[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 5027 Introduced in Senate (IS)]

<DOC>






118th CONGRESS
  2d Session
                                S. 5027

 To increase access to affordable housing, reduce regulatory barriers, 
          increase oversight, and assist the most vulnerable.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 11, 2024

 Mr. Scott of South Carolina (for himself, Mr. Crapo, Mr. Rounds, Mr. 
Hagerty, Ms. Lummis, Mrs. Britt, Mr. Cramer, and Mr. Daines) introduced 
the following bill; which was read twice and referred to the Committee 
                 on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To increase access to affordable housing, reduce regulatory barriers, 
          increase oversight, and assist the most vulnerable.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Renewing 
Opportunity in the American Dream to Housing Act'' or the ``ROAD to 
Housing Act''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
                 TITLE I--IMPROVING FINANCIAL LITERACY

Sec. 101. Reforms to housing counseling and financial literacy 
                            programs.
                 TITLE II--INCREASING ACCESS TO HOUSING

Sec. 201. Rental assistance demonstration program.
Sec. 202. Creating incentives for small dollar loan originators.
Sec. 203. Small dollar mortgage points and fees.
                   TITLE III--REGULATORY FLEXIBILITY

Sec. 301. Authorization of Moving to Work Program.
Sec. 302. Improving self-sufficiency of families in HUD-subsidized 
                            housing.
Sec. 303. Updating the definition of manufactured home.
                 TITLE IV--SERVING THE MOST VULNERABLE

Sec. 401. Incentivizing local solutions to homelessness.
                     TITLE V--PROMOTING OPPORTUNITY

Sec. 501. Increasing housing in opportunity zones.
                       TITLE VI--GOOD GOVERNANCE

Sec. 601. Requiring annual testimony and oversight from housing 
                            regulators.
Sec. 602. FHA reporting requirements on safety and soundness.
Sec. 603. United States Interagency Council on Homelessness.
Sec. 604. Neighborhood Reinvestment Corporation oversight.

                 TITLE I--IMPROVING FINANCIAL LITERACY

SEC. 101. REFORMS TO HOUSING COUNSELING AND FINANCIAL LITERACY 
              PROGRAMS.

    (a) In General.--Section 106 of the Housing and Urban Development 
Act of 1968 (12 U.S.C. 1701x) is amended--
            (1) in subsection (a)(4)--
                    (A) in subparagraph (B), by striking ``subparagraph 
                (D)'' and inserting ``subparagraph (E)'';
                    (B) in subparagraph (C), by striking ``adequate 
                distribution'' and all that follows through 
                ``foreclosure rates'' and inserting ``that the 
                recipients are geographically diverse and include 
                organizations that serve urban or rural areas'';
                    (C) by redesignating subparagraphs (D), (E), and 
                (F) as subparagraphs (E), (F), and (G), respectively; 
                and
                    (D) by inserting after subparagraph (C) the 
                following:
                    ``(D) Priority consideration.--In distributing 
                assistance made available under this paragraph, the 
                Secretary shall give priority consideration to entities 
                serving areas with the highest home foreclosure 
                rates.''.
            (2) in subsection (e), by adding at the end the following:
            ``(6) Considerations.--
                    ``(A) Covered mortgage loan defined.--In this 
                paragraph, the term `covered mortgage loan' means any 
                loan which is secured by a first or subordinate lien on 
                residential real property (including individual units 
                of condominiums and cooperatives) designed principally 
                for the occupancy of from 1- to 4-families that is--
                            ``(i) insured by the Federal Housing 
                        Administration under title II of the National 
                        Housing Act (12 U.S.C. 1707 et seq.); or
                            ``(ii) guaranteed under section 184 or 184A 
                        of the Housing and Community Development Act of 
                        1992 (12 U.S.C. 1715z-13a, 1715z-13b).
                    ``(B) Comparison.--For each counselor employed by 
                an organization receiving assistance under this 
                section, the Secretary shall consider the competence of 
                the counselor compared to the default rate of all 
                counseled borrowers of a covered mortgage loan in 
                comparable markets, and such other factors as the 
                Secretary determines appropriate to further the 
                purposes of this section.
            ``(7) Suspension of certification.--If, based on the 
        comparison required under paragraph (6)(B), the Secretary 
        determines that a counselor lacks competence to provide 
        counseling in the areas described in subsection (e)(2), the 
        Secretary may--
                    ``(A) require retesting of the individual; or
                    ``(B) suspend the certification under this 
                subsection for the individual.''; and
            (3) in subsection (i)--
                    (A) by redesignating paragraph (3) as paragraph 
                (4); and
                    (B) by inserting after paragraph (2) the following:
            ``(3) Termination of assistance.--
                    ``(A) In general.--The Secretary may deny future 
                covered assistance to an organization or entity 
                receiving covered assistance if the Secretary 
                determines that the organization or entity, or the 
                individual through which the organization or entity 
                provides such counseling, presents an unacceptable risk 
                to families accessing counseling services or the 
                programs under which covered mortgage loans (as defined 
                in subsection (e)(6)(A)), which determination shall 
                be--
                            ``(i) based on the comparison required 
                        under subsection (e)(6)(B); and
                            ``(ii) made in accordance with regulations 
                        issued by the Secretary.
                    ``(B) Notice.--
                            ``(i) In general.--The Secretary shall give 
                        an organization or entity receiving covered 
                        assistance at least 60 days prior written 
                        notice of any termination under this paragraph, 
                        and the termination shall take effect at the 
                        end of the notice period, unless the Secretary 
                        withdraws the termination notice or extends the 
                        notice period.
                            ``(ii) Informal conference.--If requested 
                        in writing by the organization or entity within 
                        30 days of the date of the notice described in 
                        clause (i), the organization or entity shall be 
                        entitled to an informal conference with the 
                        official authorized to issue termination 
                        notices on behalf of the Secretary (or a 
                        designee of that official) at which the 
                        organization or entity may present for 
                        consideration specific factors that the 
                        organization or entity believes were beyond the 
                        control of the organization or entity and that 
                        caused the excessive default rates.''.
    (b) Offering Foreclosure Mitigation Counseling.--
            (1) Covered mortgage loan defined.--In this subsection, the 
        term ``covered mortgage loan'' means any loan which is secured 
        by a first or subordinate lien on residential real property 
        (including individual units of condominiums and cooperatives) 
        designed principally for the occupancy of from 1- to 4-families 
        that is--
                    (A) insured by the Federal Housing Administration 
                under title II of the National Housing Act (12 U.S.C. 
                1707 et seq.);
                    (B) guaranteed under section 184 or 184A of the 
                Housing and Community Development Act of 1992 (12 
                U.S.C. 1715z-13a, 1715z-13b);
                    (C) made, guaranteed, or insured by the Department 
                of Veterans Affairs; or
                    (D) made, guaranteed, or insured by the Department 
                of Agriculture.
            (2) Opportunity for borrowers.--A borrower with respect to 
        a covered mortgage loan who is 60 days or more delinquent on 
        payments for the covered mortgage loan shall be given an 
        opportunity to participate in housing counseling.
            (3) Cost.--The cost of counseling for delinquent borrowers 
        described in paragraph (2) with respect to a covered mortgage 
        loan described in paragraph (1)(A) shall be paid for by the 
        Mutual Mortgage Insurance Fund, as authorized under section 
        203(r)(4) of the National Housing Act (12 U.S.C. 1709(r)(4)).

