[Congressional Record Volume 168, Number 133 (Saturday, August 6, 2022)]
[Senate]
[Pages S4297-S4298]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 5297. Mr. MERKLEY (for himself and Mr. Sanders) submitted an 
amendment intended to be proposed to amendment SA 5194 proposed by Mr. 
Schumer to the bill H.R. 5376, to provide for reconciliation pursuant 
to title II of S. Con. Res. 14; which was ordered to lie on the table; 
as follows:

        At the appropriate place, insert the following:

     SEC. ___. FUNDING FOR HOUSING.

       (a) Capital Fund.--In addition to amounts otherwise 
     available for such purposes, there are appropriated to the 
     Capital Fund established under section 9(d) of the United 
     States Housing Act of 1937 (42 U.S.C. 1437g(d)), out of 
     amounts in the Treasury not otherwise appropriated, 
     $10,000,000,000, to remain available until September 30, 
     2031, which shall be--
       (1) distributed under the same formula by which amounts in 
     that Fund were distributed during fiscal year 2021; and
       (2) made available not later than 60 days after the date of 
     the enactment of this Act.
       (b) Repair, Replacement, Construction.--In addition to 
     amounts otherwise available for such purposes, there are 
     appropriated to the Secretary of Housing and Urban 
     Development, out of amounts in the Treasury not otherwise 
     appropriated, $53,000,000,000, to remain available until 
     September 30, 2026, to carry out capital and management 
     activities under section 9(d)(1) of the United States Housing 
     Act of 1937 (42 U.S.C. 1437g(d)(1)) for priority investments 
     determined by the Secretary of Housing and Urban Development 
     to repair, replace, or construct properties assisted under 
     such section 9.
       (c) HOME Investment Partnership.--
       (1) In general.--In addition to amounts otherwise available 
     for such purposes, there are appropriated to the Secretary of 
     Housing and Urban Development, out of amounts in the Treasury 
     not otherwise appropriated--
       (A) $10,000,000,000, to remain available until September 
     30, 2026, for activities and assistance for the HOME 
     Investment Partnerships Program, as authorized under sections 
     241 through 242, 244 through 253, 255 through 256, and 281 
     through 290 of the Cranston-Gonzalez National Affordable 
     Housing Act (42 U.S.C. 12741-12742, 42 U.S.C. 12744-12753, 42 
     U.S.C. 12755-12756, 42 U.S.C. 12831-12840) (in this 
     subsection referred to as ``NAHA''), subject to the terms and 
     conditions in paragraph (2)(A); and
       (B) $45,000,000,000, to remain available until September 
     30, 2026, for activities and assistance for the HOME 
     Investment Partnerships Program, as authorized under sections 
     241 through 242, 244 through 253, 255 through 256, and 281 
     through 290 of NAHA (42 U.S.C. 12741-12742, 42 U.S.C. 12744-
     12753, 42 U.S.C. 12755-12756, 42 U.S.C. 12831-12840), subject 
     to the terms and conditions in paragraphs (2)(B) and (3).
       (2) Formula.--(A) The Secretary shall allocate amounts made 
     available under paragraph (1)(A) pursuant to section 217 of 
     NAHA (42 U.S.C. 12747) to grantees that received allocations 
     pursuant to that same formula in fiscal year 2021, and shall 
     make such allocations within 60 days of the date of enactment 
     of this Act.
       (B) The Secretary shall allocate amounts made available 
     under paragraph (1)(B) pursuant to the formula specified in 
     section 1338(c)(3) of the Federal Housing Enterprises 
     Financial Safety and Soundness Act of 1992 (12 U.S.C. 
     4568(c)(3)) to grantees that received Housing Trust Fund 
     allocations pursuant to that same formula in fiscal year 
