102 S3644 IS: HOME Investment Partnerships Reauthorization and Improvement Act of 2024 U.S. Senate 2024-01-23 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
II118th CONGRESS2d SessionS. 3644IN THE SENATE OF THE UNITED STATESJanuary 23, 2024Ms. Cortez Masto (for herself, Ms. Smith, Mr. Fetterman, and Ms. Rosen) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo reauthorize the HOME Investment Partnerships Program, and for other purposes.
1.
Short title; table of contents
(a)
Short title
This Act may be cited as the HOME Investment Partnerships Reauthorization and Improvement Act of 2024.(b)
Table of contents
The table of contents for this Act is as follows:Sec. 1. Short title; table of contents.TITLE I—Reauthorization of and reforms to Home Investment Partnerships ProgramSec. 101. Reauthorization of Program.Sec. 102. Increase in Program administration resources.Sec. 103. Modifications of participating jurisdiction qualification threshold and process for reallocations.Sec. 104. Modification of jurisdictions eligible for reallocations.TITLE II—Reforms relating to Home Investment Partnerships Program administration and rulesSec. 201. Amendments to qualification as affordable housing.Sec. 202. Elimination of commitment deadline.Sec. 203. Reform of homeownership resale restrictions.Sec. 204. Home property inspections.Sec. 205. Revisions to strengthen enforcement and penalties for noncompliance.Sec. 206. Tenant and participant protections for small-scale affordable housing.Sec. 207. Establishment of home loan guarantee program.TITLE III—Reforms relating to community housing development organization and nonprofit participationSec. 301. Modification of rules related to community housing development organizations.TITLE IV—Technical correctionsSec. 401. Technical corrections.
<enum>I</enum><header>Reauthorization of and reforms to Home Investment Partnerships Program</header><section id="ida36a85a0fa0c4c93ae95f9392d429b0c"><enum>101.</enum><header>Reauthorization of Program</header><text display-inline="no-display-inline">Section 205 of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12724">42 U.S.C. 12724</external-xref>) is amended to read as follows:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id0a1cb661581845f59de76a96ffc325b8"><section id="id6eed9bdd5d394258b51273bdb7bf9446"><enum>205.</enum><header>Authorization of appropriations</header><text display-inline="no-display-inline">There are authorized to be appropriated to carry out this title—</text><paragraph id="id6b35a690544c4b6da4298c659f2e371b"><enum>(1)</enum><text>$5,000,000,000 for fiscal year 2024;</text></paragraph><paragraph id="id16e8f1ce04174091a0c191d81437a464"><enum>(2)</enum><text>$5,250,000,000 for fiscal year 2025;</text></paragraph><paragraph id="idd6d24f92dc5f412aa6a5b8996a6bca7b"><enum>(3)</enum><text>$5,512,500,000 for fiscal year 2026;</text></paragraph><paragraph id="id6da85731146a4a819185b44d88a791da"><enum>(4)</enum><text>$5,788,125,000 for fiscal year 2027; and</text></paragraph><paragraph id="id6b80e86bb83944ce9e8ef52e2d0df19f"><enum>(5)</enum><text>$6,077,531,250 for fiscal year 2028.</text></paragraph></section><after-quoted-block>.</after-quoted-block></quoted-block></section><section id="idb95d314dc23b4ee5a1cca83afc48e7d9"><enum>102.</enum><header>Increase in Program administration resources</header><text display-inline="no-display-inline">Subtitle A of title II of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12741">42 U.S.C. 12741 et seq.</external-xref>) is amended—</text><paragraph id="id66c46249e75b4f7eb8e1a4fff0fdad6c"><enum>(1)</enum><text>in section 212(c) (<external-xref legal-doc="usc" parsable-cite="usc/42/12742">42 U.S.C. 12742(c)</external-xref>), by striking <quote>10 percent</quote> and inserting <quote>15 percent</quote>; and</text></paragraph><paragraph id="ideec81318923740f5bc297470b5c62d94"><enum>(2)</enum><text>in section 220(b) (<external-xref legal-doc="usc" parsable-cite="usc/42/12750">42 U.S.C. 12750(b)</external-xref>)—</text><subparagraph id="id7FEA66A0E8024DED9AD46F3EE69B6845"><enum>(A)</enum><text>by striking <quote><header-in-text level="subsection" style="OLC">Recognition.—</header-in-text></quote> and all that follows through <quote>A contribution</quote> and inserting the following: <quote><header-in-text level="subsection" style="OLC">Recognition.—</header-in-text>A contribution</quote>; and</text></subparagraph><subparagraph commented="no" id="id69FC0302E92F428F9554C0C6046F644F"><enum>(B)</enum><text>by striking paragraph (2).</text></subparagraph></paragraph></section><section id="id5214c58d9bf843e6a2e9f58546cf4185"><enum>103.</enum><header>Modifications of participating jurisdiction qualification threshold and process for reallocations</header><text display-inline="no-display-inline">Section 216 of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12746">42 U.S.C. 12746</external-xref>) is amended—</text><paragraph id="ide41f8ab415a0452e92840d035b1f2c6e"><enum>(1)</enum><text>in paragraph (3)(A)—</text><subparagraph id="id24274ccc6ce54524831c654c0702d3f5"><enum>(A)</enum><text>by striking <quote>(A) Except as provided in paragraph (10), a jurisdiction</quote> and inserting the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id020c304e75d3422dab088b4cb26afcb3"><subparagraph id="idd3c2d7ecb3fb46cca97d25a03a8b7cfc"><enum>(A)</enum><header>Eligibility threshold</header><clause id="id64eb31857ec34ba1b0be793943986d6a"><enum>(i)</enum><header>In general</header><text>Except as provided in subparagraph (B), a jurisdiction</text></clause></subparagraph><after-quoted-block>; and</after-quoted-block></quoted-block></subparagraph><subparagraph id="id9375b53d2d444d62b7373178dbeda8ed"><enum>(B)</enum><text>by striking <quote>or if the Secretary finds that</quote> and all that follows through the end of clause (ii) and inserting the following: “subject to clause (ii).</text><quoted-block style="OLC" display-inline="no-display-inline" id="id7b0f1ab3efb94c908fe00439ed812a88"><clause id="id898b22620d794dfc958548ee7190cc08"><enum>(ii)</enum><header>Inflation adjustment to eligibility threshold</header><text>For each fiscal year after fiscal year 2024, the Secretary shall adjust the threshold amount in clause (i) for inflation.</text></clause><after-quoted-block>; </after-quoted-block></quoted-block></subparagraph></paragraph><paragraph id="idbc19579eab7c4212b1c13fdfdcb20a83"><enum>(2)</enum><text>in paragraph (6)—</text><subparagraph id="idc5488c6c338c4e0797ff45b31b3aebb2"><enum>(A)</enum><text>in the matter preceding subparagraph (A), by inserting <quote>this title, including the requirements in</quote> after <quote>the requirements of</quote>; and</text></subparagraph><subparagraph id="idee7d355106eb4943b197528b4dba87c4" commented="no"><enum>(B)</enum><text>by striking <quote>meet the requirements</quote> each place that term appears and inserting <quote>meet or comply with the requirements</quote>; and</text></subparagraph></paragraph><paragraph id="id362705d051df4fd4b6af29499165dd27"><enum>(3)</enum><text>by striking paragraph (10).</text></paragraph></section><section id="id2147c977395a44b09fb1c3eaaa02ecc6"><enum>104.