                 TITLE II--INCREASING ACCESS TO HOUSING

SEC. 201. RENTAL ASSISTANCE DEMONSTRATION PROGRAM.

    The language under the heading ``Rental Assistance Demonstration'' 
in the Department of Housing and Urban Development Appropriations Act, 
2012 (Public Law 112-55), is amended--
            (1) by striking the second proviso; and
            (2) by striking the fourth proviso.

SEC. 202. CREATING INCENTIVES FOR SMALL DOLLAR LOAN ORIGINATORS.

    (a) Small Dollar Mortgage Defined.--In this section, the term 
``small dollar mortgage'' means a mortgage loan having an original 
principal obligation of not more than $70,000 that is--
            (1) secured by real property designed for the occupancy of 
        1 to 4 families; and
            (2)(A) insured by the Federal Housing Administration under 
        title II of the National Housing Act (12 U.S.C. 1707 et seq.);
            (B) made, guaranteed, or insured by the Department of 
        Veterans Affairs;
            (C) made, guaranteed, or insured by the Department of 
        Agriculture; or
            (D) eligible to be purchased or securitized by the Federal 
        Home Loan Mortgage Corporation or the Federal National Mortgage 
        Association.
    (b) Requirement To Update Regulations.--Not later than 270 days 
after the date of enactment of this Act, the Director of the Bureau of 
Consumer Financial Protection shall issue regulations to update part 
1026 of title 12, Code of Federal Regulations (commonly referred to as 
``Regulation Z'') to provide flexibilities for loan originator 
compensation that encourage origination of small dollar mortgages.

SEC. 203. SMALL DOLLAR MORTGAGE POINTS AND FEES.

    (a) Definition.--In this section, the term ``small dollar 
mortgage'' means a mortgage with an original principal obligation of 
less than $70,000.
    (b) Amendments Required.--Not later than 270 days after the date of 
enactment of this Act, the Director of the Bureau of Consumer Financial 
Protection, in consultation with the Secretary of Housing and Urban 
Development and the Director of the Federal Housing Finance Agency, 
shall amend the limitations with respect to points and fees under 
section 1026.43 of title 12, Code of Federal Regulations, or any 
successor regulation, to encourage additional lending for small dollar 
mortgages.

                   TITLE III--REGULATORY FLEXIBILITY

SEC. 301. AUTHORIZATION OF MOVING TO WORK PROGRAM.

