[Congressional Record Volume 172, Number 105 (Tuesday, June 23, 2026)]
[House]
[Pages H4151-H4192]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
HOUSING FOR THE 21ST CENTURY ACT
Mr. HILL of Arkansas. Mr. Speaker, I move to suspend the rules and
concur in the Senate amendment to the House amendment to the Senate
amendment to the bill (H.R. 6644) a bill to increase the supply of
housing in America, and for other purposes.
The Clerk read the title of the bill.
The text of the Senate amendment to the House amendment to the Senate
amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``21st
Century 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--OPPORTUNITIES FOR HOUSING
Sec. 101. Reforms to housing counseling and financial literacy
programs.
Sec. 102. Federal guidelines for point-access block buildings.
Sec. 103. Exemption on construction or modification of residential
housing located on an infill site.
Sec. 104. Database of publicly owned land.
Sec. 105. FHA Small-Dollar Mortgages.
Sec. 106. Temperature Sensor Pilot Program.
Sec. 107. Housing supply frameworks.
TITLE II--BUILDING MORE IN AMERICA
Sec. 201. Increasing housing in opportunity zones.
Sec. 202. Whole-Home Repairs Act.
Sec. 203. Community Investment and Prosperity Act.
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Sec. 204. Addition of affordable housing construction as an eligible
activity.
Sec. 205. Better Use of Intergovernmental and Local Development (BUILD)
Housing Act.
Sec. 206. Unlocking Housing Supply Through Streamlined and Modernized
Reviews Act.
Sec. 207. Grants for planning and implementation associated with
affordable housing.
Sec. 208. Innovation Fund.
Sec. 209. Accelerating Home Building Act.
Sec. 210. Revitalizing Empty Structures Into Desirable Environments
(RESIDE) Act.
Sec. 211. Housing Affordability Act.
Sec. 212. Rental Assistance Demonstration Program.
Sec. 213. Build Now Act.
TITLE III--MANUFACTURED HOUSING FOR AMERICA
Sec. 301. Housing Supply Expansion Act.
Sec. 302. Modular Housing Production Act.
Sec. 303. Property Improvement and Manufactured Housing Loan
Modernization Act.
Sec. 304. PRICE Act.
TITLE IV--ACCESSING THE AMERICAN DREAM
Sec. 401. Creating incentives for small-dollar loan originators.
Sec. 402. Small-dollar mortgage points and fees.
Sec. 403. Appraisal Industry Improvement Act.
Sec. 404. Helping More Families Save Act.
Sec. 405. Choice in Affordable Housing Act.
TITLE V--PROGRAM REFORM
Sec. 501. HOME Investment Partnerships Reauthorization and Reform Act.
Sec. 502. Rural Housing Service Reform Act.
Sec. 503. Incentivizing local solutions to homelessness.
Sec. 504. Reforming Disaster Recovery Act.
Sec. 505. New Moving to Work cohort.
TITLE VI--VETERANS AND HOUSING
Sec. 601. Military Service Question.
Sec. 602. Housing Unhoused Disabled Veterans Act.
Sec. 603. Veterans Affairs Loan Informed Disclosure (VALID) Act.
TITLE VII--OVERSIGHT AND ACCOUNTABILITY
Sec. 701. Requiring annual testimony and oversight from housing
regulators.
Sec. 702. FHA reporting requirements on safety and soundness.
Sec. 703. United States Interagency Council on Homelessness oversight.
Sec. 704. Appraisal Modernization Act.
TITLE VIII--ACCOUNTABILITY, COORDINATION, STUDIES, AND REPORTING
Sec. 801. HUD-USDA-VA Interagency Coordination Act.
Sec. 802. Streamlining Rural Housing Act.
Sec. 803. Improving self-sufficiency of families in HUD-subsidized
housing.
Sec. 804. GAO studies.
Sec. 805. Improving public housing agency accountability.
TITLE IX--STRENGTHENING COMMUNITY BANKS' ROLE IN HOUSING
Sec. 901. Community bank deposit access.
Sec. 902. Keeping deposits local.
Sec. 903. Tailored regulatory updates for supervisory testing.
Sec. 904. Credit union board modernization.
Sec. 905. Systemic risk authority transparency.
Sec. 906. Advancing the mentor-protege program for small financial
institutions.
Sec. 907. American access to banking.
Sec. 908. Promoting new bank formation.
Sec. 909. Rural depositories revitalization study.
TITLE X--HOME-OWNERSHIP FOR MAIN STREET AMERICA
Sec. 1001. Homes are for people, not corporations.
TITLE XI--CENTRAL BANK DIGITAL CURRENCY
Sec. 1101. Central bank digital currency.
TITLE XII--MISCELLANEOUS
Sec. 1201. Severability.
Sec. 1202. No additional funds authorized.
TITLE I--OPPORTUNITIES FOR HOUSING
SEC. 101. REFORMS TO HOUSING COUNSELING AND FINANCIAL
LITERACY PROGRAMS.
Section 106 of the Housing and Urban Development Act of
1968 (12 U.S.C. 1701x) is amended--
(1) in subsection (a)(4)(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'';
(2) in subsection (e), by adding at the end the following:
``(6) Reviews.--The Secretary--
``(A) may conduct periodic reviews; and
``(B) shall conduct performance reviews of all
organizations receiving assistance under this section that--
``(i) consist of a review of the organization's compliance
with all program requirements; and
``(ii) may take into account the organization's aggregate
counselor performance under paragraph (7)(B).
``(7) 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
housing cooperatives) designed principally for the occupancy
of between 1 and 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 for
prepurchase housing counseling, the Secretary may consider
the performance 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.
``(8) Certification.--If, based on the comparison required
under paragraph (7)(B), the Secretary determines that a
counselor lacks competence to provide counseling in the areas
described in subsection (e)(2) and such action will not
create a significant loss of capacity for housing counseling
services in the service area, the Secretary may--
``(A) require continued education coupled with successful
completion of a probationary period;
``(B) require retesting if the counselor continues to
demonstrate a lack of competence under paragraph (7)(B); and
``(C) suspend an individual certification if a counselor
fails to demonstrate competence after not fewer than 2
retesting opportunities under subparagraph (B).'';
(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 renewal of
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 counseling, is not in
compliance with program requirements--
``(i) based on the performance review described in
subsection (e)(6); and
``(ii) in accordance with regulations issued by the
Secretary.
``(B) Notice.--The Secretary shall give an organization or
entity receiving covered assistance not less than 60 days
prior written notice of any denial of renewal under this
paragraph, and the determination of renewal shall not be
finalized until the end of that notice period.
``(C) Informal conference.--If requested in writing by the
organization or entity within the notice period described in
subparagraph (B), the organization or entity shall be
entitled to an informal conference with the Deputy Assistant
Secretary of Housing Counseling on behalf of the Secretary 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 failure to comply with program
requirements, such as a lack of lender or servicer
coordination or communication with housing counseling
agencies and individual counselors.''; and
(4) by adding at the end the following:
``(j) 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
housing cooperatives) or stock or membership in a cooperative
ownership housing corporation designed principally for the
occupancy of between 1 and 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 30 days or more delinquent
on payments for the covered mortgage loan shall be given an
opportunity to participate in available housing counseling.
``(3) Cost.--If the requirements of sections 202(a)(3) and
205(f) of the National Housing Act (12 U.S.C. 1708(a)(3),
1711(f)) are met, the fair market rate 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)).''.
SEC. 102. FEDERAL GUIDELINES FOR POINT-ACCESS BLOCK
BUILDINGS.
(a) In General.--Not later than 18 months after the date of
enactment of this section, the Secretary of Housing and Urban
Development shall issue guidelines to provide States,
territories, Tribes, and localities with model code language,
best practices, and technical guidance that could be used to
facilitate the permitting of point-access block residential
buildings.
(b) Contents.--When developing the guidelines under
subsection (a), the Secretary of Housing and Urban
Development shall consider--
(1) fire safety considerations, including sprinkler
coverage, smoke detection, ventilation, and building egress
performance;
(2) construction costs and potential impacts on housing
affordability, including the potential for increasing housing
supply in high-cost jurisdictions;
[[Page H4153]]
(3) flexibility for diverse consumer needs, including
family sizes, unit configurations, and accessibility;
(4) examples of single-stair codes adopted or considered by
States and cities in the United States;
(5) examples of single-stair codes used in relevant
international standards;
(6) research and model language relating to single-stair
codes produced by organizations that focus on point-access
block building design and building-code reform;
(7) consulting with experts, including developers,
architects, fire marshals, researchers, economists, housing
authorities, and officials in States that have enacted or
piloted single-stair codes; and
(8) alternative methods of safety compliance, including
options that utilize additional passive or active safety
features.
(c) Coordination With the International Code Council.--The
Secretary of Housing and Urban Development shall coordinate
with the International Code Council to encourage the
International Code Council to incorporate provisions about
point-access block buildings into the International Building
Code.
(d) Grants.--
(1) In general.--The Secretary of Housing and Urban
Development may establish a program to award competitive
grants to eligible entities to implement pilot projects that
evaluate, demonstrate, or validate the safety, feasibility,
or cost-effectiveness of point-access block residential
buildings.
(2) Sunset.--The program established under paragraph (1)
shall terminate on the date that is 7 years after the date of
enactment of this subsection.
(e) Treatment of Projects.--Projects assisted under this
section shall be treated as projects assisted under the
Community Development Block Grant program under title I of
the Housing and Community Development Act of 1974 (42 U.S.C.
5301 et seq.).
(f) Rule of Construction.--Nothing in this section may be
construed to preempt a State or local building code.
(g) Definitions.--In this section:
(1) Eligible entity.--The term ``eligible entity'' means a
State, unit of local government, Tribal Government, public
housing agency, nonprofit housing organization, community
development organization, private developer, construction
firm, qualified design firm, engineering firm, academic
institution, research institution, or any partnership or
consortium comprised of 2 or more such types of entities.
(2) Point-access block building.--The term ``point-access
block building'' means a Group R-2 occupancy residential
structure, as such term is defined by the International
Building Code, in which a single internal stairway provides
access and egress for all dwelling units in a building that
is not greater than 6 stories in height.
SEC. 103. EXEMPTION ON CONSTRUCTION OR MODIFICATION OF
RESIDENTIAL HOUSING LOCATED ON AN INFILL SITE.
(a) Exemption.--In providing assistance under section 501,
502, 504, 515, 533, or 538 of the Housing Act of 1949 (42
U.S.C. 1471, 1472, 1474, 1485, 1490m, or 1490p-2) for the
construction or modification of residential housing located
on an infill site, the Secretary of Agriculture shall not be
required to carry out any study or report on the
environmental effects of such assistance.
(b) Report.--Not later than the date that is 5 years after
the date of enactment of this section, the Secretary of
Agriculture shall submit, to the Committee on Financial
Services of the House of Representatives and the Committee on
Banking, Housing, and Urban Affairs of the Senate, a report
that--
(1) determines whether the implementation of this section--
(A) reduced the amount of time it takes to review an
application for assistance under the sections of the Housing
Act of 1949 identified in subsection (a); and
(B) reduced the administrative cost of providing such
assistance;
(2) describes how the implementation of this section
affects the affordable housing sector in rural America; and
(3) includes any legislative recommendations from the
Secretary of Agriculture.
(c) Definitions.--In this section:
(1) Greenfield.--The term ``greenfield'' means a site that
has not been developed, including a woodland, farmland, and
an open field.
(2) Infill site.--The term ``infill site''--
(A) means a site that is served by existing infrastructure,
including water lines, sewer lines, and roads; and
(B) does not include--
(i) a site that is served by existing infrastructure that
only consists of a road;
(ii) a site within a census tract designated as very high
or relatively high risk for wildfire, coastal flooding, and
riverine flooding under the National Risk Index of the
Federal Emergency Management Agency pursuant to section 206
of the Robert T. Stafford Disaster Relief and Emergency
Assistance Act (42 U.S.C. 5136); and
(iii) a greenfield.
SEC. 104. DATABASE OF PUBLICLY OWNED LAND.
(a) In General.--Section 104(b) of the Housing and
Community Development Act of 1974 (42 U.S.C. 5304(b)) is
amended--
(1) in paragraph (5), by striking ``and'' at the end;
(2) in paragraph (6), by striking the period at the end and
inserting ``; and''; and
(3) by adding at the end the following:
``(7) the grantee maintains, on a publicly accessible
website, a searchable database that identifies all parcels of
undeveloped land owned by the grantee.''.
(b) Eligible Activity.--Section 105(a) of the Housing and
Community Development Act of 1974 (42 U.S.C. 5305(a)) is
amended--
(1) in paragraph (25), by striking ``and'' at the end;
(2) in paragraph (26), by striking the period at the end
and inserting ``; and''; and
(3) by adding at the end the following:
``(27) the creation and maintenance of a database of land
as required under section 104(b)(7).''.
(c) Effective Date.--The amendment made by this subsection
shall take effect on October 1, 2026.
SEC. 105. FHA SMALL-DOLLAR MORTGAGES.
(a) In General.--Not later than 1 year after the date of
the enactment of this section, the Secretary of Housing and
Urban Development, acting through the Federal Housing
Commissioner, may establish a pilot program to increase
access to small-dollar mortgages for mortgagors, which may
include--
(1) authorizing direct payments to mortgagees to
incentivize the origination of small-dollar mortgages;
(2) adjusting terms and costs imposed by the Federal
Housing Administration with respect to small-dollar
mortgages;
(3) providing direct grants for mortgagors who obtain
small-dollar mortgages to cover costs associated with--
(A) down payments;
(B) closing costs;
(C) appraisals; and
(D) title insurance;
(4) conducting outreach to potential mortgagors about the
availability of small-dollar mortgages; and
(5) providing technical assistance for mortgagees that
originate small-dollar mortgages.
(b) Report.--Beginning not later than 1 year after the
establishment of the pilot program under subsection (a) and
ending 1 year after the sunset of the pilot program, the
Federal Housing Commissioner shall submit to Congress an
annual report that--
(1) tracks and evaluates the outcomes of small-dollar
mortgages originated by mortgagees as a result of support
provided under subsection (a);
(2) analyzes risks of the pilot program to the solvency of
the Mutual Mortgage Insurance Fund;
(3) includes data with respect to--
(A) the number of small-dollar mortgages originated in the
10-year period preceding the date of enactment of this
section, including small-dollar mortgages insured or
guaranteed by the Federal Government and small-dollar
mortgages not insured by the Federal Government;
(B) the original principal balance of each small-dollar
mortgage identified under subparagraph (A);
(C) demographic information about the mortgagors associated
with each such small-dollar mortgages; and
(D) the number and type of mortgagees that offer small-
dollar mortgages;
(4) provides a description of the fixed costs that are
associated with mortgages and the impact of such costs on the
ability of lenders to earn a market rate return on small-
dollar mortgages; and
(5) includes analysis, by regions of the United States,
including rural regions, that identifies regions with the
greatest need for, and the highest likelihood of, the
origination of small-dollar mortgages and regions that could
benefit the most from increased availability of small-dollar
mortgages.
(c) Sunset.--The pilot program established under subsection
(a) shall terminate on the date that is 4 years after the
date on which the pilot program is established under
subsection (a).
(d) Expiration of Authority.--After the expiration of the
3-year period beginning on the date of enactment of this
section, neither the Federal Housing Commissioner nor the
Secretary of Housing and Urban Development may newly
establish a pilot program to increase access to small-dollar
mortgages for mortgagors.
(e) Small-dollar Mortgage Defined.--The term ``small-dollar
mortgage'' means a mortgage that--
(1) has an original principal balance of $100,000 or less;
and
(2) is secured by a 1- to 4-unit property that is the
principal residence of the mortgagor.
SEC. 106. TEMPERATURE SENSOR PILOT PROGRAM.
(a) In General.--The Secretary of Housing and Urban
Development shall establish a temperature sensor pilot
program to provide grants to public housing agencies and
owners of covered federally assisted rental dwelling units to
acquire, install, and test the efficacy of approved
temperature sensors in residential dwelling units to ensure
such units remain in compliance with temperature
requirements.
(b) Eligibility.--
(1) In general.--The Secretary of Housing and Urban
Development shall, not later than 180 days after the date of
enactment of this Act, establish eligibility criteria for
public housing agencies and owners of covered federally
assisted rental dwelling units to participate in the pilot
program established pursuant to subsection (a).
(2) Criteria.--In establishing the eligibility criteria
described in paragraph (1), the Secretary shall ensure--
(A) the pilot program includes a diverse range of
participants that represent different geographic regions,
climate regions, unit sizes, and types of housing; and
(B) that the functionality of an approved temperature
sensor will be installed and tested using amounts awarded
under this section, including internet connectivity
requirements.
(c) Installation.--Each public housing agency or owner of a
covered federally assisted rental dwelling unit that acquires
1 or more approved temperature sensors under this section
shall, after receiving written permission from
[[Page H4154]]
the resident of a dwelling unit, install such temperature
sensor and monitor the data from such temperature sensor.
(d) Collection of Complaint Records.--
(1) In general.--Each public housing agency or owner of a
covered federally assisted rental dwelling unit that installs
1 or more approved temperature sensors under this section
shall collect and retain information about temperature-
related complaints and temperature-related violations.
(2) Definitions.--The Secretary shall, not later than 180
days after the date of enactment of this Act, define the
terms ``temperature-related complaints'' and ``temperature-
related violations'' for the purposes of this subsection.
(e) Data Collection.--
(1) In general.--Data collected from temperature sensors
acquired and installed by public housing agencies and owners
of covered federally assisted rental dwelling units under
this section shall be retained until the Secretary of Housing
and Urban Development notifies the public housing agency or
owner that the pilot program and the evaluation of the pilot
program are complete.
(2) Personally identifiable information.--The Secretary of
Housing and Urban Development shall, not later than 180 days
after the date of enactment of this Act, establish standards
for the protection of personally identifiably information
collected during the pilot program by public housing
agencies, owners of federally assisted rental dwelling units,
and the Secretary.
(f) Pilot Program Evaluation.--
(1) Interim evaluation.--Not later than 12 months after the
establishment of the pilot program under this section, the
Secretary of Housing and Urban Development shall publicly
publish and submit to Congress a report that--
(A) examines the number of temperature-related complaints
and temperature-related violations in federally assisted
rental dwelling units with temperature sensors, disaggregated
by temperature sensor technology and climate region--
(i) that occurred before the installation of such sensor,
if known; and
(ii) that occurred after the installation of such sensor;
and
(B) identifies any barriers to full utility of temperature
sensor capabilities, including broadband internet access and
tenant participation.
(2) Final evaluation.--Not later than 36 months after the
conclusion of the pilot program established by the Secretary
of Housing and Urban Development under this section, the
Secretary shall publicly publish and submit to Congress a
report that--
(A) examines the number of temperature-related complaints
and temperature-related violations in federally assisted
rental dwelling units with temperature sensors, disaggregated
by temperature sensor technology and climate region--
(i) that occurred before the installation of such sensor;
and
(ii) that occurred after the installation of such sensor;
(B) identifies any barriers to full utility of temperature
sensor capabilities, including broadband internet access and
tenant participation; and
(C) compares the utility of various temperature sensor
technologies based on--
(i) climate zones;
(ii) cost;
(iii) features; and
(iv) any other factors identified by the Secretary.
(g) Treatment of Projects.--Projects assisted under this
section shall be treated as projects assisted under the
Community Development Block Grant program under title I of
the Housing and Community Development Act of 1974 (42 U.S.C.
5301 et seq.).
(h) Sunset.--The pilot program established under this
section shall terminate on the date that is 3 years after the
date of enactment of this section.
(i) Definitions.--In this section:
(1) Approved temperature sensor.--The term ``approved
temperature sensor'' means an internet capable temperature
reporting device able to measure ambient air temperature to
the tenth degree Fahrenheit and Celsius selected from a list
of such devices approved in advance by the Secretary of
Housing and Urban Development.
(2) Assistance.--The term ``assistance''--
(A) means any grant, loan, subsidy, contract, cooperative
agreement, or other form of financial assistance; and
(B) does not include the insurance or guarantee of a loan,
mortgage, or pool of loans or mortgages.
(3) Covered federally assisted rental dwelling unit.--The
term ``covered federally assisted rental dwelling unit''
means a residential dwelling unit that is made available for
rental and for which assistance is provided, or that is part
of a housing project for which assistance is provided,
under--
(A) the program for project-based rental assistance under
section 8 of the United States Housing Act of 1937 (42 U.S.C.
1437f);
(B) the public housing program under the United States
Housing Act of 1937 (42 U.S.C. 1437 et seq.);
(C) the program for supportive housing for the elderly
under section 202 of the Housing Act of 1959 (12 U.S.C.
1701q); or
(D) the program for supportive housing for persons with
disabilities under section 811 of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 8013).
(4) Owner.--The term ``owner'' means--
(A) with respect to the program for project-based rental
assistance under section 8 of the United States Housing Act
of 1937 (42 U.S.C. 1437f), any private person or entity,
including a cooperative, an agency of the Federal Government,
or a public housing agency, having the legal right to lease
or sublease dwelling units;
(B) with respect to the public housing program under the
United States Housing Act of 1937 (42 U.S.C. et seq.), a
public housing agency or an owner entity, as those terms are
defined in section 905.108 of title 24, Code of Federal
Regulations, of public housing units;
(C) with respect to the program for supportive housing for
the elderly under section 202 of the Housing Act of 1959 (12
U.S.C. 1701q), a private nonprofit organization, as defined
under subsection (k)(4) of that section; and
(D) with respect to the program for supportive housing for
persons with disabilities under section 811 of the Cranston-
Gonzalez National Affordable Housing Act (42 U.S.C. 8013), a
private nonprofit organization, as defined under subsection
(k)(6) of that section.
SEC. 107. HOUSING SUPPLY FRAMEWORKS.
(a) Definitions.--In this section:
(1) Affordable housing.--The term ``affordable housing''
means housing for which the monthly payment is not more than
30 percent of the monthly income of the household.
(2) Assistant secretary.--The term ``Assistant Secretary''
means the Assistant Secretary for Policy Development and
Research of the Department of Housing and Urban Development.
(3) Local zoning framework.--The term ``local zoning
framework'' means the local zoning codes and other
ordinances, procedures, and policies governing zoning and
land-use at the local level.
(4) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(5) State zoning framework.--The term ``State zoning
framework'' means the State legislation or State agency and
department procedures, or such legislation or procedures in
an insular area of the United States, enabling local planning
and zoning authorities and establishing and guiding related
policies and programs.
(b) Guidelines on State and Local Zoning Frameworks.--
(1) In general.--Not later than 3 years after the date of
enactment of this Act, the Assistant Secretary shall publish
documents outlining guidelines and best practices to support
production of adequate housing to meet the needs of
communities and provide housing opportunities for individuals
at every income level across communities with respect to--
(A) State zoning frameworks; and
(B) local zoning frameworks.
(2) Consultation; public comment.--During the 2-year period
beginning on the date of enactment of this Act, in developing
the guidelines and best practices required under paragraph
(1), the Assistant Secretary shall--
(A) publish draft guidelines and best practices in the
Federal Register for public comment; and
(B) establish a task force for the purpose of providing
consultation to draft the guidelines and best practices
published under subparagraph (A), the members of which shall
include--
(i) urban planners and architects;
(ii) housing developers, including affordable and market-
rate housing developers, manufactured housing developers,
cooperative housing developers, and other business interests;
(iii) community engagement experts and community members
impacted by zoning decisions;
(iv) public housing agencies and transit authorities;
(v) members of local zoning and planning boards and local
and regional transportation planning organizations;
(vi) State officials responsible for housing or land use,
including members of State zoning boards of appeals;
(vii) academic researchers; and
(viii) home builders.
(3) Contents.--The guidelines and best practices required
under paragraph (1) shall--
(A) with respect to State zoning frameworks, outline
potential models for updated State enabling legislation or
State agency and department procedures;
(B) include recommendations regarding--
(i) the reduction or elimination of parking minimums;
(ii) the increase in maximum floor area ratio requirements
and maximum building heights and the reduction in minimum lot
sizes and set-back requirements;
(iii) the elimination of restrictions against accessory
dwelling units;
(iv) increasing by-right uses, including duplex, triplex,
or quadplex buildings, across cities or metropolitan areas;
(v) mechanisms, including proximity to transit, to
determine the appropriate scope for rezoning and ensure
development that does not disproportionately burden residents
of economically distressed areas;
(vi) provisions regarding review of by-right development
proposals to streamline review and reduce uncertainty,
including--
(I) nondiscretionary, ministerial review; and
(II) entitlement and design review processes;
(vii) the reduction of obstacles, regulatory or otherwise,
to a range of housing types at all levels of affordability,
including manufactured and modular housing;
(viii) State model zoning regulations for directing local
reforms, including mechanisms to encourage adoption;
(ix) provisions to encourage transit-oriented development,
including increased permissible units per structure and
reduced minimum lot sizes near existing or planned public
transit stations;
(x) potential reforms to strengthen the public engagement
process;
(xi) reforms to protest petition statutes;
(xii) the standardization, reduction, or elimination of
impact fees;
(xiii) cost-effective and appropriate building codes;
[[Page H4155]]
(xiv) models for community benefit agreements;
(xv) mechanisms to preserve affordability, limit disruption
of low-income communities, and prevent displacement of
existing residents;
(xvi) with respect to State zoning frameworks--
(I) State model codes for directing local reforms,
including mechanisms to encourage adoption;
(II) a model for a State zoning appeals process, which
would--
(aa) create a process for developers or builders requesting
a variance, conditional use, special permit, zoning district
change, similar discretionary permit, or otherwise
petitioning a local zoning or planning board for a project,
including a State-defined amount of affordable housing to
appeal a rejection to a State body or regional body empowered
by the State; and
(bb) establish qualifications for communities to be
exempted from the appeals process based on their available
stock of affordable housing; and
(III) streamlining of State environmental review policies;
(xvii) with respect to local zoning frameworks--
(I) the simplification and standardization of existing
zoning codes;
(II) maximum review timelines;
(III) best practices for the disposition of land owned by
local governments for affordable housing development;
(IV) differentiations between best practices for rural,
suburban, and urban communities, and communities with
different levels of density or population distribution; and
(V) streamlining of local environmental review policies;
and
(xviii) other land use measures that promote access to new
housing opportunities identified by the Secretary; and
(C) consider--
(i) the effects of adopting any recommendation on
eligibility for Federal discretionary grants and tax credits
for the purpose of housing or community development;
(ii) coordination between infrastructure investments and
housing planning;
(iii) local housing needs, including ways to set and
measure housing goals and targets;
(iv) a range of affordability for rental units, with a
prioritization of units attainable to extremely low-, low-,
and moderate-income residents;
(v) a range of affordability for homeownership;
(vi) accountability measures;
(vii) the long-term cost to residents and businesses if
more housing is not constructed;
(viii) barriers to individuals seeking to access affordable
housing in growing communities and communities with economic
opportunity;
(ix) with respect to State zoning frameworks--
(I) distinctions between States providing constitutional or
statutory home rule authority to municipalities and States
operating under the Dillon Rule, as articulated in Hunter v.
Pittsburgh, 207 U.S. 161 (1907); and
(II) Statewide mechanisms to preserve existing
affordability over the long term, including support for land
banks and community land trusts;
(x) public comments elicited under paragraph (2)(A); and
(xi) other considerations, as identified by the Assistant
Secretary.
(c) Abolishment of the Regulatory Barriers Clearinghouse.--
(1) In general.--The Regulatory Barriers Clearinghouse
established pursuant to section 1205 of the Housing and
Community Development Act of 1992 (42 U.S.C. 12705d) is
abolished.
(2) Repeal.--Section 1205 of the Housing and Community
Development Act of 1992 (42 U.S.C. 12705d) is repealed.
(d) Reporting.--Not later than 5 years after the date on
which the Assistant Secretary publishes the final guidelines
and best practices for State and local zoning frameworks
under this section, the Assistant Secretary shall submit to
Congress a report describing--
(1) the States that have adopted recommendations from the
guidelines and best practices, pursuant to subsection (b);
(2) a summary of the localities that have adopted
recommendations from the guidelines and best practices,
pursuant to subsection (b);
(3) a list of States that adopted a State zoning framework;
(4) a summary of the modifications that each State has made
in their State zoning framework;
(5) a general summary of the types of updates localities
have made to their local zoning framework;
(6) with respect to the States that have adopted a State
zoning framework or recommendations from the guidelines and
best practices, the effect of such adoptions; and
(7) a summary of any recommendations that were routinely
not adopted by States or by localities.
(e) Rule of Construction.--Nothing in this section may be
construed to permit the Department of Housing and Urban
Development to take an adverse action against or fail to
provide otherwise offered actions or services for any State
or locality if the State or locality declines to adopt a
guideline or best practice under subsection (b).
TITLE II--BUILDING MORE IN AMERICA
SEC. 201. INCREASING HOUSING IN OPPORTUNITY ZONES.
(a) Covered Grant Defined.--In this section, the term
``covered grant'' means any competitive grant relating to the
construction, modification, rehabilitation, or preservation
of housing, as determined by the Secretary of Housing and
Urban Development.
(b) Priority.--When awarding a covered grant, the Secretary
of Housing and Urban Development may give additional weight
to applicants with proposed activities or projects that are
located in or substantially and directly benefit a community
designated as a qualified opportunity zone under section
1400Z-1 of the Internal Revenue Code of 1986.
SEC. 202. WHOLE-HOME REPAIRS ACT.
(a) Definitions.--In this section:
(1) Affordable unit.--The term ``affordable unit'' means a
unit for which the monthly rental payment is not more than 30
percent of the gross income of an individual earning at or
below 80 percent of the area median income, as defined by the
Secretary.
(2) Assisted unit.--The term ``assisted unit'' means a unit
that undergoes repair or rehabilitation work through a whole-
home repairs program administered by an implementing
organization under this section.
(3) Eligible home-owner.--The term ``eligible home-owner''
means a home-owner--
(A) with a household income that--
(i) is not more than 80 percent of the area median income;
or
(ii) meets the income eligibility requirements for
receiving assistance or benefits under a specified program,
as defined in paragraph (11); and
(B) who is--
(i) an owner of record as evidenced by a publicly recorded
deed, or other document recorded by the Bureau of Indian
Affairs, and occupies the home on which repairs are to be
conducted as their principal residence;
(ii) an owner-occupant of the manufactured home on which
repairs are to be conducted;
(iii) an owner-occupant of the cooperative housing unit on
which repairs are to be conducted; or
(iv) an owner who can demonstrate an ownership interest in
the property, or trust land leasehold, on which repairs are
to be conducted, including a person who has inherited an
interest in that property.
(4) Eligible landlord.--The term ``eligible landlord''
means an individual--
(A) who owns, as determined by the relevant implementing
organization, fewer than 10 eligible rental properties, with
a majority of affordable units and not more than 25 total
units, operated as primary residences in which a majority
ownership interest is held by the individual, the spouse of
the individual, or the dependent children of the individual,
or any closely held legal entity controlled by the
individual, the spouse of the individual, or the dependent
children of the individual, either individually or
collectively; and
(B) who agrees to the provisions described in subsection
(b)(3).
(5) Eligible rental property.--The term ``eligible rental
property'' means a residential property that--
(A) is leased, or offered exclusively for lease, as a
primary residence by an eligible landlord; and
(B) includes affordable units.
(6) Forgivable loan.--The term ``forgivable loan'' means a
loan--
(A) made to an eligible landlord;
(B) that is secured by a lien recorded against a
residential property; and
(C) that may be forgiven by the implementing organization
not later than the date that is 3 years after the completion
of the repairs if the eligible landlord has maintained
compliance with the loan agreement described in subsection
(b)(3).
(7) Implementing organization.--The term ``implementing
organization''--
(A) means a unit of general local government or a State
that--
(i) will administer a whole-home repairs program through an
agency, department, or other entity; or
(ii) enters into agreements with 1 or more local
governments, Indian tribes, municipal authorities, other
governmental authorities, including a tribally designated
housing entity, or qualified nonprofit organizations, to
administer a whole-home repairs program as a subrecipient;
and
(B) does not include a redundant entity in a jurisdiction
already served by a grantee under subsection (b).
(8) Indian tribe.--The term ``Indian tribe'' has the
meaning given the term in section 4 of the Native American
Housing Assistance and Self-Determination Act of 1996 (25
U.S.C. 4103).
(9) Qualified nonprofit.--The term ``qualified nonprofit''
means a nonprofit organization that--
(A) has received funding, as a recipient or subrecipient,
through--
(i) the Community Development Block Grant program under
title I of the Housing and Community Development Act of 1974
(42 U.S.C. 5301 et seq.);
(ii) the HOME Investment Partnerships program under
subtitle A of title II of the Cranston-Gonzalez National
Affordable Housing Act (42 U.S.C. 12741 et seq.);
(iii) the Lead-Based Paint Hazard Reduction grant program
under section 1011 of the Residential Lead-Based Paint Hazard
Reduction Act of 1992 (42 U.S.C. 4852), a grant under the
Healthy Homes Initiative administered by the Secretary
pursuant to sections 501 and 502 of the Housing and Urban
Development Act of 1970 (12 U.S.C. 1701z-1, 1701z-2), or a
grant under the Older Adult Home Modification Grants Program
authorized under the Consolidated Appropriations Act, 2024
(Public Law 118-42), or any successor Act, to make safety and
functional home modification repairs and renovations to meet
the needs of low-income seniors to enable them to remain in
their primary residence;
(iv) the Self-Help and Assisted Homeownership Opportunity
program authorized under section 11 of the Housing
Opportunity Program Extension Act of 1996 (42 U.S.C. 12805
note);
(v) a rural housing program under title V of the Housing
Act of 1949 (42 U.S.C. 1471 et seq.); or
[[Page H4156]]
(vi) the Neighborhood Reinvestment Corporation established
under the Neighborhood Reinvestment Corporation Act (42
U.S.C. 8101 et seq.);
(B) has coordinated, performed, or otherwise been engaged
in weatherization, lead remediation, or home-repair work for
not less than 2 years;
(C) has been certified by the Environmental Protection
Agency, or by a State authorized by the Environmental
Protection Agency to administer a certification program, as--
(i) eligible to carry out activities under the lead
renovation, repair, and painting program under section 402(c)
or 404 of the Toxic Substances Control Act (15 U.S.C.
2682(c), 2684); or
(ii) a Home Certification Organization under the Energy
Star program established by section 324A of the Energy Policy
and Conservation Act (42 U.S.C. 6294a) or the WaterSense
program under section 324B of that Act (42 U.S.C. 6294b), or
recognized or otherwise approved by the Environmental
Protection Agency as a Home Certification Organization under
either of those programs; or
(D) is a community development financial institution, as
defined in section 103 of the Community Development Banking
and Financial Institutions Act of 1994 (12 U.S.C. 4702).
(10) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(11) Specified program.--For purposes of paragraph
(3)(A)(ii), the term ``specified program'' means any of the
following:
(A) The Medicaid program established under title XIX of the
Social Security Act (42 U.S.C. 1396 et seq.).
(B) The State Children's Health Insurance Program
established under title XXI of the Social Security Act (42
U.S.C. 1397aa et seq.).
(C) The supplemental security income benefits program
established under title XVI of the Social Security Act (42
U.S.C. 1381 et seq.).
(D) The supplemental nutrition assistance program
established under the Food and Nutrition Act of 2008 (7
U.S.C. 2011 et seq.).
(E) The temporary assistance for needy families program
established under part A of title IV of the Social Security
Act (42 U.S.C. 601 et seq.).
(12) State.--The term ``State'' means--
(A) each State of the United States;
(B) the District of Columbia;
(C) the Commonwealth of Puerto Rico;
(D) any territory or possession of the United States; and
(E) an Indian tribe.
(13) Tribally designated housing entity.--The term
``tribally designated housing entity'' has the meaning given
the term in section 4 of the Native American Housing
Assistance and Self-Determination Act of 1996 (25 U.S.C.
4103).
(14) Whole-home repairs.--The term ``whole-home repairs''
means modifications, repairs, or updates to home-owner or
renter-occupied units to address--
(A) physical and sensory accessibility for individuals with
disabilities and older adults, such as bathroom and kitchen
modifications, installation of grab bars and handrails,
guards and guardrails, lifting devices, ramp additions or
repairs, sidewalk addition or repair, or doorway or hallway
widening;
(B) habitability and safety concerns, such as repairs
needed to ensure residential units are fit for human
habitation and free from defective conditions or health and
safety hazards; or
(C) energy and water efficiency, resilience, and
weatherization.
(b) Pilot Program.--
(1) Establishment.--There is authorized a pilot program to
provide grants to implementing organizations to administer a
whole-home repairs program for eligible home-owners and
eligible landlords.
(2) Use of funds.--An implementing organization that
receives a grant from appropriated funds made available for
this subsection--
(A) shall provide grants to eligible home-owners to
implement whole-home repairs not covered by other Federal
home repair programs up to a maximum amount per unit, which
maximum amount should--
(i) reflect local construction costs and the level of
repairs needed in each unit; and
(ii) be calculated and approved by the Secretary;
(B) shall provide loans, which may be forgivable, to
eligible landlords to implement whole-home repairs not
covered by other Federal home repair programs for individual
affordable units, public and common use areas within the
property, and common structural elements up to a maximum
amount per unit, area, or element, as applicable, which
maximum amount should--
(i) reflect local construction costs; and
(ii) be calculated and approved by the Secretary;
(C) shall evaluate, or provide assistance to eligible home-
owners and eligible landlords to evaluate, whole-home repair
program funds provided under this subsection with Federal,
State, Tribal, and local home repair programs to provide the
greatest benefit to the greatest number of eligible landlords
and eligible home-owners and avoid duplication of benefits
and redundancies for the same home repairs;
(D) shall require that--
(i) all repairs funded or facilitated through an award
under this subsection have been completed;
(ii) if repairs are not completed and the plan for whole-
home repairs is not updated to reflect the new scope of work,
that the loan or grant is repaid on a prorated basis based on
completed work; and
(iii) any unused grant or loan balance is returned to the
implementing organization, and is reused by the implementing
organization for a new whole-home repair grant or loan under
this subsection;
(E) may use not more than 5 percent of the awarded funds to
carry out related functions, including workforce training for
home repair professions, which shall be related to efforts to
increase the number of home repairs performed and approved by
the Secretary;
(F) may use not more than 10 percent of the awarded funds
for administrative expenses;
(G) shall comply with Federal accessibility requirements
and standards under applicable Federal fair housing and civil
rights laws and regulations, including section 504 of the
Rehabilitation Act of 1973 (29 U.S.C. 794); and
(H) shall ensure that rental properties assisted under
subparagraph (B) shall be treated as projects assisted under
title I of the Housing and Community Development Act of 1974
(42 U.S.C. 5301 et seq.).
(3) Loan agreement.--In a loan agreement with an eligible
landlord under this subsection, an implementing organization
shall include provisions establishing that the eligible
landlord shall, for each eligible rental property for which a
loan is used to fund repairs under this subsection--
(A) comply with Federal accessibility requirements and
standards under applicable Federal fair housing and civil
rights laws and regulations, including section 504 of the
Rehabilitation Act of 1973 (29 U.S.C. 794); and
(B)(i) if the landlord is renting the assisted units
available in the eligible rental property to tenants
receiving tenant-based rental assistance under section 8(o)
of the United States Housing Act of 1937 (42 U.S.C.
1437f(o)), under another tenant-based rental assistance
program administered by the Secretary or the Secretary of
Agriculture, or under a tenant-based rental subsidy provided
by a State or local government, comply with the program
requirements under the relevant tenant-based rental
assistance program; or
(ii) if the eligible landlord is not renting to tenants
receiving rental-based assistance as described in clause
(i)--
(I)(aa) offer to extend the lease of current tenants on
current terms, other than the terms described in subclause
(iv) for not less than 3 years beginning after the completion
of the repairs, unless the lease is terminated due to failure
to pay rent, performance of an illegal act within the rental
unit, or a violation of an obligation of tenancy that the
tenants failed to correct after notice; and
(bb) if the tenant of an assisted unit moves out of the
assisted unit at any point in the 3-year period following the
loan agreement, maintain the unit as an affordable unit for
the remainder of the 3-year period;
(II) provide documentation verifying that the property,
upon completion of approved renovations, has met all
applicable State and local housing and building codes;
(III) attest that the landlord has no known serious
violations of renter protections that have resulted in fines,
penalties, or judgments during the preceding 10 years; and
(IV) cap annual rent increases for each assisted unit at 5
percent of base rent or at the rate of inflation, whichever
is lower, for not less than 3 years beginning after the
completion of the repairs.
(4) Application.--
(A) In general.--An implementing organization desiring an
award under this subsection shall submit to the Secretary an
application that includes--
(i) the geographic scope of the whole-home repairs program
to be administered by the implementing organization,
including the plan to address need in any rural, Tribal,
suburban, or urban area within a jurisdiction;
(ii) a plan for selecting subrecipients, if applicable;
(iii) a description of how the implementing organization
plans to execute the coordination of Federal, State, Tribal,
and local home repair programs, including programs
administered by the Department of Energy, the Department of
the Interior, the Department of Veteran Affairs, or the
Department of Agriculture, to increase efficiency and reduce
redundancy;
(iv) available data on the need for affordable and quality
housing within the geographic scope of the whole-home repairs
program, and any plans to preserve affordability through the
term of the award;
(v) a description of how the implementing organization
plans to process and verify applications for grants from
eligible home-owners and applications for loans from eligible
landlords; and
(vi) such other information as the Secretary requires to
determine the ability of an applicant to carry out a program
under this subsection.
(B) Considerations.--In making awards under this
subsection, the Secretary shall--
(i) with respect to applications submitted by States other
than the District of Columbia and the territories of the
United States, prioritize those applications with a
demonstrated plan to--
(I) make a good-faith effort to implement the pilot program
in every jurisdiction; and
(II) provide nonmetropolitan areas, or subrecipients
serving non-metropolitan areas if applicable, with a share of
total funds commensurate with their population;
(ii) aim to select applicants so that the awardees
collectively span diverse geographies, with an intent to
understand the impact of the pilot program under this
subsection in urban, suburban, rural, and Tribal settings;
and
(iii) not disqualify implementing organizations that were
awarded grants under the pilot program in prior application
cycles.