</enum><header>Modification of jurisdictions eligible for reallocations</header><text display-inline="no-display-inline">Section 217(d) of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12747">42 U.S.C. 12747(d)</external-xref>) is amended—</text><paragraph id="idc13b5d0777d546f2b3ab5907ae34a498"><enum>(1)</enum><text>in paragraph (1), by striking the second sentence and inserting the following: <quote>Subject to paragraph (3)(A), jurisdictions eligible for such reallocations shall include participating jurisdictions and jurisdictions meeting the requirements of this title, including the requirements in paragraphs (3), (4), and (5) of section 216.</quote>; and</text></paragraph><paragraph id="id50a20fc4248244798ec4e7083b55035e"><enum>(2)</enum><text>in paragraph (3), by striking <quote><header-in-text style="OLC" level="paragraph">Limitation</header-in-text>.—Unless otherwise specified</quote> and inserting the following:</text><quoted-block style="OLC" display-inline="yes-display-inline" id="id057D0E2EC77D47AD8DDC64887360318F"><text><header-in-text style="OLC" level="paragraph">Limitations</header-in-text>.—</text><subparagraph commented="no" display-inline="no-display-inline" id="id8e1029f4c69143f8be6885f543ebce83"><enum>(A)</enum><header>Removal of participating jurisdictions from reallocation</header><text>The Secretary may remove a participating jurisdiction that fails to meet or comply with the requirements of this title from participation in reallocations of funds made available under this title.</text></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id5575fa09d8ba4647beacd44ba16713a7"><enum>(B)</enum><header>Reallocation to same type of entity</header><text display-inline="yes-display-inline">Unless otherwise specified</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></section><enum>II</enum><header>Reforms relating to Home Investment Partnerships Program administration and rules</header><section id="id54ce0bfeafce4f6e86e993f6713a37d4"><enum>201.</enum><header>Amendments to qualification as affordable housing</header><text display-inline="no-display-inline">Section 215 of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12745">42 U.S.C. 12745</external-xref>) is amended—</text><paragraph id="id399e3f5a71bc4177a803ea7c3fbc1627"><enum>(1)</enum><text>in subsection (a)—</text><subparagraph id="id01817ef3482743c4913398a1764baa79"><enum>(A)</enum><text>in paragraph (1)(E), by striking all that follows <quote>purposes of this Act,</quote> and inserting the following: “except—</text><quoted-block style="OLC" display-inline="no-display-inline" id="id83d2adf19a394be88e19bb51b5ab51c3"><clause id="id0f68e80963984db3a78bef62c3b39893"><enum>(i)</enum><text>upon a foreclosure by a lender (or upon other transfer in lieu of foreclosure) if such action—</text><subclause id="id06E558994BAE4F3D884783BB0E645DC6"><enum>(I)</enum><text>recognizes any contractual or legal rights of public agencies, nonprofit sponsors, or others to take actions that would avoid termination of low-income affordability in the case of foreclosure or transfer in lieu of foreclosure; and</text></subclause><subclause id="id67335FA9365245EBB521F1ED0DC95E02"><enum>(II)</enum><text>is not for the purpose of avoiding low-income affordability restrictions, as determined by the Secretary; or</text></subclause></clause><clause id="id71425C480AF04B839601CBFA53DDFC40"><enum>(ii)</enum><text>where existing affordable housing is no longer financially viable due to unforeseen acts or occurrences beyond the reasonable contemplation or control of the participating jurisdiction or owner that significantly impact the financial or physical condition of the housing, as determined by the Secretary; and</text></clause><after-quoted-block>; and</after-quoted-block></quoted-block></subparagraph><subparagraph id="id837c931333a74b908cedb07de31e4c5a"><enum>(B)</enum><text>by adding at the end the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="idb8566fbfa40d488099fcdb01dedd0444"><paragraph id="id1f58e20faf6e4bb2a1e6ef97a51c736d"><enum>(7)</enum><header>Small-scale housing</header><subparagraph id="idF7D47A58108C4AD592460397812F106B"><enum>(A)</enum><header>Definition</header><text>In this paragraph, the term <term>small-scale housing</term> means housing with not more than 4 rental units. </text></subparagraph><subparagraph id="id5f5f0a24447c4d7c91b4cb43adada55d"><enum>(B)</enum><header>Alternative requirements</header><text>Small-scale housing shall qualify as affordable housing under this title if—</text><clause id="id179c4322187e4b2592b8cbf61ec84792"><enum>(i)</enum><text>the housing bears rents that comply with paragraph (1)(A);</text></clause><clause id="idde0ee39197714a4dbed67d6c099b3be1"><enum>(ii)</enum><text>each unit is occupied by a household that qualifies as a low-income family;</text></clause><clause id="id7fdb96ca6af34fde9fc5f14567cd5e06"><enum>(iii)</enum><text>the housing is not refused for leasing to a holder of a voucher under section 8 of the United States Housing Act of 1937 (<external-xref legal-doc="usc" parsable-cite="usc/42/1437f">42 U.S.C. 1437f</external-xref>) because of the status of the prospective tenant as a holder of such voucher;</text></clause><clause id="idef636ee9f5c143de84d412fbfbeb7db0"><enum>(iv)</enum><text>the housing meets the requirements under paragraph (1)(E); and</text></clause><clause id="ida32ece8f5c474ead8cc7c42b701bcfcd"><enum>(v)</enum><text>the participating jurisdiction monitors ongoing compliance of the housing with requirements of this title in a manner consistent with the purposes of section 226(b), as determined by the Secretary.</text></clause></subparagraph></paragraph><after-quoted-block>; and</after-quoted-block></quoted-block></subparagraph></paragraph><paragraph id="id2dd67d9e962a42529a8fea8ced1b85d5"><enum>(2)</enum><text>in subsection (b)(1), by striking <quote>95 percent</quote> and inserting <quote>110 percent or a percentage established by the Secretary through notice, whichever is greater,</quote>.</text></paragraph></section><section id="id113b661d6edf4c3b92d7a936d65bc767"><enum>202.</enum><header>Elimination of commitment deadline</header><subsection id="id4a9fe90272bb4513bbbe142d7374646d"><enum>(a)</enum><header>In general</header><text>Section 218 of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12748">42 U.S.C. 12748</external-xref>) is amended—</text><paragraph id="id29b874d42aaa418b830ed4276afd8eeb"><enum>(1)</enum><text>by striking subsection (g); and</text></paragraph><paragraph id="id1d5803fdbd1142ff98f7e65bcbbaf5af"><enum>(2)</enum><text>by redesignating subsection (h) as subsection (g).</text></paragraph></subsection><subsection id="idb52cb5eaf4af481b86aa6cd4f6a0362a"><enum>(b)</enum><header>Conforming amendment</header><text>Section 218(c) of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12748">42 U.S.C. 12748(c)</external-xref>) is amended—</text><paragraph id="id4a4f9e943bb84b3b8ef10c09e95dcde6"><enum>(1)</enum><text>in paragraph (1), by adding <quote>and</quote> at the end;</text></paragraph><paragraph id="id42872aab7c05495badc72b8dc0ca9048"><enum>(2)</enum><text>by striking paragraph (2);</text></paragraph><paragraph id="id00cbc11105f34a57afa57ea9a786c644"><enum>(3)</enum><text>by redesignating paragraph (3) as paragraph (2); and</text></paragraph><paragraph id="ida14a21d6852f405bbd064456878f189c"><enum>(4)</enum><text>in paragraph (2), as so redesignated, by striking <quote>section 224</quote> and inserting <quote>section 223</quote>.</text></paragraph></subsection></section><section id="id439b42414705478582ea35ff14a72659"><enum>203.