[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2255 Introduced in House (IH)]

<DOC>






115th CONGRESS
  1st Session
                                H. R. 2255

  To clarify that nonprofit organizations may accept donated mortgage 
                  appraisals, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 28, 2017

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

_______________________________________________________________________

                                 A BILL


 
  To clarify that nonprofit organizations may accept donated mortgage 
                  appraisals, 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.

    This Act may be cited as the ``Housing Opportunities Made Easier 
Act'' or the ``HOME Act''.

SEC. 2. EXEMPTION FROM TRUTH IN LENDING ACT.

    Section 129E(i) of the Truth in Lending Act (15 U.S.C. 1639e(i)) is 
amended by adding at the end the following:
            ``(4) Rule of construction related to appraisal 
        donations.--For purposes of paragraph (1), if a fee appraiser 
        voluntarily donates appraisal services to an organization 
        described in section 170(c)(2) of the Internal Revenue Code of 
        1986, such voluntary donation shall be deemed customary and 
        reasonable.''.
                                 <all>