[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5640 Considered and Passed House (CPH)]

  2d Session
                                H. R. 5640

 To expand homeownership in the United States, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 5, 2000

Mr. Leach (for himself and Mr. LaFalce) introduced the following bill; 
 which was referred to the Committee on Banking and Financial Services

                            December 5, 2000

  Committee on Banking and Financial Services discharged; considered 
                under suspension of the rules and passed

_______________________________________________________________________

                                 A BILL


 
 To expand homeownership in the United States, 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 AND TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``American 
Homeownership and Economic Opportunity Act of 2000''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title and table of contents.
         TITLE I--REMOVAL OF BARRIERS TO HOUSING AFFORDABILITY

Sec. 101. Short title.
Sec. 102. Grants for regulatory barrier removal strategies.
Sec. 103. Regulatory barriers clearinghouse.
              TITLE II--HOMEOWNERSHIP FOR WORKING FAMILIES

Sec. 201. Home equity conversion mortgages.
Sec. 202. Assistance for self-help housing providers.
               TITLE III--SECTION 8 HOMEOWNERSHIP OPTION

Sec. 301. Downpayment assistance.
Sec. 302. Pilot program for homeownership assistance for disabled 
                            families.
Sec. 303. Funding for pilot programs.
   TITLE IV--PRIVATE MORTGAGE INSURANCE CANCELLATION AND TERMINATION

Sec. 401. Short title.
Sec. 402. Changes in amortization schedule.
Sec. 403. Deletion of ambiguous references to residential mortgages.
Sec. 404. Cancellation rights after cancellation date.
Sec. 405. Clarification of cancellation and termination issues and 
                            lender paid mortgage insurance disclosure 
                            requirements.
Sec. 406. Definitions.
                 TITLE V--NATIVE AMERICAN HOMEOWNERSHIP

                  Subtitle A--Native American Housing

Sec. 501. Lands title report commission.
Sec. 502. Loan guarantees.
Sec. 503. Native American housing assistance.
                  Subtitle B--Native Hawaiian Housing

Sec. 511. Short title.
Sec. 512. Findings.
Sec. 513. Housing assistance.
Sec. 514. Loan guarantees.
               TITLE VI--MANUFACTURED HOUSING IMPROVEMENT

Sec. 601. Short title; references.
Sec. 602. Findings and purposes.
Sec. 603. Definitions.
Sec. 604. Federal manufactured home construction and safety standards.
Sec. 605. Abolishment of National Manufactured Home Advisory Council; 
                            manufactured home installation.
Sec. 606. Public information.
Sec. 607. Research, testing, development, and training.
Sec. 608. Prohibited acts.
Sec. 609. Fees.
Sec. 610. Dispute resolution.
Sec. 611. Elimination of annual reporting requirement.
Sec. 612. Effective date.
Sec. 613. Savings provisions.
                 TITLE VII--RURAL HOUSING HOMEOWNERSHIP

Sec. 701. Guarantees for refinancing of rural housing loans.
Sec. 702. Promissory note requirement under housing repair loan 
                            program.
Sec. 703. Limited partnership eligibility for farm labor housing loans.
Sec. 704. Project accounting records and practices.
Sec. 705. Definition of rural area.
Sec. 706. Operating assistance for migrant farmworkers projects.
Sec. 707. Multifamily rental housing loan guarantee program.
Sec. 708. Enforcement provisions.
Sec. 709. Amendments to title 18 of United States Code.
         TITLE VIII--HOUSING FOR ELDERLY AND DISABLED FAMILIES

Sec. 801. Short title.
Sec. 802. Regulations.
Sec. 803. Effective date.
  Subtitle A--Refinancing for Section 202 Supportive Housing for the 
                                Elderly

Sec. 811. Prepayment and refinancing.
Subtitle B--Authorization of Appropriations for Supportive Housing for 
               the Elderly and Persons With Disabilities

Sec. 821. Supportive housing for elderly persons.
Sec. 822. Supportive housing for persons with disabilities.
Sec. 823. Service coordinators and congregate services for elderly and 
                            disabled housing.
Subtitle C--Expanding Housing Opportunities for the Elderly and Persons 
                           With Disabilities

                    Part 1--Housing for the Elderly

Sec. 831. Eligibility of for-profit limited partnerships.
Sec. 832. Mixed funding sources.
Sec. 833. Authority to acquire structures.
Sec. 834. Use of project reserves.
Sec. 835. Commercial activities.
             Part 2--Housing for Persons With Disabilities

Sec. 841. Eligibility of for-profit limited partnerships.
Sec. 842. Mixed funding sources.
Sec. 843. Tenant-based assistance.
Sec. 844. Use of project reserves.
Sec. 845. Commercial activities.
                        Part 3--Other Provisions

Sec. 851. Service coordinators.
          Subtitle D--Preservation of Affordable Housing Stock

Sec. 861. Section 236 assistance.
               TITLE IX--OTHER RELATED HOUSING PROVISIONS

Sec. 901. Extension of loan term for manufactured home lots.
Sec. 902. Use of section 8 vouchers for opt-outs.
Sec. 903. Maximum payment standard for enhanced vouchers.
Sec. 904. Use of section 8 assistance by ``grand-families'' to rent 
                            dwelling units in assisted projects.
               TITLE X--FEDERAL RESERVE BOARD PROVISIONS

Sec. 1001. Federal Reserve Board buildings.
Sec. 1002. Positions of Board of Governors of the Federal Reserve 
                            System on the Executive schedule.
Sec. 1003. Amendments to the Federal Reserve Act.
              TITLE XI--BANKING AND HOUSING AGENCY REPORTS

Sec. 1101. Short title.
Sec. 1102. Preservation of certain reporting requirements.
Sec. 1103. Coordination of reporting requirements.
Sec. 1104. Elimination of certain reporting requirements.
                 TITLE XII--FINANCIAL REGULATORY RELIEF

Sec. 1200. Short title.
    Subtitle A--Improving Monetary Policy and Financial Institution 
                          Management Practices

Sec. 1201. Repeal of savings association liquidity provision.
Sec. 1202. Noncontrolling investments by savings association holding 
                            companies.
Sec. 1203. Repeal of deposit broker notification and recordkeeping 
                            requirement.
Sec. 1204. Expedited procedures for certain reorganizations.
Sec. 1205. National bank directors.
Sec. 1206. Amendment to National Bank Consolidation and Merger Act.
Sec. 1207. Loans on or purchases by institutions of their own stock; 
                            affiliations.
Sec. 1208. Purchased mortgage servicing rights.
          Subtitle B--Streamlining Activities of Institutions

Sec. 1211. Call report simplification.
                Subtitle C--Streamlining Agency Actions

Sec. 1221. Elimination of duplicative disclosure of fair market value 
                            of assets and liabilities.
Sec. 1222. Payment of interest in receiverships with surplus funds.
Sec. 1223. Repeal of reporting requirement on differences in accounting 
                            standards.
Sec. 1224. Extension of time.
                   Subtitle D--Technical Corrections

Sec. 1231. Technical correction relating to deposit insurance funds.
Sec. 1232. Rules for continuation of deposit insurance for member banks 
                            converting charters.
Sec. 1233. Amendments to the Revised Statutes of the United States.
Sec. 1234. Conforming change to the International Banking Act of 1978.

         TITLE I--REMOVAL OF BARRIERS TO HOUSING AFFORDABILITY

SEC. 101. SHORT TITLE.

    This title may be cited as the ``Housing Affordability Barrier 
Removal Act of 2000''.

SEC. 102. GRANTS FOR REGULATORY BARRIER REMOVAL STRATEGIES.

    (a) Authorization of Appropriations.--Subsection (a) of section 
1204 of the Housing and Community Development Act of 1992 (42 U.S.C. 
12705c(a)) is amended to read as follows:
    ``(a) Funding.--There is authorized to be appropriated for grants 
under subsections (b) and (c) such sums as may be necessary for each of 
fiscal years 2001, 2002, 2003, 2004, and 2005.''.
    (b) Consolidation of State and Local Grants.--Subsection (b) of 
section 1204 of the Housing and Community Development Act of 1992 (42 
U.S.C. 12705c(b)) is amended--
            (1) in the subsection heading, by striking ``State Grants'' 
        and inserting ``Grant Authority'';
            (2) in the matter preceding paragraph (1), by inserting 
        after ``States'' the following: ``and units of general local 
        government (including consortia of such governments)'';
            (3) in paragraph (3), by striking ``a State program to 
        reduce State and local'' and inserting ``State, local, or 
        regional programs to reduce'';
            (4) in paragraph (4), by inserting ``or local'' after 
        ``State''; and
            (5) in paragraph (5), by striking ``State''.
    (c) Repeal of Local Grants Provision.--Section 1204 of the Housing 
and Community Development Act of 1992 (42 U.S.C. 12705c) is amended by 
striking subsection (c).
    (d) Application and Selection.--The last sentence of section 
1204(e) of the Housing and Community Development Act of 1992 (42 U.S.C. 
12705c(e)) is amended--
            (1) by striking ``and for the selection of units of general 
        local government to receive grants under subsection (f)(2)''; 
        and
            (2) by inserting before the period at the end the 
        following: ``and such criteria shall require that grant amounts 
        be used in a manner consistent with the strategy contained in 
        the comprehensive housing affordability strategy for the 
        jurisdiction pursuant to section 105(b)(4) of the Cranston-
        Gonzalez National Affordable Housing Act''.
    (e) Selection of Grantees.--Subsection (f) of section 1204 of the 
Housing and Community Development Act of 1992 (42 U.S.C. 12705c(f)) is 
amended to read as follows:
    ``(f) Selection of Grantees.--To the extent amounts are made 
available to carry out this section, the Secretary shall provide grants 
on a competitive basis to eligible grantees based on the proposed uses 
of such amounts, as provided in applications under subsection (e).''.
    (f) Technical Amendments.--Section 107(a)(1) of the Housing and 
Community Development Act of 1974 (42 U.S.C. 5307(a)(1)) is amended--
            (1) in subparagraph (G), by inserting ``and'' after the 
        semicolon at the end;
            (2) by striking subparagraph (H); and
            (3) by redesignating subparagraph (I) as subparagraph (H).

SEC. 103. REGULATORY BARRIERS CLEARINGHOUSE.

    Section 1205 of the Housing and Community Development Act of 1992 
(42 U.S.C. 12705d) is amended--
            (1) in subsection (a)--
                    (A) in the matter preceding paragraph (1), by 
                striking ``receive, collect, process, and assemble'' 
                and inserting ``serve as a national repository to 
                receive, collect, process, assemble, and disseminate'';
                    (B) in paragraph (1)--
                            (i) by striking ``, including'' and 
                        inserting ``(including''; and
                            (ii) by inserting before the semicolon at 
                        the end the following: ``), and the prevalence 
                        and effects on affordable housing of such laws, 
                        regulations, and policies'';
                    (C) in paragraph (2), by inserting before the 
                semicolon the following: ``, including particularly 
                innovative or successful activities, strategies, and 
                plans''; and
                    (D) in paragraph (3), by inserting before the 
                period at the end the following: ``, including 
                particularly innovative or successful strategies, 
                activities, and plans'';
            (2) in subsection (b)--
                    (A) in paragraph (1), by striking ``and'' at the 
                end;
                    (B) in paragraph (2), by striking the period at the 
                end and inserting ``; and''; and
                    (C) by adding at the end the following new 
                paragraph:
            ``(3) by making available through a World Wide Web site of 
        the Department, by electronic mail, or otherwise, provide to 
        each housing agency of a unit of general local government that 
        serves an area having a population greater than 100,000, an 
        index of all State and local strategies and plans submitted 
        under subsection (a) to the clearinghouse, which--
                    ``(A) shall describe the types of barriers to 
                affordable housing that the strategy or plan was 
                designed to ameliorate or remove; and
                    ``(B) shall, not later than 30 days after 
                submission to the clearinghouse of any new strategy or 
                plan, be updated to include the new strategy or plan 
                submitted.''; and
            (3) by adding at the end the following new subsections:
    ``(c) Organization.--The clearinghouse under this section shall be 
established within the Office of Policy Development of the Department 
of Housing and Urban Development and shall be under the direction of 
the Assistant Secretary for Policy Development and Research.
    ``(d) Timing.--The clearinghouse under this section (as amended by 
section 103 of the Housing Affordability Barrier Removal Act of 2000) 
shall be established and commence carrying out the functions of the 
clearinghouse under this section not later than 1 year after the date 
of the enactment of such Act. The Secretary of Housing and Urban 
Development may comply with the requirements under this section by 
reestablishing the clearinghouse that was originally established to 
comply with this section and updating and improving such clearinghouse 
to the extent necessary to comply with the requirements of this section 
as in effect pursuant to the enactment of such Act.''.

              TITLE II--HOMEOWNERSHIP FOR WORKING FAMILIES

SEC. 201. HOME EQUITY CONVERSION MORTGAGES.

    (a) Insurance for Mortgages to Refinance Existing HECMs.--
            (1) In General.--Section 255 of the National Housing Act 
        (12 U.S.C. 1715z-20) is amended--
                    (A) by redesignating subsection (k) as subsection 
                (m); and
                    (B) by inserting after subsection (j) the following 
                new subsection:
    ``(k) Insurance Authority for Refinancings.--
            ``(1) In general.--The Secretary may, upon application by a 
        mortgagee, insure under this subsection any mortgage given to 
        refinance an existing home equity conversion mortgage insured 
        under this section.
            ``(2) Anti-churning disclosure.--The Secretary shall, by 
        regulation, require that the mortgagee of a mortgage insured 
        under this subsection, provide to the mortgagor, within an 
        appropriate time period and in a manner established in such 
        regulations, a good faith estimate of: (A) the total cost of 
        the refinancing; and (B) the increase in the mortgagor's 
        principal limit as measured by the estimated initial principal 
        limit on the mortgage to be insured under this subsection less 
        the current principal limit on the home equity conversion 
        mortgage that is being refinanced and insured under this 
        subsection.
            ``(3) Waiver of counseling requirement.--The mortgagor 
        under a mortgage insured under this subsection may waive the 
        applicability, with respect to such mortgage, of the 
        requirements under subsection (d)(2)(B) (relating to third 
        party counseling), but only if--
                    ``(A) the mortgagor has received the disclosure 
                required under paragraph (2);
                    ``(B) the increase in the principal limit described 
                in paragraph (2) exceeds the amount of the total cost 
                of refinancing (as described in such paragraph) by an 
                amount to be determined by the Secretary; and
                    ``(C) the time between the closing of the original 
                home equity conversion mortgage that is refinanced 
                through the mortgage insured under this subsection and 
                the application for a refinancing mortgage insured 
                under this subsection does not exceed 5 years.
            ``(4) Credit for premiums paid.--Notwithstanding section 
        203(c)(2)(A), the Secretary may reduce the amount of the single 
        premium payment otherwise collected under such section at the 
        time of the insurance of a mortgage refinanced and insured 
        under this subsection. The amount of the single premium for 
        mortgages refinanced under this subsection shall be determined 
        by the Secretary based on the actuarial study required under 
        paragraph (5).
            ``(5) Actuarial study.--Not later than 180 days after the 
        date of the enactment of the American Homeownership and 
        Economic Opportunity Act of 2000, the Secretary shall conduct 
        an actuarial analysis to determine the adequacy of the 
        insurance premiums collected under the program under this 
        subsection with respect to--
                    ``(A) a reduction in the single premium payment 
                collected at the time of the insurance of a mortgage 
                refinanced and insured under this subsection;
                    ``(B) the establishment of a single national limit 
                on the benefits of insurance under subsection (g) 
                (relating to limitation on insurance authority); and
                    ``(C) the combined effect of reduced insurance 
                premiums and a single national limitation on insurance 
                authority.
            ``(6) Fees.--The Secretary may establish a limit on the 
        origination fee that may be charged to a mortgagor under a 
        mortgage insured under this subsection, except that such 
        limitation shall provide that the origination fee may be fully 
        financed with the mortgage and shall include any fees paid to 
        correspondent mortgagees approved by the Secretary.''.
            (2) Regulations.--The Secretary shall issue any final 
        regulations necessary to implement the amendments made by 
        paragraph (1) of this subsection, which shall take effect not 
        later than the expiration of the 180-day period beginning on 
        the date of the enactment of this Act. The regulations shall be 
        issued after notice and opportunity for public comment in 
        accordance with the procedure under section 553 of title 5, 
        United States Code, applicable to substantive rules 
        (notwithstanding subsections (a)(2), (b)(B), and (d)(3) of such 
        section).
    (b) Housing Cooperatives.--Section 255(b) of the National Housing 
Act (12 U.S.C. 1715z-20(b)) is amended--
            (1) in paragraph (2), by striking ```mortgage',''; and
            (2) by adding at the end the following new paragraphs:
            ``(4) Mortgage.--The term `mortgage' means a first mortgage 
        or first lien on real estate, in fee simple, on all stock 
        allocated to a dwelling in a residential cooperative housing 
        corporation, or on a leasehold--
                    ``(A) under a lease for not less than 99 years that 
                is renewable; or
                    ``(B) under a lease having a period of not less 
                than 10 years to run beyond the maturity date of the 
                mortgage.
            ``(5) First mortgage.--The term `first mortgage' means such 
        classes of first liens as are commonly given to secure advances 
        on, or the unpaid purchase price of, real estate or all stock 
        allocated to a dwelling unit in a residential cooperative 
        housing corporation, under the laws of the State in which the 
        real estate or dwelling unit is located, together with the 
        credit instruments, if any, secured thereby.''.
    (c) Waiver of Up-Front Premiums for Mortgages Used to Fund Long-
Term Care Insurance.--
            (1) In general.--Section 255 of the National Housing Act 
        (12 U.S.C. 1715z-20) is amended by inserting after subsection 
        (k) (as added by subsection (a) of this section) the following 
        new subsection:
    ``(l) Waiver of Up-Front Premiums for Mortgages to Fund Long-Term 
Care Insurance.--
            ``(1) In general.--In the case of any mortgage insured 
        under this section under which the total amount (except as 
        provided in paragraph (2)) of all future payments described in 
        subsection (b)(3) will be used only for costs of a qualified 
        long-term care insurance contract that covers the mortgagor or 
        members of the household residing in the property that is 
        subject to the mortgage, notwithstanding section 203(c)(2), the 
        Secretary shall not charge or collect the single premium 
        payment otherwise required under subparagraph (A) of such 
        section to be paid at the time of insurance.
            ``(2) Authority to Refinance Existing Mortgage and Finance 
        Closing Costs.--A mortgage described in paragraph (1) may 
        provide financing of amounts that are used to satisfy 
        outstanding mortgage obligations (in accordance with such 
        limitations as the Secretary shall prescribe) and any amounts 
        used for initial service charges, appraisal, inspection, and 
        other fees (as approved by the Secretary) in connection with 
        such mortgage, and the amount of future payments described in 
        subsection (b)(3) under the mortgage shall be reduced 
        accordingly.
            ``(3) Definition.--For purposes of this subsection, the 
        term `qualified long-term care insurance contract' has the 
        meaning given such term in section 7702B of the Internal 
        Revenue Code of 1986 (26 U.S.C. 7702B)), except that such 
        contract shall also meet the requirements of--
                    ``(A) sections 9 (relating to disclosure), 24 
                (relating to suitability), and 26 (relating to 
                contingent nonforfeiture) of the long-term care 
                insurance model regulation promulgated by the National 
                Association of Insurance Commissioners (as adopted as 
                of September 2000); and
                    ``(B) section 8 (relating to contingent 
                nonforfeiture) of the long-term care insurance model 
                Act promulgated by the National Association of 
                Insurance Commissioners (as adopted as of September 
                2000).''.
            (2) Applicability.--The provisions of section 255(l) of the 
        National Housing Act (as added by paragraph (1) of this 
        subsection) shall apply only to mortgages closed on or after 
        April 1, 2001.
    (d) Study of Single National Mortgage Limit.--The Secretary of 
Housing and Urban Development shall conduct an actuarially based study 
of the effects of establishing, for mortgages insured under section 255 
of the National Housing Act (12 U.S.C. 1715z-20), a single maximum 
mortgage amount limitation in lieu of applicability of section 
203(b)(2) of such Act (12 U.S.C. 1709(b)(2)). The study shall--
            (1) examine the effects of establishing such limitation at 
        different dollar amounts; and
            (2) examine the effects of such various limitations on--
                    (A) the risks to the General Insurance Fund 
                established under section 519 of such Act;
                    (B) the mortgage insurance premiums that would be 
                required to be charged to mortgagors to ensure 
                actuarial soundness of such Fund; and
                    (C) take into consideration the various approaches 
                to providing credit to borrowers who refinance home 
                equity conversion mortgages insured under section 255 
                of such Act.
Not later than 180 days after the date of the enactment of this Act, 
the Secretary shall complete the study under this subsection and submit 
a report describing the study and the results of the study to the 
Committee on Banking and Financial Services of the House of 
Representatives and to the Committee on Banking, Housing, and Urban 
Affairs of the Senate.

SEC. 202. ASSISTANCE FOR SELF-HELP HOUSING PROVIDERS.

    (a) Reauthorization.--Subsection (p) of section 11 of the Housing 
Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is 
amended to read as follows:
    ``(p) Authorization of Appropriations.--There are authorized to be 
appropriated to carry out this section such sums as may be necessary 
for fiscal year 2001.''.
    (b) Eligible Expenses.--Section 11(d)(2)(A) of the Housing 
Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is 
amended by inserting before the period at the end the following: ``, 
which may include reimbursing an organization, consortium, or 
affiliate, upon approval of any required environmental review, for 
nongrant amounts of the organization, consortium, or affiliate advanced 
before such review to acquire land''.
    (c) Deadline for Recapture of Funds.--Section 11 of the Housing 
Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is 
amended--
            (1) in subsection (i)(5)--
                    (A) by striking ``if the organization or consortia 
                has not used any grant amounts'' and inserting ``the 
                Secretary shall recapture any grant amounts provided to 
                the organization or consortia that are not used'';
                    (B) by striking ``(or,'' and inserting ``, except 
                that such period shall be 36 months''; and
                    (C) by striking ``within 36 months), the Secretary 
                shall recapture such unused amounts'' and inserting 
                ``and in the case of a grant amounts provided to a 
                local affiliate of the organization or consortia that 
                is developing five or more dwellings in connection with 
                such grant amounts''; and
            (2) in subsection (j), by inserting after ``carry out this 
        section'' the following: ``and grant amounts provided to a 
        local affiliate of the organization or consortia that is 
        developing five or more dwellings in connection with such grant 
        amounts''.
    (d) Technical Corrections.--Section 11 of the Housing Opportunity 
Program Extension Act of 1996 (42 U.S.C. 12805 note) is amended--
            (1) in subsection (b)(4), by striking ``Habitat for 
        Humanity International, its affiliates, and other''; and
            (2) in subsection (e)(2), by striking ``consoria'' and 
        inserting ``consortia''.

               TITLE III--SECTION 8 HOMEOWNERSHIP OPTION

SEC. 301. DOWNPAYMENT ASSISTANCE.

    (a) Amendments.--Section 8(y) of the United States Housing Act of 
1937 (42 U.S.C. 1437f(y)) is amended--
            (1) by redesignating paragraph (7) as paragraph (8); and
            (2) by inserting after paragraph (6) the following new 
        paragraph:
            ``(7) Downpayment assistance.--
                    ``(A) Authority.--A public housing agency may, in 
                lieu of providing monthly assistance payments under 
                this subsection on behalf of a family eligible for such 
                assistance and at the discretion of the public housing 
                agency, provide assistance for the family in the form 
                of a single grant to be used only as a contribution 
                toward the downpayment required in connection with the 
                purchase of a dwelling for fiscal year 2000 and each 
                fiscal year thereafter to the extent provided in 
                advance in appropriations Acts.
                    ``(B) Amount.--The amount of a downpayment grant on 
                behalf of an assisted family may not exceed the amount 
                that is equal to the sum of the assistance payments 
                that would be made during the first year of assistance 
                on behalf of the family, based upon the income of the 
                family at the time the grant is to be made.''.
    (b) Effective Date.--The amendments made by subsection (a) shall 
take effect immediately after the amendments made by section 555(c) of 
the Quality Housing and Work Responsibility Act of 1998 take effect 
pursuant to such section.

SEC. 302. PILOT PROGRAM FOR HOMEOWNERSHIP ASSISTANCE FOR DISABLED 
              FAMILIES.

    (a) In General.--A public housing agency providing tenant-based 
assistance on behalf of an eligible family under section 8 of the 
United States Housing Act of 1937 (42 U.S.C. 1437f) may provide 
assistance for a disabled family that purchases a dwelling unit 
(including a dwelling unit under a lease-purchase agreement) that will 
be owned by one or more members of the disabled family and will be 
occupied by the disabled family, if the disabled family--
            (1) purchases the dwelling unit before the expiration of 
        the 3-year period beginning on the date that the Secretary 
        first implements the pilot program under this section;
            (2) demonstrates that the disabled family has income from 
        employment or other sources (including public assistance), as 
        determined in accordance with requirements of the Secretary, 
        that is not less than twice the payment standard established by 
        the public housing agency (or such other amount as may be 
        established by the Secretary);
            (3) except as provided by the Secretary, demonstrates at 
        the time the disabled family initially receives tenant-based 
        assistance under this section that one or more adult members of 
        the disabled family have achieved employment for the period as 
        the Secretary shall require;
            (4) participates in a homeownership and housing counseling 
        program provided by the agency; and
            (5) meets any other initial or continuing requirements 
        established by the public housing agency in accordance with 
        requirements established by the Secretary.
    (b) Determination of Amount of Assistance.--
            (1) In general.--
                    (A) Monthly expenses not exceeding payment 
                standard.--If the monthly homeownership expenses, as 
                determined in accordance with requirements established 
                by the Secretary, do not exceed the payment standard, 
                the monthly assistance payment shall be the amount by 
                which the homeownership expenses exceed the highest of 
                the following amounts, rounded to the nearest dollar:
                            (i) 30 percent of the monthly adjusted 
                        income of the disabled family.
                            (ii) 10 percent of the monthly income of 
                        the disabled family.
                            (iii) If the disabled family is receiving 
                        payments for welfare assistance from a public 
                        agency, and a portion of those payments, 
                        adjusted in accordance with the actual housing 
                        costs of the disabled family, is specifically 
                        designated by that agency to meet the housing 
                        costs of the disabled family, the portion of 
                        those payments that is so designated.
                    (B) Monthly expenses exceed payment standard.--If 
                the monthly homeownership expenses, as determined in 
                accordance with requirements established by the 
                Secretary, exceed the payment standard, the monthly 
                assistance payment shall be the amount by which the 
                applicable payment standard exceeds the highest of the 
                amounts under clauses (i), (ii), and (iii) of 
                subparagraph (A).
            (2) Calculation of amount.--
                    (A) Low-income families.--A disabled family that is 
                a low-income family shall be eligible to receive 100 
                percent of the amount calculated under paragraph (1).
                    (B) Income between 81 and 89 percent of median.--A 
                disabled family whose income is between 81 and 89 
                percent of the median for the area shall be eligible to 
                receive 66 percent of the amount calculated under 
                paragraph (1).
                    (C) Income between 90 and 99 percent of median.--A 
                disabled family whose income is between 90 and 99 
                percent of the median for the area shall be eligible to 
                receive 33 percent of the amount calculated under 
                paragraph (1).
                    (D) Income more than 99 percent of median.--A 
                disabled family whose income is more than 99 percent of 
                the median for the area shall not be eligible to 
                receive assistance under this section.
    (c) Inspections and Contract Conditions.--
            (1) In general.--Each contract for the purchase of a 
        dwelling unit to be assisted under this section shall--
                    (A) provide for pre-purchase inspection of the 
                dwelling unit by an independent professional; and
                    (B) require that any cost of necessary repairs be 
                paid by the seller.
            (2) Annual inspections not required.--The requirement under 
        subsection (o)(8)(A)(ii) of section 8 of the United States 
        Housing Act of 1937 for annual inspections shall not apply to 
        dwelling units assisted under this section.
    (d) Other Authority of the Secretary.--The Secretary may--
            (1) limit the term of assistance for a disabled family 
        assisted under this section;
            (2) provide assistance for a disabled family for the entire 
        term of a mortgage for a dwelling unit if the disabled family 
        remains eligible for such assistance for such term; and
            (3) modify the requirements of this section as the 
        Secretary determines to be necessary to make appropriate 
        adaptations for lease-purchase agreements.
    (e) Assistance Payments Sent to Lender.--The Secretary shall remit 
assistance payments under this section directly to the mortgagee of the 
dwelling unit purchased by the disabled family receiving such 
assistance payments.
    (f) Inapplicability of Certain Provisions.--Assistance under this 
section shall not be subject to the requirements of the following 
provisions:
            (1) Subsection (c)(3)(B) of section 8 of the United States 
        Housing Act of 1937.
            (2) Subsection (d)(1)(B)(i) of section 8 of the United 
        States Housing Act of 1937.
            (3) Any other provisions of section 8 of the United States 
        Housing Act of 1937 governing maximum amounts payable to owners 
        and amounts payable by assisted families.
            (4) Any other provisions of section 8 of the United States 
        Housing Act of 1937 concerning contracts between public housing 
        agencies and owners.
            (5) Any other provisions of the United States Housing Act 
        of 1937 that are inconsistent with the provisions of this 
        section.
    (g) Reversion to Rental Status.--
            (1) Non-fha mortgages.--If a disabled family receiving 
        assistance under this section defaults under a mortgage not 
        insured under the National Housing Act, the disabled family may 
        not continue to receive rental assistance under section 8 of 
        the United States Housing Act of 1937 unless it complies with 
        requirements established by the Secretary.
            (2) All mortgages.--A disabled family receiving assistance 
        under this section that defaults under a mortgage may not 
        receive assistance under this section for occupancy of another 
        dwelling unit owned by 1 or more members of the disabled 
        family.
            (3) Exception.--This subsection shall not apply if the 
        Secretary determines that the disabled family receiving 
        assistance under this section defaulted under a mortgage due to 
        catastrophic medical reasons or due to the impact of a 
        federally declared major disaster or emergency.
    (h) Regulations.--Not later than 90 days after the date of the 
enactment of this Act, the Secretary shall issue regulations to 
implement this section. Such regulations may not prohibit any public 
housing agency providing tenant-based assistance on behalf of an 
eligible family under section 8 of the United States Housing Act of 
1937 from participating in the pilot program under this section.
    (i) Definition of Disabled Family.--For the purposes of this 
section, the term ``disabled family'' has the meaning given the term 
``person with disabilities'' in section 811(k)(2) of the Cranston-
Gonzalez National Affordable Housing Act (42 U.S.C. 8013(k)(2)).