     2021, and shall make such allocations within 60 days of the 
     date of enactment of this Act.
       (3) Eligible activities.--Other than as provided in 
     paragraph (4), funds made available under paragraph (1)(B) 
     may only be used for eligible activities described in 
     subparagraphs (A) through (B)(i) of section 1338(c)(7) of the 
     Federal Housing Enterprises Financial Safety and Soundness 
     Act of 1992 (12 U.S.C. 4568(c)(7)), except that not more than 
     10 percent of funds made available may be used for activities 
     under such subparagraph (B)(i).
       (4) Funding restrictions.--The commitment requirements in 
     section 218(g) of NAHA (42 U.S.C. 12748(g)), the matching 
     requirements in section 220 of NAHA (42 U.S.C. 12750), and 
     the set aside for housing developed, sponsored, or owned by 
     community housing development organizations required under 
     section 231 of NAHA (42 U.S.C. 12771) shall not apply for 
     amounts made available under this section.
       (5) Reallocation.--For funds provided under subparagraphs 
     (A) and (B) of paragraph (1), the Secretary may recapture 
     certain amounts remaining available to a grantee under this 
     section or amounts declined by a grantee, and reallocate such 
     amounts to other grantees under that paragraph to ensure fund 
     expenditure, geographic diversity, and availability of 
     funding to communities within the State from which the funds 
     have been recaptured.
       (6) Administration.--Notwithstanding subsections (c) and 
     (d)(1) of section 212 of NAHA (42 U.S.C. 12742), grantees may 
     use not more than 15 percent of their allocations under this 
     section for administrative and planning costs.
       (7) Waivers.--The Secretary may waive or specify 
     alternative requirements for any provision of NAHA specified 
     in subparagraph (A) or (B) of paragraph (1) or regulation for 
     the administration of the amounts made available under this 
     section, other than requirements related to tenant rights and 
     protections, fair housing, nondiscrimination, labor 
     standards, and the environment, upon a finding that the 
     waiver or alternative requirement is necessary to facilitate 
     the use of amounts made available under this section.
       (8) Implementation.--The Secretary shall have authority to 
     issue such regulations, notices, or other guidance, forms, 
     instructions, and publications to carry out the programs, 
     projects, or activities authorized under this section to 
     ensure that such programs, projects, or activities are 
     completed in a timely and effective manner.
       (d) Rental Assistance for Extremely Low-income Families.--
     In addition to amounts otherwise available for such purposes, 
     there are appropriated to the Secretary of Housing and Urban 
     Development, out of amounts in the Treasury not otherwise 
     appropriated, $15,000,000,000, to remain available until 
     September 30, 2029, for--
       (1) incremental tenant-based rental assistance for 
     extremely low-income families under section 8(o) of the 
     United States Housing Act of 1937 (42 U.S.C. 1437f(o));
       (2) renewals of the tenant-based rental assistance 
     described in paragraph (1); and
       (3) fees for the costs of administering the tenant-based 
     rental assistance described in paragraph (1) and other 
     expenses relating to the use of that assistance.
       (e) Rental Assistance for Households Experiencing or at 
     Risk of Homelessness.--In addition to amounts otherwise 
     available for such purposes, there are appropriated to the 
     Secretary of Housing and Urban Development, out of amounts in 
     the Treasury not otherwise appropriated,