    (a) Program Reforms.--Section 204 of the Departments of Veterans 
Affairs and Housing and Urban Development, and Independent Agencies 
Appropriations Act, 1996 (42 U.S.C. 1437f note) is amended--
            (1) in the section heading, by striking ``demonstration'' 
        and inserting ``program'';
            (2) by striking subsection (a) and inserting the following:
    ``(a) Purposes.--The purposes of the program under this section are 
as follows:
            ``(1) Economic independence.--To develop measures to 
        promote economic independence for families with children whose 
        head of household is working, seeking work, or preparing for 
        work, and for persons who are able to work, to obtain 
        employment and become economically independent, by 
        participating in job training, educational programs, or other 
        supportive services and programs that assist in meeting such 
        goal.
            ``(2) Flexibility and cost-effectiveness.--To give public 
        housing agencies and the Secretary of Housing and Urban 
        Development the flexibility to design and implement various 
        approaches for providing and administering housing assistance 
        that reduce cost and achieve greater cost effectiveness in 
        Federal expenditures.
            ``(3) Housing choice.--To increase housing choices for low-
        income families.'';
            (3) in subsection (b)--
                    (A) by striking ``(b) Program Authority.--The 
                Secretary'' and inserting the following:
    ``(b) Program Authority.--
            ``(1) In general.--The Secretary'';
                    (B) in the first sentence, by striking ``conduct a 
                demonstration program'' and all that follows through 
                ``Indian housing program and'' and inserting ``carry 
                out a program under this section under which public 
                housing agencies administering the public housing 
                program or'';
                    (C) by inserting after the first sentence the 
                following: ``There shall be no limitation on the number 
                of public housing agencies that may participate in the 
                program under this section.'';
                    (D) by striking ``The Secretary shall'' and all 
                that follows through ``demonstration.'' and inserting 
                the following:
            ``(2) Identification of replicable models.--The Secretary 
        shall provide training and technical assistance under the 
        program and conduct detailed evaluations of various agencies to 
        identify replicable program models promoting the purposes of 
        the program.'';
                    (E) by striking ``Under the demonstration'' and 
                inserting the following:
            ``(3) Combination of assistance.--Under the program under 
        this section''; and
                    (F) by striking ``operating assistance provided 
                under section 9 of the United States Housing Act of 
                1937, modernization assistance provided under section 
                14'' and inserting ``amounts provided to the agency 
                from the Operating Fund under section 9(e) of the 
                United States Housing Act of 1937, amounts provided to 
                the agency from the Capital Fund under section 9(d)'';
            (4) in subsection (c)--
                    (A) in the matter preceding paragraph (1), by 
                striking ``demonstration'' and inserting ``program 
                under this section'';
                    (B) in paragraph (1), by striking ``9, and 14'' and 
                inserting ``9(d), and 9(e)'';
                    (C) in paragraph (3)--
                            (i) in subparagraph (A), by striking 
                        ``demonstration'';
                            (ii) in subparagraph (B)--
                                    (I) by striking ``self-
                                sufficiency'' and inserting ``economic 
                                independence''; and
                                    (II) by striking ``purpose of this 
                                demonstration'' and inserting ``purpose 
                                of the program under subsection 
                                (a)(1)'';
                            (iii) in subparagraph (D), by striking 
                        ``demonstration'' and inserting ``program under 
                        this section;'';
                            (iv) in subparagraph (E), by striking 
                        ``demonstration program'' and inserting 
                        ``program under this section'';
                            (v) by redesignating subparagraphs (A), 
                        (B), (C), (D), and (E) as subparagraphs (B), 
                        (C), (D), (G), and (H), respectively;
                            (vi) by inserting before subparagraph (B), 
                        as so redesignated, the following:
                    ``(A) actions to be taken under the proposed 
                program to achieve the purposes of the program under 
                paragraphs (1), (2), and (3) of subsection (a);''; and
                            (vii) by inserting after subparagraph (D), 
                        as so redesignated, the following:
                    ``(E) hardship exceptions consistent with the 
                purposes under subsection (a) under which tenants may 
                be temporarily exempted from compliance with the 
                program operated by the agency in the event of 
                extenuating circumstances preventing such compliance 
                and a process that provides tenants with recourse to a 
                speedy determination regarding such an exception and 
                makes available the contents and results of such a 
                determination available to the public and the board of 
                directors or other governing body on request of the 
                tenant concerned and the director or other head 
                official of the agency;
                    ``(F) providing assisted families and participants 
                in the program operated by the agency with an informal 
                administrative hearing or grievance process, prior to 
                any eviction or termination of assistance, which 
                process shall make the content and determination of the 
                hearing available to the public and the board of 
                directors or other governing body on request of the 
                tenant concerned and the director or other head 
                official of the agency;''; and
                    (D) in paragraph (4), by striking ``demonstration'' 
                and inserting ``proposed program'';
            (5) in subsection (d)--
                    (A) by striking ``(d) Selection.--In selecting 
                among applications, the Secretary shall take into 
                account the potential of each agency to plan and carry 
                out a program under the demonstration'' and inserting 
                the following:
    ``(d) Applications for Participation.--
            ``(1) Submission; standards for participation.--The 
        Secretary shall provide for public housing agencies to submit 
        applications for participation in the program under this 
        section and shall establish, and make public, standards and 
        requirements for participation that further the purposes of 
        this program set forth in subsection (a), which shall--
                    ``(A) provide that all public housing agencies 
                designated as high performers pursuant to part 902 or 
                subpart B of part 985, Code of Federal Regulations, at 
                any time during the most recent 2 fiscal years are 
                invited to submit applications for consideration;
                    ``(B) provide that participation of a public 
                housing agency, upon approval, shall be for a period 
                not shorter than 10 years;
                    ``(C) include a common set of performance metrics 
                for use under the program that allow for comparison of 
                the performance of different public housing agencies 
                under the program; and
                    ``(D) require that each public housing agency 
                include in its application--
                            ``(i) a list of innovative proposals to be 
                        carried out under the program that are designed 
                        to reduce the cost of, and increase the cost-
                        efficiency of, housing provided in connection 
                        with the program and metrics to assess the 
                        progress of the agency toward such goals; and
                            ``(ii) a list of innovative manners in 
                        which the public housing agency will use the 
                        authorities under the program to assist 
                        families, goals regarding such activities to 
                        accomplish on an annual basis, and metrics to 
                        assess the progress of the agency toward such 
                        goals.
            ``(2) Determination and notification.--
                    ``(A) Review and determination.--Upon receipt of an 
                application for participation in the program under this 
                section, the Secretary shall provide for review such 
                application by a selection panel comprised of Federal 
                officials and employees and established by the 
                Secretary for such purpose. Based on such review, such 
                selection panel shall make a determination of whether 
                to approve such agency for participation in the program 
                under this section, based on the criteria under 
                paragraph (4).
                    ``(B) Notification.--Upon making a determination 
                pursuant to subparagraph (A), the selection panel shall 
                notify the public housing agency, the Secretary, and 
                the governments for any counties and municipalities in 
                which the jurisdiction of the public housing agency is 
                located of such determination. In the case of 
                disapproval of an application, such notice shall 
                include a statement specifying the reasons for such 
                disapproval.
            ``(3) Transition.--
                    ``(A) Numerical limitation.--
                            ``(i) In general.--The Secretary shall 
                        review and process such applications as to 
                        enable the transition of not fewer than 25 
                        public housing agencies per year to the program 
                        under this section (subject to eligible 
                        applications), until such time as there are not 
                        25 public housing agencies whose applications 
                        merit approval.
                            ``(ii) Reserved spots for small and rural 
                        phas.--Of the applications of public housing 
                        agencies approved in each year pursuant to 
                        clause (i), not less than 10 shall be 
                        applications of public housing agencies that 
                        administer, in the aggregate, fewer than 6,000 
                        vouchers for rental assistance under section 8 
                        of the United States Housing Act of 1937 (42 
                        U.S.C. 1437f) and public housing dwelling 
                        units, except that if for any year the 
                        Secretary receives fewer than 10 applications 