SEC. 303. FUNDING FOR PILOT PROGRAMS.

    (a) Authorization of Appropriations.--There is authorized to be 
appropriated such sums as may be necessary for fiscal year 2001 for 
assistance in connection with the existing homeownership pilot programs 
carried out under the demonstration program authorized under to section 
555(b) of the Quality Housing and Work Responsibility Act of 1998 
(Public Law 105-276; 112 Stat. 2613).
    (b) Use.--Subject to subsection (c), amounts made available 
pursuant to this section shall be used only through such homeownership 
pilot programs to provide, on behalf of families participating in such 
programs, amounts for downpayments in connection with dwellings 
purchased by such families using assistance made available under 
section 8(y) of the United States Housing Act of 1937 (42 U.S.C. 
1437f(y)). No such downpayment grant may exceed 20 percent of the 
appraised value of the dwelling purchased with assistance under such 
section 8(y).
    (c) Matching Requirement.--The amount of assistance made available 
under this section for any existing homeownership pilot program may not 
exceed twice the amount donated from sources other than this section 
for use under the program for assistance described in subsection (b). 
Amounts donated from other sources may include amounts from State 
housing finance agencies and Neighborhood Housing Services of America.

   TITLE IV--PRIVATE MORTGAGE INSURANCE CANCELLATION AND TERMINATION

SEC. 401. SHORT TITLE.

    This title may be cited as the ``Private Mortgage Insurance 
Technical Corrections and Clarification Act''.

SEC. 402. CHANGES IN AMORTIZATION SCHEDULE.

    (a) Treatment of Adjustable Rate Mortgages.--The Homeowners 
Protection Act of 1998 (12 U.S.C. 4901 et seq.) is amended--
            (1) in section 2--
                    (A) in paragraph (2)(B)(i), by striking 
                ``amortization schedules'' and inserting ``the 
                amortization schedule then in effect'';
                    (B) in paragraph (16)(B), by striking 
                ``amortization schedules'' and inserting ``the 
                amortization schedule then in effect'';
                    (C) by redesignating paragraphs (6) through (16) 
                (as amended by the preceding provisions of this 
                paragraph) as paragraphs (8) through (18), 
                respectively; and
                    (D) by inserting after paragraph (5) the following 
                new paragraph:
            ``(6) Amortization schedule then in effect.--The term 
        `amortization schedule then in effect' means, with respect to 
        an adjustable rate mortgage, a schedule established at the time 
        at which the residential mortgage transaction is consummated 
        or, if such schedule has been changed or recalculated, is the 
        most recent schedule under the terms of the note or mortgage, 
        which shows--
                    ``(A) the amount of principal and interest that is 
                due at regular intervals to retire the principal 
                balance and accrued interest over the remaining 
                amortization period of the loan; and
                    ``(B) the unpaid balance of the loan after each 
                such scheduled payment is made.''; and
            (2) in section 3(f)(1)(B)(ii), by striking ``amortization 
        schedules'' and inserting ``the amortization schedule then in 
        effect''.
    (b) Treatment of Balloon Mortgages.--Paragraph (1) of section 2 of 
the Homeowners Protection Act of 1998 (12 U.S.C. 4901(1)) is amended by 
adding at the end the following new sentence: ``A residential mortgage 
that (A) does not fully amortize over the term of the obligation, and 
(B) contains a conditional right to refinance or modify the unamortized 
principal at the maturity date of the term, shall be considered to be 
an adjustable rate mortgage for purposes of this Act.''.
    (c) Treatment of Loan Modifications.--
            (1) In general.--Section 3 of the Homeowners Protection Act 
        of 1998 (12 U.S.C. 4902) is amended--
                    (A) by redesignating subsections (d) through (f) as 
                subsections (e) through (g), respectively; and
                    (B) by inserting after subsection (c) the following 
                new subsection:
    ``(d) Treatment of Loan Modifications.--If a mortgagor and 
mortgagee (or holder of the mortgage) agree to a modification of the 
terms or conditions of a loan pursuant to a residential mortgage 
transaction, the cancellation date, termination date, or final 
termination shall be recalculated to reflect the modified terms and 
conditions of such loan.''.
            (2) Conforming amendments.--Section 4(a) of the Homeowners 
        Protection Act of 1998 (12 U.S.C. 4903(a)) is amended--
                    (A) in paragraph (1)--
                            (i) in the matter preceding subparagraph 
                        (A), by striking ``section 3(f)(1)'' and 
                        inserting ``section 3(g)(1)'';
                            (ii) in subparagraph (A)(ii)(IV), by 
                        striking ``section 3(f)'' and inserting 
                        ``section 3(g)''; and
                            (iii) in subparagraph (B)(iii), by striking 
                        ``section 3(f)'' and inserting ``section 
                        3(g)''; and
                    (B) in paragraph (2), by striking ``section 
                3(f)(1)'' and inserting ``section 3(g)(1)''.

SEC. 403. DELETION OF AMBIGUOUS REFERENCES TO RESIDENTIAL MORTGAGES.

    (a) Termination of Private Mortgage Insurance.--Section 3 of the 
Homeowners Protection Act of 1998 (12 U.S.C. 4902) is amended--
            (1) in subsection (c), by inserting ``on residential 
        mortgage transactions'' after ``imposed''; and
            (2) in subsection (g) (as so redesignated by the preceding 
        provisions of this title)--
                    (A) in paragraph (1), in the matter preceding 
                subparagraph (A), by striking ``mortgage or'';
                    (B) in paragraph (2), by striking ``mortgage or''; 
                and
                    (C) in paragraph (3), by striking ``mortgage or'' 
                and inserting ``residential mortgage or residential''.
    (b) Disclosure Requirements.--Section 4 of the Homeowners 
Protection Act of 1998 (12 U.S.C. 4903(a)) is amended--
            (1) in subsection (a)--
                    (A) in paragraph (1)--
                            (i) by striking ``mortgage or'' the first 
                        place it appears; and
                            (ii) by striking ``mortgage or'' the second 
                        place it appears and inserting ``residential''; 
                        and
                    (B) in paragraph (2), by striking ``mortgage or'' 
                and inserting ``residential'';
            (2) in subsection (c), by striking ``paragraphs (1)(B) and 
        (3) of subsection (a)'' and inserting ``subsection (a)(3)''; 
        and
            (3) in subsection (d), by inserting before the period at 
        the end the following: ``, which disclosures shall relate to 
        the mortgagor's rights under this Act''.
    (c) Disclosure Requirements for Lender-Paid Mortgage Insurance.--
Section 6 of the Homeowners Protection Act of 1998 (12 U.S.C. 4905) is 
amended--
            (1) in subsection (c)--
                    (A) in the matter preceding paragraph (1), by 
                striking ``a residential mortgage or''; and
                    (B) in paragraph (2), by inserting ``transaction'' 
                after ``residential mortgage''; and
            (2) in subsection (d), by inserting ``transaction'' after 
        ``residential mortgage''.

SEC. 404. CANCELLATION RIGHTS AFTER CANCELLATION DATE.

    Section 3 of the Homeowners Protection Act of 1998 (12 U.S.C. 4902) 
is amended--
            (1) in subsection (a)--
                    (A) in the matter preceding paragraph (1), by 
                inserting after ``cancellation date'' the following: 
                ``or any later date that the mortgagor fulfills all of 
                the requirements under paragraphs (1) through (4)'';
                    (B) in paragraph (2), by striking ``and'' at the 
                end;
                    (C) by redesignating paragraph (3) as paragraph 
                (4); and
                    (D) by inserting after paragraph (2) the following 
                new paragraph:
            ``(3) is current on the payments required by the terms of 
        the residential mortgage transaction; and''; and
            (2) in subsection (e)(1)(B) (as so redesignated by the 
        preceding provisions of this title), by striking ``subsection 
        (a)(3)'' and inserting ``subsection (a)(4)''.

SEC. 405. CLARIFICATION OF CANCELLATION AND TERMINATION ISSUES AND 
              LENDER PAID MORTGAGE INSURANCE DISCLOSURE REQUIREMENTS.

    (a) Good Payment History.--Section 2(4) of the Homeowners 
Protection Act of 1998 (12 U.S.C. 4901(4)) is amended--
            (1) in subparagraph (A)--
                    (A) by inserting ``the later of (i)'' before ``the 
                date''; and
                    (B) by inserting ``, or (ii) the date that the 
                mortgagor submits a request for cancellation under 
                section 3(a)(1)'' before the semicolon; and
            (2) in subparagraph (B)--
                    (A) by inserting ``the later of (i)'' before ``the 
                date''; and
                    (B) by inserting ``, or (ii) the date that the 
                mortgagor submits a request for cancellation under 
                section 3(a)(1)'' before the period at the end.
    (b) Automatic Termination.--Paragraph (2) of section 3(b) of the 
Homeowners Protection Act of 1998 (12 U.S.C. 4902(b)(2)) is amended to 
read as follows:
            ``(2) if the mortgagor is not current on the termination 
        date, on the first day of the first month beginning after the 
        date that the mortgagor becomes current on the payments 
        required by the terms of the residential mortgage 
        transaction.''
    (c) Premium Payments.--Section 3 of the Homeowners Protection Act 
of 1998 (12 U.S.C. 4902) is amended by adding at the end the following 
new subsection:
    ``(h) Accrued Obligation for Premium Payments.--The cancellation or 
termination under this section of the private mortgage insurance of a 
mortgagor shall not affect the rights of any mortgagee, servicer, or 
mortgage insurer to enforce any obligation of such mortgagor for 
premium payments accrued prior to the date on which such cancellation 
or termination occurred.''.

SEC. 406. DEFINITIONS.

    (a) Refinanced.--Section 6(c)(1)(B)(ii) of the Homeowners 
Protection Act of 1998 (12 U.S.C. 4905(c)(1)(B)(ii)) is amended by 
inserting after ``refinanced'' the following: ``(under the meaning 
given such term in the regulations issued by the Board of Governors of 
the Federal Reserve System to carry out the Truth in Lending Act (15 
U.S.C. 1601 et seq.))''.
    (b) Midpoint of the Amortization Period.--Section 2 of the 
Homeowners Protection Act of 1998 (12 U.S.C. 4901) is amended by 
inserting after paragraph (6) (as added by the preceding provisions of 
this title) the following new paragraph:
            ``(7) Midpoint of the amortization period.--The term 
        `midpoint of the amortization period' means, with respect to a 
        residential mortgage transaction, the point in time that is 
        halfway through the period that begins upon the first day of 
        the amortization period established at the time a residential 
        mortgage transaction is consummated and ends upon the 
        completion of the entire period over which the mortgage is 
        scheduled to be amortized.''.
    (c) Original Value.--Section 2(12) of the Homeowners Protection Act 
of 1998 (12 U.S.C. 4901(10)) (as so redesignated by the preceding 
provisions of this title) is amended--
            (1) by inserting ``transaction'' after ``a residential 
        mortgage''; and
            (2) by adding at the end the following new sentence: ``In 
        the case of a residential mortgage transaction for refinancing 
        the principal residence of the mortgagor, such term means only 
        the appraised value relied upon by the mortgagee to approve the 
        refinance transaction.''.
    (d) Principal Residence.--Section 2 of the Homeowners Protection 
Act of 1998 (12 U.S.C. 4901) is amended--
            (1) in paragraph (14) (as so redesignated by the preceding 
        provisions of this title) by striking ``primary'' and inserting 
        ``principal''; and
            (2) in paragraph (15) (as so redesignated by the preceding 
        provisions of this title) by striking ``primary'' and inserting 
        ``principal''.

                 TITLE V--NATIVE AMERICAN HOMEOWNERSHIP

                  Subtitle A--Native American Housing

SEC. 501. LANDS TITLE REPORT COMMISSION.

    (a) Establishment.--Subject to sums being provided in advance in 
appropriations Acts, there is established a Commission to be known as 
the Lands Title Report Commission (hereafter in this section referred 
to as the ``Commission'') to facilitate home loan mortgages on Indian 
trust lands. The Commission will be subject to oversight by the 
Committee on Banking and Financial Services of the House of 
Representatives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate.
    (b) Membership.--
            (1) Appointment.--The Commission shall be composed of 12 
        members, appointed not later than 90 days after the date of the 
        enactment of this Act as follows:
                    (A) Four members shall be appointed by the 
                President.
                    (B) Four members shall be appointed by the 
                Chairperson of the Committee on Banking and Financial 
                Services of the House of Representatives.
                    (C) Four members shall be appointed by the 
                Chairperson of the Committee on Banking, Housing, and 
                Urban Affairs of the Senate.
            (2) Qualifications.--
                    (A) Members of tribes.--At all times, not less than 
                eight of the members of the Commission shall be members 
                of federally recognized Indian tribes.
                    (B) Experience in land title matters.--All members 
                of the Commission shall have experience in and 
                knowledge of land title matters relating to Indian 
                trust lands.
            (3) Chairperson.--The Chairperson of the Commission shall 
        be one of the members of the Commission appointed under 
        paragraph (1)(C), as elected by the members of the Commission.
            (4) Vacancies.--Any vacancy on the Commission shall not 
        affect its powers, but shall be filled in the manner in which 
        the original appointment was made.
            (5) Travel expenses.--Members of the Commission shall serve 
        without pay, but each member shall receive travel expenses, 
        including per diem in lieu of subsistence, in accordance with 
        sections 5702 and 5703 of title 5, United States Code.
    (c) Initial Meeting.--The Chairperson of the Commission shall call 
the initial meeting of the Commission. Such meeting shall be held 
within 30 days after the Chairperson of the Commission determines that 
sums sufficient for the Commission to carry out its duties under this 
Act have been appropriated for such purpose.
    (d) Duties.--The Commission shall analyze the system of the Bureau 
of Indian Affairs of the Department of the Interior for maintaining 
land ownership records and title documents and issuing certified title 
status reports relating to Indian trust lands and, pursuant to such 
analysis, determine how best to improve or replace the system--
            (1) to ensure prompt and accurate responses to requests for 
        title status reports;
            (2) to eliminate any backlog of requests for title status 
        reports; and
            (3) to ensure that the administration of the system will 
        not in any way impair or restrict the ability of Native 
        Americans to obtain conventional loans for purchase of 
        residences located on Indian trust lands, including any actions 
        necessary to ensure that the system will promptly be able to 
        meet future demands for certified title status reports, taking 
        into account the anticipated complexity and volume of such 
        requests.
    (e) Report.--Not later than the date of the termination of the 
Commission under subsection (h), the Commission shall submit a report 
to the Committee on Banking and Financial Services of the House of 
Representatives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate describing the analysis and determinations made 
pursuant to subsection (d).
    (f) Powers.--
            (1) Hearings and sessions.--The Commission may, for the 
        purpose of carrying out this section, hold hearings, sit and 
        act at times and places, take testimony, and receive evidence 
        as the Commission considers appropriate.
            (2) Staff of federal agencies.--Upon request of the 
        Commission, the head of any Federal department or agency may 
        detail, on a reimbursable basis, any of the personnel of that 
        department or agency to the Commission to assist it in carrying 
        out its duties under this section.
            (3) Obtaining official data.--The Commission may secure 
        directly from any department or agency of the United States 
        information necessary to enable it to carry out this section. 
        Upon request of the Chairperson of the Commission, the head of 
        that department or agency shall furnish that information to the 
        Commission.
            (4) Mails.--The Commission may use the United States mails 
        in the same manner and under the same conditions as other 
        departments and agencies of the United States.
            (5) Administrative support services.--Upon the request of 
        the Commission, the Administrator of General Services shall 
        provide to the Commission, on a reimbursable basis, the 
        administrative support services necessary for the Commission to 
        carry out its duties under this section.
            (6) Staff.--The Commission may appoint personnel as it 
        considers appropriate, subject to the provisions of title 5, 
        United States Code, governing appointments in the competitive 
        service, and shall pay such personnel in accordance with the 
        provisions of chapter 51 and subchapter III of chapter 53 of 
        that title relating to classification and General Schedule pay 
        rates.
    (g) Authorization of Appropriations.--There is authorized to be 
appropriated to carry out this section such sums as may be necessary, 
and any amounts appropriated pursuant to this subsection shall remain 
available until expended.
    (h) Termination.--The Commission shall terminate 1 year after the 
date of the initial meeting of the Commission.

SEC. 502. LOAN GUARANTEES.

    Section 184(i) of the Housing and Community Development Act of 1992 
(12 U.S.C. 1715z-13a(i)) is amended--
            (1) in paragraph (5), by striking subparagraph (C) and 
        inserting the following new subparagraph:
                    ``(C) Limitation on outstanding aggregate principal 
                amount.--Subject to the limitations in subparagraphs 
                (A) and (B), the Secretary may enter into commitments 
                to guarantee loans under this section in each fiscal 
                year with an aggregate outstanding principal amount not 
                exceeding such amount as may be provided in 
                appropriation Acts for such fiscal year.''; and
            (2) in paragraph (7), by striking ``each of fiscal years 
        1997, 1998, 1999, 2000, and 2001'' and inserting ``each fiscal 
        year''.

SEC. 503. NATIVE AMERICAN HOUSING ASSISTANCE.

    (a) Restriction on Waiver Authority.--
            (1) In general.--Section 101(b)(2) of the Native American 
        Housing Assistance and Self-Determination Act of 1996 (25 
        U.S.C. 4111(b)(2)) is amended by striking ``if the Secretary'' 
        and all that follows through the period at the end and 
        inserting the following: ``for a period of not more than 90 
        days, if the Secretary determines that an Indian tribe has not 
        complied with, or is unable to comply with, those requirements 
        due to exigent circumstances beyond the control of the Indian 
        tribe.''.
            (2) Local cooperation agreement.--Section 101(c) of the 
        Native American Housing Assistance and Self-Determination Act 
        of 1996 (25 U.S.C. 4111(c)) is amended by adding at the end the 
        following: ``The Secretary may waive the requirements of this 
        subsection and subsection (d) if the recipient has made a good 
        faith effort to fulfill the requirements of this subsection and 
        subsection (d) and agrees to make payments in lieu of taxes to 
        the appropriate taxing authority in an amount consistent with 
        the requirements of subsection (d)(2) until such time as the 
        matter of making such payments has been resolved in accordance 
        with subsection (d).''.
    (b) Assistance to Families That Are Not Low-Income.--Section 102(c) 
of the Native American Housing Assistance and Self-Determination Act of 
1996 (25 U.S.C. 4112(c)) is amended by adding at the end the following:
            ``(6) Certain families.--With respect to assistance 
        provided under section 201(b)(2) by a recipient to Indian 
        families that are not low-income families, evidence that there 
        is a need for housing for each such family during that period 
        that cannot reasonably be met without such assistance.''.
    (c) Elimination of Waiver Authority for Small Tribes.--Section 102 
of the Native American Housing Assistance and Self-Determination Act of 
1996 (25 U.S.C. 4112) is amended--
            (1) by striking subsection (f); and
            (2) by redesignating subsection (g) as subsection (f).
    (d) Environmental Compliance.--Section 105 of the Native American 
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4115) 
is amended by adding at the end the following:
    ``(d) Environmental Compliance.--The Secretary may waive the 
requirements under this section if the Secretary determines that a 
failure on the part of a recipient to comply with provisions of this 
section--
            ``(1) will not frustrate the goals of the National 
        Environmental Policy Act of 1969 (42 U.S.C. 4331 et seq.) or 
        any other provision of law that furthers the goals of that Act;
            ``(2) does not threaten the health or safety of the 
        community involved by posing an immediate or long-term hazard 
        to residents of that community;
            ``(3) is a result of inadvertent error, including an 
        incorrect or incomplete certification provided under subsection 
        (c)(1); and
            ``(4) may be corrected through the sole action of the 
        recipient.''.
    (e) Oversight.--
            (1) Repayment.--Section 209 of the Native American Housing 
        Assistance and Self-Determination Act of 1996 (25 U.S.C. 4139) 
        is amended to read as follows:

``SEC. 209. NONCOMPLIANCE WITH AFFORDABLE HOUSING REQUIREMENT.

    ``If a recipient uses grant amounts to provide affordable housing 
under this title, and at any time during the useful life of the housing 
the recipient does not comply with the requirement under section 
205(a)(2), the Secretary shall take appropriate action under section 
401(a).''.
            (2) Audits and reviews.--Section 405 of the Native American 
        Housing Assistance and Self-Determination Act of 1996 (25 
        U.S.C. 4165) is amended to read as follows:

``SEC. 405. REVIEW AND AUDIT BY SECRETARY.

    ``(a) Requirements Under Chapter 75 of Title 31, United States 
Code.--An entity designated by an Indian tribe as a housing entity 
shall be treated, for purposes of chapter 75 of title 31, United States 
Code, as a non-Federal entity that is subject to the audit requirements 
that apply to non-Federal entities under that chapter.
    ``(b) Additional Reviews and Audits.--
            ``(1) In general.--In addition to any audit or review under 
        subsection (a), to the extent the Secretary determines such 
        action to be appropriate, the Secretary may conduct an audit or 
        review of a recipient in order to--
                    ``(A) determine whether the recipient--
                            ``(i) has carried out--
                                    ``(I) eligible activities in a 
                                timely manner; and
                                    ``(II) eligible activities and 
                                certification in accordance with this 
                                Act and other applicable law;
                            ``(ii) has a continuing capacity to carry 
                        out eligible activities in a timely manner; and
                            ``(iii) is in compliance with the Indian 
                        housing plan of the recipient; and
                    ``(B) verify the accuracy of information contained 
                in any performance report submitted by the recipient 
                under section 404.
            ``(2) On-site visits.--To the extent practicable, the 
        reviews and audits conducted under this subsection shall 
        include on-site visits by the appropriate official of the 
        Department of Housing and Urban Development.
    ``(c) Review of Reports.--
            ``(1) In general.--The Secretary shall provide each 
        recipient that is the subject of a report made by the Secretary 
        under this section notice that the recipient may review and 
        comment on the report during a period of not less than 30 days 
        after the date on which notice is issued under this paragraph.
            ``(2) Public availability.--After taking into consideration 
        any comments of the recipient under paragraph (1), the 
        Secretary--
                    ``(A) may revise the report; and
                    ``(B) not later than 30 days after the date on 
                which those comments are received, shall make the 
                comments and the report (with any revisions made under 
                subparagraph (A)) readily available to the public.
    ``(d) Effect of Reviews.--Subject to section 401(a), after 
reviewing the reports and audits relating to a recipient that are 
submitted to the Secretary under this section, the Secretary may adjust 
the amount of a grant made to a recipient under this Act in accordance 
with the findings of the Secretary with respect to those reports and 
audits.''.
    (f) Allocation Formula.--Section 302(d)(1) of the Native American 
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 
4152(d)(1)) is amended--
            (1) by striking ``The formula,'' and inserting the 
        following:
                    ``(A) In general.--Except with respect to an Indian 
                tribe described in subparagraph (B), the formula''; and
            (2) by adding at the end the following:
                    ``(B) Certain indian tribes.--With respect to 
                fiscal year 2001 and each fiscal year thereafter, for 
                any Indian tribe with an Indian housing authority that 
                owns or operates fewer than 250 public housing units, 
                the formula shall provide that if the amount provided 
                for a fiscal year in which the total amount made 
                available for assistance under this Act is equal to or 
                greater than the amount made available for fiscal year 
                1996 for assistance for the operation and modernization 
                of the public housing referred to in subparagraph (A), 
                then the amount provided to that Indian tribe as 
                modernization assistance shall be equal to the average 
                annual amount of funds provided to the Indian tribe 
                (other than funds provided as emergency assistance) 
                under the assistance program under section 14 of the 
                United States Housing Act of 1937 (42 U.S.C. 1437l) for 
                the period beginning with fiscal year 1992 and ending 
                with fiscal year 1997.''.
    (g) Hearing Requirement.--Section 401(a) of the Native American 
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 
4161(a)) is amended--
            (1) by redesignating paragraphs (1) through (4) as 
        subparagraphs (A) through (D), respectively, and realigning 
        such subparagraphs (as so redesignated) so as to be indented 4 
        ems from the left margin;
            (2) by striking ``Except as provided'' and inserting the 
        following:
            ``(1) In general.--Except as provided'';
            (3) by striking ``If the Secretary takes an action under 
        paragraph (1), (2), or (3)'' and inserting the following:
            ``(2) Continuance of actions.--If the Secretary takes an 
        action under subparagraph (A), (B), or (C) of paragraph (1)''; 
        and
            (4) by adding at the end the following:
            ``(3) Exception for certain actions.--
                    ``(A) In general.--Notwithstanding any other 
                provision of this subsection, if the Secretary makes a 
                determination that the failure of a recipient of 
                assistance under this Act to comply substantially with 
                any material provision (as that term is defined by the 
                Secretary) of this Act is resulting, and would continue 
                to result, in a continuing expenditure of Federal funds 
                in a manner that is not authorized by law, the 
                Secretary may take an action described in paragraph 
                (1)(C) before conducting a hearing.
                    ``(B) Procedural requirement.--If the Secretary 
                takes an action described in subparagraph (A), the 
                Secretary shall--
                            ``(i) provide notice to the recipient at 
                        the time that the Secretary takes that action; 
                        and
                            ``(ii) conduct a hearing not later than 60 
                        days after the date on which the Secretary 
                        provides notice under clause (i).
                    ``(C) Determination.--Upon completion of a hearing 
                under this paragraph, the Secretary shall make a 
                determination regarding whether to continue taking the 
                action that is the subject of the hearing, or take 
                another action under this subsection.''.
    (h) Performance Agreement Time Limit.--Section 401(b) of the Native 
American Housing Assistance and Self-Determination Act of 1996 (25 
U.S.C. 4161(b)) is amended--
            (1) by striking ``If the Secretary'' and inserting the 
        following:
            ``(1) In general.--If the Secretary'';
            (2) by striking ``(1) is not'' and inserting the following:
                    ``(A) is not'';
            (3) by striking ``(2) is a result'' and inserting the 
        following:
                    ``(B) is a result'';
            (4) in the flush material following paragraph (1)(B), as 
        redesignated by paragraph (3) of this subsection--
                    (A) by realigning such material so as to be 
                indented 2 ems from the left margin; and
                    (B) by inserting before the period at the end the 
                following: ``, if the recipient enters into a 
                performance agreement with the Secretary that specifies 
                the compliance objectives that the recipient will be 
                required to achieve by the termination date of the 
                performance agreement''; and
            (5) by adding at the end the following:
            ``(2) Performance agreement.--The period of a performance 
        agreement described in paragraph (1) shall be for 1 year.
            ``(3) Review.--Upon the termination of a performance 
        agreement entered into under paragraph (1), the Secretary shall 
        review the performance of the recipient that is a party to the 
        agreement.
            ``(4) Effect of review.--If, on the basis of a review under 
        paragraph (3), the Secretary determines that the recipient--
                    ``(A) has made a good faith effort to meet the 
                compliance objectives specified in the agreement, the 
                Secretary may enter into an additional performance 
                agreement for the period specified in paragraph (2); 
                and
                    ``(B) has failed to make a good faith effort to 
                meet applicable compliance objectives, the Secretary 
                shall determine the recipient to have failed to comply 
                substantially with this Act, and the recipient shall be 
                subject to an action under subsection (a).''.
    (i) Labor Standards.--Section 104(b) of the Native American Housing 
Assistance and Self-Determination Act of 1996 (25 U.S.C. 4114(b) is 
amended--
            (1) in paragraph (1), by striking ``Davis-Bacon Act (40 
        U.S.C. 276a-276a-5)'' and inserting ``Act of March 3, 1931 
        (commonly known as the Davis-Bacon Act; chapter 411; 46 Stat. 
        1494; 40 U.S.C 276a et seq.)''; and
            (2) by adding at the end the following new paragraph:
            ``(3) Application of tribal laws.--Paragraph (1) shall not 
        apply to any contract or agreement for assistance, sale, or 
        lease pursuant to this Act, if such contract or agreement is 
        otherwise covered by one or more laws or regulations adopted by 
        an Indian tribe that requires the payment of not less than 
        prevailing wages, as determined by the Indian tribe.''.
    (j) Technical and Conforming Amendments.--
            (1) Table of contents.--Section 1(b) of the Native American 
        Housing Assistance and Self-Determination Act of 1996 (25 
        U.S.C. 4101 note) is amended in the table of contents--
                    (A) by striking the item relating to section 206; 
                and
                    (B) by striking the item relating to section 209 
                and inserting the following:

``209. Noncompliance with affordable housing requirement.''.
            (2) Certification of compliance with subsidy layering 
        requirements.--Section 206 of the Native American Housing 
        Assistance and Self-Determination Act of 1996 (25 U.S.C. 4136) 
        is repealed.
            (3) Terminations.--Section 502(a) of the Native American 
        Housing Assistance and Self-Determination Act of 1996 (25 
        U.S.C. 4181(a)) is amended by adding at the end the following: 
        ``Any housing that is the subject of a contract for tenant-
        based assistance between the Secretary and an Indian housing 
        authority that is terminated under this section shall, for the 
        following fiscal year and each fiscal year thereafter, be 
        considered to be a dwelling unit under section 302(b)(1).''.

                  Subtitle B--Native Hawaiian Housing

SEC. 511. SHORT TITLE.

    This subtitle may be cited as the ``Hawaiian Homelands 
Homeownership Act of 2000''.

SEC. 512. FINDINGS.

