21st Century ROAD to Housing Act

119 HR 6644 EAH: 21st Century ROAD to Housing Act U.S. House of Representatives 2026-05-20 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. 119th CONGRESS2d Session In the House of Representatives, U. S., May 20, 2026 HOUSE AMENDMENT TO SENATE AMENDMENT: That the House agree to the amendment of the Senate to the bill (H.R. 6644) entitled An Act to increase the supply of housing in America, and for other purposes., with the following In lieu of the matter proposed to be inserted by the amendment of the Senate to the text of the bill, insert the following:

1.Short title; table of contents (a)Short titleThis Act may be cited as the 21st Century ROAD to Housing Act. (b)Table of contentsThe 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. 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. 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. 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. Title VI—Veterans and Housing Sec. 601. Military Service Question. Sec. 602. Housing Unhoused Disabled Veterans 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. Least cost exception. Sec. 907. Failing bank acquisition fairness. Sec. 908. Advancing the mentor-protégé program for small financial institutions. Sec. 909. American access to banking. Sec. 910. Promoting new bank formation. Sec. 911. Rural depositories revitalization study. Sec. 912. Discretionary surplus fund. 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. IOpportunities for Housing

101.Reforms to housing counseling and financial literacy programsSection 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)ReviewsThe 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 definedIn 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)ComparisonFor 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)CertificationIf, 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 generalThe 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)NoticeThe 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 conferenceIf 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 definedIn 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 borrowersA 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)CostIf 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))..

102.Federal guidelines for point access block buildings (a)In generalNot 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)ContentsWhen developing the guidelines under subsection (a), the Secretary 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; (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 councilThe Secretary 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 generalThe Secretary 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)SunsetThe program established under paragraph (1) shall terminate on the date that is 7 years after the date of the enactment of this subsection. (e)Treatment of projectsProjects 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 constructionNothing in this section may be construed to preempt a State or local building code. (g)DefinitionsIn this section: (1)Eligible entityThe 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 buildingThe 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.

103.Exemption on construction or modification of residential housing located on an infill site (a)ExemptionIn 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)ReportNot 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)DefinitionsIn this section: (1)GreenfieldThe term greenfield means a site that has not been developed, including a woodland, farmland, and an open field. (2)Infill siteThe 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.

104.Database of publicly owned land (a)In generalSection 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)Effective dateThe amendment made by this subsection shall take effect on October 1, 2026.

105.FHA Small-Dollar Mortgages (a)In generalNot 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)ReportBeginning 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 the 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 the 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)SunsetThe 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 authorityAfter 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 definedThe 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.

106.Temperature Sensor Pilot Program (a)In generalThe 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 generalThe Secretary shall, not later than 180 days after the date of the 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)CriteriaIn 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)InstallationEach 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 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 generalEach 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 violations. (2)DefinitionsThe Secretary shall, not later than 180 days after the date of the enactment of this Act, define the terms temperature-related complaints and temperature-related violations for the purposes of this section. (e)Data collection (1)In generalData 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 notifies the public housing agency or owner that the Pilot Program and the evaluation of the Pilot Program are complete. (2)Personally identifiable informationThe Secretary shall, not later than 180 days after the date of the 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 evaluationNot later than 12 months after the establishment of the Pilot Program under this section, the Secretary shall publicly publish and submit to the Congress a report that— (A)examines the number of temperature-related complaints and 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 evaluationNot later than 36 months after the conclusion of the Pilot Program established by the Secretary under this section, the Secretary shall publicly publish and submit to the Congress a report that— (A)examines the number of temperature-related complaints and 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 projectsProjects 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)SunsetThe Pilot Program established under this section shall terminate on the date that is 3 years after the date of the enactment of this section. (i)DefinitionsFor the purposes of this section: (1)Approved temperature sensorThe 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. (2)AssistanceThe term assistance means any grant, loan, subsidy, contract, cooperative agreement, or other form of financial assistance, but such term does not include the insurance or guarantee of a loan, mortgage, or pool of loans or mortgages. (3)Covered federally assisted rental dwelling unitThe 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 (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)OwnerThe 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 of public housing units as defined in section 905.108 of title 24, Code of Federal Regulations; (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 section (k)(4) of the Housing Act of 1959; 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 section 811(k)(5) of the Cranston-Gonzalez National Affordable Housing Act.

107.Housing supply frameworks (a)DefinitionsIn this section: (1)Affordable housingThe 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 secretaryThe term Assistant Secretary means the Assistant Secretary for Policy Development and Research of the Department of Housing and Urban Development. (3)Local zoning frameworkThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (5)State zoning frameworkThe 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 generalNot 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 commentDuring 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)ContentsThe 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; (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 generalThe 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)RepealSection 1205 of the Housing and Community Development Act of 1992 (42 U.S.C. 12705d) is repealed. (d)ReportingNot 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 the 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 constructionNothing 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). IIBuilding More in America

201.Increasing housing in opportunity zones (a)Covered grant definedIn 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)PriorityWhen 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.

202.Whole-Home Repairs Act (a)DefinitionsIn this section: (1)Affordable unitThe 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 unitThe 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-ownerThe 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 landlordThe 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 propertyThe 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 loanThe 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 organizationThe 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 TribeThe 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 nonprofitThe 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 home-ownership 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 (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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (11)Specified programFor 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)StateThe 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 entityThe 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 repairsThe 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)EstablishmentThere 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 fundsAn 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 agreementIn 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 generalAn 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)ConsiderationsIn 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 informationThe 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). (6)Grant numberIn 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 forgivenIf 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 supplantAmounts 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 efficiencyTo 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 reportAn 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 alignmentTo 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 reportsNot 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 CongressThe 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 reviewA 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)TerminationThe Pilot Program established under this subsection shall terminate on October 1, 2031.

203.Community Investment and Prosperity Act (a)Revised StatutesThe 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 ActSection 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)StudyNot later than 2 years after the date of the 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 and State member banks under section 9(23) of the Federal Reserve Act 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 less 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 less 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; or (B)in the case of a report by the Board of Governors, section 9(23) of the Federal Reserve Act.

204.Addition of affordable housing construction as an eligible activity (a)Eligible activitySection 105(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(a)) is amended— (1)in paragraph (25)(D), 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 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 requirementSection 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)ApplicabilityThe amendments made by this section shall apply with respect only to amounts appropriated after the date of enactment of this Act.

205.Better Use of Intergovernmental and Local Development (BUILD) Housing Act (a)Designation of environmental review procedureThe 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:

13.Designation of environmental review procedure (a)In generalExcept 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). (b)ExceptionThe 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 obligationsSection 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 TribeFor 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 generalExcept 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)ExceptionIf 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.

206.Unlocking Housing Supply Through Streamlined and Modernized Reviews Act (a)DefinitionsIn this section: (1)Infill projectThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)NEPA streamlining for HUD housing-related activities (1)In generalThe 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)ImplementationFor 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)ReportThe 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.

207.Grants for planning and implementation associated with affordable housing (a)DefinitionsIn this section: (1)Eligible entityThe 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 planThe 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 strategyThe term housing strategy means a housing strategy required under section 105 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12705). (4)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)EstablishmentNot 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 agenciesIf 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 countiesIf 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 costsA eligible entity that receives amounts under this section may not use more than 10 percent of those amounts for administrative costs. (d)CoordinationTo the extent practicable, the Secretary shall coordinate with the Administrator of the Federal Transit Administration in carrying out this section. (e)Expiration of authorityAfter 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)SunsetThe program established under this section shall terminate on the date that is 5 years after the date of enactment of this Act.

208.Innovation Fund (a)DefinitionsIn this section: (1)Attainable housingThe 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 entityThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)Establishment of a grant program (1)EstablishmentNot 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 entitiesThe Secretary shall make a list of eligible entities publicly available on the website of the Department of Housing and Urban Development. (3)Eligible purposesAn 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 generalAn 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)InitiativesInitiatives 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 generalThe 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 awardsNo grant awarded under this paragraph may be— (i)more than $10,000,000; or (ii)less than $250,000. (C)PriorityWhen 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 termsProjects 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 constructionNothing 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)SunsetThe 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 generalThere is authorized to be appropriated to carry out this section $200,000,000 for each of fiscal years 2027 through 2031. (2)AdjustmentThe amount authorized to be appropriated under paragraph (1) shall be adjusted for inflation based on the Consumer Price Index for all Urban Customers published by the Bureau of Labor Statistics of the Department of Labor.

209.Accelerating Home Building Act (a)DefinitionsIn this section: (1)Affordable housingThe 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 structureThe 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 entityThe 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 areaThe 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 developmentThe 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 housingThe 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 designsThe 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 areaThe term rural area means any area other than a city or town that has a population of less than 50,000 inhabitants. (9)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)AuthorityThe 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)ConsiderationsIn 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 areasOf 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)ReportsThe 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 informationThe 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 repaymentThe 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 assistanceThe 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.

210.Revitalizing Empty Structures Into Desirable Environments (RESIDE) Act (a)In generalSubtitle 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:

227.Revitalizing empty structures into desirable environments (a)DefinitionsIn this section: (1)Attainable housingThe 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 unitThe term converted housing unit means a housing unit that is created using a covered grant. (3)Covered grantThe term covered grant means a grant awarded under the Pilot Program. (4)Eligible entityThe term eligible entity means a participating jurisdiction. (5)Pilot ProgramThe term Pilot Program means the Pilot Program established under subsection (b). (6)Vacant and abandoned buildingThe 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 programSubject 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 generalFor 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 fundingFor 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 allocationA 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)PriorityIn 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 fundsAn 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 authorityIn 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; reportNot 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 amendmentThe 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..

211.Housing Affordability Act (a)In generalTitle 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 generalThe Secretary shall publish in the Federal Register any adjustments made to the Dollar Amounts. (2)RoundingThe 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 constructionNothing 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. IIIManufactured Housing for America

301.Housing Supply Expansion Act (a)In generalSection 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 chassisSection 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 generalThe 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 standardsThe 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 certificationsSection 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 certificationSubject 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 (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 submissionAny 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 deadlineWith 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 waiverThe 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 constructionNothing 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 planThe 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 recertificationNot 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)ListThe 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)DefinitionIn 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 saleIf 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 homesThe 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). (e)Assistance to StatesSection 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)PreemptionNothing 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)). (g)Primary authority to establish manufactured home construction and safety standardsThe National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5401 et seq.) is further amended— (1)in section 603(7), by inserting energy efficiency, after design,; and (2)in section 604, by adding at the end the following: (j)Primary authority to establish standards (1)In generalThe Secretary shall have the primary authority to establish Federal manufactured home construction and safety standards. (2)Approval from secretary (A)In generalThe head of any Federal agency that seeks to establish a manufactured home construction and safety standard on or after the date of the enactment of this subsection— (i)shall submit to the Secretary a proposal describing such standard; and (ii)may not establish such standard without approval from the Secretary. (B)Rejection of standardsThe Secretary shall reject a standard submitted to the Secretary for approval under subparagraph (A)— (i)if the standard would significantly increase the cost of producing manufactured homes, as determined by the Secretary; (ii)if the standard would conflict with existing manufactured home construction and safety standards established by the Secretary; or (iii)for any other reason as determined appropriate by the Secretary. (C)Rule of constructionNothing in this subsection may be construed to require the Secretary to establish new or revised Federal manufactured home construction and safety standards..

302.Modular Housing Production Act (a)DefinitionsIn this section: (1)Manufactured homeThe 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 homeThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)FHA construction financing programs (1)In generalThe Secretary shall conduct a review of Federal Housing Administration construction financing programs to identify barriers to the use of modular home methods. (2)RequirementsIn 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)ReportNot 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 generalNot 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)DeterminationFollowing 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 homesThe 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.

303.Property Improvement and Manufactured Housing Loan Modernization Act (a)National Housing Act amendments (1)In generalSection 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;; (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 limitationsThe 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 indexNot 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 indexDuring 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)DefinitionsIn this subsection: (A)offsite construction housingThe term offsite construction housing includes manufactured homes and modular homes. (B)Manufactured homeThe 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 homeThe 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)StudyNot later than 1 year after the date of the 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. IVAccessing the American Dream

401.Creating incentives for small-dollar loan originators (a)DefinitionsIn this section: (1)DirectorThe term Director means the Director of the Bureau of Consumer Financial Protection. (2)Small-dollar mortgageThe 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 practicesNot 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 OriginatorsIn performing the study 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)ContentsThe 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.

402.Small-dollar mortgage points and fees (a)Small-dollar mortgage definedIn this section, the term small-dollar mortgage means a mortgage with an original principal obligation of less than $100,000. (b)AmendmentsNot 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.

403.Appraisal Industry Improvement Act (a)Appraisal standards (1)Certification or licensing (A)In generalSection 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 an appraiser 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)ApplicationSubparagraph (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 requirementsOn 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)ImplementationNot 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 companiesSection 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 registrySection 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 generalSection 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 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 constructionNothing 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 appraiserSection 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 appraisersIn 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)DefinitionSection 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 appraiserThe 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 trainingSection 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 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 SubcommitteeSection 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,.

404.Helping More Families Save ActSection 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)DefinitionsIn this subsection: (A)Covered familyThe 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 entityThe term eligible entity means an entity described in subsection (c)(2). (C)Pilot programThe term Pilot Program means the Pilot Program established under paragraph (2). (D)Welfare assistanceThe 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)EstablishmentThe 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 generalAn 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 limitationAn 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)WithdrawalsA 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 recertificationFor 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 planA 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 incomeAny 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 generalAn 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 varietyThe 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-outAn 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 rentsDuring 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)AwardsNot 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 accountsAn 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 generalAssistance 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 terminationHousing assistance may not be terminated as a consequence of participating, or not participating, in the Pilot Program under this subsection for any period. (10)StudyNot 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 services, or the lack thereof, had on individual incomes. (11)WaiversTo 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)TerminationThe 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 appropriationsSubject 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)..

405.Choice in Affordable Housing Act (a)Satisfaction of inspection requirements through participation in other housing programsSection 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 buildingsA 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 ProgramA 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 ServiceA 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 inspectionsWhen 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 constructionNothing 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 unitsSection 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)DefinitionIn 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 inspectionUpon 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)EffectAn 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 selectedWhen 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).. VProgram Reform

501.HOME Investment Partnerships Reauthorization and Reform Act (a)AuthorizationSection 205 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12724) is amended to read as follows:

205.Authorization of programThe HOME Investment Partnerships Program under subtitle A is hereby authorized.. (b)Definition of community housing development organizationSection 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 familiesTitle 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 jurisdictionsSection 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)LimitationThe 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 generalSection 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 generalA 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 standardsThe 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 constructionNothing 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)RulemakingNot 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 limitationsSection 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 qualificationsSection 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 exceptionNotwithstanding 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 qualificationsSection 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 (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)QualificationHousing 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 corporationNotwithstanding 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 membersA 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 ownersHousing 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 fundsSection 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 organizationsSection 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 reuseIf 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 expansionSection 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 generalSection 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 exemptionsThe 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); and (4)new construction projects of 15 units or less. (f)Removing duplicative reviews (1)In generalTo 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 responsibilitiesThe 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 entitiesA 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)RulemakingNot 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)ApplicabilityAny activity generated under this subsection would be subject to an authorization of appropriations. (4)DefinitionSection 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704) is amended by adding at end the following new paragraph: (27)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 generalNot later than 180 days after the date of the enactment of this section, the Secretary of Housing and Urban Development 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 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 guidanceNot 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)ReportNot later than 270 days after the date of the enactment of this section, 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 requirementsTitle 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:

291.Nonapplicability of certain requirements for small projectsNotwithstanding 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 jurisdictionsSection 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 jurisdictionsThe 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 housingSection 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 housingSection 225 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12755) is amended by adding at the end the following: (e)ExceptionParagraphs (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 trustSection 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704) 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 forprofit 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 organizationsSection 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 resourcesSection 220(b) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12750(b)) is amended— (A)by striking Recognition.— and all that follows through A contribution and inserting Recognition.—A contribution; (B)by redesignating subparagraphs (A) and (B) as paragraphs (1) and (2), respectively and (C)by striking paragraph (2). (2)Modification of jurisdictions eligible for reallocationsSection 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 reallocationThe 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 entityUnless otherwise specified. (3)Home property inspectionsSection 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 generalEach 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 governmentA 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 statesA 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 publicationA 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 noncomplianceSection 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 allocationsSection 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; (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 amendmentsThe 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 and inserting Subcommittee on Housing and Insurance; (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).

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 proceduresSection 363(2) of the Multifamily Mortgage Foreclosure Act of 1981 (12 U.S.C. 3702(2)) is amended— (A)in subparagraph (E), by striking and at the end; (B)in subparagraph (F), by striking the period at the end and inserting ; or; and (C)by adding at the end the following: (F)section 514, 515, or 538 of the Housing Act of 1949 (42 U.S.C. 1484, 1485, 1490p–2).. (2)Preservation of contractSection 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 familiesNot 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 upgradesUtilizing 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 appropriationsUtilizing 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)AvailabilityAmounts appropriated pursuant to paragraph (1) shall remain available until the date that is 5 years after the date of the appropriation. (3)TimelineThe 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 programTitle V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.) is amended by adding at the end the following:

545.Housing preservation and revitalization program (a)EstablishmentThe 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 ownersOn 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 generalOn 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)LanguageNotice 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 restructuringUnder 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 generalWhen 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. (2)Additional rental assistanceWith 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)RequirementAs 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 contractExcept 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 contractIf 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)TerminationThe 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 contractIf 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 assistanceWith 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 generalAny 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 amountsSubject 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 generalSubparagraph (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)RentIf the Secretary makes a positive determination under clause (i), the Secretary may approve a budget-based rent level for the project. (4)Conditions for approvalBefore 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 assistanceUnder 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 expensesOf 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 generalNot 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 ruleNot 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 authoritySection 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 eligibilitySection 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 initiativeSubtitle 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: 381O.Rural community development initiative (a)DefinitionsIn this section: (1)Eligible entityThe 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 intermediaryThe term eligible intermediary means a qualified— (A)private, nonprofit organization; or (B)public organization. (b)EstablishmentThe 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 grantsThe amount of a grant provided to an eligible intermediary under this section shall be not more than $500,000. (d)Matching funds (1)In generalAn 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)WaiverThe 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 programsTitle 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:

546.Annual report (a)In generalThe 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 informationThe 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 technologyNot 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; (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 generalNot 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 reviewThe 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 generalThe 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)ConsiderationsIf 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 dateFollowing 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)DeadlineThe 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 vouchersSection 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 projectsThe 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 assistanceNotwithstanding 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 projectsSection 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 organizationsA 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 generalSection 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)ApplicationThe 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 borrowerSection 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 assumptionUpon 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 generalThe mortgagee may charge an assuming borrower a reasonable and customary processing fee for an assumption request made under this subsection. (B)Maximum feeThe Secretary shall set a maximum allowable fee described in subparagraph (A), which may be indexed for inflation.. (q)Department of Agriculture loan restrictions (1)DefinitionsIn 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)RevisionThe 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 guaranteesSection 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)DefinitionIn 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 requirementLoans may be guaranteed; and (3)by adding at the end the following: (C)Rule of constructionNothing 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 CongressIt 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 generalNot 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 describedThe 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.

503.Incentivizing local solutions to homelessnessSection 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 generalNotwithstanding 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 generalA 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. (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)NotificationEach 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; publicationThe 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 generalA 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)NotificationIf 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)PublicationThe 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.. VIVeterans and Housing

601.Military Service Question (a)In generalSubpart 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: 1329.Uniform residential loan applicationNot 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 studyNot 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 the 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).

602.Housing Unhoused Disabled Veterans Act (a)Exclusion of certain disability benefitsSection 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 generalWhen determining the eligibility of a veteran to rent a residential dwelling unit constructed on Department property on or after the date of the 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)DefinitionsIn this subsection: (A)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (B)Department propertyThe term Department property has the meaning given the term in section 901 of title 38, United States Code. VIIOversight and Accountability

701.Requiring annual testimony and oversight from housing regulatorsSection 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 testimonyThe 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..

702.FHA reporting requirements on safety and soundnessSection 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 reportingThe 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)..

703.United States Interagency Council on Homelessness oversightSection 203(a) of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11313(a)) is amended— (1)in paragraph (1)— (A)by striking Homeless Emergency Assistance and Rapid Transition to Housing Act of 2009 and inserting 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..

704.Appraisal Modernization Act (a)Reconsideration of value (1)Federally backed mortgage loan definedIn 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)RequirementThe 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 definedIn 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 reportNo 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)PurposeThe 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)ConsultationAs 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)HearingUpon 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. VIIIAccountability, Coordination, Studies, and Reporting

801.HUD–USDA–VA Interagency Coordination Act (a)Memorandum of understandingThe 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)ReportNot 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)PublicationThe 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.

802.Streamlining Rural Housing Act (a)In generalNot 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)ReportNot 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.

803.Improving self-sufficiency of families in HUD-subsidized housing (a)In general (1)StudySubject to subsection (b), the Secretary of Housing and Urban Development shall 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)ScopeThe 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)ReportNot 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 describedThe 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)DeterminationThe 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).

804.GAO studies (a)Workforce housing study (1)Middle-income household definedIn 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)StudyNot 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 disabledNot 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 sitesNot 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 propertyNot 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.

805.Improving public housing agency accountability (a)In generalThe 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 such 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. (b)Federal monitor and receiver transparency (1)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)In addition to the written assessment required in paragraph (1), upon written request by the Committee on Financial Services of the House of Representatives or the Committee on Banking, Housing, and Urban Affairs of the Senate, 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 Financial Services of the House of Representatives or the Committee on Banking, Housing, and Urban Affairs of the Senate with respect to the covered public housing agency which such receiver or Federal monitor is appointed to oversee, including presenting testimony upon request. (c)Disclosure requiredThe Secretary shall, not later than 1 year after the date of the enactment of this section, 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. (5)The name of the official who solicited the contract. (d)Inspector general reviewNot 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. (e)Definitions (1)Covered public housing agencyThe term covered public housing agency means a public housing agency (as such term is 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 generalThe term inspector general means the inspector general of the Department of Housing and Urban Development. (3)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. IXStrengthening Community Banks’ Role in Housing

901.Community bank deposit access (a)In generalSection 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 generalCustodial 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)DefinitionsIn this subsection: (A)Custodial depositThe 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 institutionThe 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)PlanThe 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 administratorThe 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 capitalizedThe term well capitalized has the meaning given the term in section 38(b).. (b)Interest rate restrictionSection 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)DefinitionsIn 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)ProhibitionA 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 ratesThe 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..

902.Keeping deposits local (a)Amount of reciprocal deposits that are not considered to be funds obtained by or through a deposit brokerSection 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 generalThe 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 $250,000,000,000.. (b)Definition of agent institutionSection 29(i)(2)(A)(i) of the Federal Deposit Insurance Act (12 U.S.C. 1831f(i)(2)(A)(i)) is amended by striking subclause (I) and inserting the following: (I)when most recently examined under section 10(d) 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); and. (c)Reciprocal deposits study (1)In generalThe 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)ContentsThe 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)ReportNot 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).

903.Tailored regulatory updates for supervisory testingSection 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.

904.Credit union board modernizationSection 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 generalThe 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)MeetingsThe 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..

905.Systemic risk authority transparency (a)GAO reviewSection 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 generalThe 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 constructionNothing 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 reportSection 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 generalThe 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 privilegeThe 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 generalA 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 materialsIf 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 materialsIf, 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)PrivilegeFor purposes of this subparagraph, the term privilege includes any work-product, attorney-client, or other privilege recognized under Federal or State law. (C)Report extensionA 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 reportsA 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 constructionNothing 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..

906.Least cost exception (a)In generalSection 13(c)(4) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)) is amended— (1)in subparagraph (A)(ii), by inserting except as provided in subparagraph (I), before the total amount; (2)in subparagraph (E)(i), by inserting and except as provided in subparagraph (I), after appropriate,; and (3)by adding at the end the following: (I)Least cost resolution exception (i)In generalWith respect to an exercise of authority by the Corporation described in subparagraph (A), the Corporation may, at the discretion of the Corporation, select an alternative method of exercising such authority that is not the least costly to the Deposit Insurance Fund, if— (I)the Corporation determines that the selected alternative complies with the requirements of clause (iii); and (II)the Corporation and the Board of Governors of the Federal Reserve System, after consultation with the Secretary of the Treasury, determine that the potential additional risks to the Deposit Insurance Fund of the selected alternative are outweighed by the reasonably expected benefits of limiting further concentration of the United States banking system in global systemically important banking organizations. (ii)Maximum cost to the deposit insurance fundNot later than 1 year after the date of enactment of this subparagraph, the Corporation, by rule, shall establish criteria for determining on a case-by-case basis the maximum allowable cost against the net worth of the Deposit Insurance Fund that may be utilized to account for any determination under clause (i). (iii)Requirements describedThe requirements for the selected alternative described in clause (i) are as follows: (I)The selected alternative is the least costly to the Deposit Insurance Fund of all alternatives that do not involve a transaction with a global systemically important banking organization and that do not exceed the cost of liquidating the insured depository institution. (II)The difference between the cost of the selected alternative and the cost of a covered alternative is less than or equal to the maximum cost to the Deposit Insurance Fund specified pursuant to the rule adopted under clause (ii). (III)In the case of a selected alternative that involves another person purchasing assets of the insured depository institution or assuming deposit liabilities of the insured depository institution, such person agrees to pay an assessment to the Corporation comprised of payments— (aa)made over a period to be determined by the Corporation, but which may not be less than 5 years; and (bb)in an amount that takes into account, on a case-by-case basis, criteria the Corporation, by rule, shall establish, including a realistic discount rate, the aggregate amount equal to the difference calculated in subclause (II), and any bid inconsistent with the purposes of this Act, with such rule to be established by the Corporation not later than 1 year after the date of enactment of this subparagraph. (iv)Report to congressNot later than 30 days after selecting an alternative described in clause (i), the 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 an analysis of the economic difference between the cost to the Deposit Insurance Fund of the selected alternative and the cost to the Deposit Insurance Fund of the least costly alternative that would have been selected absent the application of this subparagraph. (v)Cost determinationsAll cost determinations required under this subparagraph shall be made in accordance with subparagraphs (B) and (C). (vi)DefinitionsIn this subparagraph: (I)Covered alternativeThe term covered alternative means a method of exercising authority described in subparagraph (A) that is the least costly to the Deposit Insurance Fund of all such methods that involve a sale of all or substantially all assets of the insured depository institution to, and assumption of all or substantially all deposit liabilities of the insured depository institution by, a global systemically important banking organization. (II)Global systemically important banking organizationThe term global systemically important banking organization means a global systemically important BHC (as such term is defined in section 217.402 of title 12, Code of Federal Regulations, or any successor thereto) and any affiliate thereof.. (b)Rule of constructionSection 13(c)(4)(H) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)(H)) does not apply to the amendments made by subsection (a).

907.Failing bank acquisition fairness (a)Concentration limit exceptions only available to avoid serious adverse economic or financial effects (1)Concentration limits with respect to deposits (A)Federal Deposit Insurance ActThe Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) is amended— (i)in section 18(c)(13)— (I)by amending subparagraph (B) to read as follows: (B)Subparagraph (A) shall not apply to an interstate merger transaction if— (i)such interstate merger transaction involves 1 or more insured depository institutions in default or in danger of default and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from a company that is not subject to the prohibition in subparagraph (A); or (ii)the Corporation provides assistance under section 13 to facilitate such interstate merger transaction and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from a company that is not subject to the prohibition in subparagraph (A).; and (II)in subparagraph (C)— (aa)in clause (i), by striking and at the end; (bb)in clause (ii), by striking the period at the end and inserting a semicolon; and (cc)by adding at the end the following: (iii)the term qualified bid means an application, proposed application, or bid from a company where— (I)if applicable, the company, any affiliate insured depository institution, and any affiliate depository institution holding company are well capitalized and well managed, as of the date of the application, proposed application, or bid; and (II)upon consummation of the transaction, the resulting insured depository institution is well capitalized; (iv)the term well capitalized— (I)with respect to an insured depository institution, has the meaning given such term in section 38(b) of the Federal Deposit Insurance Act (12 U.S.C. 1831o(b)); (II)with respect to a bank holding company, has the meaning given such term in section 2(o)(1)(B) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(o)(1)(B)); (III)with respect to a savings and loan holding company, has the meaning given such term in section 238.2 of title 12, Code of Federal Regulations; and (IV)with respect to a company that is not an insured depository institution, bank holding company, or savings and loan holding company, means maintaining equity capital that the Corporation determines is commensurate with the capital maintained by an insured depository institution that is well capitalized; and (v)the term well managed has the meaning given such term in section 2(o)(9) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(o)(9)).; and (ii)in section 44, by amending subsection (e) to read as follows: (e)Exception for banks in default or in danger of default (1)General exceptionThe responsible agency may, without regard to paragraph (1), (3), (4), or (5) of subsection (b) or paragraph (2), (4), or (5) of subsection (a), approve an application under subsection (a)(1) for approval of a merger transaction if— (A)the merger transaction involves 1 or more banks in default or in danger of default; or (B)the Corporation provides assistance under section 13(c) to facilitate such merger transaction. (2)Concentration limit exceptionThe responsible agency may, without regard to subsection (b)(2), approve an application under subsection (a)(1) for approval of a merger transaction if— (A)the merger transaction involves 1 or more banks in default or in danger of default and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in subsection (b)(2); or (B)the Corporation provides assistance under section 13(c) to facilitate such merger transaction and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in subsection (b)(2). (3)Qualified bid definedIn this subsection, the term qualified bid has the meaning given that term in section 18(c)(13)(C).. (B)Bank holding company act of 1956The Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) is amended— (i)in section 3(d), by amending paragraph (5) to read as follows: (5)Exception for banks in default or in danger of default (A)General exceptionThe Board may, without regard to subparagraph (B) or (D) of paragraph (1) or paragraph (3), approve an application pursuant to paragraph (1)(A) if— (i)the application is for an acquisition of 1 or more banks in default or in danger of default; or (ii)the application is for an acquisition with respect to which assistance is provided under section 13(c) of the Federal Deposit Insurance Act. (B)Concentration limit exceptionThe Board may, without regard to paragraph (2), approve an application pursuant to paragraph (1)(A) if— (i)the application is for the acquisition of 1 or more banks in default or in danger of default and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in paragraph (2); or (ii)the application is for an acquisition with respect to which assistance is provided under section 13(c) of the Federal Deposit Insurance Act and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in paragraph (2). (C)Qualified bid definedIn this paragraph, the term qualified bid has the meaning given that term in section 18(c)(13)(C) of the Federal Deposit Insurance Act.; and (ii)in section 4(i)(8), by amending subparagraph (B) to read as follows: (B)ExceptionSubparagraph (A) shall not apply to an acquisition if— (i)such acquisition involves an insured depository institution in default or in danger of default and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid (as defined in section 18(c)(13)(C) of the Federal Deposit Insurance Act) from another institution that is not subject to the prohibition in paragraph (2); or (ii)the Federal Deposit Insurance Corporation provides assistance under section 13 of the Federal Deposit Insurance Act to facilitate such acquisition and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid (as defined in section 18(c)(13)(C) of the Federal Deposit Insurance Act) from another institution that is not subject to the prohibition in paragraph (2).. (2)Concentration limit with respect to consolidated liabilitiesSection 14(c) of the Bank Holding Company Act of 1956 (12 U.S.C. 1852(c)) is amended— (A)by redesignating paragraphs (1), (2), and (3) as subparagraphs (A), (B), and (C), respectively; (B)by striking With the and inserting the following: (1)In generalWith the; and (C)by adding at the end the following: (2)LimitationThe Board may provide written consent for an acquisition described in paragraph (1)(A) or in paragraph (1)(B) only if the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid (as defined in section 18(c)(13)(C) of the Federal Deposit Insurance Act) from another institution that is not subject to the prohibition in subsection (b).. (b)Congressional notification and justification for waivers (1)In generalWhenever the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, or the Federal Deposit Insurance Corporation waives a concentration limit under section 18(c)(13)(B) or section 44(e) of the Federal Deposit Insurance Act or under section 3(d)(5), section 4(i)(8)(B), or section 14(c)(2) of the Bank Holding Company Act of 1956, in connection with the acquisition of a bank or insured depository institution in default or in danger of default, or in connection with an acquisition with respect to which the Federal Deposit Insurance Corporation provides assistance under section 13 of the Federal Deposit Insurance Act, the waiving agency and the Federal Deposit Insurance Corporation, jointly, shall, not later than 30 days after such waiver, submit a written 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— (A)a justification for the waiver, including an analysis of why it was necessary to prevent significant economic disruption or significant adverse effects on financial stability; (B)a description of alternative bids or outcomes considered, including efforts to solicit and encourage bids from entities that would not require a waiver; (C)an explanation of why alternative bids were not selected, if applicable; and (D)any recommendations for legislative or regulatory changes to improve competition in future insured depository institution resolutions. (2)Public disclosureThe waiving agency submitting a report under paragraph (1) and the Federal Deposit Insurance Corporation shall make the report publicly available on their respective websites, subject to redactions for confidential supervisory information and any other information described under section 552(b) of title 5, United States Code. (c)Limitation on considering bad faith bids in least cost determinationSection 13(c)(4) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)), as amended by section 906(a)(3), is further amended by adding at the end the following: (J)Limitation on considering bad faith bidsIn making a determination under this paragraph of whether an exercise of authority is the least costly to the Deposit Insurance Fund, the Corporation may not consider any application, proposed application, or bid from a company, if such application, proposed application, or bid would result in violation of— (i)section 18(c)(13) or 44(b)(2); or (ii)section 3(d)(2), 4(i)(8), or 14 of the Bank Holding Company Act of 1956..