                        by public housing agencies described in this 
                        clause that merit approval, the requirement 
                        under this clause shall apply for such year 
                        only to the extent of the number of such 
                        approvable applications received.
                            ``(iii) Treatment of new mtw agencies.--Any 
                        agency that is newly transitioned under this 
                        subparagraph to participation in the program as 
                        in effect pursuant to the amendments made by 
                        the Renewing Opportunity in the American Dream 
                        to Housing Act shall count toward fulfillment 
                        of the numerical limitation in clause (i), 
                        notwithstanding the authority under section 239 
                        of the Transportation, Housing and Urban 
                        Development, and Related Agencies 
                        Appropriations Act, 2016 (division L of Public 
                        Law 114-113) or any other provision of law 
                        other than this section authorizing 
                        participation of new agencies.
                    ``(B) Revisions.--The Secretary shall, from time to 
                time and in consultation with public housing agencies, 
                amend governing documents for participation by agencies 
                in the program under this section, as the Secretary 
                determines necessary.
                    ``(C) Renewal of participation.--
                            ``(i) In general.--The Secretary shall 
                        provide that upon expiration of a contract for 
                        participation by a public housing agency in the 
                        program under this section, to continue 
                        participating in the program, the public 
                        housing agency shall be required to request to 
                        renew the participation of the agency with the 
                        Secretary. The standards and requirements 
                        applicable to applications for initial 
                        participation in the program shall also apply 
                        to applications for renewed participation in 
                        the program. Renewed participation of a public 
                        housing agency under this clause shall proceed 
                        under the same terms applicable for the initial 
                        participation of the public housing agency in 
                        the program.
                            ``(ii) Treatment of numerical limitation.--
                        An agency approved for continued participation 
                        in the program pursuant to recertification 
                        under this subparagraph shall not count toward 
                        fulfillment of the numerical limitation in 
                        subparagraph (A)(i).
            ``(4) Criteria.--The Secretary shall establish criteria for 
        approval of applications of public housing agencies for 
        participation in the program under this section, which shall 
        provide for approval of applications that are reasonably 
        designed to carry out the purposes of the program under 
        subsection (a). Such criteria shall take into consideration the 
        capacity and the potential of each agency to plan and carry out 
        a program'';
                    (B) by striking ``each'' and inserting ``the'';
                    (C) by striking ``a program under the 
                demonstration'' and inserting ``the proposed program in 
                the application''; and
                    (D) by striking ``an agency'' and inserting ``the 
                agency'';
            (6) in subsection (e)--
                    (A) in paragraph (1), by striking ``this 
                demonstration'' and inserting ``the program under this 
                section''; and
                    (B) in paragraph (2), by striking ``demonstration'' 
                and inserting ``program under this section'';
            (7) in subsection (f), by striking ``section 9, or pursuant 
        to section 14 by a public housing agency participating in the 
        demonstration under this part'' and inserting ``of the United 
        States Housing Act of 1937, or provided from the Operating Fund 
        under section 9(e) or from the Capital Fund under section 9(d) 
        of such Act, by a public housing agency participating in the 
        program under this section'';
            (8) in subsection (g)--
                    (A) in paragraph (1), by inserting ``, including 
                performance in achieving each of the purposes of the 
                program specified in subsection (a)'';
                    (B) in paragraph (2)--
                            (i) in the first sentence--
                                    (I) by inserting ``, and including 
                                such content, as shall be'' before 
                                ``specified by the Secretary''; and
                                    (II) by inserting ``, but not less 
                                often than annually'' before the period 
                                at the end; and
                            (ii) in the second sentence--
                                    (I) in subparagraph (B), by 
                                striking ``the demonstration'' and 
                                inserting ``the program''; and
                                    (II) by striking subparagraph (C) 
                                and inserting the following:
                    ``(C) describe and analyze the effects of the 
                program of the agency and the assisted activities under 
                such program in addressing and achieving the objectives 
                of the program under this section and each of the 
                purposes specified in subsection (a), including the 
                effects of the program on--
                            ``(i) the number of new families the agency 
                        has been able to assist from the waiting lists 
                        for housing assistance that is administered by 
                        the agency, including vouchers for rental 
                        assistance under section 8(o) of the United 
                        States Housing Act of 1937 (42 U.S.C. 1437f(o)) 
                        and dwelling units in public housing, as a 
                        result of the flexibility of funds and 
                        achievement of economic independence;
                            ``(ii) the cost and annual change, per 
                        family participating in the program, of 
                        providing housing assistance referred to in 
                        clause (i) that is administered by the agency;
                            ``(iii) any cost savings and additional 
                        housing resulting from the program; and
                            ``(iv) the household incomes, and changes 
                        in such incomes, of members of families 
                        participating in the program who are not exempt 
                        from work requirements; and
                            ``(v) such other factors as the Secretary 
                        considers appropriate.'';
                    (C) by redesignating paragraphs (3) and (4) as 
                paragraphs (5) and (6); and
                    (D) by inserting after paragraph (2) the following 
                new paragraphs:
            ``(3) Annual plan.--
                    ``(A) Requirement.--Each agency shall submit 
                annually to the Secretary, together with the report 
                under paragraph (2), a plan for the program of the 
                agency for the upcoming year and shall make such plan 
                publicly available.
                    ``(B) Form and metrics.--Each annual plan shall be 
                set forth in a standard form, prescribed by the 
                Secretary and shall utilize common performance metrics 
                that allow for comparison of the plans of all public 
                housing agencies participating in the program.
                    ``(C) Content.--Each annual plan shall include such 
                content as the Secretary shall specify, which shall 
                include--
                            ``(i) a description and explanation of all 
                        new rules and policy changes adopted by the 
                        agency in accordance with this section and the 
                        program under this section and, with respect to 
                        such new rules and policy changes--
                                    ``(I) a description of the effect 
                                such rules and changes will have on the 
                                operation of the agency as compared to 
                                the preceding year and as compared to 
                                the operations of the agency other than 
                                under the program under this section;
                                    ``(II) a description of the extent 
                                to which such rules and changes helped 
                                to achieve the annual goals identified 
                                in the public housing agency's 
                                application pursuant to subsection 
                                (d)(1)(E) and, in the case of any such 
                                goals not achieved, a description of 
                                the extent to which such goals were not 
                                achieved and the reasons for such 
                                failure; and
                                    ``(III) whether the adoption of 
                                such new rules and policy changes 
                                required an adjustment in the annual 
                                goals identified in the public housing 
                                agency's application pursuant to 
                                subsection (d)(1);
                            ``(ii) a plan for all capital assets and 
                        anticipated construction and rehabilitation 
                        activities of the public housing agency in the 
                        upcoming year and a description of whether and 
                        how such activities are authorized and assisted 
                        under the program under this section; and
                            ``(iii) assurances satisfactory to the 
                        Secretary that such plan will conform with all 
                        applicable provisions of title VI of the Civil 
                        Rights Act of 1964 (42 U.S.C. 2000d et seq.), 
                        the Fair Housing Act (42 U.S.C. 3601 et seq.), 
                        section 504 of the Rehabilitation Act of 1973 
                        (29 U.S.C. 794), and the Americans with 
                        Disabilities Act of 1990 (42 U.S.C. 12101 et 
                        seq.).
            ``(4) Public and resident participation.--
                    ``(A) Notification of residents.--Each public 
                housing agency shall annually hold a meeting to notify 
                all assisted families participating in the program of 
                the public housing agency of the contents of the plan 
                under paragraph (3) for such year and impacts on such 
                assisted families. Any public housing agency that 
                assists, in the aggregate, more than 50,000 families or 
                assists families in multiple counties shall hold as 
