[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 10053 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                               H. R. 10053

 To authorize the Secretary of Housing and Urban Development to issue 
       loans to certain public employees, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 6, 2026

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

_______________________________________________________________________

                                 A BILL


 
 To authorize the Secretary of Housing and Urban Development to issue 
       loans to certain public employees, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Public Service Homeownership 
Assistance Act''.

SEC. 2. DOWNPAYMENT ASSISTANCE PROGRAM FOR CERTAIN PUBLIC EMPLOYEES.

    (a) In General.--Beginning January 1, 2027, the Secretary of 
Housing and Urban Development may, subject to appropriations made 
available to carry out this section, issue to covered public employees 
loans that are secured by an eligible property purchased by such 
employee.
    (b) Subordinate Lien.--The lien held by the Secretary against an 
eligible property as part of a loan under this section shall be 
subordinate to any first mortgage against such property.
    (c) Loan Amount.--A loan issued to a covered public employee under 
this section may not be in an amount that is--
            (1) less than $10,000; or
            (2) more than $20,000.
    (d) Use of Amounts.--A covered public employee who receives a loan 
under this section may only use loan amounts for the payment of a 
downpayment, or any closing costs, with respect to the purchase of an 
eligible property by such employee.
    (e) Requirement.--A covered public employee that receives a loan 
under this section shall occupy the eligible property that secures such 
loan not later than 60 days after the date of the issuance of such 
loan.
    (f) Loan Repayment.--A covered public employee who receives a loan 
under this section shall begin repayment of such loan, amortized over 
10 years, upon the earliest of the following:
            (1) The date on which such employee sells or transfers to 
        another person the eligible property that secures such loan.
            (2) January 1 of any year following a year during which 
        such employee did not occupy the eligible property that secures 
        such loan for at least 182 calendar days.
            (3) The date of the closing of a cash out refinance 
        initiated by such employee with respect to the eligible 
        property that secures such loan.
    (g) Rule of Construction.--Nothing in this section may be construed 
to prohibit a covered public employee from using any other source of 
Federal or State assistance, including any other loan program, in 
conjunction with a loan issued under this section.
    (h) Definitions.--In this section:
            (1) Cash out refinance.--The term ``cash out refinance'' 
        means a financial transaction in which a covered public 
        employee--
                    (A) refinances the first mortgage against an 
                eligible property; and
                    (B) receives an excess balance in cash as a result 
                of the new mortgage resulting from such refinancing.
            (2) Closing cost.--The term ``closing cost'' means any fee, 
        charge, or prepaid item required to originate, process, or 
        complete a mortgage or real estate settlement with respect to 
        an eligible property, exclusive of the purchase price of the 
        eligible property.
            (3) Covered public employee.--The term ``covered public 
        employee'' means an individual who is employed by an agency or 
        department of Federal, State, Tribal, or local government.
            (4) Eligible property.--The term ``eligible property'' 
        means a residential property that--
                    (A) consists of 1 to 4 dwelling units;
                    (B) meets any standards required by the Secretary;
                    (C) is located in the United States or a territory 
                thereof; and
                    (D) will be occupied by the covered public employee 
                for not less than 182 days each calendar year.
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