908.Advancing the mentor-protégé program for small financial institutionsSection 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-protégé program (1)In generalThe Secretary of the Treasury shall establish a program to be known as the Financial Agent Mentor-Protégé 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)OutreachThe 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)ExclusionThe 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)ReportThe 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)DefinitionsIn this subsection: (A)Financial agentThe term financial agent means any national banking association designated by the Secretary of the Treasury to be employed as a financial agent of the Government. (B)Large financial institutionThe 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 institutionThe term rural depository institution means a depository institution (as defined in section 3 of the Federal Deposit Insurance Act)— (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)Small financial institutionThe 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..

909.American access to banking (a)Streamlining application process and review of capital raising by de novo regulated institutions (1)In generalEach 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)ReportNot later than 1 year after the date of the enactment of this section, and annually for 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 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 generalEach 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 dutiesEach 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 caseworkerEach 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-protégé partnerships (1)In generalAt 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 informationNot later than 1 year after the date of the enactment of this section, 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 generalEach 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 generalNot later than 2 years after the date of the enactment of this section, 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 commentWith 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 generalIn this section: (A)Federal banking agencyThe 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 agenciesThe 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 institutionThe 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)StateThe term State means each of the several States, the District of Columbia, and each territory of the United States. (E)State regulatorThe 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 constructionFor 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.

910.Promoting new bank formation (a)Pilot phase-in of capital standardsThe 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 generalDuring 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 changesThe appropriate Federal banking agency shall, not later than the end of the 90-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 actIf 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)StudyThe 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 congressNot 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)StudyThe 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 congressNot 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)DefinitionsIn this section: (1)Appropriate federal banking agencyThe 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 institutionThe 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 companyThe 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 agencyThe 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 institutionThe 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 bankThe 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.

911.Rural depositories revitalization study (a)StudyThe 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)ReportNot 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 unionsThe 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 unionsNot 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)DefinitionsIn this section: (1)Depository institutionThe 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 agenciesThe 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)RuralWith 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.

912.Discretionary surplus fund (a)In generalThe dollar amount specified under section 7(a)(3)(A) of the Federal Reserve Act (12 U.S.C. 289(a)(3)(A)) is reduced by $115,000,000. (b)Effective dateThe amendment made by subsection (a) shall take effect on September 30, 2035. XHome-ownership for Main Street America 1001. Homes are for people, not corporations (a)DefinitionsIn this section: (1)Consumer reporting agencyThe 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 purchaseThe 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)Single-family homeThe 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). (4)Large institutional investor (A)In generalThe 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 constructionFor 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. (5)PurchaseThe 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. (b)Prohibition on purchases by large institutional investors (1)In generalNo large institutional investor may purchase, or enter into a contract to directly or indirectly purchase, any single-family home. (2)ExceptionsThe 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 constructionNothing 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 generalIn 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 constructionFor 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; (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 generalThe Secretary shall, not later than 180 days after the date of the enactment of this section, 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 generalThe 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)ContentsResponses 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 generalThe 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 informationUpon 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 authorityWhen 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 resourceEach 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 generalThe 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 dataAny 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 informationIn 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 notificationNot 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 penaltiesThe 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 activitiesFor 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 reportNot 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 Senate Committee on Banking, Housing and Urban Affairs and the House Committee on Financial Services 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 reportNot 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 congressIt 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 dateThe 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). XICentral bank digital currency 1101.Central bank digital currencyThe 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: 16A.Central bank digital currency (a)DefinitionsIn this section: (1)Central bank digital currencyThe term central bank digital currency means a digital asset that— (A)is denominated in United States dollars; (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 assetThe term digital asset has the meaning given the term in section 2 of the GENIUS Act (12 U.S.C. 5901). (b)ProhibitionExcept 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)ExceptionSubsection (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)SunsetThis provisions of this section shall cease to be effective on December 31, 2030. (e)Rule of constructionNothing in this section shall be construed to allow the Board of Governors of the Federal Reserve 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.. XIIMiscellaneous 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. 1202.No additional funds authorizedNo additional funds are authorized to be appropriated to carry out the requirements of this Act or any amendment made by this Act. Kevin F. McCumberClerk.

112 HR 6644 EAS: 21st Century ROAD to Housing Act U.S. House of Representatives 2026-03-12 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. 119th CONGRESS2d SessionH.R. 6644In the Senate of the United States,March 12, 2026.Amendment:That the bill from the House of Representatives (H.R. 6644) entitled An Act to increase the supply of housing in America, and for other purposes., do pass with the following Strike all after the enacting clause and insert the following:

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 contentsThe table of contents for this Act is as follows:Sec. 1. Short title; table of contents.TITLE I—Improving Financial LiteracySec. 101. Reforms to housing counseling and financial literacy programs.TITLE II—Building More in AmericaSec. 201. Rental assistance demonstration program.Sec. 202. Increasing housing in opportunity zones.Sec. 203. Whole-Home Repairs Act.Sec. 204. Community Investment and Prosperity Act.Sec. 205. Build Now Act.Sec. 206. Addition of affordable housing construction as an eligible activity.Sec. 207. Better Use of Intergovernmental and Local Development (BUILD) Housing Act.Sec. 208. Unlocking Housing Supply Through Streamlined and Modernized Reviews Act.Sec. 209. Grants for planning and implementation associated with affordable housing.Sec. 210. Innovation Fund.Sec. 211. Accelerating Home Building Act.Sec. 212. Revitalizing Empty Structures Into Desirable Environments (RESIDE) Act.Sec. 213. Housing Affordability Act.TITLE III—Manufactured Housing for AmericaSec. 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 DreamSec. 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 ReformSec. 501. Reforming Disaster Recovery Act.Sec. 502. HOME Investment Partnerships Reauthorization and Reform Act.Sec. 503. Rural Housing Service Reform Act.Sec. 504. New Moving to Work cohort.Sec. 505. Incentivizing local solutions to homelessness.TITLE VI—Veterans and HousingSec. 601. VA Home Loan Awareness Act.Sec. 602. Veterans Affairs Loan Informed Disclosure (VALID) Act.Sec. 603. Housing Unhoused Disabled Veterans Act.TITLE VII—Oversight and AccountabilitySec. 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—Coordination, Studies, and ReportingSec. 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.TITLE IX—Homeownership for Main Street AmericaSec. 901. Homes are for people, not corporations.TITLE X—Central bank digital currencySec. 1001. Central bank digital currency.TITLE XI—MiscellaneousSec. 1101. Severability.Sec. 1102. No additional funds authorized.IImproving Financial Literacy101.Reforms to housing counseling and financial literacy programs(a)In generalSection 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)Performance reviewThe Secretary shall conduct performance reviews of all participating agencies that—(A)consist of a review of the participating agency’s compliance with all program requirements; and(B)may take into account the agency’s aggregate counselor performance under paragraph (8)(B).(7)Periodic reviewsThe Secretary may conduct periodic on-site reviews as the Secretary deems appropriate.(8)Considerations(A)Covered mortgage loan definedIn this paragraph, the term covered mortgage loan means any loan which is secured by a first or subordinate lien on residential real property (including individual units of condominiums and cooperatives) designed principally for the occupancy of 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)ComparisonFor each counselor employed by an organization receiving assistance under this section for pre-purchase 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.(9)CertificationIf, based on the comparison required under paragraph (8)(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 (8)(B); and(C)permanently 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 generalThe 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)NoticeThe 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 conferenceIf 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 definedIn 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) 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 borrowersA 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)CostIf 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))..IIBuilding More in America201.Rental assistance demonstration programThe 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)by striking the fourth proviso;(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..202.Increasing housing in opportunity zones(a)Covered grant definedIn 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)PriorityWhen 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 1986.203.Whole-Home Repairs Act(a)DefinitionsIn this section:(1)Affordable unitThe 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 unitThe 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 homeownerThe term eligible homeowner means a homeowner—(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; or(iii)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 landlordThe 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 propertyThe 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 loanThe 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 organizationThe 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)enter 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 tribeThe 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 nonprofitThe 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(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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(11)Specified programFor 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)StateThe 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 entityThe 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 repairsThe term whole-home repairs means modifications, repairs, or updates to homeowner 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)EstablishmentThere is authorized a pilot program to provide grants to implementing organizations to administer a whole-home repairs program for eligible homeowners and eligible landlords.(2)Use of fundsAn implementing organization that receives a grant from appropriated funds made available for this subsection—(A)shall provide grants to eligible homeowners 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 homeowners 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 homeowners 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 agreementIn 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 generalAn 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 homeowners 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)ConsiderationsIn 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 non-metropolitan 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 informationThe 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).(6)Grant numberIn 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 forgivenIf 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 supplantAmounts 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 efficiencyTo 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 homeowner, 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 homeowner or eligible landlord applies for assistance under this subsection. (10)Reporting requirements(A)Annual reportAn 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 homeownership 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 homeownership 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 alignmentTo 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 reportsNot 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 CongressThe 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 reviewA 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)TerminationThe pilot program established under this subsection shall terminate on October 1, 2031.

204.Community Investment and Prosperity Act(a)Revised StatutesThe 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 ActSection 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 20.205.Build Now Act(a)DefinitionsIn this section:(1)Covered recipientThe 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 rateThe 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 recipientThe 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 1-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 recipientThe 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 rateThe 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 rateThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(8)Section 106The 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 generalIn 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 generalIf, 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 amountFor 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 number of housing units, as of the third quarter of the preceding fiscal year, in the jurisdiction of the eligible recipient, as calculated by the Secretary; and(bb)the number of housing units, as of 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 medianIf, 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 requirementsIn 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 requirementsThe 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 periodsThe 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 rateBefore 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 generalNot 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)GuidanceAs 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 datesSubsection (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 appropriationsThis section shall not apply to amounts appropriated before the date of enactment of this Act.206.Addition of affordable housing construction as an eligible activity(a)Eligible activitySection 105(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(a)) is amended—(1)in paragraph (25)(D), 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 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 requirementSection 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)ApplicabilityThe amendments made by this section shall apply with respect only to amounts appropriated after the date of enactment of this Act.207.Better Use of Intergovernmental and Local Development (BUILD) Housing Act(a)Designation of environmental review procedureThe 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:13.Designation of environmental review procedure(a)In generalExcept 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).(b)ExceptionThe 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 obligationsSection 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 tribeFor 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 generalExcept 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)ExceptionIf 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.208.Unlocking Housing Supply Through Streamlined and Modernized Reviews Act(a)DefinitionsIn this section:(1)Infill projectThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)NEPA streamlining for HUD housing-related activities(1)In generalThe 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 homebuyers 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 pre-development 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 homeowner 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)ImplementationFor 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)ReportThe 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.209.Grants for planning and implementation associated with affordable housing(a)DefinitionsIn this section:(1)Eligible entityThe 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 planThe 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 strategyThe term housing strategy means a housing strategy required under section 105 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12705).(4)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)EstablishmentNot 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 agenciesIf 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 countiesIf 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 costsA eligible entity that receives amounts under this section may not use more than 10 percent of those amounts for administrative costs.(d)CoordinationTo the extent practicable, the Secretary shall coordinate with the Administrator of the Federal Transit Administration in carrying out this section.(e)Expiration of authorityAfter 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)SunsetThe program established under this section shall terminate on the date that is 5 years after the date of enactment of this Act.210.Innovation Fund(a)DefinitionsIn this section:(1)Attainable housingThe 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 entityThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)Establishment of a grant program(1)EstablishmentNot 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 entitiesThe Secretary shall make a list of eligible entities publicly available on the website of the Department of Housing and Urban Development.(3)Eligible purposesAn 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 generalAn 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)InitiativesInitiatives that meet the criteria described in paragraph (3)(D) 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 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 generalThe 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 awardsNo grant awarded under this paragraph may be—(i)more than $10,000,000; or(ii)less than $250,000.(C)PriorityWhen 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 termsProjects 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 constructionNothing 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)Authorization of appropriations(1)In generalThere is authorized to be appropriated to carry out this section $200,000,000 for each of fiscal years 2027 through 2031.(2)AdjustmentThe amount authorized to be appropriated under paragraph (1) shall be adjusted for inflation based on the Consumer Price Index for all Urban Customers published by the Bureau of Labor Statistics of the Department of Labor.211.Accelerating Home Building Act(a)DefinitionsIn this section:(1)Affordable housingThe 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 structureThe 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 entityThe 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 areaThe 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 developmentThe 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 housingThe term mixed-income housing means a housing development that is comprised of housing units that promote differing levels of affordability in the community.(7)Pre-reviewed designsThe term pre-reviewed 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 areaThe term rural area means any area other than a city or town that has a population of less than 50,000 inhabitants.(9)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)AuthorityThe Secretary is authorized to award grants to eligible entities utilizing funds appropriated for such purpose to select pre-reviewed 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)ConsiderationsIn 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 areasOf 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)ReportsThe 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 pre-reviewed designs selected using the grant amounts in their communities; (3)the number of permits issued for housing development utilizing pre-reviewed designs; and(4)the number of housing units produced in developments utilizing the pre-reviewed designs.(f)Availability of informationThe Secretary shall—(1)to the extent possible, encourage localities to make publicly available through a website information on the pre-reviewed 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 repaymentThe Secretary may require an eligible entity to return to the Secretary any grant funds received under this section if the selected pre-reviewed 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 assistanceThe 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 pre-grant technical assistance to prospective applicants.212.Revitalizing Empty Structures Into Desirable Environments (RESIDE) Act(a)In generalSubtitle 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:227.Revitalizing empty structures into desirable environments(a)DefinitionsIn this section:(1)Attainable housingThe 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 unitThe term converted housing unit means a housing unit that is created using a covered grant.(3)Covered grantThe term covered grant means a grant awarded under the Pilot Program.(4)Eligible entityThe term eligible entity means a participating jurisdiction.(5)Pilot ProgramThe term Pilot Program means the pilot program established under subsection (b).(6)Vacant and abandoned buildingThe 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 programSubject 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 generalFor 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 fundingFor 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 allocationA 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)PriorityIn 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 fundsAn 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.(g)Waiver authorityIn 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; reportNot 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 homeownership; and(4)removing blight..(b)Technical and conforming amendmentThe 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..213.Housing Affordability Act(a)In generalTitle 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 indicators 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 generalThe Secretary shall publish in the Federal Register any adjustments made to the Dollar Amounts.(2)RoundingThe 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 $66,544;(B)by striking $42,120 and inserting $73,710;(C)by striking $50,310 and inserting $88,043;(D)by striking $62,010 and inserting $108,518;(E)by striking $70,200 and inserting $122,850;(F)by striking , or not to exceed $17,460 per space;(G)by striking $43,875 and inserting $76,781;(H)by striking $49,140 and inserting $85,995;(I)by striking $60,255 and inserting $105,446;(J)by striking $75,465 and inserting $132,064; and(K)by striking $85,328 and inserting $149,324;(3)in section 213(b)(2) (12 U.S.C. 1715e(b)(2))—(A)by striking $41,207 and inserting $72,112;(B)by striking $47,511 and inserting $83,144;(C)by striking $57,300 and inserting $100,275;(D)by striking $73,343 and inserting $128,350;(E)by striking $81,708 and inserting $142,989;(F)by striking $43,875 and inserting $76,781;(G)by striking $49,710 and inserting $87,993;(H)by striking $60,446 and inserting $105,781;(I)by striking $78,197 and inserting $136,845; and(J)by striking $85,836 and inserting $150,213;(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 $66,544;(B)by striking $42,120 and inserting $73,710;(C)by striking $50,310 and inserting $88,043;(D)by striking $62,010 and inserting $108,518;(E)by striking $70,200 and inserting $122,850;(F)by striking $43,875 and inserting $76,781;(G)by striking $49,140 and inserting $85,995;(H)by striking $60,255 and inserting $105,446;(I)by striking $75,465 and inserting $132,064; and(J)by striking $85,328 and inserting $149,324;(5)in section 221(d)(4)(ii)(I) (12 U.S.C. 1715l(d)(4)(ii)(I))—(A)by striking $37,843 and inserting $66,225;(B)by striking $42,954 and inserting $75,170;(C)by striking $51,920 and inserting $90,860;(D)by striking $65,169 and inserting $114,046;(E)by striking $73,846 and inserting $129,231;(F)by striking $40,876 and inserting $71,533;(G)by striking $46,859 and inserting $82,003;(H)by striking $56,979 and inserting $99,713;(I)by striking $73,710 and inserting $128,993; and(J)by striking $80,913 and inserting $141,598;(6)in section 231(c)(2)(A) (12 U.S.C. 1715v(c)(2)(A))—(A)by striking $35,978 and inserting $62,962;(B)by striking $40,220 and inserting $70,385;(C)by striking $48,029 and inserting $84,051;(D)by striking $57,798 and inserting $101,147;(E)by striking $67,950 and inserting $118,913;(F)by striking $40,876 and inserting $71,533;(G)by striking $46,859 and inserting $82,003;(H)by striking $56,979 and inserting $99,713;(I)by striking $73,710 and inserting $128,993; and(J)by striking $80,913 and inserting $141,598; and(7)in section 234(e)(3)(A) (12 U.S.C. 1715y(e)(3)(A))—(A)by striking $42,048 and inserting $73,584;(B)by striking $48,481 and inserting $84,842;(C)by striking $58,469 and inserting $102,321;(D)by striking $74,840 and inserting $130,970;(E)by striking $83,375 and inserting $145,906;(F)by striking $44,250 and inserting $77,438;(G)by striking $50,724 and inserting $88,767;(H)by striking $61,680 and inserting $107,940;(I)by striking $79,793 and inserting $139,638; and(J)by striking $87,588 and inserting $153,279.(b)Multifamily loan limit studyThe 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.(c)ReportNot 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).IIIManufactured Housing for America301.Housing Supply Expansion Act(a)In generalSection 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 chassisSection 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 generalThe 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 standardsThe 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 certificationsSection 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 certificationSubject 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(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 submissionAny 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 deadlineWith 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 waiverThe 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 constructionNothing 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 planThe 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 recertificationNot 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)ListThe 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)DefinitionIn 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 saleIf 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 generalThe 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 definedIn 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)ProcessNo 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 standardsThe 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 StatesSection 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)PreemptionNothing in this section or the amendments made by this section shall 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)).302.Modular Housing Production Act(a)DefinitionsIn this section:(1)Manufactured homeThe 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 homeThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)FHA construction financing programs(1)In generalThe Secretary shall conduct a review of Federal Housing Administration construction financing programs to identify barriers to the use of modular home methods.(2)RequirementsIn 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)ReportNot 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 generalNot 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)DeterminationFollowing 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 homesThe 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.303.Property Improvement and Manufactured Housing Loan Modernization Act(a)National Housing Act amendments(1)In generalSection 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;;(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 limitationsThe 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 indexNot 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 indexDuring 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 off-site construction(1)DefinitionsIn this subsection:(A)Off-site construction housingThe term off-site construction housing includes manufactured homes and modular homes.(B)Manufactured homeThe 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 homeThe 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)StudyThe Secretary of Housing and Urban Development shall conduct a study and submit to Congress a report on the cost effectiveness of off-site 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 off-site 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 off-site 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.304.Price ActTitle 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:123.Preservation and reinvestment for community enhancement(a)DefinitionsIn this section:(1)Community development financial institutionThe 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 communityThe 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 recipientThe 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 tribeThe 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 communityThe 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 activitiesThe 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 entityThe 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)EstablishmentThere 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 generalAmounts 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)ReplacementFor 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 complies with the Manufactured Home Construction and Safety Standards or is another allowed type of home, as determined by the Secretary.(d)PriorityIn 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)WaiversThe 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 generalAny 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 amountsThe 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..IVAccessing the American Dream401.Creating incentives for small dollar loan originators(a)DefinitionsIn this section:(1)DirectorThe term Director means the Director of the Bureau of Consumer Financial Protection.(2)Small dollar mortgageThe 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 the occupancy of between 1 and 4 families; 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 practicesNot 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;(6)with a commission reflecting a percentage of the amount of credit extended, for which a minimum or maximum compensation amount is set; and(7)by any other mechanism that the Director may find to be a practice for compensating mortgage loan originators, including any mechanism that provides a loan originator with compensation in such a way that the loan originator does not necessarily receive a lower level of compensation for originating a small dollar mortgage than the loan originator would receive for originating a mortgage loan that is not a small dollar mortgage.(c)ContentsThe report required under subsection (b) shall include—(1)data and other analysis 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.(d)RulemakingFollowing the issuance of the report required under subsection (b), the Director may issue regulations to clarify the forms of compensation a lender may use to compensate a loan originator that—(1)are permissible pursuant to section 129B(c) of the Truth in Lending Act (15 U.S.C. 1639b(c)); and(2)would result in the loan originator receiving compensation for originating a small dollar mortgage that is not less than the compensation the loan originator would receive for originating a mortgage loan that is not a small dollar mortgage.402.Small dollar mortgage points and fees(a)Small dollar mortgage definedIn this section, the term small dollar mortgage means a mortgage with an original principal obligation of less than $100,000.(b)Amendments(1)In generalNot 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.(2)RulemakingFollowing the evaluation required under paragraph (1), the Director of the Bureau of Consumer Financial Protection may promulgate regulations to amend the limitations with respect to points and fees under section 1026.43 of title 12, Code of Federal Regulations, or any successor regulation, to encourage additional lending for small dollar mortgages.403.Appraisal Industry Improvement Act(a)Appraisal standards(1)Certification or licensing(A)In generalSection 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 an appraiser 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)ApplicationSubparagraph (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 requirementsOn 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)ImplementationNot 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 companiesSection 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 registrySection 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 generalSection 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 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 constructionNothing 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 appraiserSection 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 appraisersIn 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)DefinitionSection 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 appraiserThe 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 trainingSection 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 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 SubcommitteeSection 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,.

404.Helping More Families Save ActSection 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)DefinitionsIn this subsection:(A)Covered familyThe 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 entityThe term eligible entity means an entity described in subsection (c)(2).(C)Pilot programThe term pilot program means the pilot program established under paragraph (2).(D)Welfare assistanceThe 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)EstablishmentThe 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 generalAn 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 limitationAn 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)WithdrawalsA 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 recertificationFor 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 planA 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 incomeAny 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 generalAn 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 varietyThe 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-outAn 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 rentsDuring 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)AwardsNot 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 accountsAn 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 generalAssistance 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 terminationHousing assistance may not be terminated as a consequence of participating, or not participating, in the pilot program under this subsection for any period.(10)StudyNot 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 services, or the lack thereof, had on individual incomes.(11)WaiversTo 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)TerminationThe 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 appropriationsSubject 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)..405.Choice in Affordable Housing Act(a)Satisfaction of inspection requirements through participation in other housing programsSection 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 buildingsA 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 ProgramA 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 ServiceA 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 inspectionsWhen 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.(v)Rule of constructionNothing 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 unitsSection 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)DefinitionIn 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 inspectionUpon 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)EffectAn 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 selectedWhen 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)..VProgram Reform501.Reforming Disaster Recovery Act(a)DefinitionsIn this section:(1)DepartmentThe term Department means the Department of Housing and Urban Development.(2)FundThe term Fund means the Long-Term Disaster Recovery Fund established under subsection (c).(3)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)Duties of the Department of Housing and Urban Development(1)In generalThe 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 ResiliencySection 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)EstablishmentThere is established the Office of Disaster Management and Resiliency.(2)DutiesThe 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)EstablishmentThere 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 generalThe Fund shall consist of amounts appropriated, transferred, and credited to the Fund.(B)TransfersThe 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 amountsAmounts transferred to the Fund shall be used for the eligible uses described in paragraph (3).(3)Eligible uses of fund(A)In generalAmounts 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-asideOf 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 fundsWith 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 generalNot 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)AvailabilityFunding 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 amountsAny 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 amountsAmounts appropriated, transferred, and credited to the Fund shall remain available until expended.(6)Formula allocationUse 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 ProgramTitle 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 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:124.Community development block grant disaster recovery program(a)Authorization, formula, and allocation(1)AuthorizationThe Secretary is authorized to make community development block grant disaster recovery grants from the Long-Term Disaster Recovery Fund established under section 501(c) of the 21st Century ROAD to Housing Act (hereinafter 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 awardsGrants 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 allocationsGrants under this section shall not be considered relevant to the formula allocations made pursuant to section

106.(4)Federal Register notice(A)In generalNot 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 commentIf 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 generalThe 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 requirementsThe 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 thresholdThe Secretary shall, by regulation, establish a minimum allocation threshold.(D)Interim allocationUntil 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 generalThe 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 allocationIf 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 amountsIf 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 generalTo 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)MaximumThe Secretary may award preliminary funding under subparagraph (A) in an amount that is not more than $5,000,000.(ii)Sliding scaleThe 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 fundsThe 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 fundingPreliminary 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)WaiverTo 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 generalAn 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)ApplicabilityNotwithstanding 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 assistanceConcurrent 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 generalThe 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)RequirementsThe Secretary shall establish requirements to expedite the use of grants under this section for the purpose described in paragraph (1).(3)Emergency designationAmounts 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)RequirementNot 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 consultationTo 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)ApprovalThe 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 fundsNot 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)RegulationsThe 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)PrioritizationThe 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 allocationFor 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)DefinitionIn 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 areasThe 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 generalFor 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 assistanceAll 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 risksThe 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 generalThe 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)PolicyEach 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)CertificationsAny 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(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 generalThe 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 targetsThe 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)SuspensionIf 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 planIf 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)ReportIf 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 reportA 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 availabilitySubject 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 reportsTo 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)ConsiderationsIn 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 generalThe 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 protectionsIn 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 generalActivities 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)ProhibitionGrant 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 generalThe 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)AvailabilityAmounts 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 generalGrantees 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 fundsIf 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)WaiversIn carrying out this subparagraph, the Secretary may include any waivers or alternative requirements in accordance with subsection (i).(4)Program incomeNotwithstanding 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 generalGrants 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)ApplicabilityThe 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)RequirementsGrants 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)AdoptionA 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 fundsNotwithstanding 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 governmentThe 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 generalThe 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)CertificationBefore 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 allocationThe 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 generalFunds made available under this section shall be used in accordance 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)PenaltiesIn 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 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 complyAny 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 generalIn 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 dateA 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 notificationThe 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 amountsA 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)RecaptureThe 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 fundsNotwithstanding 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 fundsThe 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)DefinitionIn 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 rulesFollowing 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 Act and the amendments made by this Act and shall provide a 90-day period for submission of public comments on those proposed rules.(2)Final rulesNot 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 assistanceIn 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 agreementsTo 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 HUDAs 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 granteesThe 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)ReportingGrantees 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 informationThe 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 generalThe 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 agreementNotwithstanding 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.502.HOME Investment Partnerships Reauthorization and Reform Act(a)AuthorizationSection 205 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12724) is amended to read as follows:205.Authorization of programThe HOME Investment Partnerships Program under subtitle A is hereby authorized..(b)Definition of community housing development organizationSection 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 familiesTitle 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 jurisdictionsSection 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)LimitationThe 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 generalSection 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 generalA 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 standardsThe 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 constructionNothing 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)RulemakingNot 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 limitationsSection 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 qualificationsSection 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 exceptionNotwithstanding 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 homeownership housing qualificationsSection 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(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 homeownership and inserting the following:(1)QualificationHousing that is for homeownership;(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 homebuyers and inserting homebuyers 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 homebuyers 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 corporationNotwithstanding 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 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 homeownership(1)Military membersA 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 ownersHousing 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 fundsSection 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 organizationsSection 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 reuseIf 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 expansionSection 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)Application of other specified statutory requirementsTitle 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:291.Nonapplicability of certain requirements for small projectsNotwithstanding 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..(m)Reallocation not available for certain jurisdictionsSection 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 jurisdictionsThe 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..(n)Amendments to qualification as affordable housingSection 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.(o)Tenant and participant protections for affordable housingSection 225 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12755) is amended by adding at the end the following:(e)ExceptionParagraphs (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..(p)Revision of definition of community land trustSection 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704) 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 homeownership; 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..(q)Set-aside for community housing development organizationsSection 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.(r)Administrative reforms(1)Increase in program administration resourcesSection 220(b) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12750(b)) is amended—(A)by striking Recognition.— and all that follows through A contribution and inserting Recognition.—A contribution; and(B)by striking paragraph (2).(2)Modification of jurisdictions eligible for reallocationsSection 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 reallocationThe 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 entityUnless otherwise specified.(3)Home property inspectionsSection 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 generalEach participating jurisdiction; and(B)by striking Such review shall include and all that follows and inserting the following:(2)On-site inspections(A)Inspections by units of general local governmentA review conducted under paragraph (1) by a participating jurisdiction that is a unit of general local government shall include an on-site inspection to determine compliance with housing codes and other applicable regulations.(B)Inspections by statesA review conducted under paragraph (1) by a participating jurisdiction that is a State shall include an on-site inspection to determine compliance with a national standard as determined by the Secretary.(3)Inclusion in performance report and publicationA 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 noncomplianceSection 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..(s)Minimum allocationsSection 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;(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).(t)Technical and conforming amendmentsThe 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).503.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 proceduresSection 363(2) of the Multifamily Mortgage Foreclosure Act of 1981 (12 U.S.C. 3702(2)) is amended—(A)in subparagraph (D), by striking and at the end;(B)in subparagraph (E), by striking the period at the end and inserting ; or; and(C)by adding at the end the following:(F)section 514, 515, or 538 of the Housing Act of 1949 (42 U.S.C. 1484, 1485, 1490p–2)..(2)Preservation of contractSection 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 familiesNot 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 upgradesUtilizing 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 appropriationsUtilizing 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)AvailabilityAmounts appropriated pursuant to paragraph (1) shall remain available until the date that is 5 years after the date of the appropriation.(3)TimelineThe 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 programTitle V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.) is amended by adding at the end the following:545.Housing preservation and revitalization program(a)EstablishmentThe 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 ownersOn 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 generalOn 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)LanguageNotice 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 restructuringUnder 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 generalWhen 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.(2)Additional rental assistanceWith 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)RequirementAs 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 contractExcept 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 contractIf 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)TerminationThe Secretary may terminate the 20-year use 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 contractIf 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 assistanceWith 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 generalAny 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 amountsSubject 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 generalSubparagraph (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)RentIf the Secretary makes a positive determination under clause (i), the Secretary may approve a budget-based rent level for the project. (4)Conditions for approvalBefore 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 assistanceUnder the program under this section, the Secretary may provide grants to qualified nonprofit organizations 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 expensesOf 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 generalNot 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 ruleNot 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 authoritySection 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 eligibilitySection 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;(2)by inserting Not less than 60 percent of loan funds made available under this section shall be reserved and made available for very low-income applicants. after the first sentence; and(3)by striking $7,500 and inserting $15,000.(h)Rural community development initiativeSubtitle 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:381O.Rural community development initiative(a)DefinitionsIn this section:(1)Eligible entityThe 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 intermediaryThe term eligible intermediary means a qualified—(A)private, nonprofit organization; or (B)public organization.(b)EstablishmentThe 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 grantsThe amount of a grant provided to an eligible intermediary under this section shall be not more than $500,000.(d)Matching funds(1)In generalAn 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)WaiverThe 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 programsTitle 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:546.Annual report(a)In generalThe 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 informationThe 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 technologyNot 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;(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 generalNot 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 reviewThe 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 generalThe 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)ConsiderationsIf 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 dateFollowing 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)DeadlineThe 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 vouchersSection 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 projectsThe 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 assistanceNotwithstanding 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 projectsSection 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 organizationsA 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 generalSection 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)ApplicationThe 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 borrowerSection 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 assumptionUpon 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 generalThe mortgagee may charge an assuming borrower a reasonable and customary processing fee for an assumption request made under this subsection. (B)Maximum feeThe Secretary shall set a maximum allowable fee described in subparagraph (A), which may be indexed for inflation..(q)Department of Agriculture loan restrictions(1)DefinitionsIn 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)RevisionThe 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 guaranteesSection 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)DefinitionIn 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 requirementLoans may be guaranteed; and(3)by adding at the end the following:(C)Rule of constructionNothing 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 CongressIt 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 generalNot 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 describedThe 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.504.New Moving to Work cohort(a)DefinitionsIn this section:(1)Moving to work demonstrationThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)Authorization of additional public housing agencies(1)In generalAfter 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)NameThe new cohort authorized under paragraph (1) shall be entitled the Economic Opportunity and Pathways to Independence Cohort.(c)Waiver authority(1)In generalSubject 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)ModificationsThe 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 generalUnder 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 waversIf 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 optionsIn 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 generalPublic 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 usesSuch other uses of amounts described in paragraph (1) shall comply with all other applicable requirements.(3)Formula(A)RenewalThe 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 feesThe 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 requirementsThe 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 agenciesConsistent 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 generalIf 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)ComplianceUpon making a determination under paragraph (1), the Secretary shall develop a process to bring the public housing agency into compliance.(3)RemovalIf 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)NotificationUpon 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 generalThe 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)CoordinationThe 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 requirementNot 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:(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 generalThe 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 generalThe 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)DatabaseThe 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.505.Incentivizing local solutions to homelessnessSection 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 generalNotwithstanding 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 generalA 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.(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)NotificationEach 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; publicationThe 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 generalA 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)NotificationIf 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)PublicationThe 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..VIVeterans and Housing601.VA Home Loan Awareness Act(a)In generalSubpart 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:1329.Uniform residential loan applicationNot 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 disclaimer below the military service question 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 studyNot 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 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).602.Veterans Affairs Loan Informed Disclosure (VALID) Act(a)FHA informed consumer choice disclosure(1)Inclusion of information relating to va loansSubparagraph (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 constructionNothing 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 generalSubpart 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:1330.Uniform residential loan applicationNot 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; and(2)position the question described in paragraph (1) above the signature line of the Uniform Residential Loan Application..(2)RulemakingNot 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.603.Housing Unhoused Disabled Veterans Act(a)Exclusion of certain disability benefitsSection 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 generalWhen determining the eligibility of a veteran to rent a residential dwelling unit constructed on Department property on or after the date of the 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)DefinitionsIn this subsection:(A)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(B)Department propertyThe term Department property has the meaning given the term in section 901 of title 38, United States Code.VIIOversight and Accountability701.Requiring annual testimony and oversight from housing regulators(a)Requirement to testifySection 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 testimonyThe 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..(b)Government guaranteed or insured mortgagesOn an annual basis, the following individuals shall testify before the appropriate committees of Congress with respect to mortgage loans made, guaranteed, or insured by the Federal Government:(1)The President of the Government National Mortgage Association.(2)The Federal Housing Commissioner.(3)The Administrator of the Rural Housing Service.(4)The Executive Director of the Loan Guaranty Service of the Department of Veterans Affairs.(5)The Director of the Federal Housing Finance Agency.(c)Mortgagee review boardSection 202(c)(8) of the National Housing Act (12 U.S.C. 1708(c)(8)) is amended—(1)by striking , in consultation with the Federal Housing Administration Advisory Board,; and(2)by inserting and to Congress after the Secretary.702.FHA reporting requirements on safety and soundness(a)Monthly reporting on mutual mortgage insurance fund capital ratioSection 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 reportingThe Secretary shall—(A)submit to Congress monthly reports on the capital ratio required under section 205(f)(2); and(B)notify Congress as soon as practicable after the Fund falls below the capital ratio required under section 205(f)(2)..(b)Annual independent actuarial studySection 202(a)(4) of the National Housing Act (12 U.S.C. 1708(a)(4)) is amended—(1)by striking The Secretary and inserting the following:(A)DefinitionIn this paragraph, the term first-time homebuyer means a borrower for whom no consumer report (as defined in section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a)) indicates that the borrower has or had a loan with a consumer purpose that is secured by a 1- to 4-unit residential real property.(B)Study and reportThe Secretary; and(2)in subparagraph (B), as so designated, in the fourth sentence, by striking also and inserting detail how many loans were originated in each census tract to first-time homebuyers, and.(c)Annual reportSection 203(w)(2) of the National Housing Act (12 U.S.C. 1709(w)(2)) is amended by inserting and covered and first-time homebuyers (as defined in section 202(a)(4)(A)) after minority borrowers.703.United States Interagency Council on Homelessness oversightSection 203(a) of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11313(a)) is amended—(1)in paragraph (1)—(A)by striking Homeless Emergency Assistance and Rapid Transition to Housing Act of 2009 and inserting Renewing Opportunity in the American Dream to Housing Act; and(B)by striking update such plan annually and insertingsubmit 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(6)by adding at the end the following:(15)testify annually before Congress..704.Appraisal Modernization Act(a)Reconsideration of value(1)Federally backed mortgage loan definedIn 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)RequirementThe 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 definedIn 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 reportNo 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 is 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 is 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)PurposeThe 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)ConsultationAs 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)HearingUpon 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.VIIICoordination, Studies, and Reporting801.HUD-USDA-VA Interagency Coordination Act(a)Memorandum of understandingThe 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 facilitates evidence-based policymaking.(b)Interagency report(1)ReportNot 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)PublicationThe report required under paragraph (1) shall, prior to submission under that subsection, be published in the Federal Register and open for comment for a period of 30 days.802.Streamlining Rural Housing Act(a)In generalNot 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 the 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 sections 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 the Housing and Urban Development and the Department of Agriculture.(b)ReportNot 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 the 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.803.Improving self-sufficiency of families in HUD-subsidized housing(a)In general(1)StudySubject to subsection (b), the Secretary of Housing and Urban Development shall 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)ScopeThe 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)ReportNot 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 describedThe 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)DeterminationThe 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).804.GAO studies(a)Workforce housing study(1)Middle-income household definedIn 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)StudyNot 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 disabledNot 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 sitesNot 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 propertyNot 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 homeowners 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. IXHomeownership for Main Street America901.Homes are for people, not corporations(a)DefinitionsIn this section:(1)Consumer reporting agencyThe 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 purchaseThe 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 newly constructed single-family homes to be managed as rental properties, whether as communities exclusively of renter-occupied single-family homes or as communities 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)Single-family homeThe 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). (4)Large institutional investor(A)In generalThe 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 constructionFor 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.(5)PurchaseThe 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.(b)Prohibition on purchases by large institutional investors(1)In generalNo large institutional investor may purchase, or enter into a contract to directly or indirectly purchase, any single-family home.(2)ExceptionsThe 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 constructionNothing 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 generalIn 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;(ii)mitigate, to the extent possible, negative impacts on consumers and communities; and(iii)further clarify the application of the terms large institutional investor, single-family home, and excepted purchase, if the Secretary of the Treasury determines that such regulations will advance the availability of single-family homes for purchase by individual households.(B)Rule of constructionFor 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;(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)Disposal of homes under excepted purchases(1)Requirement to dispose(A)In generalWith respect to the purchase by a large institutional investor of a single-family home described in subparagraph (A), (B), or (C) of subsection (a)(2), or with respect to the purchase by a large institutional investor of a single-family home described in subparagraph (J) of subsection (a)(2) that ceases to meet the requirements of such subparagraph, the large institutional investor shall dispose of the single-family home to an individual homebuyer not later than 7 years after the date of purchase. (B)Subsequent purchaseFor the avoidance of doubt, any purchase of a single-family home described in subparagraph (A), (B), (C), or (J) of subsection (a)(2) shall remain subject to the terms of this section notwithstanding a subsequent purchase by a large institutional investor pursuant to another subparagraph of subsection (a)(2).(2)Application(A)Paragraph (1) shall not apply in the case of any large institutional investor which is a real estate investment trust if the disposal of such property would be a prohibited transaction that would lead to a 100 percent tax under the statute governing such types of entities.(B)In the case of a large institutional investor that has an active leasing contract with the renter of a single-family home described in paragraph (1) that went into effect not later than 6 months before the date of disposal under that paragraph, nothing in that paragraph shall be construed to require the large institutional investor to dispose of the single-family home subject to this subsection until the date on which such contract expires.(3)Requirements for disposal(A)Renter accommodationsIn the case of a renter described in paragraph (2)(B)—(i)the large institutional investor may provide the renter with the option to renew the active leasing contract in such subsection, except that the aggregate leasing period of renewals shall not exceed 36 consecutive months;(ii)the large institutional investor shall confirm whether the renter opts to renew the leasing contract, within the limitations of clause (i), through a written attestation; and(iii)the large institutional investor shall advertise the home pursuant to subparagraph (C) beginning on the earlier of—(I)the date on which the renter declines to renew the leasing contract; or (II)the date on which the leasing contract expires.(B)Renter option to purchaseBefore the large institutional investor disposes of a single-family home described in paragraph (1), the renter of the single-family home described in paragraph (2)(B) shall have the right of first refusal and a 30-day first look period to purchase the single-family home.(C)Advertisement of property(i)In generalOn the date that a renter described in paragraph (2)(B) declines to renew an active leasing contract with a large institutional investor under subparagraph (A), or declines a single-family home under subparagraph (B), the single-family home shall be—(I)widely advertised and free to access, and listed in publications, which may include internet platforms or a national Multiple Listing Service, by the large institutional investor; and(II)made broadly accessible to individual homebuyers and the general public, including any licensed real estate agents representing potential buyers.(ii)ComplianceIf a single-family home described in paragraph (1) is not purchased, or no offer to purchase is made, by an individual homebuyer within 60 days of the date on which the single-family home is advertised under clause (i), the large institutional investor shall be considered to be in compliance with the disposal requirements under paragraph (1).(D)Rule of constructionNothing in this paragraph shall be construed to require a renter to renew a lease or to affect State or local tenant-landlord laws regarding requirements related to lease renewal processes or leasing periods.(d)Enforcement(1)Civil penaltiesAny large institutional investor that violates subsection (b) or paragraph (1) or (2)(B) of subsection (c) shall be subject to a civil penalty of not more than $1,000,000 per violation, or 3 times the purchase price of the property involved, whichever is greater, enforced by the Secretary of the Treasury.(2)Transfer to HUD for homeownership expansion activitiesFor 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 reportNot 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 Senate Committee on Banking, Housing and Urban Affairs and the House Committee on Financial Services 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 reportNot 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 CongressIt 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 dateThe requirements and prohibitions under subsections (b), (c), 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).XCentral bank digital currency1001.Central bank digital currencyThe 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:16A.Central bank digital currency(a)DefinitionsIn this section:(1)Central bank digital currencyThe term central bank digital currency means a digital asset that—(A)is denominated in United States dollars;(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 assetThe term digital asset has the meaning given the term in section 2 of the GENIUS Act (12 U.S.C. 5901).(b)ProhibitionExcept 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)ExceptionSubsection (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)SunsetThis provisions of this section shall cease to be effective on December 31, 2030..XIMiscellaneous1101.SeverabilityIf 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.1102.No additional funds authorizedNo additional funds are authorized to be appropriated to carry out the requirements of this Act or any amendment made by this Act.Secretary