    The Congress finds that--
            (1) the United States has undertaken a responsibility to 
        promote the general welfare of the United States by--
                    (A) employing its resources to remedy the unsafe 
                and unsanitary housing conditions and the acute 
                shortage of decent, safe, and sanitary dwellings for 
                families of lower income; and
                    (B) developing effective partnerships with 
                governmental and private entities to accomplish the 
                objectives referred to in subparagraph (A);
            (2) the United States has a special responsibility for the 
        welfare of the Native peoples of the United States, including 
        Native Hawaiians;
            (3) pursuant to the provisions of the Hawaiian Homes 
        Commission Act, 1920 (42 Stat. 108 et seq.), the United States 
        set aside 200,000 acres of land in the Federal territory that 
        later became the State of Hawaii in order to establish a 
        homeland for the native people of Hawaii--Native Hawaiians;
            (4) despite the intent of Congress in 1920 to address the 
        housing needs of Native Hawaiians through the enactment of the 
        Hawaiian Homes Commission Act, 1920 (42 Stat. 108 et seq.), 
        Native Hawaiians eligible to reside on the Hawaiian home lands 
        have been foreclosed from participating in Federal housing 
        assistance programs available to all other eligible families in 
        the United States;
            (5) although Federal housing assistance programs have been 
        administered on a racially neutral basis in the State of 
        Hawaii, Native Hawaiians continue to have the greatest unmet 
        need for housing and the highest rates of overcrowding in the 
        United States;
            (6) among the Native American population of the United 
        States, Native Hawaiians experience the highest percentage of 
        housing problems in the United States, as the percentage--
                    (A) of housing problems in the Native Hawaiian 
                population is 49 percent, as compared to--
                            (i) 44 percent for American Indian and 
                        Alaska Native households in Indian country; and
                            (ii) 27 percent for all other households in 
                        the United States; and
                    (B) overcrowding in the Native Hawaiian population 
                is 36 percent as compared to 3 percent for all other 
                households in the United States;
            (7) among the Native Hawaiian population, the needs of 
        Native Hawaiians, as that term is defined in section 801 of the 
        Native American Housing Assistance and Self-Determination Act 
        of 1996 (as added by this subtitle), eligible to reside on the 
        Hawaiian Home Lands are the most severe, as--
                    (A) the percentage of overcrowding in Native 
                Hawaiian households on the Hawaiian Home Lands is 36 
                percent; and
                    (B) approximately 13,000 Native Hawaiians, which 
                constitute 95 percent of the Native Hawaiians who are 
                eligible to reside on the Hawaiian Home Lands, are in 
                need of housing;
            (8) applying the Department of Housing and Urban 
        Development guidelines--
                    (A) 70.8 percent of Native Hawaiians who either 
                reside or who are eligible to reside on the Hawaiian 
                Home Lands have incomes that fall below the median 
                family income; and
                    (B) 50 percent of Native Hawaiians who either 
                reside or who are eligible to reside on the Hawaiian 
                Home Lands have incomes below 30 percent of the median 
                family income;
            (9) \1/3\ of those Native Hawaiians who are eligible to 
        reside on the Hawaiian Home Lands pay more than 30 percent of 
        their income for shelter, and \1/2\ of those Native Hawaiians 
        face overcrowding;
            (10) the extraordinarily severe housing needs of Native 
        Hawaiians demonstrate that Native Hawaiians who either reside 
        on, or are eligible to reside on, Hawaiian Home Lands have been 
        denied equal access to Federal low-income housing assistance 
        programs available to other qualified residents of the United 
        States, and that a more effective means of addressing their 
        housing needs must be authorized;
            (11) consistent with the recommendations of the National 
        Commission on American Indian, Alaska Native, and Native 
        Hawaiian Housing, and in order to address the continuing 
        prevalence of extraordinarily severe housing needs among Native 
        Hawaiians who either reside or are eligible to reside on the 
        Hawaiian Home Lands, Congress finds it necessary to extend the 
        Federal low-income housing assistance available to American 
        Indians and Alaska Natives under the Native American Housing 
        Assistance and Self-Determination Act of 1996 (25 U.S.C. 4101 
        et seq.) to those Native Hawaiians;
            (12) under the treatymaking power of the United States, 
        Congress had the constitutional authority to confirm a treaty 
        between the United States and the government that represented 
        the Hawaiian people, and from 1826 until 1893, the United 
        States recognized the independence of the Kingdom of Hawaii, 
        extended full diplomatic recognition to the Hawaiian 
        Government, and entered into treaties and conventions with the 
        Hawaiian monarchs to govern commerce and navigation in 1826, 
        1842, 1849, 1875, and 1887;
            (13) the United States has recognized and reaffirmed that--
                    (A) Native Hawaiians have a cultural, historic, and 
                land-based link to the indigenous people who exercised 
                sovereignty over the Hawaiian Islands, and that group 
                has never relinquished its claims to sovereignty or its 
                sovereign lands;
                    (B) Congress does not extend services to Native 
                Hawaiians because of their race, but because of their 
                unique status as the indigenous people of a once 
                sovereign nation as to whom the United States has 
                established a trust relationship;
                    (C) Congress has also delegated broad authority to 
                administer a portion of the Federal trust 
                responsibility to the State of Hawaii;
                    (D) the political status of Native Hawaiians is 
                comparable to that of American Indians and Alaska 
                Natives; and
                    (E) the aboriginal, indigenous people of the United 
                States have--
                            (i) a continuing right to autonomy in their 
                        internal affairs; and
                            (ii) an ongoing right of self-determination 
                        and self-governance that has never been 
                        extinguished;
            (14) the political relationship between the United States 
        and the Native Hawaiian people has been recognized and 
        reaffirmed by the United States as evidenced by the inclusion 
        of Native Hawaiians in--
                    (A) the Native American Programs Act of 1974 (42 
                U.S.C. 2291 et seq.);
                    (B) the American Indian Religious Freedom Act (42 
                U.S.C. 1996 et seq.);
                    (C) the National Museum of the American Indian Act 
                (20 U.S.C. 80q et seq.);
                    (D) the Native American Graves Protection and 
                Repatriation Act (25 U.S.C. 3001 et seq.);
                    (E) the National Historic Preservation Act (16 
                U.S.C. 470 et seq.);
                    (F) the Native American Languages Act of 1992 (106 
                Stat. 3434);
                    (G) the American Indian, Alaska Native and Native 
                Hawaiian Culture and Arts Development Act (20 U.S.C. 
                4401 et seq.);
                    (H) the Job Training Partnership Act (29 U.S.C. 
                1501 et seq.); and
                    (I) the Older Americans Act of 1965 (42 U.S.C. 3001 
                et seq.); and
            (15) in the area of housing, the United States has 
        recognized and reaffirmed the political relationship with the 
        Native Hawaiian people through--
                    (A) the enactment of the Hawaiian Homes Commission 
                Act, 1920 (42 Stat. 108 et seq.), which set aside 
                approximately 200,000 acres of public lands that became 
                known as Hawaiian Home Lands in the Territory of Hawaii 
                that had been ceded to the United States for 
                homesteading by Native Hawaiians in order to 
                rehabilitate a landless and dying people;
                    (B) the enactment of the Act entitled ``An Act to 
                provide for the admission of the State of Hawaii into 
                the Union'', approved March 18, 1959 (73 Stat. 4)--
                            (i) by ceding to the State of Hawaii title 
                        to the public lands formerly held by the United 
                        States, and mandating that those lands be held 
                        in public trust, for the betterment of the 
                        conditions of Native Hawaiians, as that term is 
                        defined in section 201 of the Hawaiian Homes 
                        Commission Act, 1920 (42 Stat. 108 et seq.); 
                        and
                            (ii) by transferring the United States 
                        responsibility for the administration of 
                        Hawaiian Home Lands to the State of Hawaii, but 
                        retaining the authority to enforce the trust, 
                        including the exclusive right of the United 
                        States to consent to any actions affecting the 
                        lands which comprise the corpus of the trust 
                        and any amendments to the Hawaiian Homes 
                        Commission Act, 1920 (42 Stat. 108 et seq.), 
                        enacted by the legislature of the State of 
                        Hawaii affecting the rights of beneficiaries 
                        under the Act;
                    (C) the authorization of mortgage loans insured by 
                the Federal Housing Administration for the purchase, 
                construction, or refinancing of homes on Hawaiian Home 
                Lands under the National Housing Act (Public Law 479; 
                73d Congress; 12 U.S.C. 1701 et seq.);
                    (D) authorizing Native Hawaiian representation on 
                the National Commission on American Indian, Alaska 
                Native, and Native Hawaiian Housing under Public Law 
                101-235;
                    (E) the inclusion of Native Hawaiians in the 
                definition under section 3764 of title 38, United 
                States Code, applicable to subchapter V of chapter 37 
                of title 38, United States Code (relating to a housing 
                loan program for Native American veterans); and
                    (F) the enactment of the Hawaiian Home Lands 
                Recovery Act (109 Stat. 357; 48 U.S.C. 491, note prec.) 
                which establishes a process for the conveyance of 
                Federal lands to the Department of Hawaiian Homes Lands 
                that are equivalent in value to lands acquired by the 
                United States from the Hawaiian Home Lands inventory.

SEC. 513. HOUSING ASSISTANCE.

    The Native American Housing Assistance and Self-Determination Act 
of 1996 (25 U.S.C. 4101 et seq.) is amended by adding at the end the 
following:

         ``TITLE VIII--HOUSING ASSISTANCE FOR NATIVE HAWAIIANS

``SEC. 801. DEFINITIONS.

    ``In this title:
            ``(1) Department of hawaiian home lands; department.--The 
        term `Department of Hawaiian Home Lands' or `Department' means 
        the agency or department of the government of the State of 
        Hawaii that is responsible for the administration of the 
        Hawaiian Homes Commission Act, 1920 (42 Stat. 108 et seq.).
            ``(2) Director.--The term `Director' means the Director of 
        the Department of Hawaiian Home Lands.
            ``(3) Elderly families; near-elderly families.--
                    ``(A) In general.--The term `elderly family' or 
                `near-elderly family' means a family whose head (or his 
                or her spouse), or whose sole member, is--
                            ``(i) for an elderly family, an elderly 
                        person; or
                            ``(ii) for a near-elderly family, a near-
                        elderly person.
                    ``(B) Certain families included.--The term `elderly 
                family' or `near-elderly family' includes--
                            ``(i) two or more elderly persons or near-
                        elderly persons, as the case may be, living 
                        together; and
                            ``(ii) one or more persons described in 
                        clause (i) living with one or more persons 
                        determined under the housing plan to be 
                        essential to their care or well-being.
            ``(4) Hawaiian home lands.--The term `Hawaiian Home Lands' 
        means lands that--
                    ``(A) have the status as Hawaiian home lands under 
                section 204 of the Hawaiian Homes Commission Act, 
                1920(42 Stat. 110); or
                    ``(B) are acquired pursuant to that Act.
            ``(5) Housing area.--The term `housing area' means an area 
        of Hawaiian Home Lands with respect to which the Department of 
        Hawaiian Home Lands is authorized to provide assistance for 
        affordable housing under this Act.
            ``(6) Housing entity.--The term `housing entity' means the 
        Department of Hawaiian Home Lands.
            ``(7) Housing plan.--The term `housing plan' means a plan 
        developed by the Department of Hawaiian Home Lands.
            ``(8) Median income.--The term `median income' means, with 
        respect to an area that is a Hawaiian housing area, the greater 
        of--
                    ``(A) the median income for the Hawaiian housing 
                area, which shall be determined by the Secretary; or
                    ``(B) the median income for the State of Hawaii.
            ``(9) Native hawaiian.--The term `Native Hawaiian' means 
        any individual who is--
                    ``(A) a citizen of the United States; and
                    ``(B) a descendant of the aboriginal people, who, 
                prior to 1778, occupied and exercised sovereignty in 
                the area that currently constitutes the State of 
                Hawaii, as evidenced by--
                            ``(i) genealogical records;
                            ``(ii) verification by kupuna (elders) or 
                        kama'aina (long-term community residents); or
                            ``(iii) birth records of the State of 
                        Hawaii.

``SEC. 802. BLOCK GRANTS FOR AFFORDABLE HOUSING 
              ACTIVITIES.

    ``(a) Grant Authority.--For each fiscal year, the Secretary shall 
(to the extent amounts are made available to carry out this title) make 
a grant under this title to the Department of Hawaiian Home Lands to 
carry out affordable housing activities for Native Hawaiian families 
who are eligible to reside on the Hawaiian Home Lands.
    ``(b) Plan Requirement.--
            ``(1) In general.--The Secretary may make a grant under 
        this title to the Department of Hawaiian Home Lands for a 
        fiscal year only if--
                    ``(A) the Director has submitted to the Secretary a 
                housing plan for that fiscal year; and
                    ``(B) the Secretary has determined under section 
                804 that the housing plan complies with the 
                requirements of section 803.
            ``(2) Waiver.--The Secretary may waive the applicability of 
        the requirements under paragraph (1), in part, if the Secretary 
        finds that the Department of Hawaiian Home Lands has not 
        complied or cannot comply with those requirements due to 
        circumstances beyond the control of the Department of Hawaiian 
        Home Lands.
    ``(c) Use of Affordable Housing Activities Under Plan.--Except as 
provided in subsection (e), amounts provided under a grant under this 
section may be used only for affordable housing activities under this 
title that are consistent with a housing plan approved under section 
804.
    ``(d) Administrative Expenses.--
            ``(1) In general.--The Secretary shall, by regulation, 
        authorize the Department of Hawaiian Home Lands to use a 
        percentage of any grant amounts received under this title for 
        any reasonable administrative and planning expenses of the 
        Department relating to carrying out this title and activities 
        assisted with those amounts.
            ``(2) Administrative and planning expenses.--The 
        administrative and planning expenses referred to in paragraph 
        (1) include--
                    ``(A) costs for salaries of individuals engaged in 
                administering and managing affordable housing 
                activities assisted with grant amounts provided under 
                this title; and
                    ``(B) expenses incurred in preparing a housing plan 
                under section 803.
    ``(e) Public-Private Partnerships.--The Director shall make all 
reasonable efforts, consistent with the purposes of this title, to 
maximize participation by the private sector, including nonprofit 
organizations and for-profit entities, in implementing a housing plan 
that has been approved by the Secretary under section 803.

``SEC. 803. HOUSING PLAN.

    ``(a) Plan Submission.--The Secretary shall--
            ``(1) require the Director to submit a housing plan under 
        this section for each fiscal year; and
            ``(2) provide for the review of each plan submitted under 
        paragraph (1).
    ``(b) Five-Year Plan.--Each housing plan under this section shall--
            ``(1) be in a form prescribed by the Secretary; and
            ``(2) contain, with respect to the 5-year period beginning 
        with the fiscal year for which the plan is submitted, the 
        following information:
                    ``(A) Mission statement.--A general statement of 
                the mission of the Department of Hawaiian Home Lands to 
                serve the needs of the low-income families to be served 
                by the Department.
                    ``(B) Goal and objectives.--A statement of the 
                goals and objectives of the Department of Hawaiian Home 
                Lands to enable the Department to serve the needs 
                identified in subparagraph (A) during the period.
                    ``(C) Activities plans.--An overview of the 
                activities planned during the period including an 
                analysis of the manner in which the activities will 
                enable the Department to meet its mission, goals, and 
                objectives.
    ``(c) One-Year Plan.--A housing plan under this section shall--
            ``(1) be in a form prescribed by the Secretary; and
            ``(2) contain the following information relating to the 
        fiscal year for which the assistance under this title is to be 
        made available:
                    ``(A) Goals and objectives.--A statement of the 
                goals and objectives to be accomplished during the 
                period covered by the plan.
                    ``(B) Statement of needs.--A statement of the 
                housing needs of the low-income families served by the 
                Department and the means by which those needs will be 
                addressed during the period covered by the plan, 
                including--
                            ``(i) a description of the estimated 
                        housing needs and the need for assistance for 
                        the low-income families to be served by the 
                        Department, including a description of the 
                        manner in which the geographical distribution 
                        of assistance is consistent with--
                                    ``(I) the geographical needs of 
                                those families; and
                                    ``(II) needs for various categories 
                                of housing assistance; and
                            ``(ii) a description of the estimated 
                        housing needs for all families to be served by 
                        the Department.
                    ``(C) Financial resources.--An operating budget for 
                the Department of Hawaiian Home Lands, in a form 
                prescribed by the Secretary, that includes--
                            ``(i) an identification and a description 
                        of the financial resources reasonably available 
                        to the Department to carry out the purposes of 
                        this title, including an explanation of the 
                        manner in which amounts made available will be 
                        used to leverage additional resources; and
                            ``(ii) the uses to which the resources 
                        described in clause (i) will be committed, 
                        including--
                                    ``(I) eligible and required 
                                affordable housing activities; and
                                    ``(II) administrative expenses.
                    ``(D) Affordable housing resources.--A statement of 
                the affordable housing resources currently available at 
                the time of the submittal of the plan and to be made 
                available during the period covered by the plan, 
                including--
                            ``(i) a description of the significant 
                        characteristics of the housing market in the 
                        State of Hawaii, including the availability of 
                        housing from other public sources, private 
                        market housing;
                            ``(ii) the manner in which the 
                        characteristics referred to in clause (i) 
                        influence the decision of the Department of 
                        Hawaiian Home Lands to use grant amounts to be 
                        provided under this title for--
                                    ``(I) rental assistance;
                                    ``(II) the production of new units;
                                    ``(III) the acquisition of existing 
                                units; or
                                    ``(IV) the rehabilitation of units;
                            ``(iii) a description of the structure, 
                        coordination, and means of cooperation between 
                        the Department of Hawaiian Home Lands and any 
                        other governmental entities in the development, 
                        submission, or implementation of housing plans, 
                        including a description of--
                                    ``(I) the involvement of private, 
                                public, and nonprofit organizations and 
                                institutions;
                                    ``(II) the use of loan guarantees 
                                under section 184A of the Housing and 
                                Community Development Act of 1992; and
                                    ``(III) other housing assistance 
                                provided by the United States, 
                                including loans, grants, and mortgage 
                                insurance;
                            ``(iv) a description of the manner in which 
                        the plan will address the needs identified 
                        pursuant to subparagraph (C);
                            ``(v) a description of--
                                    ``(I) any existing or anticipated 
                                homeownership programs and rental 
                                programs to be carried out during the 
                                period covered by the plan; and
                                    ``(II) the requirements and 
                                assistance available under the programs 
                                referred to in subclause (I);
                            ``(vi) a description of--
                                    ``(I) any existing or anticipated 
                                housing rehabilitation programs 
                                necessary to ensure the long-term 
                                viability of the housing to be carried 
                                out during the period covered by the 
                                plan; and
                                    ``(II) the requirements and 
                                assistance available under the programs 
                                referred to in subclause (I);
                            ``(vii) a description of--
                                    ``(I) all other existing or 
                                anticipated housing assistance provided 
                                by the Department of Hawaiian Home 
                                Lands during the period covered by the 
                                plan, including--
                                            ``(aa) transitional 
                                        housing;
                                            ``(bb) homeless housing;
                                            ``(cc) college housing; and
                                            ``(dd) supportive services 
                                        housing; and
                                    ``(II) the requirements and 
                                assistance available under such 
                                programs;
                            ``(viii)(I) a description of any housing to 
                        be demolished or disposed of;
                            ``(II) a timetable for that demolition or 
                        disposition; and
                            ``(III) any other information required by 
                        the Secretary with respect to that demolition 
                        or disposition;
                            ``(ix) a description of the manner in which 
                        the Department of Hawaiian Home Lands will 
                        coordinate with welfare agencies in the State 
                        of Hawaii to ensure that residents of the 
                        affordable housing will be provided with access 
                        to resources to assist in obtaining employment 
                        and achieving self-sufficiency;
                            ``(x) a description of the requirements 
                        established by the Department of Hawaiian Home 
                        Lands to--
                                    ``(I) promote the safety of 
                                residents of the affordable housing;
                                    ``(II) facilitate the undertaking 
                                of crime prevention measures;
                                    ``(III) allow resident input and 
                                involvement, including the 
                                establishment of resident 
                                organizations; and
                                    ``(IV) allow for the coordination 
                                of crime prevention activities between 
                                the Department and local law 
                                enforcement officials; and
                            ``(xi) a description of the entities that 
                        will carry out the activities under the plan, 
                        including the organizational capacity and key 
                        personnel of the entities.
                    ``(E) Certification of compliance.--Evidence of 
                compliance that shall include, as appropriate--
                            ``(i) a certification that the Department 
                        of Hawaiian Home Lands will comply with--
                                    ``(I) title VI of the Civil Rights 
                                Act of 1964 (42 U.S.C. 2000d et seq.) 
                                or with the Fair Housing Act (42 U.S.C. 
                                3601 et seq.) in carrying out this 
                                title, to the extent that such title is 
                                applicable; and
                                    ``(II) other applicable Federal 
                                statutes;
                            ``(ii) a certification that the Department 
                        will require adequate insurance coverage for 
                        housing units that are owned and operated or 
                        assisted with grant amounts provided under this 
                        title, in compliance with such requirements as 
                        may be established by the Secretary;
                            ``(iii) a certification that policies are 
                        in effect and are available for review by the 
                        Secretary and the public governing the 
                        eligibility, admission, and occupancy of 
                        families for housing assisted with grant 
                        amounts provided under this title;
                            ``(iv) a certification that policies are in 
                        effect and are available for review by the 
                        Secretary and the public governing rents 
                        charged, including the methods by which such 
                        rents or homebuyer payments are determined, for 
                        housing assisted with grant amounts provided 
                        under this title; and
                            ``(v) a certification that policies are in 
                        effect and are available for review by the 
                        Secretary and the public governing the 
                        management and maintenance of housing assisted 
                        with grant amounts provided under this title.
    ``(d) Applicability of Civil Rights Statutes.--
            ``(1) In general.--To the extent that the requirements of 
        title VI of the Civil Rights Act of 1964 (42 U.S.C. 2000d et 
        seq.) or of the Fair Housing Act (42 U.S.C. 3601 et seq.) apply 
        to assistance provided under this title, nothing in the 
        requirements concerning discrimination on the basis of race 
        shall be construed to prevent the provision of assistance under 
        this title--
                    ``(A) to the Department of Hawaiian Home Lands on 
                the basis that the Department served Native Hawaiians; 
                or
                    ``(B) to an eligible family on the basis that the 
                family is a Native Hawaiian family.
            ``(2) Civil rights.--Program eligibility under this title 
        may be restricted to Native Hawaiians. Subject to the preceding 
        sentence, no person may be discriminated against on the basis 
        of race, color, national origin, religion, sex, familial 
        status, or disability.
    ``(e) Use of Nonprofit Organizations.--As a condition of receiving 
grant amounts under this title, the Department of Hawaiian Home Lands 
shall, to the extent practicable, provide for private nonprofit 
organizations experienced in the planning and development of affordable 
housing for Native Hawaiians to carry out affordable housing activities 
with those grant amounts.

``SEC. 804. REVIEW OF PLANS.

    ``(a) Review and Notice.--
            ``(1) Review.--
                    ``(A) In general.--The Secretary shall conduct a 
                review of a housing plan submitted to the Secretary 
                under section 803 to ensure that the plan complies with 
                the requirements of that section.
                    ``(B) Limitation.--The Secretary shall have the 
                discretion to review a plan referred to in subparagraph 
                (A) only to the extent that the Secretary considers 
                that the review is necessary.
            ``(2) Notice.--
                    ``(A) In general.--Not later than 60 days after 
                receiving a plan under section 803, the Secretary shall 
                notify the Director of the Department of Hawaiian Home 
                Lands whether the plan complies with the requirements 
                under that section.
                    ``(B) Effect of failure of secretary to take 
                action.--For purposes of this title, if the Secretary 
                does not notify the Director, as required under this 
                subsection and subsection (b), upon the expiration of 
                the 60-day period described in subparagraph (A)--
                            ``(i) the plan shall be considered to have 
                        been determined to comply with the requirements 
                        under section 803; and
                            ``(ii) the Director shall be considered to 
                        have been notified of compliance.
    ``(b) Notice of Reasons for Determination of Noncompliance.--If the 
Secretary determines that a plan submitted under section 803 does not 
comply with the requirements of that section, the Secretary shall 
specify in the notice under subsection (a)--
            ``(1) the reasons for noncompliance; and
            ``(2) any modifications necessary for the plan to meet the 
        requirements of section 803.
    ``(c) Review.--
            ``(1) In general.--After the Director of the Department of 
        Hawaiian Home Lands submits a housing plan under section 803, 
        or any amendment or modification to the plan to the Secretary, 
        to the extent that the Secretary considers such action to be 
        necessary to make a determination under this subsection, the 
        Secretary shall review the plan (including any amendments or 
        modifications thereto) to determine whether the contents of the 
        plan--
                    ``(A) set forth the information required by section 
                803 to be contained in the housing plan;
                    ``(B) are consistent with information and data 
                available to the Secretary; and
                    ``(C) are not prohibited by or inconsistent with 
                any provision of this Act or any other applicable law.
            ``(2) Incomplete plans.--If the Secretary determines under 
        this subsection that any of the appropriate certifications 
        required under section 803(c)(2)(E) are not included in a plan, 
        the plan shall be considered to be incomplete.
    ``(d) Updates to Plan.--
            ``(1) In general.--Subject to paragraph (2), after a plan 
        under section 803 has been submitted for a fiscal year, the 
        Director of the Department of Hawaiian Home Lands may comply 
        with the provisions of that section for any succeeding fiscal 
        year (with respect to information included for the 5-year 
        period under section 803(b) or for the 1-year period under 
        section 803(c)) by submitting only such information regarding 
        such changes as may be necessary to update the plan previously 
        submitted.
            ``(2) Complete plans.--The Director shall submit a complete 
        plan under section 803 not later than 4 years after submitting 
        an initial plan under that section, and not less frequently 
        than every 4 years thereafter.
    ``(e) Effective Date.--This section and section 803 shall take 
effect on the date provided by the Secretary pursuant to section 807(a) 
to provide for timely submission and review of the housing plan as 
necessary for the provision of assistance under this title for fiscal 
year 2001.

``SEC. 805. TREATMENT OF PROGRAM INCOME AND LABOR STANDARDS.

    ``(a) Program Income.--
            ``(1) Authority to retain.--The Department of Hawaiian Home 
        Lands may retain any program income that is realized from any 
        grant amounts received by the Department under this title if--
                    ``(A) that income was realized after the initial 
                disbursement of the grant amounts received by the 
                Department; and
                    ``(B) the Director agrees to use the program income 
                for affordable housing activities in accordance with 
                the provisions of this title.
            ``(2) Prohibition of reduction of grant.--The Secretary may 
        not reduce the grant amount for the Department of Hawaiian Home 
        Lands based solely on--
                    ``(A) whether the Department retains program income 
                under paragraph (1); or
                    ``(B) the amount of any such program income 
                retained.
            ``(3) Exclusion of amounts.--The Secretary may, by 
        regulation, exclude from consideration as program income any 
        amounts determined to be so small that compliance with the 
        requirements of this subsection would create an unreasonable 
        administrative burden on the Department.
    ``(b) Labor Standards.--
            ``(1) In general.--Any contract or agreement for 
        assistance, sale, or lease pursuant to this title shall 
        contain--
                    ``(A) a provision requiring that an amount not less 
                than the wages prevailing in the locality, as 
                determined or adopted (subsequent to a determination 
                under applicable State or local law) by the Secretary, 
                shall be paid to all architects, technical engineers, 
                draftsmen, technicians employed in the development and 
                all maintenance, and laborers and mechanics employed in 
                the operation, of the affordable housing project 
                involved; and
                    ``(B) a provision that an amount not less than the 
                wages prevailing in the locality, as predetermined by 
                the Secretary of Labor pursuant to the Act commonly 
                known as the `Davis-Bacon Act' (46 Stat. 1494; chapter 
                411; 40 U.S.C. 276a et seq.) shall be paid to all 
                laborers and mechanics employed in the development of 
                the affordable housing involved.
            ``(2) Exceptions.--Paragraph (1) and provisions relating to 
        wages required under paragraph (1) in any contract or agreement 
        for assistance, sale, or lease under this title, shall not 
        apply to any individual who performs the services for which the 
        individual volunteered and who is not otherwise employed at any 
        time in the construction work and received no compensation or 
        is paid expenses, reasonable benefits, or a nominal fee for 
        those services.

``SEC. 806. ENVIRONMENTAL REVIEW.

    ``(a) In General.--
            ``(1) Release of funds.--
                    ``(A) In general.--The Secretary may carry out the 
                alternative environmental protection procedures 
                described in subparagraph (B) in order to ensure--
                            ``(i) that the policies of 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 (as specified 
                        in regulations issued by the Secretary) are 
                        most effectively implemented in connection with 
                        the expenditure of grant amounts provided under 
                        this title; and
                            ``(ii) to the public undiminished 
                        protection of the environment.
                    ``(B) Alternative environmental protection 
                procedure.--In lieu of applying environmental 
                protection procedures otherwise applicable, the 
                Secretary may by regulation provide for the release of 
                funds for specific projects to the Department of 
                Hawaiian Home Lands if the Director of the Department 
                assumes all of the responsibilities for environmental 
                review, decisionmaking, and action under the National 
                Environmental Policy Act of 1969 (42 U.S.C. 4321 et 
                seq.), and such other provisions of law as the 
                regulations of the Secretary specify, that would apply 
                to the Secretary were the Secretary to undertake those 
                projects as Federal projects.
            ``(2) Regulations.--
                    ``(A) In general.--The Secretary shall issue 
                regulations to carry out this section only after 
                consultation with the Council on Environmental Quality.
                    ``(B) Contents.--The regulations issued under this 
                paragraph shall--
                            ``(i) provide for the monitoring of the 
                        environmental reviews performed under this 
                        section;
                            ``(ii) in the discretion of the Secretary, 
                        facilitate training for the performance of such 
                        reviews; and
                            ``(iii) provide for the suspension or 
                        termination of the assumption of 
                        responsibilities under this section.
            ``(3) Effect on assumed responsibility.--The duty of the 
        Secretary under paragraph (2)(B) shall not be construed to 
        limit or reduce any responsibility assumed by the Department of 
        Hawaiian Home Lands for grant amounts with respect to any 
        specific release of funds.
    ``(b) Procedure.--
            ``(1) In general.--The Secretary shall authorize the 
        release of funds subject to the procedures under this section 
        only if, not less than 15 days before that approval and before 
        any commitment of funds to such projects, the Director of the 
        Department of Hawaiian Home Lands submits to the Secretary a 
        request for such release accompanied by a certification that 
        meets the requirements of subsection (c).
            ``(2) Effect of approval.--The approval of the Secretary of 
        a certification described in paragraph (1) shall be deemed to 
        satisfy the responsibilities of the Secretary under the 
        National Environmental Policy Act of 1969 (42 U.S.C. 4321 et 
        seq.) and such other provisions of law as the regulations of 
        the Secretary specify to the extent that those responsibilities 
        relate to the releases of funds for projects that are covered 
        by that certification.
    ``(c) Certification.--A certification under the procedures under 
this section shall--
            ``(1) be in a form acceptable to the Secretary;
            ``(2) be executed by the Director of the Department of 
        Hawaiian Home Lands;
            ``(3) specify that the Department of Hawaiian Home Lands 
        has fully carried out its responsibilities as described under 
        subsection (a); and
            ``(4) specify that the Director--
                    ``(A) consents to assume the status of a 
                responsible Federal official under the National 
                Environmental Policy Act of 1969 (42 U.S.C. 4321 et 
                seq.) and each provision of law specified in 
                regulations issued by the Secretary to the extent that 
                those laws apply by reason of subsection (a); and
                    ``(B) is authorized and consents on behalf of the 
                Department of Hawaiian Home Lands and the Director to 
                accept the jurisdiction of the Federal courts for the 
                purpose of enforcement of the responsibilities of the 
                Director of the Department of Hawaiian Home Lands as 
                such an official.