(5) Program information.--The Secretary shall make
available to grant recipients under this subsection
information regarding existing Federal programs for which
grant recipients may coordinate or provide assistance in
coordinating applications for those programs in accordance
with paragraph (2)(C).
[[Page H4157]]
(6) Grant number.--In each year in which an award is made
under this subsection, the Secretary shall award assistance
to--
(A) not less than 2, and not more than 10, implementing
organizations, as application numbers and funding permit; and
(B) not more than 1 implementing organization in any State.
(7) Loans that are not forgiven.--If a loan made by an
implementing organization under paragraph (2)(B) is not
forgiven, the loan repayment funds shall be reused by the
implementing organization for a new whole-home repair grant
or loan under this subsection, which shall remain subject to
the original terms of the assistance awarded under this
subsection.
(8) Supplement, not supplant.--Amounts awarded under this
subsection to implementing organizations shall supplement,
not supplant, other Federal, State, Tribal, and local funds
made available to those entities.
(9) Streamlining program delivery and ensuring
efficiency.--To the extent possible, in carrying out the
pilot program under this subsection, the Secretary shall--
(A) endeavor to improve efficiency of service delivery, as
well as the experience of and impact on the taxpayer, by
encouraging programmatic collaboration and information
sharing across Federal, State, Tribal, and local programs for
home repair or improvement, including programs administered
by the Department of Agriculture, the Department of the
Interior, the Department of Veterans Affairs, or the
Department of Energy; and
(B) enhance collaboration and cross-agency streamlining
efforts that reduce the burden of multiple income
verification processes and applications on the eligible home-
owner, the eligible landlord, the implementing organization,
and the Federal Government, including by establishing
assistance application procedures for income eligibility
under this subsection that recognize income eligibility
determinations for assistance using any of the criteria under
subsection (a)(3)(A) that have been used for assistance
applications during the 1-year period preceding the date on
which an eligible home-owner or eligible landlord applies for
assistance under this subsection.
(10) Reporting requirements.--
(A) Annual report.--An implementing organization that
receives a grant under this subsection shall submit to the
Secretary an annual report on initial funding that includes--
(i) the number of units served, including reporting on both
home-ownership and rental units, as well as accessible units;
(ii) the average cost per unit for modifications or repairs
and the nature of those modifications or repairs, including
reporting on accessibility in both home-ownership and rental
units;
(iii) the number of applications received, served, denied,
or not completed, disaggregated by geographic area;
(iv) the aggregated demographic data of grant recipients,
which may include data on income range, urban, suburban, and
rural residency, age, and racial and ethnic identity;
(v) the aggregated demographic data of loan recipients,
which may include data on income range, urban, suburban, and
rural residency, age, and racial and ethnic identity;
(vi) an affirmation that the implementation organization
has complied with the applicable regulations, including
compliance with Federal accessibility requirements;
(vii) in the first year of receiving a grant, and as
certified in subsequent reports, a comprehensive plan to
prevent waste, fraud, and abuse in the administration of the
pilot program, which shall include, at a minimum--
(I) a policy enacted and enforced by the implementing
organization to monitor ongoing expenditures under this
subsection and ensure compliance with applicable regulations;
(II) a policy enacted and enforced by the implementing
organization to detect and deter fraudulent activity,
including fraud occurring in individual projects and patterns
of fraud by parties involved in the expenditure of funds
under this subsection;
(III) a statement setting forth any violations detected by
the implementing organization during the previous calendar
year, including details about steps taken to achieve
compliance and any remedial measures; and
(IV) a certification by the chief executive or most senior
compliance officer of the organization that the organization
maintains sufficient staff and resources to effectively carry
out the above-mentioned policies; and
(viii) such other information as the Secretary may require.
(B) Reporting requirement alignment.--To limit the costs of
implementing the pilot program under this subsection, the
Secretary shall endeavor, to the extent possible, to
structure reporting requirements such that they align with
the data reporting requirements in place for funding streams
that implementing organizations are likely to use together
with funding from this subsection, including the reporting
requirements under--
(i) the Community Development Block Grant program under
title I of the Housing and Community Development Act of 1974
(42 U.S.C. 5301 et seq.);
(ii) the HOME Investment Partnerships program under
subtitle A of title II of the Cranston-Gonzalez National
Affordable Housing Act (42 U.S.C. 12741 et seq.);
(iii) the Weatherization Assistance Program for low-income
persons established under part A of title IV of the Energy
Conservation and Production Act (42 U.S.C. 6861 et seq.); and
(iv) the Native American Housing Assistance and Self-
Determination Act of 1996 (25 U.S.C. 4101 et seq.).
(C) Pilot program period reports.--Not less frequently than
twice during the period in which the pilot program
established under this subsection operates, the Office of
Inspector General of the Department of Housing and Urban
Development shall complete an assessment of the
implementation of measures to ensure the fair and legitimate
use of the pilot program.
(D) Summary to congress.--The Secretary shall submit to the
Committee on Banking, Housing, and Urban Affairs of the
Senate and the Committee on Financial Services of the House
of Representatives an annual report providing a summary of
the data provided under subparagraphs (A) and (C) during the
1-year period preceding the report and all data previously
provided under those subparagraphs.
(11) Environmental review.--A grant under this subsection
shall be--
(A) treated as assistance for a special project for
purposes of section 305(c) of the Multifamily Housing
Property Disposition Reform Act of 1994 (42 U.S.C. 3547); and
(B) subject to the regulations promulgated by the Secretary
to implement such section.
(12) Termination.--The pilot program established under this
subsection shall terminate on October 1, 2031.
SEC. 203. COMMUNITY INVESTMENT AND PROSPERITY ACT.
(a) Revised Statutes.--The paragraph designated as the
``Eleventh'' of section 5136 of the Revised Statutes of the
United States (12 U.S.C. 24) is amended, in the fifth
sentence, by striking ``15'' each place the term appears and
inserting ``20''.
(b) Federal Reserve Act.--Section 9(23) of the Federal
Reserve Act (12 U.S.C. 338a) is amended, in the fifth
sentence, by striking ``15'' each place the term appears and
inserting ``20''.
(c) Study.--Not later than 2 years after the date of
enactment of this section, and every 2 years thereafter, the
Comptroller of the Currency and the Board of Governors of the
Federal Reserve System shall each submit to the Committee on
Financial Services of the House of Representatives and the
Committee on Banking, Housing, and Urban Affairs of the
Senate, a report, after consulting with the other agency in
the development of such report, about public welfare
investments that were made by associations under section 5136
of the Revised Statutes of the United States (12 U.S.C. 24)
and State member banks under section 9(23) of the Federal
Reserve Act (12 U.S.C. 338a) in the 2 previous calendar
years, that--
(1) identifies the number of such investments, broken down
by--
(A) purpose;
(B) type;
(C) amount of assets of the association or State member
bank that made the investment, using not fewer than 4
categories to describe the amount of assets of the
associations and banks; and
(D) State or other location;
(2) identifies the dollar amounts of such investments,
broken down by--
(A) purpose;
(B) type;
(C) amount of assets of the association or State member
bank that made the investment, using not fewer than 4
categories to describe the amount of assets of the
associations and banks; and
(D) State or other location; and
(3) for each type of public welfare investment identified
under paragraphs (1) and (2), a description of the
substantive and procedural requirements that apply to each
type of investment made under--
(A) in the case of a report by the Comptroller of the
Currency, section 5136 of the Revised Statutes of the United
States (12 U.S.C. 24); or
(B) in the case of a report by the Board of Governors,
section 9(23) of the Federal Reserve Act (12 U.S.C. 338a).
SEC. 204. ADDITION OF AFFORDABLE HOUSING CONSTRUCTION AS AN
ELIGIBLE ACTIVITY.
(a) Eligible Activity.--Section 105(a) of the Housing and
Community Development Act of 1974 (42 U.S.C. 5305(a)), as
amended by section 104 of this Act, is amended--
(1) in paragraph (26), by striking ``and'' at the end;
(2) in paragraph (27), by striking the period at the end
and inserting ``; and''; and
(3) by adding at the end the following:
``(28) the new construction of affordable housing, within
the meaning given such term under section 215 of the
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C.
12745), and which shall not exceed 20 percent of the amounts
allocated to the recipient.''.
(b) Low- and Moderate-income Requirement.--Section
105(c)(3) of the Housing and Community Development Act of
1974 (42 U.S.C. 5305(c)(3)) is amended by striking ``or
rehabilitation'' and inserting ``, rehabilitation, or new
construction''.
(c) Applicability.--The amendments made by this section
shall apply with respect only to amounts appropriated after
the date of enactment of this Act.
SEC. 205. BETTER USE OF INTERGOVERNMENTAL AND LOCAL
DEVELOPMENT (BUILD) HOUSING ACT.
(a) Designation of Environmental Review Procedure.--The
Department of Housing and Urban Development Act (42 U.S.C.
3531 et seq.) is amended by inserting after section 12 (42
U.S.C. 3537a) the following:
``SEC. 13. DESIGNATION OF ENVIRONMENTAL REVIEW PROCEDURE.
``(a) In General.--Except as provided in subsection (b),
the Secretary may, for purposes of environmental review,
decision making, and action pursuant to the National
Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.),
and other provisions of law that further the purposes of such
Act, designate the treatment of assistance administered by
the Secretary as funds for a special project for purposes of
section 305(c) of the Multifamily Housing Property
Disposition Reform Act of 1994 (42 U.S.C. 3547).
[[Page H4158]]
``(b) Exception.--The designation described in subsection
(a) shall not apply to assistance for which a procedure for
carrying out the responsibilities of the Secretary under the
National Environmental Policy Act of 1969 (42 U.S.C. 4321 et
seq.), and other provisions of law that further the purposes
of such Act, is otherwise specified in law.''.
(b) Tribal Assumption of Environmental Review
Obligations.--Section 305(c) of the Multifamily Housing
Property Disposition Reform Act of 1994 (42 U.S.C. 3547) is
amended--
(1) by striking ``State or unit of general local
government'' each place it appears and inserting ``State,
Indian Tribe, or unit of general local government'';
(2) in paragraph (1)(C), in the heading, by striking
``State or unit of general local government'' and inserting
``State, indian tribe, or unit of general local government'';
and
(3) by adding at the end the following:
``(5) Definition of indian tribe.--For purposes of this
subsection, the term `Indian Tribe' means a federally
recognized tribe, as defined in section 4(13)(B) of the
Native American Housing Assistance and Self-Determination Act
of 1996 (25 U.S.C. 4103(13)(B)).''.
(c) Implementation.--
(1) In general.--Except as provided in paragraph (2), a
designation of assistance under section 13 of the Department
of Housing and Urban Development Act, as added by subsection
(a), shall only apply with respect to funds appropriated
after the date of enactment of this Act.
(2) Exception.--If a grantee of assistance administered by
the Secretary of Housing and Urban Development combines funds
appropriated before and after the date of enactment of this
Act to carry out a project, section 13 of the Department of
and Urban Development Act, as added by subsection (a), shall
not apply to that assistance.
SEC. 206. UNLOCKING HOUSING SUPPLY THROUGH STREAMLINED AND
MODERNIZED REVIEWS ACT.
(a) Definitions.--In this section:
(1) Infill project.--The term ``infill project'' means a
project that--
(A) occurs within the geographic limits of a municipality;
(B) is adequately served by existing utilities and public
services as required under applicable law;
(C) is located on a site of previously disturbed land of
not more than 5 acres and substantially surrounded by
residential or commercial development;
(D) will repurpose a vacant or underutilized parcel of
land, or a dilapidated or abandoned structure; and
(E) will serve a residential or commercial purpose.
(2) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(b) NEPA Streamlining for HUD Housing-related Activities.--
(1) In general.--The Secretary shall, in accordance with
section 553 of title 5, United States Code, and section 103
of the National Environmental Policy Act of 1969 (42 U.S.C.
4333), expand and reclassify housing-related activities under
the necessary administrative regulations as follows:
(A) The following housing-related activities shall be
subject to regulations equivalent or substantially similar to
the regulations entitled ``exempt activities'' as set forth
in section 58.34 of title 24, Code of Federal Regulations, as
in effect on January 1, 2025:
(i) Tenant-based rental assistance.
(ii) Supportive services, including health care, housing
services, permanent housing placement, day care, nutritional
services, short-term payments for rent, mortgage, or utility
costs, and assistance in gaining access to Federal Government
and State and local government benefits and services.
(iii) Operating costs, including maintenance, security,
operation, utilities, furnishings, equipment, supplies, staff
training, and recruitment and other incidental costs.
(iv) Economic development activities, including equipment
purchases, inventory financing, interest subsidies, operating
expenses, and similar costs not associated with construction
or expansion of existing operations.
(v) Activities to assist home-buyers in the purchase of
existing dwelling units or dwelling units under construction,
including closing costs and down payment assistance, interest
rate buydowns, and similar activities that result in the
transfer of title.
(vi) Affordable housing predevelopment costs related to
obtaining site options, project financing, administrative
costs and fees for loan commitment, zoning approvals, and
other related activities that do not have a physical impact.
(vii) Approval of supplemental assistance, including
insurance or guarantee, to a project previously approved by
the Secretary.
(viii) Emergency home-owner or renter assistance for the
repair or replacement of HVAC, hot water heaters, and other
necessary existing utilities required under applicable law.
(B) The following housing-related activities shall be
subject to regulations equivalent or substantially similar to
the regulations entitled, (i) ``categorical exclusions not
subject to section 58.5'' and (ii) ``categorical exclusions
not subject to the Federal laws and authorities cited in
section 50.4'' in section 58.35(b) and section 50.19,
respectively of title 24, Code of Federal Regulations, as in
effect on January 1, 2025, if such activities do not
materially alter environmental conditions and do not
materially exceed the original scope of the project:
(i) Acquisition, repair, improvement, reconstruction, or
rehabilitation of public facilities and improvements (other
than buildings) if the facilities and improvements are in
place and will be retained in the same use without change in
size or capacity of more than 20 percent, including
replacement of water or sewer lines, reconstruction of curbs
and sidewalks, and repaving of streets.
(ii) Rehabilitation of 1-to-4 unit residential buildings,
and existing housing-related infrastructure, such as repairs
or rehabilitation of existing wells, septics, or utility
lines that connect to that housing.
(iii) New construction, development, demolition,
acquisition, or disposition of up to 4 scattered site
existing dwelling units where there is a maximum of 4 units
on any 1 site.
(iv) Acquisitions (including leasing) of, disposition of,
or equity loans on an existing structure, or acquisition
(including leasing) of vacant land if the structure or land
acquired, financed, or disposed of will be retained for the
same use.
(C) The following housing-related activities shall be
subject to regulations equivalent or substantially similar to
the regulations entitled, (i) ``categorical exclusions
subject to section 58.5'' and (ii) ``categorical exclusions
subject to the Federal laws and authorities cited in section
50.4'' in section 58.35(a) and section 50.20, respectively,
of title 24, Code of Federal Regulations, as in effect on
January 1, 2025, if such activities do not materially alter
environmental conditions and do not materially exceed the
original scope of the project:
(i) Acquisitions of open space or residential property,
where such property will be retained for the same use or will
be converted to open space to help residents relocate out of
an area designated as a high-risk area by the Secretary.
(ii) Conversion of existing office buildings into
residential development, subject to--
(I) a maximum number of units to be determined by the
Secretary; and
(II) a limitation on the change in building size of not
more than 20 percent.
(iii) New construction, development, demolition,
acquisition, or disposition of 5 to 15 dwelling units where
there is a maximum of 15 units on any 1 site. The units can
be 15 1-unit buildings or 1 15-unit building, or any
combination in between.
(iv) New construction, development, demolition,
acquisition, or disposition of 15 or more housing units
developed on scattered sites when there are not more than 15
housing units on any 1 site, and the sites are more than a
set number of feet apart as determined by the Secretary.
(v) Rehabilitation of buildings and improvements in the
case of a building for residential use with 5 to 15 units, if
the density is not increased beyond 15 units and the land use
is not changed.
(vi) Infill projects consisting of new construction,
rehabilitation, or development of residential housing units.
(vii) The voluntary acquisition of properties--
(I) located in--
(aa) a floodway;
(bb) a floodplain; or
(cc) any other area, clearly delineated by the grantee; and
(II) that have been impacted by a predictable environmental
threat to the safety and well-being of program beneficiaries
caused or exacerbated by a federally declared disaster.
(c) Implementation.--For purposes of implementing the
streamlining of environmental review for housing-related
activities under subsection (b), the agency actions carried
out under that subsection--
(1) shall only apply with respect to funds appropriated
after the effective date of those actions; and
(2) shall not apply with respect to a grantee that combines
funds appropriated before and after the effective date of
those actions to carry out a project.
(d) Report.--The Secretary shall submit to the Committee on
Banking, Housing, and Urban Affairs of the Senate and the
Committee on Financial Services of the House of
Representatives an annual report during the 5-year period
beginning on the date that is 2 years after the date of
enactment of this Act that provides a summary of findings of
reductions in review times and administrative cost reduction,
with a particular focus on the affordable housing sector, as
a result of the actions set forth in this section, and any
recommendations of the Secretary for future congressional
action with respect to revising categorical exclusions or
exemptions under title 24, Code of Federal Regulations.
SEC. 207. GRANTS FOR PLANNING AND IMPLEMENTATION ASSOCIATED
WITH AFFORDABLE HOUSING.
(a) Definitions.--In this section:
(1) Eligible entity.--The term ``eligible entity'' means--
(A) a State, insular area, metropolitan city, or urban
county, as those terms are defined in section 102 of the
Housing and Community Development Act of 1974 (42 U.S.C.
5302); or
(B) a regional planning agency or consortia of regional
planning agencies.
(2) Housing plan.--The term ``housing plan'' means a plan
to, with respect to an area within the jurisdiction of an
eligible entity--
(A) increase the amount of available housing to meet the
demand for such housing and any projected increase in the
demand for such housing;
(B) increase the affordability of housing;
(C) increase the accessibility of housing for people with
disabilities, including location-efficient housing;
(D) preserve or improve the quality of housing;
(E) reduce barriers to housing development; and
(F) coordinate with transportation-related agencies.
(3) Housing strategy.--The term ``housing strategy'' means
a housing strategy required under section 105 of the
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C.
12705).
[[Page H4159]]
(4) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(b) Establishment.--Not later than 1 year after the date of
enactment of this Act, the Secretary shall establish a
program to award grants on a competitive basis to eligible
entities to assist planning and implementation activities
associated with affordable housing, except that such grant
awards may not be used for construction, alteration, or
repair work.
(c) Use of Amounts.--
(1) By regional planning agencies.--If an eligible entity
that receives amounts under this section is an eligible
entity described in subsection (a)(1)(B), the eligible entity
shall use those amounts to assist planning activities with
respect to affordable housing, including--
(A) the development of housing plans;
(B) the substantial improvement of State or local housing
strategies;
(C) the development of new regulatory requirements and
processes;
(D) updating zoning codes;
(E) increasing the capacity to conduct housing inspections;
(F) increasing the capacity to reduce barriers to housing
supply elasticity and housing affordability;
(G) the development of local or regional plans for
community development; and
(H) the substantial improvement of community development
strategies, including strategies designed to--
(i) increase the availability of affordable housing and
access to affordable housing;
(ii) increase access to public transportation; and
(iii) advance sustainable or location-efficient community
development goals.
(2) By states, insular areas, metropolitan cities, and
urban counties.--If an eligible entity that receives amounts
under this section is an eligible entity described in
subsection (a)(1)(A), the eligible entity shall use those
amounts to--
(A) implement and administer housing strategies and housing
plans;
(B) implement and administer any plans to increase housing
choice, address disparities in housing needs, and provide
greater access to opportunity;
(C) fund any community investments that support goals
identified in a housing strategy or housing plan;
(D) implement and administer regulatory requirements and
processes with respect to reformed zoning codes;
(E) increase the capacity to conduct housing inspections;
(F) increase the capacity to reduce barriers to housing
supply elasticity and housing affordability;
(G) implement and administer local or regional plans for
community development; and
(H) fund any planning to increase--
(i) the availability of affordable housing and access to
affordable housing;
(ii) access to public transportation; and
(iii) any location-efficient community development goals.
(3) Use for administrative costs.--A eligible entity that
receives amounts under this section may not use more than 10
percent of those amounts for administrative costs.
(d) Coordination.--To the extent practicable, the Secretary
shall coordinate with the Administrator of the Federal
Transit Administration in carrying out this section.
(e) Expiration of Authority.--After the expiration of the
5-year period beginning on the date of enactment of this Act,
the Secretary may not newly establish a program as described
in this section.
(f) Sunset.--The program established under this section
shall terminate on the date that is 5 years after the date of
enactment of this Act.
SEC. 208. INNOVATION FUND.
(a) Definitions.--In this section:
(1) Attainable housing.--The term ``attainable housing''
means housing that serves households earning not more than
120 percent of the area median income, if the majority of the
housing units are affordable to households earning not more
than 60 percent of the area median income.
(2) Eligible entity.--The term ``eligible entity'' means--
(A) a metropolitan city or urban county, as those terms are
defined in section 102 of the Housing and Community
Development Act of 1974 (42 U.S.C. 5302), that has
demonstrated an objective improvement in housing supply
growth, as determined by the Secretary, whose methodology for
determining such growth is published in the Federal Register
to allow for public comment not less than 90 days before the
date on which the notice of funding opportunity is made
available; or
(B) a unit of general local government or an Indian tribe,
as those terms are defined in section 102 of the Housing and
Community Development Act of 1974 (42 U.S.C. 5302), that has
demonstrated an objective improvement in housing supply
growth, as determined by the Secretary, whose methodology for
determining such improvement is published in the Federal
Register to allow for public comment not less than 90 days
before the date on which the notice of funding opportunity is
made available.
(3) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(b) Establishment of a Grant Program.--
(1) Establishment.--Not later than 1 year after the date of
enactment of this Act, the Secretary shall establish a
program to award grants on a competitive basis to eligible
entities that have increased their local housing supply.
(2) List of eligible entities.--The Secretary shall make a
list of eligible entities publicly available on the website
of the Department of Housing and Urban Development.
(3) Eligible purposes.--An eligible entity receiving a
grant under this section may use funds to--
(A) carry out any of the activities described in section
105 of the Housing and Community Development Act of 1974 (42
U.S.C. 5305);
(B) carry out any of the activities permitted under the
Local and Regional Project Assistance Program established
under section 6702 of title 49, United States Code; and
(C) carry out initiatives of the eligible entity that
facilitate the expansion of the supply of attainable housing
and that supplement initiatives the eligible entity has
carried out, or is in the process of carrying out, as
specified in the application submitted under paragraph (4).
(4) Application.--
(A) In general.--An eligible entity seeking a grant under
this section shall submit to the Secretary an application
that provides--
(i) a description of each purpose for which the eligible
entity will use the grant, and an attestation that the grant
will be used only for 1 or more eligible purposes described
in paragraph (3);
(ii) data on characteristics of increased housing supply
during the 3-year period ending on the date on which the
application is submitted, which may include whether such
housing--
(I) serves households at a range of income levels; and
(II) has improved the quality and affordability of housing
in the jurisdiction of the eligible entity;
(iii) a description of how each eligible purpose described
in clause (i) may address a community need or advance an
objective, or an aspect of an objective, included in the
comprehensive housing affordability strategy and community
development plan of the eligible entity under part 91 of
title 24, Code of Federal Regulations, or any successor
regulation (commonly referred to as a ``consolidated plan'');
and
(iv) a description of how the eligible entity has carried
out, or is in the process of carrying out, initiatives that
facilitate the expansion of the supply of housing.
(B) Initiatives.--Initiatives that meet the criteria
described in paragraph (3)(C) include, but shall not be
limited to--
(i) increasing by-right uses, including duplex, triplex,
quadplex, and multifamily buildings, in areas of opportunity;
(ii) revising or eliminating off-street parking
requirements to reduce the cost of housing production;
(iii) revising minimum lot size requirements, floor area
ratio requirements, set-back requirements, building heights,
and bans or limits on construction that allow for denser and
more affordable development;
(iv) instituting incentives to promote dense development
for communities where increased density is needed;
(v) passing zoning overlays or other ordinances that enable
the development of mixed-income housing;
(vi) streamlining regulatory requirements and shortening
processes, increasing code enforcement and permitting
capacity, reforming zoning codes, or other initiatives that
reduce barriers to increasing housing supply and
affordability;
(vii) eliminating restrictions against accessory dwelling
units and expanding their by-right use;
(viii) using local tax incentives or public financing to
promote development of attainable housing;
(ix) streamlining environmental regulations;
(x) eliminating unnecessary manufactured-housing or
cooperative housing regulations and restrictions;
(xi) minimizing the impact of overburdensome energy and
water efficiency standards on housing costs; and
(xii) other activities that reduce the cost of
construction, as determined by the Secretary.
(5) Grants.--
(A) In general.--The Secretary shall make not fewer than 25
grants on an annual basis (unless amounts appropriated to
provide grant amounts consistent with subsection (b) are
insufficient, in which case fewer grants may be awarded),
with strong consideration of different geographical areas and
a relatively even spread of rural, suburban, and urban
communities.
(B) Limitations on awards.--No grant awarded under this
paragraph may be--
(i) more than $10,000,000; or
(ii) less than $250,000.
(C) Priority.--When awarding grants under this paragraph,
the Secretary shall give priority to an eligible entity that
has--
(i) demonstrated the use of innovative policies,
interventions, or programs for increasing housing supply; and
(ii) demonstrated a marked improvement in housing supply
growth, as needed.
(D) Grant administration and terms.--Projects assisted
under this section for activities described in sector 23 of
the North American Industry Classification System shall be
treated as projects assisted under the Community Development
Block Grant program under title I of the Housing and
Community Development Act of 1974 (42 U.S.C. 5301 et seq.).
(c) Rules of Construction.--Nothing in this section shall
be construed--
(1) to authorize the Secretary to mandate, supersede, or
preempt any local zoning or land use policy; or
(2) to affect the requirements of section 105(c)(1) of the
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C.
12705(c)(1)).
(d) Sunset.--The program established under this section
shall terminate on the date that is 7 years after the date of
enactment of this Act.
(e) Authorization of Appropriations.--
(1) In general.--There is authorized to be appropriated to
carry out this section $200,000,000 for each of fiscal years
2027 through 2031.
(2) Adjustment.--The amount authorized to be appropriated
under paragraph (1) shall be adjusted for inflation based on
the Consumer
[[Page H4160]]
Price Index for all Urban Customers published by the Bureau
of Labor Statistics of the Department of Labor.
SEC. 209. ACCELERATING HOME BUILDING ACT.
(a) Definitions.--In this section:
(1) Affordable housing.--The term ``affordable housing''
means housing for which the total monthly housing cost
payment is not more than 30 percent of the monthly household
income for a household earning not more than 80 percent of
the area median income.
(2) Covered structure.--The term ``covered structure''
means--
(A) a low-rise or mid-rise structure with not more than 25
dwelling units; and
(B) includes--
(i) an accessory dwelling unit;
(ii) infill development;
(iii) a duplex;
(iv) a triplex;
(v) a fourplex;
(vi) a cottage court;
(vii) a courtyard building;
(viii) a townhouse;
(ix) a multiplex; and
(x) any other structure with not less than 2 dwelling units
that the Secretary considers appropriate.
(3) Eligible entity.--The term ``eligible entity'' means--
(A) a unit of general local government, as defined in
section 102(a) of the Housing and Community Development Act
of 1974 (42 U.S.C. 5302(a));
(B) a municipal membership organization; and
(C) an Indian tribe, as defined in section 102(a) of the
Housing and Community Development Act of 1974 (42 U.S.C.
5302(a)).
(4) High opportunity area.--The term ``high opportunity
area'' has the meaning given the term in section 1282.1 of
title 12, Code of Federal Regulations, or any successor
regulation.
(5) Infill development.--The term ``infill development''
means residential development on small parcels in previously
established areas for replacement with new or refurbished
housing that utilizes existing utilities and infrastructure.
(6) Mixed-income housing.--The term ``mixed-income
housing'' means a housing development that is comprised of
housing units that promote differing levels of affordability
in the community.
(7) Prereviewed designs.--The term ``prereviewed designs'',
also known as pattern books, means sets of construction plans
that are assessed and approved by localities for compliance
with local building and permitting standards to streamline
and expedite approval pathways for housing construction.
(8) Rural area.--The term ``rural area'' means any area
other than a city or town that has a population of less than
50,000 inhabitants.
(9) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(b) Authority.--The Secretary is authorized to award grants
to eligible entities utilizing funds appropriated for such
purpose to select prereviewed designs of covered structures
of mixed-income housing for use in the jurisdiction of the
eligible entity, except that such grant awards may not be
used for construction, alteration, or repair work.
(c) Considerations.--In reviewing applications submitted by
eligible entities for a grant under this section, the
Secretary shall consider--
(1) the need for affordable housing in the service area of
the eligible entity;
(2) the presence of high opportunity areas in the
jurisdiction of the eligible entity;
(3) coordination between the eligible entity and a State
agency; and
(4) coordination between the eligible entity and State,
local, and regional transportation planning authorities.
(d) Set-aside for Rural Areas.--Of the amount made
available in each fiscal year for grants under this section,
the Secretary shall ensure that not less than 10 percent
shall be used for grants to eligible entities that are
located in rural areas.
(e) Reports.--The Secretary shall require eligible entities
receiving grants under this section to report on--
(1) the impacts of the activities carried out using the
grant amounts in improving the production and supply of
affordable housing;
(2) the prereviewed designs selected using the grant
amounts in their communities;
(3) the number of permits issued for housing development
utilizing prereviewed designs; and
(4) the number of housing units produced in developments
utilizing the prereviewed designs.
(f) Availability of Information.--The Secretary shall--
(1) to the extent possible, encourage localities to make
publicly available through a website information on the
prereviewed designs selected and submitted to the Secretary
by eligible entities receiving grants under this section,
including information on the benefits of use of those
designs; and
(2) collect, identify, and disseminate best practices
regarding such designs and make such information publicly
available on the website of the Department of Housing and
Urban Development.
(g) Design Adoption and Repayment.--The Secretary may
require an eligible entity to return to the Secretary any
grant funds received under this section if the selected
prereviewed designs submitted under this section have not
been adopted during the 5-year period following receipt of
the grant, unless that period is extended by the Secretary.
(h) Technical Assistance.--The Secretary may set aside not
more than 5 percent of amounts appropriated in a fiscal year
to provide technical assistance to grant recipients under
this section and pregrant technical assistance to prospective
applicants.
SEC. 210. REVITALIZING EMPTY STRUCTURES INTO DESIRABLE
ENVIRONMENTS (RESIDE) ACT.
(a) In General.--Subtitle A of title II of the Cranston-
Gonzalez National Affordable Housing Act (42 U.S.C. 12741 et
seq.) is amended by adding at the end the following:
``SEC. 227. REVITALIZING EMPTY STRUCTURES INTO DESIRABLE
ENVIRONMENTS.
``(a) Definitions.--In this section:
``(1) Attainable housing.--The term `attainable housing'
means housing that serves households earning not more than
120 percent of the area median income, if the majority of the
housing units are affordable to households earning not more
than 60 percent of the area median income.
``(2) Converted housing unit.--The term `converted housing
unit' means a housing unit that is created using a covered
grant.
``(3) Covered grant.--The term `covered grant' means a
grant awarded under the Pilot Program.
``(4) Eligible entity.--The term `eligible entity' means a
participating jurisdiction.
``(5) Pilot program.--The term `Pilot Program' means the
pilot program established under subsection (b).
``(6) Vacant and abandoned building.--The term `vacant and
abandoned building' means a property--
``(A) that was constructed for use as a warehouse, factory,
mall, strip mall, or hotel, or for another industrial or
commercial use; and
``(B)(i) with respect to which--
``(I) a code enforcement inspection has determined that the
property is not safe; and
``(II) not less than 90 days have elapsed since the owner
was notified of the deficiencies in the property and the
owner has taken no corrective action; or
``(ii) that is subject to a court-ordered receivership or
nuisance abatement related to abandonment pursuant to State
or local law or otherwise meets the definition of an
abandoned property under State law.
``(b) Purpose of Grant Program.--Subject to the
availability of funds appropriated for this subsection, the
Secretary is authorized to establish a pilot program,
spanning from fiscal years 2027 through 2031, which shall
have the purpose of awarding grants on a competitive basis to
eligible entities to convert vacant and abandoned buildings
into attainable housing.
``(c) Amount of Grant.--
``(1) In general.--For any fiscal year for which not less
than $100,000,000 is made available to carry out the Pilot
Program, the amount of a covered grant shall be not less than
$1,000,000 and not more than $10,000,000.
``(2) Fiscal years with lower funding.--For any fiscal year
for which less than $100,000,000 is made available to carry
out the Pilot Program pursuant to subsection (b), the
Secretary shall seek to maximize the number of covered grants
awarded.
``(d) Relation to Formula Allocation.--A covered grant
awarded to an eligible entity shall be in addition to, and
shall not affect, the formula allocation for the eligible
entity under section 217.
``(e) Priority.--In awarding covered grants, the Secretary
shall give priority to an eligible entity that--
``(1) will use the covered grant in a community that is
experiencing economic distress;
``(2) will use the covered grant in a qualified opportunity
zone (as defined in section 1400Z-1(a) of the Internal
Revenue Code of 1986);
``(3) will use the covered grant to construct housing that
will serve a need identified in the comprehensive housing
affordability strategy and community development plan of the
eligible entity under part 91 of title 24, Code of Federal
Regulations, or any successor regulation (commonly referred
to as a `consolidated plan'); or
``(4) has enacted ordinances to reduce regulatory barriers
to conversion of vacant and abandoned buildings to housing,
which shall not include any alteration of an ordinance that
governs safety and habitability.
``(f) Use of Funds.--An eligible entity may use a covered
grant for--
``(1) property acquisition;
``(2) demolition;
``(3) health hazard remediation;
``(4) site preparation;
``(5) construction, renovation, or rehabilitation; or
``(6) the establishment, maintenance, or expansion of
community land trusts or housing cooperatives.
``(g) Waiver Authority.--In administering covered grants,
the Secretary may waive, or specify alternative requirements
for, any statute or regulation that the Secretary administers
in connection with the obligation by the Secretary or the use
by eligible entities of covered grant funds (except for
requirements related to fair housing, nondiscrimination,
labor standards, or the environment) if the Secretary makes a
public finding that good cause exists for the waiver or
alternative requirement.
``(h) Study; Report.--Not later than 180 days after the
termination of the Pilot Program, the Secretary shall study
and submit to Congress a report on the impact of the Pilot
Program on--
``(1) improving the tax base of local communities;
``(2) increasing access to affordable housing, especially
for elderly individuals, disabled individuals, and veterans;
``(3) increasing home-ownership; and
``(4) removing blight.''.
(b) Technical and Conforming Amendment.--The table of
contents in section 1(b) of the Cranston-Gonzalez National
Affordable Housing Act (Public Law 101-625; 104 Stat. 4079)
is amended by inserting after the item relating to section
226 the following:
``Sec. 227. Revitalizing empty structures into desirable
environments.''.
[[Page H4161]]
SEC. 211. HOUSING AFFORDABILITY ACT.
(a) In General.--Title II of the National Housing Act (12
U.S.C. 1707 et seq.) is amended--
(1) in section 206A (12 U.S.C. 1712a)--
(A) in subsection (a), in the matter following paragraph
(7), by striking ``(commencing in 2004'' and all that follows
through the period at the end and inserting the following:
``, commencing on July 1, 2025. The adjustment of the Dollar
Amounts shall be calculated by the Secretary using the
percentage change in the Price Deflator Index of Multifamily
Residential Units Under Construction released by the Bureau
of the Census from March of the previous year to March of the
year in which the adjustment is made, or by the Secretary
using an alternative indicator after publishing information
about such alternative indicator in the Federal Register for
public comment if the Price Deflator Index of Multifamily
Residential Units Under Construction is not available or
published.''; and
(B) by amending subsection (b) to read as follows:
``(b) Publication.--
``(1) In general.--The Secretary shall publish in the
Federal Register any adjustments made to the Dollar Amounts.
``(2) Rounding.--The dollar amount of any adjustment
described in paragraph (1) shall be rounded to the next lower
dollar.'';
(2) in section 207(c)(3)(A) (12 U.S.C. 1713(c)(3)(A))--
(A) by striking ``$38,025'' and inserting ``$167,310'';
(B) by striking ``$42,120'' and inserting ``$185,328'';
(C) by striking ``$50,310'' and inserting ``$221,364'';
(D) by striking ``$62,010'' and inserting ``$272,844'';
(E) by striking ``$70,200'' and inserting ``$308,880'';
(F) by striking ``, or not to exceed $17,460 per space'';
(G) by striking ``$43,875'' and inserting ``$193,050'';
(H) by striking ``$49,140'' and inserting ``$216,216'';
(I) by striking ``$60,255'' and inserting ``$265,122'';
(J) by striking ``$75,465'' and inserting ``$332,046''; and
(K) by striking ``$85,328'' and inserting ``$375,443'';
(3) in section 213(b)(2) (12 U.S.C. 1715e(b)(2))--
(A) by striking ``$41,207'' and inserting ``$181,311'';
(B) by striking ``$47,511'' and inserting ``$209,048'';
(C) by striking ``$57,300'' and inserting ``$252,120'';
(D) by striking ``$73,343'' and inserting ``$322,709'';
(E) by striking ``$81,708'' and inserting ``$359,515'';
(F) by striking ``$43,875'' and inserting ``$193,050'';
(G) by striking ``$49,710'' and inserting ``$218,724'';
(H) by striking ``$60,446'' and inserting ``$265,962'';
(I) by striking ``$78,197'' and inserting ``$344,067''; and
(J) by striking ``$85,836'' and inserting ``$377,678'';
(4) in section 220(d)(3)(B)(iii)(I) (12 U.S.C.
1715k(d)(3)(B)(iii)(I))--
(A) by striking ``$38,025'' and inserting ``$167,310'';
(B) by striking ``$42,120'' and inserting ``$185,328'';
(C) by striking ``$50,310'' and inserting ``$221,364'';
(D) by striking ``$62,010'' and inserting ``$272,844'';
(E) by striking ``$70,200'' and inserting ``$308,880'';
(F) by striking ``$43,875'' and inserting ``$193,050'';
(G) by striking ``$49,140'' and inserting ``$216,216'';
(H) by striking ``$60,255'' and inserting ``$265,122'';
(I) by striking ``$75,465'' and inserting ``$332,046''; and
(J) by striking ``$85,328'' and inserting ``$375,443'';
(5) in section 221(d)(4)(ii)(I) (12 U.S.C.
1715l(d)(4)(ii)(I))--
(A) by striking ``$37,843'' and inserting ``$166,509'';
(B) by striking ``$42,954'' and inserting ``$188,997'';
(C) by striking ``$51,920'' and inserting ``$228,448'';
(D) by striking ``$65,169'' and inserting ``$286,744'';
(E) by striking ``$73,846'' and inserting ``$324,922'';
(F) by striking ``$40,876'' and inserting ``$179,854'';
(G) by striking ``$46,859'' and inserting ``$206,180'';
(H) by striking ``$56,979'' and inserting ``$250,708'';
(I) by striking ``$73,710'' and inserting ``$324,324''; and
(J) by striking ``$80,913'' and inserting ``$356,017'';
(6) in section 231(c)(2)(A) (12 U.S.C. 1715v(c)(2)(A))--
(A) by striking ``$35,978'' and inserting ``$166,509'';
(B) by striking ``$40,220'' and inserting ``$188,997'';
(C) by striking ``$48,029'' and inserting ``$228,448'';
(D) by striking ``$57,798'' and inserting ``$286,744'';
(E) by striking ``$67,950'' and inserting ``$324,922'';
(F) by striking ``$40,876'' and inserting ``$179,854'';
(G) by striking ``$46,859'' and inserting ``$206,180'';
(H) by striking ``$56,979'' and inserting ``$250,708'';
(I) by striking ``$73,710'' and inserting ``$324,324''; and
(J) by striking ``$80,913'' and inserting ``$356,017''; and
(7) in section 234(e)(3)(A) (12 U.S.C. 1715y(e)(3)(A))--
(A) by striking ``$42,048'' and inserting ``$185,011'';
(B) by striking ``$48,481'' and inserting ``$213,316'';
(C) by striking ``$58,469'' and inserting ``$257,263'';
(D) by striking ``$74,840'' and inserting ``$329,296'';
(E) by striking ``$83,375'' and inserting ``$366,850'';
(F) by striking ``$44,250'' and inserting ``$194,700'';
(G) by striking ``$50,724'' and inserting ``$223,186'';
(H) by striking ``$61,680'' and inserting ``$271,392'';
(I) by striking ``$79,793'' and inserting ``$351,089''; and
(J) by striking ``$87,588'' and inserting ``$385,387''.
(b) Rule of Construction.--Nothing in this section or the
amendments made by this section may be construed to limit the
authority of the Secretary of Housing and Urban Development
to revise the statutory exceptions for high-cost percentage
and high-cost areas annual indexing.
(c) Multifamily Loan Limit Study.--The Commissioner of the
Federal Housing Administration, in consultation with the
Secretary of Housing and Urban Development, shall conduct a
study to assess the following in comparison to the loan
limits prior to the amendments made under this section:
(1) Whether the Commissioner has sufficient authority to
increase loan limits for each multifamily mortgage insurance
program at appropriate amounts, including to meet market
demand.
(2) The impacts that multifamily loan limit increases have
had, if any, on--
(A) the General Insurance and Special Risk Insurance Fund;
(B) the change in volume of multifamily purchase and
construction lending that is insured by the Federal Housing
Administration; and
(C) subject to the availability of data, the year-over-year
change over the last 6 years in--
(i) median and average lending costs as well as rent and
house prices within the multifamily housing market; and
(ii) multifamily housing supply, including the number of
building permits issued as well as housing unit starts and
completions.