119 HR 6644 EAS2: 21st Century ROAD to Housing Act U.S. House of Representatives 2026-06-22 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. 119th CONGRESS2d SessionH.R. 6644In the Senate of the United States,June 22, 2026.Senate Amendment to House Amendment to Senate Amendment:That the Senate agree to the amendment of the House of Representatives to the amendment of the Senate to the bill (H.R. 6644) entitled An Act to increase the supply of housing in America, and for other purposes., with the following Strike all after the enacting clause and insert the following:

1.Short title; table of contents(a)Short titleThis Act may be cited as the 21st Century ROAD to Housing Act. (b)Table of contentsThe table of contents for this Act is as follows:Sec. 1. Short title; table of contents.TITLE I—Opportunities for HousingSec. 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 AmericaSec. 201. Increasing housing in opportunity zones.Sec. 202. Whole-Home Repairs Act.Sec. 203. Community Investment and Prosperity Act.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 AmericaSec. 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 DreamSec. 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 ReformSec. 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 HousingSec. 601. Military Service Question.Sec. 602. Housing Unhoused Disabled Veterans Act.Sec. 603. Veterans Affairs Loan Informed Disclosure (VALID) Act.TITLE VII—Oversight and AccountabilitySec. 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 ReportingSec. 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 HousingSec. 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-protégé 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 AmericaSec. 1001. Homes are for people, not corporations.TITLE XI—Central bank digital currencySec. 1101. Central bank digital currency.TITLE XII—MiscellaneousSec. 1201. Severability.Sec. 1202. No additional funds authorized.IOpportunities for Housing101.Reforms to housing counseling and financial literacy programsSection 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)ReviewsThe 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 definedIn 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)ComparisonFor 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)CertificationIf, 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 generalThe 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)NoticeThe 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 conferenceIf 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 definedIn 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 borrowersA 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)CostIf 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))..102.Federal guidelines for point-access block buildings(a)In generalNot 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)ContentsWhen 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;(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 councilThe 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 generalThe 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)SunsetThe 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 projectsProjects 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 constructionNothing in this section may be construed to preempt a State or local building code.(g)DefinitionsIn this section:(1)Eligible entityThe 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 buildingThe 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.103.Exemption on construction or modification of residential housing located on an infill site(a)ExemptionIn 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)ReportNot 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)DefinitionsIn this section:(1)GreenfieldThe term greenfield means a site that has not been developed, including a woodland, farmland, and an open field.(2)Infill siteThe 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.104.Database of publicly owned land(a)In generalSection 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 activitySection 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 dateThe amendment made by this subsection shall take effect on October 1, 2026.105.FHA Small-Dollar Mortgages(a)In generalNot 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)ReportBeginning 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)SunsetThe 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 authorityAfter 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 definedThe 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.106.Temperature Sensor Pilot Program(a)In generalThe 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 generalThe 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)CriteriaIn 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)InstallationEach 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 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 generalEach 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)DefinitionsThe 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 generalData 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 informationThe 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 evaluationNot 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 evaluationNot 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 projectsProjects 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)SunsetThe pilot program established under this section shall terminate on the date that is 3 years after the date of enactment of this section.(i)DefinitionsIn this section:(1)Approved temperature sensorThe 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)AssistanceThe 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 unitThe 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)OwnerThe 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.107.Housing supply frameworks(a)DefinitionsIn this section:(1)Affordable housingThe 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 secretaryThe term Assistant Secretary means the Assistant Secretary for Policy Development and Research of the Department of Housing and Urban Development.(3)Local zoning frameworkThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(5)State zoning frameworkThe 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 generalNot 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 commentDuring 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)ContentsThe 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;(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 generalThe 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)RepealSection 1205 of the Housing and Community Development Act of 1992 (42 U.S.C. 12705d) is repealed.(d)ReportingNot 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 constructionNothing 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).IIBuilding More in America201.Increasing housing in opportunity zones(a)Covered grant definedIn 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)PriorityWhen 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 1986.202.Whole-Home Repairs Act(a)DefinitionsIn this section:(1)Affordable unitThe 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 unitThe 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-ownerThe 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 landlordThe 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 propertyThe 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 loanThe 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 organizationThe 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 tribeThe 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 nonprofitThe 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(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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(11)Specified programFor 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)StateThe 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 entityThe 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 repairsThe 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)EstablishmentThere 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 fundsAn 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 agreementIn 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 generalAn 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)ConsiderationsIn 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 informationThe 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).(6)Grant numberIn 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 forgivenIf 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 supplantAmounts 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 efficiencyTo 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 reportAn 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 alignmentTo 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 reportsNot 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 CongressThe 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 reviewA 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)TerminationThe pilot program established under this subsection shall terminate on October 1, 2031.

203.Community Investment and Prosperity Act(a)Revised StatutesThe 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 ActSection 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)StudyNot 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).204.Addition of affordable housing construction as an eligible activity(a)Eligible activitySection 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 requirementSection 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)ApplicabilityThe amendments made by this section shall apply with respect only to amounts appropriated after the date of enactment of this Act.205.Better Use of Intergovernmental and Local Development (BUILD) Housing Act(a)Designation of environmental review procedureThe 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:13.Designation of environmental review procedure(a)In generalExcept 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).(b)ExceptionThe 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 obligationsSection 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 TribeFor 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 generalExcept 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)ExceptionIf 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.206.Unlocking Housing Supply Through Streamlined and Modernized Reviews Act(a)DefinitionsIn this section:(1)Infill projectThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)NEPA streamlining for HUD housing-related activities(1)In generalThe 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)ImplementationFor 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)ReportThe 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.207.Grants for planning and implementation associated with affordable housing(a)DefinitionsIn this section:(1)Eligible entityThe 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 planThe 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 strategyThe term housing strategy means a housing strategy required under section 105 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12705).(4)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)EstablishmentNot 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 agenciesIf 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 countiesIf 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 costsA eligible entity that receives amounts under this section may not use more than 10 percent of those amounts for administrative costs.(d)CoordinationTo the extent practicable, the Secretary shall coordinate with the Administrator of the Federal Transit Administration in carrying out this section.(e)Expiration of authorityAfter 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)SunsetThe program established under this section shall terminate on the date that is 5 years after the date of enactment of this Act.208.Innovation Fund(a)DefinitionsIn this section:(1)Attainable housingThe 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 entityThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)Establishment of a grant program(1)EstablishmentNot 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 entitiesThe Secretary shall make a list of eligible entities publicly available on the website of the Department of Housing and Urban Development.(3)Eligible purposesAn 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 generalAn 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)InitiativesInitiatives 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 generalThe 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 awardsNo grant awarded under this paragraph may be—(i)more than $10,000,000; or(ii)less than $250,000.(C)PriorityWhen 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 termsProjects 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 constructionNothing 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)SunsetThe 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 generalThere is authorized to be appropriated to carry out this section $200,000,000 for each of fiscal years 2027 through 2031.(2)AdjustmentThe amount authorized to be appropriated under paragraph (1) shall be adjusted for inflation based on the Consumer Price Index for all Urban Customers published by the Bureau of Labor Statistics of the Department of Labor.209.Accelerating Home Building Act(a)DefinitionsIn this section:(1)Affordable housingThe 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 structureThe 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 entityThe 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 areaThe 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 developmentThe 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 housingThe 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 designsThe 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 areaThe term rural area means any area other than a city or town that has a population of less than 50,000 inhabitants.(9)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)AuthorityThe 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)ConsiderationsIn 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 areasOf 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)ReportsThe 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 informationThe 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 repaymentThe 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 assistanceThe 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.210.Revitalizing Empty Structures Into Desirable Environments (RESIDE) Act(a)In generalSubtitle 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:227.Revitalizing empty structures into desirable environments(a)DefinitionsIn this section:(1)Attainable housingThe 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 unitThe term converted housing unit means a housing unit that is created using a covered grant.(3)Covered grantThe term covered grant means a grant awarded under the Pilot Program.(4)Eligible entityThe term eligible entity means a participating jurisdiction.(5)Pilot ProgramThe term Pilot Program means the pilot program established under subsection (b).(6)Vacant and abandoned buildingThe 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 programSubject 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 generalFor 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 fundingFor 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 allocationA 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)PriorityIn 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 fundsAn 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 authorityIn 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; reportNot 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 amendmentThe 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..211.Housing Affordability Act(a)In generalTitle 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 generalThe Secretary shall publish in the Federal Register any adjustments made to the Dollar Amounts.(2)RoundingThe 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 constructionNothing 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 studyThe 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)ReportNot 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).212.Rental Assistance Demonstration ProgramThe 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 an affordable housing tax credit or other housing affordability program..213.Build Now Act(a)DefinitionsIn this section:(1)Covered recipientThe 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 rateThe 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 recipientThe 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 recipientThe 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 rateThe 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 rateThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(8)Section 106The 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 generalIn 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 generalIf, 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 amountFor 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 medianIf, 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 requirementsIn 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 requirementsThe 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 periodsThe 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 rateBefore 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 generalNot 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)GuidanceAs 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 datesSubsection (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 appropriationsThis section shall not apply to amounts appropriated before the date of enactment of this Act.IIIManufactured Housing for America301.Housing Supply Expansion Act(a)In generalSection 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 chassisSection 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 generalThe 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 standardsThe 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 certificationsSection 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 certificationSubject 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(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 submissionAny 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 deadlineWith 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 waiverThe 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 constructionNothing 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 planThe 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 recertificationNot 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)ListThe 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)DefinitionIn 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 saleIf 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 generalThe 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 definedIn 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)ProcessNo 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 standardsThe 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 StatesSection 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)PreemptionNothing 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)).302.Modular Housing Production Act(a)DefinitionsIn this section:(1)Manufactured homeThe 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 homeThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)FHA construction financing programs(1)In generalThe Secretary shall conduct a review of Federal Housing Administration construction financing programs to identify barriers to the use of modular home methods.(2)RequirementsIn 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)ReportNot 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 generalNot 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)DeterminationFollowing 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 homesThe 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.303.Property Improvement and Manufactured Housing Loan Modernization Act(a)National Housing Act amendments(1)In generalSection 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;;(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 limitationsThe 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 indexNot 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 indexDuring 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)DefinitionsIn this subsection:(A)offsite construction housingThe term offsite construction housing includes manufactured homes and modular homes.(B)Manufactured homeThe 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 homeThe 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)StudyNot 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.304.PRICE Act(a)In generalTitle 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:123.Preservation and reinvestment for community enhancement(a)DefinitionsIn this section:(1)Community development financial institutionThe 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 communityThe 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 recipientThe 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 tribeThe 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 communityThe 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 activitiesThe 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 entityThe 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)EstablishmentThere 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 generalAmounts 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)ReplacementFor 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 complies with the Manufactured Home Construction and Safety Standards or is another allowed type of home, as determined by the Secretary.(d)PriorityIn 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)WaiversThe 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 generalAny 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 amountsThe 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)SunsetThe program established under this section shall terminate on the date that is 7 years after the date of enactment of this section..(b)ApplicationGrants 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.IVAccessing the American Dream401.Creating incentives for small-dollar loan originators(a)DefinitionsIn this section:(1)DirectorThe term Director means the Director of the Bureau of Consumer Financial Protection.(2)Small-dollar mortgageThe 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 practicesNot 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 OriginatorsIn 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)ContentsThe 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.402.Small-dollar mortgage points and fees(a)Small-dollar mortgage definedIn this section, the term small-dollar mortgage means a mortgage with an original principal obligation of less than $100,000.(b)AmendmentsNot 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.403.Appraisal Industry Improvement Act(a)Appraisal standards(1)Certification or licensing(A)In generalSection 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)ApplicationSubparagraph (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 requirementsOn 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)ImplementationNot 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 companiesSection 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 registrySection 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 generalSection 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 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 constructionNothing 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 appraiserSection 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 appraisersIn 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)DefinitionSection 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 appraiserThe 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 trainingSection 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 SubcommitteeSection 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,.

404.Helping More Families Save ActSection 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)DefinitionsIn this subsection:(A)Covered familyThe 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 entityThe term eligible entity means an entity described in subsection (c)(2).(C)Pilot programThe term Pilot Program means the Pilot Program established under paragraph (2).(D)Welfare assistanceThe 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)EstablishmentThe 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 generalAn 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 limitationAn 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)WithdrawalsA 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 recertificationFor 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 planA 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 incomeAny 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 generalAn 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 varietyThe 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-outAn 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 rentsDuring 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)AwardsNot 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 accountsAn 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 generalAssistance 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 terminationHousing assistance may not be terminated as a consequence of participating, or not participating, in the Pilot Program under this subsection for any period.(10)StudyNot 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 services, or the lack thereof, had on individual incomes.(11)WaiversTo 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)TerminationThe 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 appropriationsSubject 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)..405.Choice in Affordable Housing Act(a)Satisfaction of inspection requirements through participation in other housing programsSection 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 buildingsA 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 ProgramA 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 ServiceA 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 inspectionsWhen 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 constructionNothing 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 unitsSection 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)DefinitionIn 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 inspectionUpon 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)EffectAn 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 selectedWhen 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)..VProgram Reform501.HOME Investment Partnerships Reauthorization and Reform Act(a)AuthorizationSection 205 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12724) is amended to read as follows:205.Authorization of programThe HOME Investment Partnerships Program under subtitle A is hereby authorized..(b)Definition of community housing development organizationSection 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 familiesTitle 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 jurisdictionsSection 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)LimitationThe 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 generalSection 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 generalA 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 standardsThe 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 constructionNothing 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)RulemakingNot 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 limitationsSection 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 qualificationsSection 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 exceptionNotwithstanding 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 qualificationsSection 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(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)QualificationHousing 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 corporationNotwithstanding 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 membersA 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 ownersHousing 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 fundsSection 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 organizationsSection 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 reuseIf 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 expansionSection 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 generalSection 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 exemptionsThe 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 generalTo 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 responsibilitiesThe 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 entitiesA 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)RulemakingNot 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)ApplicabilityAny activity generated under this subsection would be subject to an authorization of appropriations.(4)DefinitionSection 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 generalNot 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 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 guidanceNot 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)ReportNot 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 requirementsTitle 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:291.Nonapplicability of certain requirements for small projectsNotwithstanding 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 jurisdictionsSection 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 jurisdictionsThe 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 housingSection 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 housingSection 225 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12755) is amended by adding at the end the following:(e)ExceptionParagraphs (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 trustSection 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 organizationsSection 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 resourcesSection 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 reallocationsSection 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 reallocationThe 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 entityUnless otherwise specified.(3)Home property inspectionsSection 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 generalEach 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 governmentA 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 statesA 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 publicationA 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 noncomplianceSection 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 allocationsSection 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;(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 amendmentsThe 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).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 proceduresSection 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 contractSection 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 familiesNot 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 upgradesUtilizing 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 appropriationsUtilizing 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)AvailabilityAmounts appropriated pursuant to paragraph (1) shall remain available until the date that is 5 years after the date of the appropriation.(3)TimelineThe 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 programTitle V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.) is amended by adding at the end the following:545.Housing preservation and revitalization program(a)EstablishmentThe 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 ownersOn 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 generalOn 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)LanguageNotice 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 restructuringUnder 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 generalWhen 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.(2)Additional rental assistanceWith 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)RequirementAs 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 contractExcept 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 contractIf 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)TerminationThe 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 contractIf 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 assistanceWith 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 generalAny 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 amountsSubject 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 generalSubparagraph (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)RentIf the Secretary makes a positive determination under clause (i), the Secretary may approve a budget-based rent level for the project. (4)Conditions for approvalBefore 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 assistanceUnder 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 expensesOf 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 generalNot 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 ruleNot 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 authoritySection 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 eligibilitySection 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 initiativeSubtitle 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:381O.Rural community development initiative(a)DefinitionsIn this section:(1)Eligible entityThe 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 intermediaryThe term eligible intermediary means a qualified—(A)private, nonprofit organization; or (B)public organization.(b)EstablishmentThe 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 grantsThe amount of a grant provided to an eligible intermediary under this section shall be not more than $500,000.(d)Matching funds(1)In generalAn 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)WaiverThe 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 programsTitle 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:546.Annual report(a)In generalThe 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 informationThe 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 technologyNot 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;(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 generalNot 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 reviewThe 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 generalThe 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)ConsiderationsIf 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 dateFollowing 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)DeadlineThe 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 vouchersSection 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 projectsThe 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 assistanceNotwithstanding 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 projectsSection 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 organizationsA 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 generalSection 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)ApplicationThe 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 borrowerSection 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 assumptionUpon 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 generalThe mortgagee may charge an assuming borrower a reasonable and customary processing fee for an assumption request made under this subsection. (B)Maximum feeThe Secretary shall set a maximum allowable fee described in subparagraph (A), which may be indexed for inflation..(q)Department of Agriculture loan restrictions(1)DefinitionsIn 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)RevisionThe 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 guaranteesSection 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)DefinitionIn 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 requirementLoans may be guaranteed; and(3)by adding at the end the following:(C)Rule of constructionNothing 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 CongressIt 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 generalNot 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 describedThe 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.503.Incentivizing local solutions to homelessnessSection 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 generalNotwithstanding 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 generalA 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.(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)NotificationEach 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; publicationThe 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 generalA 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)NotificationIf 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)PublicationThe 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..504.Reforming Disaster Recovery Act(a)DefinitionsIn this section:(1)DepartmentThe term Department means the Department of Housing and Urban Development.(2)FundThe term Fund means the Long-Term Disaster Recovery Fund established under subsection (c).(3)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)Duties of the Department of Housing and Urban Development(1)In generalThe 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 ResiliencySection 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)EstablishmentThere is established the Office of Disaster Management and Resiliency.(2)DutiesThe 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)EstablishmentThere 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 generalThe Fund shall consist of amounts appropriated, transferred, and credited to the Fund.(B)TransfersThe 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 amountsAmounts transferred to the Fund shall be used for the eligible uses described in paragraph (3).(3)Eligible uses of fund(A)In generalAmounts 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-asideOf 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 fundsWith 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 generalNot 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)AvailabilityFunding 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 amountsAny 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 amountsAmounts appropriated, transferred, and credited to the Fund shall remain available until expended.(6)Formula allocationUse 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 programTitle 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 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:124.Community Development Block Grant Disaster Recovery Program(a)Authorization, formula, and allocation(1)AuthorizationThe 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 awardsGrants 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 allocationsGrants under this section shall not be considered relevant to the formula allocations made pursuant to section

106.(4)Federal Register notice(A)In generalNot 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 commentIf 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 generalThe 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 requirementsThe 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 thresholdThe Secretary shall, by regulation, establish a minimum allocation threshold.(D)Interim allocationUntil 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 generalThe 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 allocationIf 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 amountsIf 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 generalTo 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)MaximumThe Secretary may award preliminary funding under subparagraph (A) in an amount that is not more than $5,000,000.(ii)Sliding scaleThe 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 fundsThe 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 fundingPreliminary 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)WaiverTo 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 generalAn 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)ApplicabilityNotwithstanding 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 assistanceConcurrent 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 generalThe 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)RequirementsThe Secretary shall establish requirements to expedite the use of grants under this section for the purpose described in paragraph (1).(3)Emergency designationAmounts 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)RequirementNot 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 consultationTo 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)ApprovalThe 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 fundsNot 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)RegulationsThe 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)PrioritizationThe 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 allocationFor 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)DefinitionIn 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 areasThe 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 generalFor 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 assistanceAll 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 risksThe 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 generalThe 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)PolicyEach 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)CertificationsAny 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(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 generalThe 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 targetsThe 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)SuspensionIf 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 planIf 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)ReportIf 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 reportA 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 availabilitySubject 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 reportsTo 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)ConsiderationsIn 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 generalThe 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 protectionsIn 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 generalActivities 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)ProhibitionGrant 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 generalThe 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)AvailabilityAmounts 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 generalGrantees 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 fundsIf 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)WaiversIn carrying out this subparagraph, the Secretary may include any waivers or alternative requirements in accordance with subsection (i).(4)Program incomeNotwithstanding 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 generalGrants 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)ApplicabilityThe 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)RequirementsGrants 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)AdoptionA 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 fundsNotwithstanding 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 governmentThe 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 generalThe 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)CertificationBefore 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 allocationThe 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 generalFunds made available under this section shall be used in accordance 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)PenaltiesIn 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 complyAny 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 generalIn 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 dateA 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 notificationThe 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 amountsA 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)RecaptureThe 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 fundsNotwithstanding 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 fundsThe 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)DefinitionIn 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 rulesFollowing 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 rulesNot 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 assistanceIn 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 agreementsTo 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 HUDAs 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 granteesThe 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)ReportingGrantees 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 informationThe 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 generalThe 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 agreementNotwithstanding 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)SunsetThe 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 CongressIt 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.(i)ApplicationGrants 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.505.New Moving to Work cohort(a)DefinitionsIn this section:(1)Moving to Work demonstrationThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)Authorization of additional public housing agencies(1)In generalAfter 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)NameThe new cohort authorized under paragraph (1) shall be entitled the Economic Opportunity and Pathways to Independence Cohort.(c)Waiver authority(1)In generalSubject 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)ModificationsThe 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 generalUnder 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 waversIf 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 optionsIn 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 generalPublic 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 usesSuch other uses of amounts described in paragraph (1) shall comply with all other applicable requirements.(3)Formula(A)RenewalThe 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 feesThe 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 requirementsThe 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 agenciesConsistent 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 generalIf 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)ComplianceUpon making a determination under paragraph (1), the Secretary shall develop a process to bring the public housing agency into compliance.(3)RemovalIf 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)NotificationUpon 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 generalThe 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)CoordinationThe 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 requirementNot 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:(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 generalThe 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 generalThe 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)DatabaseThe 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.VIVeterans and Housing601.Military Service Question(a)In generalSubpart 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:1329.Uniform residential loan applicationNot 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 studyNot 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).602.Housing Unhoused Disabled Veterans Act(a)Exclusion of certain disability benefitsSection 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 generalWhen 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)DefinitionsIn this subsection:(A)Department propertyThe term Department property has the meaning given the term in section 901 of title 38, United States Code.(B)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.603.Veterans Affairs Loan Informed Disclosure (VALID) Act(a)FHA informed consumer choice disclosure(1)Inclusion of information relating to VA loansSubparagraph (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 constructionNothing 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 generalSubpart 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:1330.Uniform residential loan applicationNot 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)RulemakingNot 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.VIIOversight and Accountability701.Requiring annual testimony and oversight from housing regulatorsSection 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 testimonyThe 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..702.FHA reporting requirements on safety and soundnessSection 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 reportingThe 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)..703.United States Interagency Council on Homelessness oversightSection 203(a) of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11313(a)) is amended—(1)in paragraph (1)—(A)by striking Homeless Emergency Assistance and Rapid Transition to Housing Act of 2009 and inserting 21st Century ROAD to Housing Act; and(B)by striking update such plan annually and insertingsubmit 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..704.Appraisal Modernization Act(a)Reconsideration of value(1)Federally backed mortgage loan definedIn 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)RequirementThe 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 definedIn 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 reportNot 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)PurposeThe 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)ConsultationAs 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)HearingUpon 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.VIIIAccountability, Coordination, Studies, and Reporting801.HUD–USDA–VA Interagency Coordination Act(a)Memorandum of understandingThe 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)ReportNot 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)PublicationThe 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.802.Streamlining Rural Housing Act(a)In generalNot 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)ReportNot 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.803.Improving self-sufficiency of families in HUD-subsidized housing(a)In general(1)StudySubject to subsection (b), the Secretary of Housing and Urban Development shall 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)ScopeThe 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)ReportNot 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 describedThe 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)DeterminationThe 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).804.GAO studies(a)Workforce housing study(1)Middle-income household definedIn 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)StudyNot 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 disabledNot 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 sitesNot 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 propertyNot 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.

