[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 639 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                 S. 639

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


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                   IN THE SENATE OF THE UNITED STATES

                             March 15, 2017

 Mr. Portman (for himself, Mr. Bennet, and Mrs. Capito) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To clarify that nonprofit organizations such as Habitat for Humanity 
    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.''.
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