(d) Report.--Not later than 3 years after the date of
enactment of this Act, the Commissioner of the Federal
Housing Administration shall submit to Congress a report
summarizing the findings of the Commissioner for the study
conducted under subsection (b).
SEC. 212. 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; 125
Stat. 673) is amended--
(1) in the second proviso, by striking ``until September
30, 2029'' and inserting ``for fiscal year 2012 and each
fiscal year thereafter'';
(2) in the fourth proviso, by striking ``455,000'' and
inserting ``555,000'';
(3) in the twentieth proviso, as so designated before the
date of enactment of this Act, by striking ``or other
means:'' and inserting ``or other means, including the
adoption of a mandatory tenant lease and management plan
addendum for a property with assistance converted, if not
otherwise covered by another program, under this
demonstration:''; and
(4) by striking ``vouchers to project-based vouchers.'' and
inserting ``vouchers to project-based vouchers: Provided
further, That the Secretary shall annually assess and publish
findings regarding the impact of the conversion of assistance
under the First Component of the demonstration with respect
to the preservation and improvement of public housing, the
amount of private sector leveraging resulting from such
conversion transactions, the prevalence of pre-conversion
residents remaining in or returning to the property following
conversion, and the effect of such conversion on tenants,
including the impact of such conversion on the rights
maintained by tenants as enumerated in regulations and other
documents conferring rights upon tenants as developed by the
Secretary, and other matters the Secretary may determine
appropriate: Provided further, That the Secretary may take
remediative action or impose civil money penalties or other
administrative sanctions for material violations of a
requirement under the First and Second Components of this
demonstration: Provided further, That nothing in the matter
under this heading shall be construed to diminish, impair, or
otherwise negatively affect the Rental Assistance
Demonstration property rights of owners or rights of tenants,
which shall remain enforceable by tenants, as enumerated in
current law, regulations, and other agency guidance or
notices as it relates to properties converted under the First
and Second Components of the Rental Assistance Demonstration
Program; Provided further, That any property owned by the
public housing agency shall be used to replace, create,
preserve, improve, or expand affordable housing supply,
including as part of mixed use developments, and no
conversion under the Rental Assistance Demonstration shall be
used for sporting, private, or for-profit purposes, excluding
those which maintain or expand housing supply which may use
[[Page H4162]]
an affordable housing tax credit or other housing
affordability program.''.
SEC. 213. BUILD NOW ACT.
(a) Definitions.--In this section:
(1) Covered recipient.--The term ``covered recipient''
means a metropolitan city or urban county, as those terms are
defined in section 102 of the Housing and Community
Development Act of 1974 (42 U.S.C. 5302), that receives funds
under section 106.
(2) Current annual growth rate.--The term ``current annual
growth rate'', with respect to an eligible recipient and a
fiscal year, means the average annual percentage increase in
the number of housing units in the jurisdiction of the
eligible recipient, as calculated by the Secretary, during
the period--
(A) beginning with the third quarter of the sixth preceding
fiscal year; and
(B) ending with the third quarter of the preceding fiscal
year.
(3) Eligible recipient.--The term ``eligible recipient''
means any covered recipient unless--
(A)(i) the median Small Area Fair Market Rent in the
jurisdiction of the covered recipient is at or below the 60th
percentile of median Small Area Fair Market Rents in the
jurisdictions of all covered recipients; and
(ii) the median home value in the jurisdiction of the
covered recipient is below the median home value for the
United States;
(B) the annual rental vacancy rate in the jurisdiction of
the covered recipient is greater than the national annual
rental vacancy rate for the most recent year available, as
published by the Bureau of the Census;
(C) during the 3-year period preceding the date on which
the Secretary allocates funds under section 106, the
jurisdiction of the covered recipient has been the subject of
a major disaster or emergency declaration under section 401
or 501, respectively, of the Robert T. Stafford Disaster
Relief and Emergency Assistance Act (42 U.S.C. 5170, 5191);
or
(D) the covered recipient lacks the legal authority to
enact or update zoning and permitting ordinances.
(4) Extremely high-growth recipient.--The term ``extremely
high-growth recipient'' means an eligible recipient for which
the current annual growth rate is at or above 4 percent.
(5) Housing growth improvement rate.--The term ``housing
growth improvement rate'', with respect to an eligible
recipient and a fiscal year, means the quotient of--
(A)(i) the current annual growth rate of the eligible
recipient, minus
(ii) the prior annual growth rate of the eligible
recipient; and
(B) the sum obtained by adding the absolute values of the
current annual growth rate and the prior annual growth rate
of the eligible recipient.
(6) Prior annual growth rate.--The term ``prior annual
growth rate'', with respect to an eligible recipient and a
fiscal year, means the average annual percentage increase in
the number of housing units in the jurisdiction of the
eligible recipient, as calculated by the Secretary, during
the period--
(A) beginning with the third quarter of the 11th preceding
fiscal year; and
(B) ending with the third quarter of the sixth preceding
fiscal year.
(7) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(8) Section 106.--The term ``section 106'' means section
106 of the Housing and Community Development Act of 1974 (42
U.S.C. 5306).
(b) Adjustments to Community Development Block Grant
Allocations.--
(1) In general.--In allocating amounts to an eligible
recipient under section 106 for a fiscal year, the Secretary
shall adjust the allocation based on the housing growth
improvement rate of the eligible recipient, in accordance
with paragraph (2) of this subsection.
(2) Adjustments.--
(A) Housing growth improvement rate at or above median;
extremely high-growth recipients.--
(i) In general.--If, with respect to a fiscal year for
which the allocation under section 106 is being determined,
the housing growth improvement rate for an eligible recipient
is at or above the median housing growth improvement rate for
all eligible recipients other than extremely high-growth
recipients, or if an eligible recipient is an extremely high-
growth recipient, the Secretary shall allocate to the
eligible recipient for that fiscal year, in addition to the
amount that would otherwise be allocated to the eligible
recipient under section 106, a bonus amount, as determined
under clause (ii) of this subparagraph.
(ii) Bonus amount.--For purposes of clause (i), the bonus
amount for an eligible recipient for a fiscal year shall be
equal to the product of--
(I) the aggregate amount by which allocations to eligible
recipients are decreased under subparagraph (B) for that
fiscal year; and
(II) the quotient of--
(aa) the difference in the number of housing units, between
the third quarter of the second preceding fiscal year and the
third quarter of the preceding fiscal year, in the
jurisdiction of the eligible recipient, as calculated by the
Secretary; and
(bb) the difference in the number of housing units, between
the third quarter of the second preceding fiscal year and the
third quarter of the preceding fiscal year, in the
jurisdictions of all eligible recipients that receive a bonus
amount under this paragraph, as calculated by the Secretary.
(B) Housing growth improvement rate below median.--If, with
respect to a fiscal year for which the allocation under
section 106 is being determined, the housing growth
improvement rate for an eligible recipient is below the
median housing growth improvement rate for all eligible
recipients other than high-growth outliers, the Secretary
shall decrease the amount that would otherwise be allocated
to the eligible recipient under section 106 for that fiscal
year by 10 percent.
(c) Calculation of Housing Units.--
(1) Housing and urban development requirements.--In
calculating the number of housing units in the jurisdiction
of an eligible recipient under any provision of this section,
the Secretary shall--
(A) use the Current Address Count Listing Files and other
data products, as needed, of the Bureau of the Census
tabulated from the Master Address File; and
(B) make calculations at the block level, using boundaries
that reflect the most current boundaries.
(2) Census bureau and postal service requirements.--The
Bureau of the Census and the United States Postal Service
shall provide any relevant data to the Secretary upon request
to assist the Secretary in making a calculation described in
paragraph (1).
(3) Adjustment of calculation periods.--The Secretary may
adjust the calculation periods under subparagraphs (A) and
(B) of subsection (a)(2), subparagraphs (A) and (B) of
subsection (a)(6), and items (aa) and (bb) of subsection
(b)(2)(A)(ii)(II) by not more than 2 months to achieve
alignment with the data provided by the Bureau of the Census.
(d) Annual Report on Housing Growth Improvement Rate.--
Before allocating funds under section 106 for a fiscal year,
the Secretary shall publish a report that--
(1) includes the housing growth improvement rate for each
eligible recipient; and
(2) lists, for the most recent fiscal year for which
allocations were made under section 106--
(A) the eligible recipients that received a bonus amount
under subsection (b)(2)(A); and
(B) the eligible recipients for which the allocation under
section 106 was decreased under subsection (b)(2)(B) of this
section.
(e) Notification; Implementation Dates.--
(1) Notification.--
(A) In general.--Not later than 60 days after the date of
enactment of this Act, the Secretary shall notify each
eligible recipient of the recipient's housing growth
improvement rate and whether that housing growth improvement
rate is above, at, or below the median housing growth
improvement rate for all eligible recipients other than
extremely high-growth recipients.
(B) Guidance.--As part of the notification under
subparagraph (A), the Secretary shall share guidance,
including resources developed by the Department of Housing
and Urban Development, on best practices and recommendations
for policies to reduce regulatory barriers to housing and
increase housing supply.
(2) Implementation dates.--Subsection (b) shall take effect
beginning with the third full fiscal year after the date of
enactment of this Act and remain in effect through fiscal
year 2043.
(3) No effect on previous appropriations.--This section
shall not apply to amounts appropriated before the date of
enactment of this Act.
TITLE III--MANUFACTURED HOUSING FOR AMERICA
SEC. 301. HOUSING SUPPLY EXPANSION ACT.
(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) Standards for Manufactured Homes Built Without a
Permanent Chassis.--Section 604(a) of the National
Manufactured Housing Construction and Safety Standards Act of
1974 (42 U.S.C. 5403(a)) is amended by adding the following:
``(7) Standards for manufactured homes built without a
permanent chassis.--
``(A) In general.--The Secretary, in consultation with the
consensus committee, shall issue revised standards for
manufactured homes built without a permanent chassis using
the process described in paragraph (4).
``(B) Creating final standards.--The Secretary shall, after
consulting and conferring with the consensus committee,
establish standards to ensure that manufactured homes without
a permanent chassis have--
``(i) a distinct label, with revenue generated to be
deposited into the Manufactured Housing Fees Trust Fund
established under section 620(e)(1), to be issued by the
Secretary distinguishing manufactured home built without a
permanent chassis from manufactured homes built on a
permanent chassis;
``(ii) a data plate, as described in section 3280.5 of
title 24, Code of Federal Regulations (or any successor
regulation), distinguishing manufactured homes built without
a permanent chassis from manufactured homes built on a
permanent chassis; and
``(iii) a notation on any invoice produced by the
manufacturer of a manufactured home that is distinguishable
from the invoice for a manufactured home constructed with a
permanent chassis.''.
(c) 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 21st
Century ROAD to Housing Act, a State shall submit to the
Secretary an initial certification that the laws and
regulations of the State--
``(i) treat any manufactured home in parity with a
manufactured home (as defined and regulated by the State);
and
[[Page H4163]]
``(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, including
with respect to financing, title, insurance, manufacture,
sale, taxes, transportation, installation, and other areas as
the Secretary determines, after consultation with and
approval by the consensus committee, are necessary to give
effect to the purpose of this section.
``(B) State plan submission.--Any State plan submitted
under section 623(b) shall contain the required State
certification under subparagraph (A) and, if contained
therein, no additional or State certification under
subparagraph (A) or paragraph (3).
``(C) 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 21st Century ROAD to Housing Act.
``(D) Late certification.--
``(i) No waiver.--The Secretary may not waive the
prohibition described in paragraph (5)(B) with respect to a
certification submitted after the deadline under subparagraph
(A) or paragraph (3) unless the Secretary approves the late
certification.
``(ii) Rule of construction.--Nothing in this subsection
shall be construed to prevent a State from submitting the
initial certification required under subparagraph (A) after
the required deadline under that subparagraph.
``(2) Form of state certification not presented in a state
plan.--The initial certification required under paragraph
(1)(A), if not submitted with a State plan under paragraph
(1)(B), 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 regulations 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, a State shall submit
to the Secretary an additional certification that--
``(A) confirms the accuracy of the initial certification
submitted under subparagraph (A) or (B) of paragraph (1); and
``(B) certifies that any new laws or regulations enacted or
adopted by the State since the date of the previous
certification do 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 21st
Century ROAD to Housing Act.
``(B) Building, installation, and sale.--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.''.
(d) Other Federal Laws Regulating Manufactured Homes.--
(1) In general.--The Secretary of Housing and Urban
Development may 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 603
of the National Manufactured Housing Construction and Safety
Standards Act of 1974 (42 U.S.C. 5402), as amended by this
Act).
(2) Energy efficiency standards.--
(A) Manufactured home defined.--In this paragraph, the term
``manufactured home'' has the meaning given the term in
section 603 of the National Manufactured Housing Construction
and Safety Standards Act of 1974 (42 U.S.C. 5402), as amended
by this Act.
(B) Process.--No energy efficiency standards for
manufactured homes developed by any Federal agency shall have
legal effect unless and until adopted by the Department of
Housing and Urban Development pursuant to the consensus
standards and regulatory development process described in
section 604(a)(2) of the National Manufactured Housing
Construction and Safety Standards Act of 1974 (42 U.S.C.
5403(a)(2)).
(C) Minimum standards.--The Secretary of Housing and Urban
Development shall--
(i) not later than 1 year after the date of enactment of
this Act, adopt minimum energy efficiency standards for
manufactured homes; and
(ii) not less frequently than once every 3 years after
adopting the standards under clause (i), update those
standards.
(e) 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).''.
(f) Preemption.--Nothing in this section or the amendments
made by this section may be construed as limiting the scope
of Federal preemption under section 604(d) of the National
Manufactured Housing Construction and Safety Standards Act of
1974 (42 U.S.C. 5403(d)).
SEC. 302. MODULAR HOUSING PRODUCTION ACT.
(a) Definitions.--In this section:
(1) Manufactured home.--The term ``manufactured home'' has
the meaning given the term in section 603 of the National
Manufactured Housing Construction and Safety Standards Act of
1974 (42 U.S.C. 5402).
(2) Modular home.--The term ``modular home'' means a home
that is constructed in a factory in 1 or more modules, each
of which meets applicable State and local building codes of
the area in which the home will be located, and that are
transported to the home building site, installed on
foundations, and completed.
(3) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(b) FHA Construction Financing Programs.--
(1) In general.--The Secretary shall conduct a review of
Federal Housing Administration construction financing
programs to identify barriers to the use of modular home
methods.
(2) Requirements.--In conducting the review under paragraph
(1), the Secretary shall--
(A) identify and evaluate regulatory and programmatic
features that restrict participation in construction
financing programs by modular home developers, including
construction draw schedules; and
(B) identify administrative measures authorized under
section 525 of the National Housing Act (12 U.S.C. 1735f-3)
to facilitate program utilization by modular home developers.
(3) Report.--Not later than 1 year after the date of
enactment of this Act, the Secretary shall publish a report
that describes the results of the review conducted under
paragraph (1), which shall include a description of
programmatic and policy changes that the Secretary recommends
to reduce or eliminate identified barriers to the use of
modular home methods in Federal Housing Administration
construction financing programs.
(4) Rulemaking.--
(A) In general.--Not later than 120 days after the date on
which the Secretary publishes the report under paragraph (3),
the Secretary shall initiate a rulemaking to examine an
alternative draw schedule for construction financing loans
provided to modular and manufactured home developers, which
shall include the ability for interested stakeholders to
provide robust public comment.
(B) Determination.--Following the period for public comment
under subparagraph (A), the Secretary shall--
(i) issue a final rule regarding an alternative draw
schedule described in subparagraph (A); or
(ii) provide an explanation as to why the rule shall not
become final.
(c) Standardized Uniform Commercial Code for Modular
Homes.--The Secretary may award a grant to study the design
and feasibility of a standardized uniform commercial code for
modular homes, which shall evaluate--
(1) the utility of a standardized coding system for
serializing and securing modules, streamlining design and
construction, and improving modular home innovation; and
(2) a means to coordinate a standardized code with
financing incentives.
SEC. 303. PROPERTY IMPROVEMENT AND MANUFACTURED HOUSING LOAN
MODERNIZATION ACT.
(a) National Housing Act Amendments.--
(1) In general.--Section 2 of the National Housing Act (12
U.S.C. 1703) is amended--
(A) in subsection (a), by inserting ``construction of
additional or accessory dwelling units, as defined by the
Secretary,'' after ``energy conserving improvements,''; and
(B) in subsection (b)--
(i) in paragraph (1)--
(I) by striking subparagraph (A) and inserting the
following:
``(A) $75,000 if made for the purpose of financing
alterations, repairs, and improvements upon or in connection
with an existing single-family structure, including a
manufactured home;'';
(II) in subparagraph (B)--
(aa) by striking ``$60,000'' and inserting ``$150,000'';
(bb) by striking ``$12,000'' and inserting ``$37,500''; and
(cc) by striking ``an apartment house or'';
(III) by striking subparagraphs (C) and (D) and inserting
the following:
``(C)(i) $106,405 if made for the purpose of financing the
purchase of a single-section manufactured home; and
``(ii) $195,322 if made for the purpose of financing the
purchase of a multi-section manufactured home;
``(D)(i) $149,782 if made for the purpose of financing the
purchase of a single-section manufactured home and a suitably
developed lot on which to place the home; and
``(ii) $238,699 if made for the purpose of financing the
purchase of a multi-section manufactured home and a suitably
developed lot on which to place the home;'';
[[Page H4164]]
(IV) in subparagraph (E)--
(aa) by striking ``$23,226'' and inserting ``$43,377''; and
(bb) by striking the period at the end and inserting a
semicolon;
(V) in subparagraph (F), by striking ``and'' at the end;
(VI) in subparagraph (G), by striking the period at the end
and inserting ``; and''; and
(VII) by inserting after subparagraph (G) the following:
``(H) such principal amount as the Secretary may prescribe
if made for the purpose of financing the construction of an
accessory dwelling unit.'';
(ii) in the matter immediately preceding paragraph (2)--
(I) by striking ``regulation'' and inserting ``notice'';
(II) by striking ``increase'' and inserting ``set'';
(III) by striking ``(A)(ii), (C), (D), and (E)'' and
inserting ``(A) through (H)'';
(IV) by inserting ``, or as necessary to achieve the goals
of the Federal Housing Administration, periodically reset the
dollar amount limitations in subparagraphs (A) through (H)
based on justification and methodology set forth in advance
by regulation'' before the period at the end; and
(V) by adjusting the margins appropriately;
(iii) in paragraph (3), by striking ``exceeds--'' and all
that follows through the period at the end and inserting
``exceeds such period of time as determined by the Secretary,
not to exceed 30 years.'';
(iv) by striking paragraph (9) and inserting the following:
``(9) Annual indexing of certain dollar amount
limitations.--The Secretary shall develop or choose 1 or more
methods of indexing in order to annually set the loan limits
established in paragraph (1), based on data the Secretary
determines is appropriate for purposes of this section.'';
and
(v) in paragraph (11), by striking ``lease--'' and all that
follows through the period at the end and inserting ``lease
meets the terms and conditions established by the
Secretary''.
(2) Deadline for development or choice of new index;
interim index.--
(A) Deadline for development or choice of new index.--Not
later than 1 year after the date of enactment of this Act,
the Secretary of Housing and Urban Development shall develop
or choose 1 or more methods of indexing as required under
section 2(b)(9) of the National Housing Act (12 U.S.C.
1703(b)(9)), as amended by paragraph (1) of this subsection.
(B) Interim index.--During the period beginning on the date
of enactment of this Act and ending on the date on which the
Secretary of Housing and Urban Development develops or
chooses 1 or more methods of indexing as required under
section 2(b)(9) of the National Housing Act (12 U.S.C.
1703(b)(9)), as amended by paragraph (1) of this subsection,
the method of indexing established by the Secretary under
such section 2(b)(9) before the date of enactment of this Act
shall apply.
(b) HUD Study of Offsite Construction.--
(1) Definitions.--In this subsection:
(A) Offsite construction housing.--The term ``offsite
construction housing'' includes manufactured homes and
modular homes.
(B) Manufactured home.--The term ``manufactured home''
means any home constructed in accordance with the
construction and safety standards established under the
National Manufactured Housing Construction and Safety
Standards Act of 1974 (42 U.S.C. 5401 et seq.).
(C) Modular home.--The term ``modular home'' means a home
that is constructed in a factory in 1 or more modules, each
of which meets applicable State and local building codes of
the area in which the home will be located, and that are
transported to the home building site, installed on
foundations, and completed.
(2) Study.--Not later than 1 year after the date of
enactment of this section, the Secretary of Housing and Urban
Development shall conduct a study and submit to Congress a
report on the cost effectiveness of offsite construction
housing that includes--
(A) an analysis of the advantages and the impact of
centralization in a factory and transportation to a
construction site on cost, precision, and materials waste;
(B) the extent to which offsite construction housing meets
housing quality standards under the National Standards for
the Physical Inspection of Real Estate, or other standards as
the Secretary may prescribe, compared to the extent for site-
built homes, for such standards;
(C) the expected replacement and maintenance costs over the
first 40 years of life of offsite construction homes compared
to those costs for site-built homes; and
(D) opportunities for use beyond single-family housing,
such as applications in accessory dwelling units, two- to
four-unit housing, and large multifamily housing.
SEC. 304. PRICE ACT.
(a) In General.--Title I of the Housing and Community
Development Act of 1974 (42 U.S.C. 5301 et seq.) is amended--
(1) in section 105(a) (42 U.S.C. 5305(a)), in the matter
preceding paragraph (1), by striking ``Activities'' and
inserting ``Unless otherwise authorized under section 123,
activities''; and
(2) by adding at the end the following:
``SEC. 123. PRESERVATION AND REINVESTMENT FOR COMMUNITY
ENHANCEMENT.
``(a) Definitions.--In this section:
``(1) Community development financial institution.--The
term `community development financial institution' means an
institution that has been certified as 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)) by the Secretary of
the Treasury.
``(2) Eligible manufactured housing community.--The term
`eligible manufactured housing community' means a
manufactured housing community that--
``(A) is affordable to low- and moderate-income persons, as
determined by the Secretary, but not more than 120 percent of
the area median income; and
``(B)(i) is owned by the residents of the manufactured
housing community through a resident-controlled entity such
as a resident-owned cooperative; or
``(ii) will be maintained as such a community, and remain
affordable for low- and moderate-income persons, to the
maximum extent practicable and for the longest period
feasible.
``(3) Eligible recipient.--The term `eligible recipient'
means--
``(A) an eligible manufactured housing community;
``(B) a unit of general local government;
``(C) a housing authority;
``(D) a resident-owned community;
``(E) a resident-owned cooperative;
``(F) a nonprofit entity with housing expertise or a
consortium of such entities;
``(G) a community development financial institution;
``(H) an Indian tribe;
``(I) a tribally designated housing entity;
``(J) the Department of Hawaiian Home Lands;
``(K) a State; or
``(L) any other entity that is--
``(i) an owner-operator of an eligible manufactured housing
community; and
``(ii) working with an eligible manufactured housing
community.
``(4) Indian tribe.--The term `Indian tribe' has the
meaning given the term `Indian tribe' in section 4 of the
Native American Housing Assistance and Self-Determination Act
of 1996 (25 U.S.C. 4103).
``(5) Manufactured housing community.--The term
`manufactured housing community' means--
``(A) any community, court, park, or other land under
unified ownership developed and accommodating, or equipped to
accommodate, the placement of manufactured homes, where--
``(i) spaces within such community are or will be primarily
used for residential occupancy;
``(ii) all homes within the community are used for
permanent occupancy; and
``(iii) a majority of such occupied spaces within the
community are occupied by manufactured homes, which may
include homes constructed prior to enactment of the
Manufactured Home Construction and Safety Standards; or
``(B) any community that meets the definition of
manufactured housing community used for programs similar to
the program under this section.
``(6) Resident health, safety, and accessibility
activities.--The term `resident health, safety, and
accessibility activities' means the reconstruction, repair,
or replacement of manufactured housing and manufactured
housing communities to--
``(A) protect the health and safety of residents;
``(B) address weatherization and reduce utility costs; or
``(C) address accessibility needs for residents with
disabilities.
``(7) Tribally designated housing entity.--The term
`tribally designated housing entity' has the meaning given
the term in section 4 of the Native American Housing
Assistance and Self-Determination Act of 1996 (25 U.S.C.
4103).
``(b) Establishment.--There is authorized a competitive
grant program that the Secretary shall, by notice, carry out
to make awards utilizing funds appropriated for such purpose
to eligible recipients to carry out eligible projects for
development of or improvements to eligible manufactured
housing communities.
``(c) Eligible Projects.--
``(1) In general.--Amounts from grants under this section
may be used for--
``(A) community infrastructure, facilities, utilities, and
other land improvements in or serving an eligible
manufactured housing community;
``(B) reconstruction or repair of existing housing within
an eligible manufactured housing community;
``(C) replacement of homes within an eligible manufactured
housing community;
``(D) planning;
``(E) resident health, safety, and accessibility activities
in homes in an eligible manufactured housing community;
``(F) land and site acquisition and infrastructure for
expansion or construction of an eligible manufactured housing
community;
``(G) resident and community services, including relocation
assistance, eviction prevention, and down payment assistance;
and
``(H) any other activity that--
``(i) is approved by the Secretary consistent with the
requirements under this section;
``(ii) improves the overall living conditions of an
eligible manufactured housing community, which may include
the addition or enhancement of shared spaces such as
community centers, recreational areas, or other facilities
that support resident well-being and community engagement;
and
``(iii) is necessary to protect the health and safety of
the residents of the eligible manufactured housing community
and the long-term affordability and sustainability of the
community.
``(2) Replacement.--For purposes of subparagraphs (B) and
(C) of paragraph (1), grants under this section--
``(A) may not be used for rehabilitation or modernization
of units that were built before June 15, 1976; and
``(B) may only be used for disposition and replacement of
units described in subparagraph (A), provided that any
replacement housing
[[Page H4165]]
complies with the Manufactured Home Construction and Safety
Standards or is another allowed type of home, as determined
by the Secretary.
``(d) Priority.--In awarding grants under this section, the
Secretary shall prioritize applicants that will carry out
activities that primarily benefit low- and moderate-income
residents and preserve long-term housing affordability for
residents of eligible manufactured housing communities.
``(e) Waivers.--The Secretary may waive or specify
alternative requirements for any provision of law or
regulation that the Secretary administers in connection with
use of amounts made available under this section other than
requirements related to fair housing, nondiscrimination,
labor standards, and the environment, upon a finding that the
waiver or alternative requirement is not inconsistent with
the overall purposes of this section and that the waiver or
alternative requirement is necessary to facilitate the use of
amounts made available under this section.
``(f) Implementation.--
``(1) In general.--Any grant made under this section shall
be made pursuant to criteria for selection of recipients of
such grants that the Secretary shall by regulation establish
and publish together with any notification of availability of
amounts under this section.
``(2) Set-aside of grant amounts.--The Secretary may set
aside amounts provided under this section for grants to
Indian tribes, tribally designated housing entities, and the
Department of Hawaiian Home Lands.
``(g) Sunset.--The program established under this section
shall terminate on the date that is 7 years after the date of
enactment of this section.''.
(b) Application.--Grants made under section 123 of the
Housing and Community Development Act of 1974, as added by
subsection (a), after the date of enactment of this Act shall
be carried out using amounts appropriated after the date of
enactment of this Act.
TITLE IV--ACCESSING THE AMERICAN DREAM
SEC. 401. CREATING INCENTIVES FOR SMALL-DOLLAR LOAN
ORIGINATORS.
(a) Definitions.--In this section:
(1) Director.--The term ``Director'' means the Director of
the Bureau of Consumer Financial Protection.
(2) Small-dollar mortgage.--The term ``small-dollar
mortgage'' means a mortgage loan having an original principal
obligation of not more than $100,000 that is--
(A) secured by real property designed for 1 to 4 dwelling
units; and
(B)(i) insured by the Federal Housing Administration under
title II of the National Housing Act (12 U.S.C. 1707 et
seq.);
(ii) made, guaranteed, or insured by the Department of
Veterans Affairs;
(iii) made, guaranteed, or insured by the Department of
Agriculture; or
(iv) eligible to be purchased or securitized by the Federal
Home Loan Mortgage Corporation or the Federal National
Mortgage Association.
(b) Requirement Regarding Loan Originator Compensation
Practices.--Not later than 270 days after the date of
enactment of this Act, the Director shall submit to the
Committee on Banking, Housing, and Urban Affairs of the
Senate and the Committee on Financial Services of the House
of Representatives a report on loan originator compensation
practices throughout the residential mortgage market,
including the relative frequency of loan originators being
compensated--
(1) with a salary;
(2) with a commission reflecting a fixed percentage of the
amount of credit extended;
(3) with a commission based on a factor other than a fixed
percentage of the amount of credit extended;
(4) with a combination of salary and commission;
(5) on a loan volume basis; and
(6) with a commission reflecting a percentage of the amount
of credit extended, for which a minimum or maximum
compensation amount is set.
(c) Community Development Financial Institution Loan
Originators.--In carrying out the report required under
subsection (b), the Secretary shall, in coordination with
relevant Federal agencies that regulate federally backed
small-dollar mortgages and in consultation with the Director
of the Community Development Financial Institutions Fund
established under section 104 of the Community Development
Banking and Financial Institutions Act of 1994 (12 U.S.C.
4703), give due consideration to the practices for
compensating loan originators that are employed by or
originate loans on behalf of community development financial
institutions.
(d) Contents.--The report required under subsection (b)
shall include--
(1) data and other analyses regarding the effect of the
approaches to loan originator compensation described in
subsection (b) on the availability of small-dollar mortgage
loans; and
(2) an analysis and a discussion regarding potential
barriers to small-dollar mortgage lending.
SEC. 402. SMALL-DOLLAR MORTGAGE POINTS AND FEES.
(a) Small-dollar Mortgage Defined.--In this section, the
term ``small-dollar mortgage'' means a mortgage with an
original principal obligation of less than $100,000.
(b) Amendments.--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 evaluate the impact of the
thresholds under section 1026.43 of title 12, Code of Federal
Regulations (as in effect on the date of enactment of this
Act), on small-dollar mortgage originations.
SEC. 403. APPRAISAL INDUSTRY IMPROVEMENT ACT.
(a) Appraisal Standards.--
(1) Certification or licensing.--
(A) In general.--Section 202(g)(5) of the National Housing
Act (12 U.S.C. 1708(g)(5)) is amended--
(i) by moving the paragraph two ems to the left; and
(ii) by striking subparagraphs (A) and (B) and inserting
the following:
``(A) be certified or licensed by the State in which the
property to be appraised is located, except that a Federal
employee who has as their primary duty conducting appraisal-
related activities and who chooses to become a State-licensed
or certified real estate appraiser need only to be licensed
or certified in 1 State or territory to perform appraisals on
mortgages insured by the Federal Housing Administration in
all States and territories;
``(B) meet the requirements under the competency rule set
forth in the Uniform Standards of Professional Appraisal
Practice before accepting an assignment; and
``(C) have demonstrated verifiable education in the
appraisal requirements established by the Federal Housing
Administration under this subsection, which shall include the
completion of a course or seminar that educates appraisers on
those appraisal requirements, which shall be provided by--
``(i) the Federal Housing Administration; or
``(ii) a third party, if the course is approved by the
Secretary or a State appraiser certifying or licensing
agency.''.
(B) Application.--Subparagraph (C) of section 202(g)(5) of
the National Housing Act (12 U.S.C. 1708(g)(5)), as added by
subparagraph (A), shall not apply with respect to any
certified appraiser approved by the Federal Housing
Administration to conduct appraisals on property securing a
mortgage to be insured by the Federal Housing Administration
on or before the effective date described in paragraph
(3)(C).
(2) Compliance with verifiable education and competency
requirements.--On and after the effective date described in
paragraph (3)(C), no appraiser may conduct an appraisal on a
property securing a mortgage to be insured by the Federal
Housing Administration unless--
(A) the appraiser is in compliance with the requirements of
subparagraphs (A) and (B) of section 202(g)(5) of the
National Housing Act (12 U.S.C. 1708(g)(5)), as amended by
paragraph (1); and
(B) if the appraiser was not approved by the Federal
Housing Administration to conduct appraisals on mortgages
insured by the Federal Housing Administration before the date
on which the mortgagee letter or guidance takes effect under
paragraph (3)(C), the appraiser is in compliance with
subparagraph (C) of such section 202(g)(5).
(3) Implementation.--Not later than the 240 days after the
date of enactment of this Act, the Secretary of Housing and
Urban Development shall issue a mortgagee letter or guidance
that--
(A) implements the amendments made by paragraph (1);
(B) clearly sets forth all of the specific requirements
under section 202(g)(5) of the National Housing Act (12
U.S.C. 1708(g)(5)), as amended by paragraph (1), for approval
to conduct appraisals on property secured by a mortgage to be
insured by the Federal Housing Administration, which shall
include--
(i) providing that, before the effective date of the
mortgagee letter or guidance, compliance with the
requirements under subparagraphs (A), (B), and (C) of such
section 202(g)(5), as amended by paragraph (1), shall be
considered to fulfill the requirements under such
subparagraphs; and
(ii) providing a method for appraisers to demonstrate such
prior compliance; and
(C) takes effect not later than the date that is 180 days
after the date on which the Secretary issues the mortgagee
letter or guidance.
(b) Annual Registry Fees for Appraisal Management
Companies.--Section 1109(a) of the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C.
3338(a)) is amended, in the matter following clause (ii) of
paragraph (4)(B), by adding at the end the following:
``Subject to the approval of the Council, the Appraisal
Subcommittee may adjust fees established under clause (i) or
(ii) to carry out its functions under this Act.''.
(c) State Credentialed Trainees.--
(1) Maintenance on national registry.--Section 1103(a) of
the Financial Institutions Reform, Recovery, and Enforcement
Act of 1989 (12 U.S.C. 3332(a)) is amended--
(A) in paragraph (3)--
(i) by inserting ``and State credentialed trainee
appraisers'' after ``licensed appraisers''; and
(ii) by striking ``and'' at the end;
(B) by striking paragraph (4);
(C) by redesignating paragraphs (5) and (6) as paragraphs
(4) and (5), respectively; and
(D) in paragraph (4), as so redesignated--
(i) by striking ``year. The report shall also detail'' and
inserting ``year, detailing'';
(ii) by striking ``provide'' and inserting ``provides'';
and
(iii) by striking the period at the end and inserting ``;
and''.
(2) Annual registry fees.--
(A) In general.--Section 1109 of the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C.
3338) is amended--
(i) in the section heading, by striking ``certified or
licensed'' and inserting ``, certified, licensed, and
credentialed trainee''; and
(ii) in subsection (a)--
(I) in paragraph (1), by inserting ``, and in the case of a
State with a supervisory or trainee program, a roster listing
individuals who have
[[Page H4166]]
received a State trainee credential'' after ``this title'';
and
(II) by striking paragraph (2) and inserting the following:
``(2) transmit reports on the issuance and renewal of
licenses, certifications, credentials, sanctions, and
disciplinary actions, including license, credential, and
certification revocations, on a timely basis to the national
registry of the Appraisal Subcommittee;''.
(B) Rule of construction.--Nothing in the amendments made
by subparagraph (A) shall require a State to establish or
operate a program for State credentialed trainee appraisers,
as defined in paragraph (12) of section 1121 of the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989,
as added by paragraph (4) of this subsection.
(3) Transactions requiring the services of a state
certified appraiser.--Section 1113 of the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989
(12 U.S.C. 3342) is amended--
(A) by striking ``In determining'' and inserting ``(a) In
General.--In determining''; and
(B) by adding at the end the following:
``(b) Use of State Credentialed Trainee Appraisers.--In
performing an appraisal under this section, a State certified
appraiser may use the assistance of a State credentialed
trainee appraiser or an unlicensed trainee appraiser, except
that the State certified appraiser assisted by a trainee
shall be liable for appraisal and valuation work.''.
(4) Definition.--Section 1121 of the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C.
3350) is amended by adding at the end the following:
``(12) State credentialed trainee appraiser.--The term
`State credentialed trainee appraiser' means an individual
who--
``(A) meets the minimum criteria established by the
Appraiser Qualification Board for a trainee appraiser
credential; and
``(B) is credentialed by a State appraiser certifying and
licensing agency.''.
(d) Grants for Workforce and Training.--Section 1109(b) of
the Financial Institutions Reform, Recovery, and Enforcement
Act of 1989 (12 U.S.C. 3338(b)) is amended--
(1) in paragraph (5)(B), by striking ``and'' at the end;
(2) in paragraph (6), by striking the period at the end and
inserting ``; and''; and
(3) by adding at the end the following:
``(7) to make grants to State appraiser certifying and
licensing agencies and post-secondary institutions, including
trade and polytechnic schools, to support the carrying out of
education and training activities or other activities related
to addressing appraiser industry workforce needs, including
recruiting and retaining workforce talent, such as through
scholarship assistance and career pipeline development, and
such agencies shall report on the use of funds and
outcomes.''.
(e) Appraisal Subcommittee.--Section 1011 of the Federal
Financial Institutions Examination Council Act of 1978 (12
U.S.C. 3310) is amended, in the first sentence, by inserting
``the Department of Veterans Affairs, the Rural Housing
Service of the Department of Agriculture, the Department of
Housing and Urban Development,'' after ``Financial
Protection,''.
SEC. 404. HELPING MORE FAMILIES SAVE ACT.
Section 23 of the United States Housing Act of 1937 (42
U.S.C. 1437u) is amended by adding at the end the following:
``(p) Escrow Expansion Pilot Program.--
``(1) Definitions.--In this subsection:
``(A) Covered family.--The term `covered family' means a
family that receives assistance under section 8 or 9 of this
Act and is enrolled in the Pilot Program.
``(B) Eligible entity.--The term `eligible entity' means an
entity described in subsection (c)(2).
``(C) Pilot program.--The term `Pilot Program' means the
Pilot Program established under paragraph (2).
``(D) Welfare assistance.--The term `welfare assistance'
has the meaning given the term in section 984.103 of title
24, Code of Federal Regulations, or any successor regulation.
``(2) Establishment.--The Secretary may establish a pilot
program under which the Secretary shall select not more than
25 eligible entities to establish and manage escrow accounts
for not more than 5,000 covered families, in accordance with
this subsection.
``(3) Escrow accounts.--
``(A) In general.--An eligible entity selected to
participate in the Pilot Program--
``(i) shall establish an interest-bearing escrow account
and place into the account an amount equal to any increase in
the amount of rent paid by each covered family in accordance
with the provisions of section 3, 8(o), or 8(y), as
applicable, that is attributable to increases in earned
income by the covered families during the participation of
each covered family in the Pilot Program; and
``(ii) notwithstanding any other provision of law, may use
funds it controls under section 8 or 9 for purposes of making
the escrow deposit for covered families assisted under, or
residing in units assisted under, section 8 or 9,
respectively, provided such funds are offset by the increase
in the amount of rent paid by the covered family.
``(B) Income limitation.--An eligible entity may not escrow
any amounts for any covered family whose adjusted income
exceeds 80 percent of the area median income at the time of
enrollment.
``(C) Withdrawals.--A covered family may withdraw funds,
including interest earned, from an escrow account established
by an eligible entity under the Pilot Program--
``(i) after the covered family ceases to receive welfare
assistance; and
``(ii)(I) not earlier than the date that is 5 years after
the date on which the eligible entity establishes the escrow
account under this subsection;
``(II) not later than the date that is 7 years after the
date on which the eligible entity establishes the escrow
account under this subsection, if the covered family chooses
to continue to participate in the Pilot Program after the
date that is 5 years after the date on which the eligible
entity establishes the escrow account;
``(III) on the date the covered family ceases to receive
housing assistance under section 8 or 9, if such date is
earlier than 5 years after the date on which the eligible
entity establishes the escrow account;
``(IV) earlier than 5 years after the date on which the
eligible entity establishes the escrow account, if the
covered family is using the funds to advance a self-
sufficiency goal as approved by the eligible entity;
``(V) for any reason listed under section 984.303(k) of
title 24, Code of Federal Regulations; or
``(VI) under other circumstances in which the Secretary
determines an exemption for good cause is warranted.
``(D) Interim recertification.--For purposes of the Pilot
Program, a covered family may recertify the income of the
covered family multiple times per year at the request of the
participating family, as determined by the Secretary, and not
less frequently than once per year, unless the eligible
entity has established an alternative rent structure with
approval from the Secretary.
``(E) Contract or plan.--A covered family is not required
to complete a standard contract of participation or an
individual training and services plan in order to participate
in the Pilot Program.
``(4) Effect of increases in family income.--Any increase
in the earned income of a covered family during the
enrollment of the family in the Pilot Program may not be
considered as income or a resource for purposes of
eligibility of the family for other benefits, or amount of
benefits payable to the family, under any program
administered by the Secretary.
``(5) Application.--
``(A) In general.--An eligible entity seeking to
participate in the Pilot Program shall submit to the
Secretary an application--
``(i) at such time, in such manner, and containing such
information as the Secretary may require by notice; and
``(ii) that includes the number of proposed covered
families to be served by the eligible entity under this
subsection.
``(B) Geographic and entity variety.--The Secretary shall
ensure that eligible entities selected to participate in the
Pilot Program--
``(i) are located across various States and in both urban
and rural areas; and
``(ii) vary by size and type, including both public housing
agencies and private owners of projects receiving project-
based rental assistance under section 8.
``(6) Notification and opt-out.--An eligible entity
participating in the Pilot Program shall--
``(A) notify covered families of their enrollment in the
Pilot Program;
``(B) provide covered families with a detailed description
of the Pilot Program, including how the Pilot Program will
impact their rent and finances;
``(C) inform covered families that the families cannot
simultaneously participate in the Pilot Program and the
Family Self-Sufficiency program under this section; and
``(D) provide covered families with the ability to elect
not to participate in the Pilot Program--
``(i) not less than 2 weeks before the date on which the
escrow account is established under paragraph (3); and
``(ii) at any point during the duration of the Pilot
Program.