805.Improving public housing agency accountability(a)DefinitionsIn this section:(1)Covered public housing agencyThe 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 GeneralThe term Inspector General means the Inspector General of the Department of Housing and Urban Development.(3)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)Required noticeThe 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 generalNotwithstanding 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 informationIn 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 requiredThe 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.(5)The name of the official who solicited the contract.(e)Inspector General reviewNot 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.IXStrengthening Community Banks’ Role in Housing901.Community bank deposit access(a)In generalSection 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 generalCustodial 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)DefinitionsIn this subsection:(A)Custodial depositThe 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 institutionThe 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)PlanThe 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 administratorThe 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 capitalizedThe term well capitalized has the meaning given the term in section 38(b)..(b)Interest rate restrictionSection 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)DefinitionsIn 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)ProhibitionA 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 ratesThe 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..902.Keeping deposits local(a)Amount of reciprocal deposits that are not considered to be funds obtained by or through a deposit brokerSection 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 generalThe 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 institutionSection 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 generalThe 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)ContentsThe 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)ReportNot 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).903.Tailored regulatory updates for supervisory testingSection 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 $6,000,000,000.904.Credit union board modernizationSection 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 generalThe 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)MeetingsThe 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..905.Systemic risk authority transparency(a)GAO reviewSection 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 generalThe 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 constructionNothing 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 reportSection 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 generalThe 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 privilegeThe 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 generalA 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 materialsIf 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 materialsIf, 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)PrivilegeFor purposes of this subparagraph, the term privilege includes any work-product, attorney-client, or other privilege recognized under Federal or State law.(C)Report extensionA 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 reportsA 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 constructionNothing 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..906.Advancing the mentor-protégé program for small financial institutionsSection 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-protégé program(1)In generalThe Secretary shall establish a program to be known as the Financial Agent Mentor-Protégé 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)OutreachThe 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)ExclusionThe 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)ReportThe 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)DefinitionsIn this subsection:(A)Financial agentThe 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 institutionThe 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 institutionThe 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)SecretaryThe term Secretary means the Secretary of the Treasury.(E)Small financial institutionThe 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..907.American access to banking(a)Streamlining application process and review of capital raising by de novo regulated institutions(1)In generalEach 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)ReportNot 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 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 generalEach 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 dutiesEach 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 caseworkerEach 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-protégé partnerships(1)In generalAt 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 informationNot 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 generalEach 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 generalNot 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 commentWith 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 generalIn this section:(A)Federal banking agencyThe 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 agenciesThe 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 institutionThe 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)StateThe term State means each of the several States, the District of Columbia, and each territory of the United States.(E)State regulatorThe 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 constructionFor 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.908.Promoting new bank formation(a)Pilot phase-in of capital standardsThe 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 generalDuring 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 changesThe 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 actIf 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)StudyThe 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 congressNot 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)StudyThe 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 congressNot 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)DefinitionsIn this section:(1)Appropriate federal banking agencyThe 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 institutionThe 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 companyThe 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 agencyThe 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 institutionThe 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 bankThe 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, 2028.909.Rural depositories revitalization study(a)StudyThe 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)ReportNot 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 unionsThe 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 unionsNot 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)DefinitionsIn this section:(1)Depository institutionThe 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 agenciesThe 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)RuralWith 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.XHome-ownership for Main Street America1001. Homes are for people, not corporations(a)DefinitionsIn this section:(1)Consumer reporting agencyThe 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 purchaseThe 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 generalThe 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 constructionFor 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)PurchaseThe 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 homeThe 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 generalNo large institutional investor may purchase, or enter into a contract to directly or indirectly purchase, any single-family home.(2)ExceptionsThe 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 constructionNothing 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 generalIn 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 constructionFor 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;(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 generalThe 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 generalThe 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)ContentsResponses 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 generalThe 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 informationUpon 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 authorityWhen 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 resourceEach 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 generalThe 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 dataAny 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 informationIn 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 notificationNot 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 penaltiesThe 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 activitiesFor 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 reportNot 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 reportNot 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 congressIt 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 dateThe 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).XICentral bank digital currency1101.Central bank digital currencyThe 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:16A.Central bank digital currency(a)DefinitionsIn this section:(1)Central bank digital currencyThe term central bank digital currency means a digital asset that—(A)is denominated in United States dollars;(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 assetThe term digital asset has the meaning given the term in section 2 of the GENIUS Act (12 U.S.C. 5901).(b)ProhibitionExcept 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)ExceptionSubsection (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)SunsetThis provisions of this section shall cease to be effective on December 31, 2030.(e)Rule of constructionNothing 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..XIIMiscellaneous1201.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.1202.No additional funds authorizedNo additional funds are authorized to be appropriated to carry out the requirements of this Act or any amendment made by this Act.Secretary

119 HR 6644 EH: Housing for the 21st Century Act U.S. House of Representatives text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS2d Session H. R. 6644

IN THE HOUSE OF REPRESENTATIVES AN ACT To increase the supply of housing in America, and for other purposes.

1.Short title; table of contents (a)Short titleThis Act may be cited as the Housing for the 21st Century Act. (b)Table of contentsThe table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Title I—Building Smarter for the 21st Century Sec. 101. Housing Supply Frameworks. Sec. 102. Accelerating home building grant program. Sec. 103. Federal guidelines for point-access block buildings. Sec. 104. Unlocking Housing Supply Through Streamlined and Modernized Reviews. Sec. 105. Federal Housing Agency Application of Environmental Reviews. Sec. 106. Multifamily loan limits. Sec. 107. GAO study on workforce housing. Title II—Modernizing Local Development and Rural Housing Programs Sec. 201. HOME Reform. Sec. 202. Community Development Fund Amendments. Sec. 203. Grants for planning and implementation associated with affordable housing. Sec. 204. Rural housing service program improvements. Sec. 205. Choice in Affordable Housing. Title III—Expanding Manufactured and Affordable Housing Finance Opportunities Sec. 301. Manufactured Housing Innovations. Sec. 302. FHA small-dollar mortgages. Sec. 303. Community investment and prosperity. Title IV—Protecting Borrowers and Assisted Families Sec. 401. Exclusion of certain disability benefits. Sec. 402. Military service question. Sec. 403. HUD–USDA–VA Interagency Coordination. Sec. 404. Family self-sufficiency escrow expansion pilot program. Sec. 405. Reforms to housing counseling and financial literacy programs. Sec. 406. Establishment of eviction helpline. Sec. 407. Temperature Sensor pilot program. Sec. 408. GAO studies. Title V—Enhancing Oversight of Housing Providers Sec. 501. Requirement to testify. Sec. 502. Improving public housing agency accountability. Title VI—Strengthening Community Banks’ Role in Housing Sec. 601. Community Bank Deposit Access. Sec. 602. Keeping Deposits Local. Sec. 603. Supervisory Modifications for Appropriate Risk-based Testing. Sec. 604. Tailored Regulatory Updates for Supervisory Testing. Sec. 605. Credit Union Board Modernization. Sec. 606. Systemic Risk Authority Transparency. Sec. 607. Least cost exception. Sec. 608. Failing Bank Acquisition Fairness. Sec. 609. Advancing the Mentor-Protégé Program for Small Financial Institutions. Sec. 610. American Access to Banking. Sec. 611. Promoting New Bank Formation. Sec. 612. Rural Depositories Revitalization Study. Sec. 613. Discretionary Surplus Fund. IBuilding Smarter for the 21st Century

101.Housing Supply Frameworks (a)DefinitionsIn this section: (1)Affordable housingThe 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 SecretaryThe term Assistant Secretary means the Assistant Secretary for Policy Development and Research of the Department of Housing and Urban Development. (3)Local zoning frameworkThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (5)State zoning frameworkThe 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 generalNot 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 commentDuring 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)ContentsThe 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; (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 generalThe 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)RepealSection 1205 of the Housing and Community Development Act of 1992 (42 U.S.C. 12705d) is repealed. (d)ReportingNot 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 the Congress a report describing— (1)the States that have adopted recommendations from the guidelines and best practices, pursuant to section 4 of this Act; (2)a summary of the localities that have adopted recommendations from the guidelines and best practices, pursuant to section 4 of this Act; (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 constructionNothing 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 (c).

102.Accelerating home building grant program (a)In generalThe Secretary may establish a pilot program to award grants to eligible entities to review designs of covered structures of mixed-income housing and designate such reviewed designs to be included in pattern books for use in the jurisdiction of the eligible entity. (b)RestrictionAmounts awarded under this section may not be used for construction, alteration, or repair work. (c)ConsiderationsIn reviewing applications submitted by eligible entities for a grant under this section, the Secretary shall consider— (1)the need for affordable housing in the eligible entity; (2)the presence of high opportunity areas in 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 areasOf the amounts 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)Report requirementNot later than 3 years after being awarded a grant under this section, an eligible entity shall submit to the Secretary a report that— (1)describes the impacts of the activities carried out using the amounts provided under this section on improving the production and supply of affordable housing; (2)includes a list of any pattern books the eligible entity has established using amounts provided under this section, including a description of the designs such pattern book includes; (3)identifies the number of permits issued by the eligible entity for housing development using designs from such pattern book; and (4)identifies the number of housing units produced in developments of the eligible entity using a design from such pattern book. (f)Availability of informationThe Secretary shall— (1)to the extent possible, encourage eligible entities awarded grants under this section to make any pattern books established by such entity, and designs in such pattern book, publicly available through a website; and (2)collect, identify, and disseminate best practices relating to pattern books and make such information publicly available on a website of the Department of Housing and Urban Development. (g)Repayment of awarded amountsThe Secretary may require an eligible entity to return, to the Secretary, grant amounts awarded under this section if the Secretary determines that the eligible entity has not approved a sufficient number of building permits that use designs included in a pattern book established by the eligible entity, during the 5-year period following receipt of the grant by the eligible entity, unless such period is extended by the Secretary. (h)SunsetThe pilot program established under this section shall terminate on the date that is 7 years after the date of the enactment of this section. (i)DefinitionsIn this section: (1)Affordable housingThe 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 structureThe term covered structure means a low-rise or mid-rise structure with not more than 25 dwelling units that may include— (A)an accessory dwelling unit; (B)infill development; (C)a duplex; (D)a triplex; (E)a fourplex; (F)a cottage court; (G)a courtyard building; (H)a townhouse; (I)a multiplex; and (J)any other structure with not less than 2 dwelling units that the Secretary has determined in advance to be appropriate. (3)Eligible entityThe 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)); and (B)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 areaThe 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 developmentThe term infill development means a residential housing development on small parcels in previously established areas for replacement by new or refurbished housing that utilizes existing utilities and infrastructure. (6)Mixed-income housingThe term mixed-income housing means a housing development that is comprised of housing units that promote differing levels of affordability in the community. (7)Pattern bookThe term pattern book means a set of pre-reviewed, designated designs or construction plans that are assessed and approved as by-right development by localities for compliance with local building and permitting standards to streamline and expedite approval pathways for housing construction. (8)Rural areaThe term rural area means any area other than a city or town that has a population of less than 50,000 inhabitants. (9)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.

103.Federal guidelines for point-access block buildings (a)In generalNot 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)ContentsWhen developing the guidelines under subsection (a), the Secretary 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; (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 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 CouncilThe Secretary 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 generalThe Secretary 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)SunsetThe program established under paragraph (1) shall terminate on the date that is 7 years after the date of the enactment of this subsection. (e)Rule of constructionNothing in this section may be construed to preempt a State or local building code. (f)DefinitionsIn this section: (1)Eligible entityThe 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 buildingThe 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.

104.Unlocking Housing Supply Through Streamlined and Modernized Reviews (a)NEPA streamlining for HUD housing-related activities (1)In generalThe Secretary of Housing and Urban Development shall, in accordance with section 553 of title 5, United States Code, 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, as defined in section 8(o) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)). (ii)Supportive services, including health care, housing services, permanent housing placement, day care, nutritional services, short-term payment 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 homebuyers to purchase 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 homeowner or renter assistance for HVAC, hot water heaters, and other necessary uses of 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 sections 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 on up to 4 scattered site existing dwelling units where there is a maximum of 4 units on any 1 site. (IV)Acquisitions (including leasing) or 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 sections 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— (aa)a maximum number of units to be determined by the Secretary; and (bb)a limitation on the change in building size to not more than 20-percent. (III)New construction, development, demolition, acquisition, or disposition on 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 on 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)Buyouts, defined as the voluntary acquisition of properties located in— (aa)a floodway; (bb)a floodplain; or (cc)an other area, clearly delineated by the grantee, that has been impacted by a predictable environmental threat to the safety and wellbeing of program beneficiaries caused or exacerbated by a federally declared disaster. (2)ReportThe 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 annual reports during the 5-year period beginning on the date that is 2 years after the date of enactment of this Act that provide 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 subsection, 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. (b)Better Use of Intergovernmental and Local Development for Housing (1)Designation of environmental review procedureThe 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:

13.Designation of environmental review procedure (a)In generalExcept 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). (b)ExceptionThe 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.. (2)Tribal assumption of environmental review obligationsSection 305(c) of the Multifamily Housing Property Disposition Reform Act of 1994 (42 U.S.C. 3547) is amended— (A)by striking State or unit of general local government each place it appears and inserting State, Indian Tribe, or unit of general local government; (B)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 (C)by adding at the end the following: (5)Definition of Indian TribeFor 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)ApplicabilityAny activity generated under subsections (a) or (b) would be subject to an authorization of appropriations. (d)Infill project definedIn this section, the term infill project means a project that— (1)occurs within the geographic limits of a municipality; (2)is adequately served by existing utilities and public services as required under applicable law; (3)is located on a site of previously disturbed land of not more than 5 acres and substantially surrounded by residential or commercial development; (4)will repurpose a vacant or underutilized parcel of land, or a dilapidated or abandoned structure; and (5)will serve a residential or commercial purpose.

105.Federal Housing Agency Application of Environmental Reviews (a)Memorandum of understanding (1)In generalNot 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— (A)evaluate the use of categorical exclusions (as defined in section 111 of the National Environmental Policy Act of 1969 (42 U.S.C. 4336e)) for housing projects funded by amounts from the Department of the Housing and Urban Development and the Department of Agriculture; (B)develop a process to designate a lead agency among the Department of Housing and Urban Development and the Department of Agriculture to streamline the adoption of environmental impact statements and environmental assessments approved by the other agency to construct housing projects funded by amounts from both agencies; (C)maintain compliance with environmental regulations under part 58 of title 24, Code of Federal Regulations, as in effect on January 1, 2025; and (D)evaluate the feasibility of a joint physical inspection process for housing projects funded by amounts from the Department of the Housing and Urban Development and the Department of Agriculture. (2)ReportNot 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— (A)to improve the efficiency and effectiveness of housing projects funded by amounts from the Department of the Housing and Urban Development and the Department of Agriculture; and (B)that do not materially, with respect to residents of housing projects described in subparagraph (A)— (i)reduce the safety of those residents; (ii)shift long-term costs onto those residents; or (iii)undermine the environmental standards of those residents. (b)Study and Review (1)ExemptionIn 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. (2)ReportNot 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— (A)determines whether the implementation of this section— (i)reduced the amount of time it takes to review an application for assistance under the sections of the Housing Act of 1949 identified in paragraph (1); and (ii)reduced the administrative cost of providing such assistance; (B)describes how the implementation of this section affects the affordable housing sector in rural America; and (C)includes any legislative recommendations from the Secretary of Agriculture. (2)DefinitionsIn this section: (A)GreenfieldThe term greenfield means a site that has not been developed, including a woodland, farmland, and an open field. (B)Infill siteThe term infill site— (i)means a site that is served by existing infrastructure, including water lines, sewer lines, and roads; and (ii)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.

106.Multifamily loan limits (a)In generalTitle 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 January 1, 2026. 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 calculated 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 striking subsection (b) and inserting the following: (b)RoundingThe dollar amount of any adjustment described in subsection (a) shall be rounded to the next lower dollar. (c)PublicationThe Secretary shall publish in the Federal Register any adjustments made to the Dollar Amounts.; (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 constructionNothing 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.

107.GAO study on workforce housing (a)In generalNot later than 1 year after the date of the enactment of this section, the Comptroller General of the United States shall conduct a study and submit to the Congress a report that— (1)identifies obstacles middle-income households face when looking to secure affordable housing; (2)identifies geographic areas where housing is the most unaffordable and unavailable for middle-income households; (3)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; (4)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 such middle-income households in Federal housing programs if funding commensurate with the additional eligibility were to be made available; and (5)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)Middle-income household definedIn this section, 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 with adjustments for smaller and larger families. IIModernizing Local Development and Rural Housing Programs

201.HOME Reform (a)In generalSection 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704) is amended— (1)in paragraph (6)(B), by striking significant; and (2)by adding at end the following new paragraph: (26)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.. (b)Assistance for low-Income familiesTitle II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.) is amended— (1)in section 214(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; (2)in section 215— (A)in subsection (b)(2), 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; and (B)in subsection (b)(3)(A)(ii), by striking low-income homebuyers and inserting homebuyers 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 (3)in section 271(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. (c)Choices made by participating jurisdictionsSection 212(a)(2) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12742) is amended to read as follows: (2)LimitationThe Secretary may not restrict a participating jurisdiction’s choice of rehabilitation, substantial rehabilitation, new construction, reconstruction, acquisition, or other eligible housing uses authorized in paragraph (1) unless such restriction is explicitly authorized under section 223(2).. (d)Use of amounts by certain jurisdictions for infrastructure improvements (1)In generalSection 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 generalA 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; 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 standardsThe 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 constructionNothing 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)RulemakingNot later than 1 year after the date of the enactment of this section, the Secretary shall issue rules to carry out the amendment made by paragraph (1). (e)Per unit investment limitationsSection 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. (f)Affordable rental housing qualificationsSection 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 ExceptionNotwithstanding 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 tenant’s contribution toward rent does not exceed the amount permitted under such section 8 assistance; and (C)the total rent for the unit does not exceed the amount approved by the public housing agency administering the assistance under that program.. (g)Affordable homeownership housing qualificationsSection 215 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12745(b)) is amended— (1)in subsection (b)— (A)in paragraph (1), by striking 95 percent and inserting 110 percent; (B)in paragraph (3)— (i)in subparagraph (A)(ii), by striking or at the end; (ii)in subparagraph (B), by striking and at the end and inserting or; and (iii)by adding at the end the following new subparagraph: (C)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 homebuyers 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; and; and (2)by adding at the end the following: (c)Qualification exceptions for homeownership (1)Military membersA participating jurisdiction, in accordance with terms established by the Secretary, may suspend or waive the income qualifications described in subsection (b)(2) with respect to housing that otherwise meets the criteria described in subsection (b) 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(d) 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 ownersHousing that meets the criteria described in subsection (b)(3) 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. . (h)Elimination of expiration of right to draw home investment trust fundsSection 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). (i)Adjusted recapture and reuse of set-aside for community housing developmental organizationsSection 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 reuseIf 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 title II of this Act without regard to whether a community housing development organization materially participates in the use of such funds.. (j)Asset recycling information dissemination expansionSection 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. (k)Environmental review requirements (1)In generalSection 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 exemptionsThe 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); and (4)new construction projects of 15 units or less. (f)Removing duplicative reviews (1)In generalTo 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 responsibilitiesThe Secretary shall, by regulation, provide for coordination of environmental review responsibilities with other Federal agencies to streamline inter-agency 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 entitiesA 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)RulemakingNot 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)ApplicabilityAny activity generated under this subsection would be subject to an authorization of appropriations. (l)Application of Build America, Buy America requirements for HOME Investment Partnerships Program (1)In generalNot later than 180 days after the date of the enactment of this section, the Secretary of Housing and Urban Development 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 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 guidanceNot 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)ReportNot later than 270 days after the date of the enactment of this section, 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). (m)Application of other specified statutory requirementsTitle 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 new section (and by conforming the table of sections in section 1(b), accordingly):

291.Nonapplicability of certain requirements for small projectsNotwithstanding 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 50 or fewer. . (n)Technical amendmentsThe 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 it appears and inserting McKinney-Vento Homeless Assistance Act; and (2)by striking Committee on Banking, Finance and Urban Affairs each place it appears and inserting Committee on Financial Services. (o)Reallocation not available for certain jurisdictionsSection 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 jurisdictionsThe 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 housingSection 215(a) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12745(a)) is amended— (1)in paragraph (1)(E), 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; and (2)by adding at the end the following: (8)Small-scale housing (A)In generalSmall-scale housing shall qualify as affordable housing under this title if— (i)each dwelling unit in such housing bears rent in an amount that complies with the requirements described in paragraph (1)(A); (ii)each dwelling unit in such housing is occupied by a low-income family; (iii)no dwelling unit in such 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 such voucher; (iv)such housing complies with the requirement described in paragraph (1)(E); and (v)the participating jurisdiction in which such small-scale housing is located monitors the compliance of such housing with the requirements of this title in a manner consistent with the purposes of section 226(b), as determined by the Secretary. (B)Small-scale housing definedIn this paragraph, the term small-scale housing means housing with not more than 4 dwelling units each of which is made available for rental. . (q)Tenant and participant protections for small-scale affordable housingSection 225 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12755) is amended by adding at the end the following: (e)ExceptionParagraphs (2), (3), and (4) shall not apply to small-scale housing, as such term is defined in section 215(a)(7).. (r)Revision of definition of community land trustSection 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704) is amended by adding at the end the following: (27)The term community land trust means a nonprofit entity, a State, a unit of local government or 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 homeownership; 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)Conforming amendmentsThe Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12701 et seq.) is amended— (1)in section 233 by striking subsection (f); and (2)in section 233(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). (t)Minimum allocationsSection 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; (B)by striking that are allocated an amount less than $500,000 and inserting that are allocated an amount less than $750,000; and (C)by striking , except as provided in paragraph (4); and (3)by striking paragraph (4). (u)Additional technical correctionsThe Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12701 et seq.) is amended— (1)in section 108(a)(1), by striking section 105(b)(15) and inserting section 105(b)(18); and (2)in section 217(b)(1)(F), by striking Subcommittee on Housing and Community Development and inserting Subcommittee on Housing, Transportation, and Community Development.

202.Community Development Fund Amendments (a)Identifying Regulatory Barriers to Housing SupplySection 104 of the Housing and Community Development Act of 1974 (42 U.S.C. 5304) is amended by adding at the end the following: (n)Plan to track and reduce overly burdensome land use policies (1)In generalBeginning 1 year after the date of the enactment of this subsection, prior to receipt in any fiscal year of a grant from the Secretary under subsection (b), (d)(1), or (d)(2)(B) of section 106, each recipient shall have prepared and submitted, not less frequently than once during the preceding 5-year period, a description of— (A)whether the jurisdiction served by the recipient has adopted any of the types of land use policies described in paragraph (2) during the preceding 5-year period; (B)the plans the jurisdiction served by the recipient has to adopt and implement any of the types of land use policies described in paragraph (2); and (C)any ways in which the jurisdiction served by the recipient expects the planned adoption of any of the types of land use policies described in paragraph (2) would benefit the jurisdiction. (2)Types of land use policiesThe types of policies to be considered for the purposes of the submission of information required under paragraph (1) include the following: (A)Expanding by-right multifamily zoned areas. (B)Allowing duplexes, triplexes, or fourplexes in areas zoned primarily for single-family residential homes. (C)Allowing manufactured homes in areas zoned primarily for single-family residential homes. (D)Allowing multifamily development in retail, office, and light manufacturing zones. (E)Allowing single-room occupancy development wherever multifamily housing is allowed. (F)Reducing minimum lot size. (G)Ensuring historic preservation requirements and other land use policies or requirements are coordinated to encourage creation of housing in historic buildings and historic districts. (H)Increasing the allowable floor area ratio by allowing a higher ratio of total floor area in a building in comparison to its lot size. (I)Creating transit-oriented development zones. (J)Streamlining or shortening permitting processes and timelines, including through one-stop and parallel-process permitting. (K)Eliminating or reducing off-street parking requirements. (L)Ensuring impact and utility investment fees accurately reflect required infrastructure needs and related impacts on housing affordability are otherwise mitigated. (M)Allowing off-site construction, including prefabricated construction. (N)Reducing or eliminating minimum unit square footage requirements. (O)Allowing the conversion of office units to apartments. (P)Allowing the subdivision of single-family homes into duplexes. (Q)Allowing accessory dwelling units, including detached accessory dwelling units, on all lots with single-family homes. (R)Establishing density bonuses. (S)Eliminating or relaxing residential property height limitations. (T)Using property tax abatements to enable higher density and mixed-income communities. (U)Donating vacant land for affordable housing development. (V)Enacting other relevant high-density, single-family, and multifamily zoning policies that the recipient chooses to report. (3)Effect of submissionA submission under this subsection shall not be binding with respect to the use or distribution of amounts received under section 106. (4)Acceptance or nonacceptance of planThe acceptance or nonacceptance of any plan submitted under this subsection in which the information required under this subsection is provided may not be considered an endorsement or approval of the plan, policies, or methodologies, or lack thereof. (5)Prohibition on use of information for enforcementInformation provided by a recipient to the Secretary under this subsection may not be used as the basis for any enforcement action.. (b)Addition of affordable housing construction as an eligible activity (1)Eligible activitySection 105(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(a)) is amended— (A)in paragraph (25)(D), by striking and at the end; (B)in paragraph (26), by striking the period at the end and inserting ; and; and (C)by adding at the end the following new paragraph: (27)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.. (2)Low- and moderate-income requirementSection 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. (3)ApplicabilityThe amendments made by this subsection shall apply with respect only to amounts appropriated after the date of the enactment of this Act. (c)Databases of publicly owned land (1)In generalSection 104(b) of the Housing and Community Development Act of 1974 (42 U.S.C. 5304(b)) is amended— (A)in paragraph (5), by striking and at the end; (B)in paragraph (6), by striking the period at the end and inserting ; and; and (C)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.. (2)Effective dateThe amendments made by this subsection shall take effect on October 1, 2026.

203.Grants for planning and implementation associated with affordable housing (a)In generalThe Secretary of Housing and Urban Development shall, not later than 1 year after the date of the enactment of this section, establish a pilot program to award grants on a competitive basis to eligible entities to assist planning and implementation activities associated with affordable housing. (b)Use of amounts (1)By regional planning agenciesIf an eligible entity that receives amounts under this section is a regional planning agency or consortia of regional planning agencies, such eligible entity shall use such 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 countiesIf an eligible entity that receives amounts under this section is a State, insular area, metropolitan city, or urban county, such eligible entity shall use such 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 costsA eligible entity that receives amounts under this section may not use more than 10-percent of such amounts for administrative costs. (c)CoordinationTo the extent practicable, the Secretary shall coordinate with the Federal Transit Administrator in carrying out this section. (d)Additional uses of amounts (1)Housing constructionExpenditures on new construction of housing shall be an eligible expense under this section. (2)Buildings for general conduct of governmentExpenditures on building for the general conduct of government, other than the Federal Government, shall be eligible under this section when necessary and appropriate as a part of a natural hazard mitigation project. (e)Expiration of authorityAfter the expiration of the 5-year period beginning on the date of the enactment of this section, the Secretary may not newly establish a pilot program as described in this section. (f)SunsetThe pilot program established under this section shall terminate on the date that is 5 years after the date of the enactment of this section. (g)DefinitionsIn this subsection: (1)Eligible entityThe term eligible entity means— (A)a State, insular area, metropolitan city, or urban county, as such terms are defined in section 102 of the Housing and Community Development Act of 1974; or (B)a regional planning agency or consortia of regional planning agencies. (2)Housing planThe 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 strategyThe term housing strategy means a housing strategy required under section 105 of the Cranston-Gonzalez National Affordable Housing Act.

204.Rural housing service program improvements (a)In generalSection 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. (b)Annual report on rural housing programsTitle 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:

545.Annual report (a)In generalThe 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 and publish on a website of the Department of Agriculture an annual report on the rural housing programs carried out under this title. (b)ContentsThe report required under subsection (a) shall include significant details on the information about the health of the programs carried out by the Rural Housing Service, including— (1)raw data about loan performance that can be sorted by program and region; (2)a description of the housing stock of such programs; (3)information about why properties end participation in such programs, including maturation prepayment, foreclosure, or other servicing issues; and (4)risk ratings for properties assisted under such programs. (c)Protection of informationData included in a report required under subsection (a) may be aggregated or anonymized to protect the financial information and personal information of program participants.. (c)Application review (1)Sense of CongressIt is the sense of the 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 generalNot 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 that— (i)details the timeliness of eligibility determinations and final determinations with respect to applications under section 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)includes recommendations to shorten the timeline for notifications of eligibility determinations described in subparagraph (A) to not more than 90 days. (B)Date describedThe date described in this paragraph 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. (d)GAO report on Rural Housing Service technologyNot later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to the 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; (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.

205.Choice in Affordable Housing (a)Preapproval of unitsSection 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)DefinitionIn 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 inspectionUpon 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 family assisted under this subsection. (III)EffectAn inspection conducted under subclause (II) that determines that the dwelling unit meets the housing quality standards under subparagraph (B) shall satisfy the requirements in this subparagraph and subparagraph (C) if the new landlord enters into a lease agreement with a family assisted under this subsection not later than 60 days after the date of the inspection. (IV)Information when family is selectedWhen 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).. (b)Satisfaction of inspection requirements through participation in other housing programsSection 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 buildingsA 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 financed by a person who received a low-income housing tax credit under section 42 of the Internal Revenue Code of 1986 in exchange for that financing; (II)the dwelling unit was physically inspected and passed inspection as part of the low-income housing tax credit 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). (ii)Home investment partnerships programA 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; (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 ServiceA 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 inspectionsWhen complying with inspection requirements for a housing unit located in a rural or small area using assistance under this subtitle, the Secretary may allow a grantee to conduct a remote or video inspection of a unit provided that the remote or video inspection— (I)covers a substantially similar review of the relevant aspects of the unit compared to an in-person inspection; (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 applicable standards. (v)Rule of constructionNothing in clause (i), (ii), (iii), or (iv) may be construed to affect the operation of a housing program described in, or authorized under a provision of law described in, that clause.. IIIExpanding Manufactured and Affordable Housing Finance Opportunities

301.Manufactured Housing Innovations (a)In generalSection 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 chassisSection 604(a) 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: (7)Standards for manufactured homes built without a permanent chassis (A)In generalThe Secretary shall issue revised standards for manufactured homes built without a permanent chassis and shall consult with the consensus committee in the development of such revised standards, using the process described in paragraph (4). (B)Creating final standardsThe Secretary shall, after consulting and conferring with the consensus committee, establish standards to ensure manufactured homes without a permanent chassis have— (i)a distinct label to be issued by the Secretary distinguishing manufactured homes 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, 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 standards and certificationsSection 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 standards and certifications (1)In general (A)Initial certificationSubject to subparagraph (B), not later than 1 year after the date of enactment of this subsection, a State shall submit to the Secretary an initial certification that the laws and regulations of the State— (i)treat a manufactured home without a chassis in parity with a manufactured home (as defined and regulated by the State); and (ii)subject a manufactured home without a permanent chassis to the same laws and regulations of the State as a manufactured home built on a permanent chassis with respect to financing, title, insurance, manufacture, sale, taxes, transportation, 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 submissionAny State plan submitted under section 623(c) of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5422(c)) shall contain the required State certification under subparagraph (A) or paragraph (3) and, if contained therein, no additional or State certification under subparagraph (A) or paragraph (3). (C)Extended deadlineWith 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 this subsection. (D)Late certification (i) No waiverThe 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 constructionNothing 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 planThe 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 recertificationNot 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)ListThe 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)DefinitionIn 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 this subsection. (B)Building, installation, and saleIf a State does not submit a certification under paragraph (1)(A) or paragraph (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 homesThe Secretary of Housing and Urban Development may coordinate with the heads of other Federal agencies to ensure that Federal agencies treat a manufactured home (that is 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 (that is 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. (e)Assistance to StatesSection 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)PreemptionNothing 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)). (g)Primary authority to establish manufactured home construction and safety standardsThe National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5401 et seq.) is further amended— (1)in section 603(7), by inserting energy efficiency, after design,; and (2)in section 604, by adding at the end the following: (j)Primary authority to establish standards (1)In generalThe Secretary shall have the primary authority to establish Federal manufactured home construction and safety standards. (2)Approval from Secretary (A)In generalThe head of any Federal agency that seeks to establish a manufactured home construction and safety standard on or after the date of the enactment of this subsection— (i)shall submit to the Secretary a proposal describing such standard; and (ii)may not establish such standard without approval from the Secretary. (B)Rejection of standardsThe Secretary shall reject a standard submitted to the Secretary for approval under subparagraph (A)— (i)if the standard would significantly increase the cost of producing manufactured homes, as determined by the Secretary; (ii)if the standard would conflict with existing manufactured home construction and safety standards established by the Secretary; or (iii)for any other reason as determined appropriate by the Secretary. (C)Rule of constructionNothing in this subsection may be construed to require the Secretary to establish new or revised Federal manufactured home construction and safety standards. .

302.FHA small-dollar mortgages (a)In generalNot 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)ReportBeginning 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 the 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 the 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)SunsetThe 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 authorityAfter 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 definedThe 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.

303.Community investment and prosperity (a)Revised statutesThe 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 it appears and inserting 20. (b)Federal Reserve ActSection 9(23) of the Federal Reserve Act (12 U.S.C. 338a) is amended, in the fifth sentence, by striking 15 each place it appears and inserting 20. (c)StudyNot later than 2 years after the date of the 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 and State member banks under section 9(23) of the Federal Reserve Act 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 less 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 less 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; or (B)in the case of a report by the Board of Governors, section 9(23) of the Federal Reserve Act. IVProtecting Borrowers and Assisted Families

401.Exclusion of certain disability benefits (a)In generalSection 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)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 may not apply to the definition of adjusted income; (v)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, except that this exclusion may not apply to the definition of adjusted income; . (b)Treatment of certain disability benefitsWhen determining the eligibility of a veteran to rent a residential dwelling unit constructed on Department property on or after the date of the enactment of this Act, for which assistance is provided as part of a housing assistance program administered by the Secretary of Housing and Urban Development and not yet in existence at the time of the enactment of this section, 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. (c)Department property definedIn this section, the term Department property has the meaning given the term in section 901 of title 38, United States Code.

402.Military service question (a)In generalSubpart 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: 1329.Uniform residential loan applicationNot 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 studyNot 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 the 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).