                many meetings as necessary to provide each assisted 
                family a good-faith opportunity to attend such a 
                meeting.
                    ``(B) Public comment.--Each annual report under 
                paragraph (2) and annual plan under paragraph (3) 
                shall--
                            ``(i) be made available for inspection and 
                        public comment 30 days before the meeting 
                        required by subparagraph (A) regarding such 
                        plan or report; and
                            ``(ii) be approved in a public meeting of 
                        the board of directors or other governing body 
                        of the public housing agency before submission 
                        to the Secretary.
                    ``(C) Public availability.--Each annual report 
                under paragraph (2) and annual plan under paragraph (3) 
                shall, upon submission to the Secretary, be made 
                publicly available and shall include all comments 
                provided pursuant to subparagraph (B).'';
            (9) in subsection (h)--
                    (A) in paragraph (1), by striking ``demonstration'' 
                and inserting ``program under this section''; and
                    (B) by striking paragraph (2) and inserting the 
                following:
            ``(2) Review.--The Secretary shall annually review the 
        activities of each public housing agency participating in the 
        program under this section and, based on such review and the 
        information submitted by the agency pursuant to subsection (g), 
        determine--
                    ``(A) the impact and effectiveness of the public 
                housing agency's program and activities in achieving 
                each of the purposes of the program specified in 
                subsection (a), including an assessment of such impact 
                and effectiveness using the common set of budget 
                metrics established pursuant to subsection (d)(1)(D);
                    ``(B) the progress of the public housing agency 
                toward meeting the goals identified in the public 
                housing agency's application pursuant to subsection 
                (d)(1)(E), using the metrics identified in the public 
                housing agency's application pursuant to such 
                subsection; and
                    ``(C) the extent of compliance by the public 
                housing agency with the requirements of the program 
                under this section and, in determining such extent of 
                compliance, shall take into consideration the unique 
                characteristics of the public housing agency.
            ``(3) Verification of accuracy.--In assessing information 
        submitted by public housing agencies pursuant to subsection (g) 
        and in reviewing such information and making determinations 
        pursuant to paragraph (2) of this subsection, the Secretary 
        shall carry out control activities and procedures designed to 
        verify the accuracy of such information, which shall include 
        auditing a representative sample of such information using 
        standard statistical methods.
            ``(4) Continued participation.--The Secretary shall not 
        terminate the participation of any public housing agency in the 
        program under this section unless the Secretary finds that the 
        agency--
                    ``(A) is in material default of the conditions and 
                obligations under the governing document for the 
                participation in the program;
                    ``(B) as demonstrated in its reports under 
                subsection (g)(2) and its annual budget plans under 
                subsection (g)(3), has persistently failed to meet the 
                goals identified in its application, and the reasons or 
                circumstances specified in the public housing agency's 
                reports and plans for such failure are not sufficient 
                to justify the continued failure;
                    ``(C) has misused or misappropriated funds;
                    ``(D) has failed to make a good faith effort to 
                carry out the purposes of the program specified in 
                subsection (a); or
                    ``(E) has failed to cure a material deficiency in 
                performance after notice and an opportunity to correct 
                the deficiency.
            ``(5) Corrective action program.--The Secretary shall carry 
        out a program--
                    ``(A) to identify public housing agencies 
                participating in the program under this section that 
                are at risk of termination of such participation 
                pursuant to paragraph (6);
                    ``(B) to consult with such public housing agencies 
                regarding actions that may be taken to avoid such 
                termination;
                    ``(C) to establish goals and timelines for such 
                corrective actions; and
                    ``(D) to provide appropriate technical assistance 
                designed to facilitate such actions and avoid such 
                termination.
            ``(6) Termination of participation.--Any public housing 
        agency whose participation in the program under this section is 
        terminated shall be subject to the provisions of the United 
        States Housing Act of 1937 (42 U.S.C. 1437 et seq.) and all 
        other provisions of law applicable to public housing agencies 
        not participating in the program, except that the Secretary 
        shall provide a transition period, that begins upon such 
        termination and is not shorter than 18 months, for such public 
        housing agencies to come into compliance with such laws.
            ``(7) Reports to congress.--Not later than the expiration 
        of the 5-year period beginning on the date of the enactment of 
        the Renewing Opportunity in the American Dream to Housing Act, 
        and not later than the expiration of each successive 5-year 
        period thereafter, the Secretary shall submit a report to the 
        Congress regarding the program under this section and the 
        results of the reviews conducted under paragraph (2), which 
        shall--
                    ``(A) evaluate the programs carried out by public 
                housing agencies participating in the program, 
                including with respect to each of the purposes 
                specified in subsection (a); and
                    ``(B) include findings and recommendations for 
                appropriate legislative changes to the program.
            ``(8) GAO reviews and reports.--Not later than 180 days 
        after the date of enactment of the Renewing Opportunity in the 
        American Dream to Housing Act, and not less frequently than 
        every 8 years thereafter, the Comptroller General of the United 
        States shall--
                    ``(A) conduct and complete a review of the program 
                under this section, which shall include examination and 
                analysis of the implementation of the program and 
                identification of any shortcomings and any means for 
                improving the program; and
                    ``(B) submit to the Congress a report regarding the 
                review, which shall set forth a detailed description of 
                such implementation, any shortcomings of the program 
                identified, and recommendations for improving the 
                program.'';
            (10) in subsection (i)--
                    (A) in the matter preceding paragraph (1), by 
                striking ``section 14 of the United States Housing Act 
                of 1937 for fiscal years 1996, 1997, and 1998'' and 
                inserting ``the Capital Fund under section 9(d) of the 
                United States Housing Act of 1937 in each fiscal 
                year''; and
                    (B) in paragraph (1)--
                            (i) in subparagraph (A), by striking ``the 
                        demonstration'' and inserting ``the program''; 
                        and
                            (ii) in subparagraph (B), by striking ``up 
                        to 10''; and
            (11) by striking subsection (j).
    (b) Treatment of Participating Agencies.--
            (1) Continuation of participation.--This section and the 
        amendments made by this section shall not affect the status of 
        any public housing agency that, as of the date of the enactment 
        of this Act, is participating in the Moving to Work Program 
        under section 204 of the Departments of Veterans Affairs and 
        Housing and Urban Development, and Independent Agencies 
        Appropriations Act, 1996 (42 U.S.C. 1437f note), as such a 
        participating agency.
            (2) Election.--Any public housing agency referred to in 
        paragraph (1) may elect--
                    (A) to continue participation in the Program under 
                section 204 of the Departments of Veterans Affairs and 
                Housing and Urban Development, and Independent Agencies 
                Appropriations Act, 1996 (42 U.S.C. 1437f note) under 
                the terms of the agreement entered into between the 
                agency and the Secretary providing for such 
                participation until the date of the expiration of such 
                agreement; or
                    (B) at any time before date of the expiration of 
                such agreement, to transition to participation under 
                the program under such section 204, as amended by this 
                Act.
            (3) Conversion to reformed program.--
                    (A) In general.--Except as provided in subparagraph 
                (B) of this paragraph, any public housing agency that 
                elects pursuant to paragraph (2)(A) of this subsection 
                to continue participation in the Program under section 
                204 of the Departments of Veterans Affairs and Housing 
                and Urban Development, and Independent Agencies 
                Appropriations Act, 1996 (42 U.S.C. 1437f note) shall, 
                upon the expiration of the agreement referred to in 
                such paragraph, be considered to have been approved for 
                participation in the Program under such section 204, as 
                amended by this Act, and the Secretary of Housing and 
                Urban Development shall provide for the transition of 
                the agency to participation under the Program under 
                such section as so amended.
                    (B) Inapplicability.--Subparagraph (A) shall not 
                apply to any public housing agency that is determined 
                by the Secretary to be in material default, upon the 
                expiration of the agreement referred to in paragraph 
                (2)(A), of the conditions and obligations under such 
                agreement.
            (4) Inapplicability of numerical limitation.--Any public 
        housing agency transitioned pursuant to paragraph (2)(B) or 
        (3)(A) of this subsection to participation under the program 
        under section 204 of the Departments of Veterans Affairs and 
        Housing and Urban Development, and Independent Agencies 
        Appropriations Act, 1996 (42 U.S.C. 1437f note), as amended by 
        this section, shall not count toward fulfillment of the 
        numerical limitation under section 204(d)(3)(A) of the 
        Departments of Veterans Affairs and Housing and Urban 
        Development, and Independent Agencies Appropriations Act, 1996 
        (42 U.S.C. 1437f note), as added by the amendment made by this 
        section.