</enum><header>Reform of homeownership resale restrictions</header><text display-inline="no-display-inline">Section 215 of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12745">42 U.S.C. 12745</external-xref>), as amended by section 201, is amended—</text><paragraph id="id7464d69091ab42af88a1aace3f81e519"><enum>(1)</enum><text>in subsection (b)—</text><subparagraph id="id48A586B7C7C04DE78A016AE192F42307"><enum>(A)</enum><text>in paragraph (2), by redesignating subparagraphs (A), (B), and (C) as clauses (i), (ii), and (iii), respectively, and adjusting the margins accordingly;</text></subparagraph><subparagraph id="id584D4FF98E3B4A7B9DA7C3038577C2DF"><enum>(B)</enum><text>by striking paragraph (3);</text></subparagraph><subparagraph id="idB6C140F7DF7A40519E20518CAAA8B459"><enum>(C)</enum><text>by redesignating paragraphs (1), (2), and (4) as subparagraphs (A), (B), and (D), respectively, and adjusting the margins accordingly;</text></subparagraph><subparagraph id="id5B5B7A2C4BA4474ABE6BAA7A001715C3"><enum>(D)</enum><text>by inserting after subparagraph (B), as so redesignated, the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id01ed0727037f47aea74988493dd10059"><subparagraph id="id729C6027E038494EB8632D232233B575"><enum>(C)</enum><text>is subject to restrictions that are established by the participating jurisdiction and determined by the Secretary to be appropriate, including with respect to the affordability period, to—</text><clause commented="no" display-inline="no-display-inline" id="id5ccac7adbef34c93a2275c77d65cc97f"><enum>(i)</enum><text display-inline="yes-display-inline">require that any subsequent purchase of the property be—</text><subclause id="id090f262cf503499cb8aa02d16094bcd8"><enum>(I)</enum><text>only by a person who meets the qualifications specified under subparagraph (B); and</text></subclause><subclause id="idb2943a89c8a442d5a5627fbcad5eb879"><enum>(II)</enum><text>at a price that is determined by a formula or method established by the participating jurisdiction that provides the owner with a reasonable return on investment, which may include a percentage of the cost of any improvements; or</text></subclause></clause><clause commented="no" display-inline="no-display-inline" id="idf72d1055b3af426190633fc9395a6074"><enum>(ii)</enum><text display-inline="yes-display-inline">in the case of resale, recapture the investment provided under this title in order to assist other persons in accordance with the requirements of this title, except where there are no net proceeds or where the net proceeds are insufficient to repay the full amount of the assistance; and</text></clause></subparagraph><after-quoted-block>;</after-quoted-block></quoted-block></subparagraph><subparagraph id="id9180EC89C6A7405E8C156E188BF9DA0F"><enum>(E)</enum><text>by striking <quote>Housing that is for homeownership</quote> and inserting the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id98AB4BD789F24581B36B2141F1604E4A"><paragraph id="id593CED2948684E909415D412BB33C248"><enum>(1)</enum><header>Qualification</header><text>Housing that is for homeownership</text></paragraph><after-quoted-block>; and</after-quoted-block></quoted-block></subparagraph><subparagraph id="idcf5bc0564b8a4140934bbea550732535"><enum>(F)</enum><text>by adding at the end the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id6fc26d4203c7407e85557d30a9cbf43a"><paragraph id="idda6f0aee4834427ca68f0c10d7679a46"><enum>(2)</enum><header>Purchase by community land trust</header><text>Notwithstanding subparagraph (C)(i) of paragraph (1) and under terms determined by the Secretary, a participating jurisdiction may permit a community land trust to purchase housing that meets the criteria under that paragraph—</text><subparagraph id="idcd53523b5d9147bda3d390a0a37707b2"><enum>(A)</enum><text>in accordance with the terms of the preemptive purchase option, lease, covenant, or other legal instrument of the community land trust when the terms and rights in the preemptive purchase option, lease, covenant, or legal instrument are and remain subject to the requirements of this title;</text></subparagraph><subparagraph id="id35b7230ef40c49b9ac2e0ac9e2fae0c1"><enum>(B)</enum><text>when the purchase is for—</text><clause commented="no" display-inline="no-display-inline" id="id7f1c5548708d48edabb7b69f209b5654"><enum>(i)</enum><text display-inline="yes-display-inline">the purpose of—</text><subclause commented="no" display-inline="no-display-inline" id="idc24e6b7a18154b6dac3d6b7696fd71aa"><enum>(I)</enum><text display-inline="yes-display-inline">entering into the chain of title;</text></subclause><subclause commented="no" display-inline="no-display-inline" id="idf940d603b3004845af9ca8befa2f9984"><enum>(II)</enum><text display-inline="yes-display-inline">enabling qualified homebuyers on a waitlist to purchase;</text></subclause><subclause commented="no" display-inline="no-display-inline" id="id3065d03bf7f14f0b9fa3367144c95598"><enum>(III)</enum><text display-inline="yes-display-inline">performing necessary rehabilitation, repairs, or improvements; or</text></subclause><subclause commented="no" display-inline="no-display-inline" id="idd658929153234dd38248cda507395b41"><enum>(IV)</enum><text display-inline="yes-display-inline">adding a subsidy; or</text></subclause></clause><clause commented="no" display-inline="no-display-inline" id="id75e246a4117c40b5a645b263941e9a08"><enum>(ii)</enum><text display-inline="yes-display-inline">another purpose determined appropriate by the Secretary; and</text></clause></subparagraph><subparagraph id="idc61868f85c2c4f63b5ba66b3c871486e"><enum>(C)</enum><text>if, within a reasonable period of time after the applicable purpose under subparagraph (B) of this paragraph is fulfilled, as determined by the Secretary, the housing is then sold to a person who meets the qualifications specified under paragraph (1)(B).</text></subparagraph></paragraph><paragraph id="id781456d800744c5cbe007da8c58cef97"><enum>(3)</enum><header>Suspension or waiver of requirements for military members</header><text>A participating jurisdiction, in accordance with terms established by the Secretary, may suspend or waive a requirement under paragraph (1)(B) with respect to housing if the owner of the housing—</text><subparagraph id="id0935d46b8e4b45c09d639455cc8ceb40"><enum>(A)</enum><text>is a member of a regular component of the armed forces or a member of the National Guard on full-time National Guard duty, active Guard and Reserve duty, or inactive-duty training (as those terms are defined in section 101(d) of title 10, United States Code); and</text></subparagraph><subparagraph id="id489ee9f4848e472796aa9b71243745b6"><enum>(B)</enum><text>has received—</text><clause commented="no" display-inline="no-display-inline" id="id5895efb9f58647b8ade8a3d6e86bfdc5"><enum>(i)</enum><text display-inline="yes-display-inline">temporary duty orders to deploy with a military unit or military orders to deploy as an individual acting in support of a military operation, to a location that is not within a reasonable distance from the housing, as determined by the Secretary, for a period of not less than 90 days; or</text></clause><clause commented="no" display-inline="no-display-inline" id="id9dcce2a42d0a4bb099844293eec84816"><enum>(ii)</enum><text>orders for a permanent change of station.