403.HUD–USDA–VA Interagency Coordination (a)Memorandum of understandingNot 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 establish a memorandum of understanding, or other appropriate interagency agreement, to share relevant housing-related research and market data that facilitates evidence-based policymaking. (b)Interagency report (1)ReportNot later than 1 year 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, the Committee on Agriculture, Nutrition, and Forestry, and the Committee on Veterans’ Affairs of the Senate and the Committee on Financial Services, the Committee on Agriculture, and the Committee on Veterans’ Affairs of the House of Representatives a report that describes opportunities for increased collaboration between the Secretary of Housing and Urban Development, the Secretary of Agriculture, and the Secretary of Veterans Affairs to improve efficiencies in housing programs. (2)PublicationThe report required under paragraph (1) shall, prior to submission, be published in the Federal Register and open for comment for a period of 30 days.

404.Family self-sufficiency escrow expansion pilot programTitle I of the United States Housing Act of 1937 (42 U.S.C. 1437 et seq.) is amended by adding at the end the following:

39.Escrow expansion pilot program (a)DefinitionsIn this section: (1)Covered familyThe term covered family means a family that— (A)receives assistance under section 8 or 9 of this Act; (B)is enrolled in the pilot program; and (C)has an adjusted income that does not exceed 80-percent of the area-median income at the time of enrollment in the pilot program. (2)Eligible entityThe term eligible entity means an entity described in subsection (c)(2) of section 23. (3)Pilot programThe term pilot program means the pilot program established under this section. (4)Welfare assistanceThe term welfare assistance has the meaning given the term in section 984.103 of title 24, Code of Federal Regulations, or any successor regulation. (b)Program establishmentThe Secretary shall, not later than 1 year after the date of the enactment of this section, 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 a total of 5,000 covered families, in accordance with this section. (c)Escrow accounts (1)In generalAn eligible entity selected to participate in the pilot program— (A)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 family during the participation of such covered family in the pilot program; and (B)notwithstanding any other provision of law, may use existing funds made available to such entity at any time under section 8 or 9 for the purposes of making the escrow deposit for a covered family assisted under, or residing in a unit assisted under, section 8 or 9 provided that such amounts are offset by the increase in the amount of rent paid by the covered family. (2)WithdrawalsA covered family may withdraw funds, including any interest earned, from an escrow account established by an eligible entity under the pilot program for such covered family— (A)after the covered family ceases to receive welfare assistance; and (B) (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; or (v)under other circumstances for good cause as determined by the Secretary. (3)Interim recertificationFor the purposes of the pilot program established under this section, a covered family shall recertify the income of such family not less than once each year. (4)Contract or planAn eligible entity may not require a covered family to— (A)complete a contract that requires the participation of the covered family in the pilot program established under this section; or (B)participate in any individual training or services plan as a condition for participating in the pilot program. (d)Effect of increases in family incomeThe amount equal to any increase in the earned income of a covered family from the date of enrollment of the covered family in the pilot program established under this section through the date all funds are withdrawn from the escrow account established for such family under this section may not be considered as income or a resource for purposes of eligibility of the covered family for other benefits, or amount of benefits payable to the family, under any program administered by the Secretary. (e)Application (1)In generalAn eligible entity seeking to participate in the pilot program shall submit to the Secretary an application— (A)at such time, in such manner, and containing such information as the Secretary may require by notice; and (B)that includes the number of covered families to which the eligible entity intends to provide escrow accounts under this section. (2)Geographic and entity varietyThe Secretary shall ensure that eligible entities selected to participate in the pilot program— (A)are located across various States and in both urban and rural areas; and (B)vary by size and type, including both public housing agencies and private owners of projects receiving project-based rental assistance under section 8. (f)Notification and opt-outAn eligible entity participating in the pilot program shall— (1)notify each covered family of their enrollment in the pilot program; (2)provide each covered family with a detailed description of the pilot program, including how the pilot program will impact their rent and finances; (3)inform each covered family that the family may not simultaneously participate in the pilot program and the Family Self-Sufficiency program under this section; and (4)provide each covered family with the ability to elect not to participate in the pilot program— (A)not less than 2 weeks before the date on which the escrow account is established under subsection (c); and (B)at any point during the duration of the pilot program. (g)Maximum rentsDuring 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 section 3 or 8(o), as applicable. (h)Pilot program timeline (1)AwardsNot later than 18 months after the date of enactment of this section, the Secretary shall select the eligible entities to participate in the pilot program. (2)Establishment and terms of accountsAn eligible entity selected to participate in the pilot program shall— (A)not later than 6 months after selection, establish escrow accounts under subsection (c) for covered families; and (B)maintain those escrow accounts for not less than 5 years, 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. (i)Nonparticipation and housing assistance (1)In generalA family that elects not to participate in the pilot program may not be delayed or denied assistance under section 8 or 9 for reason of such election. (2)No terminationHousing assistance may not be terminated as a consequence of participating, or not participating, in the pilot program under this section for any period of time. (j)StudyNot later than 8 years after the date the Secretary selects eligible entities to participate in the pilot program under this section, the Secretary shall 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 that participated in 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 services, or the lack thereof, had on individual incomes. (k)WaiversThe Secretary may, upon the written request of an eligible entity receiving amounts under this section, waive requirements under this section that relate to the administration of the pilot program for the eligible entity that submitted the request if such waiver would allow such eligible entity to effectively administer the pilot program and make the required escrow account deposits under this section. (l)TerminationThe pilot program established under this section shall terminate on the date that is 7 years after the date of enactment of this section..

405.Reforms to housing counseling and financial literacy programs (a)In generalSection 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)Performance reviewThe 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 or entity’s compliance with all program requirements; and (ii)may take into account the organization’s or entity’s aggregate counselor performance under paragraph (7)(B). (7)Considerations (A)Covered mortgage loan definedIn this paragraph, the term covered mortgage loan means any loan which is secured by a first or subordinate lien on residential real property (including individual units of condominiums and cooperatives) designed principally for the occupancy of 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)ComparisonFor each counselor employed by an organization receiving assistance under this section for pre-purchase 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)CertificationIf, 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 generalThe 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 existing regulations issued by the Secretary. (B)NoticeThe 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 conferenceIf 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 definedIn 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 borrowersA 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)CostIf 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))..

406.Establishment of eviction helpline (a)In generalThe Secretary of Housing and Urban Development shall, not later than 1 year after the date of the enactment of this Act, establish a program— (1)to establish a hotline to provide tenants of covered federally assisted rental dwelling units with counseling, resources, and referrals to available assistance relating to eviction-related matters; and (2)to provide information about such hotline to tenants of covered federally assisted rental dwelling units by publishing information about such hotline in common areas of each federally assisted rental dwellings and through other means determined appropriate by the Secretary. (b)SunsetThe program established under this section shall terminate on the date that is 7 years after the date of the enactment of this section. (c)DefinitionsIn this section: (1)AssistanceThe term assistance means any grant, loan, subsidy, contract, cooperative agreement, or other form of financial assistance, but such term does not include the insurance or guarantee of a loan, mortgage, or pool of loans or mortgages. (2)Covered federally assisted rental dwelling unitThe term covered federally assisted rental dwelling unit means a residential dwelling unit— (A)that is made available for rental; and (B) (i)for which assistance is provided, or that is part of a housing project for which assistance is provided, under any program administered by the Secretary of Housing and Urban Development, including— (I)the public housing program under the United States Housing Act of 1937 (42 U.S.C. 1437 et seq.); (II)the program for rental assistance under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f); (III)the HOME Investment Partnerships program under title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.); (IV)title IV of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11360 et seq.); (V)the Housing Trust Fund program under section 1338 of the Housing and Community Development Act of 1992 (12 U.S.C. 4568); (VI)the program for supportive housing for the elderly under section 202 of the Housing Act of 1959 (12 U.S.C. 1701q); (VII)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); (VIII)the AIDS Housing Opportunities program under subtitle D of title VIII of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12901 et seq.); (IX)the program for Native American housing under the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4101 et seq.); and (X)the program for housing assistance for Native Hawaiians under title VIII of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4221 et seq.); or (ii)that is a property, or is on or in a property, that has a federally backed mortgage loan or federally backed multifamily mortgage loan, as such terms are defined in section 4024(a) of the CARES Act (15 U.S.C. 9058(a)).

407.Temperature Sensor pilot program (a)In generalThe 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 generalThe Secretary shall, not later than 180 days after the date of the 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)CriteriaIn 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)InstallationEach 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 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 generalEach 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 violations. (2)DefinitionsThe Secretary shall, not later than 180 days after the date of the enactment of this Act, define the terms temperature-related complaints and temperature-related violations for the purposes of this section. (e)Data collection (1)In generalData 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 notifies the public housing agency or owner that the pilot program and the evaluation of the pilot program are complete. (2)Personally identifiable informationThe Secretary shall, not later than 180 days after the date of the 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 evaluationNot later than 12 months after the establishment of the pilot program under this section, the Secretary shall publicly publish and submit to the Congress a report that— (A)examines the number of temperature-related complaints and 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 evaluationNot later than 36 months after the conclusion of the pilot program established by the Secretary under this section, the Secretary shall publicly publish and submit to the Congress a report that— (A)examines the number of temperature-related complaints and 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)SunsetThe pilot program established under this section shall terminate on the date that is 3 years after the date of the enactment of this section. (h)DefinitionsFor the purposes of this section: (1)Approved temperature sensorThe 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. (2)AssistanceThe term assistance means any grant, loan, subsidy, contract, cooperative agreement, or other form of financial assistance, but such term does not include the insurance or guarantee of a loan, mortgage, or pool of loans or mortgages. (3)Covered federally assisted rental dwelling unitThe 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)OwnerThe 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. 1437 et seq.), a public housing agency or an owner entity of public housing units as defined in section 905.108 of title 24, Code of Federal Regulations; (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 section 202(k)(4) of the Housing Act of 1959; 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 section 811(k)(5) of the Cranston-Gonzalez National Affordable Housing Act.

408.GAO studies (a)Report to CongressNot later than 1 year after the date of the enactment of this Act, the Comptroller General of the United States shall carry out a study and submit to the 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). (b)GAO study to determine proximity of housing to Superfund sitesNot later than 1 year after the date of the enactment of this section, the Comptroller General of the United States shall carry out a study and submit to the Congress a report that identifies how many residential dwelling units, and how many dwelling units that are a part of public housing (as such term is 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). (c)Report to congressNot later than 1 year after the date of the enactment of this Act, the Comptroller General of the United States shall carry out a study and 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)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, nonprofits, and institutes 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 such States and jurisdictions to establish and document property ownership rights or settle a decedent’s estate; (C)by awarding grants to entities which provide housing counseling, legal assistance, and financial assistance to homeowners and their heirs relating to title clearing and home retention efforts of heirs’ property and which 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. VEnhancing Oversight of Housing Providers

501.Requirement to testifySection 7 of the Department of Housing and Urban Development Act (42 U.S.C. 3535) is amended by adding at the end the following new subsection: (u)Annual testimonyThe Secretary shall appear before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate 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..

502.Improving public housing agency accountability (a)In generalThe 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 such 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. (b)Federal monitor and receiver transparency (1)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)In addition to the written assessment required in paragraph (1), upon written request by the Committee on Financial Services of the House of Representatives or the Committee on Banking, Housing, and Urban Affairs of the Senate, 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 Financial Services of the House of Representatives or the Committee on Banking, Housing, and Urban Affairs of the Senate with respect to the covered public housing agency which such receiver or Federal monitor is appointed to oversee, including presenting testimony upon request. (c)Disclosure requiredThe Secretary shall, not later than 1 year after the date of the enactment of this section, 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. (5)The name of the official who solicited the contract. (d)Inspector general reviewNot 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. (e)Definitions (1)Covered public housing agencyThe term covered public housing agency means a public housing agency (as such term is 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 generalThe term inspector general means the inspector general of the Department of Housing and Urban Development. (3)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. VIStrengthening Community Banks’ Role in Housing

601.Community Bank Deposit Access (a)In generalSection 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 generalCustodial 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)DefinitionsIn this subsection: (A)Custodial depositThe 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 institutionThe 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)PlanThe 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 administratorThe 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 capitalizedThe term well capitalized has the meaning given the term in section 38(b).. (b)Interest rate restrictionSection 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)DefinitionsIn 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)ProhibitionA 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 ratesThe 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..

602.Keeping Deposits Local (a)Amount of reciprocal deposits that are not considered to be funds obtained by or through a deposit brokerSection 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 generalThe 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 $250,000,000,000.. (b)Definition of Agent InstitutionSection 29(i)(2)(A)(i) of the Federal Deposit Insurance Act (12 U.S.C. 1831f(i)(2)(A)(i)) is amended by striking subclause (I) and inserting the following: (I)when most recently examined under section 10(d) 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); and. (c)Reciprocal deposits study (1)In generalThe 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)ContentsThe 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 non-profit 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)ReportNot 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).

603.Supervisory Modifications for Appropriate Risk-based Testing (a)Examination relief for certain well managed and well capitalized financial institutions (1)Insured depository institutionsSection 10(d) of the Federal Deposit Insurance Act (12 U.S.C. 1820(d)) is amended by adding at the end the following: (11)Examination relief for certain well managed and well capitalized insured depository institutions (A)In generalThe following shall apply to a well managed and well capitalized insured depository institution with $6,000,000,000 or less in consolidated assets: (i)Alternating limited-scope examinationsAfter an insured depository institution receives a full-scope, on-site examination from the appropriate Federal banking agency, the next examination of the insured depository institution by the appropriate Federal banking agency shall be a limited-scope examination, as determined by the appropriate Federal banking agency. (ii)Combined examinationsIf an insured depository institution is otherwise subject to separate safety and soundness examinations, consumer compliance examinations, and information technology and cybersecurity examinations, the appropriate Federal banking agency shall, upon request of the insured depository institution, combine two or three such examinations, as specified by the insured depository institution, and carry them out at the same time. (B)ExceptionSubparagraph (A) shall not apply to an insured depository institution if— (i)the insured depository institution is currently subject to a formal enforcement proceeding or order by the Corporation or the appropriate Federal banking agency; or (ii)a person acquired control of the insured depository institution since the most recent full-scope, on-site examination of the insured depository institution from the appropriate Federal banking agency. (C)RulemakingNot later than 12 months after the date of enactment of this paragraph, the Federal banking agencies shall issue rules to carry out subparagraph (A), including, with respect to an insured depository institution described under subparagraph (A), to— (i)establish procedures for the limited-scope examinations described in subparagraph (A)(i); (ii)establish procedures for reviewing insured depository institutions that— (I)experience material changes in financial condition or operational risk profile between scheduled examinations; or (II)have failed to comply with Federal or State banking laws and regulations; and (iii)balance the goals of streamlining the examination cycle for individual insured depository institutions and reducing unnecessary regulatory burdens while maintaining sufficient oversight to ensure the continued safety and soundness of the insured depository institutions and compliance with all applicable laws and regulations. (D)Rule of constructionNothing in this paragraph may be construed to limit the authority of a Federal banking agency to conduct off-site monitoring, targeted reviews, or additional full-scope, on-site examinations of an insured depository institution if the Federal banking agency determines such monitoring, reviews, or examinations are necessary to ensure safety and soundness or compliance with applicable laws. (E)DefinitionsIn this paragraph: (i)Consumer compliance examinationThe term consumer compliance examination means an examination to assess compliance with the requirements of Federal consumer financial law (as such term is defined in section 1002 of the Consumer Financial Protection Act of 2010). (ii)Well capitalizedThe term well capitalized has the meaning given that term in section 38(b). (iii)Well managedWith respect to an insured depository institution, the term well managed means that, when the institution was most recently examined by the appropriate Federal banking agency, the institution was found to be well managed, and the institution’s composite condition was found to be satisfactory or outstanding.. (2)Insured credit unionsSection 204 of the Federal Credit Union Act (12 U.S.C. 1784) is amended by adding at the end the following: (h)Examination relief for certain well managed and well capitalized insured credit unions (1)In generalThe following shall apply to a well managed and well capitalized insured credit union with $6,000,000,000 or less in consolidated assets: (A)Alternating limited-scope examinationsAfter an insured credit union receives a full-scope, on-site examination from the National Credit Union Administration, the next examination of the insured credit union by the National Credit Union Administration shall be a limited-scope examination, as determined by the National Credit Union Administration. (B)Combined examinationsIf an insured credit union is otherwise subject to separate safety and soundness examinations, consumer compliance examinations, and information technology and cybersecurity examinations, the National Credit Union Administration shall, upon request of the insured credit union, combine two or three such examinations, as specified by the insured credit union, and carry them out at the same time. (2)ExceptionParagraph (1) shall not apply to an insured credit union if the insured credit union is currently subject to a formal enforcement proceeding or order by the National Credit Union Administration. (3)RulemakingNot later than 12 months after the date of enactment of this subsection, the National Credit Union Administration shall issue rules to carry out paragraph (1), including, with respect to an insured credit union described under paragraph (1), to— (A)establish procedures for the limited-scope examinations described in paragraph (1)(A); (B)establish procedures for reviewing insured credit unions that— (i)experience material changes in financial condition or operational risk profile between scheduled examinations; or (ii)have failed to comply with Federal or State banking laws and regulations; and (C)balance the goals of streamlining the examination cycle for individual insured credit unions and reducing unnecessary regulatory burdens while maintaining sufficient oversight to ensure the continued safety and soundness of the insured credit unions and compliance with all applicable laws and regulations. (4)Rule of constructionNothing in this subsection may be construed to limit the authority of the National Credit Union Administration to conduct off-site monitoring, targeted reviews, or additional full-scope, on-site examinations of an insured credit union if the National Credit Union Administration determines such monitoring, reviews, or examinations are necessary to ensure safety and soundness or compliance with applicable laws. (5)DefinitionsIn this paragraph: (A)Consumer compliance examinationThe term consumer compliance examination means an examination to assess compliance with the requirements of Federal consumer financial law (as such term is defined in section 1002 of the Consumer Financial Protection Act of 2010). (B)Well capitalizedThe term well capitalized has the meaning given that term in section 216(c). (C)Well managedWith respect to an insured credit union, the term well managed means that, when the credit union was most recently examined by the National Credit Union Administration, the credit union was found to be well managed, and the credit union’s composite condition was found to be satisfactory or outstanding.. (b)Examination practices (1)Insured depository institutionsSection 10(d) of the Federal Deposit Insurance Act (12 U.S.C. 1820(d)), as amended by subsection (a)(1), is further amended by adding at the end the following: (12)Examination practicesWith respect to on-site examination of an insured depository institution with less than $6,000,000,000 in total assets, the appropriate Federal banking agency shall— (A)ensure the examination is led by, to the maximum extent practicable, an examiner with significant experience as an examiner; (B)make every effort, to the maximum extent practicable, to minimize the number of examiners utilized and the amount of time spent at the institution to carry out the examination; (C)make every effort, to the maximum extent practicable, to schedule the examination at a time that is convenient for the institution; and (D)to the maximum extent practicable, give the institution advance notice of issues expected to be covered in the examination. (13)ReportIn its annual report to Congress, each Federal banking agency shall include— (A)information on how the agency is complying with paragraphs (11) and (12); and (B)aggregate data summarizing the agency’s examination practices with respect to insured depository institutions with less than $6,000,000,000 in total assets, including— (i)the average experience of examiners, including the average number of years of examiner experience of those who lead on-site examinations; (ii)the average number of examiners utilized; and (iii)the average amount of time the agency spends visiting such institutions for on-site examinations.. (2)Insured credit unionsSection 204 of the Federal Credit Union Act (12 U.S.C. 1784), as amended by subsection (a)(2), is further amended by adding at the end the following: (i)Examination practicesWith respect to on-site examination of an insured credit union with less than $6,000,000,000 in total assets, the National Credit Union Administration shall— (1)ensure the examination is led by, to the maximum extent practicable, an examiner with significant experience as an examiner; (2)make every effort, to the maximum extent practicable, to minimize the number of examiners utilized and the amount of time spent at the credit union to carry out the examination; (3)make every effort, to the maximum extent practicable, to schedule the examination at a time that is convenient for the credit union; and (4)to the maximum extent practicable, give the credit union advance notice of issues expected to be covered in the examination. (j)ReportIn its annual report to Congress, the National Credit Union Administration shall include— (1)information on how the Administration is complying with subsections (h) and (i); and (2)aggregate data summarizing the Administration’s examination practices with respect to insured credit unions with less than $6,000,000,000 in total assets, including— (A)the average experience of examiners, including the average number of years of examiner experience of those who lead on-site examinations; (B)the average number of examiners utilized; and (C)the average amount of time the Administration spends visiting such credit unions for on-site examinations..

604.Tailored Regulatory Updates for Supervisory TestingSection 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.

605.Credit Union Board ModernizationSection 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 generalThe 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)MeetingsThe 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 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 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..

606.Systemic Risk Authority Transparency (a)GAO reviewSection 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 generalThe 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 constructionNothing 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 reportSection 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 generalThe 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)), all— (I)reports of examination and inspection that relate to the failed insured depository institution in the previous 3-year period; (II)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 privilegeThe 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 generalA 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 materialsIf 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 materialsIf, 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)PrivilegeFor purposes of this subparagraph, the term privilege includes any work-product, attorney-client, or other privilege recognized under Federal or State law. (C)Report extensionA 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 U.S. banking system; and (ii)notifies the Congress of such extension and the reasons for such extension. (D)Consolidated reportsA 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 constructionNothing 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..

607.Least cost exception (a)In generalSection 13(c)(4) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)) is amended— (1)in subparagraph (A)(ii), by inserting except as provided in subparagraph (I), before the total amount; (2)in subparagraph (E)(i), by inserting and except as provided in subparagraph (I), after appropriate,; and (3)by adding at the end the following: (I)Least cost resolution exception (i)In generalWith respect to an exercise of authority by the Corporation described in subparagraph (A), the Corporation may, at the discretion of the Corporation, select an alternative method of exercising such authority that is not the least costly to the Deposit Insurance Fund, if— (I)the Corporation determines that the selected alternative complies with the requirements of clause (iii); and (II)the Corporation and the Board of Governors of the Federal Reserve System, after consultation with the Secretary of the Treasury, determine that the potential additional risks to the Deposit Insurance Fund of the selected alternative are outweighed by the reasonably expected benefits of limiting further concentration of the United States banking system in global systemically important banking organizations. (ii)Maximum cost to the deposit insurance fundNot later than 1 year after the date of enactment of this subparagraph, the Corporation, by rule, shall establish criteria for determining on a case-by-case basis the maximum allowable cost against the net worth of the Deposit Insurance Fund that may be utilized to account for any determination under clause (i). (iii)Requirements describedThe requirements for the selected alternative described in clause (i) are as follows: (I)The selected alternative is the least costly to the Deposit Insurance Fund of all alternatives that do not involve a transaction with a global systemically important banking organization and that do not exceed the cost of liquidating the insured depository institution. (II)The difference between the cost of the selected alternative and the cost of a covered alternative is less than or equal to the maximum cost to the Deposit Insurance Fund specified pursuant to the rule adopted under clause (ii). (III)In the case of a selected alternative that involves another person purchasing assets of the insured depository institution or assuming deposit liabilities of the insured depository institution, such person agrees to pay an assessment to the Corporation comprised of payments— (aa)made over a period to be determined by the Corporation, but which may not be less than 5 years; and (bb)in an amount that takes into account, on a case-by-case basis, criteria the Corporation, by rule, shall establish, including a realistic discount rate, the aggregate amount equal to the difference calculated in subclause (II), and any bid inconsistent with the purposes of this Act, with such rule to be established by the Corporation not later than 1 year after the date of enactment of this subparagraph. (iv)Report to congressNot later than 30 days after selecting an alternative described in clause (i), the 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 an analysis of the economic difference between the cost to the Deposit Insurance Fund of the selected alternative and the cost to the Deposit Insurance Fund of the least costly alternative that would have been selected absent the application of this subparagraph. (v)Cost determinationsAll cost determinations required under this subparagraph shall be made in accordance with subparagraphs (B) and (C). (vi)DefinitionsIn this subparagraph: (I)Covered alternativeThe term covered alternative means a method of exercising authority described in subparagraph (A) that is the least costly to the Deposit Insurance Fund of all such methods that involve a sale of all or substantially all assets of the insured depository institution to, and assumption of all or substantially all deposit liabilities of the insured depository institution by, a global systemically important banking organization. (II)Global systemically important banking organizationThe term global systemically important banking organization means a global systemically important BHC (as such term is defined in section 217.402 of title 12, Code of Federal Regulations, or any successor thereto) and any affiliate thereof.. (b)Rule of constructionSection 13(c)(4)(H) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)(H)) does not apply to the amendments made by subsection (a).

608.Failing Bank Acquisition Fairness (a)Concentration limit exceptions only available to avoid serious adverse economic or financial effects (1)Concentration limits with respect to deposits (A)Federal Deposit Insurance ActThe Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) is amended— (i)in section 18(c)(13)— (I)by amending subparagraph (B) to read as follows: (B)Subparagraph (A) shall not apply to an interstate merger transaction if— (i)such interstate merger transaction involves 1 or more insured depository institutions in default or in danger of default and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from a company that is not subject to the prohibition in subparagraph (A); or (ii)the Corporation provides assistance under section 13 to facilitate such interstate merger transaction and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from a company that is not subject to the prohibition in subparagraph (A).; and (II)in subparagraph (C)— (aa)in clause (i), by striking and at the end; (bb)in clause (ii), by striking the period at the end and inserting a semicolon; and (cc)by adding at the end the following: (iii)the term qualified bid means an application, proposed application, or bid from a company where— (I)if applicable, the company, any affiliate insured depository institution, and any affiliate depository institution holding company are well capitalized and well managed, as of the date of the application, proposed application, or bid; and (II)upon consummation of the transaction, the resulting insured depository institution is well capitalized; (iv)the term well capitalized— (I)with respect to an insured depository institution, has the meaning given such term in section 38(b) (12 U.S.C. 1831o(b)); (II)with respect to a bank holding company, has the meaning given such term in section 2(o)(1)(B) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(o)(1)(B)); (III)with respect to a savings and loan holding company, has the meaning given such term in section 238.2 of title 12, Code of Federal Regulations; and (IV)with respect to a company that is not an insured depository institution, bank holding company, or savings and loan holding company, means maintaining equity capital that the Corporation determines is commensurate with the capital maintained by an insured depository institution that is well capitalized; and (v)the term well managed has the meaning given such term in section 2(o)(9) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(o)(9)).; and (ii)in section 44, by amending subsection (e) to read as follows: (e)Exception for Banks in Default or in Danger of Default (1)General exceptionThe responsible agency may, without regard to paragraph (1), (3), (4), or (5) of subsection (b) or paragraph (2), (4), or (5) of subsection (a), approve an application under subsection (a)(1) for approval of a merger transaction if— (A)the merger transaction involves 1 or more banks in default or in danger of default; or (B)the Corporation provides assistance under section 13(c) to facilitate such merger transaction. (2)Concentration limit exceptionThe responsible agency may, without regard to subsection (b)(2), approve an application under subsection (a)(1) for approval of a merger transaction if— (A)the merger transaction involves 1 or more banks in default or in danger of default and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in subsection (b)(2); or (B)the Corporation provides assistance under section 13(c) to facilitate such merger transaction and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in subsection (b)(2). (3)Qualified bid definedIn this subsection, the term qualified bid has the meaning given that term in section 18(c)(13)(C).. (B)Bank Holding Company Act of 1956The Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) is amended— (i)in section 3(d), by amending paragraph (5) to read as follows: (5)Exception for banks in default or in danger of default (A)General exceptionThe Board may, without regard to subparagraph (B) or (D) of paragraph (1) or paragraph (3), approve an application pursuant to paragraph (1)(A) if— (i)the application is for an acquisition of 1 or more banks in default or in danger of default; or (ii)the application is for an acquisition with respect to which assistance is provided under section 13(c) of the Federal Deposit Insurance Act. (B)Concentration limit exceptionThe Board may, without regard to paragraph (2), approve an application pursuant to paragraph (1)(A) if— (i)the application is for the acquisition of 1 or more banks in default or in danger of default and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in paragraph (2); or (ii)the application is for an acquisition with respect to which assistance is provided under section 13(c) of the Federal Deposit Insurance Act and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in paragraph (2). (C)Qualified bid definedIn this paragraph, the term qualified bid has the meaning given that term in section 18(c)(13)(C) of the Federal Deposit Insurance Act.; and (ii)in section 4(i)(8), by amending subparagraph (B) to read as follows: (B)ExceptionSubparagraph (A) shall not apply to an acquisition if— (i)such acquisition involves an insured depository institution in default or in danger of default and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid (as defined in section 18(c)(13)(C) of the Federal Deposit Insurance Act) from another institution that is not subject to the prohibition in paragraph (2); or (ii)the Federal Deposit Insurance Corporation provides assistance under section 13 of the Federal Deposit Insurance Act to facilitate such acquisition and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid (as defined in section 18(c)(13)(C) of the Federal Deposit Insurance Act) from another institution that is not subject to the prohibition in paragraph (2). . (2)Concentration limit with respect to consolidated liabilitiesSection 14(c) of the Bank Holding Company Act of 1956 (12 U.S.C. 1852(c)) is amended— (A)by redesignating paragraphs (1), (2), and (3) as subparagraphs (A), (B), and (C), respectively; (B)by striking With the and inserting the following: (1)In generalWith the; and (C)by adding at the end the following: (2)LimitationThe Board may provide written consent for an acquisition described in paragraph (1)(A) or in paragraph (1)(B) only if the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid (as defined in section 18(c)(13)(C) of the Federal Deposit Insurance Act) from another institution that is not subject to the prohibition in subsection (b).. (b)Congressional notification and justification for waivers (1)In generalWhenever the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, or the Federal Deposit Insurance Corporation waives a concentration limit under section 18(c)(13)(B) or section 44(e) of the Federal Deposit Insurance Act or under section 3(d)(5), section 4(i)(8)(B), or section 14(c)(2) of the Bank Holding Company Act of 1956, in connection with the acquisition of a bank or insured depository institution in default or in danger of default, or in connection with an acquisition with respect to which the Federal Deposit Insurance Corporation provides assistance under section 13 of the Federal Deposit Insurance Act, the waiving agency and the Federal Deposit Insurance Corporation, jointly, shall, not later than 30 days after such waiver, submit a written report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs in the Senate containing— (A)a justification for the waiver, including an analysis of why it was necessary to prevent significant economic disruption or significant adverse effects on financial stability; (B)a description of alternative bids or outcomes considered, including efforts to solicit and encourage bids from entities that would not require a waiver; (C)an explanation of why alternative bids were not selected, if applicable; and (D)any recommendations for legislative or regulatory changes to improve competition in future insured depository institution resolutions. (2)Public disclosureThe waiving agency submitting a report under paragraph (1) and the Federal Deposit Insurance Corporation shall make the report publicly available on their respective websites, subject to redactions for confidential supervisory information and any other information described under section 552(b) of title 5, United States Code. (c)Limitation on considering bad faith bids in least cost determinationSection 13(c)(4) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)), as amended by section 607(a)(3), is further amended by adding at the end the following: (J)Limitation on considering bad faith bidsIn making a determination under this paragraph of whether an exercise of authority is the least costly to the Deposit Insurance Fund, the Corporation may not consider any application, proposed application, or bid from a company, if such application, proposed application, or bid would result in violation of— (i)section 18(c)(13) or 44(b)(2); or (ii)section 3(d)(2), 4(i)(8), or 14 of the Bank Holding Company Act of 1956..

609.Advancing the Mentor-Protégé Program for Small Financial Institutions (a)In generalSection 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-Protégé Program (1)In generalThe Secretary of the Treasury shall establish a program to be known as the Financial Agent Mentor-Protégé 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)OutreachThe 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)ExclusionThe 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)ReportThe 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)DefinitionsIn this subsection: (A)Financial agentThe term financial agent means any national banking association designated by the Secretary of the Treasury to be employed as a financial agent of the Government. (B)Large financial institutionThe 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 institutionThe term rural depository institution means a depository institution (as defined in section 3 of the Federal Deposit Insurance Act)— (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)Small financial institutionThe 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.. (b)Effective dateThis section and the amendment made by this section shall take effect 90 days after the date of the enactment of this Act.

610.American Access to Banking (a)Streamlining application process and review of capital raising by de novo regulated institutions (1)In generalEach 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)ReportNot later than 1 year after the date of the enactment of this section, and annually for 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 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 generalEach 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 dutiesEach 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 caseworkerEach 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-Protégé partnerships (1)In generalAt 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 informationNot later than 1 year after the date of the enactment of this section, 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 generalEach 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 generalNot later than 2 years after the date of the enactment of this section, 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 commentWith 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 generalIn this section: (A)Federal banking agencyThe 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 agenciesThe 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 institutionThe 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)StateThe term State means each of the several States, the District of Columbia, and each territory of the United States. (E)State regulatorThe 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 constructionFor 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.

611.Promoting New Bank Formation (a)Pilot phase-in of capital standardsThe 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 generalDuring 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 changesThe appropriate Federal banking agency shall, not later than the end of the 90-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 actIf 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)StudyThe 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 CongressNot 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)StudyThe 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 congressNot 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)DefinitionsIn this section: (1)Appropriate Federal banking agencyThe 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 institutionThe 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 companyThe 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 agencyThe 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 institutionThe 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 bankThe 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.

612.Rural Depositories Revitalization Study (a)StudyThe 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)ReportNot 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 UnionsThe 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 UnionsNot 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). (c)DefinitionsIn this section: (1)Depository institutionThe 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 agenciesThe 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)RuralWith 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.

