Short title

This Act may be cited as the

Housing Assistance Authorization Act of 2007

Limitation on use of authorized amounts

None of the amounts authorized by this Act may be used to lobby or retain a lobbyist for the purpose of influencing a Federal, State, or local governmental entity or officer.

Assistance to Housing Assistance Council

(a)

Use

The Secretary of Housing and Urban Development may provide financial assistance to the Housing Assistance Council for use by such Council to develop the ability and capacity of community-based housing development organizations to undertake community development and affordable housing projects and programs in rural areas. Assistance provided by the Secretary under this section may be used by the Housing Assistance Council for— (1)technical assistance, training, support, and advice to develop the business and administrative capabilities of rural community-based housing development organizations; (2)loans, grants, or other financial assistance to rural community-based housing development organizations to carry out community development and affordable housing activities for low- and moderate-income families; and (3)such other activities as may be determined by the Secretary and the Housing Assistance Council. (b)

Authorization of appropriations

There is authorized to be appropriated for financial assistance under this section for the Housing Assistance Council— (1)$5,000,000 for fiscal year 2008; and (2)$10,000,000 for each of fiscal years 2009 and 2010.

Assistance for Raza Development Fund

(a)

Use

The Secretary of Housing and Urban Development may make a grant to the Raza Development Fund for the purpose of providing technical and financial assistance to local non-profit organizations to undertake community development and affordable housing projects and programs serving low- and moderate-income households, particularly through organizations located in neighborhoods with substantial populations of income-disadvantaged households of Hispanic origin. Assistance provided by the Secretary under this section may be used by the Raza Development Fund to— (1)provide technical and financial assistance for site acquisition and development, construction financing, and short- and long-term financing for housing, community facilities, and economic development; (2)leverage capital from private entities, including private financial institutions, insurance companies, and private philanthropic organizations; (3)provide technical assistance, training, support, and advice to develop the management, financial, and administrative capabilities of housing development organizations serving low-income households, including Hispanic households; and (4)conduct such other activities as may be determined by the Secretary and the Raza Development Fund. (b)

Authorization of appropriations

There is authorized to be appropriated for grants under this section— (1)$5,000,000 for fiscal year 2008; and (2)$10,000,000 for each of fiscal years 2009 and 2010.

Assistance for the Housing Partnership Network

(a)

Use

The Secretary of Housing and Urban Development may make a grant to the Housing Partnership Network (hereafter referred to as the Network) for the purpose of creating, sustaining, and improving access to affordable housing and community facilities that benefit very low-, low- and moderate-income households and communities. Assistance provided by the Secretary under this section may be used by the Network to— (1)make investments, loans, and grants to its member nonprofits that demonstrate expertise in using such funds to leverage additional private capital to build, operate, finance, and sustain affordable housing and related community development facilities; (2)make investments in entities sponsored by the Network with the intent to leverage additional private capital for the purpose of furthering the production capacity, sustainability, or efficiency of its members; (3)pay for the necessary and reasonable expenses of the Network to administer and oversee such investments, including the cost of underwriting, managing the assets of the Network, and reporting to the Secretary and other capital providers, provided however, that such expenses do not exceed 6 percent of any amounts made available pursuant to subsection (b); and (4)conduct such other activities as may be determined by the Secretary and the Network. (b)

Authorization of appropriations

There is authorized to be appropriated for grants under this section— (1)$5,000,000 for fiscal year 2008; and (2)$10,000,000 for each of fiscal years 2009 and 2010.

Audits and reports

(a)

Audit

In any year in which an entity or organization described under either section 3, 4, or 5 receives funds under this Act, the Comptroller General of the United States shall— (1)audit the financial transactions and activities of such entity or organization only with respect to such funds so received; and (2)submit a report detailing such audit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives. (b)

GAO report

The Comptroller General of the United States shall conduct a study and submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representative on the use of any funds appropriated to an entity or organization described under either section 3, 4, or 5 over the past 10 years.

Persons not lawfully present in the United States

None of the funds made available under this Act may be used to provide direct housing assistance to any person not lawfully present in the United States.