</text></clause></subparagraph></paragraph><paragraph id="id0ffcfea251d3437eb2f69c6ca0b4ba1b"><enum>(4)</enum><header>Suspension or waiver of requirements for heir or beneficiary of deceased owner</header><text>Notwithstanding subparagraph (C) of paragraph (1), housing that meets the criteria under that paragraph prior to the death of an owner may continue to qualify as affordable housing if—</text><subparagraph id="id6c5da5b662c345518f73e7ab65961cca"><enum>(A)</enum><text>the housing is the principal residence of an heir or beneficiary of the deceased owner, as defined by the Secretary; and</text></subparagraph><subparagraph id="id74a76ab5820e4bd7a57ec526c635eba7"><enum>(B)</enum><text>the heir or beneficiary, in accordance with terms established by the Secretary, assumes the duties and obligations of the deceased owner with respect to funds provided under this title.</text></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></subparagraph></paragraph></section><section id="id75085b54381f451fbae09f3713b33005"><enum>204.</enum><header>Home property inspections</header><text display-inline="no-display-inline">Section 226(b) of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12756">42 U.S.C. 12756(b)</external-xref>) is amended—</text><paragraph id="id2e722f2b07534ee9bcc0c144876d55d0"><enum>(1)</enum><text>by striking <quote>Each participating jurisdiction</quote> and inserting the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id8d11064779744731a2b14f300f0691bf"><paragraph id="id687e01aef3654d87bc201b1c19fb59e6"><enum>(1)</enum><header>In general</header><text>Each participating jurisdiction</text></paragraph><after-quoted-block>; and</after-quoted-block></quoted-block></paragraph><paragraph id="id1c0f42963b6e4724abc7123f67bf74ba"><enum>(2)</enum><text>by striking <quote>Such review shall include</quote> and all that follows and inserting the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="idc7a9a15216334cf09aff3a7dd945c756"><paragraph id="id7e155852ed2e496d897df2dcabed8f2d"><enum>(2)</enum><header>On-site inspections</header><subparagraph id="id89873dc6abd340f7b10f34c30a96631c"><enum>(A)</enum><header>Inspections by units of general local government</header><text>A review conducted under paragraph (1) by a participating jurisdiction that is a unit of general local government shall include an on-site inspection to determine compliance with housing codes and other applicable regulations.</text></subparagraph><subparagraph id="id0bf67643c7e64a19954c5c5b4403055f"><enum>(B)</enum><header>Inspections by States</header><text>A review conducted under paragraph (1) by a participating jurisdiction that is a State shall include an on-site inspection to determine compliance with a national standard as determined by the Secretary.</text></subparagraph></paragraph><paragraph id="id6f49ad8514564c3ba86bc47a5a90eade"><enum>(3)</enum><header>Inclusion in performance report and publication</header><text>A participating jurisdiction shall include in the performance report of the participating jurisdiction submitted to the Secretary under section 108(a), and make available to the public, the results of each review conducted under paragraph (1).</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></section><section id="id74d7c90f26384fed91e7090aedf66d31"><enum>205.</enum><header>Revisions to strengthen enforcement and penalties for noncompliance</header><text display-inline="no-display-inline">Section 223 of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12753">42 U.S.C. 12753</external-xref>) is amended—</text><paragraph id="ide9837b99fed74e28b72e71437d90bfab"><enum>(1)</enum><text>in the heading, by striking <quote><header-in-text level="section" style="OLC">PENALTIES FOR MISUSE OF FUNDS</header-in-text></quote> and inserting <quote><header-in-text level="section" style="OLC">PROGRAM ENFORCEMENT AND PENALTIES FOR NONCOMPLIANCE</header-in-text></quote>; </text></paragraph><paragraph id="id5112b04f73f94d9a8c5f980f8e30c924"><enum>(2)</enum><text>in the matter preceding paragraph (1), by inserting after <quote>any provision of this subtitle</quote> the following: <quote>, including any provision applicable throughout the period required by section 215(a)(1)(E) and applicable regulations,</quote>;</text></paragraph><paragraph id="ide17531918ebe4360b6b96c9a94b48b1e" commented="no"><enum>(3)</enum><text>in paragraph (2), by striking <quote>or</quote> at the end;</text></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id49b939d74e334af6a4c519b9f8375d9f"><enum>(4)</enum><text>in paragraph (3), by striking the period at the end and inserting <quote>; or</quote>; and</text></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id6a48b72586274e10b70ff1ce81cd2aba"><enum>(5)</enum><text>by adding at the end the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id53629A226D9848AA9A3C4889209ADCBE"><paragraph commented="no" display-inline="no-display-inline" id="idb478f0c31d14405384caa3402e6da783"><enum>(4)</enum><text display-inline="yes-display-inline">reduce payments to the participating jurisdiction under this subtitle by an amount equal to the amount of such payments which were not expended in accordance with this title.</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></section><section id="id90ae48adbcbb4a8aa86a3b39cdd4e280"><enum>206.</enum><header>Tenant and participant protections for small-scale affordable housing</header><text display-inline="no-display-inline">Section 225 of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12755">42 U.S.C. 12755</external-xref>) is amended by adding at the end the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id030981309C414D4386D2001831C053F7"><subsection id="iddef10e879b694da4ab811050e7096546"><enum>(e)</enum><header>Tenant selection for small-Scale housing</header><text>Paragraphs (2) through (4) of subsection (d) shall not apply to the owner of small-scale housing (as defined in section 215(a)).</text></subsection><after-quoted-block>.</after-quoted-block></quoted-block></section><section id="idc5327861d87c46dd914ea9d7848a03d9"><enum>207.</enum><header>Establishment of home loan guarantee program</header><text display-inline="no-display-inline">Subtitle A of title II of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12741">42 U.S.C. 12741 et seq.</external-xref>) is amended by adding at the end the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id02C0744AF7B64FC8A34409F4D2078824"><section id="id60a0f76f47f5401280108485244bdfcf"><enum>227.</enum><header>Guarantee and commitment to guarantee loans for acquisition of property</header><subsection id="ida9d09067fc1c479ca8357e9536f6ff6b"><enum>(a)</enum><header>Authority</header><paragraph id="id0D3B95585C2249C7A0832540FBC092D4"><enum>(1)</enum><header>In general</header><text>The Secretary may, under such terms and conditions as the Secretary may prescribe, guarantee and make commitments to guarantee, only to such extent or in such amounts as provided in appropriation Acts, the notes or obligations issued by participating jurisdictions for the purposes of financing the development or preservation of affordable rental and homeownership housing through the acquisition, new construction, reconstruction, or moderate or substantial rehabilitation of affordable housing.</text></paragraph><paragraph id="idAADCCBDEAC9B4E7F9F4BE1DC625B6E1E"><enum>(2)</enum><header>Eligible expenses</header><text>When in support of the activities described in paragraph (1), the expenses for which the Secretary may guarantee and make commitments to guarantee notes or obligations under that paragraph include real property acquisition, site improvement, conversion, demolition, and other expenses, including financing costs and relocation expenses of any displaced person, family, or business.