``(7) Maximum rents.--During the term of participation by a
covered family in the Pilot Program, the amount of rent paid
by the covered family shall be calculated under the rental
provisions of section 3 or 8(o), as applicable.
``(8) Pilot program timeline.--
``(A) Awards.--Not later than 1 year after establishing the
Pilot Program, the Secretary shall select the eligible
entities to participate in the Pilot Program.
``(B) Establishment and term of accounts.--An eligible
entity selected to participate in the Pilot Program shall--
``(i) not later than 6 months after selection, establish
escrow accounts under paragraph (3) for covered families; and
``(ii) maintain those escrow accounts for not less than 5
years, or until a determination is made for termination with
FSS escrow disbursement under section 984.303(k) of title 24,
Code of Federal Regulations, or until the date the family
ceases to receive assistance under section 8 or 9, and, at
the discretion of the covered family, not more than 7 years
after the date on which the escrow account is established.
``(9) Nonparticipation and housing assistance.--
``(A) In general.--Assistance under section 8 or 9 for a
family that elects not to participate in the Pilot Program
shall not be delayed or denied by reason of such election.
``(B) No termination.--Housing assistance may not be
terminated as a consequence of participating, or not
participating, in the Pilot Program under this subsection for
any period.
``(10) Study.--Not later than 10 years after the date the
Secretary selects eligible entities to participate in the
Pilot Program under this subsection, the Secretary shall, if
awards were made, conduct a study and submit to the Committee
on Banking, Housing, and Urban Affairs of the Senate and the
Committee on Financial Services of the House of
Representatives a report on outcomes for covered families
under the Pilot Program, which shall evaluate the
effectiveness of the Pilot Program in assisting families to
achieve economic independence and self-sufficiency, and the
impact coaching and supportive
[[Page H4167]]
services, or the lack thereof, had on individual incomes.
``(11) Waivers.--To allow selected eligible entities to
effectively administer the Pilot Program and make the
required escrow account deposits under this subsection, the
Secretary may waive requirements under this section.
``(12) Termination.--The Pilot Program under this
subsection shall terminate on the date that is 10 years after
the date of enactment of this subsection.
``(13) Eligible uses of appropriations.--Subject to the
appropriation of funds, the Secretary may use funds--
``(A) for technical assistance related to implementation of
the Pilot Program; and
``(B) to carry out an evaluation of the Pilot Program under
paragraph (10).''.
SEC. 405. CHOICE IN AFFORDABLE HOUSING ACT.
(a) Satisfaction of Inspection Requirements Through
Participation in Other Housing Programs.--Section 8(o)(8) of
the United States Housing Act of 1937 (42 U.S.C. 1437f(o)(8))
is amended by adding at the end the following:
``(I) Satisfaction of inspection requirements through
participation in other housing programs.--
``(i) Low-income housing tax credit-financed buildings.--A
dwelling unit shall be deemed to meet the inspection
requirements under this paragraph if--
``(I) the dwelling unit is in a building, the acquisition,
rehabilitation, or construction of which was done by a
building owner who may be eligible for low-income housing
credits because the building had been allocated a housing
credit dollar amount under section 42(h) of the Internal
Revenue Code of 1986 or is described in section 42(h)(4) of
such Code (concerning buildings that meet a criterion for a
certain amount of tax-exempt financing);
``(II) the dwelling unit, during the preceding 12-month
period, was physically inspected and satisfied the
suitability-for-occupancy requirement in section
42(i)(3)(B)(ii) of such Code; and
``(III) the applicable public housing agency performed the
inspection itself or is able to obtain the results of the
inspection described in subclause (II).
``(ii) Home investment partnerships program.--A dwelling
shall be deemed to meet the inspection requirements under
this paragraph if--
``(I) the dwelling unit is assisted under the HOME
Investment Partnerships Program under title II of the
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C.
12721 et seq.);
``(II) the dwelling unit was physically inspected and
passed inspection as part of the program described in
subclause (I) during the preceding 12-month period; and
``(III) the applicable public housing agency is able to
obtain the results of the inspection described in subclause
(II).
``(iii) Rural housing service.--A dwelling unit shall be
deemed to meet the inspection requirements under this
paragraph if--
``(I) the dwelling unit is assisted by the Rural Housing
Service of the Department of Agriculture;
``(II) the dwelling unit was physically inspected and
passed inspection in connection with the assistance described
in subclause (I) during the preceding 12-month period; and
``(III) the applicable public housing agency is able to
obtain the results of the inspection described in subclause
(II).
``(iv) Remote or video inspections.--When complying with
inspection requirements for a housing unit located in a rural
or small area using assistance under this section, the
Secretary may allow a grantee to conduct a remote or video
inspection of a unit if the remote or video inspection--
``(I) is thorough;
``(II) does not misrepresent the condition of the unit; and
``(III) provides the information necessary to fully and
accurately evaluate the conditions of the unit to ensure that
the unit meets the relevant standards.
``(v) Rule of construction.--Nothing in clause (i), (ii),
(iii), or (iv) shall be construed to affect the operation of
a housing program described in, or authorized under a
provision of law described in, that clause.''.
(b) Pre-approval of Units.--Section 8(o)(8)(A) of the
United States Housing Act of 1937 (42 U.S.C. 1437f(o)(8)(A))
is amended by adding at the end the following:
``(iv) Initial inspection prior to lease agreement.--
``(I) Definition.--In this clause, the term `new landlord'
means an owner of a dwelling unit who has not previously
entered into a housing assistance payment contract with a
public housing agency under this subsection for any dwelling
unit.
``(II) Early inspection.--Upon the request of a new
landlord, a public housing agency may inspect the dwelling
unit owned by the new landlord to determine whether the unit
meets the housing quality standards under subparagraph (B)
before the unit is selected by a tenant assisted under this
subsection.
``(III) Effect.--An inspection conducted under subclause
(II) that determines that the dwelling unit meets the housing
quality standards under subparagraph (B) shall satisfy this
subparagraph and subparagraph (C) if the new landlord enters
into a lease agreement with a tenant assisted under this
subsection not later than 60 days after the date of the
inspection.
``(IV) Information when family is selected.--When a public
housing agency selects a family to participate in the tenant-
based assistance program under this subsection, the public
housing agency shall include in the information provided to
the family a list of dwelling units that have been inspected
under subclause (II) and determined to meet the housing
quality standards under subparagraph (B).''.
TITLE V--PROGRAM REFORM
SEC. 501. HOME INVESTMENT PARTNERSHIPS REAUTHORIZATION AND
REFORM ACT.
(a) Authorization.--Section 205 of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 12724) is amended
to read as follows:
``SEC. 205. AUTHORIZATION OF PROGRAM.
``The HOME Investment Partnerships Program under subtitle A
is hereby authorized.''.
(b) Definition of Community Housing Development
Organization.--Section 104(6)(B) of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 12704(6)(B)) is
amended by striking ``significant''.
(c) Assistance for Low-income Families.--Title II of the
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C.
12721 et seq.) is amended--
(1) in section 214(2) (42 U.S.C. 12742(2)), by striking
``households that qualify as low-income families'' and
inserting ``families with a household income that does not
exceed 100 percent of the median family income of the area,
as determined by the Secretary''; and
(2) in section 271(c) (42 U.S.C. 12821(c))--
(A) in paragraph (1)(B), by striking ``low-income'' and
inserting ``families with a household income that does not
exceed 100 percent of the median family income of the area as
determined by the Secretary with adjustments for smaller and
larger families''; and
(B) in paragraph (2)(A), by striking ``low-income
families'' and inserting ``families with a household income
that does not exceed 100 percent of the median family income
of the area as determined by the Secretary with adjustments
for smaller and larger families''.
(d) Choices Made by Participating Jurisdictions.--Section
212(a)(2) of the Cranston-Gonzalez National Affordable
Housing Act (42 U.S.C. 12742(a)(2)) is amended to read as
follows:
``(2) Limitation.--The Secretary may not restrict the
choice by a participating jurisdiction of rehabilitation,
substantial rehabilitation, new construction, reconstruction,
acquisition, or other eligible housing uses authorized in
paragraph (1) unless the restriction is explicitly authorized
under section 223(2).''.
(e) Use of Amounts by Certain Jurisdictions for
Infrastructure Improvements.--
(1) In general.--Section 212(a) of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 12742(a)) is
amended by inserting after paragraph (3) the following:
``(4) Infrastructure improvements in nonentitlement
areas.--
``(A) In general.--A participating jurisdiction may use
funds provided under this subtitle for infrastructure
improvements, including the installation or repair of water
and sewer lines, sidewalks, roads, and utility connections
if--
``(i) such participating jurisdiction does not receive
assistance under title I of the Housing and Community
Development Act of 1974 (42 U.S.C. 5310); and
``(ii) such improvements are directly related to, and
located within or immediately adjacent to--
``(I) housing assisted under this subtitle; or
``(II) housing assisted under section 42 of the Internal
Revenue Code of 1986.
``(B) Application of labor standards.--The labor standards
and requirements set forth in section 110 of the Housing and
Community Development Act of 1974 (42 U.S.C. 5310) shall
apply to any infrastructure improvement conducted using funds
provided under this subtitle.
``(C) Rule of construction.--Nothing in this paragraph may
be construed to impose any requirements of the HOME
Investment Partnerships program on housing that benefits from
an infrastructure improvement conducted using funds provided
under this subtitle but was not otherwise assisted under the
HOME Investment Partnerships program.''.
(2) Rulemaking.--Not later than 1 year after the date of
enactment of this Act, the Secretary of Housing and Urban
Development shall issue rules to carry out the amendment made
by paragraph (1).
(f) Per Unit Investment Limitations.--Section 212(e)(1) of
the Cranston-Gonzalez National Affordable Housing Act (42
U.S.C. 12742(e)(1)) is amended by striking the second
sentence.
(g) Affordable Rental Housing Qualifications.--Section
215(a) of the Cranston-Gonzalez National Affordable Housing
Act (42 U.S.C. 12745(a)) is amended by adding at the end the
following:
``(7) Qualification exception.--Notwithstanding paragraph
(1)(A), a rental unit shall be considered to qualify as
affordable housing under this title if--
``(A) the unit is occupied by a tenant receiving tenant-
based rental assistance under section 8 of the United States
Housing Act of 1937 (42 U.S.C. 1437f);
``(B) the contribution of the tenant toward rent does not
exceed the amount permitted under the assistance described in
subparagraph (A); and
``(C) the total rent for the unit does not exceed the
amount approved by the public housing agency administering
the assistance described in subparagraph (A).''.
(h) Affordable Home-ownership Housing Qualifications.--
Section 215 of the Cranston-Gonzalez National Affordable
Housing Act (42 U.S.C. 12745) is amended--
(1) in subsection (b)--
(A) in paragraph (2), by redesignating subparagraphs (A),
(B), and (C) as clauses (i), (ii), and (iii), respectively,
and adjusting the margins accordingly;
(B) in paragraph (3)--
(i) in subparagraph (A), by redesignating clauses (i) and
(ii) as subclauses (I) and (II), respectively, and adjusting
the margins accordingly; and
[[Page H4168]]
(ii) by redesignating subparagraphs (A) and (B) as clauses
(i) and (ii), respectively, and adjusting the margins
accordingly;
(C) by redesignating paragraphs (1) through (4) as
subparagraphs (A) through (D), respectively, and adjusting
the margins accordingly;
(D) by striking ``Housing that is for home-ownership'' and
inserting the following:
``(1) Qualification.--Housing that is for home-ownership'';
(E) in paragraph (1), as so designated--
(i) in subparagraph (A), as so redesignated--
(I) by striking ``95 percent'' and inserting ``110
percent''; and
(II) by inserting ``(defined as the amount borrowed by the
homebuyer to purchase the home, or the estimated value after
rehabilitation, which may be adjusted to account for the
limits on future value imposed by the resale restriction)''
after ``purchase price'';
(ii) in subparagraph (B), as so redesignated, in the matter
preceding clause (i), by striking ``whose family qualifies as
a low-income family'' and inserting ``with a family income
that does not exceed 100 percent of the median family income
of the area as determined by the Secretary with adjustments
for smaller and larger families'';
(iii) in subparagraph (C), as so redesignated--
(I) in clause (i)(II)--
(aa) by striking ``low-income home-buyers'' and inserting
``home-buyers with a household income that does not exceed
100 percent of the median family income of the area, as
determined by the Secretary with adjustments for smaller and
larger families''; and
(bb) by striking ``or'' at the end;
(II) in clause (ii), by striking ``and'' at the end and
inserting ``or''; and
(III) by adding at the end the following:
``(iii) maintain long-term affordability through a shared
equity ownership model, a community land trust, a limited
equity cooperative, a community development corporation, or
other mechanism approved by the Secretary, that preserves
affordability for future eligible home-buyers and ensures
compliance with the purposes of this title, including through
the use of purchase options, rights of first refusal, or
other preemptive rights to purchase housing;'';
(iv) in subparagraph (D), as so redesignated, by striking
the period at the end and inserting ``; and''; and
(v) by adding at the end the following:
``(E) is subject to restrictions that are established by
the participating jurisdiction and determined by the
Secretary to be appropriate, including with respect to the
useful life of the property, to--
``(i) require that any subsequent purchase of the property
be--
``(I) only by a person who meets the qualifications
specified under subparagraph (B); and
``(II) 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
``(ii) 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
(F) by adding at the end the following:
``(2) Purchase by community land trust or cooperative
housing corporation.--Notwithstanding subparagraph (C)(i) of
paragraph (1) and under terms determined by the Secretary,
the Secretary may permit a participating jurisdiction to
allow a community land trust, housing cooperative, or a
community development corporation that used assistance
provided under this subtitle for the development of housing
that meets the criteria under paragraph (1), to acquire the
housing--
``(A) in accordance with the terms of the preemptive
purchase option, lease, covenant on the land, or other
similar legal instrument of the community land trust or
housing cooperative 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;
``(B) when the purchase is for--
``(i) the purpose of--
``(I) entering into the chain of title;
``(II) enabling a purchase by a person who meets the
qualifications specified under paragraph (1)(B) and is on a
waitlist maintained by the community land trust or housing
cooperative, subject to enforcement by the participating
jurisdiction of all applicable requirements of this title, as
determined by the Secretary;
``(III) performing necessary rehabilitation and
improvements; or
``(IV) adding a subsidy to preserve affordability, which
may be from Federal or non-Federal sources; or
``(ii) another purpose determined appropriate by the
Secretary; and
``(C) 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).''; and
(2) by adding at the end the following:
``(c) Qualification Exceptions for Home-ownership.--
``(1) Military members.--A participating jurisdiction, in
accordance with terms established by the Secretary, may
suspend or waive the income qualifications described in
subsection (b)(1)(B) with respect to housing that otherwise
meets the criteria described in subsection (b)(1) if the
owner of the housing--
``(A) 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 of title 10, United States Code); and
``(B) has received--
``(i) 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
``(ii) orders for a permanent change of station.
``(2) Heirs and beneficiaries of deceased owners.--Housing
that meets the criteria described in subsection (b)(1)(C)
prior to the death of an owner of such housing shall continue
to qualify as affordable housing under this title if--
``(A) the housing is the principal residence of an heir or
beneficiary of the deceased owner, as defined by the
Secretary; and
``(B) 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.''.
(i) Elimination of Expiration of Right to Draw Home
Investment Trust Funds.--Section 218 of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 12748) is
amended--
(1) by striking subsection (g); and
(2) by redesignating subsection (h) as subsection (g).
(j) Adjusted Recapture and Reuse of Set-aside for Community
Housing Developmental Organizations.--Section 231(b) of the
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C.
12771(b)) is amended to read as follows:
``(b) Recapture and Reuse.--If any funds reserved under
subsection (a) remain uninvested for a period of 24 months,
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 such funds.''.
(k) Asset Recycling Information Dissemination Expansion.--
Section 245(b)(2) of the Cranston-Gonzalez National
Affordable Housing Act (42 U.S.C. 12785(b)(2)) is amended by
striking ``95 percent'' and inserting ``110 percent''.
(l) Environmental Review Requirements.--
(1) In general.--Section 288 of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 12838) is amended
by adding at the end the following:
``(e) Categorical Exemptions.--The following categories of
activities carried out under this title shall be statutorily
exempt from environmental review under the National
Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.),
and shall not require further review under such Act:
``(1) New construction infill housing projects.
``(2) Acquisition of real property for affordable housing
purposes.
``(3) Rehabilitation projects carried out pursuant to
section 212(a)(1).
``(4) New construction projects of 15 units or less.
``(f) Removing Duplicative Reviews.--
``(1) In general.--To the extent practicable and permitted
by law, the Secretary shall ensure that a project that has
undergone an environmental review under this section shall
not be subject to a duplicative environmental review solely
due to the addition, substitution, or reallocation of other
sources of Federal assistance, if the scope, scale, and
location of the project remain substantially unchanged.
``(2) Coordination of environmental review
responsibilities.--The Secretary shall, by regulation,
provide for coordination of environmental review
responsibilities with other Federal agencies to streamline
interagency compliance and avoid unnecessary duplication of
effort under the National Environmental Policy Act of 1969
(42 U.S.C. 4321 et seq.) and other applicable laws.
``(3) Recognition of prior reviews by responsible
entities.--A project may not be subject to an environmental
review under this section if a substantially similar review
has already been completed by an entity designated under
section 104(g)(1) of the Housing and Community Development
Act of 1974 (42 U.S.C. 5304(g)(1)) or by another entity the
Secretary determines to have equivalent authority, if the
scope, scale, and location of the project remain
substantially unchanged.''.
(2) Rulemaking.--Not later than 1 year after the date of
the enactment of this Act, the Secretary shall issue such
rules as the Secretary determines necessary to carry out the
amendment made by this subsection.
(3) Applicability.--Any activity generated under this
subsection would be subject to an authorization of
appropriations.
(4) Definition.--Section 104 of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 12704) is amended
by striking paragraph (25) and inserting the following:
``(25) The term `infill housing project' means a
residential housing project that--
``(A) is located within the geographic limits of a
municipality;
``(B) is adequately served by existing utilities and public
services as required under applicable law;
``(C) is located on a site of previously disturbed land of
not more than 5 acres; and
``(D) is substantially surrounded by residential or
commercial development, as determined by the Secretary.''.
(m) Application of Build America, Buy America Requirements
for Home Investment Partnerships Program.--
(1) In general.--Not later than 180 days after the date of
enactment of this Act, the Secretary of Housing and Urban
Development (in this subsection referred to as the
``Secretary'') shall complete a review of the implementation
of the Build America, Buy America Act (title IV of division G
of Public Law 117-58; 42 U.S.C. 8301
[[Page H4169]]
note) with respect to the activities assisted under title II
of the Cranston-Gonzalez National Affordable Housing Act (42
U.S.C. 12721 et seq.).
(2) Updated guidance.--Not later than 90 days after the
review described in subsection (a) is completed, the
Secretary shall issue updated guidance to clarify the
application of the Build America, Buy America Act (title IV
of division G of Public Law 117-58; 42 U.S.C. 8301 note) with
respect to the activities assisted under title II of the
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C.
12721 et seq.).
(3) Report.--Not later than 270 days after the date of
enactment of this Act, the Secretary shall submit to the
Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing, and
Urban Affairs of the Senate a report that describes--
(A) the results of the review required under subsection
(a); and
(B) the guidance issued as described in subsection (b).
(n) Application of Other Specified Statutory
Requirements.--Title II of the Cranston-Gonzalez National
Affordable Housing Act (42 U.S.C. 12721 et seq.) is amended
by adding at the end the following:
``SEC. 291. NONAPPLICABILITY OF CERTAIN REQUIREMENTS FOR
SMALL PROJECTS.
``Notwithstanding any other provision of law, the
requirements of section 3 of the Housing and Urban
Development Act of 1968 (12 U.S.C. 1701u), and any
implementing regulations or guidance, shall not apply to an
activity assisted under this title that involves
rehabilitation, construction, or other development of housing
if--
``(1) the recipient of assistance under this title is--
``(A) a State recipient pursuant to section 216; or
``(B) a participating jurisdiction that received a total
allocation of less than $3,000,000 in the most recent fiscal
year pursuant to section 216; and
``(2) the total number of dwelling units assisted as a part
of such activity is not more than 50.''.
(o) Reallocation Not Available for Certain Jurisdictions.--
Section 217(d) of the Cranston-Gonzalez National Affordable
Housing Act (42 U.S.C. 12747(d)) is amended--
(1) in paragraph (1), by striking the second sentence and
inserting the following: ``Subject to paragraph (4),
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.''; and
(2) by adding at the end the following:
``(4) Reallocation not available for certain
jurisdictions.--The Secretary may decline to make a
reallocation available to a jurisdiction eligible for such
reallocation if such jurisdiction has failed to meet or
comply with any requirement under this title.''.
(p) Amendments to Qualification as Affordable Housing.--
Section 215(a)(1)(E) of the Cranston-Gonzalez National
Affordable Housing Act (42 U.S.C. 12745(a)) is amended by
striking ``except upon a foreclosure by a lender (or upon
other transfer in lieu of foreclosure) if such action (i)
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
(ii) is not for the purpose of avoiding low-income
affordability restrictions, as determined by the Secretary;
and'' and inserting the following: ``except--
``(i) upon a foreclosure by a lender (or upon other
transfer in lieu of foreclosure) if such action--
``(I) 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
``(II) is not for the purpose of avoiding low-income
affordability restrictions, as determined by the Secretary;
or
``(ii) 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 in which the affordable housing is
located or the owner of the affordable housing that
significantly impact the financial or physical condition of
the affordable housing, as determined by the Secretary;
and''.
(q) Tenant and Participant Protections for Affordable
Housing.--Section 225 of the Cranston-Gonzalez National
Affordable Housing Act (42 U.S.C. 12755) is amended by adding
at the end the following:
``(e) Exception.--Paragraphs (2), (3), and (4) of
subsection (d) shall not apply to housing under this section
that meets the following criteria:
``(1) The housing is affordable housing with not more than
4 dwelling units, each of which is made available for rental.
``(2) Each dwelling unit in the housing bears rent in an
amount that complies with the requirements described in
paragraph (1)(A).
``(3) Each dwelling unit in the housing is accompanied by a
low-income family.
``(4) No dwelling in the housing is refused for leasing to
a holder of a voucher under section 8 of the United States
Housing Act of 1937 (42 U.S.C. 1437f) because of the status
of the prospective tenant as a holder of that voucher.
``(5) The housing complies with the requirement described
in paragraph (1)(E).
``(6) The participating jurisdiction in which the housing
is located monitors the compliance of the housing with the
requirements of this title in a manner consistent with the
purposes of section 226(b), as determined by the
Secretary.''.
(r) Revision of Definition of Community Land Trust.--
Section 104 of the Cranston-Gonzalez National Affordable
Housing Act (42 U.S.C. 12704), as amended by subsection
(l)(4), is amended by adding at the end the following:
``(26) The term `community land trust' means a nonprofit
entity, a State, a unit of local government, or an
instrumentality of a State or unit of local government that--
``(A) is not managed by, or an affiliate of, a for profit
organization;
``(B) has as a primary purpose of acquiring, developing, or
holding land to provide housing that is permanently
affordable to low- and moderate-income persons;
``(C) monitors properties to ensure affordability is
preserved;
``(D) provides housing that is permanently affordable to
low- and moderate-income persons using a ground lease, deed
covenant, or other similar legally enforceable measure,
determined acceptable by the Secretary, that--
``(i) keeps housing affordable to low- and moderate-income
persons for not less than 30 years; and
``(ii) enables low- and moderate-income persons to rent or
purchase the housing for home-ownership; and
``(E) maintains preemptive purchase options to purchase the
property if such purchase would allow the housing to remain
affordable to low-and moderate-income persons.''.
(s) Set-aside for Community Housing Development
Organizations.--Section 231(a) of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 12771(a)) is
amended, in the first sentence, by striking ``to be
developed, sponsored, or owned by community housing
development organizations'' and inserting ``when a community
housing development organization materially participates in
the ownership or development of that housing, as determined
by the Secretary''.
(t) Administrative Reforms.--
(1) Increase in program administration resources.--Section
220(b) of the Cranston-Gonzalez National Affordable Housing
Act (42 U.S.C. 12750(b)) is amended--
(A) by striking paragraph (2);
(B) by striking ``Recognition.--'' and all that follows
through ``A contribution'' and inserting ``Recognition.--A
contribution''; and
(C) by redesignating subparagraphs (A) and (B) as
paragraphs (1) and (2), respectively, and adjusting the
margins accordingly.
(2) Modification of jurisdictions eligible for
reallocations.--Section 217(d)(3) of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 12747(d)(3)) is
amended--
(A) in the paragraph heading, by striking ``Limitation''
and inserting ``Limitations''; and
(B) by striking ``Unless otherwise specified'' and
inserting the following:
``(A) Removal of participating jurisdictions from
reallocation.--The Secretary may, upon a finding that the
participating jurisdiction has failed to meet or comply with
the requirements of this title, remove a participating
jurisdiction from participation in reallocations of funds
made available under this title.
``(B) Reallocation to same type of entity.--Unless
otherwise specified''.
(3) Home property inspections.--Section 226(b) of the
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C.
12756(b)) is amended--
(A) by striking ``Each participating jurisdiction'' and
inserting the following:
``(1) In general.--Each participating jurisdiction''; and
(B) by striking ``Such review shall include'' and all that
follows and inserting the following:
``(2) Onsite inspections.--
``(A) Inspections by units of general local government.--A
review conducted under paragraph (1) by a participating
jurisdiction that is a unit of general local government shall
include an onsite inspection to determine compliance with
housing codes and other applicable regulations.
``(B) Inspections by states.--A review conducted under
paragraph (1) by a participating jurisdiction that is a State
shall include an onsite inspection to determine compliance
with a national standard as determined by the Secretary.
``(3) Inclusion in performance report and publication.--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).''.
(4) Revisions to strengthen enforcement and penalties for
noncompliance.--Section 223 of the Cranston-Gonzalez National
Affordable Housing Act (42 U.S.C. 12753) is amended--
(A) in the section heading, by striking ``penalties for
misuse of funds'' and inserting ``program enforcement and
penalties for noncompliance'';
(B) in the matter preceding paragraph (1), by inserting
after ``any provision of this subtitle'' the following: ``,
including any provision applicable throughout the period
required by section 215(a)(1)(E) and applicable
regulations,'';
(C) in paragraph (2), by striking ``or'' at the end;
(D) in paragraph (3), by striking the period at the end and
inserting ``; or''; and
(E) by adding at the end the following:
``(4) reduce payments to the participating jurisdiction
under this subtitle by an amount equal to the amount of such
payments that were not expended by the participating
jurisdiction in accordance with this title.''.
(u) Minimum Allocations.--Section 217(b) of the Cranston-
Gonzalez National Affordable Housing Act (42 U.S.C. 12747
(b)) is amended--
(1) in paragraph (2), by striking ``$500,000'' each place
that term appears and inserting ``$750,000'';
(2) in paragraph (3)--
(A) by striking ``jurisdictions that are allocated an
amount of $500,000 or more'' and inserting ``jurisdictions
that are allocated an amount of $750,000 or more'';
[[Page H4170]]
(B) by striking ``that are allocated an amount less than
$500,000'' and inserting ``that are allocated an amount less
than $500,000 before the date of enactment of the 21st
Century ROAD to Housing Act or less than $750,000 on or after
the date of enactment of the 21st Century ROAD to Housing
Act''; and
(C) by striking ``, except as provided in paragraph (4)'';
and
(3) by striking paragraph (4).
(v) Technical and Conforming Amendments.--The Cranston-
Gonzalez National Affordable Housing Act (42 U.S.C. 12701 et
seq.) is amended--
(1) by striking ``Stewart B. McKinney Homeless Assistance
Act'' each place that term appears and inserting ``McKinney-
Vento Homeless Assistance Act'';
(2) by striking ``Committee on Banking, Finance and Urban
Affairs'' each place that term appears and inserting
``Committee on Financial Services'';
(3) in the table of contents in section 1(b) (Public Law
101-625; 104 Stat. 4079)--
(A) by striking the item relating to section 205 and
inserting the following:
``Sec. 205. Authorization of program.'';
(B) by striking the item relating to section 223 and
inserting the following:
``Sec. 223. Program enforcement and penalties for noncompliance.''; and
(C) by inserting after the item relating to section 290 the
following:
``Sec. 291. Nonapplicability of certain requirements for small
projects.'';
(4) in section 104 (42 U.S.C. 12704)--
(A) by redesignating paragraph (23) (relating to the
definition of the term ``to demonstrate to the Secretary'')
as paragraph (22); and
(B) by redesignating paragraph (24) (relating to the
definition of the term ``insular area'', as added by section
2(2) of Public Law 102-230) as paragraph (23);
(5) in section 105(b)(8) (42 U.S.C. 12705(b)(8)), by
striking ``subparagraphs'' and inserting ``paragraphs'';
(6) in section 108(a)(1) (42 U.S.C. 12708(a)(1)), by
striking ``section 105(b)(15)'' and inserting ``section
105(b)(18)'';
(7) in section 212 (42 U.S.C. 12742)--
(A) in subsection (a)(3)(A)(ii), by inserting ``United
States'' before ``Housing Act'';
(B) in subsection (d)(5), by inserting ``United States''
before ``Housing Act''; and
(C) in subsection (e)(1)--
(i) by striking ``section 221(d)(3)(ii)'' and inserting
``section 221(d)(4)''; and
(ii) by striking ``not to exceed 140 percent'' and
inserting ``as determined by the Secretary'';
(8) in section 215(a)(6)(B) (42 U.S.C. 12745(a)(6)(B)), by
striking ``grand children'' and inserting ``grandchildren'';
(9) in section 217 (42 U.S.C. 12747)--
(A) in subsection (a)--
(i) in paragraph (1), by striking ``(3)'' and inserting
``(2)'';
(ii) by striking paragraph (3), as added by section
211(a)(2)(D) of the Housing and Community Development Act of
1992 (Public Law 102-550; 106 Stat. 3756); and
(iii) by redesignating the remaining paragraph (3), as
added by the matter under the heading ``home investment
partnerships program'' under the heading ``Housing Programs''
in title II of the Departments of Veterans Affairs and
Housing and Urban Development, and Independent Agencies
Appropriations Act, 1993 (Public Law 102-389; 106 Stat.
1581), as paragraph (2); and
(B) in subsection (b)(1)--
(i) in subparagraph (A), in the first sentence--
(I) by striking ``in regulation'' and inserting ``, by
regulation,''; and
(II) by striking ``eligible jurisdiction'' and inserting
``eligible jurisdictions''; and
(ii) in subparagraph (F), in the first sentence--
(I) in clause (i), by striking ``Subcommittee on Housing
and Urban Affairs'' and inserting ``Subcommittee on Housing,
Transportation, and Community Development''; and
(II) in clause (ii), by striking ``Subcommittee on Housing
and Community Development of the Committee on Banking,
Finance and Urban Affairs'' and inserting ``Subcommittee on
Housing and Insurance of the Committee on Financial
Services'';
(10) in section 220(c) (42 U.S.C. 12750(c))--
(A) in paragraph (3), by striking ``Secretary'' and all
that follows and inserting ``Secretary;'';
(B) in paragraph (4), by striking ``under this title'' and
all that follows and inserting ``under this title;''; and
(C) by redesignating paragraphs (6), (7), and (8) as
paragraphs (5), (6), and (7), respectively;
(11) in section 225(d)(4)(B) (42 U.S.C. 12755(d)(4)(B)), by
striking ``for'' the first place that term appears; and
(12) in section 233 (42 U.S.C. 12773)--
(A) in subsection (b)(6), by striking ``to community land
trusts (as such term is defined in subsection (f))'' and
inserting ``to community land trusts (as such term is defined
in section 104)''; and
(B) by striking subsection (f).
SEC. 502. RURAL HOUSING SERVICE REFORM ACT.
(a) Application of Multifamily Mortgage Foreclosure
Procedures to Multifamily Mortgages Held by the Secretary of
Agriculture and Preservation of the Rental Assistance
Contract Upon Foreclosure.--
(1) Multifamily mortgage procedures.--Section 363(2)(F) of
the Multifamily Mortgage Foreclosure Act of 1981 (12 U.S.C.
3702(2)) is amended--
(A) by striking ``or 515'' and inserting ``515, or 538'';
and
(B) by inserting ``, 1490p-2'' after ``1485''.
(2) Preservation of contract.--Section 521(d) of the
Housing Act of 1949 (42 U.S.C. 1490a(d)) is amended by adding
at the end the following:
``(3) Notwithstanding any other provision of law, in
managing and disposing of any multifamily property that is
owned or has a mortgage held by the Secretary, and during the
process of foreclosure on any property with a contract for
rental assistance under this section--
``(A) the Secretary shall maintain any rental assistance
payments that are attached to any dwelling units in the
property; and
``(B) the rental assistance contract may be used to provide
further assistance to existing projects under 514, 515, or
516.''.
(b) Study on Rural Housing Loans for Housing for Low- and
Moderate-income Families.--Not later than 6 months after the
date of enactment of this Act, the Secretary of Agriculture
shall conduct a study and submit to Congress a publicly
available report on the loan program under section 521 of the
Housing Act of 1949 (42 U.S.C. 1490a), including--
(1) the total amount provided by the Secretary in subsidies
under such section 521 to borrowers with loans made pursuant
to section 502 of such Act (42 U.S.C. 1472);
(2) how much of the subsidies described in paragraph (1)
are being recaptured; and
(3) the amount of time and costs associated with
recapturing those subsidies.
(c) Staffing and Information Technology Upgrades.--
Utilizing funds appropriated for such purposes, the Secretary
of Agriculture may increase staffing capacity and upgrade
information technology to support all Rural Housing Service
programs.
(d) Technical Improvements.--
(1) Authorization of appropriations.--Utilizing funds
appropriated for such purposes, the Secretary of Agriculture
may make improvements to the technology of the Rural Housing
Service of the Department of Agriculture used to process and
manage housing loans.
(2) Availability.--Amounts appropriated pursuant to
paragraph (1) shall remain available until the date that is 5
years after the date of the appropriation.
(3) Timeline.--The Secretary of Agriculture shall make the
improvements described in paragraph (1) during the 5-year
period beginning on the date on which amounts are
appropriated under paragraph (1).
(e) Permanent Establishment of Housing Preservation and
Revitalization Program.--Title V of the Housing Act of 1949
(42 U.S.C. 1471 et seq.) is amended by adding at the end the
following:
``SEC. 545. HOUSING PRESERVATION AND REVITALIZATION PROGRAM.
``(a) Establishment.--The Secretary shall carry out a
program under this section for the preservation and
revitalization of multifamily rental housing projects
financed under section 514, 515, or 516.
``(b) Notice of Maturing Loans.--
``(1) To owners.--On an annual basis, the Secretary shall
provide written notice to each owner of a property financed
under section 514, 515, or 516 that will mature within the 4-
year period beginning upon the provision of the notice,
setting forth the options and financial incentives that are
available to facilitate the extension of the loan term or the
option to decouple a rental assistance contract pursuant to
subsection (f).
``(2) To tenants.--
``(A) In general.--On an annual basis, for each property
financed under section 514, 515, or 516, not later than the
date that is 2 years before the date that the loan will
mature, the Secretary shall provide written notice to each
household residing in the property that informs them of--
``(i) the date of the loan maturity;
``(ii) the possible actions that may happen with respect to
the property upon that maturity; and
``(iii) how to protect their right to reside in federally
assisted housing, or how to secure housing voucher, after
that maturity.
``(B) Language.--Notice under this paragraph shall be
provided in plain English and shall be translated to other
languages in the case of any property located in an area in
which a significant number of residents speak such other
languages.
``(c) Loan Restructuring.--Under the program under this
section, in any circumstance in which the Secretary proposes
a restructuring to an owner or an owner proposes a
restructuring to the Secretary, the Secretary may restructure
such existing housing loans, as the Secretary considers
appropriate, for the purpose of ensuring that those projects
have sufficient resources to preserve the projects to provide
safe and affordable housing for low-income residents and farm
laborers, by--
``(1) reducing or eliminating interest;
``(2) deferring loan payments;
``(3) subordinating, reducing, or reamortizing loan debt;
``(4) providing other financial assistance, including
advances, payments, and incentives (including the ability of
owners to obtain reasonable returns on investment) required
by the Secretary; and
``(5) permanently removing a portion of the housing units
from income restrictions when sustained vacancies have
occurred.
``(d) Renewal of Rental Assistance.--
``(1) In general.--When the Secretary proposes to
restructure a loan or agrees to the proposal of an owner to
restructure a loan pursuant to subsection (c), the Secretary
shall offer to renew the rental assistance contract under
section 521(a)(2) for a term that is the shorter of 20 years
and the term of the restructured loan, subject to annual
appropriations, provided that the owner agrees to bring the
property up to such standards that will ensure maintenance of
the property as decent, safe, and sanitary housing for the
full term of the rental assistance contract.
[[Page H4171]]
``(2) Additional rental assistance.--With respect to a
project described in paragraph (1), if rental assistance is
not available for all households in the project for which the
loan is being restructured pursuant to subsection (c), the
Secretary may extend such additional rental assistance to
unassisted households at that project as is necessary to make
the project safe and affordable to low-income households.
``(e) Restrictive Use Agreements.--
``(1) Requirement.--As part of the preservation and
revitalization agreement for a project, the Secretary shall
obtain a restrictive use agreement that is recorded and
obligates the owner to operate the project in accordance with
this title.
``(2) Term.--
``(A) No extension of rental assistance contract.--Except
when the Secretary enters into a 20-year extension of the
rental assistance contract for a project, the term of the
restrictive use agreement for the project shall be consistent
with the term of the restructured loan for the project.
``(B) Extension of rental assistance contract.--If the
Secretary enters into a 20-year extension of the rental
assistance contract for a project, the term of the
restrictive use agreement for the project shall be for the
longer of--
``(i) 20 years; or
``(ii) the remaining term of the loan for that project.
``(C) Termination.--The Secretary may terminate the 20-year
restrictive use agreement for a project before the end of the
term of the agreement if the 20-year rental assistance
contract for the project with the owner is terminated at any
time for reasons outside the control of the owner.
``(f) Decoupling of Rental Assistance.--
``(1) Renewal of rental assistance contract.--If the
Secretary determines that a loan maturing during the 4-year
period beginning upon the provision of the notice required
under subsection (b)(1) for a project cannot reasonably be
restructured in accordance with subsection (c) because it is
not financially feasible or the owner does not agree with the
proposed restructuring, and the project was operating with
rental assistance under section 521 and the recipient is a
borrower under section 514 or 515, the Secretary may renew
the rental assistance contract, notwithstanding any
requirement under section 521 that the recipient be a current
borrower under section 514 or 515, for a term of 20 years,
subject to annual appropriations.
``(2) Additional rental assistance.--With respect to a
project described in paragraph (1), if rental assistance is
not available for all households in the project for which the
loan is being restructured pursuant to subsection (c), the
Secretary may extend such additional rental assistance to
unassisted households at that project as is necessary to make
the project safe and affordable to low-income households.
``(3) Rents.--
``(A) In general.--Any agreement to extend the term of the
rental assistance contract under section 521 for a project
shall obligate the owner to continue to maintain the project
as decent, safe, and sanitary housing and to operate the
development as affordable housing in a manner that meets the
goals of this title.
``(B) Rent amounts.--Subject to subparagraph (C), in
setting rents, the Secretary--
``(i) shall determine the maximum initial rent based on
current fair market rents established under section 8 of the
United States Housing Act of 1937 (42 U.S.C. 1437f); and
``(ii) may annually adjust the rent determined under clause
(i) by the operating cost adjustment factor as provided under
section 524 of the Multifamily Assisted Housing Reform and
Affordability Act of 1997 (42 U.S.C. 1437f note).
``(C) Higher rent.--
``(i) In general.--Subparagraph (B) shall not apply if the
Secretary determines that the budget-based needs of a project
require a higher rent than the rent described in subparagraph
(B).
``(ii) Rent.--If the Secretary makes a positive
determination under clause (i), the Secretary may approve a
budget-based rent level for the project.
``(4) Conditions for approval.--Before the approval of a
rental assistance contract authorized under this section, the
Secretary shall require, through an annual notice in the
Federal Register, the owner to submit to the Secretary a plan
that identifies financing sources and a timetable for
renovations and improvements determined to be necessary by
the Secretary to maintain and preserve the project.
``(g) Multifamily Housing Transfer Technical Assistance.--
Under the program under this section, the Secretary may
provide grants to qualified nonprofit organizations, housing
cooperative corporations, and public housing agencies to
provide technical assistance, including financial and legal
services, to borrowers under loans under this title for
multifamily housing to facilitate the acquisition or
preservation of such multifamily housing properties in areas
where the Secretary determines there is a risk of loss of
affordable housing.
``(h) Administrative Expenses.--Of any amounts made
available for the program under this section for any fiscal
year, the Secretary may use not more than $1,000,000 for
administrative expenses for carrying out such program.
``(i) Rulemaking.--
``(1) In general.--Not later than 180 days after the date
of enactment of the 21st Century ROAD to Housing Act, the
Secretary shall--
``(A) publish an advance notice of proposed rulemaking; and
``(B) consult with appropriate stakeholders.
``(2) Interim final rule.--Not later than 1 year after the
date of enactment of the 21st Century ROAD to Housing Act,
the Secretary shall publish an interim final rule to carry
out this section.''.