SEC. 302. IMPROVING SELF-SUFFICIENCY OF FAMILIES IN HUD-SUBSIDIZED 
              HOUSING.

    (a) In General.--
            (1) Study.--Subject to subsection (b), the Secretary of 
        Housing and Urban Development shall conduct a study on the 
        implementation of work requirements by public housing agencies 
        described in paragraph (2) participating in the program under 
        section 204 of the Departments of Veterans Affairs and Housing 
        and Urban Development, and Independent Agencies Appropriations 
        Act, 1996 (42 U.S.C. 1437f note), as amended by section 301 of 
        this Act.
            (2) Public housing agencies described.--The public housing 
        agencies described in this paragraph are public housing 
        agencies that, as part of an application to participate in the 
        program under section 204 of the Departments of Veterans 
        Affairs and Housing and Urban Development, and Independent 
        Agencies Appropriations Act, 1996 (42 U.S.C. 1437f note), as 
        amended by section 301 of this Act, submit a proposal 
        identifying work requirements as an innovative proposal 
        described in section 204(d)(1)(D)(i) of such Act, as amended by 
        section 301 of this Act.
    (b) Determination.--The requirement under subsection (a) shall 
apply if the Secretary of Housing and Urban Development determines 
that--
            (1) there are a sufficient number of public housing 
        agencies described in subsection (a)(2) such that the Secretary 
        of Housing and Urban Development can rigorously evaluate the 
        impact of the implementation of work requirements described in 
        that subsection; and
            (2) the study would not negatively impact low-income 
        families receiving assistance through a public housing agency 
        described in subsection (a)(2).