``SEC. 807. REGULATIONS.

    ``The Secretary shall issue final regulations necessary to carry 
out this title not later than October 1, 2001.

``SEC. 808. EFFECTIVE DATE.

    ``Except as otherwise expressly provided in this title, this title 
shall take effect on the date of the enactment of the American 
Homeownership and Economic Opportunity Act of 2000.

``SEC. 809. AFFORDABLE HOUSING ACTIVITIES.

    ``(a) National Objectives and Eligible Families.--
            ``(1) Primary objective.--The national objectives of this 
        title are--
                    ``(A) to assist and promote affordable housing 
                activities to develop, maintain, and operate affordable 
                housing in safe and healthy environments for occupancy 
                by low-income Native Hawaiian families;
                    ``(B) to ensure better access to private mortgage 
                markets and to promote self-sufficiency of low-income 
                Native Hawaiian families;
                    ``(C) to coordinate activities to provide housing 
                for low-income Native Hawaiian families with Federal, 
                State and local activities to further economic and 
                community development;
                    ``(D) to plan for and integrate infrastructure 
                resources on the Hawaiian Home Lands with housing 
                development; and
                    ``(E) to--
                            ``(i) promote the development of private 
                        capital markets; and
                            ``(ii) allow the markets referred to in 
                        clause (i) to operate and grow, thereby 
                        benefiting Native Hawaiian communities.
            ``(2) Eligible families.--
                    ``(A) In general.--Except as provided under 
                subparagraph (B), assistance for eligible housing 
                activities under this title shall be limited to low-
                income Native Hawaiian families.
                    ``(B) Exception to low-income requirement.--
                            ``(i) In general.--The Director may provide 
                        assistance for homeownership activities under--
                                    ``(I) section 810(b);
                                    ``(II) model activities under 
                                section 810(f); or
                                    ``(III) loan guarantee activities 
                                under section 184A of the Housing and 
                                Community Development Act of 1992 to 
                                Native Hawaiian families who are not 
                                low-income families, to the extent that 
                                the Secretary approves the activities 
                                under that section to address a need 
                                for housing for those families that 
                                cannot be reasonably met without that 
                                assistance.
                            ``(ii) Limitations.--The Secretary shall 
                        establish limitations on the amount of 
                        assistance that may be provided under this 
                        title for activities for families that are not 
                        low-income families.
                    ``(C) Other families.--Notwithstanding paragraph 
                (1), the Director may provide housing or housing 
                assistance provided through affordable housing 
                activities assisted with grant amounts under this title 
                to a family that is not composed of Native Hawaiians 
                if--
                            ``(i) the Department determines that the 
                        presence of the family in the housing involved 
                        is essential to the well-being of Native 
                        Hawaiian families; and
                            ``(ii) the need for housing for the family 
                        cannot be reasonably met without the 
                        assistance.
                    ``(D) Preference.--
                            ``(i) In general.--A housing plan submitted 
                        under section 803 may authorize a preference, 
                        for housing or housing assistance provided 
                        through affordable housing activities assisted 
                        with grant amounts provided under this title to 
                        be provided, to the extent practicable, to 
                        families that are eligible to reside on the 
                        Hawaiian Home Lands.
                            ``(ii) Application.--In any case in which a 
                        housing plan provides for preference described 
                        in clause (i), the Director shall ensure that 
                        housing activities that are assisted with grant 
                        amounts under this title are subject to that 
                        preference.
                    ``(E) Use of nonprofit organizations.--As a 
                condition of receiving grant amounts under this title, 
                the Department of Hawaiian Home Lands, shall to the 
                extent practicable, provide for private nonprofit 
                organizations experienced in the planning and 
                development of affordable housing for Native Hawaiians 
                to carry out affordable housing activities with those 
                grant amounts.

``SEC. 810. ELIGIBLE AFFORDABLE HOUSING ACTIVITIES.

    ``(a) In General.--Affordable housing activities under this section 
are activities conducted in accordance with the requirements of section 
811 to--
            ``(1) develop or to support affordable housing for rental 
        or homeownership; or
            ``(2) provide housing services with respect to affordable 
        housing, through the activities described in subsection (b).
    ``(b) Activities.--The activities described in this subsection are 
the following:
            ``(1) Development.--The acquisition, new construction, 
        reconstruction, or moderate or substantial rehabilitation of 
        affordable housing, which may include--
                    ``(A) real property acquisition;
                    ``(B) site improvement;
                    ``(C) the development of utilities and utility 
                services;
                    ``(D) conversion;
                    ``(E) demolition;
                    ``(F) financing;
                    ``(G) administration and planning; and
                    ``(H) other related activities.
            ``(2) Housing services.--The provision of housing-related 
        services for affordable housing, including--
                    ``(A) housing counseling in connection with rental 
                or homeownership assistance;
                    ``(B) the establishment and support of resident 
                organizations and resident management corporations;
                    ``(C) energy auditing;
                    ``(D) activities related to the provisions of self-
                sufficiency and other services; and
                    ``(E) other services related to assisting owners, 
                tenants, contractors, and other entities participating 
                or seeking to participate in other housing activities 
                assisted pursuant to this section.
            ``(3) Housing management services.--The provision of 
        management services for affordable housing, including--
                    ``(A) the preparation of work specifications;
                    ``(B) loan processing;
                    ``(C) inspections;
                    ``(D) tenant selection;
                    ``(E) management of tenant-based rental assistance; 
                and
                    ``(F) management of affordable housing projects.
            ``(4) Crime prevention and safety activities.--The 
        provision of safety, security, and law enforcement measures and 
        activities appropriate to protect residents of affordable 
        housing from crime.
            ``(5) Model activities.--Housing activities under model 
        programs that are--
                    ``(A) designed to carry out the purposes of this 
                title; and
                    ``(B) specifically approved by the Secretary as 
                appropriate for the purpose referred to in subparagraph 
                (A).

``SEC. 811. PROGRAM REQUIREMENTS.

    ``(a) Rents.--
            ``(1) Establishment.--Subject to paragraph (2), as a 
        condition to receiving grant amounts under this title, the 
        Director shall develop written policies governing rents and 
        homebuyer payments charged for dwelling units assisted under 
        this title, including methods by which such rents and homebuyer 
        payments are determined.
            ``(2) Maximum rent.--In the case of any low-income family 
        residing in a dwelling unit assisted with grant amounts under 
        this title, the monthly rent or homebuyer payment (as 
        applicable) for that dwelling unit may not exceed 30 percent of 
        the monthly adjusted income of that family.
    ``(b) Maintenance and Efficient Operation.--
            ``(1) In general.--The Director shall, using amounts of any 
        grants received under this title, reserve and use for operating 
        under section 810 such amounts as may be necessary to provide 
        for the continued maintenance and efficient operation of such 
        housing.
            ``(2) Disposal of certain housing.--This subsection may not 
        be construed to prevent the Director, or any entity funded by 
        the Department, from demolishing or disposing of housing, 
        pursuant to regulations established by the Secretary.
    ``(c) Insurance Coverage.--As a condition to receiving grant 
amounts under this title, the Director shall require adequate insurance 
coverage for housing units that are owned or operated or assisted with 
grant amounts provided under this title.
    ``(d) Eligibility for Admission.--As a condition to receiving grant 
amounts under this title, the Director shall develop written policies 
governing the eligibility, admission, and occupancy of families for 
housing assisted with grant amounts provided under this title.
    ``(e) Management and Maintenance.--As a condition to receiving 
grant amounts under this title, the Director shall develop policies 
governing the management and maintenance of housing assisted with grant 
amounts under this title.

``SEC. 812. TYPES OF INVESTMENTS.

    ``(a) In General.--Subject to section 811 and an applicable housing 
plan approved under section 803, the Director shall have--
            ``(1) the discretion to use grant amounts for affordable 
        housing activities through the use of--
                    ``(A) equity investments;
                    ``(B) interest-bearing loans or advances;
                    ``(C) noninterest-bearing loans or advances;
                    ``(D) interest subsidies;
                    ``(E) the leveraging of private investments; or
                    ``(F) any other form of assistance that the 
                Secretary determines to be consistent with the purposes 
                of this title; and
            ``(2) the right to establish the terms of assistance 
        provided with funds referred to in paragraph (1).
    ``(b) Investments.--The Director may invest grant amounts for the 
purposes of carrying out affordable housing activities in investment 
securities and other obligations, as approved by the Secretary.

``SEC. 813. LOW-INCOME REQUIREMENT AND INCOME TARGETING.

    ``(a) In General.--Housing shall qualify for affordable housing for 
purposes of this title only if--
            ``(1) each dwelling unit in the housing--
                    ``(A) in the case of rental housing, is made 
                available for occupancy only by a family that is a low-
                income family at the time of the initial occupancy of 
                that family of that unit; and
                    ``(B) in the case of housing for homeownership, is 
                made available for purchase only by a family that is a 
                low-income family at the time of purchase; and
            ``(2) each dwelling unit in the housing will remain 
        affordable, according to binding commitments satisfactory to 
        the Secretary, for--
                    ``(A) the remaining useful life of the property (as 
                determined by the Secretary) without regard to the term 
                of the mortgage or to transfer of ownership; or
                    ``(B) such other period as the Secretary determines 
                is the longest feasible period of time consistent with 
                sound economics and the purposes of this title, except 
                upon a foreclosure by a lender (or upon other transfer 
                in lieu of foreclosure) if that action--
                            ``(i) recognizes any contractual or legal 
                        rights of any public agency, nonprofit sponsor, 
                        or other person or entity to take an action 
                        that would--
                                    ``(I) avoid termination of low-
                                income affordability, in the case of 
                                foreclosure; or
                                    ``(II) transfer ownership in lieu 
                                of foreclosure; and
                            ``(ii) is not for the purpose of avoiding 
                        low-income affordability restrictions, as 
                        determined by the Secretary.
    ``(b) Exception.--Notwithstanding subsection (a), housing assisted 
pursuant to section 809(a)(2)(B) shall be considered affordable housing 
for purposes of this title.

``SEC. 814. LEASE REQUIREMENTS AND TENANT SELECTION.

    ``(a) Leases.--Except to the extent otherwise provided by or 
inconsistent with the laws of the State of Hawaii, in renting dwelling 
units in affordable housing assisted with grant amounts provided under 
this title, the Director, owner, or manager shall use leases that--
            ``(1) do not contain unreasonable terms and conditions;
            ``(2) require the Director, owner, or manager to maintain 
        the housing in compliance with applicable housing codes and 
        quality standards;
            ``(3) require the Director, owner, or manager to give 
        adequate written notice of termination of the lease, which 
        shall be the period of time required under applicable State or 
        local law;
            ``(4) specify that, with respect to any notice of eviction 
        or termination, notwithstanding any State or local law, a 
        resident shall be informed of the opportunity, before any 
        hearing or trial, to examine any relevant documents, record, or 
        regulations directly related to the eviction or termination;
            ``(5) require that the Director, owner, or manager may not 
        terminate the tenancy, during the term of the lease, except for 
        serious or repeated violation of the terms and conditions of 
        the lease, violation of applicable Federal, State, or local 
        law, or for other good cause; and
            ``(6) provide that the Director, owner, or manager may 
        terminate the tenancy of a resident for any activity, engaged 
        in by the resident, any member of the household of the 
        resident, or any guest or other person under the control of the 
        resident, that--
                    ``(A) threatens the health or safety of, or right 
                to peaceful enjoyment of the premises by, other 
                residents or employees of the Department, owner, or 
                manager;
                    ``(B) threatens the health or safety of, or right 
                to peaceful enjoyment of their premises by, persons 
                residing in the immediate vicinity of the premises; or
                    ``(C) is criminal activity (including drug-related 
                criminal activity) on or off the premises.
    ``(b) Tenant or Homebuyer Selection.--As a condition to receiving 
grant amounts under this title, the Director shall adopt and use 
written tenant and homebuyer selection policies and criteria that--
            ``(1) are consistent with the purpose of providing housing 
        for low-income families;
            ``(2) are reasonably related to program eligibility and the 
        ability of the applicant to perform the obligations of the 
        lease; and
            ``(3) provide for--
                    ``(A) the selection of tenants and homebuyers from 
                a written waiting list in accordance with the policies 
                and goals set forth in an applicable housing plan 
                approved under section 803; and
                    ``(B) the prompt notification in writing of any 
                rejected applicant of the grounds for that rejection.

``SEC. 815. REPAYMENT.

    ``If the Department of Hawaiian Home Lands uses grant amounts to 
provide affordable housing under activities under this title and, at 
any time during the useful life of the housing, the housing does not 
comply with the requirement under section 813(a)(2), the Secretary 
shall--
            ``(1) reduce future grant payments on behalf of the 
        Department by an amount equal to the grant amounts used for 
        that housing (under the authority of section 819(a)(2)); or
            ``(2) require repayment to the Secretary of any amount 
        equal to those grant amounts.

``SEC. 816. ANNUAL ALLOCATION.

    ``For each fiscal year, the Secretary shall allocate any amounts 
made available for assistance under this title for the fiscal year, in 
accordance with the formula established pursuant to section 817 to the 
Department of Hawaiian Home Lands if the Department complies with the 
requirements under this title for a grant under this title.

``SEC. 817. ALLOCATION FORMULA.

    ``(a) Establishment.--The Secretary shall, by regulation issued not 
later than the expiration of the 6-month period beginning on the date 
of the enactment of the American Homeownership and Economic Opportunity 
Act of 2000, in the manner provided under section 807, establish a 
formula to provide for the allocation of amounts available for a fiscal 
year for block grants under this title in accordance with the 
requirements of this section.
    ``(b) Factors for Determination of Need.--The formula under 
subsection (a) shall be based on factors that reflect the needs for 
assistance for affordable housing activities, including--
            ``(1) the number of low-income dwelling units owned or 
        operated at the time pursuant to a contract between the 
        Director and the Secretary;
            ``(2) the extent of poverty and economic distress and the 
        number of Native Hawaiian families eligible to reside on the 
        Hawaiian Home Lands; and
            ``(3) any other objectively measurable conditions that the 
        Secretary and the Director may specify.
    ``(c) Other Factors for Consideration.--In establishing the formula 
under subsection (a), the Secretary shall consider the relative 
administrative capacities of the Department of Hawaiian Home Lands and 
other challenges faced by the Department, including--
            ``(1) geographic distribution within Hawaiian Home Lands; 
        and
            ``(2) technical capacity.
    ``(d) Effective Date.--This section shall take effect on the date 
of the enactment of the American Homeownership and Economic Opportunity 
Act of 2000.

``SEC. 818. REMEDIES FOR NONCOMPLIANCE.

    ``(a) Actions by Secretary Affecting Grant Amounts.--
            ``(1) In general.--Except as provided in subsection (b), if 
        the Secretary finds after reasonable notice and opportunity for 
        a hearing that the Department of Hawaiian Home Lands has failed 
        to comply substantially with any provision of this title, the 
        Secretary shall--
                    ``(A) terminate payments under this title to the 
                Department;
                    ``(B) reduce payments under this title to the 
                Department by an amount equal to the amount of such 
                payments that were not expended in accordance with this 
                title; or
                    ``(C) limit the availability of payments under this 
                title to programs, projects, or activities not affected 
                by such failure to comply.
            ``(2) Actions.--If the Secretary takes an action under 
        subparagraph (A), (B), or (C) of paragraph (1), the Secretary 
        shall continue that action until the Secretary determines that 
        the failure by the Department to comply with the provision has 
        been remedied by the Department and the Department is in 
        compliance with that provision.
    ``(b) Noncompliance Because of a Technical Incapacity.--The 
Secretary may provide technical assistance for the Department, either 
directly or indirectly, that is designed to increase the capability and 
capacity of the Director of the Department to administer assistance 
provided under this title in compliance with the requirements under 
this title if the Secretary makes a finding under subsection (a), but 
determines that the failure of the Department to comply substantially 
with the provisions of this title--
            ``(1) is not a pattern or practice of activities 
        constituting willful noncompliance; and
            ``(2) is a result of the limited capability or capacity of 
        the Department of Hawaiian Home Lands.
    ``(c) Referral for Civil Action.--
            ``(1) Authority.--In lieu of, or in addition to, any action 
        that the Secretary may take under subsection (a), if the 
        Secretary has reason to believe that the Department of Hawaiian 
        Home Lands has failed to comply substantially with any 
        provision of this title, the Secretary may refer the matter to 
        the Attorney General of the United States with a recommendation 
        that an appropriate civil action be instituted.
            ``(2) Civil action.--Upon receiving a referral under 
        paragraph (1), the Attorney General may bring a civil action in 
        any United States district court of appropriate jurisdiction 
        for such relief as may be appropriate, including an action--
                    ``(A) to recover the amount of the assistance 
                furnished under this title that was not expended in 
                accordance with this title; or
                    ``(B) for mandatory or injunctive relief.
    ``(d) Review.--
            ``(1) In general.--If the Director receives notice under 
        subsection (a) of the termination, reduction, or limitation of 
        payments under this Act, the Director--
                    ``(A) may, not later than 60 days after receiving 
                such notice, file with the United States Court of 
                Appeals for the Ninth Circuit, or in the United States 
                Court of Appeals for the District of Columbia, a 
                petition for review of the action of the Secretary; and
                    ``(B) upon the filing of any petition under 
                subparagraph (A), shall forthwith transmit copies of 
                the petition to the Secretary and the Attorney General 
                of the United States, who shall represent the Secretary 
                in the litigation.
            ``(2) Procedure.--
                    ``(A) In general.--The Secretary shall file in the 
                court a record of the proceeding on which the Secretary 
                based the action, as provided in section 2112 of title 
                28, United States Code.
                    ``(B) Objections.--No objection to the action of 
                the Secretary shall be considered by the court unless 
                the Department has registered the objection before the 
                Secretary.
            ``(3) Disposition.--
                    ``(A) Court proceedings.--
                            ``(i) Jurisdiction of court.--The court 
                        shall have jurisdiction to affirm or modify the 
                        action of the Secretary or to set the action 
                        aside in whole or in part.
                            ``(ii) Findings of fact.--If supported by 
                        substantial evidence on the record considered 
                        as a whole, the findings of fact by the 
                        Secretary shall be conclusive.
                            ``(iii) Addition.--The court may order 
                        evidence, in addition to the evidence submitted 
                        for review under this subsection, to be taken 
                        by the Secretary, and to be made part of the 
                        record.
                    ``(B) Secretary.--
                            ``(i) In general.--The Secretary, by reason 
                        of the additional evidence referred to in 
                        subparagraph (A) and filed with the court--
                                    ``(I) may--
                                            ``(aa) modify the findings 
                                        of fact of the Secretary; or
                                            ``(bb) make new findings; 
                                        and
                                    ``(II) shall file--
                                            ``(aa) such modified or new 
                                        findings; and
                                            ``(bb) the recommendation 
                                        of the Secretary, if any, for 
                                        the modification or setting 
                                        aside of the original action of 
                                        the Secretary.
                            ``(ii) Findings.--The findings referred to 
                        in clause (i)(II)(bb) shall, with respect to a 
                        question of fact, be considered to be 
                        conclusive if those findings are--
                                    ``(I) supported by substantial 
                                evidence on the record; and
                                    ``(II) considered as a whole.
            ``(4) Finality.--
                    ``(A) In general.--Except as provided in 
                subparagraph (B), upon the filing of the record under 
                this subsection with the court--
                            ``(i) the jurisdiction of the court shall 
                        be exclusive; and
                            ``(ii) the judgment of the court shall be 
                        final.
                    ``(B) Review by supreme court.--A judgment under 
                subparagraph (A) shall be subject to review by the 
                Supreme Court of the United States upon writ of 
                certiorari or certification, as provided in section 
                1254 of title 28, United States Code.

``SEC. 819. MONITORING OF COMPLIANCE.

    ``(a) Enforceable Agreements.--
            ``(1) In general.--The Director, through binding 
        contractual agreements with owners or other authorized 
        entities, shall ensure long-term compliance with the provisions 
        of this title.
            ``(2) Measures.--The measures referred to in paragraph (1) 
        shall provide for--
                    ``(A) to the extent allowable by Federal and State 
                law, the enforcement of the provisions of this title by 
                the Department and the Secretary; and
                    ``(B) remedies for breach of the provisions 
                referred to in paragraph (1).
    ``(b) Periodic Monitoring.--
            ``(1) In general.--Not less frequently than annually, the 
        Director shall review the activities conducted and housing 
        assisted under this title to assess compliance with the 
        requirements of this title.
            ``(2) Review.--Each review under paragraph (1) shall 
        include onsite inspection of housing to determine compliance 
        with applicable requirements.
            ``(3) Results.--The results of each review under paragraph 
        (1) shall be--
                    ``(A) included in a performance report of the 
                Director submitted to the Secretary under section 820; 
                and
                    ``(B) made available to the public.
    ``(c) Performance Measures.--The Secretary shall establish such 
performance measures as may be necessary to assess compliance with the 
requirements of this title.

``SEC. 820. PERFORMANCE REPORTS.

    ``(a) Requirement.--For each fiscal year, the Director shall--
            ``(1) review the progress the Department has made during 
        that fiscal year in carrying out the housing plan submitted by 
        the Department under section 803; and
            ``(2) submit a report to the Secretary (in a form 
        acceptable to the Secretary) describing the conclusions of the 
        review.
    ``(b) Content.--Each report submitted under this section for a 
fiscal year shall--
            ``(1) describe the use of grant amounts provided to the 
        Department of Hawaiian Home Lands for that fiscal year;
            ``(2) assess the relationship of the use referred to in 
        paragraph (1) to the goals identified in the housing plan;
            ``(3) indicate the programmatic accomplishments of the 
        Department; and
            ``(4) describe the manner in which the Department would 
        change its housing plan submitted under section 803 as a result 
        of its experiences.
    ``(c) Submissions.--The Secretary shall--
            ``(1) establish a date for submission of each report under 
        this section;
            ``(2) review each such report; and
            ``(3) with respect to each such report, make 
        recommendations as the Secretary considers appropriate to carry 
        out the purposes of this title.
    ``(d) Public Availability.--
            ``(1) Comments by beneficiaries.--In preparing a report 
        under this section, the Director shall make the report publicly 
        available to the beneficiaries of the Hawaiian Homes Commission 
        Act, 1920 (42 Stat. 108 et seq.) and give a sufficient amount 
        of time to permit those beneficiaries to comment on that report 
        before it is submitted to the Secretary (in such manner and at 
        such time as the Director may determine).
            ``(2) Summary of comments.--The report shall include a 
        summary of any comments received by the Director from 
        beneficiaries under paragraph (1) regarding the program to 
        carry out the housing plan.

``SEC. 821. REVIEW AND AUDIT BY SECRETARY.

    ``(a) Annual Review.--
            ``(1) In general.--The Secretary shall, not less frequently 
        than on an annual basis, make such reviews and audits as may be 
        necessary or appropriate to determine whether--
                    ``(A) the Director has--
                            ``(i) carried out eligible activities under 
                        this title in a timely manner;
                            ``(ii) carried out and made certifications 
                        in accordance with the requirements and the 
                        primary objectives of this title and with other 
                        applicable laws; and
                            ``(iii) a continuing capacity to carry out 
                        the eligible activities in a timely manner;
                    ``(B) the Director has complied with the housing 
                plan submitted by the Director under section 803; and
                    ``(C) the performance reports of the Department 
                under section 821 are accurate.
            ``(2) Onsite visits.--Each review conducted under this 
        section shall, to the extent practicable, include onsite visits 
        by employees of the Department of Housing and Urban 
        Development.
    ``(b) Report by Secretary.--The Secretary shall give the Department 
of Hawaiian Home Lands not less than 30 days to review and comment on a 
report under this subsection. After taking into consideration the 
comments of the Department, the Secretary may revise the report and 
shall make the comments of the Department and the report with any 
revisions, readily available to the public not later than 30 days after 
receipt of the comments of the Department.
    ``(c) Effect of Reviews.--The Secretary may make appropriate 
adjustments in the amount of annual grants under this title in 
accordance with the findings of the Secretary pursuant to reviews and 
audits under this section. The Secretary may adjust, reduce, or 
withdraw grant amounts, or take other action as appropriate in 
accordance with the reviews and audits of the Secretary under this 
section, except that grant amounts already expended on affordable 
housing activities may not be recaptured or deducted from future 
assistance provided to the Department of Hawaiian Home Lands.

``SEC. 822. GENERAL ACCOUNTING OFFICE AUDITS.

    ``To the extent that the financial transactions of the Department 
of Hawaiian Home Lands involving grant amounts under this title relate 
to amounts provided under this title, those transactions may be audited 
by the Comptroller General of the United States under such regulations 
as may be prescribed by the Comptroller General. The Comptroller 
General of the United States shall have access to all books, accounts, 
records, reports, files, and other papers, things, or property 
belonging to or in use by the Department of Hawaiian Home Lands 
pertaining to such financial transactions and necessary to facilitate 
the audit.

``SEC. 823. REPORTS TO CONGRESS.

    ``(a) In General.--Not later than 90 days after the conclusion of 
each fiscal year in which assistance under this title is made 
available, the Secretary shall submit to Congress a report that 
contains--
            ``(1) a description of the progress made in accomplishing 
        the objectives of this title;
            ``(2) a summary of the use of funds available under this 
        title during the preceding fiscal year; and
            ``(3) a description of the aggregate outstanding loan 
        guarantees under section 184A of the Housing and Community 
        Development Act of 1992.
    ``(b) Related Reports.--The Secretary may require the Director to 
submit to the Secretary such reports and other information as may be 
necessary in order for the Secretary to prepare the report required 
under subsection (a).

``SEC. 824. AUTHORIZATION OF APPROPRIATIONS.

    ``There are authorized to be appropriated to the Department of 
Housing and Urban Development for grants under this title such sums as 
may be necessary for each of fiscal years 2001, 2002, 2003, 2004, and 
2005.''.

SEC. 514. LOAN GUARANTEES.

    Subtitle E of title I of the Housing and Community Development Act 
of 1992 is amended by inserting after section 184 (12 U.S.C. 1715z-13a) 
the following:

``SEC. 184A. LOAN GUARANTEES FOR NATIVE HAWAIIAN HOUSING.