(f) Rental Assistance Contract Authority.--Section 521(d)
of the Housing Act of 1949 (42 U.S.C. 1490a(d)), as amended
by this section, is amended--
(1) in paragraph (1)--
(A) by redesignating subparagraphs (B) and (C) as
subparagraphs (C) and (D), respectively;
(B) by inserting after subparagraph (A) the following:
``(B) upon request of an owner of a project financed under
section 514 or 515, the Secretary is authorized to enter into
renewal of such agreements for a period of 20 years or the
term of the loan, whichever is shorter, subject to amounts
made available in appropriations Acts;'';
(C) in subparagraph (C), as so redesignated, by striking
``subparagraph (A)'' and inserting ``subparagraphs (A) and
(B)''; and
(D) in subparagraph (D), as so redesignated, by striking
``subparagraphs (A) and (B)'' and inserting ``subparagraphs
(A), (B), and (C)'';
(2) in paragraph (2), by striking ``shall'' and inserting
``may''; and
(3) by adding at the end the following:
``(4) In the case of any rental assistance contract
authority that becomes available because of the termination
of assistance on behalf of an assisted family--
``(A) at the option of the owner of the rental project, the
Secretary shall provide the owner a period of not more than 6
months before unused assistance is made available pursuant to
subparagraph (B) during which the owner may use such
authority to provide assistance on behalf of an eligible
unassisted family that--
``(i) is residing in the same rental project in which the
assisted family resided before the termination; or
``(ii) newly occupies a dwelling unit in the rental project
during that 6-month period; and
``(B) except for assistance used as provided in
subparagraph (A), the Secretary shall use such remaining
authority to provide assistance on behalf of eligible
families residing in other rental projects originally
financed under section 514, 515, or 516.''.
(g) Modifications to Loans and Grants for Minor
Improvements to Farm Housing and Buildings; Income
Eligibility.--Section 504(a) of the Housing Act of 1949 (42
U.S.C. 1474(a)) is amended--
(1) in the first sentence, by inserting ``and may make a
loan to an eligible low-income applicant'' after
``applicant''; and
(2) by striking ``$7,500'' and inserting ``$15,000''.
(h) Rural Community Development Initiative.--Subtitle E of
the Consolidated Farm and Rural Development Act (7 U.S.C.
2009 et seq.) is amended by adding at the end the following:
``SEC. 381O. RURAL COMMUNITY DEVELOPMENT INITIATIVE.
``(a) Definitions.--In this section:
``(1) Eligible entity.--The term `eligible entity' means--
``(A) a private, nonprofit community-based housing or
community development organization;
``(B) a rural community; or
``(C) a federally recognized Indian tribe.
``(2) Eligible intermediary.--The term `eligible
intermediary' means a qualified--
``(A) private, nonprofit organization; or
``(B) public organization.
``(b) Establishment.--The Secretary shall establish a Rural
Community Development Initiative, under which the Secretary
shall provide grants, subject to the availability of
appropriations, to eligible intermediaries to carry out
programs to provide financial and technical assistance to
eligible entities to develop the capacity and ability of
eligible entities to carry out projects to improve housing,
community facilities, and community and economic development
projects in rural areas.
``(c) Amount of Grants.--The amount of a grant provided to
an eligible intermediary under this section shall be not more
than $500,000.
``(d) Matching Funds.--
``(1) In general.--An eligible intermediary receiving a
grant under this section shall provide matching funds from
other sources, including Federal funds for related
activities, in an amount not less than the amount of the
grant.
``(2) Waiver.--The Secretary may waive paragraph (1) with
respect to a project that would be carried out in a
persistently poor rural region, as determined by the
Secretary.''.
(i) Annual Report on Rural Housing Programs.--Title V of
the Housing Act of 1949 (42 U.S.C. 1471 et seq.), as amended
by this section, is amended by adding at the end the
following:
``SEC. 546. ANNUAL REPORT.
``(a) In General.--The Secretary shall submit to the
appropriate committees of Congress and publish on the website
of the Department of Agriculture an annual report on rural
housing programs carried out under this title, which shall
include significant details on the health of Rural Housing
Service programs, including--
``(1) raw data sortable by programs and by region regarding
loan performance;
``(2) the housing stock of those programs, including
information on why properties end participation in those
programs, such as for maturation, prepayment, foreclosure, or
other servicing issues; and
``(3) risk ratings for properties assisted under those
programs.
``(b) Protection of Information.--The data included in each
report required under subsection (a) may be aggregated or
anonymized to protect participant financial or personal
information.''.
(j) GAO Report on Rural Housing Service Technology.--Not
later than 1 year after the date of enactment of this Act,
the Comptroller General of the United States shall submit to
Congress a report that includes--
(1) an analysis of how the outdated technology used by the
Rural Housing Service impacts participants in the programs of
the Rural Housing Service;
[[Page H4172]]
(2) an estimate of the amount of funding that is needed to
modernize the technology used by the Rural Housing Service;
and
(3) an estimate of the number and type of new employees the
Rural Housing Service needs to modernize the technology used
by the Rural Housing Service.
(k) Adjustment to Rural Development Voucher Amount.--
(1) In general.--Not later than 2 years after the date of
enactment of this Act, the Secretary of Agriculture shall
issue regulations to establish a process for adjusting the
voucher amount provided under section 542 of the Housing Act
of 1949 (42 U.S.C. 1490r) after the issuance of the voucher
following an interim or annual review of the amount of the
voucher.
(2) Interim review.--The interim review described in
paragraph (1) shall, at the request of a tenant, allow for a
recalculation of the voucher amount when the tenant
experiences a reduction in income, change in family
composition, or change in rental rate.
(3) Annual review.--
(A) In general.--The annual review described in paragraph
(1) shall require tenants to annually recertify the family
composition of the household and that the family income of
the household does not exceed 80 percent of the area median
income at a time determined by the Secretary of Agriculture.
(B) Considerations.--If a tenant does not recertify the
family composition and family income of the household within
the time frame required under subparagraph (A), the Secretary
of Agriculture--
(i) shall consider whether extenuating circumstances caused
the delay in recertification; and
(ii) may alter associated consequences for the failure to
recertify based on those circumstances.
(C) Effective date.--Following the annual review of a
voucher under paragraph (1), the updated voucher amount shall
be effective on the 1st day of the month following the
expiration of the voucher.
(4) Deadline.--The process established under paragraph (1)
shall require the Secretary of Agriculture to review and
update the voucher amount described in paragraph (1) for a
tenant not later than 60 days before the end of the voucher
term.
(l) Eligibility for Rural Housing Vouchers.--Section 542 of
the Housing Act of 1949 (42 U.S.C. 1490r) is amended by
adding at the end the following:
``(c) Eligibility of Households in Sections 514, 515, and
516 Projects.--The Secretary may provide rural housing
vouchers under this section for any low-income household
(including those not receiving rental assistance) residing
for a term longer than the remaining term of their lease that
is in effect on the date of prepayment, foreclosure, or
mortgage maturity, in a property financed with a loan under
section 514 or 515 or a grant under section 516 that has--
``(1) been prepaid with or without restrictions imposed by
the Secretary pursuant to section 502(c)(5)(G)(ii)(I);
``(2) been foreclosed; or
``(3) matured after September 30, 2005.''.
(m) Amount of Voucher Assistance.--Notwithstanding any
other provision of law, in the case of any rural housing
voucher provided pursuant to section 542 of the Housing Act
of 1949 (42 U.S.C. 1490r), the amount of the monthly
assistance payment for the household on whose behalf the
assistance is provided shall be determined as provided in
subsection (a) of such section 542, including providing for
interim and annual review of the voucher amount in the event
of a change in household composition or income or rental
rate.
(n) Transfer of Multifamily Rural Housing Projects.--
Section 515 of the Housing Act of 1949 (42 U.S.C. 1485) is
amended--
(1) in subsection (h), by adding at the end the following:
``(3) Transfer to nonprofit organizations.--A nonprofit or
public body purchaser, including a limited partnership with a
general partner with the principal purpose of providing
affordable housing, may purchase a property for which a loan
is made or insured under this section that has received a
market value appraisal, without addressing rehabilitation
needs at the time of purchase, if the purchaser--
``(A) makes a commitment to address rehabilitation needs
during ownership and long-term use restrictions on the
property; and
``(B) at the time of purchase, accepts long-term use
restrictions on the property.''; and
(2) in subsection (w)(1), in the first sentence in the
matter preceding subparagraph (A), by striking ``9 percent''
and inserting ``25 percent''.
(o) Extension of Loan Term.--
(1) In general.--Section 502(a)(2) of the Housing Act of
1949 (42 U.S.C. 1472(a)(2)) is amended--
(A) by inserting ``(A)'' before ``The Secretary'';
(B) in subparagraph (A), as so designated, by striking
``paragraph'' and inserting ``subparagraph''; and
(C) by adding at the end the following:
``(B) The Secretary may refinance or modify the period of
any loan, including any refinanced loan, made under this
section in accordance with terms and conditions as the
Secretary shall prescribe, but in no event shall the total
term of the loan from the date of the refinance or
modification exceed 40 years.''.
(2) Application.--The amendment made under paragraph (1)
shall apply with respect to loans made under section 502 of
the Housing Act of 1949 (42 U.S.C. 1472) before, on, or after
the date of enactment of this Act.
(p) Release of Liability for Section 502 Guaranteed
Borrower Upon Assumption of Original Loan by New Borrower.--
Section 502(h) of the Housing Act of 1949 (42 U.S.C. 1472(h))
is amended--
(1) by striking paragraph (10) and inserting the following:
``(10) Transfer and assumption.--Upon the transfer of
property for which a guaranteed loan under this subsection
was made, and the assumption of the guaranteed loan by an
approved eligible borrower, the original borrower of a
guaranteed loan under this subsection shall be relieved of
liability with respect to the loan.'';
(2) by redesignating paragraph (16) as paragraph (17); and
(3) by inserting after paragraph (15) the following:
``(16) Fee.--
``(A) In general.--The mortgagee may charge an assuming
borrower a reasonable and customary processing fee for an
assumption request made under this subsection.
``(B) Maximum fee.--The Secretary shall set a maximum
allowable fee described in subparagraph (A), which may be
indexed for inflation.''.
(q) Department of Agriculture Loan Restrictions.--
(1) Definitions.--In this subsection, the terms ``State''
and ``tribal organization'' have the meanings given those
terms in section 658P of the Child Care and Development Block
Grant Act of 1990 (42 U.S.C. 9858n).
(2) Revision.--The Secretary of Agriculture shall revise
section 3555.102(c) of title 7, Code of Federal Regulations,
to exclude from the restriction under that section--
(A) a home-based business that is a licensed, registered,
or regulated child care provider under State law or by a
tribal organization; and
(B) an applicant that has applied to become a licensed,
registered, or regulated child care provider under State law
or by a tribal organization.
(r) Loan Guarantees.--Section 502(h)(4) of the Housing Act
of 1949 (42 U.S.C. 1472(h)(4)) is amended--
(1) by redesignating subparagraphs (A), (B), and (C) as
clauses (i), (ii), and (iii), respectively, and adjusting the
margins accordingly;
(2) by striking ``Loans may be guaranteed'' and inserting
the following:
``(A) Definition.--In this paragraph, the term `accessory
dwelling unit' means a single, habitable living unit--
``(i) with means of separate ingress and egress;
``(ii) that is usually subordinate in size;
``(iii) that can be added to, created within, or detached
from a primary 1-unit, single-family dwelling; and
``(iv) in combination with a primary 1-unit, single-family
dwelling, constitutes a single interest in real estate.
``(B) Single-family requirement.--Loans may be
guaranteed''; and
(3) by adding at the end the following:
``(C) Rule of construction.--Nothing in this paragraph
shall be construed to prohibit the leasing of an accessory
dwelling unit or the use of rental income derived from such a
lease to qualify for a loan guaranteed under this
subsection--
``(i) after the date of enactment of the 21st Century ROAD
to Housing Act; and
``(ii) if the property that is the subject of the loan was
constructed before the date of enactment of the 21st Century
ROAD to Housing Act.''.
(s) Application Review.--
(1) Sense of congress.--It is the sense of Congress, not
later than 90 days after the date on which the Secretary of
Agriculture receives an application for a loan, grant, or
combined loan and grant under section 502 or 504 of the
Housing Act of 1949 (42 U.S.C. 1472, 1474), the Secretary of
Agriculture should--
(A) review the application;
(B) complete the underwriting;
(C) make a determination of eligibility with respect to the
application; and
(D) notify the applicant of determination.
(2) Report.--
(A) In general.--Not later than 90 days after the date of
enactment of this Act, and annually thereafter until the date
described in subparagraph (B), the Secretary of Agriculture
shall submit to the Committee on Banking, Housing, and Urban
Affairs of the Senate and the Committee on Financial Services
of the House of Representatives a report--
(i) detailing the timeliness of eligibility determinations
and final determinations with respect to applications under
sections 502 and 504 of the Housing Act of 1949 (42 U.S.C.
1472, 1474), including justifications for any eligibility
determinations taking longer than 90 days; and
(ii) that includes recommendations to shorten the timeline
for notifications of eligibility determinations described in
clause (i) to not more than 90 days.
(B) Date described.--The date described in this
subparagraph is the date on which, during the preceding 5-
year period, the Secretary of Agriculture provides each
eligibility determination described in subparagraph (A)
during the 90-day period beginning on the date on which each
application is received.
SEC. 503. INCENTIVIZING LOCAL SOLUTIONS TO HOMELESSNESS.
Section 414 of the McKinney-Vento Homeless Assistance Act
(42 U.S.C. 11373) is amended by adding at the end the
following:
``(f) Funding Cap Waiver Authority.--
``(1) In general.--Notwithstanding any other provision of
law or regulation, a recipient may request a waiver to the
expenditure limit established pursuant to section 415(b) for
amounts provided for each of fiscal years 2027 through 2030.
``(2) Waiver request.--
``(A) In general.--A recipient seeking a waiver described
in paragraph (1) shall submit to the Secretary a waiver
request that includes not more than the following:
``(i) A demonstration of local needs and circumstances that
necessitate a waiver.
``(ii) A detailed plan for how the recipient intends to use
funds.
[[Page H4173]]
``(iii) A justification for how the proposed use of funds
supports the most recent Consolidated Plan submitted by the
recipient.
``(iv) Any public input solicited under subparagraph
(B)(ii).
``(B) Notification.--Each recipient shall--
``(i) notify all subrecipients and local Continuums of Care
that serve the recipient's geographic area of the
availability of waivers under this subsection; and
``(ii) prior to the submission of a waiver request under
subparagraph (A), solicit public input regarding the
potential need for and proposed uses of such waiver.
``(C) Approval; publication.--The Secretary shall--
``(i) make all waiver requests submitted under subparagraph
(A) publicly available on the website of the Department of
Housing and Urban Development;
``(ii) not later than 60 days after the date on which the
Secretary receives a waiver request under subparagraph (A),
approve or deny the request; and
``(iii) deny any waiver request submitted under
subparagraph (A) by a recipient that relocates or threaten to
relocate individuals or their property without providing
emergency shelter, rapid rehousing, transitional housing,
permanent supportive housing, or other permanent housing
options.
``(3) Revocation.--
``(A) In general.--A waiver approved under this subsection
shall remain in effect for the duration of the period of
performance of fiscal year 2027 through 2030 grants, unless
the recipient notifies the Secretary in writing that the
recipient wishes to revoke the waiver.
``(B) Notification.--If a recipient intends to revoke a
waiver under subparagraph (A), the recipient shall--
``(i) solicit input from subrecipients regarding the
revocation before submitting the revocation; and
``(ii) provide subrecipients with a summary of the input
and the justification for the revocation in its submittal
prior to notifying the Secretary in writing.
``(C) Publication.--The Secretary shall publish any
revocation of a waiver under subparagraph (A) and the
justification of the recipient for the waiver on the website
of the Department of Housing and Urban Development.''.
SEC. 504. REFORMING DISASTER RECOVERY ACT.
(a) Definitions.--In this section:
(1) Department.--The term ``Department'' means the
Department of Housing and Urban Development.
(2) Fund.--The term ``Fund'' means the Long-Term Disaster
Recovery Fund established under subsection (c).
(3) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(b) Duties of the Department of Housing and Urban
Development.--
(1) In general.--The offices and officers of the Department
shall be responsible for--
(A) leading and coordinating the disaster-related
responsibilities of the Department under the National
Response Framework, the National Disaster Recovery Framework,
and the National Mitigation Framework;
(B) coordinating and administering programs, policies, and
activities of the Department related to disaster relief,
long-term recovery, resiliency, and mitigation, including
disaster recovery assistance under title I of the Housing and
Community Development Act of 1974 (42 U.S.C. 5301 et seq.);
(C) supporting disaster-impacted communities as those
communities specifically assess, plan for, and address the
housing stock and housing needs in the transition from
emergency shelters and interim housing to permanent housing
of those displaced, especially among vulnerable populations
and extremely low-, low-, and moderate-income households;
(D) collaborating with the Federal Emergency Management
Agency and the Small Business Administration and across the
Department to align disaster-related regulations and
policies, including incorporation of consensus-based codes
and standards and insurance purchase requirements, and
ensuring coordination and reducing duplication among other
Federal disaster recovery programs;
(E) promoting best practices in mitigation and resilient
land use planning;
(F) coordinating technical assistance, including
mitigation, resiliency, and recovery training and information
on all relevant legal and regulatory requirements, to
entities that receive disaster recovery assistance under
title I of the Housing and Community Development Act of 1974
(42 U.S.C. 5301 et seq.) that demonstrate capacity
constraints; and
(G) supporting State, Tribal, and local governments in
developing, coordinating, and maintaining their capacity for
disaster resilience and recovery and developing pre-disaster
recovery and hazard mitigation plans, in coordination with
the Federal Emergency Management Agency and other Federal
agencies.
(2) Establishment of the office of disaster management and
resiliency.--Section 4 of the Department of Housing and Urban
Development Act (42 U.S.C. 3533) is amended by adding at the
end the following:
``(i) Office of Disaster Management and Resiliency.--
``(1) Establishment.--There is established the Office of
Disaster Management and Resiliency.
``(2) Duties.--The Office of Disaster Management and
Resiliency shall--
``(A) be responsible for oversight and coordination of all
departmental disaster preparedness and response
responsibilities; and
``(B) coordinate with the Federal Emergency Management
Agency, the Small Business Administration, and other offices
of the Department in supporting recovery and resilience
activities to provide a comprehensive approach in working
with communities.''.
(c) Long-Term Disaster Recovery Fund.--
(1) Establishment.--There is established in the Treasury of
the United States an account to be known as the ``Long-Term
Disaster Recovery Fund''.
(2) Deposits, transfers, and credit.--
(A) In general.--The Fund shall consist of amounts
appropriated, transferred, and credited to the Fund.
(B) Transfers.--The following may be transferred to the
Fund:
(i) Amounts made available through section 106(c)(4) of the
Housing and Community Development Act of 1974 (42 U.S.C.
5306(c)(4)) as a result of actions taken under section
104(e), 111, or 124(j) of such Act.
(ii) Any unobligated balances available until expended
remaining or subsequently recaptured from amounts
appropriated for any disaster and related purposes under the
heading ``Community Development Fund'' in any Act prior to
the establishment of the Fund.
(C) Use of transferred amounts.--Amounts transferred to the
Fund shall be used for the eligible uses described in
paragraph (3).
(3) Eligible uses of fund.--
(A) In general.--Amounts in the Fund shall be available--
(i) to provide assistance in the form of grants under
section 124 of the Housing and Community Development Act of
1974, as added by subsection (d); and
(ii) for activities of the Department that support the
provision of such assistance, including necessary salaries
and expenses, information technology, and capacity building,
technical assistance, and pre-disaster readiness.
(B) Set-aside.--Of each amount appropriated for or
transferred to the Fund, 3 percent shall be made available
for activities described in subparagraph (A)(ii), which shall
be in addition to other amounts made available for those
activities.
(C) Transfer of funds.--With respect to amounts made
available for use in accordance with subparagraph (B)--
(i) amounts may be transferred to the account under the
heading for ``Program Offices--Salaries and Expenses--
Community Planning and Development'', or any successor
account, for the Department to carry out activities described
in subparagraph(B); and
(ii) amounts may be used for the activities described in
subparagraph (A)(ii) and for the administrative costs of
administering any funds appropriated to the Department under
the heading ``Community Planning and Development--Community
Development Fund'' for any major disaster declared under
section 401 of the Robert T. Stafford Disaster Relief and
Emergency Assistance Act (42 U.S.C. 5170) in any Act before
the establishment of the Fund.
(D) Inspector general.--
(i) In general.--Not less than one-tenth of 1 percent of
each series of awards the Secretary makes from the Fund shall
be transferred to the account under the heading ``Office of
Inspector General'' for the Department of Housing and Urban
Development to support audit activities and to investigate
grantee noncompliance with program requirements and waste,
fraud, and abuse as a result of appropriations made available
through the Fund.
(ii) Availability.--Funding under clause (i) shall not be
made available to the Office of Inspector General until 90
days after the date on which the grantee plan or supplemental
plan for the grantee is approved by the Secretary under
subsection (c) or (f)(3)(C) of section 124 of the Housing and
Community Development Act of 1974, as added by subsection
(d), is approved by the Secretary.
(4) Interchangeability of prior administrative amounts.--
Any amounts appropriated in any Act prior to the
establishment of the Fund and transferred to the account
under the heading ``Program Offices--Salaries and Expenses--
Community Planning and Development'', or any predecessor
account, for the Department for the costs of administering
funds appropriated to the Department under the heading
``Community Planning and Development--Community Development
Fund'' for any major disaster declared under section 401 of
the Robert T. Stafford Disaster Relief and Emergency
Assistance Act (42 U.S.C. 5170) shall be available for the
costs of administering any such funds provided by any prior
or future Act, notwithstanding the purposes for which those
amounts were appropriated and in addition to any amount
provided for the same purposes in other appropriations Acts.
(5) Availability of amounts.--Amounts appropriated,
transferred, and credited to the Fund shall remain available
until expended.
(6) Formula allocation.--Use of amounts in the Fund for
grants shall be made by formula allocation in accordance with
the requirements of section 124(a) of the Housing and
Community Development Act of 1974, as added by subsection
(d).
(d) Establishment of CDBG Disaster Recovery Program.--Title
I of the Housing and Community Development Act of 1974 (42
U.S.C. 5301 et seq.), as amended by this Act, is amended--
(1) in section 102(a) (42 U.S.C. 5302(a))--
(A) in paragraph (20)--
(i) by redesignating subparagraph (B) as subparagraph (C);
(ii) in subparagraph (C), as so redesignated, by inserting
``or (B)'' after ``subparagraph (A)''; and
(iii) by inserting after subparagraph (A) the following:
``(B) The term `persons of extremely low income' means
families and individuals whose income levels do not exceed
household income levels determined by the Secretary under
section 3(b)(2) of the United States Housing Act of 1937 (42
U.S.C. 1437a(b)(2)(C)), except that the Secretary may provide
alternative definitions for
[[Page H4174]]
the Commonwealth of Puerto Rico, Guam, the Commonwealth of
the Northern Mariana Islands, the United States Virgin
Islands, and American Samoa.''; and
(B) by adding at the end the following:
``(25) The term `major disaster' has the meaning given the
term in section 102 of the Robert T. Stafford Disaster Relief
and Emergency Assistance Act (42 U.S.C. 5122).'';
(2) in section 106(c)(4) (42 U.S.C. 5306(c)(4))--
(A) in subparagraph (A)--
(i) by striking ``declared by the President under the
Robert T. Stafford Disaster Relief and Emergency Assistance
Act'';
(ii) by inserting ``States for use in nonentitlement areas
and to'' before ``metropolitan cities''; and
(iii) by inserting ``major'' after ``affected by the'';
(B) in subparagraph (C)--
(i) by striking ``metropolitan city or'' and inserting
``State, metropolitan city, or'';
(ii) by striking ``city or county'' and inserting ``State,
city, or county''; and
(iii) by inserting ``major'' before ``disaster'';
(C) in subparagraph (D), by striking ``metropolitan cities
and'' and inserting ``States, metropolitan cities, and'';
(D) in subparagraph (F)--
(i) by striking ``metropolitan city or'' and inserting
``State, metropolitan city, or''; and
(ii) by inserting ``major'' before ``disaster''; and
(E) in subparagraph (G), by striking ``metropolitan city
or'' and inserting ``State, metropolitan city, or'';
(3) in section 122 (42 U.S.C. 5321), by striking ``disaster
under title IV of the Robert T. Stafford Disaster Relief and
Emergency Assistance Act'' and inserting ``major disaster'';
and
(4) by adding at the end the following:
``SEC. 124. COMMUNITY DEVELOPMENT BLOCK GRANT DISASTER
RECOVERY PROGRAM.
``(a) Authorization, Formula, and Allocation.--
``(1) Authorization.--The Secretary is authorized to make
community development block grant disaster recovery grants
from the Long-Term Disaster Recovery Fund established under
section 504(c) of the 21st Century ROAD to Housing Act (in
this section referred to as the `Fund') for necessary
expenses for activities authorized under subsection (f)(1)
related to disaster relief, long-term recovery, restoration
of housing and infrastructure, economic revitalization, and
mitigation in the most impacted and distressed areas
resulting from a catastrophic major disaster.
``(2) Grant awards.--Grants shall be awarded under this
section to States, units of general local government, and
Indian tribes based on capacity and the concentration of
damage, as determined by the Secretary, to support the
efficient and effective administration of funds.
``(3) Section 106 allocations.--Grants under this section
shall not be considered relevant to the formula allocations
made pursuant to section 106.
``(4) Federal register notice.--
``(A) In general.--Not later than 30 days after the date of
enactment of this section, the Secretary shall issue a notice
in the Federal Register containing the latest formula
allocation methodologies used to determine the total estimate
of unmet needs related to housing, economic revitalization,
and infrastructure in the most impacted and distressed areas
resulting from a catastrophic major disaster.
``(B) Public comment.--If the Secretary has not already
requested public comment on the formula described in the
notice required by subparagraph (A), the Secretary shall
solicit public comments on--
``(i) the methodologies described in subparagraph (A) and
seek alternative methods for formula allocation within a
similar total amount of funding;
``(ii) the impact of formula methodologies on rural areas
and Tribal areas;
``(iii) adjustments to improve targeting to the most
serious needs;
``(iv) objective criteria for grantee capacity and
concentration of damage to inform grantee determinations and
minimum allocation thresholds; and
``(v) research and data to inform an additional amount to
be provided for mitigation depending on type of disaster,
which shall be up to 18 percent of the total estimate of
unmet needs.
``(5) Regulations.--
``(A) In general.--The Secretary shall, by regulation,
establish a formula to allocate assistance from the Fund to
the most impacted and distressed areas resulting from a
catastrophic major disaster.
``(B) Formula requirements.--The formula established under
subparagraph (A) shall--
``(i) set forth criteria to determine that a major disaster
is catastrophic, which criteria shall consider the presence
of a high concentration of damaged housing or businesses that
individual, State, Tribal, and local resources could not
reasonably be expected to address without additional Federal
assistance or other nationally encompassing data that the
Secretary determines are adequate to assess relative impact
and distress across geographic areas;
``(ii) include a methodology for identifying most impacted
and distressed areas, which shall consider unmet serious
needs related to housing, economic revitalization, and
infrastructure;
``(iii) include an allocation calculation that considers
the unmet serious needs resulting from the catastrophic major
disaster and an additional amount up to 18 percent for
activities to reduce risks of loss resulting from other
natural disasters in the most impacted and distressed area,
primarily for the benefit of low- and moderate-income
persons, with particular focus on activities that reduce
repetitive loss of property and critical infrastructure; and
``(iv) establish objective criteria for periodic review and
updates to the formula to reflect changes in available data.
``(C) Minimum allocation threshold.--The Secretary shall,
by regulation, establish a minimum allocation threshold.
``(D) Interim allocation.--Until such time that the
Secretary issues final regulations under this paragraph, the
Secretary shall--
``(i) allocate assistance from the Fund using the formula
allocation methodology published in accordance with paragraph
(4); and
``(ii) include an additional amount for mitigation of up to
18 percent of the total estimate of unmet need.
``(6) Allocation of funds.--
``(A) In general.--The Secretary shall--
``(i) except as provided in clause (ii), not later than 90
days after the President declares a major disaster, use best
available data to determine whether the major disaster is
catastrophic and qualifies for assistance under the formula
described in paragraph (4) or (5), unless data is
insufficient to make this determination; and
``(ii) if the best available data is insufficient to make
the determination required under clause (i) within the 90-day
period described in that clause, determine whether the major
disaster qualifies when sufficient data becomes available,
but in no case shall the Secretary make the determination
later than 120 days after the declaration of the major
disaster.
``(B) Announcement of allocation.--If amounts are available
in the Fund at the time the Secretary determines that the
major disaster is catastrophic and qualifies for assistance
under the formula described in paragraph (4) or (5), the
Secretary shall immediately announce an allocation for a
grant under this section.
``(C) Additional amounts.--If additional amounts are
appropriated to the Fund after amounts are allocated under
subparagraph (B), the Secretary shall announce an allocation
or additional allocation (if a prior allocation under
subparagraph (B) was less than the formula calculation)
within 15 days of any such appropriation.
``(7) Preliminary funding.--
``(A) In general.--To speed recovery, the Secretary is
authorized to allocate and award preliminary grants from the
Fund before making a determination under paragraph (6)(A) if
the Secretary projects, based on a preliminary assessment of
impact and distress, that a major disaster is catastrophic
and would likely qualify for funding under the formula
described in paragraph (4) or (5).
``(B) Amount.--
``(i) Maximum.--The Secretary may award preliminary funding
under subparagraph (A) in an amount that is not more than
$5,000,000.
``(ii) Sliding scale.--The Secretary shall, by regulation,
establish a sliding scale for preliminary funding awarded
under subparagraph (A) based on the size of the preliminary
assessment of impact and distress.
``(C) Use of funds.--The uses of preliminary funding
awarded under subparagraph (A) shall be limited to eligible
activities that--
``(i) in the determination of the Secretary, will support
faster recovery, improve the ability of the grantee to assess
unmet recovery needs, plan for the prevention of improper
payments, and reduce fraud, waste, and abuse; and
``(ii) may include evaluating the interim housing,
permanent housing, and supportive service needs of the
disaster impacted community, with special attention to
vulnerable populations, such as homeless and low- to
moderate-income households, to inform the grantee action plan
required under subsection (c).
``(D) Consideration of funding.--Preliminary funding
awarded under subparagraph (A)--
``(i) is not subject to the certification requirements of
subsection (h)(2); and
``(ii) shall not be considered when calculating the amount
of the grant used for administrative costs, technical
assistance, and planning activities that are subject to the
requirements under subsection (f)(3).
``(E) Waiver.--To expedite the use of preliminary funding
for activities described in this paragraph, the Secretary may
waive or specify alternative requirements to the requirements
of this section in accordance with subsection (i).
``(F) Amended award.--
``(i) In general.--An award for preliminary funding under
subparagraph (A) may be amended to add any subsequent amount
awarded because of a determination by the Secretary that a
major disaster is catastrophic and qualifies for assistance
under the formula.
``(ii) Applicability.--Notwithstanding subparagraph (D),
amounts provided by an amendment under clause (i) are subject
to the requirements under subsections (f)(1) and (h)(1) and
other requirements on grant funds under this section.
``(G) Technical assistance.--Concurrent with the allocation
of any preliminary funding awarded under this paragraph, the
Secretary shall assign or provide technical assistance to the
recipient of the grant.
``(b) Interchangeability.--
``(1) In general.--The Secretary is authorized to approve
the use of grants under this section to be used
interchangeably and without limitation for the same
activities in the most impacted and distressed areas
resulting from a declaration of another catastrophic major
disaster that qualifies for assistance under the formula
established under paragraph (4) or (5) of subsection (a) or a
major disaster for which the Secretary allocated funds made
available under the heading `Community Development Fund' in
any Act prior to the establishment of the Fund.
``(2) Requirements.--The Secretary shall establish
requirements to expedite the use of grants under this section
for the purpose described in paragraph (1).
[[Page H4175]]
``(3) Emergency designation.--Amounts repurposed pursuant
to this subsection that were previously designated by
Congress as an emergency requirement pursuant to the Balanced
Budget and Emergency Deficit Control Act of 1985 or a
concurrent resolution on the budget are designated by the
Congress as being for an emergency requirement pursuant to
section 4001(a)(1) of S. Con. Res. 14 (117th Congress), the
concurrent resolution on the budget for fiscal year 2022, and
to legislation establishing fiscal year 2026 budget
enforcement in the House of Representatives.
``(c) Grantee Plans.--
``(1) Requirement.--Not later than 90 days after the date
on which the Secretary announces a grant allocation under
this section, unless an extension is granted by the
Secretary, the grantee shall submit to the Secretary a plan
for approval describing--
``(A) the activities the grantee will carry out with the
grant under this section;
``(B) the criteria of the grantee for awarding assistance
and selecting activities;
``(C) how the use of the grant under this section will
address disaster relief, long-term recovery, restoration of
housing and infrastructure, economic revitalization, and
mitigation in the most impacted and distressed areas;
``(D) how the use of the grant funds for mitigation is
consistent with hazard mitigation plans submitted to the
Federal Emergency Management Agency under section 322 of the
Robert T. Stafford Disaster Relief and Emergency Assistance
Act (42 U.S.C. 5165);
``(E) the estimated amount proposed to be used for
activities that will benefit persons of low and moderate
income;
``(F) how the use of grant funds will repair and replace
existing housing stock for vulnerable populations, including
low- to moderate-income households;
``(G) how the grantee will address the priorities described
in paragraph (5);
``(H) how uses of funds are proportional to unmet needs, as
required under paragraph (6);
``(I) for State grantees that plan to distribute grant
amounts to units of general local government, a description
of the method of distribution; and
``(J) such other information as may be determined by the
Secretary in regulation.
``(2) Public consultation.--To permit public examination
and appraisal of the plan described in paragraph (1), to
enhance the public accountability of grantee, and to
facilitate coordination of activities with different levels
of government, when developing the plan or substantial
amendments proposed to the plan required under paragraph (1),
a grantee shall--
``(A) publish the plan before adoption;
``(B) provide citizens, affected units of general local
government, and other interested parties with reasonable
notice of, and opportunity to comment on, the plan, with a
public comment period of not less than 14 days;
``(C) consider comments received before submission to the
Secretary;
``(D) follow a citizen participation plan for disaster
assistance adopted by the grantee that, at a minimum,
provides for participation of residents of the most impacted
and distressed area affected by the major disaster that
resulted in the grant under this section and other
considerations established by the Secretary; and
``(E) undertake any consultation with interested parties as
may be determined by the Secretary in regulation.
``(3) Approval.--The Secretary shall--
``(A) by regulation, specify criteria for the approval,
partial approval, or disapproval of a plan submitted under
paragraph (1), including approval of substantial amendments
to the plan;
``(B) review a plan submitted under paragraph (1) upon
receipt of the plan;
``(C) allow a grantee to revise and resubmit a plan or
substantial amendment to a plan under paragraph (1) that the
Secretary disapproves;
``(D) by regulation, specify criteria for when the grantee
shall be required to provide the required revisions to a
disapproved plan or substantial amendment under paragraph (1)
for public comment prior to resubmission of the plan or
substantial amendment to the Secretary; and
``(E) approve, partially approve, or disapprove a plan or
substantial amendment under paragraph (1) not later than 60
days after the date on which the plan or substantial
amendment is received by the Secretary.
``(4) Low- and moderate-income overall benefit.--
``(A) Use of funds.--Not less than 70 percent of a grant
made under this section shall be used for activities that
benefit persons of low and moderate income unless the
Secretary--
``(i) specifically finds that--
``(I) there is compelling need to reduce the percentage for
the grant; and
``(II) the housing needs of low- and moderate-income
persons have been addressed; and
``(ii) issues a waiver and alternative requirement specific
to the grant pursuant to subsection (i) to lower the
percentage.
``(B) Regulations.--The Secretary shall, by regulation,
establish protocols that reflect the required use of funds
under subparagraph (A), including persons with extremely and
very low incomes.
``(5) Prioritization.--The grantee shall prioritize
activities that--
``(A) assist persons with extremely low-, low-, and
moderate-incomes and other vulnerable populations to better
recover from and withstand future disasters;
``(B) address housing needs arising from a disaster, or
those needs present prior to a disaster, including the needs
of both renters and homeowners;
``(C) prolong the life of housing and infrastructure;
``(D) use cost-effective means of preventing harm to people
and property and incorporate protective features and
redundancies; and
``(E) other measures that will assure the continuation of
critical services during future disasters.
``(6) Proportional allocation.--For each specific disaster,
a grantee under this section shall allocate grant funds
proportional to unmet needs between housing activities for
renters and homeowners, economic revitalization, and
infrastructure unless the Secretary specifically finds that--
``(A) there is a compelling need for a disproportional
allocation among those unmet needs; and
``(B) the disproportional allocation described in
subparagraph (A) is not inconsistent with the requirements
under paragraph (4).
``(7) Disaster risk mitigation.--
``(A) Definition.--In this paragraph, the term `hazard-
prone areas'--
``(i) means areas identified by the Secretary, in
consultation with the Administrator of the Federal Emergency
Management Agency, at risk from natural hazards that threaten
property damage or health, safety, and welfare, such as
floods, wildfires (including Wildland-Urban Interface areas),
earthquakes, lava inundation, tornados, and high winds; and
``(ii) includes areas having special flood hazards as
identified under the Flood Disaster Protection Act of 1973
(42 U.S.C. 4002 et seq.) or the National Flood Insurance Act
of 1968 (42 U.S.C. 4001 et seq.).
``(B) Hazard-prone areas.--The Secretary, in consultation
with the Administrator of the Federal Emergency Management
Agency, shall establish minimum construction standards,
insurance purchase requirements, and other requirements for
the use of grant funds in hazard-prone areas.
``(C) Special flood hazards.--
``(i) In general.--For the areas described in subparagraph
(A)(ii), the insurance purchase requirements established
under subparagraph (B) shall meet or exceed the requirements
under section 102(a) of the Flood Disaster Protection Act of
1973 (42 U.S.C. 4012a(a)).
``(ii) Treatment as financial assistance.--All grants under
this section shall be treated as financial assistance for
purposes of section 3(a)(3) of the Flood Disaster Protection
Act of 1973 (42 U.S.C. 4003(a)(3)).
``(D) Consideration of future risks.--The Secretary may
consider future risks to protecting property and health,
safety, and general welfare, and the likelihood of those
risks, when making the determination of or modification to
hazard-prone areas under this paragraph.
``(8) Relocation.--
``(A) In general.--The Uniform Relocation Assistance and
Real Property Acquisition Policies Act of 1970 (42 U.S.C.
4601 et seq.) shall apply to activities assisted under this
section to the extent determined by the Secretary in
regulation, or as provided in waivers or alternative
requirements authorized in accordance with subsection (i).
``(B) Policy.--Each grantee under this section shall
establish a relocation assistance policy that--
``(i) minimizes displacement and describes the benefits
available to persons displaced as a direct result of
acquisition, rehabilitation, or demolition in connection with
an activity that is assisted by a grant under this section;
and
``(ii) includes any appeal rights or other requirements
that the Secretary establishes by regulation.
``(d) Certifications.--Any grant under this section shall
be made only if the grantee certifies to the satisfaction of
the Secretary that--
``(1) the grantee is in full compliance with the
requirements under subsection (c)(2);
``(2) for grants other than grants to Indian tribes, the
grant will be conducted and administered in conformity with
the Civil Rights Act of 1964 (42 U.S.C. 2000a et seq.) and
the Fair Housing Act (42 U.S.C. 3601 et seq.);
``(3) the projected use of funds has been developed so as
to give maximum feasible priority to activities that will
benefit recipients described in subsection (c)(4)(A) and
activities described in subsection (c)(5), and may also
include activities that are designed to aid in the prevention
or elimination of slum and blight to support disaster
recovery, meet other community development needs having a
particular urgency because existing conditions pose a serious
and immediate threat to the health or welfare of the
community where other financial resources are not available
to meet such needs, and alleviate future threats to human
populations, critical natural resources, and property that an
analysis of hazards shows are likely to result from natural
disasters in the future;
``(4) the grant funds shall principally benefit persons of
low- and moderate-income as described in subsection
(c)(4)(A);
``(5) for grants other than grants to Indian tribes, within
24 months of receiving a grant or at the time of its 3- or 5-
year update, whichever is sooner, the grantee will review and
make modifications to its non-disaster housing and community
development plans and strategies required by subsections (c)
and (m) of section 104 to reflect the disaster recovery needs
identified by the grantee and consistency with the plan under
subsection (c)(1);
``(6) the grantee will not attempt to recover any capital
costs of public improvements assisted in whole or part under
this section by assessing any amount against properties owned
and occupied by persons of low and moderate income, including
any fee charged or assessment made as a condition of
obtaining access to such public improvements, unless--
``(A) funds received under this section are used to pay the
proportion of such fee or assessment that relates to the
capital costs of such public improvements that are financed
from revenue sources other than under this chapter; or
[[Page H4176]]
``(B) for purposes of assessing any amount against
properties owned and occupied by persons of moderate income,
the grantee certifies to the Secretary that the grantee lacks
sufficient funds received under this section to comply with
the requirements of subparagraph (A);
``(7) the grantee will comply with the other provisions of
this title that apply to assistance under this section and
with other applicable laws;
``(8) the grantee will follow a relocation assistance
policy that includes any minimum requirements identified by
the Secretary; and
``(9) the grantee will adhere to construction standards,
insurance purchase requirements, and other requirements for
development in hazard-prone areas described in subsection
(c)(7).
``(e) Performance Reviews and Reporting.--
``(1) In general.--The Secretary shall, on not less
frequently than an annual basis until the closeout of a
particular grant allocation, make such reviews and audits as
may be necessary or appropriate to determine whether a
grantee under this section has--
``(A) carried out activities using grant funds in a timely
manner;
``(B) met the performance targets established by paragraph
(2);
``(C) carried out activities using grant funds in
accordance with the requirements of this section, the other
provisions of this title that apply to assistance under this
section, and other applicable laws; and
``(D) a continuing capacity to carry out activities in a
timely manner.
``(2) Performance targets.--The Secretary shall develop and
make publicly available critical performance targets for
review, which shall include spending thresholds for each year
from the date on which funds are obligated by the Secretary
to the grantee until such time all funds have been expended.
``(3) Failure to meet targets.--
``(A) Suspension.--If a grantee under this section fails to
meet 1 or more critical performance targets under paragraph
(2), the Secretary may temporarily suspend the grant.