SEC. 303. UPDATING THE DEFINITION OF MANUFACTURED HOME.

    (a) In General.--Section 603(6) of the National Manufactured 
Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 
5402(6)) is amended by striking ``on a permanent chassis'' and 
inserting ``with or without a permanent chassis''.
    (b) Manufactured Home Certifications.--Section 604 of the National 
Manufactured Housing Construction and Safety Standards Act of 1974 (42 
U.S.C. 5403) is amended by adding at the end the following:
    ``(i) Manufactured Home Certifications.--
            ``(1) In general.--
                    ``(A) Initial certification.--Subject to 
                subparagraph (B), not later than 1 year after the date 
                of enactment of the Renewing Opportunity in the 
                American Dream to Housing Act, a State shall submit to 
                the Secretary an initial certification that the laws 
                and regulations of the State--
                            ``(i) treat a manufactured home, including 
                        a manufactured home without a permanent 
                        chassis, in parity with a manufactured home (as 
                        defined and regulated by the State); and
                            ``(ii) subject a manufactured home without 
                        a permanent chassis to the same laws and 
                        regulations of the State as a manufactured home 
                        built on a permanent chassis with respect to 
                        financing, title, insurance, manufacture, sale, 
                        taxes, transportation, and installation.
                    ``(B) Extended deadline.--With respect to a State 
                with a legislature that meets biennially, the deadline 
                for the submission of the initial certification 
                required under subparagraph (A) shall be 2 years after 
                the date of enactment of the Renewing Opportunity in 
                the American Dream to Housing Act.
            ``(2) Form of certification.--The initial certification 
        required under paragraph (1)(A) shall contain, in a form 
        prescribed by the Secretary, an attestation by an official that 
        the State has taken the steps necessary to ensure the veracity 
        of the certification required under paragraph (1)(A), 
        including, as necessary, by--
                    ``(A) amending the definition of `manufactured 
                home' in the laws and regulation of the State; and
                    ``(B) directing State agencies to amend the 
                definition of `manufactured home' in regulations.
            ``(3) Annual recertification.--Not later than a date to be 
        determined by the Secretary each year, the State shall submit 
        to the Secretary an additional certification that--
                    ``(A) confirms the accuracy of initial 
                certification submitted under paragraph (1)(A); and
                    ``(B) certifies that any new laws or regulations 
                enacted or adopted by the State since the date of the 
                previous certification does not change the veracity of 
                the initial certification submitted under paragraph 
                (1)(A).
            ``(4) List.--The Secretary shall publish and maintain in 
        the Federal Register and on the website of the Department of 
        Housing and Urban Development a list of States that are up-to-
        date with the submission of initial and subsequent 
        certifications required under this subsection.
            ``(5) Prohibition.--
                    ``(A) Definition.--In this paragraph the term 
                `covered manufactured home' means a home that is--
                            ``(i) not considered a manufactured home 
                        under the laws and regulations of a State 
                        because the home is constructed without a 
                        permanent chassis;
                            ``(ii) considered a manufactured home under 
                        the definition of the term in section 603; and
                            ``(iii) constructed after the date of 
                        enactment of the Renewing Opportunity in the 
                        American Dream to Housing Act.
                    ``(B) Building, installation, and sale.--
                            ``(i) In general.--If a State does not 
                        submit a certification under paragraph (1)(A) 
                        or (3) by the date on which those 
                        certifications are required to be submitted--
                                    ``(I) with respect to a State in 
                                which the State administers the 
                                installation of manufactured homes, the 
                                State shall prohibit the manufacture, 
                                installation, or sale of a covered 
                                manufactured home within the State; and
                                    ``(II) with respect to a State in 
                                which the Secretary administers the 
                                installation of manufactured homes, the 
                                State and the Secretary shall prohibit 
                                the manufacture, installation, or sale 
                                of a covered manufactured home within 
                                the State.''.
    (c) Other Federal Laws Regulating Manufactured Homes.--The 
Secretary of Housing and Urban Development shall coordinate with the 
heads of other Federal agencies to ensure that Federal agencies treat a 
manufactured home (as defined in Federal laws and regulations other 
than section 603 of the National Manufactured Housing Construction and 
Safety Standards Act of 1974 (42 U.S.C. 5402)) in the same manner as a 
manufactured home (as defined in section National Manufactured Housing 
Construction and Safety Standards Act of 1974 (42 U.S.C. 5402), as 
amended by this Act).
    (d) Assistance to States.--Section 609 of the National Manufactured 
Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5408) 
is amended--
            (1) in paragraph (1), by striking ``and'' at the end;
            (2) in paragraph (2), by striking the period at the end and 
        inserting ``; and''; and
            (3) by adding at the end the following:
            ``(3) model guidance to support the submission of the 
        certification required under section 604(i).''.

                 TITLE IV--SERVING THE MOST VULNERABLE

SEC. 401. INCENTIVIZING LOCAL SOLUTIONS TO HOMELESSNESS.

    (a) Continuum of Care Program.--Section 428 of the McKinney-Vento 
Homeless Assistance Act (42 U.S.C. 11386b) is amended by adding at the 
end the following:
    ``(f) Incentives for Reducing Homelessness.--
            ``(1) In general.--From the amounts made available to carry 
        out this subtitle for a fiscal year, the Secretary may use not 
        more than 10 percent of the amounts made available to carry out 
        this subtitle for incentives described in paragraph (2).
            ``(2) Incentives.--The Secretary may provide bonuses or 
        other incentives to a geographic area under this subtitle if, 
        during a fiscal year, the Secretary determines that an entity 
        receiving funds under this subtitle has demonstrably and 
        measurably improved housing outcomes for homeless individuals 
        in the geographic area.''.
    (b) Emergency Solutions Grants Program.--Section 413 of the 
McKinney-Vento Homeless Assistance Act (42 U.S.C. 11372a) is amended by 
adding at the end the following:
    ``(c) Incentives for Reducing Homelessness.--
            ``(1) In general.--From the amounts made available to carry 
        out this subtitle for a fiscal year, the Secretary may use not 
        more than 10 percent of the amounts made available to carry out 
        this subtitle for incentives described in paragraph (2).
            ``(2) Incentives.--The Secretary may provide bonuses or 
        other incentives to a geographic area under this subtitle if, 
        during a fiscal year, the Secretary determines that an entity 
        receiving funds under this subtitle has demonstrably and 
        measurably improved housing outcomes for homeless individuals 
        in the geographic area.''.

                     TITLE V--PROMOTING OPPORTUNITY

SEC. 501. INCREASING HOUSING IN OPPORTUNITY ZONES.

    (a) Covered Grant Defined.--In this section, the term ``covered 
grant'' means--
            (1) a Choice Neighborhoods Program grant;
            (2) a grant under section 11 of the Housing Opportunity 
        Program Extension Act of 1996 (42 U.S.C. 12805 note); and
            (3) any other competitive grant relating to the 
        construction, modification, rehabilitation, or preservation of 
        housing, as determined by the Secretary of Housing and Urban 
        Development.
    (b) Priority.--The Secretary of Housing and Urban Development shall 
prioritize the award of covered grants to recipients located in, or 
that primarily serve, a community that has been designated as a 
qualified opportunity zone under section 1400Z-1 of the Internal 
Revenue Code of 1986.