    ``(a) Definitions.--In this section:
            ``(1) Department of hawaiian home lands.--The term 
        `Department of Hawaiian Home Lands' means the agency or 
        department of the government of the State of Hawaii that is 
        responsible for the administration of the Hawaiian Homes 
        Commission Act, 1920 (42 Stat. 108 et seq.).
            ``(2) Eligible entity.--The term `eligible entity' means a 
        Native Hawaiian family, the Department of Hawaiian Home Lands, 
        the Office of Hawaiian Affairs, and private nonprofit or 
        private for-profit organizations experienced in the planning 
        and development of affordable housing for Native Hawaiians.
            ``(3) Family.--The term `family' means one or more persons 
        maintaining a household, as the Secretary shall by regulation 
        provide.
            ``(4) Guarantee fund.--The term `Guarantee Fund' means the 
        Native Hawaiian Housing Loan Guarantee Fund established under 
        subsection (i).
            ``(5) Hawaiian home lands.--The term `Hawaiian Home Lands' 
        means lands that--
                    ``(A) have the status of Hawaiian Home Lands under 
                section 204 of the Hawaiian Homes Commission Act (42 
                Stat. 110); or
                    ``(B) are acquired pursuant to that Act.
            ``(6) Native hawaiian.--The term `Native Hawaiian' means 
        any individual who is--
                    ``(A) a citizen of the United States; and
                    ``(B) a descendant of the aboriginal people, who, 
                prior to 1778, occupied and exercised sovereignty in 
                the area that currently constitutes the State of 
                Hawaii, as evidenced by--
                            ``(i) genealogical records;
                            ``(ii) verification by kupuna (elders) or 
                        kama'aina (long-term community residents); or
                            ``(iii) birth records of the State of 
                        Hawaii.
            ``(7) Office of hawaiian affairs.--The term `Office of 
        Hawaiian Affairs' means the entity of that name established 
        under the constitution of the State of Hawaii.
    ``(b) Authority.--To provide access to sources of private financing 
to Native Hawaiian families who otherwise could not acquire housing 
financing because of the unique legal status of the Hawaiian Home Lands 
or as a result of a lack of access to private financial markets, the 
Secretary may guarantee an amount not to exceed 100 percent of the 
unpaid principal and interest that is due on an eligible loan under 
subsection (b).
    ``(c) Eligible Loans.--Under this section, a loan is an eligible 
loan if that loan meets the following requirements:
            ``(1) Eligible borrowers.--The loan is made only to a 
        borrower who is--
                    ``(A) a Native Hawaiian family;
                    ``(B) the Department of Hawaiian Home Lands;
                    ``(C) the Office of Hawaiian Affairs; or
                    ``(D) a private nonprofit organization experienced 
                in the planning and development of affordable housing 
                for Native Hawaiians.
            ``(2) Eligible housing.--
                    ``(A) In general.--The loan will be used to 
                construct, acquire, or rehabilitate not more than 4-
                family dwellings that are standard housing and are 
                located on Hawaiian Home Lands for which a housing plan 
                described in subparagraph (B) applies.
                    ``(B) Housing plan.--A housing plan described in 
                this subparagraph is a housing plan that--
                            ``(i) has been submitted and approved by 
                        the Secretary under section 803 of the Native 
                        American Housing Assistance and Self-
                        Determination Act of 1996; and
                            ``(ii) provides for the use of loan 
                        guarantees under this section to provide 
                        affordable homeownership housing on Hawaiian 
                        Home Lands.
            ``(3) Security.--The loan may be secured by any collateral 
        authorized under applicable Federal or State law.
            ``(4) Lenders.--
                    ``(A) In general.--The loan shall be made only by a 
                lender approved by, and meeting qualifications 
                established by, the Secretary, including any lender 
                described in subparagraph (B), except that a loan 
                otherwise insured or guaranteed by an agency of the 
                Federal Government or made by the Department of 
                Hawaiian Home Lands from amounts borrowed from the 
                United States shall not be eligible for a guarantee 
                under this section.
                    ``(B) Approval.--The following lenders shall be 
                considered to be lenders that have been approved by the 
                Secretary:
                            ``(i) Any mortgagee approved by the 
                        Secretary for participation in the single 
                        family mortgage insurance program under title 
                        II of the National Housing Act (12 U.S.C.A. 
                        1707 et seq.).
                            ``(ii) Any lender that makes housing loans 
                        under chapter 37 of title 38, United States 
                        Code, that are automatically guaranteed under 
                        section 3702(d) of title 38, United States 
                        Code.
                            ``(iii) Any lender approved by the 
                        Secretary of Agriculture to make guaranteed 
                        loans for single family housing under the 
                        Housing Act of 1949 (42 U.S.C.A. 1441 et seq.).
                            ``(iv) Any other lender that is supervised, 
                        approved, regulated, or insured by any agency 
                        of the Federal Government.
            ``(5) Terms.--The loan shall--
                    ``(A) be made for a term not exceeding 30 years;
                    ``(B) bear interest (exclusive of the guarantee fee 
                under subsection (d) and service charges, if any) at a 
                rate agreed upon by the borrower and the lender and 
                determined by the Secretary to be reasonable, but not 
                to exceed the rate generally charged in the area (as 
                determined by the Secretary) for home mortgage loans 
                not guaranteed or insured by any agency or 
                instrumentality of the Federal Government;
                    ``(C) involve a principal obligation not 
                exceeding--
                            ``(i) 97.75 percent of the appraised value 
                        of the property as of the date the loan is 
                        accepted for guarantee (or 98.75 percent if the 
                        value of the property is $50,000 or less); or
                            ``(ii) the amount approved by the Secretary 
                        under this section; and
                    ``(D) involve a payment on account of the 
                property--
                            ``(i) in cash or its equivalent; or
                            ``(ii) through the value of any 
                        improvements to the property made through the 
                        skilled or unskilled labor of the borrower, as 
                        the Secretary shall provide.
    ``(d) Certificate of Guarantee.--
            ``(1) Approval process.--
                    ``(A) In general.--Before the Secretary approves 
                any loan for guarantee under this section, the lender 
                shall submit the application for the loan to the 
                Secretary for examination.
                    ``(B) Approval.--If the Secretary approves the 
                application submitted under subparagraph (A), the 
                Secretary shall issue a certificate under this 
                subsection as evidence of the loan guarantee approved.
            ``(2) Standard for approval.--The Secretary may approve a 
        loan for guarantee under this section and issue a certificate 
        under this subsection only if the Secretary determines that 
        there is a reasonable prospect of repayment of the loan.
            ``(3) Effect.--
                    ``(A) In general.--A certificate of guarantee 
                issued under this subsection by the Secretary shall be 
                conclusive evidence of the eligibility of the loan for 
                guarantee under this section and the amount of that 
                guarantee.
                    ``(B) Evidence.--The evidence referred to in 
                subparagraph (A) shall be incontestable in the hands of 
                the bearer.
                    ``(C) Full faith and credit.--The full faith and 
                credit of the United States is pledged to the payment 
                of all amounts agreed to be paid by the Secretary as 
                security for the obligations made by the Secretary 
                under this section.
            ``(4) Fraud and misrepresentation.--This subsection may not 
        be construed--
                    ``(A) to preclude the Secretary from establishing 
                defenses against the original lender based on fraud or 
                material misrepresentation; or
                    ``(B) to bar the Secretary from establishing by 
                regulations that are on the date of issuance or 
                disbursement, whichever is earlier, partial defenses to 
                the amount payable on the guarantee.
    ``(e) Guarantee Fee.--
            ``(1) In general.--The Secretary shall fix and collect a 
        guarantee fee for the guarantee of a loan under this section, 
        which may not exceed the amount equal to 1 percent of the 
        principal obligation of the loan.
            ``(2) Payment.--The fee under this subsection shall--
                    ``(A) be paid by the lender at time of issuance of 
                the guarantee; and
                    ``(B) be adequate, in the determination of the 
                Secretary, to cover expenses and probable losses.
            ``(3) Deposit.--The Secretary shall deposit any fees 
        collected under this subsection in the Native Hawaiian Housing 
        Loan Guarantee Fund established under subsection (j).
    ``(f) Liability Under Guarantee.--The liability under a guarantee 
provided under this section shall decrease or increase on a pro rata 
basis according to any decrease or increase in the amount of the unpaid 
obligation under the provisions of the loan agreement involved.
    ``(g) Transfer and Assumption.--Notwithstanding any other provision 
of law, any loan guaranteed under this section, including the security 
given for the loan, may be sold or assigned by the lender to any 
financial institution subject to examination and supervision by an 
agency of the Federal Government or of any State or the District of 
Columbia.
    ``(h) Disqualification of Lenders and Civil Money Penalties.--
            ``(1) In general.--
                    ``(A) Grounds for action.--The Secretary may take 
                action under subparagraph (B) if the Secretary 
                determines that any lender or holder of a guarantee 
                certificate under subsection (c)--
                            ``(i) has failed--
                                    ``(I) to maintain adequate 
                                accounting records;
                                    ``(II) to service adequately loans 
                                guaranteed under this section; or
                                    ``(III) to exercise proper credit 
                                or underwriting judgment; or
                            ``(ii) has engaged in practices otherwise 
                        detrimental to the interest of a borrower or 
                        the United States.
                    ``(B) Actions.--Upon a determination by the 
                Secretary that a holder of a guarantee certificate 
                under subsection (c) has failed to carry out an 
                activity described in subparagraph (A)(i) or has 
                engaged in practices described in subparagraph (A)(ii), 
                the Secretary may--
                            ``(i) refuse, either temporarily or 
                        permanently, to guarantee any further loans 
                        made by such lender or holder;
                            ``(ii) bar such lender or holder from 
                        acquiring additional loans guaranteed under 
                        this section; and
                            ``(iii) require that such lender or holder 
                        assume not less than 10 percent of any loss on 
                        further loans made or held by the lender or 
                        holder that are guaranteed under this section.
            ``(2) Civil money penalties for intentional violations.--
                    ``(A) In general.--The Secretary may impose a civil 
                monetary penalty on a lender or holder of a guarantee 
                certificate under subsection (d) if the Secretary 
                determines that the holder or lender has intentionally 
                failed--
                            ``(i) to maintain adequate accounting 
                        records;
                            ``(ii) to adequately service loans 
                        guaranteed under this section; or
                            ``(iii) to exercise proper credit or 
                        underwriting judgment.
                    ``(B) Penalties.--A civil monetary penalty imposed 
                under this paragraph shall be imposed in the manner and 
                be in an amount provided under section 536 of the 
                National Housing Act (12 U.S.C.A. 1735f-1) with respect 
                to mortgagees and lenders under that Act.
            ``(3) Payment on loans made in good faith.--Notwithstanding 
        paragraphs (1) and (2), if a loan was made in good faith, the 
        Secretary may not refuse to pay a lender or holder of a valid 
        guarantee on that loan, without regard to whether the lender or 
        holder is barred under this subsection.
    ``(i) Payment Under Guarantee.--
            ``(1) Lender options.--
                    ``(A) In general.--
                            ``(i) Notification.--If a borrower on a 
                        loan guaranteed under this section defaults on 
                        the loan, the holder of the guarantee 
                        certificate shall provide written notice of the 
                        default to the Secretary.
                            ``(ii) Payment.--Upon providing the notice 
                        required under clause (i), the holder of the 
                        guarantee certificate shall be entitled to 
                        payment under the guarantee (subject to the 
                        provisions of this section) and may proceed to 
                        obtain payment in one of the following manners:
                                    ``(I) Foreclosure.--
                                            ``(aa) In general.--The 
                                        holder of the certificate may 
                                        initiate foreclosure 
                                        proceedings (after providing 
                                        written notice of that action 
                                        to the Secretary).
                                            ``(bb) Payment.--Upon a 
                                        final order by the court 
                                        authorizing foreclosure and 
                                        submission to the Secretary of 
                                        a claim for payment under the 
                                        guarantee, the Secretary shall 
                                        pay to the holder of the 
                                        certificate the pro rata 
                                        portion of the amount 
                                        guaranteed (as determined 
                                        pursuant to subsection (f)) 
                                        plus reasonable fees and 
                                        expenses as approved by the 
                                        Secretary.
                                            ``(cc) Subrogation.--The 
                                        rights of the Secretary shall 
                                        be subrogated to the rights of 
                                        the holder of the guarantee. 
                                        The holder shall assign the 
                                        obligation and security to the 
                                        Secretary.
                                    ``(II) No foreclosure.--
                                            ``(aa) In general.--Without 
                                        seeking foreclosure (or in any 
                                        case in which a foreclosure 
                                        proceeding initiated under 
                                        clause (i) continues for a 
                                        period in excess of 1 year), 
                                        the holder of the guarantee may 
                                        submit to the Secretary a 
                                        request to assign the 
                                        obligation and security 
                                        interest to the Secretary in 
                                        return for payment of the claim 
                                        under the guarantee. The 
                                        Secretary may accept assignment 
                                        of the loan if the Secretary 
                                        determines that the assignment 
                                        is in the best interest of the 
                                        United States.
                                            ``(bb) Payment.--Upon 
                                        assignment, the Secretary shall 
                                        pay to the holder of the 
                                        guarantee the pro rata portion 
                                        of the amount guaranteed (as 
                                        determined under subsection 
                                        (f)).
                                            ``(cc) Subrogation.--The 
                                        rights of the Secretary shall 
                                        be subrogated to the rights of 
                                        the holder of the guarantee. 
                                        The holder shall assign the 
                                        obligation and security to the 
                                        Secretary.
                    ``(B) Requirements.--Before any payment under a 
                guarantee is made under subparagraph (A), the holder of 
                the guarantee shall exhaust all reasonable 
                possibilities of collection. Upon payment, in whole or 
                in part, to the holder, the note or judgment evidencing 
                the debt shall be assigned to the United States and the 
                holder shall have no further claim against the borrower 
                or the United States. The Secretary shall then take 
                such action to collect as the Secretary determines to 
                be appropriate.
            ``(2) Limitations on liquidation.--
                    ``(A) In general.--If a borrower defaults on a loan 
                guaranteed under this section that involves a security 
                interest in restricted Hawaiian Home Land property, the 
                mortgagee or the Secretary shall only pursue 
                liquidation after offering to transfer the account to 
                another eligible Hawaiian family or the Department of 
                Hawaiian Home Lands.
                    ``(B) Limitation.--If, after action is taken under 
                subparagraph (A), the mortgagee or the Secretary 
                subsequently proceeds to liquidate the account, the 
                mortgagee or the Secretary shall not sell, transfer, or 
                otherwise dispose of or alienate the property described 
                in subparagraph (A) except to another eligible Hawaiian 
                family or to the Department of Hawaiian Home Lands.
    ``(j) Hawaiian Housing Loan Guarantee Fund.--
            ``(1) Establishment.--There is established in the Treasury 
        of the United States the Hawaiian Housing Loan Guarantee Fund 
        for the purpose of providing loan guarantees under this 
        section.
            ``(2) Credits.--The Guarantee Fund shall be credited with--
                    ``(A) any amount, claims, notes, mortgages, 
                contracts, and property acquired by the Secretary under 
                this section, and any collections and proceeds 
                therefrom;
                    ``(B) any amounts appropriated pursuant to 
                paragraph (7);
                    ``(C) any guarantee fees collected under subsection 
                (d); and
                    ``(D) any interest or earnings on amounts invested 
                under paragraph (4).
            ``(3) Use.--Amounts in the Guarantee Fund shall be 
        available, to the extent provided in appropriations Acts, for--
                    ``(A) fulfilling any obligations of the Secretary 
                with respect to loans guaranteed under this section, 
                including the costs (as that term is defined in section 
                502 of the Federal Credit Reform Act of 1990 (2 U.S.C. 
                661a)) of such loans;
                    ``(B) paying taxes, insurance, prior liens, 
                expenses necessary to make fiscal adjustment in 
                connection with the application and transmittal of 
                collections, and other expenses and advances to protect 
                the Secretary for loans which are guaranteed under this 
                section or held by the Secretary;
                    ``(C) acquiring such security property at 
                foreclosure sales or otherwise;
                    ``(D) paying administrative expenses in connection 
                with this section; and
                    ``(E) reasonable and necessary costs of 
                rehabilitation and repair to properties that the 
                Secretary holds or owns pursuant to this section.
            ``(4) Investment.--Any amounts in the Guarantee Fund 
        determined by the Secretary to be in excess of amounts 
        currently required at the time of the determination to carry 
        out this section may be invested in obligations of the United 
        States.
            ``(5) Limitation on commitments to guarantee loans and 
        mortgages.--
                    ``(A) Requirement of appropriations.--The authority 
                of the Secretary to enter into commitments to guarantee 
                loans under this section shall be effective for any 
                fiscal year to the extent, or in such amounts as are, 
                or have been, provided in appropriations Acts, without 
                regard to the fiscal year for which such amounts were 
                appropriated.
                    ``(B) Limitations on costs of guarantees.--The 
                authority of the Secretary to enter into commitments to 
                guarantee loans under this section shall be effective 
                for any fiscal year only to the extent that amounts in 
                the Guarantee Fund are or have been made available in 
                appropriations Acts to cover the costs (as that term is 
                defined in section 502 of the Federal Credit Reform Act 
                of 1990 (2 U.S.C. 661a)) of such loan guarantees for 
                such fiscal year. Any amounts appropriated pursuant to 
                this subparagraph shall remain available until 
                expended.
                    ``(C) Limitation on outstanding aggregate principal 
                amount.--Subject to the limitations in subparagraphs 
                (A) and (B), the Secretary may enter into commitments 
                to guarantee loans under this section for each of 
                fiscal years 2001, 2002, 2003, 2004, and 2005 with an 
                aggregate outstanding principal amount not exceeding 
                $100,000,000 for each such fiscal year.
            ``(6) Liabilities.--All liabilities and obligations of the 
        assets credited to the Guarantee Fund under paragraph (2)(A) 
        shall be liabilities and obligations of the Guarantee Fund.
            ``(7) Authorization of appropriations.--There are 
        authorized to be appropriated to the Guarantee Fund to carry 
        out this section such sums as may be necessary for each of 
        fiscal years 2001, 2002, 2003, 2004, and 2005.
    ``(k) Requirements for Standard Housing.--
            ``(1) In general.--The Secretary shall, by regulation, 
        establish housing safety and quality standards to be applied 
        for use under this section.
            ``(2) Standards.--The standards referred to in paragraph 
        (1) shall--
                    ``(A) provide sufficient flexibility to permit the 
                use of various designs and materials in housing 
                acquired with loans guaranteed under this section; and
                    ``(B) require each dwelling unit in any housing 
                acquired in the manner described in subparagraph (A) 
                to--
                            ``(i) be decent, safe, sanitary, and modest 
                        in size and design;
                            ``(ii) conform with applicable general 
                        construction standards for the region in which 
                        the housing is located;
                            ``(iii) contain a plumbing system that--
                                    ``(I) uses a properly installed 
                                system of piping;
                                    ``(II) includes a kitchen sink and 
                                a partitional bathroom with lavatory, 
                                toilet, and bath or shower; and
                                    ``(III) uses water supply, 
                                plumbing, and sewage disposal systems 
                                that conform to any minimum standards 
                                established by the applicable county or 
                                State;
                            ``(iv) contain an electrical system using 
                        wiring and equipment properly installed to 
                        safely supply electrical energy for adequate 
                        lighting and for operation of appliances that 
                        conforms to any appropriate county, State, or 
                        national code;
                            ``(v) be not less than the size provided 
                        under the applicable locally adopted standards 
                        for size of dwelling units, except that the 
                        Secretary, upon request of the Department of 
                        Hawaiian Home Lands may waive the size 
                        requirements under this paragraph; and
                            ``(vi) conform with the energy performance 
                        requirements for new construction established 
                        by the Secretary under section 526(a) of the 
                        National Housing Act (12 U.S.C.A. 1735f-4), 
                        unless the Secretary determines that the 
                        requirements are not applicable.
    ``(l) Applicability of Civil Rights Statutes.--To the extent that 
the requirements of title VI of the Civil Rights Act of 1964 (42 U.S.C. 
2000d et seq.) or of the Fair Housing Act (42 U.S.C.A. 3601 et seq.) 
apply to a guarantee provided under this subsection, nothing in the 
requirements concerning discrimination on the basis of race shall be 
construed to prevent the provision of the guarantee to an eligible 
entity on the basis that the entity serves Native Hawaiian families or 
is a Native Hawaiian family.''.

               TITLE VI--MANUFACTURED HOUSING IMPROVEMENT

SEC. 601. SHORT TITLE; REFERENCES.

    (a) Short Title.--This title may be cited as the ``Manufactured 
Housing Improvement Act of 2000''.
    (b) References.--Whenever in this title an amendment is expressed 
in terms of an amendment to, or repeal of, a section or other 
provision, the reference shall be considered to be made to that section 
or other provision of the National Manufactured Housing Construction 
and Safety Standards Act of 1974 (42 U.S.C. 5401 et seq.).

SEC. 602. FINDINGS AND PURPOSES.

    Section 602 (42 U.S.C. 5401) is amended to read as follows:

``SEC. 602. FINDINGS AND PURPOSES.

    ``(a) Findings.--Congress finds that--
            ``(1) manufactured housing plays a vital role in meeting 
        the housing needs of the Nation; and
            ``(2) manufactured homes provide a significant resource for 
        affordable homeownership and rental housing accessible to all 
        Americans.
    ``(b) Purposes.--The purposes of this title are--
            ``(1) to protect the quality, durability, safety, and 
        affordability of manufactured homes;
            ``(2) to facilitate the availability of affordable 
        manufactured homes and to increase homeownership for all 
        Americans;
            ``(3) to provide for the establishment of practical, 
        uniform, and, to the extent possible, performance-based Federal 
        construction standards for manufactured homes;
            ``(4) to encourage innovative and cost-effective 
        construction techniques for manufactured homes;
            ``(5) to protect residents of manufactured homes with 
        respect to personal injuries and the amount of insurance costs 
        and property damages in manufactured housing, consistent with 
        the other purposes of this section;
            ``(6) to establish a balanced consensus process for the 
        development, revision, and interpretation of Federal 
        construction and safety standards for manufactured homes and 
        related regulations for the enforcement of such standards;
            ``(7) to ensure uniform and effective enforcement of 
        Federal construction and safety standards for manufactured 
        homes; and
            ``(8) to ensure that the public interest in, and need for, 
        affordable manufactured housing is duly considered in all 
        determinations relating to the Federal standards and their 
        enforcement.''.

SEC. 603. DEFINITIONS.

    (a) In General.--Section 603 (42 U.S.C. 5402) is amended--
            (1) in paragraph (2), by striking ``dealer'' and inserting 
        ``retailer'';
            (2) in paragraph (12), by striking ``and'' at the end;
            (3) in paragraph (13), by striking the period at the end 
        and inserting a semicolon; and
            (4) by adding at the end the following:
            ``(14) `administering organization' means the recognized, 
        voluntary, private sector, consensus standards body with 
        specific experience in developing model residential building 
        codes and standards involving all disciplines regarding 
        construction and safety that administers the consensus 
        standards through a development process;
            ``(15) `consensus committee' means the committee 
        established under section 604(a)(3);
            ``(16) `consensus standards development process' means the 
        process by which additions, revisions, and interpretations to 
        the Federal manufactured home construction and safety standards 
        and enforcement regulations shall be developed and recommended 
        to the Secretary by the consensus committee;
            ``(17) `primary inspection agency' means a State agency or 
        private organization that has been approved by the Secretary to 
        act as a design approval primary inspection agency or a 
        production inspection primary inspection agency, or both;
            ``(18) `design approval primary inspection agency' means a 
        State agency or private organization that has been approved by 
        the Secretary to evaluate and either approve or disapprove 
        manufactured home designs and quality control procedures;
            ``(19) `installation standards' means reasonable 
        specifications for the installation of a manufactured home, at 
        the place of occupancy, to ensure proper siting, the joining of 
        all sections of the home, and the installation of 
        stabilization, support, or anchoring systems;
            ``(20) `monitoring' means the process of periodic review of 
        the primary inspection agencies, by the Secretary or by a State 
        agency under an approved State plan pursuant to section 623, in 
        accordance with regulations promulgated under this title, 
        giving due consideration to the recommendations of the 
        consensus committee under section 604(b), which process shall 
        be for the purpose of ensuring that the primary inspection 
        agencies are discharging their duties under this title; and
            ``(21) `production inspection primary inspection agency' 
        means a State agency or private organization that has been 
        approved by the Secretary to evaluate the ability of 
        manufactured home manufacturing plants to comply with approved 
        quality control procedures and with the Federal manufactured 
        home construction and safety standards promulgated hereunder, 
        including the inspection of homes in the plant.''.
    (b) Conforming Amendments.--The National Manufactured Housing 
Construction and Safety Standards Act of 1974 (42 U.S.C. 5401 et seq.) 
is amended--
            (1) in section 613 (42 U.S.C. 5412), by striking ``dealer'' 
        each place it appears and inserting ``retailer'';
            (2) in section 614(f) (42 U.S.C. 5413(f)), by striking 
        ``dealer'' each place it appears and inserting ``retailer'';
            (3) in section 615 (42 U.S.C. 5414)--
                    (A) in subsection (b)(1), by striking ``dealer'' 
                and inserting ``retailer'';
                    (B) in subsection (b)(3), by striking ``dealer or 
                dealers'' and inserting ``retailer or retailers''; and
                    (C) in subsections (d) and (f), by striking 
                ``dealers'' each place it appears and inserting 
                ``retailers'';
            (4) in section 616 (42 U.S.C. 5415), by striking ``dealer'' 
        and inserting ``retailer''; and
            (5) in section 623(c)(9), by striking ``dealers'' and 
        inserting ``retailers''.

SEC. 604. FEDERAL MANUFACTURED HOME CONSTRUCTION AND SAFETY STANDARDS.