``(B) Performance improvement plan.--If the Secretary
suspends a grant under subparagraph (A), the Secretary shall
provide to the grantee a performance improvement plan with
the specific requirements needed to lift the suspension
within a defined time period.
``(C) Report.--If a grantee fails to meet the spending
thresholds established under paragraph (2), the grantee shall
submit to the Secretary, the appropriate committees of
Congress, and each member of Congress who represents a
district or State of the grantee a written report identifying
technical capacity, funding, or other Federal or State
impediments affecting the ability of the grantee to meet the
spending thresholds.
``(4) Collection of information and reporting.--
``(A) Requirement to report.--A grantee under this section
shall provide to the Secretary such information as the
Secretary may determine necessary for adequate oversight of
the grant program under this section.
``(B) Public availability.--Subject to subparagraph (D),
the Secretary shall make information submitted under
subparagraph (A) available to the public and to the Inspector
General for the Department of Housing and Urban Development.
``(C) Summary status reports.--To increase transparency and
accountability of the grant program under this section, the
Secretary shall, on not less frequently than an annual basis,
post on a public facing dashboard summary status reports for
all active grants under this section that includes--
``(i) the status of funds by activity;
``(ii) the percentages of funds allocated and expended to
benefit low- and moderate-income communities;
``(iii) performance targets, spending thresholds, and
accomplishments; and
``(iv) other information the Secretary determines to be
relevant for transparency.
``(D) Considerations.--In carrying out this paragraph, the
Secretary shall take such actions as may be necessary to
ensure that personally identifiable information regarding
applicants for assistance provided from funds made available
under this section is not made publicly available.
``(E) Research partnerships.--
``(i) In general.--The Secretary may, upon a formal request
from researchers, make disaggregated information available to
the requestor that is specific and relevant to the research
being conducted, and for the purposes of researching program
impact and efficacy.
``(ii) Privacy protections.--In making information
available under clause (i), the Secretary shall protect
personally identifiable information as required under section
552a of title 5, United States Code (commonly known as the
`Privacy Act of 1974').
``(f) Eligible Activities.--
``(1) In general.--Activities assisted under this section--
``(A) may include activities permitted under section 105 or
other activities permitted by the Secretary by waiver or
alternative requirement pursuant to subsection (i); and
``(B) shall be related to disaster relief, long-term
recovery, restoration of housing and infrastructure, economic
revitalization, and mitigation in the most impacted and
distressed areas resulting from the major disaster for which
the grant was awarded.
``(2) Prohibition.--Grant funds under this section may not
be used for costs reimbursable by, or for which funds have
been made available by, the Federal Emergency Management
Agency or the United States Army Corps of Engineers.
``(3) Administrative costs, technical assistance, and
planning.--
``(A) In general.--The Secretary shall establish in
regulation the maximum grant amounts a grantee may use for
administrative costs, technical assistance, and planning
activities, taking into consideration size of grant,
complexity of recovery, and other factors as determined by
the Secretary, but not to exceed 8 percent for administration
and 20 percent in total.
``(B) Availability.--Amounts available for administrative
costs for a grant under this section shall be available for
eligible administrative costs of the grantee for any grant
made under this section, without regard to a particular
disaster.
``(C) Supplemental plan.--
``(i) In general.--Grantees may submit to the Secretary an
optional supplemental plan to the grantee plan required under
this title specifically for administrative costs, which shall
include a description of the use of all grant funds for
administrative costs, including for any eligible pre-award
program administrative costs, and how such uses will prepare
the grantee to more effectively and expeditiously administer
funds provided under the full plan.
``(ii) Use of funds.--If a supplemental plan is approved
under clause (i), a grantee may draw down the aforementioned
administrative funds before the full grantee plan is
approved.
``(iii) Waivers.--In carrying out this subparagraph, the
Secretary may include any waivers or alternative requirements
in accordance with subsection (i).
``(4) Program income.--Notwithstanding any other provision
of law, any grantee under this section may retain program
income that is realized from grants made by the Secretary
under this section if the grantee agrees that the grantee
will utilize the program income in accordance with the
requirements for grants under this section, except that the
Secretary may--
``(A) by regulation, exclude from consideration as program
income any amounts determined to be so small that compliance
with this paragraph creates an unreasonable administrative
burden on the grantee; or
``(B) permit the grantee to transfer remaining program
income to the other grants of the grantee under this title
upon closeout of the grant.
``(5) Prohibition on use of assistance for employment
relocation activities.--
``(A) In general.--Grants under this section may not be
used to assist directly in the relocation of any industrial
or commercial plant, facility, or operation, from one area to
another area, if the relocation is likely to result in a
significant loss of employment in the labor market area from
which the relocation occurs.
``(B) Applicability.--The prohibition under subparagraph
(A) shall not apply to a business that was operating in the
disaster-declared labor market area before the incident date
of the applicable disaster and has since moved, in whole or
in part, from the affected area to another State or to a
labor market area within the same State to continue business.
``(6) Requirements.--Grants under this section are subject
to the requirements of this section, the other provisions of
this title that apply to assistance under this section, and
other applicable laws, unless modified by waivers or
alternative requirements in accordance with subsection (i).
``(g) Environmental Review.--
``(1) Adoption.--A recipient of funds provided under this
section that uses the funds to supplement Federal assistance
provided under section 203, 402, 403, 404, 406, 407,
408(c)(4), 428, or 502 of the Robert T. Stafford Disaster
Relief and Emergency Assistance Act (42 U.S.C. 5170a, 5170b,
5170c, 5172, 5173, 5174(c)(4), 5189f, 5192) may adopt,
without review or public comment, any environmental review,
approval, or permit performed by a Federal agency, and such
adoption shall satisfy the responsibilities of the recipient
with respect to such environmental review, approval, or
permit under section 104(g)(1), so long as the actions
covered by the existing environmental review, approval, or
permit and the actions proposed for these supplemental funds
are substantially the same.
``(2) Approval of release of funds.--Notwithstanding
section 104(g)(2), the Secretary or a State may, upon receipt
of a request for release of funds and certification,
immediately approve the release of funds for an activity or
project to be assisted under this section if the recipient
has adopted an environmental review, approval, or permit
under paragraph (1) or the activity or project is
categorically excluded from review under the National
Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.).
``(3) Units of general local government.--The provisions of
section 104(g)(4) shall apply to assistance under this
section that a State distributes to a unit of general local
government.
``(h) Financial Controls and Procedures.--
``(1) In general.--The Secretary shall develop requirements
and procedures to demonstrate that a grantee under this
section--
``(A) has adequate financial controls and procurement
processes;
``(B) has adequate procedures to detect and prevent fraud,
waste, abuse, and duplication of benefit; and
``(C) maintains a comprehensive and publicly accessible
website.
``(2) Certification.--Before making a grant under this
section, the Secretary shall certify that the grantee has in
place proficient processes and procedures to comply with the
requirements developed under paragraph (1), as determined by
the Secretary.
``(3) Compliance before allocation.--The Secretary may
permit a State, unit of general local government, or Indian
tribe to demonstrate compliance with the requirements for
adequate financial controls developed under paragraph (1)
before a disaster occurs and before receiving an allocation
for a grant under this section.
``(4) Duplication of benefits.--
``(A) In general.--Funds made available under this section
shall be used in accordance
[[Page H4177]]
with section 312 of the Robert T. Stafford Disaster Relief
and Emergency Assistance Act (42 U.S.C. 5155) and such rules
as may be prescribed under such section 312.
``(B) Penalties.--In any case in which the use of grant
funds under this section results in a prohibited duplication
of benefits, the grantee shall--
``(i) apply an amount equal to the identified duplication
to any allowable costs of the award consistent with an
actual, immediate cash requirement;
``(ii) remit any excess amounts to the Secretary to be
credited to the obligated, undisbursed balance of the grant
consistent with requirements on Federal payments applicable
to such grantee; and
``(iii) if excess amounts under clause (ii) are identified
after the period of performance or after the closeout of the
award, remit such amounts to the Secretary to be credited to
the Fund.
``(C) Failure to comply.--Any grantee provided funds under
this section or from prior appropriations Acts under the
heading `Community Development Fund' for purposes related to
major disasters that fails to comply with section 312 of the
Robert T. Stafford Disaster Relief and Emergency Assistance
Act (42 U.S.C. 5155) or fails to satisfy penalties to resolve
a duplication of benefits shall be subject to remedies for
noncompliance under section 111, unless the Secretary
publishes a determination in the Federal Register that it is
not in the best interest of the Federal Government to pursue
remedial actions.
``(i) Waivers and Alternative Requirements.--
``(1) In general.--In administering grants under this
section, the Secretary may waive, or specify alternative
requirements for, any provision of any statute or regulation
that the Secretary administers in connection with the
obligation by the Secretary or the use by the grantee of
those funds (except for requirements related to fair housing,
nondiscrimination, labor standards, the environment, and the
requirements of this section that do not expressly authorize
modifications by waiver or alternative requirement), if the
Secretary makes a public finding that good cause exists for
the waiver or alternative requirement.
``(2) Effective date.--A waiver or alternative requirement
described in paragraph (1) shall not take effect before the
date that is 5 days after the date of publication of the
waiver or alternative requirement on the website of the
Department of Housing and Urban Development or the effective
date for any regulation published in the Federal Register.
``(3) Public notification.--The Secretary shall notify the
public of all waivers or alternative requirements described
in paragraph (1) in accordance with the requirements of
section 7(q)(3) of the Department of Housing and Urban
Development Act (42 U.S.C. 3535(q)(3)).
``(j) Unused Amounts.--
``(1) Deadline to use amounts.--A grantee under this
section shall use an amount equal to the grant within 6 years
beginning on the date on which the Secretary obligates the
amounts to the grantee, as such period may be extended under
paragraph (4).
``(2) Recapture.--The Secretary shall recapture and credit
to the Fund any amount that is unused by a grantee under this
section upon the earlier of--
``(A) the date on which the grantee notifies the Secretary
that the grantee has completed all activities identified in
the disaster grantee's plan under subsection (c); or
``(B) the expiration of the 6-year period described in
paragraph (1), as such period may be extended under paragraph
(4).
``(3) Retention of funds.--Notwithstanding paragraph (1),
the Secretary--
``(A) shall allow a grantee under this section to retain
amounts needed to close out grants; and
``(B) may allow a grantee under this section to retain up
to 10 percent of the remaining funds to support maintenance
of the minimal capacity to launch a new program in the event
of a future disaster and to support pre-disaster long-term
recovery and mitigation planning.
``(4) Extension of period for use of funds.--The Secretary
may extend the 6-year period described in paragraph (1) by
not more than 4 years, or not more than 6 years for
mitigation activities, if--
``(A) the grantee submits to the Secretary--
``(i) written documentation of the exigent circumstances
impacting the ability of the grantee to expend funds that
could not be anticipated; or
``(ii) a justification that such request is necessary due
to the nature and complexity of the program and projects; and
``(B) the Secretary submits a written justification for the
extension to the Committee on Appropriations and the
Committee on Banking, Housing, and Urban Affairs of the
Senate and the Committee on Appropriations and the Committee
on Financial Services of the House of Representatives that
specifies the period of that extension.
``(k) Definition.--In this section, the term `Indian tribe'
has the meaning given the term in section 4 of the Native
American Housing Assistance and Self-Determination Act of
1996 (25 U.S.C. 4103).''.
(e) Regulations.--
(1) Proposed rules.--Following consultation with the
Federal Emergency Management Agency, the Small Business
Administration, and other Federal agencies, not later than 6
months after the date of enactment of this Act, the Secretary
shall issue proposed rules to carry out this section and the
amendments made by this section and shall provide a 90-day
period for submission of public comments on those proposed
rules.
(2) Final rules.--Not later than 1 year after the date of
enactment of this Act, the Secretary shall issue final
regulations to carry out section 124 of the Housing and
Community Development Act of 1974, as added by subsection
(d).
(f) Coordination of Disaster Recovery Assistance, Benefits,
and Data With Other Federal Agencies.--
(1) Coordination of disaster recovery assistance.--In order
to ensure a comprehensive approach to Federal disaster
relief, long-term recovery, restoration of housing and
infrastructure, economic revitalization, and mitigation in
the most impacted and distressed areas resulting from a
catastrophic major disaster, the Secretary shall coordinate
with the Federal Emergency Management Agency, to the greatest
extent practicable, in the implementation of assistance
authorized under section 124 of the Housing and Community
Development Act of 1974, as added by subsection (d).
(2) Data sharing agreements.--To support the coordination
of data to prevent duplication of benefits with other Federal
disaster recovery programs while also expediting recovery and
reducing burden on disaster survivors, the Department shall
establish data sharing agreements that safeguard privacy with
relevant Federal agencies to ensure disaster benefits
effectively and efficiently reach intended beneficiaries,
while using effective means of preventing harm to people and
property.
(3) Data transfer from fema and sba to hud.--As permitted
and deemed necessary for efficient program execution, and
consistent with a computer matching agreement entered into
under paragraph (6)(A), the Administrator of the Federal
Emergency Management Agency and the Administrator of the
Small Business Administration shall provide data on disaster
applicants to the Department, including, when necessary,
personally identifiable information, disaster recovery needs,
and resources determined eligible for, and amounts expended,
to the Secretary for all major disasters declared by the
President pursuant to section 401 of Robert T. Stafford
Disaster Relief and Emergency Assistance Act (42 U.S.C. 5170)
for the purpose of providing additional assistance to
disaster survivors and prevent duplication of benefits.
(4) Data transfers from hud to hud grantees.--The Secretary
is authorized to provide to grantees under section 124 of the
Housing and Community Development Act of 1974, as added by
subsection (d), offices of the Department, technical
assistance providers, and lenders information that in the
determination of the Secretary is reasonably available and
appropriate to inform the provision of assistance after a
major disaster, including information provided to the
Secretary by the Administrator of the Federal Emergency
Management Agency, the Administrator of the Small Business
Administration, or other Federal agencies.
(5) Data transfers from hud grantees to hud, fema, and
sba.--
(A) Reporting.--Grantees under section 124 of the Housing
and Community Development Act of 1974, as added by subsection
(d), shall report information requested by the Secretary on
households, businesses, and other entities assisted and the
type of assistance provided.
(B) Sharing information.--The Secretary shall share
information collected under subparagraph (A) with the Federal
Emergency Management Agency, the Small Business
Administration, and other Federal agencies to support the
planning and delivery of disaster recovery and mitigation
assistance and other related purposes.
(6) Privacy protection.--
(A) In general.--The Secretary may make and receive data
transfers authorized under this subsection, including the use
and retention of that data for computer matching programs, to
inform the provision of assistance, assess disaster recovery
needs, and prevent the duplication of benefits and other
waste, fraud, and abuse, provided that--
(i) the Secretary enters an information sharing agreement
or a computer matching agreement, when required by section
522a of title 5, United States Code (commonly known as the
``Privacy Act of 1974''), with the Administrator of the
Federal Emergency Management Agency, the Administrator of the
Small Business Administration, or other Federal agencies
covering the transfer of data; and
(ii) the Secretary publishes intent to disclose data in the
Federal Register.
(B) Data sharing agreement.--Notwithstanding clauses (i)
and (ii) of subparagraph (A), section 552a of title 5, United
States Code, or any other law, the Secretary is authorized to
share data with an entity identified in paragraph (4), and
the entity is authorized to use the data as described in this
section, if the Secretary enters a data sharing agreement
with the entity before sharing or receiving any information
under transfers authorized by this section, which data
sharing agreement shall--
(i) in the determination of the Secretary, include measures
adequate to safeguard the privacy and personally identifiable
information of individuals; and
(ii) include provisions that describe how the personally
identifiable information of an individual will be adequately
safeguarded and protected, which requires consultation with
the Secretary and the head of each Federal agency the data of
which is being shared subject to the agreement.
(g) Sunset.--The program under section 124 of the Housing
and Community Development Act of 1974, as added by subsection
(d) shall terminate on the date that is 3 years after the
date of enactment of this Act.
(h) Sense of Congress.--It is the sense of Congress that,
should Congress opt to appropriate funds for disaster
recovery through a similar successor program following the
sunset date, subsection (g) shall not preclude Congress from
doing so.
[[Page H4178]]
(i) Application.--Grants made under section 124 of the
Housing and Community Development Act of 1974, as added by
subsection (d), after the date of enactment of this Act shall
be carried out using amounts appropriated after the date of
enactment of this Act.
SEC. 505. NEW MOVING TO WORK COHORT.
(a) Definitions.--In this section:
(1) Moving to work demonstration.--The term ``Moving to
Work demonstration'' means the Moving to Work demonstration
authorized 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).
(2) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(b) Authorization of Additional Public Housing Agencies.--
(1) In general.--After the completion of the initial report
required under subsection (h)(2), the Secretary may add up to
an additional 25 public housing agencies that are designated
as high performing agencies under the Public Housing
Assessment System or the Section 8 Management Assessment
Program to participate in a new cohort as part of the Moving
to Work demonstration.
(2) Name.--The new cohort authorized under paragraph (1)
shall be entitled the ``Economic Opportunity and Pathways to
Independence Cohort''.
(c) Waiver Authority.--
(1) In general.--Subject to this subsection, the authority
of the Secretary to grant waivers to agencies admitted to the
Moving to Work demonstration under this section or to
designate policy changes as part of a cohort design under
this section shall be limited to the Moving to Work waivers
codified as of January 2025 in Appendix I of the document of
the Department of Housing and Urban Development entitled
``Operations Notice for the Expansion of the Moving to Work
Demonstration Program'' (FR-5994-N-05) published in the
Federal Register on August 28, 2020, as amended by the notice
entitled ``Operations Notice for Expansion of the Moving to
Work Demonstration Program Technical Revisions'' (FR-5994-N-
06) published in the Federal Register on March 20, 2025.
(2) Modifications.--The Secretary may not waive the safe
harbor requirements that apply to the Moving to Work waivers
described in paragraph (1) or modify those waivers in any
other way for the purposes of the new cohort under this
section.
(3) Exceptions.--
(A) In general.--Under paragraph (1), the Secretary may not
grant waiver 1c, 1d, 1e, 1f, 1k, 1l, 1o, 1p, 1q, 6, 7, 9a,
9h, or 12 in the document described in paragraph (1),
including modifications of or safe harbor requirement waivers
for such waivers.
(B) Specific wavers.--If the Secretary grants waiver 10 or
11 in the document described in paragraph (1), resident
participation in any program administered pursuant to those
waivers shall be optional for purposes of the new cohort
under this section.
(4) Policy options.--In carrying out the Moving to Work
demonstration cohort established under this section, the
Secretary may consider policy options to provide opt-out
savings or escrow accounts and report positive rental
payments to consumer reporting agencies (as defined in
section 603 of the Fair Credit Reporting Act (15 U.S.C.
1681a)) with resident consent.
(d) Funding and Use of Funds.--
(1) In general.--Public housing agencies in the cohort
authorized under this section may expend not more than 5
percent of the amounts those public housing agencies receive
in any fiscal year for housing assistance payments under
section 8(o) of the United States Housing Act of 1937 (42
U.S.C. 1437f(o)) for purposes other than such housing
assistance payments.
(2) Other uses.--Such other uses of amounts described in
paragraph (1) shall comply with all other applicable
requirements.
(3) Formula.--
(A) Renewal.--The amount of funding public housing agencies
receive for renewal of housing assistance payments under
section 8(o) of the United States Housing Act of 1937 (42
U.S.C. 1437f(o)) shall be determined according to the same
funding formula applicable to public housing agencies that do
not participate in the Moving to Work demonstration, except
that the Secretary shall provide public housing agencies
funding to renew any funds expended under this subsection,
with an adjustment for inflation.
(B) Administrative fees.--The amount of funding public
housing agencies receive for administrative fees under
section 8(q) of the United States Housing Act of 1937 (42
U.S.C. 1437f(q)), public housing operating subsidies under
section 9(e) of the United States Housing Act of 1937 (42
U.S.C. 1437g(e)), and public housing capital funding under
section 9(d) of the United States Housing Act of 1937 (42
U.S.C. 1437g(d)) shall be determined according to the same
funding formula applicable to public housing agencies that do
not participate in the Moving to Work demonstration.
(e) Selection Requirements.--The Secretary shall select
public housing agencies designated under this section through
a competitive process, as determined by the Secretary, with
the following parameters:
(1) No public housing agency shall be granted this
designation under this section that administers more than
27,000 aggregate housing vouchers and public housing units.
(2) Of the public housing agencies selected under this
section, not more than 12 shall administer 1,000 or fewer
aggregate housing vouchers and public housing units, not more
than 8 shall administer between 1,001 and 6,000 aggregate
housing vouchers and public housing units, and not more than
5 shall administer between 6,001 and 27,000 aggregate housing
vouchers and public housing units.
(3) Selection of public housing agencies under this section
shall be based on ensuring the geographic diversity of Moving
to Work demonstration public housing agencies.
(4) Within the requirements under paragraphs (1) through
(3), the Secretary shall prioritize selecting public housing
agencies that serve families with children and youth aging
out of foster care at a rate above the national average.
(f) Requirements for Selected Public Housing Agencies.--
Consistent with section 204(c)(3) of the Departments of
Veterans Affairs and Housing and Urban Development, and
Independent Agencies Appropriations Act, 1996 (42 U.S.C.
1437f note), public housing agencies selected for the Moving
to Work demonstration under this section shall--
(1) ensure that not less than 75 percent of the families
assisted are very low-income families, as defined in section
3(b)(2)(B) of the United States Housing Act of 1937 (42
U.S.C. 1437a(b)(2)(B));
(2) establish a reasonable rent policy, which shall be
designed to encourage employment and self-sufficiency by
participating families, consistent with the purpose of the
Moving to Work demonstration, such as by excluding some or
all of a family's earned income for purposes of determining
rent;
(3) continue to assist substantially the same total number
of eligible low-income families as would have been served had
the amounts not been combined;
(4) maintain a comparable mix of families (by family size)
as would have been provided had the amounts not been used
under the Moving to Work demonstration; and
(5) assure that housing assisted under the Moving to Work
demonstration meets housing quality standards established or
approved by the Secretary.
(g) Noncompliance.--
(1) In general.--If the Secretary finds that a public
housing agency participating in the cohort authorized under
this section is not in compliance with the requirements under
this section, the Secretary shall make a determination of
noncompliance.
(2) Compliance.--Upon making a determination under
paragraph (1), the Secretary shall develop a process to bring
the public housing agency into compliance.
(3) Removal.--If a public housing agency cannot be brought
into compliance under the process developed under paragraph
(2), the Secretary shall remove the participating public
housing agency from the cohort and replace it with a
similarly qualified public housing agency currently not in
the cohort chosen in the manner described in subsection (e).
(4) Notification.--Upon removing a public housing agency
under paragraph (3), the Secretary shall immediately submit
to the Committee on Banking, Housing, and Urban Affairs of
the Senate and the Committee on Financial Services of the
House of Representatives--
(A) a notification of the removal; and
(B) a report on the active steps the Secretary is taking to
replace the public housing agency with a new public housing
agency.
(h) Comprehensive Moving to Work Reporting and Oversight
Requirements.--
(1) Cohort research.--
(A) In general.--The Secretary shall continue ongoing
research investigations commenced as part of the assessment
of the cohorts established under section 239 of the
Department of Housing and Urban Development Appropriations
Act, 2016 (42 U.S.C. 1437f note; Public Law 114-113), make
public all products completed as part of those
investigations, and keep such products online for at least 5
years.
(B) Coordination.--The Secretary shall coordinate with the
advisory committee established under section 239 of the
Department of Housing and Urban Development Appropriations
Act, 2016 (42 U.S.C. 1437f note; Public Law 114-113) to
establish a research program to evaluate the outcomes and
efficacy of the following for all Moving to Work
demonstration agencies designated under the authority under
such section and this section:
(i) The waivers granted to each cohort and whether those
waivers accomplish the goals of achieving greater cost
effectiveness and administrative capacity, incentivizing
families to become economically self-sufficient, and
increasing housing choice.
(ii) The additional flexibilities granted to individual
public housing agencies under each cohort.
(iii) How the flexibilities described in clause (ii) were
used for local, non-traditional activities.
(2) Comprehensive reporting requirement.--Not later than
180 days after the date of enactment of this Act, and
annually thereafter, the Secretary shall submit to the
Committee on Banking, Housing, and Urban Affairs of the
Senate and the Committee on Financial Services of the House
of Representatives a report that contains the following for
each Moving to Work demonstration cohort 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), section 239 of the Department of
Housing and Urban Development Appropriations Act, 2016 (42
U.S.C. 1437f note; Public Law 114-113), and this section:
(A) The annual administrative plans of each Moving to Work
demonstration public housing agency.
(B) Assessments of longitudinal data, including data on
units, households, and outcomes, which shall be evaluated to
compare changes in the following trends before and after
Moving to Work demonstration designation:
(i) Impacts on tenants based on the following,
disaggregated by the public housing program and the housing
choice voucher program:
[[Page H4179]]
(I) Eviction rates.
(II) Hardship policy usage.
(III) Share of rent covered by a household.
(IV) Turnover, including the number of household moves with
or without continued assistance.
(V) Reasons for exit from the program.
(VI) The number and characteristics of households served,
including households with a non-elderly family member with a
disability, households with 3 or more minors, homelessness
status at the time of admission, and average and median
income as a percent of area median income.
(ii) Impacts on public housing agency operations based on
the following:
(I) The number of units, broken down by type.
(II) The size, including the number of bedrooms per unit,
accessibility, affordability, and quality of units.
(III) The length of each waitlist maintained and average
wait times.
(IV) Changes in capital backlog needs and surplus fund and
reserve levels.
(V) The number of public housing units undergoing a
conversion under the rental assistance demonstration program
authorized under the Department of Housing and Urban
Development Appropriations Act, 2012 (Public Law 112-55; 125
Stat. 673) or demolition or disposition projects under
section 18 of the United States Housing Act of 1937 (42
U.S.C. 1437p), including the number of units lost and the
location of any replacement housing resulting from demolition
or disposition.
(VI) The share of project-based vouchers compared to
tenant-based vouchers.
(VII) The following annual housing choice voucher data:
(aa) Voucher unit utilization rates.
(bb) Voucher budget utilization rates.
(cc) Annualized voucher success rate.
(dd) Demographic composition of households issued vouchers
compared to utilized vouchers.
(ee) Average time to lease-up.
(ff) Average cost per voucher.
(gg) Average cost per landlord incentive.
(hh) Ratio of the proportion of voucher households living
in concentrated low-income areas to the proportion of renter-
occupied units in concentrated low-income areas.
(ii) Characteristics of census tracts where voucher
recipients reside.
(VIII) How the public housing agency met each of the
statutory requirements in section 204(c)(3) of the
Departments of Veterans Affairs and Housing and Urban
Development, and Independent Agencies Appropriations Act,
1996 (42 U.S.C. 1437f note).
(iii) Impacts on public housing staffing and capacity,
including the average public housing agency operating,
administrative, and housing assistance payment expenditures
per household per month.
(C) Legislative recommendations for flexibilities that
could be expanded to all public housing agencies and how each
flexibility enhances housing choice, affordability, and
administrative capacity and efficiency for public housing
agencies.
(3) Public availability.--
(A) In general.--The Secretary shall maintain all reports
submitted pursuant to this section in a manner that is
publicly available, accessible, and searchable on the website
of the Department of Housing and Urban Development for not
less than 5 years.
(B) Other information.--
(i) In general.--The Secretary shall make the annual plan
of the Moving to Work demonstration, the Section 8
administrative plan, and the admission and continued
occupancy policy for each year publicly available in 1
location on the website of the Department of Housing and
Urban Development for not less than 5 years.
(ii) Database.--The Secretary may establish a searchable
database on the website of the Department of Housing and
Urban Development to track the types of flexibilities into
which Moving to Work demonstration public housing agencies
have opted or for which a waiver was approved by the
Secretary, disaggregated by the year such flexibilities were
adopted or approved.
TITLE VI--VETERANS AND HOUSING
SEC. 601. MILITARY SERVICE QUESTION.
(a) In General.--Subpart A of part 2 of the Federal Housing
Enterprises Financial Safety and Soundness Act of 1992 (12
U.S.C. 4541 et seq.) is amended by adding at the end the
following:
``SEC. 1329. UNIFORM RESIDENTIAL LOAN APPLICATION.
``Not later than 6 months after the date of enactment of
this section, the Director shall, by regulation or order,
require each enterprise to include a disclosure below the
military service question, which shall be above the signature
line, on the form known as the Uniform Residential Loan
Application stating, `If yes, you may qualify for a VA Home
Loan. Consult your lender regarding eligibility.'.''.
(b) GAO Study.--Not later than 18 months 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 whether or not less than 80 percent of lenders using the
Uniform Residential Loan Application have included on that
form the disclaimer required under section 1329 of the
Federal Housing Enterprises Financial Safety and Soundness
Act of 1992, as added by subsection (a).
SEC. 602. HOUSING UNHOUSED DISABLED VETERANS ACT.
(a) Exclusion of Certain Disability Benefits.--Section
3(b)(4)(B) of the United States Housing Act of 1937 (42
U.S.C. 1437a(b)(4)(B)) is amended--
(1) by redesignating clauses (iv) and (v) as clauses (vi)
and (vii), respectively; and
(2) by inserting after clause (iii) the following:
``(iv) for the purpose of determining income eligibility
with respect to the supported housing program under section
8(o)(19), any disability benefits received under chapter 11
or chapter 15 of title 38, United States Code, received by a
veteran, except that this exclusion shall not apply to the
income in the definition of adjusted income;
``(v) for the purpose of determining income eligibility
with respect to any household receiving rental assistance
under the supported housing program under section 8(o)(19) as
it relates to eligibility for other types of housing
assistance, any disability benefits received under chapter 11
or chapter 15 of title 38, United States Code, received by a
veteran, but such amounts shall not be excluded from income
when determining adjusted income;''.
(b) Treatment of Certain Disability Benefits.--
(1) In general.--When determining the eligibility of a
veteran to rent a residential dwelling unit constructed on
Department property on or after the date of enactment of this
Act, for which assistance is provided as part of a housing
assistance program administered by the Secretary, the
Secretary shall exclude from income any disability benefits
received under chapter 11 or chapter 15 of title 38, United
States Code by such person.
(2) Definitions.--In this subsection:
(A) Department property.--The term ``Department property''
has the meaning given the term in section 901 of title 38,
United States Code.
(B) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
SEC. 603. VETERANS AFFAIRS LOAN INFORMED DISCLOSURE (VALID)
ACT.
(a) FHA Informed Consumer Choice Disclosure.--
(1) Inclusion of information relating to va loans.--
Subparagraph (A) of section 203(f)(2) of the National Housing
Act (12 U.S.C. 1709(f)(2)(A)) is amended--
(A) by striking ``ratio in'' and inserting ``ratio--
``(i) in''; and
(B) by adding at the end the following:
``(ii) in connection with a loan guaranteed or insured
under chapter 37 of title 38, United States Code, assuming
prevailing interest rates; and''.
(2) Rule of construction.--Nothing in the amendments made
by paragraph (1) shall be construed to require an original
lender to determine whether a prospective borrower is
eligible for any loan included in the notice required under
section 203(f) of the National Housing Act (12 U.S.C.
1709(f)).
(b) Military Service Question.--
(1) In general.--Subpart A of part 2 of subtitle A of the
Federal Housing Enterprises Financial Safety and Soundness
Act of 1992 (12 U.S.C. 4541 et seq.), as amended by section
601(a) of this Act, is amended by adding at the end the
following:
``SEC. 1330. UNIFORM RESIDENTIAL LOAN APPLICATION.
``Not later than 6 months after the date of enactment of
this section, the Director shall require each enterprise to--
``(1) include a military service question on the form known
as the Uniform Residential Loan Application to include
selection options of `Yes', `No', and ``Prefer Not To
Answer''; and
``(2) position the question described in paragraph (1)
above the signature line of the Uniform Residential Loan
Application.''.
(2) Rulemaking.--Not later than 6 months after the date of
enactment of this Act, the Director of the Federal Housing
Finance Agency shall issue a rule to carry out the amendment
made by this section.
TITLE VII--OVERSIGHT AND ACCOUNTABILITY
SEC. 701. REQUIRING ANNUAL TESTIMONY AND OVERSIGHT FROM
HOUSING REGULATORS.
Section 7 of the Department of Housing and Urban
Development Act (42 U.S.C. 3535) is amended by adding at the
end the following:
``(u) Annual Testimony.--The Secretary shall appear before
the Committee on Banking, Housing, and Urban Affairs of the
Senate and the Committee on Financial Services of the House
of Representatives at an annual hearing and present testimony
regarding the operations of the Department during the
preceding year, including--
``(1) the current programs and operations of the
Department;
``(2) the physical condition of all public housing and
other housing assisted by the Department;
``(3) the financial health of the mortgage insurance funds
of the Federal Housing Agency;
``(4) oversight by the Department of grantees and
subgrantees for purposes of preventing waste, fraud, and
abuse;
``(5) the progress made by the Federal Government in ending
the affordable housing and homelessness crises;
``(6) the capacity of the Department to deliver on its
statutory mission; and
``(7) other ongoing activities of the Department, as
appropriate.''.
SEC. 702. FHA REPORTING REQUIREMENTS ON SAFETY AND SOUNDNESS.
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).''.
SEC. 703. UNITED STATES INTERAGENCY COUNCIL ON HOMELESSNESS
OVERSIGHT.
Section 203(a) of the McKinney-Vento Homeless Assistance
Act (42 U.S.C. 11313(a)) is amended--
[[Page H4180]]
(1) in paragraph (1)--
(A) by striking ``Homeless Emergency Assistance and Rapid
Transition to Housing Act of 2009'' and inserting ``21st
Century ROAD to Housing Act''; and
(B) by striking ``update such plan annually'' and inserting
``submit to the President and Congress a report every year
thereafter that includes--
``(A) the status of completion of the plan; and
``(B) any modifications that were made to the plan and the
reasons for those modifications;'';
(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, if requested.''.
SEC. 704. APPRAISAL MODERNIZATION ACT.
(a) Reconsideration of Value.--
(1) Federally backed mortgage loan defined.--In this
subsection, the term ``federally backed mortgage loan'' has
the meaning given the term in section 4022 of the CARES Act
(15 U.S.C. 9056).
(2) Requirement.--The Secretary of Agriculture, the
Secretary of Veterans Affairs, the Commissioner of the
Federal Housing Administration, and the Director of the
Federal Housing Finance Agency shall each implement and
maintain requirements that creditors of a federally backed
mortgage loan have a review and resolution procedure for a
consumer-initiated reconsideration of value or subsequent
appraisal in connection with a consumer credit transaction
secured by a consumer's principal dwelling.
(b) Public Appraisal Database.--
(1) Covered agencies defined.--In this subsection, the term
``covered agencies'' means--
(A) the Federal Housing Finance Agency, on behalf of the
Federal National Mortgage Association and the Federal Home
Loan Mortgage Corporation;
(B) the Department of Housing and Urban Development,
including the Federal Housing Administration;
(C) the Department of Agriculture; and
(D) the Department of Veterans Affairs.
(2) Feasibility report.--Not later than 240 days after the
date of enactment of this Act, the Comptroller General of the
United States shall submit to Congress a public report
assessing the feasibility of creating a publicly available
appraisal database that consists of a searchable and
downloadable appraisal-level public use file that
consolidates appraisal data held or aggregated by covered
agencies, including--
(A) the costs and benefits associated with establishing and
maintaining the public database;
(B) the benefits and risks associated with the Federal
Housing Finance Agency or the Bureau of Consumer Financial
Protection being responsible for the public database and
whether there is another Federal agency best suited for
implementing and administering such database;
(C) any safety and soundness, antitrust, or consumer
privacy-related risks associated with making certain
appraisal data factors publicly available, including
whether--
(i) there are any existing legal requirements, including
under the Home Mortgage Disclosure Act of 1975 (12 U.S.C.
2801 et seq.) and section 552 of title 5, United States Code
(commonly known as the ``Freedom of Information Act''), or
additional actions Federal agencies could take to mitigate
such risks, such as modifying or aggregating data or
eliminating personally identifiable information; and
(ii) there are any data factors that, if made public, may
violate conduct, ethics, or other professional standards as
they relate to appraisals and appraisal or valuation
professionals;
(D) the feasibility of consolidating or matching appraisal
data held by covered agencies with corresponding data that
are required and made public under the Home Mortgage
Disclosure Act of 1975 (12 U.S.C. 2801 et seq.);
(E) whether the publication of any appraisal data factors
may pose unfair business advantages within the valuation
industry;
(F) the feasibility of including all valuation data held by
covered agencies, including data produced by automated
valuation models;
(G) the feasibility and benefits of making the full
appraisal dataset, including any modified fields, available
to--
(i) Federal agencies, including for purposes related to
enforcement and supervision responsibilities;
(ii) relevant State licensing, supervision, and enforcement
agencies and State attorneys general;
(iii) approved researchers, including academics and
nonprofit organizations that, in connection with their
mission, work to ensure the fairness and consistency of home
valuations, including appraisals; and
(iv) any other entities identified by the Comptroller
General as having a compelling use for disaggregated data;
(H) what appraisal data are already available in the public
domain; and
(I) the feasibility of incorporating legacy data held by
covered agencies during the period beginning on January 1,
2017, and ending on the date of enactment of this Act, and
whether there are specific data points not easily
consolidated or matched, as described in subparagraph (D),
with more recent data.
(3) Purpose.--The database described in paragraph (2) shall
be used to provide the public, the Federal Government, and
State governments with residential real estate appraisal data
to help determine whether financial institutions, appraisal
management companies, appraisers, valuation technologies,
such as automated valuation models, and other valuation
professionals are effectively serving the entire housing
market.
(4) Consultation.--As part of the information used in the
report required under paragraph (2), the Comptroller General
of the United States shall conduct interviews with--
(A) relevant Federal agencies;
(B) relevant State licensing, supervision, and enforcement
agencies and State attorneys general;
(C) appraisers and other home valuation industry
professionals;
(D) mortgage lending institutions;
(E) fair housing and fair lending experts; and
(F) any other relevant stakeholders as determined by the
Comptroller General.
(5) Hearing.--Upon the completion of the report under
paragraph (2), the Committee on Banking, Housing, and Urban
Affairs of the Senate and the Committee on Financial Services
of the House of Representatives shall each hold a hearing on
the findings of the report and the feasibility of
establishing a public appraisal-level appraisal database.
TITLE VIII--ACCOUNTABILITY, COORDINATION, STUDIES, AND REPORTING
SEC. 801. HUD-USDA-VA INTERAGENCY COORDINATION ACT.
(a) Memorandum of Understanding.--The Secretary of Housing
and Urban Development, the Secretary of Agriculture, and the
Secretary of Veterans Affairs shall establish a memorandum of
understanding, or other appropriate interagency agreement, to
share relevant housing-related research and market data that
facilitate evidence-based policymaking.
(b) Interagency Report.--
(1) Report.--Not later than 180 days after the date of
enactment of this Act, the Secretary of Housing and Urban
Development, the Secretary of Agriculture, and the Secretary
of Veterans Affairs shall jointly submit to the Committee on
Banking, Housing, and Urban Affairs of the Senate and the
Committee on Financial Services of the House of
Representatives a report containing--
(A) a description of opportunities for increased
collaboration between the Secretary of Housing and Urban
Development, the Secretary of Agriculture, and the Secretary
of Veterans Affairs to reduce inefficiencies in housing
programs;
(B) a list of Federal laws (including regulations) that
adversely affect the availability and affordability of new
construction of assisted housing and single-family and
multifamily residential housing subject to mortgages insured
under title II of the National Housing Act (12 U.S.C. 1707 et
seq.), insured, guaranteed, or made by the Secretary of
Agriculture under title V of the Housing Act of 1949 (42
U.S.C. 1471 et seq.), or insured, guaranteed, or made by the
Secretary of Veterans Affairs under chapter 37 of title 38,
United States Code; and
(C) recommendations for Congress regarding the Federal laws
(including regulations) described in subparagraph (B).
(2) Publication.--The report required under paragraph (1)
shall, prior to submission under this subsection, be
published in the Federal Register and open for comment for a
period of 30 days.
SEC. 802. STREAMLINING RURAL HOUSING ACT.
(a) In General.--Not later than 180 days after the date of
enactment of this Act, the Secretary of Housing and Urban
Development and the Secretary of Agriculture shall enter into
a memorandum of understanding to--
(1) evaluate categorical exclusions under the environmental
review process for housing projects funded by amounts from
the Department of Housing and Urban Development and the
Department of Agriculture;
(2) develop a process to designate a lead agency and
streamline adoption of Environmental Impact Statements and
Environmental Assessments approved by the other Department to
construct housing projects funded by both agencies;
(3) maintain compliance with environmental regulations
under part 58 of title 24, Code of Federal Regulations, as in
effect on January 1, 2025, except as required to amend, add,
or remove categorical exclusions identified under section
58.35 of title 24, Code of Federal Regulations, through
standard rulemaking procedures; and
(4) evaluate the feasibility of a joint physical inspection
process for housing projects funded by amounts from the
Department of Housing and Urban Development and the
Department of Agriculture.
(b) Report.--Not later than 1 year after the date of
enactment of this Act, the Secretary of Housing and Urban
Development and the Secretary of Agriculture shall submit to
the Committee on Banking, Housing, and Urban Affairs of the
Senate and the Committee on Financial Services of the House
of Representatives a report that includes recommendations for
legislative, regulatory, or administrative actions--
(1) to improve the efficiency and effectiveness of housing
projects funded by amounts from the Department of Housing and
Urban Development and the Department of Agriculture; and
(2) that do not materially, with respect to residents of
housing projects described in paragraph (1)--
(A) reduce the safety of those residents;
(B) shift long-term costs onto those residents; or
(C) undermine the environmental standards of those
residents.
SEC. 803. 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
[[Page H4181]]
conduct a study on the implementation of work requirements
implemented prior to the date of enactment of this Act by
public housing agencies described in paragraph (4)
participating in the Moving to Work demonstration authorized
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).