[[Page S4298]]

     $7,000,000,000, to remain available until September 30, 2029, 
     for--
       (1) incremental tenant-based rental assistance under 
     section 8(o) of the United States Housing Act of 1937 (42 
     U.S.C. 1437f(o)) for--
       (A) households experiencing or at risk of homelessness;
       (B) survivors of domestic violence, dating violence, sexual 
     assault, and stalking; and
       (C) survivors of trafficking;
       (2) renewals of the tenant-based rental assistance 
     described in paragraph (1); and
       (3) fees for the costs of administering the tenant-based 
     rental assistance described in paragraph (1) and other 
     expenses relating to the use of that assistance.

     SEC. ___. COMMUNITY RESTORATION AND REVITALIZATION FUND.

       (a) Appropriation.--In addition to amounts otherwise 
     available, there are appropriated to the Community 
     Restoration and Revitalization Fund established under 
     subsection (b) for fiscal year 2022, out of any money in the 
     Treasury not otherwise appropriated, $1,000,000,000, to 
     remain available until September 30, 2031, for the award of 
     grants to eligible recipients to create, expand, and maintain 
     community land trusts and shared equity homeownership through 
     the acquisition, rehabilitation, and new construction of 
     affordable, accessible housing.
       (b) Establishment of Fund.--The Secretary of Housing and 
     Urban Development (in this section referred to as the 
     ``Secretary'') shall establish a Community Restoration and 
     Revitalization Fund (in this section referred to as the 
     ``Fund'') to award planning and implementation grants on a 
     competitive basis to eligible recipients for activities 
     authorized under subsections (a) through (g) of section 105 
     of the Housing and Community Development Act of 1974 (42 
     U.S.C. 5305) and under this section for community-led 
     affordable housing and civic infrastructure projects.
       (c) Eligible Geographical Areas, Recipients, and 
     Applicants.--
       (1) Geographical areas.--The Secretary shall award grants 
     from the Fund to eligible recipients within geographical 
     areas at the neighborhood, county, or census tract level and 
     census tracts adjacent to the project area that are areas in 
     need of investment, as demonstrated by two or more of the 
     following factors:
       (A) High and persistent rates of poverty.
       (B) Population at risk of displacement due to rising 
     housing costs.
       (C) Dwelling unit sales prices that are lower than the cost 
     to acquire and rehabilitate, or build, a new dwelling unit.
       (D) High proportions of residential and commercial 
     properties that are vacant due to foreclosure, eviction, 
     abandonment, or other causes.
       (E) Low rates of homeownership by race and ethnicity, 
     relative to the national homeownership rate.
       (F) Served by a local, regional, or Statewide lead 
     applicant or joint applicant described in subsection (d) with 
     a demonstrated commitment to, and experience with, long-term 
     affordability through a community land trust or shared equity 
     homeownership program.
       (2) Eligible recipient.--An eligible recipient of a grant 
     under this section shall be a local partnership of a lead 
     applicant and one or more joint applicants with the ability 
     to administer the grant.
       (d) Eligible Recipients and Applicants.--
       (1) Lead applicant.--An eligible lead applicant for a grant 
     awarded under this section shall be an entity that is located 
     within or serves the geographic area of the project, or 
     derives its mission and operational priorities from the needs 
     of the geographic area of the project, demonstrates a 
     commitment to anti-displacement efforts, and that is--
       (A) a nonprofit organization that has expertise in 
     community planning, engagement, organizing, housing and 
     community development;
       (B) a community development corporation;
       (C) a community housing development organization;
       (D) a community-based development organization; or
       (E) a community development financial institution, as 
     defined in section 103 of the Riegle Community Development 
     and Regulatory Improvement Act of 1994 (12 U.S.C. 4702).
       (2) Joint applicants.--A joint applicant shall be an entity 
     eligible to be a lead applicant in paragraph (1), or a local, 
     regional, or national--
       (A) nonprofit organization;
       (B) community development financial institution;
       (C) unit of general local government;
       (D) Indian Tribe;
       (E) State housing finance agency;
       (F) land bank;
       (G) fair housing enforcement organization, as defined in 
     section 561 of the Housing and Community Development Act of 
     1987 (42 U.S.C. 3616a);
       (H) public housing agency;
       (I) tribally designated housing entity; or
       (J) philanthropic organization.
       (3) Lack of local entity.--A regional, State, or national 
     nonprofit organization may serve as a lead entity if there is 
     no local entity that meets the geographic requirements in 
     paragraph (1).
       (e) Community Land Trust Grants and Shared Equity 
     Homeownership Grants.--An eligible recipient of a community 
     land trust grant awarded under this section may use the 
     grant--
       (1) for activities to support the production, acquisition, 
     and rehabilitation of housing for use in a community land 
     trust or shared equity homeownership program; and
       (2) to expand the capacity of the recipient to carry out 
     the grant.
       (f) Definitions.--For purposes of this section, the 
     following definitions shall apply:
       (1) Community land trust.--The term ``community land trust' 
     '' means a nonprofit organization or State or local 
     governments or instrumentalities that--
       (A) use a ground lease or deed covenant with an 
     affordability period of at least 30 years or more to--
       (i) make rental and homeownership units affordable to 
     households; and
       (ii) stipulate a preemptive option to purchase the 
     affordable rentals or homeownership units so that the 
     affordability of the units is preserved for successive 
     income-eligible households; and
       (B) monitor properties to ensure affordability is 
     preserved.
       (2) Shared equity homeownership program.--The term ``shared 
     equity homeownership program'' means a program to facilitate 
     affordable homeownership preservation through a resale 
     restriction program administered by a community land trust, 
     other nonprofit organization, or State or local government or 
     instrumentalities and that utilizes a ground lease, deed 
     restriction, subordinate loan, or similar mechanism with 
     provisions ensuring that the program shall--
       (A) maintain the home as affordable for subsequent very 
     low-, low-, or moderate-income families for an affordability 
     term of at least 30 years after recordation;
       (B) apply a resale formula that limits the homeowner's 
     proceeds upon resale; and
       (C) provide the program administrator or such 
     administrator's assignee a preemptive option to purchase the 
     homeownership unit from the homeowner at resale.
       (g) Implementation.--The Secretary shall have authority to 
     issue such regulations, notices, or other guidance, forms, 
     instructions, and publications to carry out the programs, 
     projects, or activities authorized under this section to 
     ensure that such programs, projects, or activities are 
     completed in a timely and effective manner.
                                 ______