</text></paragraph></subsection><subsection id="id5391384fc4c24233ad8b32cd92a43b2c"><enum>(b)</enum><header>Limitations and requirements</header><paragraph id="id3dbf7a8223bd4aba98c8e63495fdbdb0"><enum>(1)</enum><header>Eligibility</header><text>A guarantee under this section may be used to assist a participating jurisdiction in obtaining financing only if the participating jurisdiction—</text><subparagraph id="id1b712fabdd214089820e06f714590b42"><enum>(A)</enum><text>has made efforts to obtain such financing without the use of the guarantee, as determined by the Secretary; and</text></subparagraph><subparagraph id="id4cec066eaa2c4f96b21f22745dab903b"><enum>(B)</enum><text>cannot complete such financing consistent with the timely execution of the project plans without the guarantee, as determined by the Secretary.</text></subparagraph></paragraph><paragraph id="id3c16d2b9bf9348769986cf1c965a261b"><enum>(2)</enum><header>Form, denominations, maturities, and conditions</header><text>Notes or other obligations guaranteed under this section shall be in such form and denominations, have such maturities, and be subject to such conditions as may be prescribed by regulations issued by the Secretary.</text></paragraph><paragraph id="id105fe56585e34570a3a440369138aec9"><enum>(3)</enum><header>Repayment period</header><text>The Secretary may not deny a guarantee under this section on the basis of the proposed repayment period for the note or other obligation unless—</text><subparagraph id="idc306e5587aeb432c917cb266639a035a"><enum>(A)</enum><text>the period is more than 20 years; or</text></subparagraph><subparagraph id="idc8976d6f8eda4c21b6680f1ece6484a0"><enum>(B)</enum><text>the Secretary determines that the period causes the guarantee to constitute an unacceptable financial risk.</text></subparagraph></paragraph><paragraph id="ida0870c9a510c43489e5136f1865bae29"><enum>(4)</enum><header>Aggregate principal amount</header><text>Notwithstanding any other provision of law and subject only to the absence of qualified applicants or proposed activities and to the authority provided in this section, to the extent approved or provided in appropriation Acts, the Secretary shall enter into commitments to guarantee notes and obligations under this section with an aggregate principal amount of not more than—</text><subparagraph id="id42cab30233e1485084ece9d3424fde01"><enum>(A)</enum><text>$2,000,000,000 for fiscal year 2023; and</text></subparagraph><subparagraph id="id7e992bed456d4a5b817f3ab2e55a1143"><enum>(B)</enum><text>for each subsequent fiscal year, an amount that is increased for inflation as determined by the Secretary.</text></subparagraph></paragraph></subsection><subsection id="id9748d0ba466e49d09cb7c9e763812e8a"><enum>(c)</enum><header>Prerequisites</header><text>The Secretary may not make a guarantee or commitment to guarantee with respect to any note or other obligation if—</text><paragraph id="idCF39D2F448AA45849BD99E7D4727393F"><enum>(1)</enum><text>the total outstanding notes or obligations of the issuer guaranteed under this section would thereby exceed an amount equal to 5 times the most recent allocation for the issuer under this title; or</text></paragraph><paragraph id="id08F264846100408BB5F0FF90D813E854"><enum>(2)</enum><text>the Secretary determines that the guarantee constitutes an unacceptable risk.</text></paragraph></subsection><subsection id="id5e7f7d00d2be46baabf51fda3dcc3dfb"><enum>(d)</enum><header>Payment of principal, interest, and costs</header><text>Notwithstanding any other provision of this Act, a participating jurisdiction allocated funds under this Act may use the funds (including program income derived therefrom) for the payment of principal and interest due (including such servicing, underwriting, or other costs as may be specified in regulations of the Secretary), and any associated fee to be paid in accordance with subsection (k), on a note or other obligation guaranteed under this section.</text></subsection><subsection id="id7083e6e73b8848d38ec903a9fafba49f"><enum>(e)</enum><header>Repayment contract; security; pledge by participating jurisdiction</header><text>To assure the repayment of a note or other obligation guaranteed under this section and related charges incurred under this section, and as a condition of receiving such a guarantee, the Secretary shall require the issuer of the note or other obligation to—</text><paragraph id="idb3b993e3399e4c8880f444accc760166"><enum>(1)</enum><text>enter into a contract, in a form acceptable to the Secretary, for repayment of the note or other obligation;</text></paragraph><paragraph id="id52cf5cd50c054786985dcc35388e612e"><enum>(2)</enum><text>pledge as security the proceeds of any grant for which the issuer may become eligible under this Act; and</text></paragraph><paragraph id="idc498d63ab7284719986af47aca3b7a71"><enum>(3)</enum><text>furnish, at the discretion of the Secretary, such other security as may be determined appropriate by the Secretary in making the guarantee, including increments in local tax receipts generated by the activities assisted under this Act or proceeds from the sale of land or rehabilitated property.</text></paragraph></subsection><subsection id="id5c01710f2eae4b2a86780e59fed55aaf"><enum>(f)</enum><header>Pledged grants for repayments</header><text>The Secretary may, notwithstanding any other provision of this Act, apply the proceeds of a grant pledged by a participating jurisdiction under subsection (e)(2) to any repayment due the United States as a result of the guarantee under this section of a note or other obligation issued by the participating jurisdiction.</text></subsection><subsection id="id9f776831176c4806bb6e8af08964c681"><enum>(g)</enum><header>Full faith and credit of United States; conclusiveness and validity of guarantee</header><paragraph id="idfe76d3987e824e8eae003687f73da575"><enum>(1)</enum><header>Full faith and credit of united states pledged for payment</header><text>The full faith and credit of the United States is pledged to the payment of a note or other obligation guaranteed under this section.</text></paragraph><paragraph id="iddd00594baa8843da9337868255855a95"><enum>(2)</enum><header>Conclusiveness and validity of guarantee</header><subparagraph id="idbc22ab342b084ed78cb7e44c3770d4d9"><enum>(A)</enum><header>Conclusiveness</header><text>A guarantee made by the Secretary under this section shall be conclusive evidence of the eligibility of the obligation for the guarantee with respect to principal and interest.</text></subparagraph><subparagraph id="id21c8ccd08a9b48598e3714fca317bb6c"><enum>(B)</enum><header>Validity</header><text>The validity of a guarantee made by the Secretary under this section shall be incontestable in the hands of a holder of the guaranteed obligation.</text></subparagraph></paragraph><paragraph id="idf03fd141cd8b4aa48726a54910ec7124"><enum>(3)</enum><header>Limitation on percentage</header><text>A guarantee made under this section shall guarantee repayment of 100 percent of the unpaid principal and interest due on the notes or other obligations guaranteed.