                       TITLE VI--GOOD GOVERNANCE

SEC. 601. REQUIRING ANNUAL TESTIMONY AND OVERSIGHT FROM HOUSING 
              REGULATORS.

    (a) HUD Programs.--The Department of Housing and Urban Development 
Act (42 U.S.C. 3531 et seq.) is amended by adding at the end the 
following:

``SEC. 15. ANNUAL TESTIMONY.

    ``The Secretary shall, on an annual basis, testify before the 
Committee on Banking, Housing, and Urban Affairs of the Senate and the 
Committee on Financial Services of the House of Representatives on the 
status of all programs carried out by the Department, whether 
authorized or unauthorized.''.
    (b) Government Guaranteed or Insured Mortgages.--On an annual 
basis, the following individuals shall testify before the appropriate 
committees of Congress with respect to mortgage loans made, guaranteed, 
or insured by the Federal Government:
            (1) The President of the Government National Mortgage 
        Association.
            (2) The Federal Housing Commissioner.
            (3) The Administrator of the Rural Housing Service.
            (4) The Executive Director of the Loan Guaranty Service of 
        the Department of Veterans Affairs.
    (c) Mortgagee Review Board.--Section 202(c)(8) of the National 
Housing Act (12 U.S.C. 1708(c)(8)) is amended--
            (1) by striking ``, in consultation with the Federal 
        Housing Administration Advisory Board,''; and
            (2) by inserting ``and to Congress'' after ``the 
        Secretary''.

SEC. 602. FHA REPORTING REQUIREMENTS ON SAFETY AND SOUNDNESS.

    (a) Monthly Reporting on Mutual Mortgage Insurance Fund Capital 
Ratio.--Section 202(a) of the National Housing Act (12 U.S.C. 1708(a)) 
is amended by adding at the end the following:
            ``(8) Other required reporting.--The Secretary shall--
                    ``(A) submit to Congress monthly reports on the 
                capital ratio required under section 205(f)(2); and
                    ``(B) notify Congress as soon as practicable after 
                the Fund falls below the capital ratio required under 
                section 205(f)(2).''.
    (b) Annual Independent Actuarial Study.--Section 202(a)(4) of the 
National Housing Act (12 U.S.C. 1708(a)(4)) is amended--
            (1) by striking ``The Secretary'' and inserting the 
        following:
                    ``(A) Definition.--In this paragraph, the term 
                `first-time homebuyer' means a borrower for whom no 
                consumer report (as defined in section 603 of the Fair 
                Credit Reporting Act (15 U.S.C. 1681a)) indicates that 
                the borrower has or had a loan with a consumer purpose 
                that is secured by a 1- to 4-unit residential real 
                property.
                    ``(B) Study and report.--The Secretary''; and
            (2) in subparagraph (B), as so designated, by striking 
        ``also'' and inserting ``detail how many loans were originated 
        in each census tract to first-time homebuyers, as well as''.
    (c) Annual Report.--Section 203(w)(2) of the National Housing Act 
(12 U.S.C. 1709(w))(2) is amended by inserting ``and first-time 
homebuyers (as defined in section 202(a)(4)(A))'' after ``minority 
borrowers''.
    (d) GAO Study on Sustainable Homeownership.--Not later than 180 
days after the date of enactment of this Act, the Comptroller General 
of the United States shall conduct a study and submit to Congress a 
report on--
            (1) the value for the Federal Housing Administration of 
        defining what is sustainable homeownership in way that 
        considers borrower default, refinancing to a non-insured 
        mortgage product, paying off a mortgage loan and transitioning 
        back to renting, and other factors that demonstrate whether 
        insurance provided under title II of the National Housing Act 
        (12 U.S.C. 1707 et seq.) has successfully served a borrower, 
        including for first-time homebuyers (as defined in section 
        202(a)(4)(A) of the National Housing Act, as added by 
        subsection (b)(1)); and
            (2) the feasibility of the Federal Housing Administration 
        developing a scorecard using the metrics described in paragraph 
        (1) to measure borrower performance and reporting the scorecard 
        data to Congress.

SEC. 603. UNITED STATES INTERAGENCY COUNCIL ON HOMELESSNESS.

    Section 203(a) of the McKinney-Vento Homeless Assistance Act (42 
U.S.C. 11313(a)) is amended--
            (1) in paragraph (1)--
                    (A) by striking ``Homeless Emergency Assistance and 
                Rapid Transition to Housing Act of 2009'' and inserting 
                ``Renewing Opportunity in the American Dream to Housing 
                Act''; and
                    (B) by striking ``update such plan annually'' and 
                inserting the following: ``submit to the President and 
                Congress a report every year thereafter that includes--
                    ``(A) the status of completion of the plan;
                    ``(B) any modifications that were made to the plan 
                and the reasons for those modifications; and
                    ``(C) an estimate of when homelessness will be 
                ended;'';
            (2) by redesignating paragraphs (10) through (13) as 
        paragraphs (11) through (14), respectively;
            (3) by redesignating the second paragraph (9) (relating to 
        collecting and disseminating information) as paragraph (10);
            (4) in paragraph (13), as so redesignated, by striking 
        ``and'' at the end;
            (5) in paragraph (14), as so redesignated, by striking the 
        period at the end and inserting ``; and''; and
            (6) by adding at the end the following:
            ``(15) testify annually before Congress.''.

SEC. 604. NEIGHBORHOOD REINVESTMENT CORPORATION OVERSIGHT.

    (a) Inspector General.--The Neighborhood Reinvestment Corporation 
Act (42 U.S.C. 8101 et seq.) is amended by adding at the end the 
following:

``SEC. 609. OVERSIGHT BY THE INSPECTOR GENERAL OF THE DEPARTMENT OF 
              HOUSING AND URBAN DEVELOPMENT.

    ``The Inspector General of the Department of Housing and Urban 
Development shall have all of the authorities and responsibilities 
provided under chapter 4 of title 5, United States Code, with respect 
to the corporation, as if the corporation were part of the Department 
of Housing and Urban Development.''.
    (b) Whistleblower Protections.--Section 9101(3) of title 31, United 
States Code, is amended by adding at the end the following:
                    ``(Q) the Neighborhood Reinvestment Corporation.''.
                                 <all>