[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4144 Introduced in House (IH)]

112th CONGRESS
  2d Session
                                H. R. 4144

  To amend the State Small Business Credit Initiative Act of 2010 to 
   allow participating States to provide program funds to community 
    development housing organizations for development of affordable 
                                housing.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 6, 2012

   Mr. Baca introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To amend the State Small Business Credit Initiative Act of 2010 to 
   allow participating States to provide program funds to community 
    development housing organizations for development of affordable 
                                housing.

    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 ``Strengthening Economic Development 
Through Affordable Housing Act of 2012''.

SEC. 2. SUPPORT FOR AFFORDABLE HOUSING PROJECTS.

    Section 3003(c) of the State Small Business Credit Initiative Act 
of 2010 (12 U.S.C. 5702(c)) is amended--
            (1) in paragraph (3)--
                    (A) by redesignating subparagraphs (C) and (D) as 
                subparagraphs (D) and (E), respectively; and
                    (B) by inserting after subparagraph (B) the 
                following:
                    ``(C) to provide funds to community housing 
                development organizations to be used--
                            ``(i) to develop, acquire, construct, 
                        rehabilitate, maintain, operate, or manage 
                        housing projects that provide housing that is 
                        affordable for low- or moderate-income 
                        households, as determined by the Secretary, in 
                        consultation with the Secretary of Housing and 
                        Urban Development;
                            ``(ii) notwithstanding section 220 of the 
                        Cranston-Gonzalez National Affordable Housing 
                        Act (42 U.S.C. 12750) or any other provision of 
                        law, to cover any contribution required under 
                        such section or any matching amount, 
                        contribution amount, or non-Federal share 
                        required in connection with any other Federal 
                        grant or assistance program to provide housing 
                        that is affordable for low- or moderate-income 
                        households; or
                            ``(iii) for purchasing foreclosed 
                        properties and property being sold by a State 
                        or local government, but only for the use of 
                        such properties for the purposes specified in 
                        clause (i) of this subparagraph;''; and
            (2) in paragraph (6)--
                    (A) in subparagraph (A), by striking ``and'' at the 
                end;
                    (B) in subparagraph (B), by striking the period and 
                inserting ``; and''; and
                    (C) by adding at the end the following:
                    ``(C) the term `community housing development 
                organization' has the meaning given such term in 
                section 104 of the Cranston-Gonzalez National 
                Affordable Housing Act (42 U.S.C. 12704).''.
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