uslm-dtd:text">Upon request for information made pursuant to subparagraph (A), the Secretary shall provide a large institutional investor the opportunity to respond, including regarding whether such large institutional investor currently owns the property described in such request for information.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/c/4" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Information for appropriate state authority.—</heading><content style="-uslm-dtd:text">When the Secretary receives information about a potential violation of State law or about a dispute received through the renter outreach resource, from a renter of a residential property owned by a large institutional investor through the renter outreach resource established under paragraph (1), the Secretary shall, at a minimum, provide the renter with contact information for the appropriate, State-specific, State authority authorized to process and investigate such information.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/c/5" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Notice about renter outreach resource.—</heading><chapeau style="-uslm-dtd:text">Each large institutional investor shall—</chapeau> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/5/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">provide to each renter of a residential property owned by such investor at the time such renter first occupies such home and annually thereafter—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/c/5/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">written notice about the renter outreach resource established under paragraph (1); and</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/c/5/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the name, phone number, and email address of the person or entity responsible for receiving and addressing renter disputes for the large institutional investor, and update the name, phone number, and email address within 30 days if such information changes prior to the subsequent time at which such notice is required to be provided; and</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/5/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">prominently feature information about the renter outreach resource established under paragraph (1) on a public website of such investor that is accessible by such renter.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/c/6" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Annual report to the congress.—</heading> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/6/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall, not later than March 31 of each year, submit to the Congress a public report which analyzes and aggregates the information received or obtained pursuant to this subsection during the prior year that includes—</chapeau> <clause identifier="/us/sComp/119/101/tX/s1001/c/6/A/i" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">information about the types and the number of disputes received about potential violations of Federal law;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/c/6/A/ii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">information about the types and the number of disputes received about potential violations of State law;</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/c/6/A/iii" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">where practicable, information about the resolution of such disputes; and</content> </clause> <clause identifier="/us/sComp/119/101/tX/s1001/c/6/A/iv" style="-uslm-dtd:clause" styleType="OLC"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">information provided to the Secretary of Housing and Urban Development under paragraph (8).</content> </clause> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/6/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Anonymization of data.—</heading><content style="-uslm-dtd:text">Any data included in a report that is submitted under this paragraph shall be aggregated or anonymized so as to protect any individual dispute or personally identifiable information received through the renter outreach resource.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/c/7" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">Protection of personal information.—</heading><content style="-uslm-dtd:text">In complying with the requirements of this subsection, the Secretary shall take such measures as the Secretary determines are necessary to provide for the protection of personally identifiable information received through the renter outreach resource in a manner that conforms with existing standards for protection of the confidentiality of personally identifiable information.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/c/8" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="8">(8) </num><heading style="-uslm-dtd:header">Annual notification.—</heading><chapeau style="-uslm-dtd:text">Not later than 180 days after the date of the enactment of this Act, and not later than December 31st of each year thereafter, each person or entity that satisfies the definition of a large institutional investor, as such term is defined in subsection (a), shall—</chapeau> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/8/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">notify the Secretary each year whether such owner is a large institutional investor as defined in subsection (a); and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/c/8/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in such notification, identify how many single-family homes such large institutional investor has direct or indirect investment control of as of the date of the submission of such notice, and the city and State where each such single-family home is located, unless such large institutional investor owns 10 or fewer single-family homes in such city.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tX/s1001/d" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Enforcement.—</heading> <paragraph identifier="/us/sComp/119/101/tX/s1001/d/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Civil penalties.—</heading><content style="-uslm-dtd:text">The Secretary of the Treasury, or the Attorney General at the request of the Secretary of the Treasury, may bring an action against a large institutional investor that violates subsection (b) for a civil penalty in an amount that is not more than $1,000,000 per violation, or 3 times the purchase price of the property involved, whichever is greater.</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/d/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Transfer to hud for homeownership expansion activities.—</heading><content style="-uslm-dtd:text">For fiscal year 2027 and each fiscal year thereafter, to the extent and in the amounts provided in advance in appropriations Acts, civil penalties assessed under this section shall be transferred to and available to the Secretary of Housing and Urban Development to provide additional funding for the HOME Investment Partnerships program under subtitle A of title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12741 et seq.), to be allocated in accordance with the formula under that program, for new construction, acquisition, and rehabilitation of single-family homes and to provide assistance grants to first-time homebuyers, which may be for downpayments, closing costs, and interest rate buydowns.</content> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tX/s1001/e" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Studies on Large Institutional Investors.—</heading> <paragraph identifier="/us/sComp/119/101/tX/s1001/e/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Gao report.