    Section 604 (42 U.S.C. 5403) is amended--
            (1) by striking subsections (a) and (b) and inserting the 
        following:
    ``(a) Establishment.--
            ``(1) Authority.--The Secretary shall establish, by order, 
        appropriate Federal manufactured home construction and safety 
        standards, each of which--
                    ``(A) shall--
                            ``(i) be reasonable and practical;
                            ``(ii) meet high standards of protection 
                        consistent with the purposes of this title; and
                            ``(iii) be performance-based and 
                        objectively stated, unless clearly 
                        inappropriate; and
                    ``(B) except as provided in subsection (b), shall 
                be established in accordance with the consensus 
                standards development process.
            ``(2) Consensus standards and regulatory development 
        process.--
                    ``(A) Initial agreement.--Not later than 180 days 
                after the date of enactment of the Manufactured Housing 
                Improvement Act of 2000, the Secretary shall enter into 
                a contract with an administering organization. The 
                contractual agreement shall--
                            ``(i) terminate on the date on which a 
                        contract is entered into under subparagraph 
                        (B); and
                            ``(ii) require the administering 
                        organization to--
                                    ``(I) recommend the initial members 
                                of the consensus committee under 
                                paragraph (3);
                                    ``(II) administer the consensus 
                                standards development process until the 
                                termination of that agreement; and
                                    ``(III) administer the consensus 
                                development and interpretation process 
                                for procedural and enforcement 
                                regulations and regulations specifying 
                                the permissible scope and conduct of 
                                monitoring until the termination of 
                                that agreement.
                    ``(B) Competitively procured contract.--Upon the 
                expiration of the 4-year period beginning on the date 
                on which all members of the consensus committee are 
                appointed under paragraph (3), the Secretary shall, 
                using competitive procedures (as such term is defined 
                in section 4 of the Office of Federal Procurement 
                Policy Act), enter into a competitively awarded 
                contract with an administering organization. The 
                administering organization shall administer the 
                consensus process for the development and 
                interpretation of the Federal standards, the procedural 
                and enforcement regulations, and regulations specifying 
                the permissible scope and conduct of monitoring, in 
                accordance with this title.
                    ``(C) Performance review.--The Secretary--
                            ``(i) shall periodically review the 
                        performance of the administering organization; 
                        and
                            ``(ii) may replace the administering 
                        organization with another qualified technical 
                        or building code organization, pursuant to 
                        competitive procedures, if the Secretary 
                        determines in writing that the administering 
                        organization is not fulfilling the terms of the 
                        agreement or contract to which the 
                        administering organization is subject or upon 
                        the expiration of the agreement or contract.
            ``(3) Consensus committee.--
                    ``(A) Purpose.--There is established a committee to 
                be known as the `consensus committee', which shall, in 
                accordance with this title--
                            ``(i) provide periodic recommendations to 
                        the Secretary to adopt, revise, and interpret 
                        the Federal manufactured housing construction 
                        and safety standards in accordance with this 
                        subsection;
                            ``(ii) provide periodic recommendations to 
                        the Secretary to adopt, revise, and interpret 
                        the procedural and enforcement regulations, 
                        including regulations specifying the 
                        permissible scope and conduct of monitoring in 
                        accordance with subsection (b);
                            ``(iii) be organized and carry out its 
                        business in a manner that guarantees a fair 
                        opportunity for the expression and 
                        consideration of various positions and for 
                        public participation; and
                            ``(iv) be deemed to be an advisory 
                        committee not composed of Federal employees.
                    ``(B) Membership.--The consensus committee shall be 
                composed of--
                            ``(i) 21 voting members appointed by the 
                        Secretary, after consideration of the 
                        recommendations of the administering 
                        organization, from among individuals who are 
                        qualified by background and experience to 
                        participate in the work of the consensus 
                        committee; and
                            ``(ii) 1 nonvoting member appointed by the 
                        Secretary to represent the Secretary on the 
                        consensus committee.
                    ``(C) Disapproval.--The Secretary shall state, in 
                writing, the reasons for failing to appoint any 
                individual recommended under paragraph (2)(A)(ii)(I).
                    ``(D) Selection procedures and requirements.--Each 
                member of the consensus committee shall be appointed in 
                accordance with selection procedures, which shall be 
                based on the procedures for consensus committees 
                promulgated by the American National Standards 
                Institute (or successor organization), except that the 
                American National Standards Institute interest 
                categories shall be modified for purposes of this 
                paragraph to ensure equal representation on the 
                consensus committee of the following interest 
                categories:
                            ``(i) Producers.--Seven producers or 
                        retailers of manufactured housing.
                            ``(ii) Users.--Seven persons representing 
                        consumer interests, such as consumer 
                        organizations, recognized consumer leaders, and 
                        owners who are residents of manufactured homes.
                            ``(iii) General interest and public 
                        officials.--Seven general interest and public 
                        official members.
                    ``(E) Balancing of interests.--
                            ``(i) In general.--In order to achieve a 
                        proper balance of interests on the consensus 
                        committee, the Secretary, in appointing the 
                        members of the consensus committee--
                                    ``(I) shall ensure that all 
                                directly and materially affected 
                                interests have the opportunity for fair 
                                and equitable participation without 
                                dominance by any single interest; and
                                    ``(II) may reject the appointment 
                                of any 1 or more individuals in order 
                                to ensure that there is not dominance 
                                by any single interest.
                            ``(ii) Dominance defined.--In this 
                        subparagraph, the term `dominance' means a 
                        position or exercise of dominant authority, 
                        leadership, or influence by reason of superior 
                        leverage, strength, or representation.
                    ``(F) Additional qualifications.--
                            ``(i) Financial independence.--No 
                        individual appointed under subparagraph (D)(ii) 
                        shall have, and 3 of the individuals appointed 
                        under subparagraph (D)(iii) shall not have--
                                    ``(I) a significant financial 
                                interest in any segment of the 
                                manufactured housing industry; or
                                    ``(II) a significant relationship 
                                to any person engaged in the 
                                manufactured housing industry.
                            ``(ii) Post-employment ban.--Each 
                        individual described in clause (i) shall be 
                        subject to a ban disallowing compensation from 
                        the manufactured housing industry during the 
                        period of, and during the 1-year following, the 
                        membership of the individual on the consensus 
                        committee.
                    ``(G) Meetings.--
                            ``(i) Notice; open to public.--The 
                        consensus committee shall provide advance 
                        notice of each meeting of the consensus 
                        committee to the Secretary and cause to be 
                        published in the Federal Register advance 
                        notice of each such meeting. All meetings of 
                        the consensus committee shall be open to the 
                        public.
                            ``(ii) Reimbursement.--Members of the 
                        consensus committee in attendance at meetings 
                        of the consensus committee shall be reimbursed 
                        for their actual expenses as authorized by 
                        section 5703 of title 5, United States Code, 
                        for persons employed intermittently in 
                        Government service.
                    ``(H) Administration.--The consensus committee and 
                the administering organization shall--
                            ``(i) operate in conformance with the 
                        procedures established by the American National 
                        Standards Institute for the development and 
                        coordination of American National Standards; 
                        and
                            ``(ii) apply to the American National 
                        Standards Institute and take such other actions 
                        as may be necessary to obtain accreditation 
                        from the American National Standards Institute.
                    ``(I) Staff and technical support.--The 
                administering organization shall, upon the request of 
                the consensus committee--
                            ``(i) provide reasonable staff resources to 
                        the consensus committee; and
                            ``(ii) furnish technical support in a 
                        timely manner to any of the interest categories 
                        described in subparagraph (D) represented on 
                        the consensus committee, if--
                                    ``(I) the support is necessary to 
                                ensure the informed participation of 
                                the consensus committee members; and
                                    ``(II) the costs of providing the 
                                support are reasonable.
                    ``(J) Date of initial appointments.--The initial 
                appointments of all of the members of the consensus 
                committee shall be completed not later than 90 days 
                after the date on which a contractual agreement under 
                paragraph (2)(A) is entered into with the administering 
                organization.
            ``(4) Revisions of standards.--
                    ``(A) In general.--Beginning on the date on which 
                all members of the consensus committee are appointed 
                under paragraph (3), the consensus committee shall, not 
                less than once during each 2-year period--
                            ``(i) consider revisions to the Federal 
                        manufactured home construction and safety 
                        standards; and
                            ``(ii) submit proposed revised standards, 
                        if approved in a vote of the consensus 
                        committee by \2/3\ of the members, to the 
                        Secretary in the form of a proposed rule, 
                        including an economic analysis.
                    ``(B) Publication of proposed revised standards.--
                            ``(i) Publication by secretary.--The 
                        consensus committee shall provide a proposed 
                        revised standard under subparagraph (A)(ii) to 
                        the Secretary who shall, not later than 30 days 
                        after receipt, cause such proposed revised 
                        standard to be published in the Federal 
                        Register for notice and comment in accordance 
                        with section 553 of title 5, United States 
                        Code. Unless clause (ii) applies, the Secretary 
                        shall provide an opportunity for public comment 
                        on such proposed revised standard in accordance 
                        with such section 553 and any such comments 
                        shall be submitted directly to the consensus 
                        committee, without delay.
                            ``(ii) Publication of rejected proposed 
                        revised standards.--If the Secretary rejects 
                        the proposed revised standard, the Secretary 
                        shall cause to be published in the Federal 
                        Register the rejected proposed revised 
                        standard, the reasons for rejection, and any 
                        recommended modifications set forth.
                    ``(C) Presentation of public comments; publication 
                of recommended revisions.--
                            ``(i) Presentation.--Any public comments, 
                        views, and objections to a proposed revised 
                        standard published under subparagraph (B) shall 
                        be presented by the Secretary to the consensus 
                        committee upon their receipt and in the manner 
                        received, in accordance with procedures 
                        established by the American National Standards 
                        Institute.
                            ``(ii) Publication by the secretary.--The 
                        consensus committee shall provide to the 
                        Secretary any revision proposed by the 
                        consensus committee, which the Secretary shall, 
                        not later than 30 calendar days after receipt, 
                        cause to be published in the Federal Register a 
                        notice of the recommended revisions of the 
                        consensus committee to the standards, a notice 
                        of the submission of the recommended revisions 
                        to the Secretary, and a description of the 
                        circumstances under which the proposed revised 
                        standards could become effective.
                            ``(iii) Publication of rejected proposed 
                        revised standards.--If the Secretary rejects 
                        the proposed revised standard, the Secretary 
                        shall cause to be published in the Federal 
                        Register the rejected proposed revised 
                        standard, the reasons for rejection, and any 
                        recommended modifications set forth.
            ``(5) Review by the secretary.--
                    ``(A) In general.--The Secretary shall either 
                adopt, modify, or reject a standard, as submitted by 
                the consensus committee under paragraph (4)(A).
                    ``(B) Timing.--Not later than 12 months after the 
                date on which a standard is submitted to the Secretary 
                by the consensus committee, the Secretary shall take 
                action regarding such standard under subparagraph (C).
                    ``(C) Procedures.--If the Secretary--
                            ``(i) adopts a standard recommended by the 
                        consensus committee, the Secretary shall--
                                    ``(I) issue a final order without 
                                further rulemaking; and
                                    ``(II) cause the final order to be 
                                published in the Federal Register;
                            ``(ii) determines that any standard should 
                        be rejected, the Secretary shall--
                                    ``(I) reject the standard; and
                                    ``(II) cause to be published in the 
                                Federal Register a notice to that 
                                effect, together with the reason or 
                                reasons for rejecting the proposed 
                                standard; or
                            ``(iii) determines that a standard 
                        recommended by the consensus committee should 
                        be modified, the Secretary shall--
                                    ``(I) cause to be published in the 
                                Federal Register the proposed modified 
                                standard, together with an explanation 
                                of the reason or reasons for the 
                                determination of the Secretary; and
                                    ``(II) provide an opportunity for 
                                public comment in accordance with 
                                section 553 of title 5, United States 
                                Code.
                    ``(D) Final order.--Any final standard under this 
                paragraph shall become effective pursuant to subsection 
                (c).
            ``(6) Failure to act.--If the Secretary fails to take final 
        action under paragraph (5) and to cause notice of the action to 
        be published in the Federal Register before the expiration of 
        the 12-month period beginning on the date on which the proposed 
        revised standard is submitted to the Secretary under paragraph 
        (4)(A)--
                    ``(A) the Secretary shall appear in person before 
                the appropriate housing and appropriations 
                subcommittees and committees of the House of 
                Representatives and the Senate (referred to in this 
                paragraph as the `committees') on a date or dates to be 
                specified by the committees, but in no event later than 
                30 days after the expiration of that 12-month period, 
                and shall state before the committees the reasons for 
                failing to take final action as required under 
                paragraph (5); and
                    ``(B) if the Secretary does not appear in person as 
                required under subparagraph (A), the Secretary shall 
                thereafter, and until such time as the Secretary does 
                appear as required under subparagraph (A), be 
                prohibited from expending any funds collected under 
                authority of this title in an amount greater than that 
                collected and expended in the fiscal year immediately 
                preceding the date of enactment of the Manufactured 
                Housing Improvement Act of 2000, indexed for inflation 
                as determined by the Congressional Budget Office.
    ``(b) Other Orders.--
            ``(1) Regulations.--The Secretary may issue procedural and 
        enforcement regulations and revisions to existing regulations 
        as necessary to implement the provisions of this title. The 
        consensus committee may submit to the Secretary proposed 
        procedural and enforcement regulations and recommendations for 
        the revision of such regulations.
            ``(2) Interpretative bulletins.--The Secretary may issue 
        interpretative bulletins to clarify the meaning of any Federal 
        manufactured home construction and safety standard or 
        procedural and enforcement regulation. The consensus committee 
        may submit to the Secretary proposed interpretative bulletins 
        to clarify the meaning of any Federal manufactured home 
        construction and safety standard or procedural and enforcement 
        regulation.
            ``(3) Review by consensus committee.--Before issuing a 
        procedural or enforcement regulation or an interpretative 
        bulletin--
                    ``(A) the Secretary shall--
                            ``(i) submit the proposed procedural or 
                        enforcement regulation or interpretative 
                        bulletin to the consensus committee; and
                            ``(ii) provide the consensus committee with 
                        a period of 120 days to submit written comments 
                        to the Secretary on the proposed procedural or 
                        enforcement regulation or the interpretative 
                        bulletin; and
                    ``(B) if the Secretary rejects any significant 
                comment provided by the consensus committee under 
                subparagraph (A), the Secretary shall provide a written 
                explanation of the reasons for the rejection to the 
                consensus committee; and
                    ``(C) following compliance with subparagraphs (A) 
                and (B), the Secretary shall--
                            ``(i) cause the proposed regulation or 
                        interpretative bulletin and the consensus 
                        committee's written comments, along with the 
                        Secretary's response thereto, to be published 
                        in the Federal Register; and
                            ``(ii) provide an opportunity for public 
                        comment in accordance with section 553 of title 
                        5, United States Code.
            ``(4) Required action.--Not later than 120 days after the 
        date on which the Secretary receives a proposed regulation or 
        interpretative bulletin submitted by the consensus committee, 
        the Secretary shall--
                    ``(A) approve the proposal and cause the proposed 
                regulation or interpretative bulletin to be published 
                for public comment in accordance with section 553 of 
                title 5, United States Code; or
                    ``(B) reject the proposed regulation or 
                interpretative bulletin and--
                            ``(i) provide to the consensus committee a 
                        written explanation of the reasons for 
                        rejection; and
                            ``(ii) cause to be published in the Federal 
                        Register the rejected proposed regulation or 
                        interpretive bulletin, the reasons for 
                        rejection, and any recommended modifications 
                        set forth.
            ``(5) Authority to act and emergency.--If the Secretary 
        determines, in writing, that such action is necessary to 
        address an issue on which the Secretary determines that the 
        consensus committee has not made a timely recommendation 
        following a request by the Secretary, or in order to respond to 
        an emergency that jeopardizes the public health or safety, the 
        Secretary may issue an order that is not developed under the 
        procedures set forth in subsection (a) or in this subsection, 
        if the Secretary--
                    ``(A) provides to the consensus committee a written 
                description and sets forth the reasons why action is 
                necessary and all supporting documentation; and
                    ``(B) issues the order after notice and an 
                opportunity for public comment in accordance with 
                section 553 of title 5, United States Code, and causes 
                the order to be published in the Federal Register.
            ``(6) Changes.--Any statement of policies, practices, or 
        procedures relating to construction and safety standards, 
        regulations, inspections, monitoring, or other enforcement 
        activities that constitutes a statement of general or 
        particular applicability to implement, interpret, or prescribe 
        law or policy by the Secretary is subject to subsection (a) or 
        this subsection. Any change adopted in violation of subsection 
        (a) or this subsection is void.
            ``(7) Transition.--Until the date on which the consensus 
        committee is appointed pursuant to section 604(a)(3), the 
        Secretary may issue proposed orders, pursuant to notice and 
        comment in accordance with section 553 of title 5, United 
        States Code, that are not developed under the procedures set 
        forth in this section for new and revised standards.'';
            (2) in subsection (d), by adding at the end the following: 
        ``Federal preemption under this subsection shall be broadly and 
        liberally construed to ensure that disparate State or local 
        requirements or standards do not affect the uniformity and 
        comprehensiveness of the standards promulgated under this 
        section nor the Federal superintendence of the manufactured 
        housing industry as established by this title. Subject to 
        section 605, there is reserved to each State the right to 
        establish standards for the stabilizing and support systems of 
        manufactured homes sited within that State, and for the 
        foundations on which manufactured homes sited within that State 
        are installed, and the right to enforce compliance with such 
        standards, except that such standards shall be consistent with 
        the purposes of this title and shall be consistent with the 
        design of the manufacturer.'';
            (3) by striking subsection (e);
            (4) in subsection (f), by striking the subsection 
        designation and all of the matter that precedes paragraph (1) 
        and inserting the following:
    ``(e) Considerations in Establishing and Interpreting Standards and 
Regulations.--The consensus committee, in recommending standards, 
regulations, and interpretations, and the Secretary, in establishing 
standards or regulations or issuing interpretations under this section, 
shall--'';
            (5) by striking subsection (g);
            (6) in the first sentence of subsection (j), by striking 
        ``subsection (f)'' and inserting ``subsection (e)''; and
            (7) by redesignating subsections (h), (i), and (j), as 
        subsections (f), (g), and (h), respectively.

SEC. 605. ABOLISHMENT OF NATIONAL MANUFACTURED HOME ADVISORY COUNCIL; 
              MANUFACTURED HOME INSTALLATION.

    (a) In General.--Section 605 (42 U.S.C. 5404) is amended to read as 
follows:

``SEC. 605. MANUFACTURED HOME INSTALLATION.

    ``(a) Provision of Installation Design and Instructions.--A 
manufacturer shall provide with each manufactured home, design and 
instructions for the installation of the manufactured home that have 
been approved by a design approval primary inspection agency. After 
establishment of model standards under subsection (b)(2), a design 
approval primary inspection agency may not give such approval unless a 
design and instruction provides equal or greater protection than the 
protection provided under such model standards.
    ``(b) Model Manufactured Home Installation Standards.--
            ``(1) Proposed model standards.--Not later than 18 months 
        after the date on which the initial appointments of all of the 
        members of the consensus committee are completed, the consensus 
        committee shall develop and submit to the Secretary proposed 
        model manufactured home installation standards, which shall, to 
        the maximum extent practicable, taking into account the factors 
        described in section 604(e), be consistent with--
                    ``(A) the manufactured home designs that have been 
                approved by a design approval primary inspection 
                agency; and
                    ``(B) the designs and instructions for the 
                installation of manufactured homes provided by 
                manufacturers under subsection (a).
            ``(2) Establishment of model standards.--Not later than 12 
        months after receiving the proposed model standards submitted 
        under paragraph (1), the Secretary shall develop and establish 
        model manufactured home installation standards, which shall, to 
        the maximum extent practicable, taking into account the factors 
        described in section 604(e), be consistent with--
                    ``(A) the manufactured home designs that have been 
                approved by a design approval primary inspection 
                agency; and
                    ``(B) the designs and instructions for the 
                installation of manufactured homes provided by 
                manufacturers under subsection (a).
            ``(3) Factors for consideration.--
                    ``(A) Consensus committee.--In developing the 
                proposed model standards under paragraph (1), the 
                consensus committee shall consider the factors 
                described in section 604(e).
                    ``(B) Secretary.--In developing and establishing 
                the model standards under paragraph (2), the Secretary 
                shall consider the factors described in section 604(e).
            ``(4) Issuance.--The model manufactured home installation 
        standards shall be issued after notice and an opportunity for 
        public comment in accordance with section 553 of title 5, 
        United States Code.
    ``(c) Manufactured Home Installation Programs.--
            ``(1) Protection of manufactured housing residents during 
        initial period.--During the 5-year period beginning on the date 
        of enactment of the Manufactured Housing Improvement Act of 
        2000, no State or manufacturer may establish or implement any 
        installation standards that, in the determination of the 
        Secretary, provide less protection to the residents of 
        manufactured homes than the protection provided by the 
        installation standards in effect with respect to the State or 
        manufacturer, as applicable, on the date of enactment of the 
        Manufactured Housing Improvement Act of 2000.
            ``(2) Installation standards.--
                    ``(A) Establishment of installation program.--Not 
                later than the expiration of the 5-year period 
                described in paragraph (1), the Secretary shall 
                establish an installation program that meets the 
                requirements of paragraph (3) for the enforcement of 
                installation standards in each State described in 
                subparagraph (B) of this paragraph.
                    ``(B) Implementation of installation program.--
                Beginning on the expiration of the 5-year period 
                described in paragraph (1), the Secretary shall 
                implement the installation program established under 
                subparagraph (A) in each State that does not have an 
                installation program established by State law that 
                meets the requirements of paragraph (3).
                    ``(C) Contracting out of implementation.--In 
                carrying out subparagraph (B), the Secretary may 
                contract with an appropriate agent to implement the 
                installation program established under that 
                subparagraph, except that such agent shall not be a 
                person or entity other than a government, nor an 
                affiliate or subsidiary of such a person or entity, 
                that has entered into a contract with the Secretary to 
                implement any other regulatory program under this 
                title.
            ``(3) Requirements.--An installation program meets the 
        requirements of this paragraph if it is a program regulating 
        the installation of manufactured homes that includes--
                    ``(A) installation standards that, in the 
                determination of the Secretary, provide protection to 
                the residents of manufactured homes that equals or 
                exceeds the protection provided to those residents by--
                            ``(i) the model manufactured home 
                        installation standards established by the 
                        Secretary under subsection (b)(2); or
                            ``(ii) the designs and instructions 
                        provided by manufacturers under subsection (a), 
                        if the Secretary determines that such designs 
                        and instructions provide protection to the 
                        residents of manufactured homes that equals or 
                        exceeds the protection provided by the model 
                        manufactured home installation standards 
                        established by the Secretary under subsection 
                        (b)(2);
                    ``(B) the training and licensing of manufactured 
                home installers; and
                    ``(C) inspection of the installation of 
                manufactured homes.''.
    (b) Conforming Amendments.--Section 623(c) (42 U.S.C. 5422(c)) is 
amended--
            (1) in paragraph (10), by striking ``and'' at the end;
            (2) by redesignating paragraph (11) as paragraph (13); and
            (3) by inserting after paragraph (10) the following:
            ``(11) with respect to any State plan submitted on or after 
        the expiration of the 5-year period beginning on the date of 
        enactment of the Manufactured Housing Improvement Act of 2000, 
        provides for an installation program established by State law 
        that meets the requirements of section 605(c)(3);''.

SEC. 606. PUBLIC INFORMATION.

    Section 607 (42 U.S.C. 5406) is amended--
            (1) in subsection (a)--
                    (A) by inserting ``to the Secretary'' after 
                ``submit''; and
                    (B) by adding at the end the following: ``The 
                Secretary shall submit such cost and other information 
                to the consensus committee for evaluation.'';
            (2) in subsection (d), by inserting ``, the consensus 
        committee,'' after ``public''; and
            (3) by striking subsection (c) and redesignating 
        subsections (d) and (e) as subsections (c) and (d), 
        respectively.

SEC. 607. RESEARCH, TESTING, DEVELOPMENT, AND TRAINING.

    (a) In General.--Section 608(a) (42 U.S.C. 5407(a)) is amended--
            (1) in paragraph (2), by striking ``and'' at the end;
            (2) in paragraph (3), by striking the period at the end and 
        inserting a semicolon; and
            (3) by adding at the end the following:
            ``(4) encouraging the government-sponsored housing entities 
        to actively develop and implement secondary market 
        securitization programs for the FHA manufactured home loans and 
        those of other loan programs, as appropriate, thereby promoting 
        the availability of affordable manufactured homes to increase 
        homeownership for all people in the United States; and
            ``(5) reviewing the programs for FHA manufactured home 
        loans and developing any changes to such programs to promote 
        the affordability of manufactured homes, including changes in 
        loan terms, amortization periods, regulations, and 
        procedures.''.
    (b) Definitions.--Section 608 (42 U.S.C. 5407) is amended by adding 
at the end the following:
    ``(c) Definitions.--For purposes of this section, the following 
definitions shall apply:
            ``(1) Government-sponsored housing entities.--The term 
        `government-sponsored housing entities' means the Government 
        National Mortgage Association of the Department of Housing and 
        Urban Development, the Federal National Mortgage Association, 
        and the Federal Home Loan Mortgage Corporation.
            ``(2) FHA manufactured home loan.--The term `FHA 
        manufactured home loan' means a loan that--
                    ``(A) is insured under title I of the National 
                Housing Act and is made for the purpose of financing 
                alterations, repairs, or improvements on or in 
                connection with an existing manufactured home, the 
                purchase of a manufactured home, the purchase of a 
                manufactured home and a lot on which to place the home, 
                or the purchase only of a lot on which to place a 
                manufactured home; or
                    ``(B) is otherwise insured under the National 
                Housing Act and made for or in connection with a 
                manufactured home.''.

SEC. 608. PROHIBITED ACTS.

    Section 610(a) (42 U.S.C. 5409(a)) is amended--
            (1) in paragraph (5), by striking ``or'' at the end;
            (2) in paragraph (6), by striking the period at the end and 
        inserting ``; or''; and
            (3) by adding at the end the following new paragraph:
            ``(7) after the expiration of the period specified in 
        section 605(c)(2)(B), fail to comply with the requirements for 
        the installation program required by section 605 in any State 
        that has not adopted and implemented a State installation 
        program.''.

SEC. 609. FEES.

    Section 620 (42 U.S.C. 5419) is amended to read as follows:

``SEC. 620. AUTHORITY TO COLLECT FEE.

    ``(a) In General.--In carrying out inspections under this title, in 
developing standards and regulations pursuant to section 604, and in 
facilitating the acceptance of the affordability and availability of 
manufactured housing within the Department, the Secretary may--
            ``(1) establish and collect from manufactured home 
        manufacturers a reasonable fee, as may be necessary to offset 
        the expenses incurred by the Secretary in connection with 
        carrying out the responsibilities of the Secretary under this 
        title, including--
                    ``(A) conducting inspections and monitoring;
                    ``(B) providing funding to States for the 
                administration and implementation of approved State 
                plans under section 623, including reasonable funding 
                for cooperative educational and training programs 
                designed to facilitate uniform enforcement under this 
                title, which funds may be paid directly to the States 
                or may be paid or provided to any person or entity 
                designated to receive and disburse such funds by 
                cooperative agreements among participating States, 
                provided that such person or entity is not otherwise an 
                agent of the Secretary under this title;
                    ``(C) providing the funding for a noncareer 
                administrator within the Department to administer the 
                manufactured housing program;
                    ``(D) providing the funding for salaries and 
                expenses of employees of the Department to carry out 
                the manufactured housing program;
                    ``(E) administering the consensus committee as set 
                forth in section 604;
                    ``(F) facilitating the acceptance of the quality, 
                durability, safety, and affordability of manufactured 
                housing within the Department; and
                    ``(G) the administration and enforcement of the 
                installation standards authorized by section 605 in 
                States in which the Secretary is required to implement 
                an installation program after the expiration of the 5-
                year period set forth in section 605(c)(2)(B), and the 
                administration and enforcement of a dispute resolution 
                program described in section 623(c)(12) in States in 
                which the Secretary is required to implement such a 
                program after the expiration of the 5-year period set 
                forth in section 623(g)(2); and
            ``(2) subject to subsection (e), use amounts from any fee 
        collected under paragraph (1) of this subsection to pay 
        expenses referred to in that paragraph, which shall be exempt 
        and separate from any limitations on the Department regarding 
        full-time equivalent positions and travel.
    ``(b) Contractors.--In using amounts from any fee collected under 
this section, the Secretary shall ensure that separate and independent 
contractors are retained to carry out monitoring and inspection work 
and any other work that may be delegated to a contractor under this 
title.
    ``(c) Prohibited Use.--No amount from any fee collected under this 
section may be used for any purpose or activity not specifically 
authorized by this title, unless such activity was already engaged in 
by the Secretary prior to the date of enactment of the Manufactured 
Housing Improvement Act of 2000.
    ``(d) Modification.--Beginning on the date of enactment of the 
Manufactured Housing Improvement Act of 2000, the amount of any fee 
collected under this section may only be modified--
            ``(1) as specifically authorized in advance in an annual 
        appropriations Act; and
            ``(2) pursuant to rulemaking in accordance with section 553 
        of title 5, United States Code.
    ``(e) Appropriation and Deposit of Fees.--
            ``(1) In general.--There is established in the Treasury of 
        the United States a fund to be known as the `Manufactured 
        Housing Fees Trust Fund' for deposit of amounts from any fee 
        collected under this section. Such amounts shall be held in 
        trust for use only as provided in this title.
            ``(2) Appropriation.--Amounts from any fee collected under 
        this section shall be available for expenditure only to the 
        extent approved in advance in an annual appropriations Act. Any 
        change in the expenditure of such amounts shall be specifically 
        authorized in advance in an annual appropriations Act.
            ``(3) Payments to states.--On and after the effective date 
        of the Manufactured Housing Improvement Act of 2000, the 
        Secretary shall continue to fund the States having approved 
        State plans in the amounts which are not less than the 
        allocated amounts, based on the fee distribution system in 
        effect on the day before such effective date.''.

SEC. 610. DISPUTE RESOLUTION.

    Section 623(c) (42 U.S.C. 5422(c)) is amended--
            (1) by inserting after paragraph (11) (as added by the 
        preceding provisions of this title) the following:
            ``(12) with respect to any State plan submitted on or after 
        the expiration of the 5-year period beginning on the date of 
        enactment of the Manufactured Housing Improvement Act of 2000, 
        provides for a dispute resolution program for the timely 
        resolution of disputes between manufacturers, retailers, and 
        installers of manufactured homes regarding responsibility, and 
        for the issuance of appropriate orders, for the correction or 
        repair of defects in manufactured homes that are reported 
        during the 1-year period beginning on the date of installation; 
        and''; and
            (2) by adding at the end the following:
    ``(g) Enforcement of Dispute Resolution Standards.--
            ``(1) Establishment of dispute resolution program.--Not 
        later than the expiration of the 5-year period beginning on the 
        date of enactment of the Manufactured Housing Improvement Act 
        of 2000, the Secretary shall establish a dispute resolution 
        program that meets the requirements of subsection (c)(12) for 
        dispute resolution in each State described in paragraph (2) of 
        this subsection. The order establishing the dispute resolution 
        program shall be issued after notice and opportunity for public 
        comment in accordance with section 553 of title 5, United 
        States Code.
            ``(2) Implementation of dispute resolution program.--
        Beginning on the expiration of the 5-year period described in 
        paragraph (1), the Secretary shall implement the dispute 
        resolution program established under paragraph (1) in each 
        State that has not established a dispute resolution program 
        that meets the requirements of subsection (c)(12).
            ``(3) Contracting out of implementation.--In carrying out 
        paragraph (2), the Secretary may contract with an appropriate 
        agent to implement the dispute resolution program established 
        under paragraph (2), except that such agent shall not be a 
        person or entity other than a government, nor an affiliate or 
        subsidiary of such a person or entity, that has entered into a 
        contract with the Secretary to implement any other regulatory 
        program under this title.''.

SEC. 611. ELIMINATION OF ANNUAL REPORTING REQUIREMENT.

    The National Manufactured Housing Construction and Safety Standards 
Act of 1974 (42 U.S.C. 5401 et seq.) is amended--
            (1) by striking section 626 (42 U.S.C. 5425); and
            (2) by redesignating sections 627 and 628 (42 U.S.C. 5426, 
        5401 note) as sections 626 and 627, respectively.

SEC. 612. EFFECTIVE DATE.

    The amendments made by this title shall take effect on the date of 
enactment of this Act, except that the amendments shall have no effect 
on any order or interpretative bulletin that is issued under the 
National Manufactured Housing Construction and Safety Standards Act of 
1974 (42 U.S.C. 5401 et seq.) and published as a proposed rule pursuant 
to section 553 of title 5, United States Code, on or before that date 
of enactment.

SEC. 613. SAVINGS PROVISIONS.

    (a) Standards and Regulations.--The Federal manufactured home 
construction and safety standards (as such term is defined in section 
603 of the National Manufactured Housing Construction and Safety 
Standards Act of 1974) and all regulations pertaining thereto in effect 
on the day before the date of enactment of this Act shall apply until 
the effective date of a standard or regulation modifying or superseding 
the existing standard or regulation that is promulgated under 
subsection (a) or (b) of section 604 of the National Manufactured 
Housing Construction and Safety Standards Act of 1974, as amended by 
this title.
    (b) Contracts.--Any contract awarded pursuant to a Request for 
Proposal issued before the date of enactment of this Act shall remain 
in effect until the earlier of--
            (1) the expiration of the 2-year period beginning on the 
        date of enactment of this Act; or
            (2) the expiration of the contract term.

                 TITLE VII--RURAL HOUSING HOMEOWNERSHIP

SEC. 701. GUARANTEES FOR REFINANCING OF RURAL HOUSING LOANS.

    Section 502(h) of the Housing Act of 1949 (42 U.S.C. 1472(h)) is 
amended by adding at the end the following new paragraph:
            ``(13) Guarantees for refinancing loans.--
                    ``(A) In General.--Upon the request of the 
                borrower, the Secretary shall, to the extent provided 
                in appropriation Acts and subject to subparagraph (F), 
                guarantee a loan that is made to refinance an existing 
                loan that is made under this section or guaranteed 
                under this subsection, and that the Secretary 
                determines complies with the requirements of this 
                paragraph.
                    ``(B) Interest rate.--To be eligible for a 
                guarantee under this paragraph, the refinancing loan 
                shall have a rate of interest that is fixed over the 
                term of the loan and does not exceed the interest rate 
                of the loan being refinanced.
                    ``(C) Security.--To be eligible for a guarantee 
                under this paragraph, the refinancing loan shall be 
                secured by the same single-family residence as was the 
                loan being refinanced, which shall be owned by the 
                borrower and occupied by the borrower as the principal 
                residence of the borrower.
                    ``(D) Amount.--To be eligible for a guarantee under 
                this paragraph, the principal obligation under the 
                refinancing loan shall not exceed an amount equal to 
                the sum of the balance of the loan being refinanced and 
                such closing costs as may be authorized by the 
                Secretary, which shall include a discount not exceeding 
                200 basis points and an origination fee not exceeding 
                such amount as the Secretary shall prescribe.
                    ``(E) Other requirements.--The provisions of the 
                last sentence of paragraph (1) and paragraphs (2), (5), 
                (6)(A), (7), and (9) shall apply to loans guaranteed 
                under this paragraph, and no other provisions of 
                paragraphs (1) through (12) shall apply to such loans.
                    ``(F) Authority to establish limitation.--The 
                Secretary may establish limitations on the number of 
                loans guaranteed under this paragraph, which shall be 
                based on market conditions and other factors as the 
                Secretary considers appropriate.''.

SEC. 702. PROMISSORY NOTE REQUIREMENT UNDER HOUSING REPAIR LOAN 
              PROGRAM.

    The fourth sentence of section 504(a) of the Housing Act of 1949 
(42 U.S.C. 1474(a)) is amended by striking ``$2,500'' and inserting 
``$7,500''.

SEC. 703. LIMITED PARTNERSHIP ELIGIBILITY FOR FARM LABOR HOUSING LOANS.

    The first sentence of section 514(a) of the Housing Act of 1949 (42 
U.S.C. 1484(a)) is amended by striking ``nonprofit limited 
partnership'' and inserting ``limited partnership''.

SEC. 704. PROJECT ACCOUNTING RECORDS AND PRACTICES.

    Section 515 of the Housing Act of 1949 (42 U.S.C. 1485) is amended 
by striking subsection (z) and inserting the following new subsections:
    ``(z) Accounting and Recordkeeping Requirements.--
            ``(1) Accounting standards.--The Secretary shall require 
        that borrowers in programs authorized by this section maintain 
        accounting records in accordance with generally accepted 
        accounting principles for all projects that receive funds from 
        loans made or guaranteed by the Secretary under this section.
            ``(2) Record retention requirements.--The Secretary shall 
        require that borrowers in programs authorized by this section 
        retain for a period of not less than 6 years and make available 
        to the Secretary in a manner determined by the Secretary, all 
        records required to be maintained under this subsection and 
        other records identified by the Secretary in applicable 
        regulations.
    ``(aa) Double Damages for Unauthorized Use of Housing Projects 
Assets and Income.--
            ``(1) Action to recover assets or income.--
                    ``(A) In general.--The Secretary may request the 
                Attorney General to bring an action in a United States 
                district court to recover any assets or income used by 
                any person in violation of the provisions of a loan 
                made or guaranteed by the Secretary under this section 
                or in violation of any applicable statute or 
                regulation.
                    ``(B) Improper documentation.--For purposes of this 
                subsection, a use of assets or income in violation of 
                the applicable loan, loan guarantee, statute, or 
                regulation shall include any use for which the 
                documentation in the books and accounts does not 
                establish that the use was made for a reasonable 
                operating expense or necessary repair of the project or 
                for which the documentation has not been maintained in 
                accordance with the requirements of the Secretary and 
                in reasonable condition for proper audit.
                    ``(C) Definition.--For the purposes of this 
                subsection, the term `person' means--
                            ``(i) any individual or entity that borrows 
                        funds in accordance with programs authorized by 
                        this section;
                            ``(ii) any individual or entity holding 25 
                        percent or more interest of any entity that 
                        borrows funds in accordance with programs 
                        authorized by this section; and
                            ``(iii) any officer, director, or partner 
                        of an entity that borrows funds in accordance 
                        with programs authorized by this section.
            ``(2) Amount recoverable.--
                    ``(A) In general.--In any judgment favorable to the 
                United States entered under this subsection, the 
                Attorney General may recover double the value of the 
                assets and income of the project that the court 
                determines to have been used in violation of the 
                provisions of a loan made or guaranteed by the 
                Secretary under this section or any applicable statute 
                or regulation, plus all costs related to the action, 
                including reasonable attorney and auditing fees.
                    ``(B) Application of recovered funds.--
                Notwithstanding any other provision of law, the 
                Secretary may use amounts recovered under this 
                subsection for activities authorized under this section 
                and such funds shall remain available for such use 
                until expended.
            ``(3) Time limitation.--Notwithstanding any other provision 
        of law, an action under this subsection may be commenced at any 
        time during the 6-year period beginning on the date that the 
        Secretary discovered or should have discovered the violation of 
        the provisions of this section or any related statutes or 
        regulations.
            ``(4) Continued availability of other remedies.--The remedy 
        provided in this subsection is in addition to and not in 
        substitution of any other remedies available to the Secretary 
        or the United States.''.