</text></paragraph></subsection><subsection id="id4de3eb5a7d9044b18e374b99559c5b0f"><enum>(h)</enum><header>Taxation of interest; grants to issuing participating jurisdiction; hardship assistance</header><paragraph id="idc4cc03ef217b481f9e3cb4da5c299c45"><enum>(1)</enum><header>Taxation of interest paid on guaranteed obligations</header><text>For purposes of the Internal Revenue Code of 1986, interest paid on an obligation issued by a participating jurisdiction that is guaranteed under this section shall be included in the gross income of the recipient of the interest.</text></paragraph><paragraph id="id425a43dfce9b4f26a4fbe17c0f464032"><enum>(2)</enum><header>Grants to issuing participating jurisdiction of taxable obligations for net interest costs</header><text>The Secretary may make, or contract to make, grants, in such amounts as may be approved in appropriation Acts, to or on behalf of the issuing participating jurisdiction to cover not to exceed 30 percent of the net interest cost of obligations issued by the participating jurisdiction that are guaranteed under this section.</text></paragraph><paragraph id="id4b468167608c4f37acd1ce845f18cd75"><enum>(3)</enum><header>Assistance to issuer in hardship cases</header><text>The Secretary may, to the extent approved in appropriation Acts, assist the issuer of a note or other obligation guaranteed under this section in the payment of all or a portion of the principal and interest amount due under the note or other obligation, if the Secretary determines that the issuer is unable to pay the amount because of circumstances of extreme hardship beyond the control of the issuer.</text></paragraph></subsection><subsection id="idafc0659ba7084175a1f2d96631ed6fa3"><enum>(i)</enum><header>Limit on outstanding obligations; monitoring use of guarantees</header><paragraph id="ida98f51cdbde647ca8687c880603c6397"><enum>(1)</enum><header>Limit on outstanding obligations</header><text>The total amount of outstanding obligations guaranteed on a cumulative basis by the Secretary under this section may not at any time exceed the greater of—</text><subparagraph id="idd7ba6125c0fb4c32a726ccfa1e1983f1"><enum>(A)</enum><text>$4,500,000,000; or</text></subparagraph><subparagraph id="id5b743661246c42d0a9e38ac28929a2a3"><enum>(B)</enum><text>such higher amount as may be authorized to be appropriated to carry out this section for a fiscal year.</text></subparagraph></paragraph><paragraph id="idd163dfb3464e476ba04fcc63ca1cc13d"><enum>(2)</enum><header>Monitoring use of guarantees</header><subparagraph id="id8602b20529ec4dfd8e5533dab166178a"><enum>(A)</enum><header>In general</header><text>The Secretary shall monitor the use of guarantees under this section by participating jurisdictions.</text></subparagraph><subparagraph id="id69f90c64b2214b8c999ea0a5767d4fc8"><enum>(B)</enum><header>Actions to ensure sufficient authority</header><text>If the Secretary finds under subparagraph (A) that 50 percent of the aggregate guarantee authority under paragraph (1) has been committed, the Secretary may—</text><clause id="id71796d5abb284f15b89a5fbb51831c37"><enum>(i)</enum><text>provide that a unit of general local government that receives a grant under section 211 may not receive more than $35,000,000 in guarantees under this section; or</text></clause><clause id="iddabe59eebb8448e48eca6a394064abbf"><enum>(ii)</enum><text>submit to Congress a request for the enactment of legislation increasing the amount of the aggregate guarantee authority.</text></clause></subparagraph></paragraph></subsection><subsection id="id34f21f35f47e48ecb0eabf3e5b359b91"><enum>(j)</enum><header>Purchase of guaranteed obligations by federal financing bank</header><text>The Federal Financing Bank may not purchase a note or other obligation guaranteed under this section.</text></subsection><subsection id="id7b73ba1d3ece496f8fe5ac3ce1a385f8"><enum>(k)</enum><header>Imposition of fee or charge</header><text>The Secretary shall collect fees from borrowers to result in a credit subsidy cost of zero for guaranteeing notes or other obligations under this section.</text></subsection><subsection id="id63f34aa2fbd843e3bdf6255159a520c4"><enum>(l)</enum><header>Guarantee of obligations backed by loans</header><paragraph id="idb9c434e4ce55411caef4991c9bb35640"><enum>(1)</enum><header>Authority</header><text>The Secretary may, upon such terms and conditions as the Secretary considers appropriate, guarantee the timely payment of the principal of and interest on such trust certificates or other obligations as may be—</text><subparagraph id="idcb67020523b84626b3d59e2a07771ca4"><enum>(A)</enum><text>offered by the Secretary or by any other offeror approved for purposes of this subsection by the Secretary; and</text></subparagraph><subparagraph id="id29dbc6c0d13146a4b0a229467513bf98"><enum>(B)</enum><text>based on and backed by a trust or pool composed of notes or other obligations guaranteed or eligible for guarantee by the Secretary under this section.</text></subparagraph></paragraph><paragraph id="id622d21d9c8784b3891fb09af50053aa6"><enum>(2)</enum><header>Full faith and credit</header><text>To the same extent as provided in subsection (g), the full faith and credit of the United States is pledged to the payment of all amounts that may be required to be paid under any guarantee made by the Secretary under this subsection.</text></paragraph><paragraph id="id0a54205d4543484c8e7a55538ce2490e"><enum>(3)</enum><header>Subrogation</header><text>If the Secretary pays a claim under a guarantee made under this section, the Secretary shall be subrogated for all the rights of the holder of the guaranteed certificate or obligation with respect to the certificate or obligation.</text></paragraph><paragraph id="id7c5b6115886346859b6df430fd449a27"><enum>(4)</enum><header>Effect of other laws</header><text>No State or local law, and no Federal law, shall preclude or limit the exercise by the Secretary of—</text><subparagraph id="idd13e4d95537446389786d61445fbb671"><enum>(A)</enum><text>the power to contract with respect to public offerings and other sales of notes, trust certificates, and other obligations guaranteed under this section upon such terms and conditions as the Secretary determines appropriate;</text></subparagraph><subparagraph id="id92d31f7298df4ba98301afefff80faac"><enum>(B)</enum><text>the right to enforce any contract described in subparagraph (A) by any means determined appropriate by the Secretary; or</text></subparagraph><subparagraph id="idd75b98577ce14cc6b8f86e2b414d1eb5"><enum>(C)</enum><text>any ownership rights of the Secretary, as applicable, in notes, certificates, or other obligations guaranteed under this section, or constituting the trust or pool against which trust certificates, or other obligations guaranteed under this section, are offered.</text></subparagraph></paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block></section><enum>III</enum><header>Reforms relating to community housing development organization and nonprofit participation</header><section id="id20211f367f7e47208706707cb3c2776b"><enum>301.