(2) Scope.--The study required under paragraph (1) shall--
(A) consider the short-, medium-, and long-term benefits
and challenges of work requirements on public housing
agencies described in paragraph (4) and on program
participants who are subject to such requirements, including
the effects work requirements have on homelessness rates,
poverty rates, asset building, earnings growth, job
attainment and retention, and public housing agencies'
administrative capacity; and
(B) include quantitative and qualitative evidence,
including interviews with program participants described in
subparagraph (A) and their respective resident councils.
(3) Report.--Not later than 1 year after the date of
enactment of this Act, the Secretary shall submit to the
Committee on Banking, Housing, and Urban Affairs of the
Senate and the Committee on Financial Services of the House
of Representatives a report on the initial findings of the
study required under paragraph (1).
(4) 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 demonstration authorized 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), submit a proposal identifying
work requirements as an innovative proposal.
(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)(4) 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)(4).
SEC. 804. GAO STUDIES.
(a) Workforce Housing Study.--
(1) Middle-income household defined.--In this subsection,
the term ``middle-income household'' means a household with
an income above 80 percent but that does not exceed 120
percent of the median family income of the area, as
determined by the Secretary of Housing and Urban Development
with adjustments for smaller and larger families.
(2) Study.--Not later than 1 year 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
that--
(A) identifies obstacles middle-income households face when
looking to secure affordable housing;
(B) identifies geographic areas where housing is the most
unaffordable and unavailable for middle-income households;
(C) includes a list of Federal housing programs, including
Federal tax credits, grants, and loan programs, that are not
available to middle-income households due to their income
status, including Federal housing programs designed to
promote affordability;
(D) recommends income and other parameters to establish a
clear and consistent Federal definition for the term
``workforce housing'' for use when describing the segment of
housing that could be made available to those middle-income
households in Federal housing programs if funding
commensurate with the additional eligibility were to be made
available; and
(E) analyzes how to modify or newly develop new Federal
housing programs and incentives to include ``workforce
housing'' if funding commensurate with the additional
eligibility were to be made available.
(b) Housing for Elderly or Disabled.--Not later than 1 year
after the date of enactment of this Act, the Comptroller
General of the United States shall carry out a study and
submit to Congress a report that identifies options to remove
barriers and improve housing for persons who are elderly or
disabled, including any potential impacts of providing
capital advances for--
(1) the program for supportive housing for the elderly
under section 202 of the Housing Act of 1959 (12 U.S.C.
1701q); and
(2) the program for supportive housing for persons with
disabilities under section 811 of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 8013).
(c) Proximity of Housing to Superfund Sites.--Not later
than 1 year after the date of enactment of this Act, the
Comptroller General of the United States shall carry out a
study and submit to Congress a report that identifies how
many residential dwelling units, and how many dwelling units
that are a part of public housing (as defined in section 3(b)
of the United States Housing Act of 1937 (42 U.S.C.
1437a(b))), are located less than 1 mile from a site that is
included on the National Priorities List established pursuant
to section 105 of the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980 (42 U.S.C. 9605).
(d) Residential Heirs Property.--Not later than 1 year
after the date of enactment of this Act, the Comptroller
General of the United States shall carry out a study and
submit to the Committee on Banking, Housing, and Urban
Affairs of the Senate and the Committee on Financial Services
of the House of Representatives a report that--
(1) establishes a comprehensive definition of residential
heirs property, or family land inherited without a will or
legal documentation of ownership;
(2) examines the occurrence of and consequences to owners
of residential heirs property, and provides an estimate
regarding the number of current residential heirs properties;
(3) describes the objectives and requirements of the
Uniform Partition of Heirs Property Act as approved by the
National Conference of Commissioners on Uniform State Laws in
2010;
(4) details the various resources that may be available to
the owners of residential heirs properties, including housing
counseling, legal services, and financial assistance to
resolve residential heirs property title issues from the
Federal Government, nonprofit organizations, and institutions
of higher education; and
(5) makes recommendations with respect to how to reduce the
number of residential heirs properties, including--
(A) by incentivizing States and other jurisdictions which
enact or adopt the Uniform Partition of Heirs Property Act or
similar such reforms;
(B) by awarding grants to States and other jurisdictions to
assist residents of those States and jurisdictions to
establish and document property ownership rights or settle a
decedent's estate;
(C) by awarding grants to entities that--
(i) provide housing counseling, legal assistance, and
financial assistance to home-owners and their heirs relating
to title clearing and home retention efforts of heirs'
property; and
(ii) target services to low- and moderate-income persons or
provide services in neighborhoods that have a high
concentration of low- and moderate-income persons; and
(D) by conducting other activities that assist individuals
to clear title with respect to heirs' property and with
general estate planning.
SEC. 805. IMPROVING PUBLIC HOUSING AGENCY ACCOUNTABILITY.
(a) Definitions.--In this section:
(1) Covered public housing agency.--The term ``covered
public housing agency'' means a public housing agency (as
defined in section 3(b) of the United States Housing Act of
1937 (42 U.S.C. 1437a(b))) for which an administrative or
judicial receiver or Federal monitor was appointed.
(2) Inspector general.--The term ``Inspector General''
means the Inspector General of the Department of Housing and
Urban Development.
(3) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(b) Required Notice.--The Secretary shall require each
covered public housing agency to provide a notice each year
to the Secretary that--
(1) indicates that if a receiver or Federal monitor remains
appointed for the covered public housing agency as of October
1 of the calendar year to which the notice relates;
(2) provides the date on which the receiver or Federal
monitor was first appointed and the projected date, if known,
the appointment of the receiver or Federal monitor will be
terminated; and
(3) identifies the current receiver or Federal monitor
appointed to oversee the public housing agency.
(c) Federal Monitor and Receiver Transparency.--
(1) In general.--Notwithstanding any other provision of
law, not later than October 1 of each year, each receiver or
Federal monitor that is currently appointed to oversee a
covered public housing agency shall provide to the Committee
on Financial Services of the House of Representatives and the
Committee on Banking, Housing, and Urban Affairs of the
Senate a written assessment that--
(A) describes the management and oversight activities of
the receiver or Federal monitor for the covered public
housing agency;
(B) identifies the significant factors that led to the
appointment of the receiver or Federal monitor for the
covered public housing agency;
(C) identifies the factors that remain unresolved at the
covered public housing agency that have led to the continued
oversight of the receiver or Federal monitor; and
(D) includes a timeline developed by the receiver or
Federal monitor that projects when the factors identified
under subparagraphs (B) and (C) will be resolved.
(2) Additional information.--In addition to the written
assessment required in paragraph (1), upon written request by
the Committee on Banking, Housing, and Urban Affairs of the
Senate or the Committee on Financial Services of the House of
Representatives, each receiver or Federal monitor appointed
to oversee a covered public housing agency shall promptly
furnish additional or supplemental information requested by
the Committee on Banking, Housing, and Urban Affairs of the
Senate or the Committee on Financial Services of the House of
Representatives with respect to the covered public housing
agency that such receiver or Federal monitor is appointed to
oversee, including presenting testimony upon request.
(d) Disclosure Required.--The Secretary shall, not later
than 1 year after the date of enactment of this Act, require
each covered public housing agency to publicly disclose, on
the website of the covered public housing agency, with
respect to each contract entered into by such covered public
housing agency in the preceding year, the following
information:
(1) All material information about the contract, including
the goods and service provided.
(2) The identity of the vendor selected to receive the
contract.
(3) The date of the solicitation of the contract.
(4) The relevant information pertaining to the bids and
quotes solicited for the contract.
[[Page H4182]]
(5) The name of the official who solicited the contract.
(e) Inspector General Review.--Not later than 180 days
after receiving a written request from the Committee on
Financial Services of the House of Representatives or the
Committee on Banking, Housing, and Urban Affairs of the
Senate, the Inspector General shall provide to the requesting
committee an analysis of--
(1) the status of any covered public housing agency's
compliance with any agreements entered into between the
covered public housing agency and the Department of Housing
and Urban Development, including specific areas of deficiency
and progress toward compliance;
(2) a review of actions taken by the receiver or Federal
monitor appointed to oversee a covered public housing agency
and any private sector housing development partners pursuant
to such agreement, including any gaps in oversight by the
receiver or Federal monitor;
(3) an assessment of the physical conditions of housing
provided by the covered public housing agency, including the
status of the covered public housing agency's compliance with
relevant health and safety requirements;
(4) an examination of any allegations of waste, fraud,
abuse or violations of Federal law committed by employees or
contractors of the covered public housing agency;
(5) any additional pertinent information, as determined
necessary and appropriate by the inspector general; and
(6) any recommendations of the inspector general that
relate to how to improve the compliance of the covered public
housing agency with any agreements entered into with the
Department of Housing and Urban Development or enhance the
oversight of the receiver or Federal monitor over such
covered public housing agency.
TITLE IX--STRENGTHENING COMMUNITY BANKS' ROLE IN HOUSING
SEC. 901. COMMUNITY BANK DEPOSIT ACCESS.
(a) In General.--Section 29 of the Federal Deposit
Insurance Act (12 U.S.C. 1831f) is amended by adding at the
end the following:
``(j) Limited Exception for Custodial Deposits.--
``(1) In general.--Custodial deposits of an eligible
institution shall not be considered to be funds obtained,
directly or indirectly, by or through a deposit broker to the
extent that the total amount of such custodial deposits does
not exceed an amount equal to 20 percent of the total
liabilities of the eligible institution.
``(2) Definitions.--In this subsection:
``(A) Custodial deposit.--The term `custodial deposit'
means a deposit that is not deposited at an insured
depository institution in return for fees paid by the insured
depository institution pursuant to an agreement with a third
party and that would otherwise be considered to be obtained,
directly or indirectly, by or through a deposit broker, if
the deposit is deposited at 1 or more insured depository
institutions, for the purpose of providing or maintaining
deposit insurance for the benefit of a third party, by or
through any of the following, each acting in a formal
custodial or fiduciary capacity for the benefit of a third
party:
``(i) An insured depository institution serving as agent,
trustee, or custodian.
``(ii) A trust entity controlled by an insured depository
institution serving as agent, trustee, or custodian.
``(iii) A State-chartered trust company serving as agent,
trustee, or custodian.
``(iv) A plan administrator or investment advisor, acting
in a formal custodial or fiduciary capacity for the benefit
of a plan.
``(B) Eligible institution.--The term `eligible
institution' means an insured depository institution that
accepts custodial deposits, if the insured depository
institution has less than $10,000,000,000 in total assets as
reported on the consolidated report of condition and income
as reported quarterly to the appropriate Federal banking
agency and--
``(i)(I) when most recently examined under section 10(d)
was assigned a composite rating of 1, 2, or 3 under the
Uniform Financial Institutions Rating System (or an
equivalent rating under a comparable rating system); and
``(II) is well capitalized; or
``(ii) has obtained a waiver pursuant to subsection (c).
``(C) Plan.--The term `plan' has the meaning given the term
in section 3 of the Employee Retirement Income Security Act
of 1974 (29 U.S.C. 1002).
``(D) Plan administrator.--The term `plan administrator'
has the meaning given the term `administrator' in section 3
of the Employee Retirement Income Security Act of 1974 (29
U.S.C. 1002).
``(E) Well capitalized.--The term `well capitalized' has
the meaning given the term in section 38(b).''.
(b) Interest Rate Restriction.--Section 29 of the Federal
Deposit Insurance Act (12 U.S.C. 1831f), as amended by
subsection (a), is further amended by adding at the end the
following:
``(k) Restriction on Interest Rate Paid on Certain
Custodial Deposits.--
``(1) Definitions.--In this subsection--
``(A) the terms `custodial deposit', `eligible
institution', and `well capitalized' have the meanings given
those terms in subsection (j); and
``(B) the term `covered insured depository institution'
means an insured depository institution that while acting as
an eligible institution under subsection (j), accepts
custodial deposits while not well capitalized.
``(2) Prohibition.--A covered insured depository
institution may not pay a rate of interest on custodial
deposits that are accepted while not well capitalized that,
at the time the funds or custodial deposits are accepted,
significantly exceeds the limit set forth in paragraph (3).
``(3) Limit on interest rates.--The limit on the rate of
interest referred to in paragraph (2) shall be not greater
than--
``(A) the rate paid on deposits of similar maturity in the
normal market area of the covered insured depository
institution for deposits accepted in the normal market area
of the covered insured depository institution; or
``(B) the national rate paid on deposits of comparable
maturity, as established by the Corporation, for deposits
accepted outside the normal market area of the covered
insured depository institution.''.
SEC. 902. KEEPING DEPOSITS LOCAL.
(a) Amount of Reciprocal Deposits That Are Not Considered
to Be Funds Obtained by or Through a Deposit Broker.--Section
29(i) of the Federal Deposit Insurance Act (12 U.S.C.
1831f(i)) is amended by striking paragraph (1) and inserting
the following:
``(1) In general.--The sum of the following amounts of
reciprocal deposits of an agent institution shall not be
considered to be funds obtained, directly or indirectly, by
or through a deposit broker:
``(A) An amount equal to 50 percent of the portion of the
total liabilities of the agent institution that is less than
or equal to $1,000,000,000.
``(B) An amount equal to 40 percent of the portion, if any,
of the total liabilities of the agent institution that is
greater than $1,000,000,000, but less than or equal to
$10,000,000,000.
``(C) An amount equal to 30 percent of the portion, if any,
of the total liabilities of the agent institution that is
greater than $10,000,000,000, but less than or equal to
$96,333,333,333.''.
(b) Definition of Agent Institution.--Section
29(i)(2)(A)(i)(I) of the Federal Deposit Insurance Act (12
U.S.C. 1831f(i)(2)(A)(i)) is amended by striking ``was found
to have a composite condition of outstanding or good'' and
inserting ``was assigned a CAMELS rating of 1, 2, or 3 under
the Uniform Financial Institutions Rating System (or an
equivalent rating under a comparable rating system)''.
(c) Reciprocal Deposits Study.--
(1) In general.--The Federal Deposit Insurance Corporation,
in consultation with the Board of Governors of the Federal
Reserve System, shall carry out a study on reciprocal
deposits.
(2) Contents.--The study required under paragraph (1) shall
include--
(A) an analysis of how reciprocal deposits have performed
since 2018, which shall include--
(i) the use of quantitative and qualitative data;
(ii) a breakdown of the usage of reciprocal deposits by
size of insured depository institution;
(iii) the usage of reciprocal deposits during periods of
stress; and
(iv) an analysis, to the extent practicable, of end-user
depositors, such as municipalities, businesses, and nonprofit
organizations, that drive demand for reciprocal products;
(B) an analysis, to the extent practicable, of how
reciprocal deposits compare to other deposit arrangements;
and
(C) an analysis of the benefits and potential risks of
reciprocal deposits.
(3) Report.--Not later than 6 months after the date of
enactment of this Act, the Federal Deposit Insurance
Corporation shall issue a report to the Committee on
Financial Services of the House of Representatives and the
Committee on Banking, Housing, and Urban Affairs of the
Senate containing all findings and determinations made in
carrying out the study required under paragraph (1).
SEC. 903. TAILORED REGULATORY UPDATES FOR SUPERVISORY
TESTING.
Section 10(d) of the Federal Deposit Insurance Act (12
U.S.C. 1820(d)) is amended--
(1) in paragraph (4)(A), by striking ``$3,000,000,000'' and
inserting ``$6,000,000,000''; and
(2) in paragraph (10), by striking ``$3,000,000,000'' and
inserting ``$6,000,000,000''.
SEC. 904. CREDIT UNION BOARD MODERNIZATION.
Section 113 of the Federal Credit Union Act (12 U.S.C.
1761b) is amended--
(1) by striking ``monthly'' each place such term appears;
(2) in the matter preceding paragraph (1), by striking
``The board of directors'' and inserting the following:
``(a) In General.--The board of directors'';
(3) in subsection (a) (as so designated), by striking
``shall meet at least once a month and''; and
(4) by adding at the end the following:
``(b) Meetings.--The board of directors of a Federal credit
union shall meet as follows:
``(1) With respect to a de novo Federal credit union, not
less frequently than monthly during each of the first five
years of the existence of such Federal credit union.
``(2) Not less than six times annually, with at least one
meeting held during each fiscal quarter, with respect to a
Federal credit union--
``(A) with a composite rating of either 1 or 2 under the
Uniform Financial Institutions Rating System (or an
equivalent rating under a comparable rating system); and
``(B) with a capability of management rating under such
composite rating of either 1 or 2.
``(3) Not less frequently than once a month, with respect
to a Federal credit union--
``(A) with a composite rating of either 3, 4, or 5 under
the Uniform Financial Institutions Rating System (or an
equivalent rating under a comparable rating system); or
``(B) with a capability of management rating under such
composite rating of either 3, 4, or 5.''.
[[Page H4183]]
SEC. 905. SYSTEMIC RISK AUTHORITY TRANSPARENCY.
(a) GAO Review.--Section 13(c)(4)(G)(iv) of the Federal
Deposit Insurance Act (12 U.S.C. 1823(c)(4)(G)(iv)) is
amended to read as follows:
``(iv) GAO review.--
``(I) In general.--The Comptroller General of the United
States shall, not later than 60 days after a determination is
made under clause (i), and again 180 days thereafter, review
and report to the Congress on the determination under clause
(i), including--
``(aa) the basis for the determination;
``(bb) the purpose for which any action was taken pursuant
to such clause;
``(cc) the likely effect of the determination and such
action on the incentives and conduct of insured depository
institutions and uninsured depositors;
``(dd) any mismanagement by the executives and board of the
insured depository institution that contributed to the
failure of the insured depository institution;
``(ee) a review of the compensation practices of the
insured depository institution;
``(ff) any supervisory or regulatory shortcomings with
respect to the appropriate Federal banking agency of the
insured depository institution;
``(gg) any actions taken by the Federal banking regulators,
Financial Stability Oversight Council, Department of the
Treasury, and other relevant financial regulators in relation
to the failure of the insured depository institution; and
``(hh) any additional relevant entities or activities that
may have contributed to the failure of the insured depository
institution, including with respect to auditing, accounting,
credit rating agencies, investment bank underwriters, and
emergency liquidity options such as loans from the Federal
reserve banks or advances through the Federal Home Loan Bank
system.
``(II) Rule of construction.--Nothing in this clause or a
report issued pursuant to this clause may be construed to
limit the authority of a Federal agency to enforce violations
of Federal statutes, rules, or orders.''.
(b) Appropriate Federal Banking Agency Report.--Section
13(c) of the Federal Deposit Insurance Act (12 U.S.C.
1823(c)) is amended by adding at the end the following:
``(12) Appropriate federal banking agency report.--
``(A) In general.--The appropriate Federal banking agency
of an insured depository institution about which a
determination is made under paragraph (4)(G)(i) shall, not
later than 90 days after the date of such determination, and
again 210 days thereafter, submit a report to the Congress
that discloses the following:
``(i) Subject to such redactions as the appropriate Federal
banking agency determines appropriate to protect personally
identifiable information about customers and other financial
institutions (as such term is defined under section
11(e)(9)(D))--
``(I) all reports of examination and inspection that relate
to the failed insured depository institution in the previous
3-year period;
``(II) all formal communications of a material supervisory
determination conveyed to the failed insured depository
institution in the previous 3-year period; and
``(III) any additional exam reports and correspondence that
the appropriate Federal banking agency determines may be
relevant to the failure of the insured depository
institution.
``(ii) An examination of any mismanagement by the
executives and board of the insured depository institution
that contributed to the failure of the insured depository
institution.
``(iii) Any supervisory or regulatory shortcomings by such
appropriate Federal banking agency with respect to the
insured depository institution.
``(iv) Any dynamics that the appropriate Federal banking
agency determines may have contributed to the failure of the
insured depository institution.
``(v) Any supervisory, regulatory, or legislative
recommendations such appropriate Federal banking agency may
have to improve the safety and soundness of similarly
situated insured depository institutions, the banking system,
and financial stability.
``(B) Protection of sensitive information.--
``(i) Effect on privilege.--The provision of any
information by a Federal banking agency under this paragraph
may not be construed as--
``(I) waiving, destroying, or otherwise affecting any
privilege applicable to the information; or
``(II) waiving any exemption applicable to the information
under section 552 of title 5, United States Code (commonly
known as the `Freedom of Information Act').
``(ii) Transparency.--
``(I) In general.--A Federal banking agency shall publish
materials contained in a report required under subparagraph
(A) to the fullest extent possible to promote transparency.
``(II) Consultation on omitting materials.--If a Federal
banking agency determines particular materials described
under subclause (I) should not be published, the Federal
banking agency shall consult with the chair and ranking
member of the Committee on Financial Services of the House of
Representatives and the chair and ranking member of the
Committee on Banking, Housing, and Urban Affairs of the
Senate.
``(III) Omitting materials.--If, after the consultation
required under subclause (II), the Federal banking agency
determines there is a substantial public interest in not
publishing such materials, the Federal banking agency shall
provide those materials to the Committee on Financial
Services of the House of Representatives and the Committee on
Banking, Housing, and Urban Affairs of the Senate with a
written explanation describing the reasons for not publishing
those materials.
``(iii) Privilege.--For purposes of this subparagraph, the
term `privilege' includes any work-product, attorney-client,
or other privilege recognized under Federal or State law.
``(C) Report extension.--A Federal banking agency may
extend a deadline described under subparagraph (A) for an
additional 60 days, if the Federal banking agency--
``(i) faces ongoing circumstances that require the Federal
banking agency to prioritize activities to promote stability
of the United States banking system; and
``(ii) notifies the Congress of such extension and the
reasons for such extension.
``(D) Consolidated reports.--A Federal banking agency may
consolidate multiple reports required under this paragraph so
long as the individual reports being consolidated all meet
the timing requirements under this paragraph.
``(E) Rule of construction.--Nothing in this paragraph or
reports or materials provided pursuant to this paragraph may
be construed to limit the authority of a Federal agency to
enforce violations of Federal statutes, rules, or orders.''.
SEC. 906. ADVANCING THE MENTOR-PROTEGE PROGRAM FOR SMALL
FINANCIAL INSTITUTIONS.
Section 308 of the Financial Institutions Reform, Recovery,
and Enforcement Act of 1989 (12 U.S.C. 1463 note) is amended
by adding at the end the following new subsection:
``(d) Financial Agent Mentor-protege Program.--
``(1) In general.--The Secretary shall establish a program
to be known as the `Financial Agent Mentor-Protege Program'
(in this subsection referred to as the `Program') under which
a financial agent designated by the Secretary or a large
financial institution may serve as a mentor, under guidance
or regulations prescribed by the Secretary, to a small
financial institution to allow such small financial
institution--
``(A) to be prepared to perform as a financial agent; or
``(B) to improve capacity to provide services to the
customers of the small financial institution.
``(2) Outreach.--The Secretary shall hold outreach events
to promote the participation of financial agents, large
financial institutions, and small financial institutions in
the Program at least once a year.
``(3) Exclusion.--The Secretary shall issue guidance or
regulations to establish a process under which a financial
agent, large financial institution, or small financial
institution may be excluded from participation in the
Program.
``(4) Report.--The Secretary shall report to Congress
information pertaining to the Program, including--
``(A) the number of financial agents, large financial
institutions, and small financial institutions participating
in such Program; and
``(B) the number of outreach events described in paragraph
(2) held during the year covered by such report.
``(5) Definitions.--In this subsection:
``(A) Financial agent.--The term `financial agent' means
any national banking association designated by the Secretary
to be employed as a financial agent of the Government.
``(B) Large financial institution.--The term `large
financial institution' means any entity regulated by the
Comptroller of the Currency, the Board of Governors of the
Federal Reserve System, the Federal Deposit Insurance
Corporation, or the National Credit Union Administration that
has total consolidated assets greater than or equal to
$50,000,000,000.
``(C) Rural depository institution.--The term `rural
depository institution' means a depository institution (as
defined in section 3 of the Federal Deposit Insurance Act (12
U.S.C. 1813))--
``(i) with total consolidated assets of less than
$10,000,000,000; and
``(ii) located in a rural area, as defined under section
1026.35(b)(2)(iv)(A) of title 12, Code of Federal
Regulations.
``(D) Secretary.--The term `Secretary' means the Secretary
of the Treasury.
``(E) Small financial institution.--The term `small
financial institution' means--
``(i) any entity regulated by the Comptroller of the
Currency, the Board of Governors of the Federal Reserve
System, the Federal Deposit Insurance Corporation, or the
National Credit Union Administration that has total
consolidated assets less than or equal to $2,000,000,000;
``(ii) a minority depository institution; or
``(iii) a rural depository institution.''.
SEC. 907. AMERICAN ACCESS TO BANKING.
(a) Streamlining Application Process and Review of Capital
Raising by De Novo Regulated Institutions.--
(1) In general.--Each of the Federal financial institutions
regulatory agencies shall--
(A) for the purpose of streamlining the process of applying
to become a de novo regulated institution, conduct a review
of any application forms related to such process;
(B) to the extent practicable, gather information needed
from applicants seeking to become a de novo regulated
institution from other Federal Government agencies or public
sources to minimize information requests of such applicants;
and
(C) in consultation with the Securities and Exchange
Commission, review how de novo regulated institutions raise
capital while maintaining investor protections, including the
impact of--
(i) general capital raising restrictions; and
(ii) capital raising restrictions related to individuals
who are not accredited investors.
(2) Report.--Not later than 1 year after the date of
enactment of this Act, and annually for 5 years thereafter,
each of the Federal financial institutions regulatory
agencies shall submit to the Committee on Financial Services
of the
[[Page H4184]]
House of Representatives and the Committee on Banking,
Housing, and Urban Affairs of the Senate and publish on a
public website of such agency a report that contains--
(A) a description of the actions taken by such agency
pursuant to paragraph (1); and
(B) as appropriate, any administrative or legislative
recommendations with respect to the purpose described in
paragraph (1)(C).
(b) Improving Communication With De Novo Regulated
Institutions.--
(1) In general.--Each of the Federal financial institutions
regulatory agencies shall, at the request of an applicant to
become a de novo regulated institution, designate an employee
of the agency as a caseworker, who may perform such duty in
addition to the other duties of the employee.
(2) Caseworker duties.--Each caseworker described in
paragraph (1) shall, to the maximum extent practicable--
(A) meet with the lead organizers applying to become a de
novo regulated institution to provide a tutorial with respect
to the application process; and
(B) be the primary point of contact of the respective
Federal financial institutions regulatory agency for such
organizers during the application process.
(3) New caseworker.--Each agency described in paragraph (1)
may designate a new caseworker, as appropriate, to support
continuity based on staffing and responsibilities assigned to
the current caseworker.
(c) De Novo Mentor-protege Partnerships.--
(1) In general.--At the request of an institution that
seeks to become a de novo regulated institution, each of the
Federal financial institutions regulatory agencies shall, to
the maximum extent practicable, provide a list to such
institution of similar types of institutions that--
(A) were recently approved to become a de novo regulated
institution; and
(B) are interested in volunteering to serve as a mentor to
provide advice about the de novo application process.
(2) Mentorship information.--Not later than 1 year after
the date of enactment of this Act, each of the Federal
financial institutions regulatory agencies shall provide
public information and directions on how an institution may
request a mentor or serve as a mentor as described in
paragraph (1).
(d) State and Stakeholder Engagement Plan.--
(1) In general.--Each of the Federal financial institutions
regulatory agencies shall develop a plan to--
(A) regularly consult with State regulators to promote
cooperation between State and Federal banking and credit
union agencies in the creation of de novo regulated
institutions, including responding to any State regulator
that requests assistance on how a State-chartered financial
institution can request Federal insurance;
(B) regularly consult with stakeholders, including
applicants to become de novo regulated institutions and
recently approved regulated institutions, to inform any
reforms that may support the creation of de novo regulated
institutions, including rural institutions, community
development financial institutions, and minority depository
institutions; and
(C) provide guidance, training material, and regular
workshops to assist any interested parties to understand such
agencies' processes.
(2) Submission to congress.--
(A) In general.--Not later than 2 years after the date of
enactment of this Act, and every 5 years thereafter, each of
the Federal financial institutions regulatory agencies shall
submit to the Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing, and
Urban Affairs of the Senate the respective plan of such
agency described in paragraph (1).
(B) Public comment.--With respect to developing the plan
described in paragraph (1), each of the Federal financial
institutions regulatory agencies shall--
(i) provide an opportunity for public comments; and
(ii) take such public comments into consideration.
(e) Definitions.--
(1) In general.--In this section:
(A) Federal banking agency.--The term ``Federal banking
agency'' has the meaning given the term in section 3 of the
Federal Deposit Insurance Act (12 U.S.C. 1813).
(B) Federal financial institutions regulatory agencies.--
The term ``Federal financial institutions regulatory
agencies'' has the meaning given the term in section 1003 of
the Federal Financial Institutions Examination Council Act of
1978 (12 U.S.C. 3302).
(C) Regulated institution.--The term ``regulated
institution'' means--
(i) with respect to a Federal banking agency, a depository
institution (as such term is defined in section 3 of the
Federal Deposit Insurance Act (12 U.S.C. 1813)) for which the
Federal banking agency is the appropriate Federal banking
agency (as such term is defined in such section 3); and
(ii) with respect to the National Credit Union
Administration, an insured credit union (as such term is
defined in section 101 of the Federal Credit Union Act (12
U.S.C. 1752)).
(D) State.--The term ``State'' means each of the several
States, the District of Columbia, and each territory of the
United States.
(E) State regulator.--The term ``State regulator'' means--
(i) with respect to a Federal banking agency, a State
banking regulator; and
(ii) with respect to the National Credit Union
Administration, the State regulatory agency having
jurisdiction over a State credit union (as such term is
defined in section 101 of the Federal Credit Union Act (12
U.S.C. 1752)).
(2) Rule of construction.--For purposes of this section,
the process of applying to become a de novo regulated
institution shall include the process of applying for Federal
deposit insurance, Federal share insurance, or membership in
the Federal Reserve System.
SEC. 908. PROMOTING NEW BANK FORMATION.
(a) Pilot Phase-in of Capital Standards.--The Federal
banking agencies may issue rules that provide for a 2-year
phase-in period for a qualifying community bank or its
depository institution holding company to meet any Federal
capital requirements that would otherwise be applicable to
the qualifying community bank or its depository institution
holding company, beginning on--
(1) the date on which the qualifying community bank became
an insured depository institution; or
(2) in the case of its depository institution holding
company, the date on which the qualifying community bank of
the depository institution holding company became an insured
depository institution.
(b) Pilot Changes to Business Plans.--
(1) In general.--During the 2-year period beginning on the
date on which a qualifying community bank became an insured
depository institution, the qualifying community bank or its
depository institution holding company may request to deviate
from a business plan that has been approved by the
appropriate Federal banking agency by submitting a request to
such agency pursuant to this section.
(2) Review of changes.--The appropriate Federal banking
agency shall, not later than the end of the 180-day period
beginning on the receipt of a request under paragraph (1)--
(A) approve, conditionally approve, or deny such request;
and
(B) notify the applicant of such decision and, if the
agency denies the request--
(i) provide the applicant with the reason for such denial;
and
(ii) suggest changes to the request that, if adopted, would
allow the agency to approve such request.
(3) Result of failure to act.--If the appropriate Federal
banking agency fails to approve or deny a request within the
90-day period required under paragraph (2), such request
shall be deemed to be approved.
(c) Pilot Program Study.--
(1) Study.--The Federal banking agencies shall, jointly,
carry out a study on the impact of the pilot program carried
out pursuant to subsections (a) and (b) of this section on
the formation of de novo insured depository institutions,
including such institutions which are rural depository
institutions, community development financial institutions,
and minority depository institutions, taking into account
safety and soundness, promoting competition, and expanding
access to affordable financial products and services to
underserved communities.
(2) Report to congress.--Not later than December 31, 2031,
the Federal banking agencies shall, jointly, issue a report
to the Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing, and
Urban Affairs of the Senate containing all findings and
determinations made in carrying out the study required under
paragraph (1).
(d) Study on De Novo Insured Depository Institutions.--
(1) Study.--The Federal banking agencies shall, jointly,
carry out a study on--
(A) the principal causes for the low number of de novo
insured depository institutions in the 10-year period ending
on the date of enactment of this subsection;
(B) ways to promote more de novo insured depository
institutions in areas currently underserved by insured
depository institutions; and
(C) ways to ensure de novo depository institutions,
including institutions which are rural depository
institutions, community development financial institutions,
and minority depository institutions, can utilize the
Community Bank Leverage Ratio.
(2) Report to congress.--Not later than the end of the 1-
year period beginning on the date of enactment of this Act,
the Federal banking agencies shall, jointly, issue a report
to the Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing, and
Urban Affairs of the Senate containing all findings and
determinations made in carrying out the study required under
paragraph (1).
(e) Definitions.--In this section:
(1) Appropriate federal banking agency.--The term
``appropriate Federal banking agency'' has the meaning given
the term in section 3 of the Federal Deposit Insurance Act
(12 U.S.C. 1813).
(2) Depository institution.--The term ``depository
institution'' has the meaning given the term in section 3 of
the Federal Deposit Insurance Act (12 U.S.C. 1813).
(3) Depository institution holding company.--The term
``depository institution holding company'' has the meaning
given the term in section 3 of the Federal Deposit Insurance
Act (12 U.S.C. 1813).
(4) Federal banking agency.--The term ``Federal banking
agency'' has the meaning given the term in section 3 of the
Federal Deposit Insurance Act (12 U.S.C. 1813).
(5) Insured depository institution.--The term ``insured
depository institution'' has the meaning given the term in
section 3 of the Federal Deposit Insurance Act (12 U.S.C.
1813).
(6) Qualifying community bank.--The term ``qualifying
community bank'' means a depository institution that--
(A) including its holding company and all of its
subsidiaries and affiliates, has total combined assets of
less than $10,000,000,000; and
(B) became an insured depository institution between
January 1, 2026, and December 31, 2028.
[[Page H4185]]
SEC. 909. RURAL DEPOSITORIES REVITALIZATION STUDY.
(a) Study.--The Federal banking agencies shall, jointly,
carry out a study--
(1) to identify methods to improve the growth, capital
adequacy, and profitability of depository institutions in the
United States that primarily serve rural areas; and
(2) to identify Federal statutes (other than appropriations
Acts) or regulations of the Federal banking agencies that
limit--
(A) the methods identified under paragraph (1); or
(B) the establishment of de novo depository institutions in
rural areas.
(b) Report.--Not later than 1 year after the date of
enactment of this Act, the Federal banking agencies shall,
jointly, issue a report to Congress containing all findings
and determinations made in carrying out the study required
under subsection (a).
(c) Study on Rural Credit Unions.--The National Credit
Union Administration shall carry out a study--
(1) to identify methods to improve the growth, capital
adequacy, and profitability of credit unions in the United
States that primarily serve rural areas; and
(2) to identify Federal statutes (other than appropriations
Acts) or regulations of the National Credit Union
Administration that limit--
(A) the methods identified under paragraph (1); or
(B) the establishment of de novo credit unions in rural
areas.
(d) Report on Rural Credit Unions.--Not later than 1 year
after the date of enactment of this Act, the National Credit
Union Administration shall issue a report to Congress
containing all findings and determinations made in carrying
out the study required under subsection (c).
(e) Definitions.--In this section:
(1) Depository institution.--The term ``depository
institution'' has the meaning given that term in section 3 of
the Federal Deposit Insurance Act (12 U.S.C. 1813).
(2) Federal banking agencies.--The term ``Federal banking
agencies'' means the Board of Governors of the Federal
Reserve System, the Comptroller of the Currency, and the
Federal Deposit Insurance Corporation.
(3) Rural.--With respect to an area, the term ``rural'' has
the meaning given that term in section 1026.35(b)(2)(iv)(A)
of title 12, Code of Federal Regulations.
TITLE X--HOME-OWNERSHIP FOR MAIN STREET AMERICA
SEC. 1001. HOMES ARE FOR PEOPLE, NOT CORPORATIONS.
(a) Definitions.--In this section:
(1) Consumer reporting agency.--The term ``consumer
reporting agency'' has the meaning given the term in section
603 of the Fair Credit Reporting Act (15 U.S.C. 1681a)).
(2) Excepted purchase.--The term ``excepted purchase''
means any purchase of a single-family home that is--
(A) newly constructed, renovated, or a rental conversion
for sale by a large institutional investor and not as a
residence rented pending sale;
(B) pursuant to a build-to-rent program where the large
institutional investor purchases, constructs, or constructs
and retains a newly constructed single-family homes to be
managed as a rental property, whether as part of a community
made up exclusively of renter-occupied single-family homes or
as part of a community made up of single-family homes that
are both owner- and renter-occupied;
(C) pursuant to a renovate-to-rent program that--
(i) substantially rehabilitates single-family homes that do
not meet structural or core system elements of local building
codes; and
(ii) makes improvements in an aggregate dollar amount of
not less than 15 percent of the purchase price of the single-
family home;
(D) pursuant to a homeownership program that--
(i) requires rental payments and any other fees that are
not greater than those collected by the large institutional
investor on other similarly situated single-family homes not
covered by the eligible homeownership program;
(ii) is subject to a contract between the large
institutional investor and renter that shall be considered a
consumer credit transaction secured by a dwelling or real
property;
(iii) provides for positive reporting of rental payments to
consumer reporting agencies for any renter, who shall be
informed of and opts into such reporting; and
(iv) requires contribution of meaningful financial support
from the large institutional investor, including price
concessions, for the purchase of the single-family home by
the renter;
(E) pursuant to a program to boost homeownership that--
(i) provides for positive reporting of rental payments to
consumer reporting agencies for any renter, who shall be
informed of and opts into such reporting;
(ii) provides for the right of first refusal and a 30-day
``first look'' period; and
(iii) may entail the meaningful financial support from the
large institutional investor, including price concessions,
for the purchase of a single-family home by the renter
(whether it is the home the renter occupies or another home);
(F) in connection with the satisfaction of debts previously
contracted in good faith and where the large institutional
investor has the right to repossess the single-family home
under such contract;
(G) undertaken by a mortgage servicer, lender, or other
entity that has a legal right to a single-family home, for
the purpose of loss mitigation or compliance with servicing
or investor obligations, and not as a long-term investment
strategy, and is solely as a result of--
(i) a foreclosure;
(ii) a deed-in-lieu of foreclosure;
(iii) enforcement of a mortgage, deed of trust, or other
security interest; or
(iv) operation of law following borrower default;
(H) purchased from another large institutional investor
that either owned the single-family home on the date of
enactment of this Act or purchased the single-family home in
compliance with this section;
(I) purchased from an investor not covered under this
section, so long as the purchase occurred not more than 2
years after the effective date under subsection (f);
(J) newly constructed, renovated, or a rental conversion
that is intended and operated for occupancy as part of a
community for households with 1 or more members aged 55 years
or older, and satisfies visitability standards established by
the Secretary of Housing and Urban Development; or
(K) purchased through a single purchase or combination or
series of purchases described in subparagraphs (A) through
(J).
(3) Large institutional investor.--
(A) In general.--The term ``large institutional
investor''--
(i) means an investment fund, corporation, general or
limited partnership, limited liability company, joint
venture, association, or other for-profit entity that is a
legal entity structured in a manner that is not
aforementioned that--
(I) is engaged, in whole or in part, in the business of
investing in, owning, renting, managing, or holding single-
family homes; and
(II) alone or in concert with 1 or more other entities,
beginning after the date of enactment of this Act, directly
or indirectly has investment control of not less than 350
single-family homes in the aggregate, not including any
single-family home purchased in an excepted purchase made
after the date of enactment of this Act; and
(ii) does not include any local, State, Tribal, or Federal
government entity or instrumentality thereof.
(B) Rule of construction.--For purposes of this paragraph,
an entity has direct or indirect investment control over a
single-family home if the entity--
(i) owns, or has primary authority or fiduciary
responsibility to make material investment or management
decisions relating to, the single-family home;
(ii) is, or directly or indirectly controls, the general
partner or managing member of the entity that owns the
single-family home;
(iii) is or controls the investment manager, management
company, or investment advisor of the entity that owns the
single-family home;
(iv) owns or controls more than 25 percent of any class of
equity interests of the entity that owns the single-family
home, unless such entity is a passive investor; or
(v) otherwise controls the entity that owns the single-
family home.
(4) Purchase.--The term ``purchase'' includes any purchase,
transfer, or other acquisition of a single family home,
including through mergers, acquisitions, construction,
foreclosures, or bulk purchases, whether or not for cash
consideration.
(5) Single-family home.--The term ``single-family home''--
(A) means a structure that contains 2 or fewer dwelling
units that are each intended for residential occupancy by a
single household; and
(B) does not include a manufactured home, as defined in
section 603 of the National Manufactured Housing Construction
and Safety Standards Act of 1974 (42 U.S.C. 5402).
(b) Prohibition on Purchases by Large Institutional
Investors.--
(1) In general.--No large institutional investor may
purchase, or enter into a contract to directly or indirectly
purchase, any single-family home.
(2) Exceptions.--The prohibition under paragraph (1) shall
not apply to--
(A) any excepted purchase; or
(B) any purchase of a single-family home in connection with
a restructuring or other reorganization of ownership of
single-family homes that were owned or purchased on or before
the date of enactment of this Act.
(3) Rule of construction.--Nothing in this section may be
construed to--
(A) require any large institutional investor to divest or
otherwise sell any single-family home purchased before the
date of enactment of this Act; or
(B) prevent the filing of a petition, or otherwise affect
any bankruptcy proceeding, under title 11, United States
Code.
(4) Implementation.--
(A) In general.--In consultation with the Secretary of
Housing and Urban Development, the Director of Federal
Housing Finance Agency, and the Chair of the Securities and
Exchange Commission, the Secretary of the Treasury may issue
regulations in accordance with the notice and comment
rulemaking procedures under section 553 of title 5, United
States Code, to carry out the purposes of this section,
including regulations to--
(i) minimize market disruptions upon identifying a risk of
material negative impact on the housing market, including an
impact on the ability of market participants to dispose of
single-family homes in an orderly fashion; and
(ii) mitigate, to the extent possible, negative impacts on
consumers and communities.