613.Discretionary Surplus Fund (a)In generalThe dollar amount specified under section 7(a)(3)(A) of the Federal Reserve Act (12 U.S.C. 289(a)(3)(A)) is reduced by $115,000,000. (b)Effective dateThe amendment made by subsection (a) shall take effect on September 30, 2035. Passed the House of Representatives February 9, 2026.Kevin F. McCumber,Clerk.

HR 6644 ENR: 21st Century ROAD to Housing Act U.S. House of Representatives text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I One Hundred Nineteenth Congress of the United States of America At the Second SessionBegun and held at the City of Washington on Saturday, the third day of January, two thousand and twenty-six H. R. 6644 AN ACT To increase the supply of housing in America, and for other purposes.

1.Short title; table of contents (a)Short titleThis Act may be cited as the 21st Century ROAD to Housing Act. (b)Table of contentsThe 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. 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-protégé 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. IOpportunities for Housing

101.Reforms to housing counseling and financial literacy programsSection 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)ReviewsThe 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 definedIn 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)ComparisonFor 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)CertificationIf, 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 generalThe 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)NoticeThe 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 conferenceIf 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 definedIn 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 borrowersA 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)CostIf 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))..

102.Federal guidelines for point-access block buildings (a)In generalNot 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)ContentsWhen 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; (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 councilThe 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 generalThe 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)SunsetThe 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 projectsProjects 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 constructionNothing in this section may be construed to preempt a State or local building code. (g)DefinitionsIn this section: (1)Eligible entityThe 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 buildingThe 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.

103.Exemption on construction or modification of residential housing located on an infill site (a)ExemptionIn 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)ReportNot 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)DefinitionsIn this section: (1)GreenfieldThe term greenfield means a site that has not been developed, including a woodland, farmland, and an open field. (2)Infill siteThe 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.

104.Database of publicly owned land (a)In generalSection 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 activitySection 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 dateThe amendment made by this subsection shall take effect on October 1, 2026.

105.FHA Small-Dollar Mortgages (a)In generalNot 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)ReportBeginning 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)SunsetThe 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 authorityAfter 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 definedThe 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.

106.Temperature Sensor Pilot Program (a)In generalThe 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 generalThe 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)CriteriaIn 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)InstallationEach 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 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 generalEach 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)DefinitionsThe 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 generalData 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 informationThe 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 evaluationNot 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 evaluationNot 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 projectsProjects 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)SunsetThe pilot program established under this section shall terminate on the date that is 3 years after the date of enactment of this section. (i)DefinitionsIn this section: (1)Approved temperature sensorThe 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)AssistanceThe 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 unitThe 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)OwnerThe 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.

107.Housing supply frameworks (a)DefinitionsIn this section: (1)Affordable housingThe 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 secretaryThe term Assistant Secretary means the Assistant Secretary for Policy Development and Research of the Department of Housing and Urban Development. (3)Local zoning frameworkThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (5)State zoning frameworkThe 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 generalNot 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 commentDuring 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)ContentsThe 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; (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 generalThe 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)RepealSection 1205 of the Housing and Community Development Act of 1992 (42 U.S.C. 12705d) is repealed. (d)ReportingNot 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 constructionNothing 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). IIBuilding More in America

201.Increasing housing in opportunity zones (a)Covered grant definedIn 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)PriorityWhen 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.

202.Whole-Home Repairs Act (a)DefinitionsIn this section: (1)Affordable unitThe 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 unitThe 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-ownerThe 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 landlordThe 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 propertyThe 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 loanThe 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 organizationThe 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 tribeThe 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 nonprofitThe 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 (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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (11)Specified programFor 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)StateThe 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 entityThe 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 repairsThe 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)EstablishmentThere 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 fundsAn 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 agreementIn 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 generalAn 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)ConsiderationsIn 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 informationThe 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). (6)Grant numberIn 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 forgivenIf 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 supplantAmounts 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 efficiencyTo 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 reportAn 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 alignmentTo 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 reportsNot 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 CongressThe 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 reviewA 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)TerminationThe pilot program established under this subsection shall terminate on October 1, 2031.

203.Community Investment and Prosperity Act (a)Revised StatutesThe 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 ActSection 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)StudyNot 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).

204.Addition of affordable housing construction as an eligible activity (a)Eligible activitySection 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 requirementSection 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)ApplicabilityThe amendments made by this section shall apply with respect only to amounts appropriated after the date of enactment of this Act.

205.Better Use of Intergovernmental and Local Development (BUILD) Housing Act (a)Designation of environmental review procedureThe 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:

13.Designation of environmental review procedure (a)In generalExcept 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). (b)ExceptionThe 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 obligationsSection 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 TribeFor 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 generalExcept 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)ExceptionIf 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.

206.Unlocking Housing Supply Through Streamlined and Modernized Reviews Act (a)DefinitionsIn this section: (1)Infill projectThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)NEPA streamlining for HUD housing-related activities (1)In generalThe 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)ImplementationFor 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)ReportThe 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.

207.Grants for planning and implementation associated with affordable housing (a)DefinitionsIn this section: (1)Eligible entityThe 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 planThe 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 strategyThe term housing strategy means a housing strategy required under section 105 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12705). (4)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)EstablishmentNot 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 agenciesIf 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 countiesIf 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 costsA eligible entity that receives amounts under this section may not use more than 10 percent of those amounts for administrative costs. (d)CoordinationTo the extent practicable, the Secretary shall coordinate with the Administrator of the Federal Transit Administration in carrying out this section. (e)Expiration of authorityAfter 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)SunsetThe program established under this section shall terminate on the date that is 5 years after the date of enactment of this Act.

208.Innovation Fund (a)DefinitionsIn this section: (1)Attainable housingThe 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 entityThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)Establishment of a grant program (1)EstablishmentNot 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 entitiesThe Secretary shall make a list of eligible entities publicly available on the website of the Department of Housing and Urban Development. (3)Eligible purposesAn 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 generalAn 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)InitiativesInitiatives 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 generalThe 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 awardsNo grant awarded under this paragraph may be— (i)more than $10,000,000; or (ii)less than $250,000. (C)PriorityWhen 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 termsProjects 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 constructionNothing 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)SunsetThe 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 generalThere is authorized to be appropriated to carry out this section $200,000,000 for each of fiscal years 2027 through 2031. (2)AdjustmentThe amount authorized to be appropriated under paragraph (1) shall be adjusted for inflation based on the Consumer Price Index for all Urban Customers published by the Bureau of Labor Statistics of the Department of Labor.

209.Accelerating Home Building Act (a)DefinitionsIn this section: (1)Affordable housingThe 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 structureThe 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 entityThe 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 areaThe 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 developmentThe 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 housingThe 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 designsThe 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 areaThe term rural area means any area other than a city or town that has a population of less than 50,000 inhabitants. (9)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)AuthorityThe 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)ConsiderationsIn 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 areasOf 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)ReportsThe 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 informationThe 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 repaymentThe 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 assistanceThe 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.

210.Revitalizing Empty Structures Into Desirable Environments (RESIDE) Act (a)In generalSubtitle 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:

227.Revitalizing empty structures into desirable environments (a)DefinitionsIn this section: (1)Attainable housingThe 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 unitThe term converted housing unit means a housing unit that is created using a covered grant. (3)Covered grantThe term covered grant means a grant awarded under the Pilot Program. (4)Eligible entityThe term eligible entity means a participating jurisdiction. (5)Pilot ProgramThe term Pilot Program means the pilot program established under subsection (b). (6)Vacant and abandoned buildingThe 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 programSubject 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 generalFor 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 fundingFor 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 allocationA 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)PriorityIn 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 fundsAn 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 authorityIn 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; reportNot 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 amendmentThe 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..

211.Housing Affordability Act (a)In generalTitle 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 generalThe Secretary shall publish in the Federal Register any adjustments made to the Dollar Amounts. (2)RoundingThe 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 constructionNothing 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 studyThe 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)ReportNot 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).

212.Rental Assistance Demonstration ProgramThe 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 an affordable housing tax credit or other housing affordability program..

213.Build Now Act (a)DefinitionsIn this section: (1)Covered recipientThe 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 rateThe 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 recipientThe 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 recipientThe 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 rateThe 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 rateThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (8)Section 106The 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 generalIn 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 generalIf, 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 amountFor 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 medianIf, 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 requirementsIn 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 requirementsThe 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 periodsThe 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 rateBefore 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 generalNot 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)GuidanceAs 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 datesSubsection (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 appropriationsThis section shall not apply to amounts appropriated before the date of enactment of this Act. IIIManufactured Housing for America

301.Housing Supply Expansion Act (a)In generalSection 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 chassisSection 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 generalThe 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 standardsThe 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 certificationsSection 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 certificationSubject 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 (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 submissionAny 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 deadlineWith 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 waiverThe 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 constructionNothing 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 planThe 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 recertificationNot 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)ListThe 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)DefinitionIn 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 saleIf 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 generalThe 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 definedIn 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)ProcessNo 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 standardsThe 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 StatesSection 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)PreemptionNothing 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)).

302.Modular Housing Production Act (a)DefinitionsIn this section: (1)Manufactured homeThe 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 homeThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)FHA construction financing programs (1)In generalThe Secretary shall conduct a review of Federal Housing Administration construction financing programs to identify barriers to the use of modular home methods. (2)RequirementsIn 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)ReportNot 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 generalNot 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)DeterminationFollowing 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 homesThe 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.

303.Property Improvement and Manufactured Housing Loan Modernization Act (a)National Housing Act amendments (1)In generalSection 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;; (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 limitationsThe 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 indexNot 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 indexDuring 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)DefinitionsIn this subsection: (A)offsite construction housingThe term offsite construction housing includes manufactured homes and modular homes. (B)Manufactured homeThe 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 homeThe 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)StudyNot 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.

304.PRICE Act (a)In generalTitle 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:

123.Preservation and reinvestment for community enhancement (a)DefinitionsIn this section: (1)Community development financial institutionThe 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 communityThe 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 recipientThe 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 tribeThe 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 communityThe 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 activitiesThe 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 entityThe 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)EstablishmentThere 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 generalAmounts 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)ReplacementFor 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 complies with the Manufactured Home Construction and Safety Standards or is another allowed type of home, as determined by the Secretary. (d)PriorityIn 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)WaiversThe 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 generalAny 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 amountsThe 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)SunsetThe program established under this section shall terminate on the date that is 7 years after the date of enactment of this section.. (b)ApplicationGrants 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. IVAccessing the American Dream

401.Creating incentives for small-dollar loan originators (a)DefinitionsIn this section: (1)DirectorThe term Director means the Director of the Bureau of Consumer Financial Protection. (2)Small-dollar mortgageThe 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 practicesNot 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 OriginatorsIn 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)ContentsThe 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.

402.Small-dollar mortgage points and fees (a)Small-dollar mortgage definedIn this section, the term small-dollar mortgage means a mortgage with an original principal obligation of less than $100,000. (b)AmendmentsNot 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.

403.Appraisal Industry Improvement Act (a)Appraisal standards (1)Certification or licensing (A)In generalSection 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)ApplicationSubparagraph (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 requirementsOn 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)ImplementationNot 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 companiesSection 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 registrySection 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 generalSection 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 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 constructionNothing 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 appraiserSection 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 appraisersIn 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)DefinitionSection 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 appraiserThe 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 trainingSection 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 SubcommitteeSection 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,.

404.Helping More Families Save ActSection 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)DefinitionsIn this subsection: (A)Covered familyThe 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 entityThe term eligible entity means an entity described in subsection (c)(2). (C)Pilot programThe term Pilot Program means the Pilot Program established under paragraph (2). (D)Welfare assistanceThe 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)EstablishmentThe 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 generalAn 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 limitationAn 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)WithdrawalsA 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 recertificationFor 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 planA 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 incomeAny 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 generalAn 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 varietyThe 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-outAn 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 rentsDuring 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)AwardsNot 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 accountsAn 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 generalAssistance 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 terminationHousing assistance may not be terminated as a consequence of participating, or not participating, in the Pilot Program under this subsection for any period. (10)StudyNot 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 services, or the lack thereof, had on individual incomes. (11)WaiversTo 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)TerminationThe 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 appropriationsSubject 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)..

405.Choice in Affordable Housing Act (a)Satisfaction of inspection requirements through participation in other housing programsSection 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 buildingsA 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 ProgramA 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 ServiceA 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 inspectionsWhen 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 constructionNothing 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 unitsSection 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)DefinitionIn 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 inspectionUpon 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)EffectAn 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 selectedWhen 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).. VProgram Reform

501.HOME Investment Partnerships Reauthorization and Reform Act (a)AuthorizationSection 205 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12724) is amended to read as follows:

205.Authorization of programThe HOME Investment Partnerships Program under subtitle A is hereby authorized.. (b)Definition of community housing development organizationSection 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 familiesTitle 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 jurisdictionsSection 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)LimitationThe 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 generalSection 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 generalA 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 standardsThe 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 constructionNothing 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)RulemakingNot 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 limitationsSection 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 qualificationsSection 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 exceptionNotwithstanding 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 qualificationsSection 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 (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)QualificationHousing 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 corporationNotwithstanding 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 membersA 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 ownersHousing 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 fundsSection 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 organizationsSection 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 reuseIf 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 expansionSection 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 generalSection 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 exemptionsThe 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 generalTo 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 responsibilitiesThe 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 entitiesA 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)RulemakingNot 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)ApplicabilityAny activity generated under this subsection would be subject to an authorization of appropriations. (4)DefinitionSection 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 generalNot 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 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 guidanceNot 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)ReportNot 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 requirementsTitle 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:

291.Nonapplicability of certain requirements for small projectsNotwithstanding 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 jurisdictionsSection 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 jurisdictionsThe 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 housingSection 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 housingSection 225 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12755) is amended by adding at the end the following: (e)ExceptionParagraphs (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 trustSection 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 organizationsSection 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 resourcesSection 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 reallocationsSection 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 reallocationThe 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 entityUnless otherwise specified. (3)Home property inspectionsSection 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 generalEach 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 governmentA 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 statesA 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 publicationA 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 noncomplianceSection 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 allocationsSection 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; (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 amendmentsThe 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).

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 proceduresSection 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 contractSection 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 familiesNot 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 upgradesUtilizing 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 appropriationsUtilizing 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)AvailabilityAmounts appropriated pursuant to paragraph (1) shall remain available until the date that is 5 years after the date of the appropriation. (3)TimelineThe 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 programTitle V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.) is amended by adding at the end the following:

545.Housing preservation and revitalization program (a)EstablishmentThe 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 ownersOn 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 generalOn 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)LanguageNotice 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 restructuringUnder 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 generalWhen 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. (2)Additional rental assistanceWith 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)RequirementAs 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 contractExcept 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 contractIf 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)TerminationThe 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 contractIf 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 assistanceWith 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 generalAny 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 amountsSubject 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 generalSubparagraph (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)RentIf the Secretary makes a positive determination under clause (i), the Secretary may approve a budget-based rent level for the project. (4)Conditions for approvalBefore 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 assistanceUnder 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 expensesOf 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 generalNot 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 ruleNot 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 authoritySection 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 eligibilitySection 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 initiativeSubtitle 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: 381O.Rural community development initiative (a)DefinitionsIn this section: (1)Eligible entityThe 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 intermediaryThe term eligible intermediary means a qualified— (A)private, nonprofit organization; or (B)public organization. (b)EstablishmentThe 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 grantsThe amount of a grant provided to an eligible intermediary under this section shall be not more than $500,000. (d)Matching funds (1)In generalAn 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)WaiverThe 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 programsTitle 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:

546.Annual report (a)In generalThe 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 informationThe 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 technologyNot 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; (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 generalNot 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 reviewThe 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 generalThe 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)ConsiderationsIf 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 dateFollowing 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)DeadlineThe 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 vouchersSection 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 projectsThe 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 assistanceNotwithstanding 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 projectsSection 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 organizationsA 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 generalSection 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)ApplicationThe 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 borrowerSection 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 assumptionUpon 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 generalThe mortgagee may charge an assuming borrower a reasonable and customary processing fee for an assumption request made under this subsection. (B)Maximum feeThe Secretary shall set a maximum allowable fee described in subparagraph (A), which may be indexed for inflation.. (q)Department of Agriculture loan restrictions (1)DefinitionsIn 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)RevisionThe 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 guaranteesSection 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)DefinitionIn 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 requirementLoans may be guaranteed; and (3)by adding at the end the following: (C)Rule of constructionNothing 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 CongressIt 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 generalNot 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 describedThe 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.

503.Incentivizing local solutions to homelessnessSection 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 generalNotwithstanding 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 generalA 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. (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)NotificationEach 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; publicationThe 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 generalA 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)NotificationIf 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)PublicationThe 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..

504.Reforming Disaster Recovery Act (a)DefinitionsIn this section: (1)DepartmentThe term Department means the Department of Housing and Urban Development. (2)FundThe term Fund means the Long-Term Disaster Recovery Fund established under subsection (c). (3)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)Duties of the Department of Housing and Urban Development (1)In generalThe 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 ResiliencySection 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)EstablishmentThere is established the Office of Disaster Management and Resiliency. (2)DutiesThe 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)EstablishmentThere 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 generalThe Fund shall consist of amounts appropriated, transferred, and credited to the Fund. (B)TransfersThe 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 amountsAmounts transferred to the Fund shall be used for the eligible uses described in paragraph (3). (3)Eligible uses of fund (A)In generalAmounts 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-asideOf 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 fundsWith 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 generalNot 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)AvailabilityFunding 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 amountsAny 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 amountsAmounts appropriated, transferred, and credited to the Fund shall remain available until expended. (6)Formula allocationUse 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 programTitle 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 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:

124.Community Development Block Grant Disaster Recovery Program (a)Authorization, formula, and allocation (1)AuthorizationThe 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 awardsGrants 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 allocationsGrants under this section shall not be considered relevant to the formula allocations made pursuant to section 106. (4)Federal Register notice (A)In generalNot 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 commentIf 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 generalThe 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 requirementsThe 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 thresholdThe Secretary shall, by regulation, establish a minimum allocation threshold. (D)Interim allocationUntil 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 generalThe 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 allocationIf 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 amountsIf 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 generalTo 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)MaximumThe Secretary may award preliminary funding under subparagraph (A) in an amount that is not more than $5,000,000. (ii)Sliding scaleThe 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 fundsThe 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 fundingPreliminary 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)WaiverTo 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 generalAn 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)ApplicabilityNotwithstanding 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 assistanceConcurrent 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 generalThe 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)RequirementsThe Secretary shall establish requirements to expedite the use of grants under this section for the purpose described in paragraph (1). (3)Emergency designationAmounts 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)RequirementNot 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 consultationTo 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)ApprovalThe 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 fundsNot 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)RegulationsThe 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)PrioritizationThe 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 allocationFor 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)DefinitionIn 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 areasThe 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 generalFor 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 assistanceAll 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 risksThe 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 generalThe 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)PolicyEach 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)CertificationsAny 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 (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 generalThe 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 targetsThe 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)SuspensionIf 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 planIf 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)ReportIf 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 reportA 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 availabilitySubject 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 reportsTo 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)ConsiderationsIn 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 generalThe 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 protectionsIn 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 generalActivities 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)ProhibitionGrant 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 generalThe 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)AvailabilityAmounts 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 generalGrantees 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 fundsIf 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)WaiversIn carrying out this subparagraph, the Secretary may include any waivers or alternative requirements in accordance with subsection (i). (4)Program incomeNotwithstanding 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 generalGrants 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)ApplicabilityThe 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)RequirementsGrants 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)AdoptionA 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 fundsNotwithstanding 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 governmentThe 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 generalThe 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)CertificationBefore 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 allocationThe 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 generalFunds made available under this section shall be used in accordance 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)PenaltiesIn 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 complyAny 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 generalIn 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 dateA 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 notificationThe 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 amountsA 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)RecaptureThe 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 fundsNotwithstanding 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 fundsThe 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)DefinitionIn 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 rulesFollowing 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 rulesNot 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 assistanceIn 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 agreementsTo 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 HUDAs 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 granteesThe 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)ReportingGrantees 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 informationThe 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 generalThe 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 agreementNotwithstanding 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)SunsetThe 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 CongressIt 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. (i)ApplicationGrants 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.

505.New Moving to Work cohort (a)DefinitionsIn this section: (1)Moving to Work demonstrationThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)Authorization of additional public housing agencies (1)In generalAfter 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)NameThe new cohort authorized under paragraph (1) shall be entitled the Economic Opportunity and Pathways to Independence Cohort. (c)Waiver authority (1)In generalSubject 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)ModificationsThe 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 generalUnder 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 waversIf 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 optionsIn 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 generalPublic 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 usesSuch other uses of amounts described in paragraph (1) shall comply with all other applicable requirements. (3)Formula (A)RenewalThe 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 feesThe 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 requirementsThe 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 agenciesConsistent 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 generalIf 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)ComplianceUpon making a determination under paragraph (1), the Secretary shall develop a process to bring the public housing agency into compliance. (3)RemovalIf 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)NotificationUpon 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 generalThe 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)CoordinationThe 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 requirementNot 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: (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 generalThe 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 generalThe 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)DatabaseThe 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. VIVeterans and Housing

601.Military Service Question (a)In generalSubpart 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: 1329.Uniform residential loan applicationNot 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 studyNot 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).

602.Housing Unhoused Disabled Veterans Act (a)Exclusion of certain disability benefitsSection 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 generalWhen 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)DefinitionsIn this subsection: (A)Department propertyThe term Department property has the meaning given the term in section 901 of title 38, United States Code. (B)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.

603.Veterans Affairs Loan Informed Disclosure (VALID) Act (a)FHA informed consumer choice disclosure (1)Inclusion of information relating to VA loansSubparagraph (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 constructionNothing 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 generalSubpart 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: 1330.Uniform residential loan applicationNot 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)RulemakingNot 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. VIIOversight and Accountability

701.Requiring annual testimony and oversight from housing regulatorsSection 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 testimonyThe 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..

702.FHA reporting requirements on safety and soundnessSection 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 reportingThe 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)..

703.United States Interagency Council on Homelessness oversightSection 203(a) of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11313(a)) is amended— (1)in paragraph (1)— (A)by striking Homeless Emergency Assistance and Rapid Transition to Housing Act of 2009 and inserting 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..

704.Appraisal Modernization Act (a)Reconsideration of value (1)Federally backed mortgage loan definedIn 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)RequirementThe 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 definedIn 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 reportNot 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)PurposeThe 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)ConsultationAs 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)HearingUpon 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. VIIIAccountability, Coordination, Studies, and Reporting

801.HUD–USDA–VA Interagency Coordination Act (a)Memorandum of understandingThe 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)ReportNot 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)PublicationThe 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.

802.Streamlining Rural Housing Act (a)In generalNot 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)ReportNot 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.

803.Improving self-sufficiency of families in HUD-subsidized housing (a)In general (1)StudySubject to subsection (b), the Secretary of Housing and Urban Development shall 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)ScopeThe 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)ReportNot 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 describedThe 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)DeterminationThe 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).

804.GAO studies (a)Workforce housing study (1)Middle-income household definedIn 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)StudyNot 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 disabledNot 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 sitesNot 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 propertyNot 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.

805.Improving public housing agency accountability (a)DefinitionsIn this section: (1)Covered public housing agencyThe 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 GeneralThe term Inspector General means the Inspector General of the Department of Housing and Urban Development. (3)SecretaryThe term Secretary means the Secretary of Housing and Urban Development. (b)Required noticeThe 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 generalNotwithstanding 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 informationIn 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 requiredThe 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. (5)The name of the official who solicited the contract. (e)Inspector General reviewNot 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. IXStrengthening Community Banks’ Role in Housing

901.Community bank deposit access (a)In generalSection 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 generalCustodial 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)DefinitionsIn this subsection: (A)Custodial depositThe 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 institutionThe 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)PlanThe 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 administratorThe 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 capitalizedThe term well capitalized has the meaning given the term in section 38(b).. (b)Interest rate restrictionSection 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)DefinitionsIn 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)ProhibitionA 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 ratesThe 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..

902.Keeping deposits local (a)Amount of reciprocal deposits that are not considered to be funds obtained by or through a deposit brokerSection 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 generalThe 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 institutionSection 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 generalThe 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)ContentsThe 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)ReportNot 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).

903.Tailored regulatory updates for supervisory testingSection 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.

904.Credit union board modernizationSection 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 generalThe 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)MeetingsThe 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..

905.Systemic risk authority transparency (a)GAO reviewSection 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 generalThe 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 constructionNothing 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 reportSection 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 generalThe 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 privilegeThe 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 generalA 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 materialsIf 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 materialsIf, 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)PrivilegeFor purposes of this subparagraph, the term privilege includes any work-product, attorney-client, or other privilege recognized under Federal or State law. (C)Report extensionA 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 reportsA 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 constructionNothing 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..

906.Advancing the mentor-protégé program for small financial institutionsSection 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-protégé program (1)In generalThe Secretary shall establish a program to be known as the Financial Agent Mentor-Protégé 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)OutreachThe 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)ExclusionThe 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)ReportThe 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)DefinitionsIn this subsection: (A)Financial agentThe 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 institutionThe 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 institutionThe 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)SecretaryThe term Secretary means the Secretary of the Treasury. (E)Small financial institutionThe 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..

907.American access to banking (a)Streamlining application process and review of capital raising by de novo regulated institutions (1)In generalEach 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)ReportNot 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 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 generalEach 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 dutiesEach 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 caseworkerEach 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-protégé partnerships (1)In generalAt 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 informationNot 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 generalEach 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 generalNot 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 commentWith 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 generalIn this section: (A)Federal banking agencyThe 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 agenciesThe 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 institutionThe 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)StateThe term State means each of the several States, the District of Columbia, and each territory of the United States. (E)State regulatorThe 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 constructionFor 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.

908.Promoting new bank formation (a)Pilot phase-in of capital standardsThe 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 generalDuring 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 changesThe 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 actIf 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)StudyThe 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 congressNot 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)StudyThe 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 congressNot 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)DefinitionsIn this section: (1)Appropriate federal banking agencyThe 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 institutionThe 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 companyThe 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 agencyThe 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 institutionThe 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 bankThe 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.

909.Rural depositories revitalization study (a)StudyThe 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)ReportNot 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 unionsThe 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 unionsNot 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)DefinitionsIn this section: (1)Depository institutionThe 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 agenciesThe 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)RuralWith 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. XHome-ownership for Main Street America 1001. Homes are for people, not corporations (a)DefinitionsIn this section: (1)Consumer reporting agencyThe 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 purchaseThe 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 generalThe 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 constructionFor 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)PurchaseThe 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 homeThe 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 generalNo large institutional investor may purchase, or enter into a contract to directly or indirectly purchase, any single-family home. (2)ExceptionsThe 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 constructionNothing 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 generalIn 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 constructionFor 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; (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 generalThe 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 generalThe 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)ContentsResponses 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 generalThe 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 informationUpon 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 authorityWhen 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 resourceEach 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 generalThe 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 dataAny 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 informationIn 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 notificationNot 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 penaltiesThe 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 activitiesFor 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 reportNot 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 reportNot 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 congressIt 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 dateThe 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). XICentral bank digital currency 1101.Central bank digital currencyThe 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: 16A.Central bank digital currency (a)DefinitionsIn this section: (1)Central bank digital currencyThe term central bank digital currency means a digital asset that— (A)is denominated in United States dollars; (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 assetThe term digital asset has the meaning given the term in section 2 of the GENIUS Act (12 U.S.C. 5901). (b)ProhibitionExcept 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)ExceptionSubsection (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)SunsetThis provisions of this section shall cease to be effective on December 31, 2030. (e)Rule of constructionNothing 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.. XIIMiscellaneous 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. 1202.No additional funds authorizedNo additional funds are authorized to be appropriated to carry out the requirements of this Act or any amendment made by this Act. Speaker of the House of Representatives.Vice President of the United States and President of the Senate.