SEC. 705. DEFINITION OF RURAL AREA.

    The second sentence of section 520 of the Housing Act of 1949 (42 
U.S.C. 1490) is amended--
            (1) by striking ``1990 decennial census'' and inserting 
        ``1990 or 2000 decennial census''; and
            (2) by striking ``year 2000'' and inserting ``year 2010''.

SEC. 706. OPERATING ASSISTANCE FOR MIGRANT FARMWORKERS PROJECTS.

    The last sentence of section 521(a)(5)(A) of the Housing Act of 
1949 (42 U.S.C. 1490a(a)(5)(A)) is amended by striking ``project'' and 
inserting ``tenant or unit''.

SEC. 707. MULTIFAMILY RENTAL HOUSING LOAN GUARANTEE PROGRAM.

    Section 538 of the Housing Act of 1949 (42 U.S.C. 1490p-2) is 
amended--
            (1) in subsection (c), by inserting ``an Indian tribe,'' 
        after ``thereof,'';
            (2) in subsection (f), by striking paragraph (1) and 
        inserting the following new paragraph:
            ``(1) be made for a period of not less than 25 nor greater 
        than 40 years from the date the loan was made and may provide 
        for amortization of the loan over a period of not to exceed 40 
        years with a final payment of the balance due at the end of the 
        loan term;'';
            (3) in subsection (i)(2), by striking ``(A) conveyance to 
        the Secretary'' and all that follows through ``(C) assignment'' 
        and inserting ``(A) submission to the Secretary of a claim for 
        payment under the guarantee, and (B) assignment'';
            (4) in subsection (s), by adding at the end the following 
        new subsection:
            ``(4) Indian tribe.--The term `Indian tribe' means--
                    ``(A) any Indian tribe, band, nation, or other 
                organized group or community of Indians, including any 
                Alaska Native village or regional or village 
                corporation, as defined by or established pursuant to 
                the Alaska Native Claims Settlement Act (43 U.S.C. 1601 
                et seq.), that is recognized as eligible for the 
                special programs and services provided by the United 
                States to Indians because of their status as Indians 
                pursuant to the Indian Self-Determination and Education 
                Assistance Act of 1975 (25 U.S.C. 450 et seq.); or
                    ``(B) any entity established by the governing body 
                of an Indian tribe described in subparagraph (A) for 
                the purpose of financing economic development.'';
            (5) in subsection (t), by inserting before the period at 
        the end the following: ``to provide guarantees under this 
        section for eligible loans having an aggregate principal amount 
        of $500,000,000'';
            (6) by striking subsection (l);
            (7) by redesignating subsections (m) through (u) as 
        subsections (l) through (t), respectively; and
            (8) by adding at the end the following new subsections:
    ``(u) Fee Authority.--Any amounts collected by the Secretary 
pursuant to the fees charged to lenders for loan guarantees issued 
under this section shall be used to offset costs (as defined by section 
502 of the Congressional Budget Act of 1974 (2 U.S.C. 661a)) of loan 
guarantees made under this section.
    ``(v) Defaults of Loans Secured by Reservation Lands.--In the event 
of a default involving a loan to an Indian tribe or tribal corporation 
made under this section which is secured by an interest in land within 
such tribe's reservation (as determined by the Secretary of the 
Interior), including a community in Alaska incorporated by the 
Secretary of the Interior pursuant to the Indian Reorganization Act (25 
U.S.C. 461 et seq.), the lender shall only pursue liquidation after 
offering to transfer the account to an eligible tribal member, the 
tribe, or the Indian housing authority serving the tribe. If the lender 
subsequently proceeds to liquidate the account, the lender shall not 
sell, transfer, or otherwise dispose of or alienate the property except 
to one of the entities described in the preceding sentence.''.

SEC. 708. ENFORCEMENT PROVISIONS.

    (a) In General.--Title V of the Housing Act of 1949 (42 U.S.C. 1471 
et seq.) is amended by adding after section 542 the following:

``SEC. 543. ENFORCEMENT PROVISIONS.

    ``(a) Equity Skimming.--
            ``(1) Criminal penalty.--Whoever, as an owner, agent, 
        employee, or manager, or is otherwise in custody, control, or 
        possession of property that is security for a loan made or 
        guaranteed under this title, willfully uses, or authorizes the 
        use, of any part of the rents, assets, proceeds, income, or 
        other funds derived from such property, for any purpose other 
        than to meet actual, reasonable, and necessary expenses of the 
        property, or for any other purpose not authorized by this title 
        or the regulations adopted pursuant to this title, shall be 
        fined under title 18, United States Code, or imprisoned not 
        more than 5 years, or both.
            ``(2) Civil sanctions.--An entity or individual who as an 
        owner, operator, employee, or manager, or who acts as an agent 
        for a property that is security for a loan made or guaranteed 
        under this title where any part of the rents, assets, proceeds, 
        income, or other funds derived from such property are used for 
        any purpose other than to meet actual, reasonable, and 
        necessary expenses of the property, or for any other purpose 
        not authorized by this title or the regulations adopted 
        pursuant to this title, shall be subject to a fine of not more 
        than $25,000 per violation. The sanctions provided in this 
        paragraph may be imposed in addition to any other civil 
        sanctions or civil monetary penalties authorized by law.
    ``(b) Civil Monetary Penalties.--
            ``(1) In general.--The Secretary may, after notice and 
        opportunity for a hearing, impose a civil monetary penalty in 
        accordance with this subsection against any individual or 
        entity, including its owners, officers, directors, general 
        partners, limited partners, or employees, who knowingly and 
        materially violate, or participate in the violation of, the 
        provisions of this title, the regulations issued by the 
        Secretary pursuant to this title, or agreements made in 
        accordance with this title, by--
                    ``(A) submitting information to the Secretary that 
                is false;
                    ``(B) providing the Secretary with false 
                certifications;
                    ``(C) failing to submit information requested by 
                the Secretary in a timely manner;
                    ``(D) failing to maintain the property subject to 
                loans made or guaranteed under this title in good 
                repair and condition, as determined by the Secretary;
                    ``(E) failing to provide management for a project 
                which received a loan made or guaranteed under this 
                title that is acceptable to the Secretary; or
                    ``(F) failing to comply with the provisions of 
                applicable civil rights statutes and regulations.
            ``(2) Conditions for renewal or extension.--The Secretary 
        may require that expiring loan or assistance agreements entered 
        into under this title shall not be renewed or extended unless 
        the owner executes an agreement to comply with additional 
        conditions prescribed by the Secretary, or executes a new loan 
        or assistance agreement in the form prescribed by the 
        Secretary.
            ``(3) Amount.--
                    ``(A) In general.--The amount of a civil monetary 
                penalty imposed under this subsection shall not exceed 
                the greater of--
                            ``(i) twice the damages the Department of 
                        Agriculture, the guaranteed lender, or the 
                        project that is secured for a loan under this 
                        section suffered or would have suffered as a 
                        result of the violation; or
                            ``(ii) $50,000 per violation.
                    ``(B) Determination.--In determining the amount of 
                a civil monetary penalty under this subsection, the 
                Secretary shall take into consideration--
                            ``(i) the gravity of the offense;
                            ``(ii) any history of prior offenses by the 
                        violator (including offenses occurring prior to 
                        the enactment of this section);
                            ``(iii) the ability of the violator to pay 
                        the penalty;
                            ``(iv) any injury to tenants;
                            ``(v) any injury to the public;
                            ``(vi) any benefits received by the 
                        violator as a result of the violation;
                            ``(vii) deterrence of future violations; 
                        and
                            ``(viii) such other factors as the 
                        Secretary may establish by regulation.
            ``(4) Payment of penalties.--No payment of a penalty 
        assessed under this section may be made from funds provided 
        under this title or from funds of a project which serve as 
        security for a loan made or guaranteed under this title.
            ``(5) Remedies for noncompliance.--
                    ``(A) Judicial intervention.--If a person or entity 
                fails to comply with a final determination by the 
                Secretary imposing a civil monetary penalty under this 
                subsection, the Secretary may request the Attorney 
                General of the United States to bring an action in an 
                appropriate United States district court to obtain a 
                monetary judgment against such individual or entity and 
                such other relief as may be available. The monetary 
                judgment may, in the court's discretion, include the 
                attorney's fees and other expenses incurred by the 
                United States in connection with the action.
                    ``(B) Reviewability of determination.--In an action 
                under this paragraph, the validity and appropriateness 
                of a determination by the Secretary imposing the 
                penalty shall not be subject to review.''.
    (b) Conforming Amendment.--Section 514 of the Housing Act of 1949 
(42 U.S.C. 1484) is amended by striking subsection (j).

SEC. 709. AMENDMENTS TO TITLE 18 OF UNITED STATES CODE.

    (a) Money Laundering.--Section 1956(c)(7)(D) of title 18, United 
States Code, is amended by inserting ``any violation of section 
543(a)(1) of the Housing Act of 1949 (relating to equity skimming),'' 
after ``coupons having a value of not less than $5,000,''.
    (b) Obstruction of Federal Audits.--Section 1516(a) of title 18, 
United States Code, is amended by inserting ``or relating to any 
property that is security for a loan that is made or guaranteed under 
title V of the Housing Act of 1949,'' before ``shall be fined under 
this title''.

         TITLE VIII--HOUSING FOR ELDERLY AND DISABLED FAMILIES

SEC. 801. SHORT TITLE.

    This title may be cited as the ``Affordable Housing for Seniors and 
Families Act''.

SEC. 802. REGULATIONS.

    The Secretary of Housing and Urban Development (referred to in this 
title as the ``Secretary'') shall issue any regulations to carry out 
this title and the amendments made by this title that the Secretary 
determines may or will affect tenants of federally assisted housing 
only after notice and opportunity for public comment in accordance with 
the procedure under section 553 of title 5, United States Code, 
applicable to substantive rules (notwithstanding subsections (a)(2), 
(b)(B), and (d)(3) of such section). Notice of such proposed rulemaking 
shall be provided by publication in the Federal Register. In issuing 
such regulations, the Secretary shall take such actions as may be 
necessary to ensure that such tenants are notified of, and provided an 
opportunity to participate in, the rulemaking, as required by such 
section 553.

SEC. 803. EFFECTIVE DATE.

    (a) In General.--The provisions of this title and the amendments 
made by this title are effective as of the date of enactment of this 
Act, unless such provisions or amendments specifically provide for 
effectiveness or applicability upon another date certain.
    (b) Effect of Regulatory Authority.--Any authority in this title or 
the amendments made by this title to issue regulations, and any 
specific requirement to issue regulations by a date certain, may not be 
construed to affect the effectiveness or applicability of the 
provisions of this title or the amendments made by this title under 
such provisions and amendments and subsection (a) of this section.

  Subtitle A--Refinancing for Section 202 Supportive Housing for the 
                                Elderly

SEC. 811. PREPAYMENT AND REFINANCING.

    (a) Approval of Prepayment of Debt.--Upon request of the project 
sponsor of a project assisted with a loan under section 202 of the 
Housing Act of 1959 (as in effect before the enactment of the Cranston-
Gonzalez National Affordable Housing Act), the Secretary shall approve 
the prepayment of any indebtedness to the Secretary relating to any 
remaining principal and interest under the loan as part of a prepayment 
plan under which--
            (1) the project sponsor agrees to operate the project until 
        the maturity date of the original loan under terms at least as 
        advantageous to existing and future tenants as the terms 
        required by the original loan agreement or any rental 
        assistance payments contract under section 8 of the United 
        States Housing Act of 1937 (or any other rental housing 
        assistance programs of the Department of Housing and Urban 
        Development, including the rent supplement program under 
        section 101 of the Housing and Urban Development Act of 1965 
        (12 U.S.C. 1701s)) relating to the project; and
            (2) the prepayment may involve refinancing of the loan if 
        such refinancing results in a lower interest rate on the 
        principal of the loan for the project and in reductions in debt 
        service related to such loan.
    (b) Sources of Refinancing.--In the case of prepayment under this 
section involving refinancing, the project sponsor may refinance the 
project through any third party source, including financing by State 
and local housing finance agencies, use of tax-exempt bonds, multi-
family mortgage insurance under the National Housing Act, reinsurance, 
or other credit enhancements, including risk sharing as provided under 
section 542 of the Housing and Community Development Act of 1992 (12 
U.S.C. 1707 note). For purposes of underwriting a loan insured under 
the National Housing Act, the Secretary may assume that any section 8 
rental assistance contract relating to a project will be renewed for 
the term of such loan.
    (c) Use of Unexpended Amounts.--Upon execution of the refinancing 
for a project pursuant to this section, the Secretary shall make 
available at least 50 percent of the annual savings resulting from 
reduced section 8 or other rental housing assistance contracts in a 
manner that is advantageous to the tenants, including--
            (1) not more than 15 percent of the cost of increasing the 
        availability or provision of supportive services, which may 
        include the financing of service coordinators and congregate 
        services;
            (2) rehabilitation, modernization, or retrofitting of 
        structures, common areas, or individual dwelling units;
            (3) construction of an addition or other facility in the 
        project, including assisted living facilities (or, upon the 
        approval of the Secretary, facilities located in the community 
        where the project sponsor refinances a project under this 
        section, or pools shared resources from more than 1 such 
        project); or
            (4) rent reduction of unassisted tenants residing in the 
        project according to a pro rata allocation of shared savings 
        resulting from the refinancing.
    (d) Use of Certain Project Funds.--The Secretary shall allow a 
project sponsor that is prepaying and refinancing a project under this 
section--
            (1) to use any residual receipts held for that project in 
        excess of $500 per individual dwelling unit for not more than 
        15 percent of the cost of activities designed to increase the 
        availability or provision of supportive services; and
            (2) to use any reserves for replacement in excess of $1,000 
        per individual dwelling unit for activities described in 
        paragraphs (2) and (3) of subsection (c).
    (e) Budget Act Compliance.--This section shall be effective only to 
extent or in such amounts that are provided in advance in appropriation 
Acts.

Subtitle B--Authorization of Appropriations for Supportive Housing for 
               the Elderly and Persons With Disabilities

SEC. 821. SUPPORTIVE HOUSING FOR ELDERLY PERSONS.

    Section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) is amended 
by adding at the end the following:
    ``(m) Authorization of Appropriations.--There are authorized to be 
appropriated for providing assistance under this section such sums as 
may be necessary for each of fiscal years 2001, 2002, and 2003.''.

SEC. 822. SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES.

    Section 811 of the Cranston-Gonzalez National Affordable Housing 
Act (42 U.S.C. 8013) is amended by striking subsection (m) and 
inserting the following:
    ``(m) Authorization of Appropriations.--There are authorized to be 
appropriated for providing assistance under this section such sums as 
may be necessary for each of fiscal years 2001, 2002, and 2003.''.

SEC. 823. SERVICE COORDINATORS AND CONGREGATE SERVICES FOR ELDERLY AND 
              DISABLED HOUSING.

    There are authorized to be appropriated to the Secretary such sums 
as may be necessary for each of fiscal years 2001, 2002, and 2003, for 
the following purposes:
            (1) Grants for service coordinators for certain federally 
        assisted multifamily housing.--For grants under section 676 of 
        the Housing and Community Development Act of 1992 (42 U.S.C. 
        13632) for providing service coordinators.
            (2) Congregate services for federally assisted housing.--
        For contracts under section 802 of the Cranston-Gonzalez 
        National Affordable Housing Act (42 U.S.C. 8011) to provide 
        congregate services programs for eligible residents of eligible 
        housing projects under subparagraphs (B) through (D) of 
        subsection (k)(6) of such section.

Subtitle C--Expanding Housing Opportunities for the Elderly and Persons 
                           With Disabilities

                    PART 1--HOUSING FOR THE ELDERLY

SEC. 831. ELIGIBILITY OF FOR-PROFIT LIMITED PARTNERSHIPS.

    Section 202(k)(4) of the Housing Act of 1959 (12 U.S.C. 
1701q(k)(4)) is amended by inserting after subparagraph (C) the 
following:
        ``Such term includes a for-profit limited partnership the sole 
        general partner of which is an organization meeting the 
        requirements under subparagraphs (A), (B), and (C), or a 
        corporation wholly owned and controlled by an organization 
        meeting the requirements under subparagraphs (A), (B), and 
        (C).''.

SEC. 832. MIXED FUNDING SOURCES.

    Section 202(h)(6) of the Housing Act of 1959 (12 U.S.C. 
1701q(h)(6)) is amended--
            (1) by striking ``non-Federal sources'' and inserting 
        ``sources other than this section''; and
            (2) by adding at the end the following new sentence: 
        ``Notwithstanding any other provision of law, assistance 
        amounts provided under this section may be treated as amounts 
        not derived from a Federal grant.''.

SEC. 833. AUTHORITY TO ACQUIRE STRUCTURES.

    Section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) is 
amended--
            (1) in subsection (b), by striking ``from the Resolution 
        Trust Corporation''; and
            (2) in subsection (h)(2)--
                    (A) in the paragraph heading, by striking ``RTC 
                properties'' and inserting ``Acquisition''; and
                    (B) by striking ``from the Resolution'' and all 
                that follows through ``Insurance Act''.

SEC. 834. USE OF PROJECT RESERVES.

    Section 202(j) of the Housing Act of 1959 (12 U.S.C. 1701q(j)) is 
amended by adding at the end the following:
            ``(8) Use of project reserves.--Amounts for project 
        reserves for a project assisted under this section may be used 
        for costs, subject to reasonable limitations as the Secretary 
        determines appropriate, for reducing the number of dwelling 
        units in the project. Such use shall be subject to the approval 
        of the Secretary to ensure that the use is designed to retrofit 
        units that are currently obsolete or unmarketable.''.

SEC. 835. COMMERCIAL ACTIVITIES.

    Section 202(h)(1) of the Housing Act of 1959 (12 U.S.C. 
1701q(h)(1)) is amended by adding at the end the following: ``Neither 
this section nor any other provision of law may be construed as 
prohibiting or preventing the location and operation, in a project 
assisted under this section, of commercial facilities for the benefit 
of residents of the project and the community in which the project is 
located, except that assistance made available under this section may 
not be used to subsidize any such commercial facility.''.

             PART 2--HOUSING FOR PERSONS WITH DISABILITIES

SEC. 841. ELIGIBILITY OF FOR-PROFIT LIMITED PARTNERSHIPS.

    Section 811(k)(6) of the Housing Act of 1959 (42 U.S.C. 8013(k)(6)) 
is amended by inserting after subparagraph (D) the following:
        ``Such term includes a for-profit limited partnership the sole 
        general partner of which is an organization meeting the 
        requirements under subparagraphs (A), (B), (C), and (D) or a 
        corporation wholly owned and controlled by an organization 
        meeting the requirements under subparagraphs (A), (B), (C), and 
        (D).''.

SEC. 842. MIXED FUNDING SOURCES.

    Section 811(h)(5) of the Cranston-Gonzalez National Affordable 
Housing Act (42 U.S.C. 8013(h)(5)) is amended--
            (1) by striking ``non-Federal sources'' and inserting 
        ``sources other than this section''; and
            (2) by adding at the end the following new sentence: 
        ``Notwithstanding any other provision of law, assistance 
        amounts provided under this section may be treated as amounts 
        not derived from a Federal grant.''.

SEC. 843. TENANT-BASED ASSISTANCE.

    Section 811 of the Cranston-Gonzalez National Affordable Housing 
Act (42 U.S.C. 8013) is amended--
            (1) in subsection (d), by striking paragraph (4) and 
        inserting the following:
            ``(4) Tenant-based rental assistance.--
                    ``(A) Administering entities.--Tenant-based rental 
                assistance provided under subsection (b)(1) may be 
                provided only through a public housing agency that has 
                submitted and had approved an plan under section 7(d) 
                of the United States Housing Act of 1937 (42 U.S.C. 
                1437e(d)) that provides for such assistance, or through 
                a private nonprofit organization. A public housing 
                agency shall be eligible to apply under this section 
                only for the purposes of providing such tenant-based 
                rental assistance.
                    ``(B) Program rules.--Tenant-based rental 
                assistance under subsection (b)(1) shall be made 
                available to eligible persons with disabilities and 
                administered under the same rules that govern tenant-
                based rental assistance made available under section 8 
                of the United States Housing Act of 1937, except that 
                the Secretary may waive or modify such rules, but only 
                to the extent necessary to provide for administering 
                such assistance under subsection (b)(1) through private 
                nonprofit organizations rather than through public 
                housing agencies.
                    ``(C) Allocation of assistance.--In determining the 
                amount of assistance provided under subsection (b)(1) 
                for a private nonprofit organization or public housing 
                agency, the Secretary shall consider the needs and 
                capabilities of the organization or agency, in the case 
                of a public housing agency, as described in the plan 
                for the agency under section 7 of the United States 
                Housing Act of 1937.''; and
            (2) in subsection (l)(1)--
                    (A) by striking ``subsection (b)'' and inserting 
                ``subsection (b)(2)''; and
                    (B) by striking the last comma and all that follows 
                through ``subsection (n)''.

SEC. 844. USE OF PROJECT RESERVES.

    Section 811(j) of the Cranston-Gonzalez National Affordable Housing 
Act (42 U.S.C. 8013(j)) is amended by adding at the end the following:
            ``(7) Use of project reserves.--Amounts for project 
        reserves for a project assisted under this section may be used 
        for costs, subject to reasonable limitations as the Secretary 
        determines appropriate, for reducing the number of dwelling 
        units in the project. Such use shall be subject to the approval 
        of the Secretary to ensure that the use is designed to retrofit 
        units that are currently obsolete or unmarketable.''.

SEC. 845. COMMERCIAL ACTIVITIES.

    Section 811(h)(1) of the Cranston-Gonzalez National Affordable 
Housing Act (42 U.S.C. 8013(h)(1)) is amended by adding at the end the 
following: ``Neither this section nor any other provision of law may be 
construed as prohibiting or preventing the location and operation, in a 
project assisted under this section, of commercial facilities for the 
benefit of residents of the project and the community in which the 
project is located, except that assistance made available under this 
section may not be used to subsidize any such commercial facility.''.

                        PART 3--OTHER PROVISIONS

SEC. 851. SERVICE COORDINATORS.

    (a) Increased Flexibility for Use of Service Coordinators in 
Certain Federally Assisted Housing.--Section 676 of the Housing and 
Community Development Act of 1992 (42 U.S.C. 13632) is amended--
            (1) in the section heading, by striking ``multifamily 
        housing assisted under national housing act'' and inserting 
        ``certain federally assisted housing'';
            (2) in subsection (a)--
                    (A) in the first sentence, by striking ``(E) and 
                (F)'' and inserting ``(B), (C), (D), (E), (F), and 
                (G)''; and
                    (B) in the last sentence--
                            (i) by striking ``section 661'' and 
                        inserting ``section 671''; and
                            (ii) by adding at the end the following: 
                        ``A service coordinator funded with a grant 
                        under this section for a project may provide 
                        services to low-income elderly or disabled 
                        families living in the vicinity of such 
                        project.'';
            (3) in subsection (d)--
                    (A) by striking ``(E) or (F)'' and inserting ``(B), 
                (C), (D), (E), (F), or (G)''; and
                    (B) by striking ``section 661'' and inserting 
                ``section 671''; and
            (4) by striking subsection (c) and redesignating subsection 
        (d) (as amended by paragraph (3) of this subsection) as 
        subsection (c).
    (b) Requirement To Provide Service Coordinators.--Section 671 of 
the Housing and Community Development Act of 1992 (42 U.S.C. 13631) is 
amended--
            (1) in the first sentence of subsection (a), by striking 
        ``to carry out this subtitle pursuant to the amendments made by 
        this subtitle'' and inserting the following: ``for providing 
        service coordinators under this section'';
            (2) in subsection (d), by inserting ``)'' after ``section 
        683(2)''; and
            (3) by adding at the end following:
    ``(e) Services for Low-Income Elderly or Disabled Families Residing 
in Vicinity of Certain Projects.--To the extent only that this section 
applies to service coordinators for covered federally assisted housing 
described in subparagraphs (B), (C), (D), (E), (F), and (G) of section 
683(2), any reference in this section to elderly or disabled residents 
of a project shall be construed to include low-income elderly or 
disabled families living in the vicinity of such project.''.
    (c) Protection Against Telemarketing Fraud.--
            (1) Supportive housing for the elderly.--The first sentence 
        of section 202(g)(1) of the Housing Act of 1959 (12 U.S.C. 
        1701q(g)(1)) is amended by striking ``and (F)'' and inserting 
        the following: ``(F) providing education and outreach regarding 
        telemarketing fraud, in accordance with the standards issued 
        under section 671(f) of the Housing and Community Development 
        Act of 1992 (42 U.S.C. 13631(f)); and (G)''.
            (2) Other federally assisted housing.--Section 671 of the 
        Housing and Community Development Act of 1992 (42 U.S.C. 
        13631), as amended by subsection (b) of this section, is 
        further amended--
                    (A) in the first sentence of subsection (c), by 
                inserting after ``response,'' the following: 
                ``education and outreach regarding telemarketing fraud 
                in accordance with the standards issued under 
                subsection (f),''; and
                    (B) by adding at the end the following:
    ``(f) Protection Against Telemarketing Fraud.--
            ``(1) In general.--The Secretary, in coordination with the 
        Secretary of Health and Human Services, shall establish 
        standards for service coordinators in federally assisted 
        housing who are providing education and outreach to elderly 
        persons residing in such housing regarding telemarketing fraud. 
        The standards shall be designed to ensure that such education 
        and outreach informs such elderly persons of the dangers of 
        telemarketing fraud and facilitates the investigation and 
        prosecution of telemarketers engaging in fraud against such 
        residents.
            ``(2) Contents.--The standards established under this 
        subsection shall require that any such education and outreach 
        be provided in a manner that--
                    ``(A) informs such residents of--
                            ``(i) the prevalence of telemarketing fraud 
                        targeted against elderly persons;
                            ``(ii) how telemarketing fraud works;
                            ``(iii) how to identify telemarketing 
                        fraud;
                            ``(iv) how to protect themselves against 
                        telemarketing fraud, including an explanation 
                        of the dangers of providing bank account, 
                        credit card, or other financial or personal 
                        information over the telephone to unsolicited 
                        callers;
                            ``(v) how to report suspected attempts at 
                        telemarketing fraud; and
                            ``(vi) their consumer protection rights 
                        under Federal law;
                    ``(B) provides such other information as the 
                Secretary considers necessary to protect such residents 
                against fraudulent telemarketing; and
                    ``(C) disseminates the information provided by 
                appropriate means, and in determining such appropriate 
                means, the Secretary shall consider on-site 
                presentations at federally assisted housing, public 
                service announcements, a printed manual or pamphlet, an 
                Internet website, and telephone outreach to residents 
                whose names appear on `mooch lists' confiscated from 
                fraudulent telemarketers.''.

          Subtitle D--Preservation of Affordable Housing Stock

SEC. 861. SECTION 236 ASSISTANCE.

    (a) Extension of Authority to Retain Excess Charges.--Section 
236(g) of the National Housing Act (12 U.S.C. 1715z-1(g)), as amended 
by the Departments of Veterans Affairs and Housing and Urban 
Development, and Independent Agencies Appropriations Act, 2001, is 
amended--
            (1) in paragraph (2), by striking ``Subject to paragraph 
        (3) and notwithstanding'' and inserting ``Notwithstanding''; 
        and
            (2) by striking paragraph (3) and redesignating paragraph 
        (4) as paragraph (3).
    (b) Treatment of Excess Charges Previously Collected.--Any excess 
charges that a project owner may retain pursuant to the amendments made 
by subsections (b) and (c) of section 532 of the Departments of 
Veterans Affairs and Housing and Urban Development, and Independent 
Agencies Appropriations Act, 2000 (Public Law 106-74; 113 Stat. 1116) 
that have been collected by such owner since the date of the enactment 
of such Appropriations Act and that such owner has not remitted to the 
Secretary of Housing and Urban Development may be retained by such 
owner unless such Secretary otherwise provides. To the extent that a 
project owner has remitted such excess charges to the Secretary since 
such date of enactment, the Secretary may return to the relevant 
project owner any such excess charges remitted. Notwithstanding any 
other provision of law, amounts in the Rental Housing Assistance Fund, 
or heretofore or subsequently transferred from the Rental Housing 
Assistance Fund to the Flexible Subsidy Fund, shall be available to 
make such return of excess charges previously remitted to the 
Secretary, including the return of excess charges referred to in 
section 532(e) of such Appropriations Act.

               TITLE IX--OTHER RELATED HOUSING PROVISIONS

SEC. 901. EXTENSION OF LOAN TERM FOR MANUFACTURED HOME LOTS.

    Section 2(b)(3)(E) of the National Housing Act (12 U.S.C. 
1703(b)(3)(E)) is amended by striking ``fifteen'' and inserting 
``twenty''.

SEC. 902. USE OF SECTION 8 VOUCHERS FOR OPT-OUTS.

