[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4273 Introduced in House (IH)]







109th CONGRESS
  1st Session
                                H. R. 4273

 To make single family housing owned by the Department of Housing and 
Urban Development available for purchase by teachers and public safety 
                        officers at a discount.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            November 9, 2005

  Ms. Harris introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To make single family housing owned by the Department of Housing and 
Urban Development available for purchase by teachers and public safety 
                        officers at a discount.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Community Partners Next Door Act of 
2005''.

SEC. 2. COMMUNITY PARTNERS NEXT DOOR ACT.

    (a) Discount and Downpayment Assistance for Teachers and Public 
Safety Officers.--Section 204(h) of the National Housing Act (12 U.S.C. 
1710(h)) is amended--
            (1) by redesignating paragraphs (7) through (10) as 
        paragraphs (8) through (11), respectively; and
            (2) by inserting after paragraph (6) the following new 
        paragraph:
            ``(7) 50 percent discount for teachers and public safety 
        officers purchasing properties that are eligible assets.--
                    ``(A) Discount.--A property that is an eligible 
                asset and is sold, during fiscal years 2006 through 
                2010, to a teacher or public safety officer for use in 
                accordance with subparagraph (B) shall be sold at a 
                price that is equal to 50 percent of the appraised 
                value of the eligible property (as determined in 
                accordance with paragraph (6)(B)). In the case of a 
                property eligible for both a discount under this 
                paragraph and a discount under paragraph (6), the 
                discount under paragraph (6) shall not apply.
                    ``(B) Primary residence.--An eligible property sold 
                pursuant to a discount under this paragraph shall be 
                used, for not less than the 3-year period beginning 
                upon such sale, as the primary residence of a teacher 
                or public safety officer.
                    ``(C) Sale methods.--The Secretary may sell an 
                eligible property pursuant to a discount under this 
                paragraph--
                            ``(i) to a unit of general local government 
                        or nonprofit organization (pursuant to 
                        paragraph (4) or otherwise), for resale or 
                        transfer to a teacher or public safety officer; 
                        or
                            ``(ii) directly to a purchaser who is a 
                        teacher or public safety officer.
                    ``(D) Resale.--In the case of any purchase by a 
                unit of general local government or nonprofit 
                organization of an eligible property sold at a 
                discounted price under this paragraph, the sale 
                agreement under paragraph (8) shall--
                            ``(i) require the purchasing unit of 
                        general local government or nonprofit 
                        organization to provide the full benefit of the 
                        discount to the teacher or public safety 
                        officer obtaining the property; and
                            ``(ii) in the case of a purchase involving 
                        multiple eligible assets, any of which is such 
                        an eligible property, designate the specific 
                        eligible property or properties to be subject 
                        to the requirements of subparagraph (B).
                    ``(E) Mortgage downpayment assistance.--If a 
                teacher or public safety officer purchases an eligible 
                property pursuant to a discounted sale price under this 
                paragraph and finances such purchase through a mortgage 
                insured under this title, notwithstanding any provision 
                of section 203 the downpayment on such mortgage shall 
                be $100.
                    ``(F) Prevention of undue profit.--The Secretary 
                shall issue regulations to prevent undue profit from 
                the resale of eligible properties in violation of the 
                requirement under subparagraph (B).
                    ``(G) Definitions.--For the purposes of this 
                paragraph, the following definitions shall apply:
                            ``(i) The term `eligible property' means an 
                        eligible asset described in paragraph (2)(A) of 
                        this subsection.
                            ``(ii) The term `public safety officer' has 
                        the meaning given such term in section 1204 of 
                        the Omnibus Crime Control and Safe Streets Act 
                        of 1968 (42 U.S.C. 3796b).
                            ``(iii) The term `teacher' means an 
                        individual who is employed on a part- or full-
                        time basis as a teacher, teacher assistant, or 
                        administrator in a public or private school 
                        that provides elementary or secondary 
                        education, as determined under State law, 
                        except that elementary education shall include 
                        pre-Kindergarten education, and except that 
                        secondary education shall not include any 
                        education beyond grade 12.
                    ``(H) Program integrity.--Notwithstanding any other 
                provision of this paragraph, the Secretary may suspend 
                the applicability of this paragraph for such period as 
                the Secretary considers appropriate if the Secretary 
                determines such suspension is necessary because of 
                fraud or other issues regarding program integrity.''.
    (b) Conforming Amendments.--Section 204(h) of the National Housing 
Act (12 U.S.C. 1710(h)) is amended--
            (1) in paragraph (4)(B)(ii), by striking ``paragraph (7)'' 
        and inserting ``paragraph (8)'';
            (2) in paragraph (5)(B)(i), by striking ``paragraph (7)'' 
        and inserting ``paragraph (8)''; and
            (3) in paragraph (6)(A), by striking ``paragraph (8)'' and 
        inserting ``paragraph (9)''.
    (c) Regulations.--Not later than 60 days after the date of the 
enactment of this Act, the Secretary shall issue regulations to 
implement the amendments made by this section.
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