119 HR 6644 IH: Housing for the 21st Century Act U.S. House of Representatives 2025-12-11 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I119th CONGRESS1st SessionH. R. 6644IN THE HOUSE OF REPRESENTATIVESDecember 11, 2025Mr. Hill of Arkansas (for himself, Ms. Waters, Mr. Flood, and Mr. Cleaver) introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concernedA BILLA bill to increase the supply of housing in America, and for other purposes.1.Short title; table of contents(a)Short titleThis Act may be cited as the Housing for the 21st Century Act.(b)Table of contentsThe table of contents for this Act is as follows:Sec. 1. Short title; table of contents.Title I—Building Smarter for the 21st CenturySec. 101. Housing Supply Frameworks.Sec. 102. Accelerating home building grant program.Sec. 103. Federal guidelines for point-access block buildings.Sec. 104. Unlocking Housing Supply Through Streamlined and Modernized Reviews.Sec. 105. Federal Housing Agency Application of Environmental Reviews.Sec. 106. Multifamily loan limits.Sec. 107. GAO studies.Title II—Modernizing Local Development and Rural Housing ProgramsSec. 201. HOME Reform.Sec. 202. Community Development Fund Amendments.Sec. 203. Planning and implementation grants for affordable housing.Sec. 204. Rural housing service program improvements.Sec. 205. Choice in Affordable Housing.Title III—Expanding Manufactured and Affordable Housing Finance OpportunitiesSec. 301. Manufactured Housing Innovations.Sec. 302. FHA small-dollar mortgages study.Title IV—Protecting Borrowers and Assisted FamiliesSec. 401. Exclusion of certain disability benefits.Sec. 402. Military service question.Sec. 403. HUD–USDA–VA Interagency Coordination.Sec. 404. Family self-sufficiency escrow expansion pilot program.Sec. 405. Reforms to housing counseling and financial literacy programs.Sec. 406. Establishment of eviction helpline.Sec. 407. Temperature Sensor Pilot Program.Sec. 408. GAO studies.Title V—Enhancing Oversight of Housing ProvidersSec. 501. Requirement to testify.Sec. 502. Disclosure required.Sec. 503. Investigation and report to Congress.Sec. 504. Federal monitor and receiver testimony.Sec. 505. Annual testimony.IBuilding Smarter for the 21st Century101.Housing Supply Frameworks(a)DefinitionsIn this section:(1)Affordable housingThe 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 SecretaryThe term Assistant Secretary means the Assistant Secretary for Policy Development and Research of the Department of Housing and Urban Development.(3)Local zoning frameworkThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(5)State zoning frameworkThe 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 generalNot 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 commentDuring 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, 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)ContentsThe 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;(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; and (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 generalThe 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)RepealSection 1205 of the Housing and Community Development Act of 1992 (42 U.S.C. 12705d) is repealed.(d)ReportingNot 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 the Congress a report describing—(1)the States that have adopted recommendations from the guidelines and best practices, pursuant to section 4 of this Act;(2)a summary of the localities that have adopted recommendations from the guidelines and best practices, pursuant to Section 4 of this Act;(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; and(5)a general summary of the types of updates localities have made to their local zoning framework.102.Accelerating home building grant program(a)DefinitionsIn this section:(1)Affordable housingThe 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 structureThe 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 entityThe 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 areaThe 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 developmentThe term infill development means residential development on small parcels in previously established areas for replacement by new or refurbished housing that utilizes existing utilities and infrastructure.(6)Mixed-income housingThe term mixed-income housing means a housing development that is comprised of housing units that promote differing levels of affordability in the community.(7)Pre-reviewed designsThe term pre-reviewed 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 areaThe term rural area means any area other than a city or town that has a population of less than 50,000 inhabitants.(9)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(b)AuthorityThe Secretary may award grants to eligible entities to select pre-reviewed 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)ConsiderationsIn reviewing applications submitted by eligible entities for a grant under this section, the Secretary shall consider—(1)the need for affordable housing by 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)ReportsThe 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 pre-reviewed designs selected using the grant amounts in their communities;(3)the number of permits issued for housing development utilizing pre-reviewed designs; and(4)the number of housing units produced in developments utilizing the pre-reviewed designs.(f)Availability of informationThe Secretary shall—(1)to the extent possible, encourage localities to make publicly available through a website information on the pre-reviewed 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 repaymentThe Secretary may require an eligible entity to return to the Secretary any grant funds received under this section if the selected pre-reviewed 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.103.Federal guidelines for point-access block buildings(a)In generalNot 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)ContentsWhen developing the guidelines under subsection (a), the Secretary 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;(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 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 CouncilThe Secretary 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)GrantsThe Secretary may 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.(e)Rule of constructionNothing in this section may be construed to preempt a State or local building code.(f)DefinitionsIn this section: (1) 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 5 stories in height. (2)Eligible entityThe 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.104.Unlocking Housing Supply Through Streamlined and Modernized Reviews (a) NEPA streamlining for HUD housing-Related activities (1) In general The Secretary of Housing and Urban Development 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, as defined in section 8(o) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)). (ii) Supportive services, including health care, housing services, permanent housing placement, day care, nutritional services, short-term payment 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 homebuyers to purchase 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 pre-development 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 homeowner or renter assistance for HVAC, hot water heaters, and other necessary uses of 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 sections 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 on up to 4 scattered site existing dwelling units where there is a maximum of 4 units on any 1 site. (iv) Acquisitions (including leasing) or 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 sections 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 to not more than 20 percent. (iii) New construction, development, demolition, acquisition, or disposition on 5 to 15 dwelling units where there is a maximum of fifteen 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 on 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) Buyouts, defined as the voluntary acquisition of properties located in a— (I) floodway; (II) floodplain; or (III) other area, clearly delineated by the grantee, that has been impacted by a predictable environmental threat to the safety and wellbeing of program beneficiaries caused or exacerbated by a Federally declared disaster. (2) 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 annual reports during the 5-year period beginning on the date that is 2 years after the date of enactment of this Act that provide 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 subsection, 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. (b)Better Use of Intergovernmental and Local Development for Housing(1)Designation of environmental review procedureThe 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:13.Designation of environmental review procedure(a)In generalExcept 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).(b)ExceptionThe 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..(2)Tribal assumption of environmental review obligationsSection 305(c) of the Multifamily Housing Property Disposition Reform Act of 1994 (42 U.S.C. 3547) is amended—(A)by striking State or unit of general local government each place it appears and inserting State, Indian Tribe, or unit of general local government;(B)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(C)by adding at the end the following:(5)Definition of Indian TribeFor 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)Infill project definedIn this section, the term infill project means a project that—(1)occurs within the geographic limits of a municipality;(2)is adequately served by existing utilities and public services as required under applicable law;(3)is located on a site of previously disturbed land of not more than 5 acres and substantially surrounded by residential or commercial development;(4)will repurpose a vacant or underutilized parcel of land, or a dilapidated or abandoned structure; and(5)will serve a residential or commercial purpose.105.Federal Housing Agency Application of Environmental Reviews(a)In generalNot 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 (as defined in section 111 of the National Environmental Policy Act of 1969 (42 U.S.C. 4336e)) for housing projects funded by amounts from the Department of the Housing and Urban Development and the Department of Agriculture;(2)develop a process to designate a lead agency among the Department of Housing and Urban Development and the Department of Agriculture and streamline the adoption of environmental impact statements and environmental assessments approved by the other agency to construct housing projects funded by amounts from 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; and(4)evaluate the feasibility of a joint physical inspection process for housing projects funded by amounts from the Department of the Housing and Urban Development and the Department of Agriculture.(b)Advisory working group(1)In generalNot 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 establish an advisory working group for the purpose of consulting on the implementation of the memorandum of understanding entered into under subsection (a).(2)MembersThe advisory working group established under paragraph (1) shall consist of rural and non-rural stakeholders, including—(A)affordable housing nonprofit organizations;(B)State housing and housing finance agencies;(C)nonprofit and for-profit home builders and housing developers;(D)property management companies;(E)owners of multifamily properties, including nonprofit and for-profit owners and operators;(F)public housing agencies;(G)residents in housing assisted by the Department of Housing and Urban Development or the Department of Agriculture and representatives of those residents; and(H)housing contract administrators.(c)ReportNot 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 the 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.106.Multifamily loan limits(a)In generalTitle 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 January 1, 2026. 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 calculated 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.;(B)by amending subsection (b) to read as follows:(b)RoundingThe dollar amount of any adjustment described in subsection (a) shall be rounded to the next lower dollar. (c)PublicationThe Secretary shall publish in the Federal Register any adjustments made to the Dollar Amounts.;(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 constructionNothing 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.107.GAO studies(a)Workforce housing study(1)In generalNot later than 1 year after the date of the enactment of this section, the Comptroller General of the United States shall conduct a study and submit to the 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 for 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 such middle-income households in Federal housing programs; 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.(2)Middle-income household definedIn 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 with adjustments for smaller and larger families.(b)Uniform building code studyNot later than 1 year after the date of the enactment of this section, the Comptroller General of the United States shall conduct a study and submit a report to the Congress that examines the costs and benefits that could be associated with establishing a Federal uniform residential building code, including whether such a code could—(1)reduce the amount of time required for units of local government to approve new construction;(2)reduce the cost of residential construction in the United States; or(3)increase the quality of available and affordable residential housing in the United States.IIModernizing Local Development and Rural Housing Programs201.HOME Reform(a)In generalSection 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704) is amended—(1)in paragraph (6)(B), by striking significant; and(2)by adding at end the following new paragraph:(26)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..(b)Assistance for low-Income familiesTitle II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.) is amended—(1)in section 214(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;(2)in section 215—(A)in subsection (b)(2), 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; and(B)in subsection (b)(3)(A)(ii), by striking low-income homebuyers and inserting homebuyers 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(3)in section 271(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.(c)Choices made by participating jurisdictionsSection 212(a)(2) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12742) is amended to read as follows:(2)LimitationThe Secretary may not restrict a participating jurisdiction’s choice of rehabilitation, substantial rehabilitation, new construction, reconstruction, acquisition, or other eligible housing uses authorized in paragraph (1) unless such restriction is explicitly authorized under section 223(2)..(d)Use of amounts by certain jurisdictions for infrastructure improvements(1)In generalSection 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 generalA 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; 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 standardsThe 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 constructionNothing 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)RulemakingNot later than 1 year after the date of the enactment of this section, the Secretary shall issue rules to carry out the amendment made by paragraph (1).(e)Per unit investment limitationsSection 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.(f)Affordable rental housing qualificationsSection 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 ExceptionNotwithstanding 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 tenant’s contribution toward rent does not exceed the amount permitted under such section 8 assistance; and(C)the total rent for the unit does not exceed the amount approved by the public housing agency administering the assistance under that program..(g)Affordable homeownership housing qualificationsSection 215 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12745(b)) is amended—(1)in subsection (b)—(A)in paragraph (1), by striking 95 percent and inserting 110 percent;(B)in paragraph (3)—(i)in subparagraph (A)(ii), by striking or at the end;(ii)in subparagraph (B), by striking and at the end and inserting or; and(iii)by adding at the end the following new subparagraph:(C)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 homebuyers 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; and; and(2)by adding at the end the following:(c)Qualification exceptions for homeownership(1)Military membersA participating jurisdiction, in accordance with terms established by the Secretary, may suspend or waive the income qualifications described in subsection (b)(2) with respect to housing that otherwise meets the criteria described in subsection (b) 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(d) 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 ownersHousing that meets the criteria described in subsection (b)(3) 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.. (h) 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). (i) 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 title II of this Act without regard to whether a community housing development organization materially participates in the use of such funds. . (j)Asset recycling information dissemination expansionSection 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.(k)Environmental review requirements(1)In generalSection 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 exemptionsThe 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); and(4)new construction projects of 15 units or less.(f)Removing duplicative reviews(1)In generalTo 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 responsibilitiesThe Secretary shall, by regulation, provide for coordination of environmental review responsibilities with other Federal agencies to streamline inter-agency 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 entitiesA 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)RulemakingNot 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.(l)Application of other specified statutory requirementsTitle 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 new sections:291.Application of build America, buy America requirementsWith respect to activities assisted under this title, requirements under the Build America, Buy America Act (41 U.S.C. 8301 note) and any implementing regulations or guidance, shall only apply to infrastructure improvements conducted under section 212(a)(4) using funds provided under subtitle A.292.Nonapplicability of certain requirements for small projectsNotwithstanding 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 50 or fewer..(m)Technical amendmentsThe 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 it appears and inserting McKinney-Vento Homeless Assistance Act; and(2)by striking Committee on Banking, Finance and Urban Affairs each place it appears and inserting Committee on Financial Services.202.Community Development Fund Amendments(a)Identifying Regulatory Barriers to Housing SupplySection 104 of the Housing and Community Development Act of 1974 (42 U.S.C. 5304) is amended by adding at the end the following: (n) Plan To track and reduce overly burdensome land use policies (1) In general Beginning 1 year after the date of the enactment of this subsection, prior to receipt in any fiscal year of a grant from the Secretary under subsection (b), (d)(1), or (d)(2)(B) of section 106, each recipient shall have prepared and submitted, not less frequently than once during the preceding 5-year period, a description of— (A) whether the jurisdiction served by the recipient has adopted any of the types of land use policies described in paragraph (2) during the preceding 5-year period; (B) the plans the jurisdiction served by the recipient has to adopt and implement any of the types of land use policies described in paragraph (2); and (C) any ways in which the jurisdiction served by the recipient expects the planned adoption of any of the types of land use policies described in paragraph (2) would benefit the jurisdiction. (2) Types of land use policies The types of policies to be considered for the purposes of the submission of information required under paragraph (1) include the following: (A) Expanding by-right multifamily zoned areas. (B) Allowing duplexes, triplexes, or fourplexes in areas zoned primarily for single-family residential homes. (C) Allowing manufactured homes in areas zoned primarily for single-family residential homes. (D) Allowing multifamily development in retail, office, and light manufacturing zones. (E) Allowing single-room occupancy development wherever multifamily housing is allowed. (F) Reducing minimum lot size. (G) Ensuring historic preservation requirements and other land use policies or requirements are coordinated to encourage creation of housing in historic buildings and historic districts. (H) Increasing the allowable floor area ratio by allowing a higher ratio of total floor area in a building in comparison to its lot size. (I) Creating transit-oriented development zones. (J) Streamlining or shortening permitting processes and timelines, including through one-stop and parallel-process permitting. (K) Eliminating or reducing off-street parking requirements. (L) Ensuring impact and utility investment fees accurately reflect required infrastructure needs and related impacts on housing affordability are otherwise mitigated. (M) Allowing off-site construction, including prefabricated construction. (N) Reducing or eliminating minimum unit square footage requirements. (O) Allowing the conversion of office units to apartments. (P) Allowing the subdivision of single-family homes into duplexes. (Q) Allowing accessory dwelling units, including detached accessory dwelling units, on all lots with single-family homes. (R) Establishing density bonuses. (S) Eliminating or relaxing residential property height limitations. (T) Using property tax abatements to enable higher density and mixed-income communities. (U) Donating vacant land for affordable housing development. (V) Enacting other relevant high-density single-family and multifamily zoning policies that the recipient chooses to report. (3) Effect of submission A submission under this subsection shall not be binding with respect to the use or distribution of amounts received under section 106. (4) Acceptance or nonacceptance of plan The acceptance or nonacceptance of any plan submitted under this subsection in which the information required under this subsection is provided may not be considered an endorsement or approval of the plan, policies, or methodologies, or lack thereof. (5) Prohibition on use of information for enforcement Information provided by a recipient to the Secretary under this subsection may not be used as the basis for any enforcement action. .(b)Addition of affordable housing construction as an eligible activity(1)Eligible activitySection 105(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(a)) is amended—(A)in paragraph (25)(D), by striking and at the end;(B)in paragraph (26), by striking the period at the end and inserting ; and; and(C)by adding at the end the following new paragraph:(27)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)..(2)Low and moderate income requirementSection 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.(3)ApplicabilityThe amendments made by this subsection shall apply with respect only to amounts appropriated after the date of the enactment of this Act.(c)Databases of publicly owned land(1)In generalSection 104(b) of the Housing and Community Development Act of 1974 (42 U.S.C. 5304(b)) is amended—(A)in paragraph (5), by striking and at the end;(B)in paragraph (6), by striking the period at the end and inserting ; and; and(C)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..(2)Effective dateThe amendments made by this subsection shall take effect on October 1, 2026.203.Planning and implementation grants for affordable housing(a)Planning grantsNot later than 1 year after the date of the enactment if this section, the Secretary of Housing and Urban Development shall, using selection criteria determined by the Secretary, award grants on a competitive basis to regional planning agencies or consortia to use to assist planning activities with respect to affordable housing, including—(1)the development of housing plans;(2)the substantial improvement of State or local housing strategies;(3)the development of new regulatory requirements and processes;(4)the reforming of zoning codes;(5)increasing the capacity to conduct housing inspections;(6)increasing the capacity to reduce barriers to housing supply elasticity and housing affordability;(7)the development of local or regional plans for community development; and(8)the substantial improvement of community development strategies, including strategies designed to—(A)increase the availability of affordable housing and access to affordable housing;(B)increase access to public transportation; and(C)advance sustainable or location-efficient community development goals.(b)Implementation and livable community investment grants(1)In generalNot later than 1 year after the date of the enactment if this section, the Secretary shall award implementation grants on a competitive basis to eligible entities to use to—(A)implement and administer housing strategies and housing plans;(B)fund any community investments that support goals identified in a housing strategy or housing plan;(C)implement and administer regulatory requirements and processes with respect to reformed zoning codes;(D)increase the capacity to conduct housing inspections;(E)increase the capacity to reduce barriers to housing supply elasticity and housing affordability;(F)implement and administer local or regional plans for community development; and(G)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.(2)DefinitionsIn this subsection:(A)Eligible entityThe term eligible entity means a State, insular area, metropolitan city, or urban county, as such terms are defined in section 102 of the Housing and Community Development Act of 1974.(B)Housing planThe term housing plan means a plan to, with respect to an area within the jurisdiction of an eligible entity—(i)increase the amount of available housing to meet the demand for such housing and any projected increase in the demand for such housing;(ii)increase the affordability of housing;(iii)increase the accessibility of housing for people with disabilities, including location-efficient housing;(iv)preserve or improve the quality of housing;(v)reduce barriers to housing development; and(vi)coordinate with transportation-related agencies.(C)Housing strategyThe term housing strategy means a housing strategy required under section 105 of the Cranston-Gonzalez National Affordable Housing Act.(c)CoordinationTo the extent practicable, the Secretary shall coordinate with the Federal Transit Administrator in carrying out this section.(d)Use for administrative costsAny entity that receives a grant under this section may not use more than 15 percent of such grant amounts for administrative costs.(e)Rules of construction(1)In generalExcept as otherwise provided by this section, amounts appropriated or otherwise made available under this section shall be subject to the community development block grant program requirements under subsection (a)(1).(2)Exceptions(A)Housing constructionExpenditures on new construction of housing shall be an eligible expense under this section.(B)Buildings for general conduct of governmentExpenditures on building for the general conduct of government, other than the Federal Government, shall be eligible under this section when necessary and appropriate as a part of a natural hazard mitigation project.204.Rural housing service program improvements(a)In generalSection 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;(2)by inserting Not less than 60 percent of loan funds made available under this section shall be reserved and made available for very low-income applicants. after the first sentence; and(3)by striking $7,500 and inserting $15,000.(b)Annual report on rural housing programsTitle 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:545.Annual report(a)In generalThe 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 and publish on a website of the Department of Agriculture an annual report on the rural housing programs carried out under this title.(b)ContentsThe report required under subsection (a) shall include shall include significant details on the information about the health of the programs carried out by the Rural Housing Service, including—(1)raw data about loan performance that can be sorted by program and region;(2)a description of the housing stock of such programs;(3)information about why properties end participation in such programs, including maturation prepayment, foreclosure, or other servicing issues; and(4)risk ratings for properties assisted under such programs.(c)Protection of informationData included in a report required under subsection (a) may be aggregated or anonymized to protect the financial information and personal information of program participants..(c)Application review(1)Sense of CongressIt is the sense of the 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 generalNot 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 that—(i)details the timeliness of eligibility determinations and final determinations with respect to applications under section 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)includes recommendations to shorten the timeline for notifications of eligibility determinations described in subparagraph (A) to not more than 90 days.(B)Date describedThe date described in this paragraph 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.(d)GAO report on Rural Housing Service technologyNot later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to the 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;(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.205.Choice in Affordable Housing (a) 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 family 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 the requirements in this subparagraph and subparagraph (C) if the new landlord enters into a lease agreement with a family 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). . (b)Satisfaction of inspection requirements through participation in other housing programsSection 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 buildingsA 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 financed by a person who received a low-income housing tax credit under section 42 of the Internal Revenue Code of 1986 in exchange for that financing;(II)the dwelling unit was physically inspected and passed inspection as part of the low-income housing tax credit 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).(ii)Home investment partnerships programA 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;(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 ServiceA 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 inspectionsWhen complying with inspection requirements for a housing unit located in a rural or small area using assistance under this subtitle, the Secretary may allow a grantee to conduct a remote or video inspection of a unit provided that the remote or video inspection—(I)covers a substantially similar review of the relevant aspects of the unit compared to an in-person inspection;(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 applicable standards.(v)Rule of constructionNothing in clause (i), (ii), (iii), or (iv) may be construed to affect the operation of a housing program described in, or authorized under a provision of law described in, that clause..IIIExpanding Manufactured and Affordable Housing Finance Opportunities301.Manufactured Housing Innovations(a)In generalSection 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 chassisSection 604(a) 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:(7)Standards for manufactured homes built without a permanent chassis(A)In generalThe Secretary shall issue revised standards for manufactured homes built without a permanent chassis and shall consult with the consensus committee in the development of such revised standards, using the process described in paragraph (4).(B)Creating final standardsThe Secretary shall, after consulting and conferring with the consensus committee, establish standards to include manufactured homes without a permanent chassis have—(i)a distinct label to be issued by the Secretary distinguishing manufactured homes 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, 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 standards and certificationsSection 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 standards and certifications(1)In general(A)Initial certificationSubject to subparagraph (B), not later than 1 year after the date of enactment of this subsection, a State shall submit to the Secretary an initial certification that the laws and regulations of the State—(i)treat a manufactured home without a chassis in parity with a manufactured home (as defined and regulated by the State); and(ii)subject a manufactured home without a permanent chassis to the same laws and regulations of the State as a manufactured home built on a permanent chassis with respect to financing, title, insurance, manufacture, sale, taxes, transportation, 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 submissionAny State plan submitted under subparagraph (C) shall contain the required State certification under subparagraph (A) or paragraph (3) and, if contained therein, no additional or State certification under subparagraph (A) or paragraph (3).(C)Extended deadlineWith 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 this subsection.(D)Late certification(i)No waiverThe 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 constructionNothing 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 planThe 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 recertificationNot 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)ListThe 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)DefinitionIn 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 this subsection.(B)Building, installation, and saleIf a State does not submit a certification under paragraph (1)(A) or paragraph (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 homesThe 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).(e)Assistance to StatesSection 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)PreemptionNothing 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)). (g) Primary authority To establish manufactured home construction and safety standards The National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5401 et seq.) is further amended— (1) in section 603(7), by inserting energy efficiency, after design,; and (2) in section 604, by adding at the end the following: (j) Primary authority To establish standards (1) In general The Secretary shall have the primary authority to establish Federal manufactured home construction and safety standards. (2) Approval from Secretary (A) In general The head of any Federal agency that seeks to establish a manufactured home construction and safety standard on or after the date of the enactment of this subsection— (i) shall submit to the Secretary a proposal describing such standard; and (ii) may not establish such standard without approval from the Secretary. (B) Rejection of standards The Secretary shall reject a standard submitted to the Secretary for approval under subparagraph (A)— (i) if the standard would significantly increase the cost of producing manufactured homes, as determined by the Secretary; (ii) if the standard would conflict with existing manufactured home construction and safety standards established by the Secretary; or (iii) for any other reason as determined appropriate by the Secretary. (C) Rule of construction Nothing in this subsection may be construed to require the Secretary to establish new or revised Federal manufactured home construction and safety standards. .

302.FHA small-dollar mortgages study(a)In generalNot later than 1 year after the date of the enactment of this section, the Secretary of Housing and Urban Development 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 about small-dollar mortgages that—(1)provides a proposal for a pilot program, to last not longer than 4 years, to increase access for individuals to small-dollar mortgages insured or guaranteed by the Secretary under title II of the National Housing Act to be established by the Federal Housing Administration that may include—(A)authorizing direct payments to lenders to incentivize the origination of small-dollar mortgages;(B)adjustments to the terms and costs the Federal Housing Administration requires with respect to such small-dollar mortgages;(C)providing direct grants for mortgagors obtaining such small-dollar mortgages to cover costs associated with—(i)down payments;(ii)closing costs;(iii)appraisals; and(iv)title insurance; and(D)technical assistance for lenders and financial institutions that originate such small-dollar mortgages and outreach to borrowers about the availability of such small-dollar mortgages;(2)provides a detailed analysis and projections about— (A) a methodology for tracking and evaluating the outcomes of small-dollar mortgages insured or guaranteed by the Secretary under title II of the National Housing Act to which access is provided through the pilot program, including the financial impact of such loans on the economic status of the mortgagors associated with such small-dollar mortgages; (B)potential risks of pilot program to the solvency of the Mutual Mortgage Insurance Fund; (C) the amount of appropriations required to cover the costs associated with insuring, guaranteeing, and modifying small-dollar mortgages over the length of the pilot program; and (D)the amount of appropriations necessary for the Secretary to administer and oversee the pilot program, including amounts to be used for information technology, financial reporting, research and evaluations, fair housing and fair lending compliance, audits, and for such other activities the Secretary determines necessary to increase access to small-dollar mortgages; and(3)includes data and analysis relating to small-dollar mortgages, including—(A)the number of small-dollar mortgages originated in the 10-year period preceding the date of the 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;(D)the number of financial institutions that offer small-dollar mortgages;(E)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(F)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.(b)DefinitionsIn this section:(1)Small-dollar mortgage definedThe term small-dollar mortgage means a mortgage that—(A)has an original principal balance of $100,000 or less; and(B)is secured by a 1- to 4-unit property that is the principal residence of the mortgagor.(2)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.IVProtecting Borrowers and Assisted Families401.Exclusion of certain disability benefits(a)In generalSection 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)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 may not apply to the definition of adjusted income;(v)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, except that this exclusion may not apply to the definition of adjusted income;. (b) Service-Connected disability compensation Section 102(a)(20) of the Housing and Community Development Act of 1974 (42 U.S.C. 5302(a)(20)) is amended by adding at the end the following: (C) Service-connected disability compensation When determining whether a person is a person of low and moderate income, a person of low income, or a person of moderate income under this paragraph, a State, unit of general local government, or Indian tribe shall exclude any service-connected disability compensation received by such person from the Department of Veterans Affairs. . (c)Treatment of certain disability benefitsWhen determining the eligibility of a veteran to rent a residential dwelling unit constructed on Department property on or after the date of the enactment of this Act, for which assistance is provided as part of a housing assistance program administered by the Secretary of Housing and Urban Development and not yet in existence at the time of the enactment of this section, 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.(d)ReportThe Comptroller General of the United States shall, not later than 1 year after the date of the enactment of this Act, submit to the Congress a report that—(1)examines how service-connected disability compensation is treated for the purposes of determining eligibility for all programs administered by the Secretary of Housing and Urban Development;(2)identifies any instances where service-connected disability compensation is treated in a manner inconsistent with the amendments made by subsections (a) and (b); and(3)with respect to each program administered by the Secretary of Housing and Urban Development in which service-connected disability compensation is treated inconsistently, provides legislative recommendations relating to how such program could better serve veteran populations, and under-served communities.(e)DefinitionsIn this section:(1)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(2)Department propertyThe term Department property has the meaning given the term in section 901 of title 38, United States Code.402.Military service question(a)In generalSubpart 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:1329.Uniform residential loan applicationNot 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 disclaimer below the military service question 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 studyNot 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 the 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). 403. HUD–USDA–VA Interagency Coordination (a) Memorandum of understanding 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 establish a memorandum of understanding, or other appropriate interagency agreement, to share relevant housing-related research and market data that facilitates evidence-based policymaking. (b) Interagency report (1) Report Not later than 1 year 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, the Committee on Agriculture, Nutrition, and Forestry, and the Committee on Veterans’ Affairs of the Senate and the Committee on Financial Services, the Committee on Agriculture, and the Committee on Veterans’ Affairs of the House of Representatives a report that describes opportunities for increased collaboration between the Secretary of Housing and Urban Development, the Secretary of Agriculture, and the Secretary of Veterans Affairs to improve efficiencies in housing programs. (2) Publication The report required under paragraph (1) shall, prior to submission, be published in the Federal Register and open for comment for a period of 30 days.

404.Family self-sufficiency escrow expansion pilot programTitle I of the of the United States Housing Act of 1937 (42 U.S.C. 1437 et seq.) is amended by adding at the end the following:39.Escrow expansion pilot program(a)DefinitionsIn this section:(1)Covered familyThe term covered family means a family that—(A)receives assistance under section 8 or 9 of this Act;(B)is enrolled in the pilot program; and(C)has an adjusted income that does not exceed 80 percent of the area median income at the time of enrollment in the pilot program.(2)Eligible entityThe term eligible entity means an entity described in subsection (c)(2) of section

23.(3)Pilot programThe term pilot program means the pilot program established under this section.(4)Welfare assistanceThe term welfare assistance has the meaning given the term in section 984.103 of title 24, Code of Federal Regulations, or any successor regulation.(b)Program establishmentThe Secretary shall, not later than 1 year after the date of the enactment of this section, 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.(c)Escrow accounts(1)In generalAn eligible entity selected to participate in the pilot program—(A)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(B)notwithstanding any other provision of law, may use existing 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.(2)WithdrawlsA covered family may withdraw funds, including any interest earned, from an escrow account established by an eligible entity under the pilot program for such covered family—(A)after the covered family ceases to receive welfare assistance; and(B)(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; or(v)under other circumstances in which the Secretary determines an exemption for good cause is warranted.(3)Interim recertificationFor the purposes of the pilot program established under this section, a covered family shall recertify income not less than once each year.(4)Contract or planA covered family may not be required by an eligible entity to complete a contract that requires the participation of the covered family in the pilot program established under this section or any individual training or services plan as a condition for participating in the pilot program.(d)Effect of increases in family incomeThe amount equal to any increase in the earned income of a covered family from the date of enrollment of the covered family in the pilot program established under this section through the date all funds are withdrawn from the escrow account may not be considered as income or a resource for purposes of eligibility of the covered family for other benefits, or amount of benefits payable to the family, under any program administered by the Secretary.(e)Application(1)In generalAn eligible entity seeking to participate in the pilot program shall submit to the Secretary an application—(A)at such time, in such manner, and containing such information as the Secretary may require by notice; and(B)that includes the number of covered families to which the eligible entity intends to provide escrow accounts under this subsection.(2)Geographic and entity varietyThe Secretary shall ensure that eligible entities selected to participate in the pilot program—(A)are located across various States and in both urban and rural areas; and(B)vary by size and type, including both public housing agencies and private owners of projects receiving project-based rental assistance under section 8. (f) Notification and opt-Out An eligible entity participating in the pilot program shall— (1) notify each covered family of their enrollment in the pilot program; (2) provide each covered family with a detailed description of the pilot program, including how the pilot program will impact their rent and finances; (3) inform each covered family that the family may not simultaneously participate in the pilot program and the Family Self-Sufficiency program under this section; and (4) provide each covered family with the ability to elect not to participate in the pilot program— (A) not less than 2 weeks before the date on which the escrow account is established under subsection (c); and (B) at any point during the duration of the pilot program. (g)Maximum rentsDuring 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.(h)Pilot program timeline(1)AwardsNot later than 18 months after the date of enactment of this subsection, the Secretary shall select the eligible entities to participate in the pilot program.(2)Establishment and terms of accountsAn eligible entity selected to participate in the pilot program shall—(A)not later than 6 months after selection, establish escrow accounts under subsection (c) for covered families; and(B)maintain those escrow accounts for not less than 5 years, 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.(i)Nonparticipation and housing assistance(1)In generalA family that elects not to participate in the pilot program may not be delayed or denied assistance under section 8 or 9 for reason of such election.(2)No terminationHousing assistance may not be terminated as a consequence of participating, or not participating, in the pilot program under this subsection for any period of time. (j) Study Not later than 8 years after the date the Secretary selects eligible entities to participate in the pilot program under this subsection, the Secretary shall 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 that participated in 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 services (this does not seem to be part of this pilot program), or the lack thereof, had on individual incomes. (k)WaiversTo 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.(l)TerminationThe pilot program established under this subsection shall terminate on the date that is 10 years after the date of enactment of this section..405.Reforms to housing counseling and financial literacy programs(a)In generalSection 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)Performance reviewThe Secretary—(A)may conduct periodic on-site reviews; and(B)shall conduct performance reviews of all participating agencies that—(i)consist of a review of the participating agency’s compliance with all program requirements; and(ii)may take into account the agency’s aggregate counselor performance under paragraph (7)(B).(7)Considerations(A)Covered mortgage loan definedIn this paragraph, the term covered mortgage loan means any loan which is secured by a first or subordinate lien on residential real property (including individual units of condominiums and cooperatives) designed principally for the occupancy of 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)ComparisonFor each counselor employed by an organization receiving assistance under this section for pre-purchase 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)CertificationIf, 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)permanently 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 generalThe 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)NoticeThe 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 conferenceIf 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 definedIn 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 borrowersA 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)CostIf 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))..406.Establishment of eviction helpline(a)In generalThe Secretary of Housing and Urban Development shall, not later than 1 year after the date of the enactment of this Act, establish a helpline to provide tenants of covered federally assisted rental dwelling units with counseling, resources, and referrals to available assistance relating to eviction-related matters.(b)DefinitionsIn this section:(1)AssistanceThe term assistance means any grant, loan, subsidy, contract, cooperative agreement, or other form of financial assistance, but such term does not include the insurance or guarantee of a loan, mortgage, or pool of loans or mortgages.(2)Covered federally assisted rental dwelling unitThe term covered federally assisted rental dwelling unit means a residential dwelling unit that—(A)is made available for rental; and(B)(i)for which assistance is provided, or that is part of a housing project for which assistance is provided, under any program administered by the Secretary of Housing and Urban Development, including—(I)the public housing program under the United States Housing Act of 1937 21 (42 U.S.C. 1437 et seq.);(II)the program for rental assistance under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f);(III)the HOME Investment Partnerships program under title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.);(IV)title IV of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11360 et seq.);(V)the Housing Trust Fund program under section 1338 of the Housing and Community Development Act of 1992 (12 U.S.C. 4568);(VI)the program for supportive housing for the elderly under section 202 of the Housing Act of 1959 (12 U.S.C. 1701q);(VII)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);(VIII)the AIDS Housing Opportunities program under subtitle D of title VIII of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12901 et seq.);(IX)the program for Native American housing under the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4101 et seq.); and(X)the program for housing assistance for Native Hawaiians under title VIII of the Native American Housing Assistance and Self-Determination Act of 1996 7 (25 U.S.C. 4221 et seq.); or(ii)is a property, or is on or in a property, that has a federally backed mortgage loan or federally backed multifamily mortgage loan, as 11 such terms are defined in section 4024(a) of the CARES Act (15 U.S.C. 9058(a)).407.Temperature Sensor Pilot Program(a)In generalThe Secretary of Housing and Urban Development shall establish a temperature sensor 3-year pilot program to provide grants to public housing agencies and owners of covered federally assisted rental dwelling units to install and test the efficacy of temperature sensors in residential dwelling units to ensure such units remain in compliance with temperature requirements.(b)Eligibility(1)In generalThe Secretary shall, not later than 180 days after the date of the enactment of this Act, establish eligibility criteria for participation in the pilot program established pursuant to subsection (a).(2)CriteriaIn establishing the eligibility criteria described in paragraph (a), 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 the temperature sensors that will be installed and tested using amounts awarded under this section, including internet connectivity requirements.(c)InstallationEach public housing agency or owner of a covered federally assisted rental dwelling unit that receives 1 or more temperature sensors under this section shall, after receiving written permission from 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 generalEach public housing agency or owner of a covered federally assisted rental dwelling unit that receives 1 or more temperature sensors under this section shall collect and retain information about temperature-related complaints and violations.(2)DefinitionsThe Secretary shall, not later than 180 days after the date of the enactment of this Act, define the terms temperature-related complaints and temperature-related violations for the purposes of this section.(e)Data collection(1)In generalData collected from temperature sensors provided to public housing agencies and owners of covered federally assisted rental dwelling units under this section shall be retained until the Secretary notifies the public housing agency or owner that the pilot program and the evaluation of the pilot program are complete.(2)Personally identifiable informationThe Secretary shall, not later than 180 days after the date of the 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 evaluationNot later than 12 months after the establishment of the pilot program under this section, the Secretary shall publicly publish and submit to the Congress a report that—(A)examines the number of temperature-related complaints and 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 evaluationNot later than 36 months after the conclusion of the pilot program established by the Secretary under this section, the Secretary shall publicly publish and submit to the Congress a report that—(A)examines the number of temperature-related complaints and 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)compare 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)DefinitionsFor the purposes of this section:(1)Temperature sensorThe term temperature sensor means an internet capable temperature reporting device able to measure ambient air temperature to the tenth degree Fahrenheit and Celsius.(2)Covered federally assisted housingThe 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).(3)OwnerThe 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 public housing program under the United States Housing Act of 1937 (42 U.S.C. 1437 et seq.), a public housing agency or an owner entity of public housing units as defined in section 905.108 of title 24, Code of Federal Regulations;(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 section 202(k)(4) of the Housing Act of 1959; 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 section 811(k)(5) of section 811 of the Cranston-Gonzalez National Affordable Housing Act.408.GAO studies(a)Report to CongressNot later than 1 year after the date of the enactment of this act, the Comptroller General of the United States carry out a study and submit to the 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; and(2)the program for supportive housing for persons with disabilities under section 811 of the Cranston-Gonzalez National Affordable Housing Act. (b) GAO study To determine proximity of housing to Superfund sites Not later than 1 year after the date of the enactment of this section, the Comptroller General of the United States shall carry out a study and submit to the Congress a report that identifies how many residential dwelling units, and how many dwelling units that are a part of public housing (as such term is defined in section 3(b) of the United States Housing Act of 1937 (42 U.S.C. 1437a(B))), are located less than one 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). VEnhancing Oversight of Housing Providers501.Requirement to testifySection 7 of the Department of Housing and Urban Development Act (42 U.S.C. 3535) is amended by adding at the end the following new subsection:(u)Annual testimonyThe Secretary shall appear before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate 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 sub-grantees 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..502.Disclosure requiredThe Secretary of Housing and Urban Development shall, not later than 1 year after the date of the enactment of this section, require each public housing agency (as such term is defined in section 3(b) of the United States Housing Act of 1937 (42 U.S.C. 1437a(b))) to publicly disclose, on the website of the public housing agency, with respect to each contract entered into by such public housing agency in the preceding year the following:(1)All material information about the contract, including the goods and service provided.(2)The vendor selected to receive the contract.(3)The date of the solicitation of the contract.(4)The bids and quotes solicited.(5)The name of official who solicited the contract.503.Investigation and report to Congress(a)InvestigationThe Inspector General of the Department of Housing and Urban Development shall conduct an investigation of the New York City Housing Authority, which shall include—(1)the status of the New York City Housing Authority’s compliance with the agreement entered into between the New York City Housing Authority, the Department of Housing and Urban Development, and the City of New York on January 31, 2019, including specific areas of deficiency and progress towards compliance;(2)a review of actions taken by the monitor of the New York City Housing Authority pursuant to such Agreement, including any gaps in oversight by the Monitor;(3)a survey of the physical conditions of housing provided by the New York City Housing Authority for residents of the City of New York;(4)an examination of any waste, fraud, abuse and violations of Federal law committed by employees or contractors of the New York City Housing Authority; and(5)information on other issues and areas, as deemed necessary and appropriate by the Inspector General of the Department of Housing and Urban Development.(b)ReportNot later than 180 days after the date of the enactment of this Act, the Inspector General of the Department of Housing and Urban Development 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 report that includes—(1)the results of the investigation conducted under subsection (a);(2)a summary of actions that the Department of Housing and Urban Development may take to compel the New York City Housing Authority to remedy any deficiencies; and(3)any other recommendations of the Inspector General of the Department of Housing and Urban Development.504.Federal monitor and receiver testimonyNot later than October 1 of each year, any Federal monitor or receiver that has provided oversight of a public housing agency (as such term is defined in section 3(b) of the United States Housing Act of 1937 (42 U.S.C. 1437a(b))) in the previous year shall appear before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate and present testimony on the ongoing management and oversight activities of the public housing agency by the Federal monitor or receiver.505.Annual testimonySection 203(a) of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11313(a)) is amended—(1)in paragraph (12) by striking and at the end;(2)in paragraph (13) striking the period at the end and inserting ; and; and(3)by adding at the end the following:(14)testify annually before the Committee on Banking, Housing, and Urban Affairs of the Senate..