    (a) In General.--Section 8(t)(2) of the United States Housing Act 
of 1937 (42 U.S.C. 1437f(t)(2)), as amended by the Departments of 
Veterans Affairs and Housing and Urban Development, and Independent 
Agencies Appropriations Act, 2001, is amended by striking ``fiscal year 
1996'' and inserting ``fiscal year 1994''.
    (b) Effective Date.--The amendment under subsection (a) shall be 
made and shall apply--
            (1) upon the enactment of this Act, if the Departments of 
        Veterans Affairs and Housing and Urban Development, and 
        Independent Agencies Appropriations Act, 2001, is enacted 
        before the enactment of this Act; and
            (2) immediately after the enactment of such appropriations 
        Act, if such appropriations Act is enacted after the enactment 
        of this Act.

SEC. 903. MAXIMUM PAYMENT STANDARD FOR ENHANCED VOUCHERS.

    (a) In General.--Section 8(t)(1)(B) of the United States Housing 
Act of 1937 (42 U.S.C. 1437f(t)(1)(B)), as amended by the Departments 
of Veterans Affairs and Housing and Urban Development, and Independent 
Agencies Appropriations Act, 2001, is amended by inserting before the 
semicolon at the end the following: ``, except that a limit shall not 
be considered reasonable for purposes of this subparagraph if it 
adversely affects such assisted families''.
    (b) Effective Date.--The amendment under subsection (a) shall be 
made and shall apply--
            (1) upon the enactment of this Act, if the Departments of 
        Veterans Affairs and Housing and Urban Development, and 
        Independent Agencies Appropriations Act, 2001, is enacted 
        before the enactment of this Act; and
            (2) immediately after the enactment of such appropriations 
        Act, if such appropriations Act is enacted after the enactment 
        of this Act.

SEC. 904. USE OF SECTION 8 ASSISTANCE BY ``GRAND-FAMILIES'' TO RENT 
              DWELLING UNITS IN ASSISTED PROJECTS.

    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 
new paragraph:
            ``(6) Waiver of qualifying rent.--
                    ``(A) In general.--For the purpose of providing 
                affordable housing appropriate for families described 
                in subparagraph (B), the Secretary may, upon the 
                application of the project owner, waive the 
                applicability of subparagraph (A) of paragraph (1) with 
                respect to a dwelling unit if--
                            ``(i) the unit is occupied by such a 
                        family, on whose behalf tenant-based assistance 
                        is provided under section 8 of the United 
                        States Housing Act of 1937 (42 U.S.C. 1437f);
                            ``(ii) the rent for the unit is not greater 
                        than the existing fair market rent for 
                        comparable units in the area, as established by 
                        the Secretary under section 8 of the United 
                        States Housing Act of 1937; and
                            ``(iii) the Secretary determines that the 
                        waiver, together with waivers under this 
                        paragraph for other dwelling units in the 
                        project, will result in the use of amounts 
                        described in clause (iii) in an effective 
                        manner that will improve the provision of 
                        affordable housing for such families.
                    ``(B) Eligible families.--A family described in 
                this subparagraph is a family that consists of at least 
                one elderly person (who is the head of household) and 
                one or more of such person's grand children, great 
                grandchildren, great nieces, great nephews, or great 
                great grandchildren (as defined by the Secretary), but 
                does not include any parent of such grandchildren, 
                great grandchildren, great nieces, great nephews, or 
                great great grandchildren. Such term includes any such 
                grandchildren, great grandchildren, great nieces, great 
                nephews, or great great grandchildren who have been 
                legally adopted by such elderly person.''.

               TITLE X--FEDERAL RESERVE BOARD PROVISIONS

SEC. 1001. FEDERAL RESERVE BOARD BUILDINGS.

    The 3rd undesignated paragraph of section 10 of the Federal Reserve 
Act (12 U.S.C. 243) is amended--
            (1) by inserting after the 1st sentence the following new 
        sentence: ``After September 1, 2000, the Board may also use 
        such assessments to acquire, in its own name, a site or 
        building (in addition to the facilities existing on such date) 
        to provide for the performance of the functions of the 
        Board.''; and
            (2) in the sentences following the sentence added by the 
        amendment made by paragraph (1) of this section--
                    (A) by striking ``the site'' and inserting ``any 
                site''; and
                    (B) by inserting ``or buildings'' after 
                ``building'' each place such term appears.

SEC. 1002. POSITIONS OF BOARD OF GOVERNORS OF THE FEDERAL RESERVE 
              SYSTEM ON THE EXECUTIVE SCHEDULE.

    (a) In General.--
            (1) Positions at level i of the executive schedule.--
        Section 5312 of title 5, United States Code, is amended by 
        adding at the end the following:
            ``Chairman, Board of Governors of the Federal Reserve 
        System.''.
            (2) Positions at level ii of the executive schedule.--
        Section 5313 of title 5, United States Code, is amended--
                    (A) by striking ``Chairman, Board of Governors of 
                the Federal Reserve System.''; and
                    (B) by adding at the end the following:
            ``Members, Board of Governors of the Federal Reserve 
        System.''.
            (3) Positions at level iii of the executive schedule.--
        Section 5314 of title 5, United States Code, is amended by 
        striking ``Members, Board of Governors of the Federal Reserve 
        System.''.
    (b) Effective Date.--This section and the amendments made by this 
section shall take effect on the first day of the first pay period for 
the Chairman and Members of the Board of Governors of the Federal 
Reserve System beginning on or after the date of enactment of this Act.

SEC. 1003. AMENDMENTS TO THE FEDERAL RESERVE ACT.

    (a) Repeal.--Section 2A of the Federal Reserve Act (12 U.S.C. 225a) 
is amended by striking all after the first sentence.
    (b) Appearances Before and Reports to the Congress.--
            (1) In general.--The Federal Reserve Act (12 U.S.C. 221 et 
        seq.) is amended by inserting after section 2A the following 
        new section:

``SEC. 2B. APPEARANCES BEFORE AND REPORTS TO THE CONGRESS.

    ``(a) Appearances Before the Congress.--
            (1) In general.--The Chairman of the Board shall appear 
        before the Congress at semi-annual hearings, as specified in 
        paragraph (2), regarding--
                    ``(A) the efforts, activities, objectives and plans 
                of the Board and the Federal Open Market Committee with 
                respect to the conduct of monetary policy; and
                    ``(B) economic developments and prospects for the 
                future described in the report required in subsection 
                (b).
            ``(2) Schedule.--The Chairman of the Board shall appear--
                    ``(A) before the Committee on Banking and Financial 
                Services of the House of Representatives on or about 
                February 20 of even numbered calendar years and on or 
                about July 20 of odd numbered calendar years;
                    ``(B) before the Committee on Banking, Housing, and 
                Urban Affairs of the Senate on or about July 20 of even 
                numbered calendar years and on or about February 20 of 
                odd numbered calendar years; and
                    ``(C) before either Committee referred to in 
                subparagraph (A) or (B), upon request, following the 
                scheduled appearance of the Chairman before the other 
                Committee under subparagraph (A) or (B).
    ``(b) Congressional Report.--The Board shall, concurrent with each 
semi-annual hearing required by this section, submit a written report 
to the Committee on Banking, Housing, and Urban Affairs of the Senate 
and the Committee on Banking and Financial Services of the House of 
Representatives, containing a discussion of the conduct of monetary 
policy and economic developments and prospects for the future, taking 
into account past and prospective developments in employment, 
unemployment, production, investment, real income, productivity, 
exchange rates, international trade and payments, and prices.''.

              TITLE XI--BANKING AND HOUSING AGENCY REPORTS

SEC. 1101. SHORT TITLE.

    This title may be cited as the ``Federal Reporting Act of 2000''.

SEC. 1102. PRESERVATION OF CERTAIN REPORTING REQUIREMENTS.

    Section 3003(a)(1) of the Federal Reports Elimination and Sunset 
Act of 1995 (31 U.S.C. 1113 note) shall not apply to any report 
required to be submitted under any of the following provisions of law:
            (1) Section 3 of the Employment Act of 1946 (15 U.S.C. 
        1022).
            (2) Section 309 of the Defense Production Act of 1950 (50 
        U.S.C. App. 2099).
            (3) Section 603 of the Public Works and Economic 
        Development Act of 1965 (42 U.S.C. 3213).
            (4) Section 7(o)(1) of the Department of Housing and Urban 
        Development Act (42 U.S.C. 3535(o)(1)).
            (5) Section 540(c) of the National Housing Act (12 U.S.C. 
        1735f-18(c)).
            (6) Paragraphs (2) and (6) of section 808(e) of the Civil 
        Rights Act of 1968 (42 U.S.C. 3608(e)).
            (7) Section 1061 of the Housing and Community Development 
        Act of 1992 (42 U.S.C. 4856).
            (8) Section 203(v) of the National Housing Act (12 U.S.C. 
        1709(v)), as added by section 504 of the Housing and Community 
        Development Act of 1992 (Public Law 102-550; 106 Stat. 3780).
            (9) Section 802 of the Housing Act of 1954 (12 U.S.C. 
        1701o).
            (10) Section 8 of the Department of Housing and Urban 
        Development Act (42 U.S.C. 3536).
            (11) Section 1320 of the National Flood Insurance Act of 
        1968 (42 U.S.C. 4027).
            (12) Section 4(e)(2) of the Department of Housing and Urban 
        Development Act (42 U.S.C. 3533(e)(2).
            (13) Section 205(g) of the National Housing Act (12 U.S.C. 
        1711(g)).
            (14) Section 701(c)(1) of the International Financial 
        Institutions Act (22 U.S.C. 262d(c)(1)).
            (15) Paragraphs (1) and (2) of section 5302(c) of title 31, 
        United States Code.
            (16) Section 18(f)(7) of the Federal Trade Commission Act. 
        (15 U.S.C. 57a(f)(7)).
            (17) Section 333 of the Revised Statutes of the United 
        States (12 U.S.C. 14).
            (18) Section 3(g) of the Home Owners' Loan Act (12 U.S.C. 
        1462a(g)).
            (19) Section 304 of the Appalachian Regional Development 
        Act of 1965 (40 U.S.C. App. 304).
            (20) Sections 2(b)(1)(A), 8(a), 8(c), 10(g)(1), and 11(c) 
        of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(A), 
        635g(a), 635g(c), 635i-3(g), and 635i-5(c)).
            (21) Section 17(a) of the Federal Deposit Insurance Act (12 
        U.S.C. 1827(a)).
            (22) Section 13 of the Federal Financing Bank Act of 1973 
        (12 U.S.C. 2292).
            (23) Section 2B(d) of the Federal Home Loan Bank Act (12 
        U.S.C. 1422b(d)).
            (24) Section 1002(b) of Financial Institutions Reform, 
        Recovery, and Enforcement Act of 1989 (12 U.S.C. 1811 note).
            (25) Section 8 of the Fair Credit and Charge Card 
        Disclosure Act of 1988 (15 U.S.C. 1637 note).
            (26) Section 136(b)(4)(B) of the Truth in Lending Act (15 
        U.S.C. 1646(b)(4)(B)).
            (27) Section 707 of the Equal Credit Opportunity Act (15 
        U.S.C. 1691f).
            (28) Section 114 of the Truth in Lending Act (15 U.S.C. 
        1613).
            (29) The seventh undesignated paragraph of section 10 of 
        the Federal Reserve Act (12 U.S.C. 247).
            (30) The tenth undesignated paragraph of section 10 of the 
        Federal Reserve Act (12 U.S.C. 247a).
            (31) Section 815 of the Fair Debt Collection Practices Act 
        (15 U.S.C. 1692m).
            (32) Section 102(d) of the Federal Credit Union Act (12 
        U.S.C. 1752a(d)).
            (33) Section 21B(i) of the Federal Home Loan Bank Act (12 
        U.S.C. 1441b(i)).
            (34) Section 607(a) of the Housing and Community 
        Development Amendments of 1978 (42 U.S.C. 8106(a)).
            (35) Section 708(l) of the Defense Production Act of 1950 
        (50 U.S.C. Ap. 2158(l)).
            (36) Section 2546 of the Comprehensive Thrift and Bank 
        Fraud Prosecution and Taxpayer Recovery Act of 1990 (28 U.S.C. 
        522 note).
            (37) Section 202(b)(8) of the National Housing Act (12 
        U.S.C. 1708(b)(8)).

SEC. 1103. COORDINATION OF REPORTING REQUIREMENTS.

    (a) Federal Deposit Insurance Corporation.--Section 17(a) of the 
Federal Deposit Insurance Act (12 U.S.C. 1827(a)) is amended by adding 
at the end the following new paragraph:
            ``(3) Coordination with other report requirements.--The 
        report required under this subsection shall include the report 
        required under section 18(f)(7) of the Federal Trade Commission 
        Act.''.
    (b) Board of Governors of the Federal Reserve System.--The 7th 
undesignated paragraph of section 10 of the Federal Reserve Act (12 
U.S.C. 247) is amended by adding at the end the following new sentence: 
``The report required under this paragraph shall include the reports 
required under section 707 of the Equal Credit Opportunity Act, section 
18(f)(7) of the Federal Trade Commission Act, section 114 of the Truth 
in Lending Act, and the 10th undesignated paragraph of this section.''.
    (c) Comptroller of the Currency.--Section 333 of the Revised 
Statutes of the United States (12 U.S.C. 14) is amended by adding at 
the end the following new sentence: ``The report required under this 
section shall include the report required under section 18(f)(7) of the 
Federal Trade Commission Act.''.
    (d) Export-Import Bank.--
            (1) In general.-- Section 2(b)(1)(A) of the Export-Import 
        Bank Act of 1945 (12 U.S.C. 635(b)(1)(A)) is amended--
                    (A) by striking ``a annual'' and inserting ``an 
                annual''; and
                    (B) by adding at the end the following new 
                sentence: ``The annual report required under this 
                subparagraph shall include the report required under 
                section 10(g).''.
            (2) Technical and conforming amendment.--Section 10(g)(1) 
        of the Export-Import Bank Act of 1945 (12 U.S.C. 635i-3(g)(1)) 
        is amended--
                    (A) by striking ``On or'' and all that follows 
                through ``the Bank'' and inserting ``The Bank''; and
                    (B) by striking ``a report'' and inserting ``an 
                annual report''.
    (e) Department of Housing and Urban Development.--Section 8 of the 
Department of Housing and Urban Development Act (42 U.S.C. 3536) is 
amended by adding at the end the following new sentence: ``The report 
required under this section shall include the reports required under 
paragraphs (2) and (6) of section 808(e) of the Civil Rights Act of 
1968, the reports required under subsections (a) and (b) of section 
1061 of the Housing and Community Development Act of 1992, the report 
required under section 802 of the Housing Act of 1954, and the report 
required under section 4(e)(2) of this Act.''.
    (f) Federal Housing Administration.--Section 203(v) of the National 
Housing Act (12 U.S.C. 1709(v)), as added by section 504 of the Housing 
and Community Development Act of 1992, is amended by adding at the end 
the following new sentence:
``The report required under this subsection shall include the report 
required under section 540(c) and the report required under section 
205(g).''.
    (g) International Financial Institutions Act.--Section 701(c)(1) of 
the International Financial Institutions Act (22 U.S.C. 262d(c)(1)) is 
amended by striking ``Not later'' and all that follows through 
``quarterly'' and inserting ``The Secretary of the Treasury shall 
report annually''.

SEC. 1104. ELIMINATION OF CERTAIN REPORTING REQUIREMENTS.

    (a) Export-Import Bank.--The Export-Import Bank Act of 1945 (12 
U.S.C. 635 et seq.) is amended--
            (1) in section 2(b)(1)(D)--
                    (A) by striking ``(i)''; and
                    (B) by striking clause (ii);
            (2) in section 2(b)(8), by striking the last sentence;
            (3) in section 6(b), by striking paragraph (2) and 
        redesignating paragraph (3) as paragraph (2); and
            (4) in section 8, by striking subsections (b) and (d) and 
        redesignating subsections (c) and (e) as subsections (b) and 
        (c), respectively.
    (b) Federal Deposit Insurance Corporation.--Section 17 of the 
Federal Deposit Insurance Act (12 U.S.C. 1827) is amended by striking 
subsection (h).

                 TITLE XII--FINANCIAL REGULATORY RELIEF

SEC. 1200. SHORT TITLE.

    This title may be cited as the ``Financial Regulatory Relief and 
Economic Efficiency Act of 2000''.

    Subtitle A--Improving Monetary Policy and Financial Institution 
                          Management Practices

SEC. 1201. REPEAL OF SAVINGS ASSOCIATION LIQUIDITY PROVISION.

    (a) Repeal of Liquidity Provision.--Section 6 of the Home Owners' 
Loan Act (12 U.S.C. 1465) is hereby repealed.
    (b) Conforming Amendments.--
            (1) Section 5.--Section 5(c)(1)(M) of the Home Owners' Loan 
        Act (12 U.S.C. 1464(c)(1)(M)) is amended to read as follows:
                    ``(M) Liquidity investments.--Investments (other 
                than equity investments), identified by the Director, 
                for liquidity purposes, including cash, funds on 
                deposit at a Federal reserve bank or a Federal home 
                loan bank, or bankers' acceptances.''.
            (2) Section 10.--Section 10(m)(4)(B)(iii) of the Home 
        Owners' Loan Act (12 U.S.C. 1467a(m)(4)(B)(iii)) is amended by 
        inserting ``as in effect on the day before the date of the 
        enactment of the Financial Regulatory Relief and Economic 
        Efficiency Act of 2000,'' after ``Loan Act,''.

SEC. 1202. NONCONTROLLING INVESTMENTS BY SAVINGS ASSOCIATION HOLDING 
              COMPANIES.

    Section 10(e)(1)(A)(iii) of the Home Owners' Loan Act (12 U.S.C. 
1467a(e)(1)(A)(iii)) is amended--
            (1) by inserting ``, except with the prior written approval 
        of the Director,'' after ``or to retain''; and
            (2) by striking ``so acquire or retain'' and inserting 
        ``acquire or retain, and the Director may not authorize 
        acquisition or retention of,''.

SEC. 1203. REPEAL OF DEPOSIT BROKER NOTIFICATION AND RECORDKEEPING 
              REQUIREMENT.

    Section 29A of the Federal Deposit Insurance Act (12 U.S.C. 1831f-
1) is hereby repealed.

SEC. 1204. EXPEDITED PROCEDURES FOR CERTAIN REORGANIZATIONS.

    The National Bank Consolidation and Merger Act (12 U.S.C. 215 et 
seq.) is amended--
            (1) by redesignating section 5 as section 7; and
            (2) by inserting after section 4 the following new section:

``SEC. 5. EXPEDITED PROCEDURES FOR CERTAIN REORGANIZATIONS.

    ``(a) In General.--A national bank may, with the approval of the 
Comptroller, pursuant to rules and regulations promulgated by the 
Comptroller, and upon the affirmative vote of the shareholders of such 
bank owning at least two-thirds of its capital stock outstanding, 
reorganize so as to become a subsidiary of a bank holding company or of 
a company that will, upon consummation of such reorganization, become a 
bank holding company.
    ``(b) Reorganization Plan.--A reorganization authorized under 
subsection (a) shall be carried out in accordance with a reorganization 
plan that--
            ``(1) specifies the manner in which the reorganization 
        shall be carried out;
            ``(2) is approved by a majority of the entire board of 
        directors of the national bank;
            ``(3) specifies--
                    ``(A) the amount of cash or securities of the bank 
                holding company, or both, or other consideration to be 
                paid to the shareholders of the reorganizing bank in 
                exchange for their shares of stock of the bank;
                    ``(B) the date as of which the rights of each 
                shareholder to participate in such exchange will be 
                determined; and
                    ``(C) the manner in which the exchange will be 
                carried out; and
            ``(4) is submitted to the shareholders of the reorganizing 
        bank at a meeting to be held on the call of the directors in 
        accordance with the procedures prescribed in connection with a 
        merger of a national bank under section 3.
    ``(c) Rights of Dissenting Shareholders.--If, pursuant to this 
section, a reorganization plan has been approved by the shareholders 
and the Comptroller, any shareholder of the bank who has voted against 
the reorganization at the meeting referred to in subsection (b)(4), or 
has given notice in writing at or prior to that meeting to the 
presiding officer that the shareholder dissents from the reorganization 
plan, shall be entitled to receive the value of his or her shares, as 
provided by section 3 for the merger of a national bank.
    ``(d) Effect of Reorganization.--The corporate existence of a 
national bank that reorganizes in accordance with this section shall 
not be deemed to have been affected in any way by reason of such 
reorganization.
    ``(e) Approval Under the Bank Holding Company Act.--This section 
does not affect in any way the applicability of the Bank Holding 
Company Act of 1956 to a transaction described in subsection (a).''.

SEC. 1205. NATIONAL BANK DIRECTORS.

    (a) Amendments to the Revised Statutes.--Section 5145 of the 
Revised Statutes of the United States (12 U.S.C. 71) is amended--
            (1) by striking ``for one year'' and inserting ``for a 
        period of not more than 3 years''; and
            (2) by adding at the end the following: ``In accordance 
        with regulations issued by the Comptroller of the Currency, a 
        national bank may adopt bylaws that provide for staggering the 
        terms of its directors.''.
    (b) Amendment to the Banking Act of 1933.--Section 31 of the 
Banking Act of 1933 (12 U.S.C. 71a) is amended in the first sentence, 
by inserting before the period ``, except that the Comptroller of the 
Currency may, by regulation or order, exempt a national bank from the 
25-member limit established by this section''.

SEC. 1206. AMENDMENT TO NATIONAL BANK CONSOLIDATION AND MERGER ACT.

    The National Bank Consolidation and Merger Act (12 U.S.C. 215 et 
seq.) is amended by inserting after section 5, as added by this title, 
the following new section:

``SEC. 6. MERGERS AND CONSOLIDATIONS WITH SUBSIDIARIES AND NONBANK 
              AFFILIATES.

    ``(a) In General.--Upon the approval of the Comptroller, a national 
bank may merge with 1 or more of its nonbank subsidiaries or 
affiliates.
    ``(b) Scope.--Nothing in this section shall be construed--
            ``(1) to affect the applicability of section 18(c) of the 
        Federal Deposit Insurance Act; or
            ``(2) to grant a national bank any power or authority that 
        is not permissible for a national bank under other applicable 
        provisions of law.
    ``(c) Regulations.--The Comptroller shall promulgate regulations to 
implement this section.''.

SEC. 1207. LOANS ON OR PURCHASES BY INSTITUTIONS OF THEIR OWN STOCK; 
              AFFILIATIONS.

    (a) Amendment to the Revised Statutes.--Section 5201 of the Revised 
Statutes of the United States (12 U.S.C. 83) is amended to read as 
follows:

``SEC. 5201. LOANS BY BANK ON ITS OWN STOCK.

    ``(a) General Prohibition.--No national bank shall make any loan or 
discount on the security of the shares of its own capital stock.
    ``(b) Exclusion.--For purposes of this section, a national bank 
shall not be deemed to be making a loan or discount on the security of 
the shares of its own capital stock if it acquires the stock to prevent 
loss upon a debt previously contracted for in good faith.''.
    (b) Amendments to the Federal Deposit Insurance Act.--Section 18 of 
the Federal Deposit Insurance Act (12 U.S.C. 1828) is amended--
            (1) by redesignating subsection (t), as added by section 
        730 of the Gramm-Leach-Bliley Act (Public Law 106-102; 113 
        Stat. 1476), as subsection (u); and
            (2) by adding at the end the following new subsection:
    ``(v) Loans by Insured Institutions on Their Own Stock.--
            ``(1) General prohibition.--No insured depository 
        institution may make any loan or discount on the security of 
        the shares of its own capital stock.
            ``(2) Exclusion.--For purposes of this subsection, an 
        insured depository institution shall not be deemed to be making 
        a loan or discount on the security of the shares of its own 
        capital stock if it acquires the stock to prevent loss upon a 
        debt previously contracted for in good faith.''.

SEC. 1208. PURCHASED MORTGAGE SERVICING RIGHTS.

    Section 475 of the Federal Deposit Insurance Corporation 
Improvement Act of 1991 (12 U.S.C. 1828 note) is amended--
            (1) in subsection (a)(1), by inserting ``(or such other 
        percentage exceeding 90 percent but not exceeding 100 percent, 
        as may be determined under subsection (b))'' after ``90 
        percent'';
            (2) by redesignating subsections (b) and (c) as subsections 
        (c) and (d), respectively, and by inserting after subsection 
        (a) the following new subsection:
    ``(b) Authority To Determine Percentage by Which To Discount Value 
of Servicing Rights.--The appropriate Federal banking agencies may 
allow readily marketable purchased mortgage servicing rights to be 
valued at more than 90 percent of their fair market value but at not 
more than 100 percent of such value, if such agencies jointly make a 
finding that such valuation would not have an adverse effect on the 
deposit insurance funds or the safety and soundness of insured 
depository institutions.''; and
            (3) in subsection (c), by striking ``and'' and inserting 
        ``, `deposit insurance fund', and''.

          Subtitle B--Streamlining Activities of Institutions

SEC. 1211. CALL REPORT SIMPLIFICATION.

    (a) Modernization of Call Report Filing and Disclosure System.--In 
order to reduce the administrative requirements pertaining to bank 
reports of condition, savings association financial reports, and bank 
holding company consolidated and parent-only financial statements, and 
to improve the timeliness of such reports and statements, the Federal 
banking agencies shall--
            (1) work jointly to develop a system under which--
                    (A) insured depository institutions and their 
                affiliates may file such reports and statements 
                electronically; and
                    (B) the Federal banking agencies may make such 
                reports and statements available to the public 
                electronically; and
            (2) not later than 1 year after the date of enactment of 
        this Act, report to the Congress and make recommendations for 
        legislation that would enhance efficiency for filers and users 
        of such reports and statements.
    (b) Uniform Reports and Simplification of Instructions.--The 
Federal banking agencies shall, consistent with the principles of 
safety and soundness, work jointly--
            (1) to adopt a single form for the filing of core 
        information required to be submitted under Federal law to all 
        such agencies in the reports and statements referred to in 
        subsection (a); and
            (2) to simplify instructions accompanying such reports and 
        statements and to provide an index to the instructions that is 
        adequate to meet the needs of both filers and users.
    (c) Review of Call Report Schedule.--Each Federal banking agency 
shall--
            (1) review the information required by schedules 
        supplementing the core information referred to in subsection 
        (b); and
            (2) eliminate requirements that are not warranted for 
        reasons of safety and soundness or other public purposes.
    (d) Definition.--In this section, the term ``Federal banking 
agency'' has the same meaning as in section 3 of the Federal Deposit 
Insurance Act (12 U.S.C. 1813).

                Subtitle C--Streamlining Agency Actions

SEC. 1221. ELIMINATION OF DUPLICATIVE DISCLOSURE OF FAIR MARKET VALUE 
              OF ASSETS AND LIABILITIES.

    Section 37(a)(3) of the Federal Deposit Insurance Act (12 U.S.C. 
1831n(a)(3)) is amended by striking subparagraph (D).

SEC. 1222. PAYMENT OF INTEREST IN RECEIVERSHIPS WITH SURPLUS FUNDS.

    Section 11(d)(10) of the Federal Deposit Insurance Act (12 U.S.C. 
1821(d)(10)) is amended by adding at the end the following new 
subparagraph:
                    ``(C) Rulemaking authority of corporation.--The 
                Corporation may prescribe such rules, including 
                definitions of terms, as it deems appropriate to 
                establish a single uniform interest rate for or to make 
                payments of post insolvency interest to creditors 
                holding proven claims against the receivership estates 
                of insured Federal or State depository institutions 
                following satisfaction by the receiver of the principal 
                amount of all creditor claims.''.

SEC. 1223. REPEAL OF REPORTING REQUIREMENT ON DIFFERENCES IN ACCOUNTING 
              STANDARDS.

    Section 37(c) of the Federal Deposit Insurance Act (12 U.S.C. 
1831n(c)) is amended--
            (1) in paragraph (1), by striking ``Each'' and all that 
        follows through ``a report'' and inserting ``The Federal 
        banking agencies shall jointly submit an annual report''; and
            (2) by inserting ``any'' before ``such agency'' each place 
        that term appears.

SEC. 1224. EXTENSION OF TIME.

    Section 6(a)(1) of the Federal Home Loan Bank Act (12 U.S.C. 
1426(a)(1)) is amended by striking ``1 year'' and inserting ``18 
months''.

                   Subtitle D--Technical Corrections

SEC. 1231. TECHNICAL CORRECTION RELATING TO DEPOSIT INSURANCE FUNDS.

    (a) In General.--Section 2707 of the Deposit Insurance Funds Act of 
1996 (Public Law 104-208; 110 Stat. 3009-496) is amended--
            (1) by striking ``7(b)(2)(C)'' and inserting 
        ``7(b)(2)(E)''; and
            (2) by striking ``, as redesignated by section 2704(d)(6) 
        of this subtitle''.
    (b) Effective Date.--The amendments made by subsection (a) shall be 
deemed to have the same effective date as section 2707 of the Deposit 
Insurance Funds Act of 1996 (Public Law 104-208; 110 Stat. 3009-496).

SEC. 1232. RULES FOR CONTINUATION OF DEPOSIT INSURANCE FOR MEMBER BANKS 
              CONVERTING CHARTERS.

    Section 8(o) of the Federal Deposit Insurance Act (12 U.S.C. 
1818(o)) is amended in the second sentence, by striking ``subsection 
(d) of section 4'' and inserting ``subsection (c) or (d) of section 
4''.

SEC. 1233. AMENDMENTS TO THE REVISED STATUTES OF THE UNITED STATES.

    (a) Waiver of Citizenship Requirement for National Bank 
Directors.--Section 5146 of the Revised Statutes of the United States 
(12 U.S.C. 72) is amended in the first sentence, by inserting before 
the period ``, and waive the requirement of citizenship in the case of 
not more than a minority of the total number of directors''.
    (b) Technical Amendment to the Revised Statutes.--Section 329 of 
the Revised Statutes of the United States (12 U.S.C. 11) is amended by 
striking ``to be interested in any association issuing national 
currency under the laws of the United States'' and inserting ``to hold 
an interest in any national bank''.
    (c) Repeal of Unnecessary Capital and Surplus Requirement.--Section 
5138 of the Revised Statutes of the United States (12 U.S.C. 51) is 
hereby repealed.

SEC. 1234. CONFORMING CHANGE TO THE INTERNATIONAL BANKING ACT OF 1978.

    Section 4(b) of the International Banking Act of 1978 (12 U.S.C. 
3102(b)) is amended in the second sentence, by striking paragraph (1) 
and by redesignating paragraphs (2) through (4) as paragraphs (1) 
through (3), respectively.
                                 <all>