(B) Rule of construction.--For the avoidance of doubt, no
regulation issued under subparagraph (A) may amend the
definitions of the terms defined under subsection (a),
including to--
(i) alter the scope of excepted purchases in a manner that
would undermine the goal of expanding the number of single-
family homes available to individual households for purchase;
(ii) alter any type of excepted purchase in a manner that
would undermine the goal of expanding the number of single-
family homes available to individual households for purchase;
[[Page H4186]]
(iii) add any category of large institutional investor as
an eligible class if not determined by this section; or
(iv) alter the quantitative threshold in the definition of
``large institutional investor''.
(c) Renter Outreach Resource Established.--
(1) In general.--The Secretary of Housing and Urban
Development (in this subsection referred to as the
``Secretary'') shall, not later than 180 days after the date
of enactment of this Act, establish a renter outreach
resource that consists of a toll-free telephone number and a
public website designed to assist renters of residential
properties owned by a large institutional investor in--
(A) notifying Federal agencies about disputes relating to
the rental of such properties, including disputes about
potential violations of Federal law;
(B) sharing information about such disputes with other
Federal agencies, including other Federal agencies that
manage similar disputes;
(C) monitoring such disputes; and
(D) resolving such disputes, to the extent practicable.
(2) Response to outreach.--
(A) In general.--The Secretary shall establish reasonable
procedures to--
(i) promptly respond, in writing where appropriate, to a
renter who provides information to the Secretary about a
dispute using the renter outreach resource established under
paragraph (1); and
(ii) document such responses.
(B) Contents.--Responses provided under subparagraph (A)
shall include, where appropriate, information about--
(i) steps that have been taken by the Secretary or another
Federal agency in response to the information about the
dispute provided by the renter, including determining the
appropriate large institutional investor involved as
described in paragraph (3);
(ii) any responses received by the Secretary or another
Federal agency from the large institutional investor related
to such dispute; and
(iii) any outcome of the dispute, to the extent
practicable.
(3) Investigation of potential violations of federal law.--
(A) In general.--The Secretary shall promptly process and
investigate any information relating to a dispute received
through the renter outreach resource established under
paragraph (1) about a potential violation of Federal law that
is received from a renter of a residential property owned by
a large institutional investor through the renter outreach
resource established under paragraph (1), including--
(i) requesting information from a large institutional
investor;
(ii) determining the appropriate large institutional
investor involved in the dispute; and
(iii) sharing information about such potential violation of
Federal law with any relevant Federal agencies, as the
Secretary may determine appropriate.
(B) Responses to requests for information.--Upon request
for information made pursuant to subparagraph (A), the
Secretary shall provide a large institutional investor the
opportunity to respond, including regarding whether such
large institutional investor currently owns the property
described in such request for information.
(4) Information for appropriate state authority.--When the
Secretary receives information about a potential violation of
State law or about a dispute received through the renter
outreach resource, from a renter of a residential property
owned by a large institutional investor through the renter
outreach resource established under paragraph (1), the
Secretary shall, at a minimum, provide the renter with
contact information for the appropriate, State-specific,
State authority authorized to process and investigate such
information.
(5) Notice about renter outreach resource.--Each large
institutional investor shall--
(A) provide to each renter of a residential property owned
by such investor at the time such renter first occupies such
home and annually thereafter--
(i) written notice about the renter outreach resource
established under paragraph (1); and
(ii) the name, phone number, and email address of the
person or entity responsible for receiving and addressing
renter disputes for the large institutional investor, and
update the name, phone number, and email address within 30
days if such information changes prior to the subsequent time
at which such notice is required to be provided; and
(B) prominently feature information about the renter
outreach resource established under paragraph (1) on a public
website of such investor that is accessible by such renter.
(6) Annual report to the congress.--
(A) In general.--The Secretary shall, not later than March
31 of each year, submit to the Congress a public report which
analyzes and aggregates the information received or obtained
pursuant to this subsection during the prior year that
includes--
(i) information about the types and the number of disputes
received about potential violations of Federal law;
(ii) information about the types and the number of disputes
received about potential violations of State law;
(iii) where practicable, information about the resolution
of such disputes; and
(iv) information provided to the Secretary of Housing and
Urban Development under paragraph (8).
(B) Anonymization of data.--Any data included in a report
that is submitted under this paragraph shall be aggregated or
anonymized so as to protect any individual dispute or
personally identifiable information received through the
renter outreach resource.
(7) Protection of personal information.--In complying with
the requirements of this subsection, the Secretary shall take
such measures as the Secretary determines are necessary to
provide for the protection of personally identifiable
information received through the renter outreach resource in
a manner that conforms with existing standards for protection
of the confidentiality of personally identifiable
information.
(8) Annual notification.--Not later than 180 days after the
date of the enactment of this Act, and not later than
December 31st of each year thereafter, each person or entity
that satisfies the definition of a large institutional
investor, as such term is defined in subsection (a), shall--
(A) notify the Secretary each year whether such owner is a
large institutional investor as defined in subsection (a);
and
(B) in such notification, identify how many single-family
homes such large institutional investor has direct or
indirect investment control of as of the date of the
submission of such notice, and the city and State where each
such single-family home is located, unless such large
institutional investor owns 10 or fewer single-family homes
in such city.
(d) Enforcement.--
(1) Civil penalties.--The Secretary of the Treasury, or the
Attorney General at the request of the Secretary of the
Treasury, may bring an action against a large institutional
investor that violates subsection (b) for a civil penalty in
an amount that is not more than $1,000,000 per violation, or
3 times the purchase price of the property involved,
whichever is greater.
(2) Transfer to hud for homeownership expansion
activities.--For fiscal year 2027 and each fiscal year
thereafter, to the extent and in the amounts provided in
advance in appropriations Acts, civil penalties assessed
under this section shall be transferred to and available to
the Secretary of Housing and Urban Development to provide
additional funding for the HOME Investment Partnerships
program under subtitle A of title II of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 12741 et seq.), to
be allocated in accordance with the formula under that
program, for new construction, acquisition, and
rehabilitation of single-family homes and to provide
assistance grants to first-time homebuyers, which may be for
downpayments, closing costs, and interest rate buydowns.
(e) Studies on Large Institutional Investors.--
(1) Gao report.--Not later than 2 years after the date on
which the prohibition under subsection (b)(1) takes effect,
and again not later than 10 years after that date, the
Comptroller General of the United States shall submit to the
Committee on Banking, Housing and Urban Affairs of the Senate
and the Committee on Financial Services of the House of
Representatives a report on--
(A) the impact of the ownership by large institutional
investors of single-family homes on housing availability and
affordability for renters and homebuyers; and
(B) the effectiveness of this section in reducing demand by
large institutional investors for single-family homes and
expanding homeownership for renters and homebuyers.
(2) Hud report.--Not later than 2 years after the date on
which the prohibition under subsection (b)(1) takes effect,
and again not later than 10 years after that date, the
Secretary of the Housing and Urban Development, in
consultation with the Secretary of the Treasury, the
Administrator of the Rural Housing Service, the Executive
Director of the Loan Guaranty Service of the Department of
Veterans Affairs, the Chair of Securities and Exchange
Commission, and the Director of the Federal Housing Finance
Agency, shall submit to the Committee on Banking, Housing and
Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives a report on--
(A) whether there should be adjustments to the definition
of the term ``large institutional investor'';
(B) the financial impact of this section on large
institutional investors, renters, and homebuyers; and
(C) any legislative recommendations regarding ways to
improve the authorities provided under this section to
increase the supply and affordability of single-family homes
for purchase by individual homebuyers.
(3) Sense of congress.--It is the sense of Congress that--
(A) this section is intended to expand the number of
single-family homes available to individuals for purchase and
is aimed at preserving and expanding the supply of single-
family homes available to individuals; and
(B) any further study on the effectiveness of this section
and any legislative recommendations therefrom should consider
this sense of Congress.
(f) Effective Date.--The requirements and prohibitions
under subsections (b) and (d) of this section--
(1) shall take effect on the date that is 180 days after
the date of enactment of this Act; and
(2) are repealed on the date that is 15 years after the
effective date under paragraph (1).
TITLE XI--CENTRAL BANK DIGITAL CURRENCY
SEC. 1101. CENTRAL BANK DIGITAL CURRENCY.
The Federal Reserve Act (12 U.S.C. 221 et seq.) is amended
by inserting after section 16 (12 U.S.C. 411 et seq.) the
following:
``SEC. 16A. CENTRAL BANK DIGITAL CURRENCY.
``(a) Definitions.--In this section:
``(1) Central bank digital currency.--The term `central
bank digital currency' means a digital asset that--
``(A) is denominated in United States dollars;
[[Page H4187]]
``(B) is a United States currency;
``(C) is a direct liability of the Federal Reserve System;
and
``(D) is widely available to the general public.
``(2) Digital asset.--The term `digital asset' has the
meaning given the term in section 2 of the GENIUS Act (12
U.S.C. 5901).
``(b) Prohibition.--Except as provided in subsection (c),
the Board of Governors of the Federal Reserve System or a
Federal reserve bank may not issue or create a central bank
digital currency or any digital asset that is substantially
similar to a central bank digital currency directly or
indirectly through a financial institution or other
intermediary.
``(c) Exception.--Subsection (b) shall not prohibit any
dollar-denominated currency that is open, permissionless, and
private, and fully preserves the privacy protections of
United States coins and physical currency.
``(d) Sunset.--This provisions of this section shall cease
to be effective on December 31, 2030.
``(e) Rule of Construction.--Nothing in this section shall
be construed to allow the Board of Governors of the Federal
Reserve System to issue a central bank digital currency or
any digital asset that is substantially similar to a central
bank digital currency directly or indirectly absent
authorization by an Act of Congress.''.
TITLE XII--MISCELLANEOUS
SEC. 1201. SEVERABILITY.
If any provision of this Act, or the application thereof
to any person or circumstance, is held invalid, the remainder
of the Act, and the application of such provisions to other
persons or circumstances, shall not be affected thereby.
SEC. 1202. NO ADDITIONAL FUNDS AUTHORIZED.
No additional funds are authorized to be appropriated to
carry out the requirements of this Act or any amendment made
by this Act.
The SPEAKER pro tempore. Pursuant to the rule, the gentleman from
Arkansas (Mr. Hill) and the gentlewoman from California (Ms. Waters)
each will control 20 minutes.
The Chair recognizes the gentleman from Arkansas.
general leave
Mr. HILL of Arkansas. Mr. Speaker, I ask unanimous consent that all
Members may have 5 legislative days to revise and extend their remarks
and include extraneous material on this bill.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Arkansas?
There was no objection.
Mr. HILL of Arkansas. Mr. Speaker, I yield myself such time as I may
consume.
Mr. Speaker, I rise today in strong support of the 21st Century ROAD
to Housing Act.
America is facing a housing supply shortage that has been years in
the making. For too many of our families, the consequences are felt
every day through higher home prices, rising rents, and fewer
opportunities to achieve homeownership.
{time} 1720
Over the last several months, I have worked with our colleagues in
both the House and Senate and on both sides of the political aisle to
advance practical legislation that addresses this pressing challenge
for our American families.
The 21st Century ROAD to Housing Act represents one of the most
significant bipartisan housing reforms in recent memory, bringing
together commonsense policies to expand housing opportunities and
improve affordability for our families.
Mr. Speaker, it cuts unnecessary barriers to new home construction.
It modernizes Federal housing programs. It streamlines development
processes. It helps create the conditions necessary to build more homes
and increase housing supply.
The bill also strengthens the roles of our Main Street community
lenders by modernizing outdated banking regulations and allowing banks
to more effectively deploy capital in the communities that they serve.
These reforms will help community banks focus on what they do best:
providing loans to families seeking to purchase a home and financing
the construction of new housing.
Importantly, the Senate adopted several key House priorities,
including House language that limits institutional investors from
outcompeting with American families looking to buy a home. At a time
when too many of our families are struggling to purchase a home, this
provision helps to ensure that American families have a fair
opportunity to achieve that American Dream of homeownership.
Importantly, the House worked with the Senate to ensure that feedback
was incorporated to other provisions added in the Senate amendment.
These provisions were the VALID Act, introduced by my great friend in
the Senate across the Capitol, Arkansas Senior Senator John Boozman;
edits from Ranking Member Waters on the Rental Assistance Demonstration
Program; Senator Kennedy's groundbreaking initiative on the Build Now
Act; and, importantly, sunsets to the programs offered by the Senate:
CDBG-DR, Community Development Block Grant Program for Disaster
Recovery, and the PRICE Act.
We focused on improving HUD accountability to benefit both our
residents in our districts and taxpayers. This final product advances
practical bipartisan and bicameral solutions to modernize Federal
housing programs, reduce regulatory burdens, streamline the development
process, and help build more homes to meet that growing demand and keep
the American Dream within reach.
This bicameral, bipartisan bill before us today reflects ideas from
both Chambers and demonstrates what can be accomplished when Congress
focuses on solving problems for the American people.
Mr. Speaker, this is Congress working at its best, tackling the
challenges of the American people, offering solutions, and having those
enacted into law. I am proud to support this legislation, and I urge my
colleagues to do the same.
Mr. Speaker, I reserve the balance of my time.
Ms. WATERS. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise in support of H.R. 6644, the 21st Century ROAD to
Housing Act, sponsored by Chairman Hill and myself.
This bill represents the most significant housing reform package in
decades and will finally get America back on track to building
affordable housing.
Our bill includes dozens of bipartisan provisions to build new
housing, lower mortgage and rental costs, expand homeownership,
modernize Federal housing programs, prioritize home buyers and renters
over corporate landlords, and support community bankers that finance
affordable housing development and mortgages each day.
This final bill marks the culmination of numerous hearings, markups,
votes, creative input from committee Democrats, and tough negotiations
across both sides the aisle and the Capitol.
This bill speaks to the real change that our constituents have been
demanding, where everyone can afford a dignified place to call home,
where tenants are protected, and where working Americans can finally
get ahead.
As a reminder of who we are trying to help and what is at stake,
let's review the facts. The average cost of a single-family home has
skyrocketed, and wages have not kept pace. The median age of a first-
time home buyer is 40 years old. Rents have soared by nearly 47 percent
since before the pandemic. Not surprisingly, 42 million American
households are cost-burdened, and most shamefully, 800,000 people
experience homelessness on any given night. Our country must do better,
and today we will do better by passing H.R. 6644.
I have said since day one that housing must be a national priority.
That is why I thank Chairman Hill for his partnership. This will be the
third time this Congress has passed housing reform legislation, and
each time, the bill has gotten better and better.
I also commend Housing and Insurance Subcommittee Ranking Member
Emanuel Cleaver, Chairman Flood, along with our committee Democrats and
Senators Warren and Scott for coming together on this historic
bipartisan and bicameral bill.
By working together, we will deliver a stronger, more impactful
legislative package to be signed into law, one with more practical
solutions and affordable housing opportunities for American families
than before.
This comprehensive package incorporates over 50 housing and banking
provisions championed by House Democrats. It will lay the groundwork
for the development of new, affordable homes all across America and
create new pathways to homeownership. The bill will reduce unnecessary
barriers to housing development, expand financing for housing and
community investment, and support the development of innovative housing
like modular homes and accessory dwelling units. It creates databases
for available publicly owned
[[Page H4188]]
lands so communities know where they can build.
The bill provides a range of new protections for renters, including a
hotline to file complaints with HUD and corporate landlords. The bill
increases access to smaller-dollar mortgages under $100,000, and the
bill, finally, codifies the Community Development Block Grant-Disaster
Recovery Program, which will help expedite flexible funding to
communities seeking to rebuild homes after major disasters like
hurricanes and wildfires.
H.R. 6644 also supports thousands of community lenders, including
community development financial institutions and minority depository
institutions, so they can more affordably finance home buyers and
housing developers.
Importantly, this bill includes the House language to responsibly
rein in corporate landlords by banning large institutional investors
from purchasing single-family homes but without halting construction of
new rental housing or evicting families in the middle of a housing
crisis. Tenants will have a national resource center to file grievances
about corporate landlords, to which HUD will respond, and large
institutional investors will be publicly named in an annual report
along with the number and location of their properties.
I am very proud of this legislation, and I urge my colleagues to join
me in this first step to finally addressing our Nation's affordable
housing crisis.
Mr. Speaker, I reserve the balance of my time.
Mr. HILL of Arkansas. Mr. Speaker, I yield 4 minutes to the gentleman
from Nebraska (Mr. Flood), who is the chair of the Housing and
Insurance Subcommittee and has been the leader on building consensus on
this bill.
Mr. FLOOD. Mr. Speaker, I start by thanking our chairman, French
Hill, who has shouldered the burden of helping us get this through
Congress, together with our Ranking Member Waters, my colleague Emanuel
Cleaver from Kansas City, myself, and all the staff that have made this
happen.
At this hour, across our land, the mayor of San Diego is celebrating
as is the executive director of the Huntsville, Alabama, Habitat for
Humanity; the mayor of Columbus, Ohio; and plenty of folks in Nebraska
and everywhere in between, because what we have here is a
comprehensive, bicameral, bipartisan solution.
When I started in this role in the Housing and Insurance
Subcommittee, I knew this was the number one issue in my district.
Housing supply is not keeping up with demand. Tara Vasicek, the city
administrator from Columbus, a city of approximately 25,000 people in
Platte County, Nebraska, testified in our first Housing and Insurance
Subcommittee hearing that the lack of affordable housing directly
impacts economic growth, workforce attraction, and retention.
{time} 1730
The mayor of the largest city in my district, Mayor Leirion Gaylor
Baird, 300,000 people strong, believes so strongly in the need for
affordable housing and supply that she set an ambitious goal of 5,000
units by the end of this decade.
As we wrote this bill, we thought about them and everybody else; and
Mr. Cleaver and I welcomed literally hundreds of suggestions from
across the country. They weren't blue ideas or red ideas. We have a lot
more in common than we have opposite.
I want to read you something from the Federalist Papers written by
Alexander Hamilton. This is from No. 70. This really talks about the
process. Now mind you, we had Republicans and Democrats united in the
House working with Republicans and Democrats, a different version, in
the Senate. Alexander Hamilton wrote: ``In the legislature, promptitude
of decision is oftener an evil than a benefit. The differences of
opinion, and the jarrings of parties in that department of the
government, though they may sometimes obstruct salutary plans, yet
often promote deliberation and circumspection, and serve to check
excesses in the majority.''
This bill was a product of the process that Hamilton described. There
were differences of opinions and jarrings of parties, I would say
jarrings of Chambers, but the final bill is stronger as a result of
this long and deliberative process.
It is my honor to have been a part of it. I thank again our chairman,
our ranking member, and my counterpart, Emanuel Cleaver, for their work
on this bill. I thank President Trump for identifying this as a major
issue in September of 2025. I also want to send a special thank you to
the leadership of this Chamber: our Speaker, our majority leader, and
our whip. Without them, this would not be a bicameral, bipartisan bill.
Ms. WATERS. Mr. Speaker, I yield 3 minutes to the gentleman from
Missouri (Mr. Cleaver), who authored several bills in this legislation,
including H.R. 1981, the Choice in Affordable Housing Act; H.R. 5878,
the HOME Reform Act; and H.R. 5938, the Innovation Fund Act.
Mr. CLEAVER. Mr. Speaker, as Chairman Flood has previously stated,
bipartisanship is more than just a policy. A genuinely bipartisan
effort is defined not only by the substance of the policy but also by
the process that meaningfully incorporates input from both parties.
Mr. Speaker, I have been here quite a while, and believe me, there
are always reasons not to work with the other side: the President,
elections, political strategy, or policy disagreements. Americans,
though, at this particular time are looking for those who can deliver
results, despite these changing but ever-present realities.
I commend the leadership of Chairman Hill; Ranking Member Waters; my
counterpart, Chairman Flood; and our colleagues in the Senate on this
bipartisan legislation.
Since our Nation's founding, the ability to own land and a home has
been closely tied to the promise of freedom, responsibility, and
opportunity.
As this Nation turns 250, it is our responsibility to preserve that
promise for the next generations. The 21st Century ROAD to Housing Act
is an important step in that direction.
This legislation strengthens existing programs, improves coordination
among regulators, encourages governments to address local barriers to
housing supply, and includes key banking reforms, including raising the
public welfare investment cap to unlock billions in private capital.
I thank the hundreds of national organizations and everyone who was
involved in this effort, especially Chairman Flood, Ranking Member
Waters, Chairman Hill, and Senators Scott and Warren on their very,
very difficult work in the Senate.
Chairman Flood has talked about housing is personal, and he is
absolutely right. We all have our American stories. Mine began in a
little shack in Texas without running water and electricity.
I have to say this, and I wish my dad were here to hear me say it:
Our family was poor, but we always had a home. We just didn't have a
house to put it in.
My main goal in coming to Congress was to ensure that a family in
America can work hard and afford a safe, decent house in which to
deposit their home. I am proud to stand with my colleagues in this
effort.
Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentleman
from Michigan (Mr. Huizenga), the vice chairman of the Financial
Services Committee.
Mr. HUIZENGA. Mr. Speaker, I rise today in support of the long-
awaited 21st Century ROAD to Housing Act, and I congratulate Chairman
Hill, the ranking member, Chair Flood, and Ranking Member Cleaver for
their hard work.
Throughout southwest Michigan, I hear about housing challenges--from
a young family's inability to buy their first home to lack of available
workforce housing.
Sadly, more than 70 percent of Michigan households do not earn enough
to afford a median-priced new home, which costs over $398,000.
The 21st Century ROAD to Housing Act is a bipartisan solution to
address this problem by lowering prices and improving affordability.
Additionally, this legislation will increase the supply of housing by
removing barriers to development and expanding local financing options
to help bring more housing to market, which is key to addressing this
issue.
I have fought passionately and, frankly, sometimes stubbornly, as
this chairman will tell you, for this bipartisan legislation because it
helps restore the American Dream by making housing more affordable and
available.
[[Page H4189]]
Let's send this cost-saving legislation to the President's desk and
deliver for the American people.
Ms. WATERS. Mr. Speaker, I yield 2 minutes to the gentleman from
Massachusetts (Mr. Lynch), who is a strong advocate for affordable and
public housing.
Mr. LYNCH. Mr. Speaker, as someone who grew up in the Old Colony
Housing Projects in South Boston, Massachusetts, and as a cofounder of
the Affordable Housing Caucus along with Reverend Emanuel Cleaver,
Greg Meeks, and Ritchie Torres, I am proud to join my colleagues,
French Hill from Arkansas; the gentlewoman from California, Maxine
Waters; Chairman Flood; and Reverend Emanuel Cleaver from Kansas City
in rising in support of this bill, which while it does not solve every
issue we have today with housing in this country, it does a lot.
It stops the commoditization of housing by real estate companies and
private equity firms that would compete with families in acquiring
their first home.
I realize it took a lot of work across the aisle. I congratulate our
colleagues in the Senate, as well, for the work that they have done. We
have got to do a lot more. We have got to bring the cost of housing
down, and we have got to increase the supply of housing. We are about 7
million units short here--7 million homes short in the United States.
This is a good start. It is a good start, and it is a collaboration
between Republicans and Democrats on one of those elements of the
American Dream that is undeniable and that is shared in red States as
well as blue States.
Again, I congratulate all of my colleagues on working together on
this. It shows you what we can do in this country when we work
together. I look forward to the next iteration of this bill, as well.
{time} 1740
Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentleman
from Kentucky (Mr. Barr).
Mr. BARR. Mr. Speaker, let me first start by applauding Chairman Hill
for his leadership in advancing this landmark legislation. The 21st
Century ROAD to Housing Act is exactly the kind of commonsense housing
reform needed to increase housing supply and help lower costs for
American families.
As the chairman of the Financial Institution Subcommittee, I want to
address Title IX of this bill. It deals with regulatory relief for
community banks. Community banks represent the backbone of the housing
industry, providing home loans for many first-time home buyers and
serving as critical lenders to homebuilders.
For years, Federal regulators have written rules as if every bank in
America is a trillion-dollar global institution and then act surprised
when community banks disappear and housing costs skyrocket.
For Kentucky, this is personal. Community banks are the financial
infrastructure of housing in rural America. When they thrive, small
towns thrive. When they are regulated out of existence, capital dries
up and the opportunity for homeownership disappears.
This legislation changes that. By streamlining de novo formation,
increasing supervisory transparency, and strengthening access to
deposits, community banks can better serve their communities and remain
a key contributor to the home loan market, expanding opportunities not
just for Kentuckians but for Americans to become homeowners.
Ms. WATERS. Mr. Speaker, I yield 1 minute to the gentleman from
California (Mr. Sherman).
Mr. SHERMAN. Mr. Speaker, this is a good day. The American people
think we are hopelessly divided, and often, we are. Today, dozens of
pieces of legislation folded into the 21st Century ROAD to Housing Act
will become law, with overwhelming bipartisan support and overwhelming
bicameral support, and will address not all the things we should do but
important things we should do to make homeownership available for many
American families.
I thank the chair and the ranking member for proving to us that
Congress can work and, of course, Emanuel Cleaver, the ranking member
of the relevant subcommittee.
There is nothing more shameful for our country than a homeless
disabled veteran. My bill, included in this package, will make it plain
that those who are receiving disability benefits because they were
injured while fighting our Nation's wars will not have that disability
payment held against them when it comes to qualifying.
Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentleman
from New York (Mr. Lawler).
Mr. LAWLER. Mr. Speaker, I rise in strong support of the 21st Century
ROAD to Housing Act. We are 8 million units underbuilt nationwide.
Under the prior administration, 30-year mortgage rates hit a 30-year
high. The average age of a first-time home buyer is 40 years old.
The bottom line is, we need more housing. This bill, working
together, does just that. It eases regulations. It creates greater
access to capital. It provides more accountability at HUD. Ultimately,
it increases supply, which will have a profound impact on Americans
across this country.
I am proud to have coauthored six pieces of legislation that are in
the final deal. I look forward to its passage today and President Trump
signing it into law tomorrow.
This is a positive step forward for the American people to increase
access to housing, to cut regulatory burdens, and to reduce overall
costs. I urge everyone to vote ``yes.''
Ms. WATERS. Mr. Speaker, I yield 1 minute to the gentleman from Texas
(Mr. Green), who authored several bills in this legislation, including
H.R. 8291, the Reforming Disaster Recovery Act, and H.R. 3716, the
Systemic Risk Authority Transparency Act.
Mr. GREEN of Texas. Mr. Speaker, I thank Ms. Waters and Mr. Hill for
honoring their commitment to make sure that H.R. 8291, the Reforming
Disaster Recovery Act, was a part of this legislation.
I believe that there are many ways that it could have been done, but
I also believe that there are only two people who could have gotten it
done. That would be Mr. Hill and Ms. Waters, of course, working with
our colleagues in the Senate, Mr. Scott and Ms. Warren.
This is a historic piece of legislation. It does what has never been
done before. I am talking about H.R. 8291. It will authorize Community
Development Block Grant disaster recovery for 3 years and reform the
program to help the most marginalized persons. It provides flexible
funding, primarily for low- and moderate-income communities recovering
from major disasters.
Again, I thank the ranking member and the chairman. I am most
appreciative that this bill will contain this legislation.
Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the
gentlewoman from California (Mrs. Kim).
Mrs. KIM. Mr. Speaker, I rise today in strong support of the 21st
Century ROAD to Housing Act.
There is nothing more central to the American Dream than
homeownership. Unfortunately, thanks to Gavin Newsom and leadership in
Sacramento, that American Dream is slipping away, and hardworking
families are being left in the dust.
After years of inaction, my home State of California has earned an F
in housing affordability. That is why I am taking action, working
closely with my colleagues on both sides of the aisle, to help address
that crisis for my constituents in Orange, Riverside, and San
Bernardino Counties.
We have already worked closely with President Trump to secure
historic SALT relief for southern Californians. That relief, combined
with the provisions in the 21st Century ROAD to Housing Act, will bring
the dream of homeownership closer to reality for working families in my
district.
For the first time since 2006, we are unlocking new capital that
financial institutions can invest in affordable housing and community
development projects. Additionally, we have fortified programs that
will aid rebuilding efforts and help mitigate potential wildfires.
Under this administration and Republican leadership in Congress, we
are making it easier for builders to build, lenders to lend
responsibly, and families to save. Hopefully, this legislation will
deliver results for American families, as promised.
Ms. WATERS. Mr. Speaker, I yield 1 minute to the gentleman from
Connecticut (Mr. Himes).
[[Page H4190]]
Mr. HIMES. Mr. Speaker, I want to start by thanking Chairman French
Hill and Ranking Member Maxine Waters for doing a remarkable thing. In
this polarized and angry Congress, we are actually getting something
done, and we are getting something done that is really important.
Throughout my district, from Greenwich to Bridgeport, from Ridgefield
to Oxford, I don't spend a day where I don't hear somebody say: I can't
afford the rent. I can't afford to buy.
We have a crisis of housing in this country. While this won't fix
everything, this is a huge step in the right direction.
There is a lot of work that remains to be done. Our colleagues at the
State and municipal levels need to take a hard look at the regulations,
at the land use policies, and at the zoning. It continues to inhibit
the ability to build housing and, therefore, offer affordable rent and
affordable mortgages to America.
What we are doing right here is big. I was delighted to be able to
contribute a couple of things to this bill.
Mr. Speaker, I urge my colleagues at this point in time: Let's listen
to the American people. Let's do something for them. Let's make housing
more affordable.
Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the
gentlewoman from Texas (Ms. De La Cruz).
Ms. De La CRUZ. Mr. Speaker, I rise today in support of H.R. 6644,
the 21st Century ROAD to Housing Act, which will make the American
Dream of homeownership affordable again for countless Texas families.
By expanding housing supply, restoring efficiency to outdated HUD
programs, supporting our veterans seeking homeownership, and protecting
families from corporations unfairly competing with them to purchase
homes, this legislation brings homeownership back within reach for all
Americans.
{time} 1750
Mr. Speaker, I urge my colleagues to join me in support of H.R. 6644.
Ms. WATERS. Mr. Speaker, I yield 1 minute to the gentlewoman from
Ohio (Mrs. Beatty).
Mrs. Beatty authored H.R. 2031, the HOME Investment Partnerships
Reauthorization and Improvement Act, and H.R. 3709, the Advancing the
Mentor-Protege Program for Small Financial Institutions Act.
Mrs. BEATTY. Mr. Speaker, I rise in strong support of the Housing for
the 21st Century Act.
First, let me thank Ranking Member Waters and Chairman Hill for their
leadership.
This landmark, bipartisan package represents a major step forward in
addressing the Nation's challenges in housing, and I am especially
proud that six of my bills are included in this legislation.
My HOME Investment Partnerships Reauthorization and Improvement Act
will make it easier for local organizations to fund affordable housing
projects, while another provision strengthens coordination between the
Departments of Housing, Agriculture, and Veterans Affairs.
The package also includes key banking measures that will help
community banks and minority depository institutions grow and compete.
I started my professional career in public housing and working as a
consultant for HUD, so I know too many families are being priced out of
the housing market. This legislation delivers practical solutions that
expand opportunity and increase homeownership.
Again, let me thank Chairman Hill and Ranking Member Waters for their
support. It is time to make homeownership more than a dream. It must be
a reality.
Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentleman
from Florida (Mr. Haridopolos), who is our vice chairman and whip of
the committee.
Mr. HARIDOPOLOS. Mr. Speaker, there is one way to reduce prices: You
increase supply. That is exactly what this bill will finally do. The
package focuses on the simple idea of building more homes which means
lower costs and more expanded opportunities for all Americans.
I want to say this: I think it is really nice to see in my first term
here people working together. I consider politics the art of the
possible, and our chairman has done a remarkable job of bringing
everyone together, even the Senate, in order to pass this landmark
legislation. I could not be more proud of their effort. I have learned
a ton by working under their leadership.
We are on the right path to finally reduce costs and empower the
public once again and prove that homeownership is, once again,
attainable. Supply and demand laws do work, especially when you
increase supply.
Ms. WATERS. Mr. Speaker, I yield 1 minute to the gentlewoman from
Michigan (Ms. Tlaib), who authored H.R. 6768, the Housing Our
Communities Act, which is included in this bill.
Ms. TLAIB. Mr. Speaker, from Detroit, Michigan, to Little Rock,
Arkansas, every single one of our families deserves to be able to
afford a home. We know we talk about how gas prices, groceries, and
insurance are constant sources of stress for our families, but we know
that housing costs can be the worst of them all.
The housing crisis has been many years in the making and it will take
years to overcome, but this package is an important step toward
addressing the affordability crisis. I am thrilled that our package
includes the Housing Our Communities Act which is creating a
competitive grant program to support a wide range of affordable housing
planning and implementation activities for our local communities.
These grants will help increase affordable housing by supporting them
in crafting housing plans, updating zoning codes, or speeding up
housing inspections.
Cities like Detroit need zoning reform to create affordable housing
and protect our neighborhoods from polluters, but that often doesn't
happen without Federal financial support. The Housing Our Communities
Act moves us closer to that.
Mr. Speaker, I urge our colleagues to support this and make
affordable housing a reality for all of our communities.
Mr. HILL of Arkansas. Mr. Speaker, I yield 1 minute to the gentleman
from North Carolina (Mr. Moore), who is a distinguished member of our
committee.
Mr. MOORE of North Carolina. Mr. Speaker, many parts of this country
are facing a major housing affordability issue. In my home State of
North Carolina, there is an estimated housing shortage of 750,000
units. With over 100,000 more people moving into North Carolina every
year, that gap is only going to grow.
One way--in fact, the way to solve the housing affordability issue is
to build more houses. It is really that simple, and the 21st Century
ROAD to Housing Act does exactly that. Instead of piling on new
mandates or subsidies, it removes the burdens that are standing between
American families and an affordable home.
Building more homes is only half of the equation, though. That is why
the banking reforms in this bill are so critical.
The 21st Century ROAD to Housing Act expands mortgage access for
working families and includes my bill, the TRUST Act, which also lifts
unnecessary regulatory burdens off of well-managed community banks.
These reforms will help banks provide more construction loans that get
shovels in the ground and opportunities for first-time buyers as well
as those buying a second home.
Mr. Speaker, I urge my colleagues to join me in supporting this
legislation, and I, too, thank the chairman for his excellent
leadership on this.
Ms. WATERS. Mr. Speaker, I yield 1 minute to the gentleman from
Nevada (Mr. Horsford), who is a strong advocate for affordable housing
and a former member of our committee.
Mr. HORSFORD. Mr. Speaker, I rise today in strong support of the 21st
Century ROAD to Housing Act, and I am casting my vote for people, not
for corporations.
Across the United States and in my home State of Nevada, the dream of
homeownership has been slipping further out of reach for working
families. In fact, Las Vegas is ranked second in the Nation for
corporate homeownership. Thirty percent of the residents in Nevada have
been impacted by institutional investors.
Last year, I listened when my constituents throughout southern Nevada
told me that the issue of housing was
[[Page H4191]]
their greatest concern. That is why, working with the ranking member,
we were able to build a housing platform that could really address the
problems that people are facing.
Today, the 21st Century ROAD to Housing Act will finally address
these problems and make the dream of homeownership attainable.
This bill creates greater accountability in the housing market,
increases housing supply, and places new restrictions on large,
institutional investors from buying up single-family homes.
It ensures veterans are not penalized for receiving disability
benefits when qualifying for housing vouchers, a commonsense change
that I am sure that we can all support.
I am proud that we are putting homeowners over hedge funds, Mr.
Speaker, and I urge my colleagues to vote ``yes'' on this bill.
Mr. HILL of Arkansas. Mr. Speaker, I yield myself such time as I may
consume.
Mr. Speaker, I want to say that the work has been extraordinary
between the majority and the minority in this House in answering the
call for solutions from the American people. I think Mr. Cleaver said
it best talking about his own experience within his own family in east
Texas: We always had a home, but we just didn't always have a house to
put it in.
Let that hang in this room, Mr. Speaker, because that is the spirit
in which both sides of the aisle have worked to find solutions today.
We couldn't do it without our staff. I thank the majority and the
minority staff from both sides of the aisle who helped us get to where
we are today.
Mr. Speaker, as referenced in the previous colloquy that I had with
the ranking member when we were on the floor a few weeks ago, we
believe there are several points the Treasury should consider as it
evaluates the congressional intent in implementing section 1001 of this
bill, the 21st Century ROAD to Housing Act.
Entities organized as nonprofits under section 501(c)(3) of the
Internal Revenue Code that are exempt from taxation under section
501(a), as well as community land trusts, as defined in the Cranston-
Gonzalez National Affordable Housing Act and amended by our bill today,
should not be included in the definition of a large institutional
investor.
{time} 1800
It is also Congress' intent that nothing in the act should be
construed to require a large institutional investor to divest or sell
any home purchased before or after enactment.
The term, Madam Speaker, ``single-family home'' was also not intended
to include property that when occupied is rented to a member of the
Armed Forces or a member of the National Guard as defined in section
101 of title 10 of the U.S. Code.
Similarly, section 1001 should not reduce the supply of essential
rental housing in our communities and should exclude student housing
leased by bedroom to unrelated individuals under separate agreements.
Similarly, homes purchased by mortgage servicers for loss mitigation
reasons following a foreclosure, not as long-term investments, should
remain permissible when the mortgage is federally backed, as defined in
section 4022(a) of the CARES Act, and the servicer first offers a
first-look period to the owner-occupant or a nonprofit approved by the
relevant Federal agency.
However, the bill prohibits large institutional investors from
purchasing single-family homes by participating in homeownership
programs that do not meet the criteria under the act.
For build-to-rent programs, this exemption should apply when an
investor purchases, constructs, or constructs and retains a single-
family home for rental use, whether in a community comprised entirely
of renter-occupied single-family homes or in a mixed community of
owner- and renter-occupied homes. Clarifying this distinction is
essential to carrying out the intent of the House and Senate in this
bill.
Additionally, purchases of homes used to provide residential care for
individuals with disabilities or developmental disabilities or in
senior living communities should be exempt as these are unrelated to
the problem being addressed by the act.
The same is true for the exemption of homes purchased with support
from programs described in section 42 of the IRS code or participating
in Federal or other affordable housing programs where rents are
restricted.
Congress also intended exemptions for homes acquired as a part of a
community of five or more contiguous rental units, and homes planned,
permitted, financed, and constructed as a part of a unified rental
community on a single platted parcel that are not intended for
individual sale, as well as properties that are made up of multiple
rental homes or units constructed on a single parcel of property that
cannot be legally sold as individual homes or the units without further
subdividing the property.
The ranking member and I recognize that these regulations issued by
the Treasury will be necessary to implement various aspects of the act
that we debate today.
The overall reaching goal of section 1001 is to expand the number of
single-family homes available for purchase by individual households.
Regulations that do not meet that objective will fall short of
congressional intent and risk reducing, not increasing, the
availability and affordability of housing across our great country.
Madam Speaker, I reserve the balance of my time.
Ms. WATERS. Madam Speaker, I yield myself the balance of my time.
Madam Speaker, I thank Mr. Hill for working with me to clarify the
intent behind this section. I agree with what Mr. Hill has described on
the congressional intent for section 1001.
Madam Speaker, for years I have fought hard to make housing
affordable, but for many years, it was hard to prioritize housing in
both Democratic and Republican-led Houses.
It is for that reason, I am deeply grateful for Chairman Hill who
worked so closely with me to write H.R. 6644 and prioritize it in our
committee and in this House. Together, we found compromise that had
previously proven so difficult. I hope that this partnership can
continue to deliver for America because we still have a lot of work to
do.
Madam Speaker, I also thank both of our staffs on the committee
because without their hard work, this bill would not likely be here
before us today.
This legislation must serve as a foundation for continued action, not
the final step in addressing our Nation's housing crisis. We must build
on this progress and continue to advocate and secure the resources our
communities critically need.
Madam Speaker, I dedicate our work to some of the people in public
housing who will have an opportunity now to help understand how their
communities can be improved. In my district, Nickerson Gardens, Jordan
Downs, Gonzack Village, Imperial Courts, and Avalon Gardens, I thank
them for what I have learned. To my home in St. Louis, Missouri, where
I was born, I thank those who lived and died in bond projects in
Pruitt-Igoe and those projects where they had a difficult time many
years ago. We are now leading to a point where we will be able to make
all of those projects more livable. We will be able to have the
constituents in those projects understand how their lives can be
bettered.
Madam Speaker, I yield back the balance of my time.
Mr. HILL of Arkansas. Madam Speaker, I yield myself the balance of my
time.
Madam Speaker, I thank the ranking member for her partnership on this
housing bill that is groundbreaking, historic, and that is the first
time in decades that the two Chambers have come together to make
measurable, accountable changes that will benefit the American people
in both accessibility, the construction of more units, and the
affordability that our families so richly need and deserve over these
past years of recently high inflation, particularly. I thank her for
her partnership.
Madam Speaker, I will also say that I have talked to community
development and housing refinancing people in Little Rock, and they all
tell me that this is so overdue. I thank the gentlewoman for her
passion in getting this done. Whether it is in Cotton Plant, Arkansas,
or Helena, Arkansas, or St.
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Louis, Missouri, or Los Angeles, California, or Little Rock, Arkansas,
we are also, in this bill, holding HUD accountable.
HUD has a responsibility for safe, clean, and effective housing for
the tenants dependent on their programs. Not only are we building
supply and improving affordability, we are also in a bipartisan,
bicameral basis holding the Department of Housing and Urban Development
accountable.
Madam Speaker, I urge a ``yes'' vote, and I yield back the balance of
my time.
The SPEAKER pro tempore (Mrs. Kim). The question is on the motion
offered by the gentleman from Arkansas (Mr. Hill) that the House
suspend the rules and concur in the Senate amendment to the House
amendment to the Senate amendment to H.R. 6644.
The question was taken.
The SPEAKER pro tempore. In the opinion of the Chair, two-thirds
being in the affirmative, the ayes have it.
Mr. HILL of Arkansas. Madam Speaker, on that I demand the yeas and
nays.
The yeas and nays were ordered.
The SPEAKER pro tempore. Pursuant to clause 8 of rule XX, further
proceedings on this motion will be postponed.
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