</enum><header>Modification of rules related to community housing development organizations</header><subsection commented="no" id="id798b613673bc4bbfb038966c643865d4"><enum>(a)</enum><header>Definitions of community housing development organization and community land trust</header><paragraph commented="no" id="idAEC953FFBC214E15923F8E760C7B1509"><enum>(1)</enum><header>In general</header><text>Section 104 of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12704">42 U.S.C. 12704</external-xref>) is amended—</text><subparagraph commented="no" id="id8140577AABA3428EB2B46535DCEA39FC"><enum>(A)</enum><text>in paragraph (6)(B)—</text><clause commented="no" id="id4829588eb3e84093a7b003b34f0b38cd"><enum>(i)</enum><text>by striking <quote>significant</quote>; and</text></clause><clause commented="no" id="id526abab10e6144049f9c0b434e358c5c"><enum>(ii)</enum><text>by striking <quote>and otherwise</quote> and inserting <quote>or as otherwise determined acceptable by the Secretary</quote>; and</text></clause></subparagraph><subparagraph commented="no" id="iddc7d83d662d645bc8ecf68867161313b"><enum>(B)</enum><text>by adding at the end the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id307a63e9f17f4d9aa1b675dfbacf8713"><paragraph id="idb4019e0b876745c89421fa7e0cadcafd"><enum>(26)</enum><text>The term <term>community land trust</term> means a nonprofit entity or a State or local government or instrumentality thereof that—</text><subparagraph id="id5DBC5CB0F62E472E93B4BED42B902FFB"><enum>(A)</enum><text>is not sponsored by a for-profit organization;</text></subparagraph><subparagraph id="idfb8a0fbaee5e48c2b58ec564f5825e9b"><enum>(B)</enum><text>has as a primary purpose the provision and maintenance of housing that provides long-term affordability for low- and moderate-income persons;</text></subparagraph><subparagraph id="id4c3d55d598d646ffa848658f614dd54f"><enum>(C)</enum><text>provides housing described in subparagraph (B) using a ground lease, deed covenant, or other similar legally enforceable measure, as determined by the Secretary, that—</text><clause id="id4b7b1e856d414716a88937ef1d4a528b"><enum>(i)</enum><text>keeps the housing affordable to low- and moderate-income persons for not less than 30 years; and</text></clause><clause id="id9584b2cf1f354760919f636b74f86de6"><enum>(ii)</enum><text>enables low- and moderate-income persons to purchase the housing for homeownership; and</text></clause></subparagraph><subparagraph id="id2719fdeac4f44b819616b6b04f41dfbf"><enum>(D)</enum><text>maintains preemptive purchase options to purchase the property so the housing remains affordable to low-and moderate-income persons.</text></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></subparagraph></paragraph><paragraph commented="no" id="id8C35DE886FED4EA2B230737B81E7C7F6"><enum>(2)</enum><header>Elimination of existing definition of community land trust</header><text>Section 233 of the Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12773">42 U.S.C. 12773</external-xref>) is amended by striking subsection (f).</text></paragraph></subsection><subsection id="id05e57dcc7da246e795dafcb83a73ec5a"><enum>(b)</enum><header>Set-Aside for community housing development organizations</header><text>Section 231 of the Cranston-Gonzalez national Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12771">42 U.S.C. 12771</external-xref>) is amended—</text><paragraph id="id559659390dc94a2f8913c2f406794f2b"><enum>(1)</enum><text>in subsection (a), by striking <quote>to be developed, sponsored, or owned by community housing development organizations</quote> and inserting <quote>when a community housing development organization materially participates in the ownership or development of such housing, as determined by the Secretary</quote>;</text></paragraph><paragraph id="id18c00611878048c3a5a8263c20694bc8"><enum>(2)</enum><text>by striking subsection (b) and inserting the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id7FBC5ACCFF084DE1A82BFE1BE3B45F8C"><subsection commented="no" id="idD9C9EF64056B411EA3892D40F5E51CD4"><enum>(b)</enum><header>Recapture and reuse</header><text>If any funds reserved under subsection (a) remain uninvested for a period of 24 months, then the Secretary shall make such funds available to the participating jurisdiction for any eligible activities under this title without regard to whether a community housing development organization materially participates in the use of the funds.</text></subsection><after-quoted-block>; and</after-quoted-block></quoted-block></paragraph><paragraph id="id1f1c0b79435f4404a15941e655fdebe9"><enum>(3)</enum><text>by striking subsection (c).</text></paragraph></subsection></section><enum>IV</enum><header>Technical corrections</header><section id="id17744d2c3b6f448cbc759dea8cf7c330"><enum>401.</enum><header>Technical corrections</header><text display-inline="no-display-inline">The Cranston-Gonzalez National Affordable Housing Act (<external-xref legal-doc="usc" parsable-cite="usc/42/12701">42 U.S.C. 12701 et seq.</external-xref>) is amended—</text><paragraph id="iddee7baaab7764cbcae8c30f6f1db8ce7"><enum>(1)</enum><text>in section 104 (<external-xref legal-doc="usc" parsable-cite="usc/42/12704">42 U.S.C. 12704</external-xref>)—</text><subparagraph id="id1934ffc45788488fb270712d328a01ce"><enum>(A)</enum><text>by redesignating paragraph (23) (relating to the definition of the term <term>to demonstrate to the Secretary</term>) as paragraph (22); and</text></subparagraph><subparagraph id="id7c8bb5a1e83f4096bd978d2666ba8037"><enum>(B)</enum><text>by redesignating paragraph (24) (relating to the definition of the term <term>insular area</term>, as added by section 2(2) of <external-xref legal-doc="public-law" parsable-cite="pl/102/230">Public Law 102–230</external-xref>) as paragraph (23);</text></subparagraph></paragraph><paragraph id="id59566b76b4fd4793b4c4808ae7065ee7"><enum>(2)</enum><text>in section 105(b) (<external-xref legal-doc="usc" parsable-cite="usc/42/12705">42 U.S.C. 12705(b)</external-xref>)—</text><subparagraph id="id22ad7faf689340c0b6b93ea582e0f66d"><enum>(A)</enum><text>in paragraph (7), by striking <quote>Stewart B. McKinney Homeless Assistance Act</quote> and inserting <quote>McKinney-Vento Homeless Assistance Act</quote>; and</text></subparagraph><subparagraph id="id9a7f9cc63c39401ea74f3e55b68ca9ef"><enum>(B)</enum><text>in paragraph (8), by striking <quote>subparagraphs</quote> and inserting <quote>paragraphs</quote>;</text></subparagraph></paragraph><paragraph id="idb2887abf28b7466385430eef88d71373"><enum>(3)</enum><text>in section 106 (<external-xref legal-doc="usc" parsable-cite="usc/42/12706">42 U.S.C. 12706</external-xref>), by striking <quote>Stewart B. McKinney Homeless Assistance Act</quote> and inserting <quote>McKinney-Vento Homeless Assistance Act</quote>;</text></paragraph><paragraph id="idcc86bfbd9f754651ad17f9df778e8dcd"><enum>(4)</enum><text>in section 108(a)(1) (<external-xref legal-doc="usc" parsable-cite="usc/42/12708">42 U.S.C. 12708(a)(1)</external-xref>), by striking <quote>section 105(b)(15)</quote> and inserting <quote>section 105(b)(18)</quote>;</text></paragraph><paragraph id="idc7df06b8e8364d689104d4b29fe95d90"><enum>(5)</enum><text>in section 212 (<external-xref legal-doc="usc" parsable-cite="usc/42/12742">42 U.S.C. 12742</external-xref>)—</text><subparagraph id="id04bd4673bfe442349f95d81a663d6b52"><enum>(A)</enum><text>in subsection (a)—</text><clause id="idef36249c76aa4c0c972365f1c815a211"><enum>(i)</enum><text>in paragraph (3)(A)(ii), by inserting <quote>United States</quote> before <quote>Housing Act</quote>; and</text></clause><clause id="iddd662cf46fb34aecb4755618078ae2aa"><enum>(ii)</enum><text>by redesignating paragraph (5) as paragraph (4); </text></clause></subparagraph><subparagraph id="ida4ab0861c54044b3abe07786d6919665"><enum>(B)</enum><text>in subsection (d)(5), by inserting <quote>United