—</heading><chapeau style="-uslm-dtd:text">Not later than 2 years after the date on which the prohibition under subsection (b)(1) takes effect, and again not later than 10 years after that date, the Comptroller General of the United States shall submit to the Committee on Banking, Housing and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on—</chapeau> <subparagraph identifier="/us/sComp/119/101/tX/s1001/e/1/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the impact of the ownership by large institutional investors of single-family homes on housing availability and affordability for renters and homebuyers; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/e/1/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the effectiveness of this section in reducing demand by large institutional investors for single-family homes and expanding homeownership for renters and homebuyers.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/e/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Hud report.—</heading><chapeau style="-uslm-dtd:text">Not later than 2 years after the date on which the prohibition under subsection (b)(1) takes effect, and again not later than 10 years after that date, the Secretary of the Housing and Urban Development, in consultation with the Secretary of the Treasury, the Administrator of the Rural Housing Service, the Executive Director of the Loan Guaranty Service of the Department of Veterans Affairs, the Chair of Securities and Exchange Commission, and the Director of the Federal Housing Finance Agency, shall submit to the Committee on Banking, Housing and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on—</chapeau> <subparagraph identifier="/us/sComp/119/101/tX/s1001/e/2/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">whether there should be adjustments to the definition of the term “<quotedText style="-uslm-dtd:quote">large institutional investor</quotedText>”;</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/e/2/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the financial impact of this section on large institutional investors, renters, and homebuyers; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/e/2/C" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">any legislative recommendations regarding ways to improve the authorities provided under this section to increase the supply and affordability of single-family homes for purchase by individual homebuyers.</content> </subparagraph> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/e/3" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Sense of congress.—</heading><chapeau style="-uslm-dtd:text">It is the sense of Congress that—</chapeau> <subparagraph identifier="/us/sComp/119/101/tX/s1001/e/3/A" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">this section is intended to expand the number of single-family homes available to individuals for purchase and is aimed at preserving and expanding the supply of single-family homes available to individuals; and</content> </subparagraph> <subparagraph identifier="/us/sComp/119/101/tX/s1001/e/3/B" style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">any further study on the effectiveness of this section and any legislative recommendations therefrom should consider this sense of Congress.</content> </subparagraph> </paragraph> </subsection> <subsection identifier="/us/sComp/119/101/tX/s1001/f" style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><chapeau style="-uslm-dtd:text">The requirements and prohibitions under subsections (b) and (d) of this section—</chapeau> <paragraph identifier="/us/sComp/119/101/tX/s1001/f/1" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">shall take effect on the date that is 180 days after the date of enactment of this Act; and</content> </paragraph> <paragraph identifier="/us/sComp/119/101/tX/s1001/f/2" style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">are repealed on the date that is 15 years after the effective date under paragraph (1).</content> </paragraph> </subsection> </section> <num style="-uslm-dtd:enum" value="XI">TITLE XI—</num><heading style="-uslm-dtd:header">CENTRAL BANK DIGITAL CURRENCY </heading> <section identifier="/us/sComp/119/101/tXI/s1101" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="1101">SEC. 1101. </num><heading style="-uslm-dtd:header">CENTRAL BANK DIGITAL CURRENCY. </heading> <content class="block" style="-uslm-dtd:text">The Federal Reserve Act (12 U.S.C. 221 et seq.) is amended by inserting after section 16 (12 U.S.C. 411 et seq.) the following:<quotedContent style="-uslm-dtd:quoted-block"> <section style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="16A">“SEC. 16A. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t12/s423">12 U.S.C. 423</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">CENTRAL BANK DIGITAL CURRENCY </heading> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Central bank digital currency.—</heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">central bank digital currency</quotedText>’ means a digital asset that—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">is denominated in United States dollars;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">is a United States currency;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">is a direct liability of the Federal Reserve System; and</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">is widely available to the general public.</content> </subparagraph> </paragraph> <paragraph style="-uslm-dtd:paragraph" styleType="OLC"> <num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Digital asset.—</heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">digital asset</quotedText>’ has the meaning given the term in section 2 of the GENIUS Act (12 U.S.C. 5901).</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Prohibition.—</heading><content style="-uslm-dtd:text">Except as provided in subsection (c), the Board of Governors of the Federal Reserve System or a Federal reserve bank may not issue or create a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency directly or indirectly through a financial institution or other intermediary.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Exception.—</heading><content style="-uslm-dtd:text">Subsection (b) shall not prohibit any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">“(d) </num><heading style="-uslm-dtd:header">Sunset.—</heading><content style="-uslm-dtd:text">This provisions of this section shall cease to be effective on December 31, 2030.</content> </subsection> <subsection style="-uslm-dtd:subsection" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">“(e) </num><heading style="-uslm-dtd:header">Rule of Construction.—</heading><content style="-uslm-dtd:text">Nothing in this section shall be construed to allow the Board of Governors of the Federal Reserve System to issue a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency directly or indirectly absent authorization by an Act of Congress.”</content> </subsection> </section></quotedContent>.</content> </section> <num style="-uslm-dtd:enum" value="XII">TITLE XII—</num><heading style="-uslm-dtd:header">MISCELLANEOUS </heading> <section identifier="/us/sComp/119/101/tXII/s1201" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="1201">SEC. 1201. </num><editorialNote role="uscRef" style="-uslm-dtd:usc-reference"><b>[</b><ref href="/us/usc/t42/s19531">42 U.S.C. 19531</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">SEVERABILITY. </heading> <content class="block" style="-uslm-dtd:text">If any provision of this Act, or the application thereof to any person or circumstance, is held invalid, the remainder of the Act, and the application of such provisions to other persons or circumstances, shall not be affected thereby.</content> </section> <section identifier="/us/sComp/119/101/tXII/s1202" style="-uslm-dtd:section" styleType="OLC"> <num style="-uslm-dtd:enum" value="1202">SEC. 1202. </num><heading style="-uslm-dtd:header">NO ADDITIONAL FUNDS AUTHORIZED. </heading> <content class="block" style="-uslm-dtd:text">No additional funds are authorized to be appropriated to carry out the requirements of this Act or any amendment made by this Act.</content> </section>