States</quote> before <quote>Housing Act</quote>; and</text></subparagraph><subparagraph id="id06cc55daa57347518b286788236d70fb"><enum>(C)</enum><text>in subsection (e)(1)—</text><clause id="idAB7E3085CAFC4F209FDE0C7763E77F5B"><enum>(i)</enum><text>by striking <quote>section 221(d)(3)(ii)</quote> and inserting <quote>section 221(d)(4)</quote>; and</text></clause><clause id="id865519DBC3284F0AA300604461045B96"><enum>(ii)</enum><text>by striking <quote>not to exceed 140 percent</quote> and inserting <quote>as determined by the Secretary</quote>;</text></clause></subparagraph></paragraph><paragraph id="id8e62b6094a5a471288f6f30fab599928"><enum>(6)</enum><text>in section 215(a)(6)(B) (42 U.S.C. 20 12745(a)(6)(B)), by striking <quote>grand children</quote> and inserting <quote>grandchildren</quote>;</text></paragraph><paragraph id="ide0696e19da1548009a350b1be050a1d2"><enum>(7)</enum><text>in section 217 (<external-xref legal-doc="usc" parsable-cite="usc/42/12747">42 U.S.C. 12747</external-xref>)—</text><subparagraph id="id670fe057cbe144ffb6cfd0a4865f0954"><enum>(A)</enum><text>in subsection (a)—</text><clause commented="no" display-inline="no-display-inline" id="ide36175e858b5432c97631c995395c685"><enum>(i)</enum><text>in paragraph (1), by striking <quote>(3)</quote> and inserting <quote>(2)</quote>;</text></clause><clause id="id6e02f05918194a5a8d575d568d703d22"><enum>(ii)</enum><text>by striking paragraph (3), as added by section 211(a)(2)(D) of the Housing and Community Development Act of 1992 (<external-xref legal-doc="public-law" parsable-cite="pl/102/550">Public Law 102–550</external-xref>; 106 Stat. 3756); and </text></clause><clause id="id4721c58faf92417bb867a4e6303fe046"><enum>(iii)</enum><text>by redesignating the remaining paragraph (3), as added by the matter under the heading <quote><header-in-text level="appropriations-small" style="appropriations">Home investment partnerships program</header-in-text></quote> under the heading <quote><header-in-text level="appropriations-intermediate" style="appropriations">Housing programs</header-in-text></quote> in title II of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1993 (<external-xref legal-doc="public-law" parsable-cite="pl/102/389">Public Law 102–389</external-xref>; 106 Stat. 1581), as paragraph (2); and</text></clause></subparagraph><subparagraph id="id88a8bdbc7b994e2db6403191821a865c"><enum>(B)</enum><text>in subsection (b)—</text><clause commented="no" display-inline="no-display-inline" id="idc0761e1e4daf48ae85847923965773ff"><enum>(i)</enum><text display-inline="yes-display-inline">in paragraph (1)—</text><subclause id="idcd5ee2806c324fcd894d9bf33860deb6"><enum>(I)</enum><text>in the first sentence of subparagraph (A)—</text><item id="idBB414A295A7045BD8FDCA4DE76989C57"><enum>(aa)</enum><text>by striking <quote>in regulation</quote> and inserting <quote>, by regulation,</quote>; and</text></item><item id="id049331C73DFD4FC09CB4F2D3CF1BA614"><enum>(bb)</enum><text>by striking <quote>eligible jurisdiction</quote> and inserting <quote>eligible jurisdictions</quote>; and</text></item></subclause><subclause id="ida74d9822072d4b3f8dfd24055ba0f9a2"><enum>(II)</enum><text>in subparagraph (F)—</text><item commented="no" display-inline="no-display-inline" id="idaa6d4f217ae244c98b8f17ac0df3e8a0"><enum>(aa)</enum><text display-inline="yes-display-inline">in the first sentence—</text><subitem commented="no" display-inline="no-display-inline" id="id59cd0fb882db4ca5b5da0c15ff50e812"><enum>(AA)</enum><text display-inline="yes-display-inline">in clause (i), by striking <quote>Subcommittee on Housing and Urban Affairs</quote> and inserting <quote>Subcommittee on Housing, Transportation, and Community Development</quote>; and</text></subitem><subitem commented="no" display-inline="no-display-inline" id="id24ec61a603b64d569bd145f725f3fd19"><enum>(BB)</enum><text display-inline="yes-display-inline">in clause (ii), by striking <quote>Subcommittee on Housing and Community Development of the Committee on Banking, Finance and Urban Affairs</quote> and inserting <quote>Subcommittee on Housing and Insurance of the Committee on Financial Services</quote>; and</text></subitem></item><item commented="no" display-inline="no-display-inline" id="id8452b239c52e41cc9996cdd60ed45cca"><enum>(bb)</enum><text display-inline="yes-display-inline">in the second sentence, by striking <quote>the Committee on Banking, Finance and Urban Affairs of the House of Representatives</quote> and inserting <quote>the Committee on Financial Services of the House of Representatives</quote>; </text></item></subclause></clause><clause id="id8a587dc01cff4bf492e3dabbc29ecaee" commented="no"><enum>(ii)</enum><text>in paragraph (2)(B), by striking <quote>$500,000</quote> each place that term appears and inserting <quote>$750,000</quote>;</text></clause><clause id="id4F9A1FC954384E3797198EA0C51DC9C4" commented="no"><enum>(iii)</enum><text>in paragraph (3)—</text><subclause commented="no" display-inline="no-display-inline" id="idac73e211a7b24c5387757e205412c5cd"><enum>(I)</enum><text display-inline="yes-display-inline">by striking <quote>$500,000</quote> each place that term appears and inserting <quote>$750,000</quote>; and</text></subclause><subclause commented="no" display-inline="no-display-inline" id="id668151e6e1fd4350b9277f931e76fff4"><enum>(II)</enum><text>by striking <quote>, except as provided in paragraph (4)</quote>; and</text></subclause></clause><clause id="iddddb3454e0644abe8d2ae4c176bfb172" commented="no"><enum>(iv)</enum><text>by striking paragraph (4);</text></clause></subparagraph></paragraph><paragraph id="id319b2069a8cc4cb0baf9206b9bbba222"><enum>(8)</enum><text>in section 220(c) (<external-xref legal-doc="usc" parsable-cite="usc/42/12750">42 U.S.C. 12750(c)</external-xref>)—</text><subparagraph id="id492f4ec72f794860a8cb84c3c30561c6"><enum>(A)</enum><text>in paragraph (3), by striking <quote>Secretary</quote> and all that follows and inserting <quote>Secretary;</quote>;</text></subparagraph><subparagraph id="id5910F3FCD9CA4A668B3D1B23A8F3A8D9"><enum>(B)</enum><text>in paragraph (4), by striking <quote>under this title</quote> and all that follows and inserting <quote>under this title;</quote>; and</text></subparagraph><subparagraph id="idd5dfd2a0ab834650bef68758dbff1b30"><enum>(C)</enum><text>by redesignating paragraphs (6), (7), and (8) as paragraphs (5), (6), and (7), respectively;</text></subparagraph></paragraph><paragraph id="id65445a775b1e475ba1d5628770226dc5"><enum>(9)</enum><text>in section 225(d)(4)(B) (<external-xref legal-doc="usc" parsable-cite="usc/42/12755">42 U.S.C. 12755(d)(4)(B)</external-xref>), by striking <quote>for</quote> the first place that term appears; and</text></paragraph><paragraph id="id62be0c16c213472b8e5f31713f2076ab"><enum>(10)</enum><text>in section 283 (<external-xref legal-doc="usc" parsable-cite="usc/42/12833">42 U.S.C. 12833</external-xref>)—</text><subparagraph id="id895186f3716647728a1de5e8759f5932"><enum>(A)</enum><text>in subsection (a), by striking <quote>Banking, Finance and Urban Affairs</quote> and inserting <quote>Financial Services</quote>; and</text></subparagraph><subparagraph id="id483bbc5d793448e997b237d7926b83b9"><enum>(B)</enum><text>in subsection (b), by striking <quote>General Accounting Office</quote> each place that term appears and inserting <quote>Government Accountability Office</quote>.</text></subparagraph></paragraph></section>