117 HR 6644 PCS: Housing for the 21st Century Act U.S. House of Representatives 2026-02-24 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IICalendar No. 343119th CONGRESS2d SessionH. R. 6644IN THE SENATE OF THE UNITED STATESFebruary 11, 2026ReceivedFebruary 23, 2026Read the first timeFebruary 24, 2026Read the second time and placed on the calendarAN ACTTo increase the supply of housing in America, and for other purposes.1.Short title; table of contents(a)Short titleThis Act may be cited as the Housing for the 21st Century Act. (b)Table of contentsThe table of contents for this Act is as follows:Sec. 1. Short title; table of contents.Title I—Building Smarter for the 21st CenturySec. 101. Housing Supply Frameworks.Sec. 102. Accelerating home building grant program.Sec. 103. Federal guidelines for point-access block buildings.Sec. 104. Unlocking Housing Supply Through Streamlined and Modernized Reviews.Sec. 105. Federal Housing Agency Application of Environmental Reviews.Sec. 106. Multifamily loan limits.Sec. 107. GAO study on workforce housing.Title II—Modernizing Local Development and Rural Housing ProgramsSec. 201. HOME Reform.Sec. 202. Community Development Fund Amendments.Sec. 203. Grants for planning and implementation associated with affordable housing.Sec. 204. Rural housing service program improvements.Sec. 205. Choice in Affordable Housing.Title III—Expanding Manufactured and Affordable Housing Finance OpportunitiesSec. 301. Manufactured Housing Innovations.Sec. 302. FHA small-dollar mortgages.Sec. 303. Community investment and prosperity.Title IV—Protecting Borrowers and Assisted FamiliesSec. 401. Exclusion of certain disability benefits.Sec. 402. Military service question.Sec. 403. HUD–USDA–VA Interagency Coordination.Sec. 404. Family self-sufficiency escrow expansion pilot program.Sec. 405. Reforms to housing counseling and financial literacy programs.Sec. 406. Establishment of eviction helpline.Sec. 407. Temperature Sensor pilot program.Sec. 408. GAO studies.Title V—Enhancing Oversight of Housing ProvidersSec. 501. Requirement to testify.Sec. 502. Improving public housing agency accountability.Title VI—Strengthening Community Banks’ Role in HousingSec. 601. Community Bank Deposit Access.Sec. 602. Keeping Deposits Local.Sec. 603. Supervisory Modifications for Appropriate Risk-based Testing.Sec. 604. Tailored Regulatory Updates for Supervisory Testing.Sec. 605. Credit Union Board Modernization.Sec. 606. Systemic Risk Authority Transparency.Sec. 607. Least cost exception.Sec. 608. Failing Bank Acquisition Fairness.Sec. 609. Advancing the Mentor-Protégé Program for Small Financial Institutions.Sec. 610. American Access to Banking.Sec. 611. Promoting New Bank Formation.Sec. 612. Rural Depositories Revitalization Study.Sec. 613. Discretionary Surplus Fund.IBuilding Smarter for the 21st Century101.Housing Supply Frameworks(a)DefinitionsIn this section:(1)Affordable housingThe 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 SecretaryThe term Assistant Secretary means the Assistant Secretary for Policy Development and Research of the Department of Housing and Urban Development.(3)Local zoning frameworkThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(5)State zoning frameworkThe 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 generalNot 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 commentDuring 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)ContentsThe 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;(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 generalThe 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)RepealSection 1205 of the Housing and Community Development Act of 1992 (42 U.S.C. 12705d) is repealed.(d)ReportingNot 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 the Congress a report describing—(1)the States that have adopted recommendations from the guidelines and best practices, pursuant to section 4 of this Act;(2)a summary of the localities that have adopted recommendations from the guidelines and best practices, pursuant to section 4 of this Act;(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 constructionNothing 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 (c).

102.Accelerating home building grant program(a)In generalThe Secretary may establish a pilot program to award grants to eligible entities to review designs of covered structures of mixed-income housing and designate such reviewed designs to be included in pattern books for use in the jurisdiction of the eligible entity.(b)RestrictionAmounts awarded under this section may not be used for construction, alteration, or repair work.(c)ConsiderationsIn reviewing applications submitted by eligible entities for a grant under this section, the Secretary shall consider—(1)the need for affordable housing in the eligible entity;(2)the presence of high opportunity areas in 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 areasOf the amounts 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)Report requirementNot later than 3 years after being awarded a grant under this section, an eligible entity shall submit to the Secretary a report that—(1)describes the impacts of the activities carried out using the amounts provided under this section on improving the production and supply of affordable housing;(2)includes a list of any pattern books the eligible entity has established using amounts provided under this section, including a description of the designs such pattern book includes;(3)identifies the number of permits issued by the eligible entity for housing development using designs from such pattern book; and(4)identifies the number of housing units produced in developments of the eligible entity using a design from such pattern book.(f)Availability of informationThe Secretary shall—(1)to the extent possible, encourage eligible entities awarded grants under this section to make any pattern books established by such entity, and designs in such pattern book, publicly available through a website; and(2)collect, identify, and disseminate best practices relating to pattern books and make such information publicly available on a website of the Department of Housing and Urban Development.(g)Repayment of awarded amountsThe Secretary may require an eligible entity to return, to the Secretary, grant amounts awarded under this section if the Secretary determines that the eligible entity has not approved a sufficient number of building permits that use designs included in a pattern book established by the eligible entity, during the 5-year period following receipt of the grant by the eligible entity, unless such period is extended by the Secretary.(h)SunsetThe pilot program established under this section shall terminate on the date that is 7 years after the date of the enactment of this section.(i)DefinitionsIn this section:(1)Affordable housingThe 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 structureThe term covered structure means a low-rise or mid-rise structure with not more than 25 dwelling units that may include—(A)an accessory dwelling unit;(B)infill development;(C)a duplex;(D)a triplex;(E)a fourplex;(F)a cottage court;(G)a courtyard building;(H)a townhouse;(I)a multiplex; and(J)any other structure with not less than 2 dwelling units that the Secretary has determined in advance to be appropriate.(3)Eligible entityThe 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)); and(B)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 areaThe 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 developmentThe term infill development means a residential housing development on small parcels in previously established areas for replacement by new or refurbished housing that utilizes existing utilities and infrastructure.(6)Mixed-income housingThe term mixed-income housing means a housing development that is comprised of housing units that promote differing levels of affordability in the community.(7)Pattern bookThe term pattern book means a set of pre-reviewed, designated designs or construction plans that are assessed and approved as by-right development by localities for compliance with local building and permitting standards to streamline and expedite approval pathways for housing construction.(8)Rural areaThe term rural area means any area other than a city or town that has a population of less than 50,000 inhabitants.(9)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.103.Federal guidelines for point-access block buildings(a)In generalNot 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)ContentsWhen developing the guidelines under subsection (a), the Secretary 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;(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 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 CouncilThe Secretary 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 generalThe Secretary 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)SunsetThe program established under paragraph (1) shall terminate on the date that is 7 years after the date of the enactment of this subsection.(e)Rule of constructionNothing in this section may be construed to preempt a State or local building code.(f)DefinitionsIn this section:(1)Eligible entityThe 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 buildingThe 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.104.Unlocking Housing Supply Through Streamlined and Modernized Reviews(a)NEPA streamlining for HUD housing-related activities(1)In generalThe Secretary of Housing and Urban Development shall, in accordance with section 553 of title 5, United States Code, 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, as defined in section 8(o) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)).(ii)Supportive services, including health care, housing services, permanent housing placement, day care, nutritional services, short-term payment 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 homebuyers to purchase 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 homeowner or renter assistance for HVAC, hot water heaters, and other necessary uses of 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 sections 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 on up to 4 scattered site existing dwelling units where there is a maximum of 4 units on any 1 site.(IV)Acquisitions (including leasing) or 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 sections 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—(aa)a maximum number of units to be determined by the Secretary; and(bb)a limitation on the change in building size to not more than 20-percent.(III)New construction, development, demolition, acquisition, or disposition on 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 on 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)Buyouts, defined as the voluntary acquisition of properties located in—(aa)a floodway;(bb)a floodplain; or(cc)an other area, clearly delineated by the grantee, that has been impacted by a predictable environmental threat to the safety and wellbeing of program beneficiaries caused or exacerbated by a federally declared disaster.(2)ReportThe 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 annual reports during the 5-year period beginning on the date that is 2 years after the date of enactment of this Act that provide 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 subsection, 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.(b)Better Use of Intergovernmental and Local Development for Housing(1)Designation of environmental review procedureThe 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:13.Designation of environmental review procedure(a)In generalExcept 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).(b)ExceptionThe 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..(2)Tribal assumption of environmental review obligationsSection 305(c) of the Multifamily Housing Property Disposition Reform Act of 1994 (42 U.S.C. 3547) is amended—(A)by striking State or unit of general local government each place it appears and inserting State, Indian Tribe, or unit of general local government;(B)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(C)by adding at the end the following:(5)Definition of Indian TribeFor 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)ApplicabilityAny activity generated under subsections (a) or (b) would be subject to an authorization of appropriations.(d)Infill project definedIn this section, the term infill project means a project that—(1)occurs within the geographic limits of a municipality;(2)is adequately served by existing utilities and public services as required under applicable law;(3)is located on a site of previously disturbed land of not more than 5 acres and substantially surrounded by residential or commercial development;(4)will repurpose a vacant or underutilized parcel of land, or a dilapidated or abandoned structure; and(5)will serve a residential or commercial purpose.105.Federal Housing Agency Application of Environmental Reviews(a)Memorandum of understanding(1)In generalNot 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—(A)evaluate the use of categorical exclusions (as defined in section 111 of the National Environmental Policy Act of 1969 (42 U.S.C. 4336e)) for housing projects funded by amounts from the Department of the Housing and Urban Development and the Department of Agriculture;(B)develop a process to designate a lead agency among the Department of Housing and Urban Development and the Department of Agriculture to streamline the adoption of environmental impact statements and environmental assessments approved by the other agency to construct housing projects funded by amounts from both agencies;(C)maintain compliance with environmental regulations under part 58 of title 24, Code of Federal Regulations, as in effect on January 1, 2025; and(D)evaluate the feasibility of a joint physical inspection process for housing projects funded by amounts from the Department of the Housing and Urban Development and the Department of Agriculture.(2)ReportNot 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—(A)to improve the efficiency and effectiveness of housing projects funded by amounts from the Department of the Housing and Urban Development and the Department of Agriculture; and(B)that do not materially, with respect to residents of housing projects described in subparagraph (A)—(i)reduce the safety of those residents;(ii)shift long-term costs onto those residents; or(iii)undermine the environmental standards of those residents.(b)Study and Review(1)ExemptionIn 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.(2)ReportNot 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—(A)determines whether the implementation of this section—(i)reduced the amount of time it takes to review an application for assistance under the sections of the Housing Act of 1949 identified in paragraph (1); and(ii)reduced the administrative cost of providing such assistance;(B)describes how the implementation of this section affects the affordable housing sector in rural America; and(C)includes any legislative recommendations from the Secretary of Agriculture.(2)DefinitionsIn this section:(A)GreenfieldThe term greenfield means a site that has not been developed, including a woodland, farmland, and an open field.(B)Infill siteThe term infill site—(i)means a site that is served by existing infrastructure, including water lines, sewer lines, and roads; and(ii)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.106.Multifamily loan limits(a)In generalTitle 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 January 1, 2026. 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 calculated 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 striking subsection (b) and inserting the following:(b)RoundingThe dollar amount of any adjustment described in subsection (a) shall be rounded to the next lower dollar. (c)PublicationThe Secretary shall publish in the Federal Register any adjustments made to the Dollar Amounts.;(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 constructionNothing 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.107.GAO study on workforce housing(a)In generalNot later than 1 year after the date of the enactment of this section, the Comptroller General of the United States shall conduct a study and submit to the Congress a report that—(1)identifies obstacles middle-income households face when looking to secure affordable housing;(2)identifies geographic areas where housing is the most unaffordable and unavailable for middle-income households;(3)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;(4)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 such middle-income households in Federal housing programs if funding commensurate with the additional eligibility were to be made available; and(5)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)Middle-income household definedIn this section, 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 with adjustments for smaller and larger families.IIModernizing Local Development and Rural Housing Programs201.HOME Reform(a)In generalSection 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704) is amended—(1)in paragraph (6)(B), by striking significant; and(2)by adding at end the following new paragraph:(26)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..(b)Assistance for low-Income familiesTitle II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.) is amended—(1)in section 214(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;(2)in section 215—(A)in subsection (b)(2), 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; and(B)in subsection (b)(3)(A)(ii), by striking low-income homebuyers and inserting homebuyers 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(3)in section 271(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.(c)Choices made by participating jurisdictionsSection 212(a)(2) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12742) is amended to read as follows:(2)LimitationThe Secretary may not restrict a participating jurisdiction’s choice of rehabilitation, substantial rehabilitation, new construction, reconstruction, acquisition, or other eligible housing uses authorized in paragraph (1) unless such restriction is explicitly authorized under section 223(2)..(d)Use of amounts by certain jurisdictions for infrastructure improvements(1)In generalSection 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 generalA 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; 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 standardsThe 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 constructionNothing 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)RulemakingNot later than 1 year after the date of the enactment of this section, the Secretary shall issue rules to carry out the amendment made by paragraph (1).(e)Per unit investment limitationsSection 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.(f)Affordable rental housing qualificationsSection 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 ExceptionNotwithstanding 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 tenant’s contribution toward rent does not exceed the amount permitted under such section 8 assistance; and(C)the total rent for the unit does not exceed the amount approved by the public housing agency administering the assistance under that program..(g)Affordable homeownership housing qualificationsSection 215 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12745(b)) is amended—(1)in subsection (b)—(A)in paragraph (1), by striking 95 percent and inserting 110 percent;(B)in paragraph (3)—(i)in subparagraph (A)(ii), by striking or at the end;(ii)in subparagraph (B), by striking and at the end and inserting or; and(iii)by adding at the end the following new subparagraph:(C)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 homebuyers 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; and; and(2)by adding at the end the following:(c)Qualification exceptions for homeownership(1)Military membersA participating jurisdiction, in accordance with terms established by the Secretary, may suspend or waive the income qualifications described in subsection (b)(2) with respect to housing that otherwise meets the criteria described in subsection (b) 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(d) 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 ownersHousing that meets the criteria described in subsection (b)(3) 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..(h)Elimination of expiration of right to draw home investment trust fundsSection 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).(i)Adjusted recapture and reuse of set-aside for community housing developmental organizationsSection 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 reuseIf 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 title II of this Act without regard to whether a community housing development organization materially participates in the use of such funds..(j)Asset recycling information dissemination expansionSection 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.(k)Environmental review requirements(1)In generalSection 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 exemptionsThe 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); and(4)new construction projects of 15 units or less.(f)Removing duplicative reviews(1)In generalTo 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 responsibilitiesThe Secretary shall, by regulation, provide for coordination of environmental review responsibilities with other Federal agencies to streamline inter-agency 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 entitiesA 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)RulemakingNot 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)ApplicabilityAny activity generated under this subsection would be subject to an authorization of appropriations.(l)Application of Build America, Buy America requirements for HOME Investment Partnerships Program(1)In generalNot later than 180 days after the date of the enactment of this section, the Secretary of Housing and Urban Development 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 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 guidanceNot 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)ReportNot later than 270 days after the date of the enactment of this section, 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).(m)Application of other specified statutory requirementsTitle 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 new section (and by conforming the table of sections in section 1(b), accordingly):291.Nonapplicability of certain requirements for small projectsNotwithstanding 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 50 or fewer..(n)Technical amendmentsThe 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 it appears and inserting McKinney-Vento Homeless Assistance Act; and(2)by striking Committee on Banking, Finance and Urban Affairs each place it appears and inserting Committee on Financial Services.(o)Reallocation not available for certain jurisdictionsSection 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 jurisdictionsThe 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 housingSection 215(a) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12745(a)) is amended—(1)in paragraph (1)(E), 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; and(2)by adding at the end the following:(8)Small-scale housing(A)In generalSmall-scale housing shall qualify as affordable housing under this title if—(i)each dwelling unit in such housing bears rent in an amount that complies with the requirements described in paragraph (1)(A);(ii)each dwelling unit in such housing is occupied by a low-income family;(iii)no dwelling unit in such 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 such voucher;(iv)such housing complies with the requirement described in paragraph (1)(E); and(v)the participating jurisdiction in which such small-scale housing is located monitors the compliance of such housing with the requirements of this title in a manner consistent with the purposes of section 226(b), as determined by the Secretary.(B)Small-scale housing definedIn this paragraph, the term small-scale housing means housing with not more than 4 dwelling units each of which is made available for rental. .(q)Tenant and participant protections for small-scale affordable housingSection 225 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12755) is amended by adding at the end the following:(e)ExceptionParagraphs (2), (3), and (4) shall not apply to small-scale housing, as such term is defined in section 215(a)(7)..(r)Revision of definition of community land trustSection 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704) is amended by adding at the end the following:(27)The term community land trust means a nonprofit entity, a State, a unit of local government or 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 homeownership; 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)Conforming amendmentsThe Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12701 et seq.) is amended—(1)in section 233 by striking subsection (f); and(2)in section 233(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). (t)Minimum allocationsSection 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;(B)by striking that are allocated an amount less than $500,000 and inserting that are allocated an amount less than $750,000; and (C)by striking , except as provided in paragraph (4); and(3)by striking paragraph (4).(u)Additional technical correctionsThe Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12701 et seq.) is amended—(1)in section 108(a)(1), by striking section 105(b)(15) and inserting section 105(b)(18); and(2)in section 217(b)(1)(F), by striking Subcommittee on Housing and Community Development and inserting Subcommittee on Housing, Transportation, and Community Development.202.Community Development Fund Amendments(a)Identifying Regulatory Barriers to Housing SupplySection 104 of the Housing and Community Development Act of 1974 (42 U.S.C. 5304) is amended by adding at the end the following:(n)Plan to track and reduce overly burdensome land use policies(1)In generalBeginning 1 year after the date of the enactment of this subsection, prior to receipt in any fiscal year of a grant from the Secretary under subsection (b), (d)(1), or (d)(2)(B) of section 106, each recipient shall have prepared and submitted, not less frequently than once during the preceding 5-year period, a description of—(A)whether the jurisdiction served by the recipient has adopted any of the types of land use policies described in paragraph (2) during the preceding 5-year period;(B)the plans the jurisdiction served by the recipient has to adopt and implement any of the types of land use policies described in paragraph (2); and(C)any ways in which the jurisdiction served by the recipient expects the planned adoption of any of the types of land use policies described in paragraph (2) would benefit the jurisdiction.(2)Types of land use policiesThe types of policies to be considered for the purposes of the submission of information required under paragraph (1) include the following: (A)Expanding by-right multifamily zoned areas.(B)Allowing duplexes, triplexes, or fourplexes in areas zoned primarily for single-family residential homes.(C)Allowing manufactured homes in areas zoned primarily for single-family residential homes.(D)Allowing multifamily development in retail, office, and light manufacturing zones.(E)Allowing single-room occupancy development wherever multifamily housing is allowed.(F)Reducing minimum lot size.(G)Ensuring historic preservation requirements and other land use policies or requirements are coordinated to encourage creation of housing in historic buildings and historic districts.(H)Increasing the allowable floor area ratio by allowing a higher ratio of total floor area in a building in comparison to its lot size.(I)Creating transit-oriented development zones.(J)Streamlining or shortening permitting processes and timelines, including through one-stop and parallel-process permitting.(K)Eliminating or reducing off-street parking requirements.(L)Ensuring impact and utility investment fees accurately reflect required infrastructure needs and related impacts on housing affordability are otherwise mitigated.(M)Allowing off-site construction, including prefabricated construction.(N)Reducing or eliminating minimum unit square footage requirements.(O)Allowing the conversion of office units to apartments.(P)Allowing the subdivision of single-family homes into duplexes.(Q)Allowing accessory dwelling units, including detached accessory dwelling units, on all lots with single-family homes.(R)Establishing density bonuses.(S)Eliminating or relaxing residential property height limitations.(T)Using property tax abatements to enable higher density and mixed-income communities.(U)Donating vacant land for affordable housing development.(V)Enacting other relevant high-density, single-family, and multifamily zoning policies that the recipient chooses to report.(3)Effect of submissionA submission under this subsection shall not be binding with respect to the use or distribution of amounts received under section

106.(4)Acceptance or nonacceptance of planThe acceptance or nonacceptance of any plan submitted under this subsection in which the information required under this subsection is provided may not be considered an endorsement or approval of the plan, policies, or methodologies, or lack thereof.(5)Prohibition on use of information for enforcementInformation provided by a recipient to the Secretary under this subsection may not be used as the basis for any enforcement action..(b)Addition of affordable housing construction as an eligible activity(1)Eligible activitySection 105(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(a)) is amended—(A)in paragraph (25)(D), by striking and at the end;(B)in paragraph (26), by striking the period at the end and inserting ; and; and(C)by adding at the end the following new paragraph:(27)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..(2)Low- and moderate-income requirementSection 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.(3)ApplicabilityThe amendments made by this subsection shall apply with respect only to amounts appropriated after the date of the enactment of this Act.(c)Databases of publicly owned land(1)In generalSection 104(b) of the Housing and Community Development Act of 1974 (42 U.S.C. 5304(b)) is amended—(A)in paragraph (5), by striking and at the end;(B)in paragraph (6), by striking the period at the end and inserting ; and; and(C)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..(2)Effective dateThe amendments made by this subsection shall take effect on October 1, 2026.203.Grants for planning and implementation associated with affordable housing(a)In generalThe Secretary of Housing and Urban Development shall, not later than 1 year after the date of the enactment of this section, establish a pilot program to award grants on a competitive basis to eligible entities to assist planning and implementation activities associated with affordable housing.(b)Use of amounts(1)By regional planning agenciesIf an eligible entity that receives amounts under this section is a regional planning agency or consortia of regional planning agencies, such eligible entity shall use such 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 countiesIf an eligible entity that receives amounts under this section is a State, insular area, metropolitan city, or urban county, such eligible entity shall use such 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 costsA eligible entity that receives amounts under this section may not use more than 10-percent of such amounts for administrative costs.(c)CoordinationTo the extent practicable, the Secretary shall coordinate with the Federal Transit Administrator in carrying out this section.(d)Additional uses of amounts(1)Housing constructionExpenditures on new construction of housing shall be an eligible expense under this section.(2)Buildings for general conduct of governmentExpenditures on building for the general conduct of government, other than the Federal Government, shall be eligible under this section when necessary and appropriate as a part of a natural hazard mitigation project.(e)Expiration of authorityAfter the expiration of the 5-year period beginning on the date of the enactment of this section, the Secretary may not newly establish a pilot program as described in this section.(f)SunsetThe pilot program established under this section shall terminate on the date that is 5 years after the date of the enactment of this section.(g)DefinitionsIn this subsection:(1)Eligible entityThe term eligible entity means—(A)a State, insular area, metropolitan city, or urban county, as such terms are defined in section 102 of the Housing and Community Development Act of 1974; or(B)a regional planning agency or consortia of regional planning agencies.(2)Housing planThe 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 strategyThe term housing strategy means a housing strategy required under section 105 of the Cranston-Gonzalez National Affordable Housing Act.204.Rural housing service program improvements(a)In generalSection 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.(b)Annual report on rural housing programsTitle 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:545.Annual report(a)In generalThe 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 and publish on a website of the Department of Agriculture an annual report on the rural housing programs carried out under this title.(b)ContentsThe report required under subsection (a) shall include significant details on the information about the health of the programs carried out by the Rural Housing Service, including—(1)raw data about loan performance that can be sorted by program and region;(2)a description of the housing stock of such programs;(3)information about why properties end participation in such programs, including maturation prepayment, foreclosure, or other servicing issues; and(4)risk ratings for properties assisted under such programs.(c)Protection of informationData included in a report required under subsection (a) may be aggregated or anonymized to protect the financial information and personal information of program participants..(c)Application review(1)Sense of CongressIt is the sense of the 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 generalNot 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 that—(i)details the timeliness of eligibility determinations and final determinations with respect to applications under section 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)includes recommendations to shorten the timeline for notifications of eligibility determinations described in subparagraph (A) to not more than 90 days.(B)Date describedThe date described in this paragraph 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.(d)GAO report on Rural Housing Service technologyNot later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to the 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;(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.205.Choice in Affordable Housing(a)Preapproval of unitsSection 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)DefinitionIn 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 inspectionUpon 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 family assisted under this subsection.(III)EffectAn inspection conducted under subclause (II) that determines that the dwelling unit meets the housing quality standards under subparagraph (B) shall satisfy the requirements in this subparagraph and subparagraph (C) if the new landlord enters into a lease agreement with a family assisted under this subsection not later than 60 days after the date of the inspection.(IV)Information when family is selectedWhen 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)..(b)Satisfaction of inspection requirements through participation in other housing programsSection 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 buildingsA 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 financed by a person who received a low-income housing tax credit under section 42 of the Internal Revenue Code of 1986 in exchange for that financing;(II)the dwelling unit was physically inspected and passed inspection as part of the low-income housing tax credit 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).(ii)Home investment partnerships programA 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;(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 ServiceA 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 inspectionsWhen complying with inspection requirements for a housing unit located in a rural or small area using assistance under this subtitle, the Secretary may allow a grantee to conduct a remote or video inspection of a unit provided that the remote or video inspection—(I)covers a substantially similar review of the relevant aspects of the unit compared to an in-person inspection;(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 applicable standards.(v)Rule of constructionNothing in clause (i), (ii), (iii), or (iv) may be construed to affect the operation of a housing program described in, or authorized under a provision of law described in, that clause..IIIExpanding Manufactured and Affordable Housing Finance Opportunities301.Manufactured Housing Innovations(a)In generalSection 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 chassisSection 604(a) 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:(7)Standards for manufactured homes built without a permanent chassis(A)In generalThe Secretary shall issue revised standards for manufactured homes built without a permanent chassis and shall consult with the consensus committee in the development of such revised standards, using the process described in paragraph (4). (B)Creating final standardsThe Secretary shall, after consulting and conferring with the consensus committee, establish standards to ensure manufactured homes without a permanent chassis have— (i)a distinct label to be issued by the Secretary distinguishing manufactured homes 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, 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 standards and certificationsSection 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 standards and certifications(1)In general(A)Initial certificationSubject to subparagraph (B), not later than 1 year after the date of enactment of this subsection, a State shall submit to the Secretary an initial certification that the laws and regulations of the State—(i)treat a manufactured home without a chassis in parity with a manufactured home (as defined and regulated by the State); and(ii)subject a manufactured home without a permanent chassis to the same laws and regulations of the State as a manufactured home built on a permanent chassis with respect to financing, title, insurance, manufacture, sale, taxes, transportation, 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 submissionAny State plan submitted under section 623(c) of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5422(c)) shall contain the required State certification under subparagraph (A) or paragraph (3) and, if contained therein, no additional or State certification under subparagraph (A) or paragraph (3).(C)Extended deadlineWith 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 this subsection.(D)Late certification(i) No waiverThe 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 constructionNothing 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 planThe 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 recertificationNot 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)ListThe 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)DefinitionIn 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 this subsection.(B)Building, installation, and saleIf a State does not submit a certification under paragraph (1)(A) or paragraph (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 homesThe Secretary of Housing and Urban Development may coordinate with the heads of other Federal agencies to ensure that Federal agencies treat a manufactured home (that is 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 (that is 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.(e)Assistance to StatesSection 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)PreemptionNothing 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)).(g)Primary authority to establish manufactured home construction and safety standardsThe National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5401 et seq.) is further amended—(1)in section 603(7), by inserting energy efficiency, after design,; and(2)in section 604, by adding at the end the following:(j)Primary authority to establish standards(1)In generalThe Secretary shall have the primary authority to establish Federal manufactured home construction and safety standards.(2)Approval from Secretary(A)In generalThe head of any Federal agency that seeks to establish a manufactured home construction and safety standard on or after the date of the enactment of this subsection—(i)shall submit to the Secretary a proposal describing such standard; and(ii)may not establish such standard without approval from the Secretary.(B)Rejection of standardsThe Secretary shall reject a standard submitted to the Secretary for approval under subparagraph (A)—(i)if the standard would significantly increase the cost of producing manufactured homes, as determined by the Secretary;(ii)if the standard would conflict with existing manufactured home construction and safety standards established by the Secretary; or(iii)for any other reason as determined appropriate by the Secretary.(C)Rule of constructionNothing in this subsection may be construed to require the Secretary to establish new or revised Federal manufactured home construction and safety standards. .302.FHA small-dollar mortgages(a)In generalNot 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)ReportBeginning 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 the 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 the 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)SunsetThe 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 authorityAfter 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 definedThe 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.303.Community investment and prosperity(a)Revised statutesThe 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 it appears and inserting

20.(b)Federal Reserve ActSection 9(23) of the Federal Reserve Act (12 U.S.C. 338a) is amended, in the fifth sentence, by striking 15 each place it appears and inserting

20.(c)StudyNot later than 2 years after the date of the 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 and State member banks under section 9(23) of the Federal Reserve Act 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 less 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 less 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; or(B)in the case of a report by the Board of Governors, section 9(23) of the Federal Reserve Act.IVProtecting Borrowers and Assisted Families401.Exclusion of certain disability benefits(a)In generalSection 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)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 may not apply to the definition of adjusted income;(v)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, except that this exclusion may not apply to the definition of adjusted income; .(b)Treatment of certain disability benefitsWhen determining the eligibility of a veteran to rent a residential dwelling unit constructed on Department property on or after the date of the enactment of this Act, for which assistance is provided as part of a housing assistance program administered by the Secretary of Housing and Urban Development and not yet in existence at the time of the enactment of this section, 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.(c)Department property definedIn this section, the term Department property has the meaning given the term in section 901 of title 38, United States Code.402.Military service question(a)In generalSubpart 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:1329.Uniform residential loan applicationNot 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 studyNot 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 the 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).403.HUD–USDA–VA Interagency Coordination(a)Memorandum of understandingNot 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 establish a memorandum of understanding, or other appropriate interagency agreement, to share relevant housing-related research and market data that facilitates evidence-based policymaking.(b)Interagency report(1)ReportNot later than 1 year 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, the Committee on Agriculture, Nutrition, and Forestry, and the Committee on Veterans’ Affairs of the Senate and the Committee on Financial Services, the Committee on Agriculture, and the Committee on Veterans’ Affairs of the House of Representatives a report that describes opportunities for increased collaboration between the Secretary of Housing and Urban Development, the Secretary of Agriculture, and the Secretary of Veterans Affairs to improve efficiencies in housing programs.(2)PublicationThe report required under paragraph (1) shall, prior to submission, be published in the Federal Register and open for comment for a period of 30 days.404.Family self-sufficiency escrow expansion pilot programTitle I of the United States Housing Act of 1937 (42 U.S.C. 1437 et seq.) is amended by adding at the end the following:39.Escrow expansion pilot program(a)DefinitionsIn this section:(1)Covered familyThe term covered family means a family that—(A)receives assistance under section 8 or 9 of this Act;(B)is enrolled in the pilot program; and (C)has an adjusted income that does not exceed 80-percent of the area-median income at the time of enrollment in the pilot program.(2)Eligible entityThe term eligible entity means an entity described in subsection (c)(2) of section

23.(3)Pilot programThe term pilot program means the pilot program established under this section.(4)Welfare assistanceThe term welfare assistance has the meaning given the term in section 984.103 of title 24, Code of Federal Regulations, or any successor regulation.(b)Program establishmentThe Secretary shall, not later than 1 year after the date of the enactment of this section, 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 a total of 5,000 covered families, in accordance with this section.(c)Escrow accounts(1)In generalAn eligible entity selected to participate in the pilot program—(A)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 family during the participation of such covered family in the pilot program; and(B)notwithstanding any other provision of law, may use existing funds made available to such entity at any time under section 8 or 9 for the purposes of making the escrow deposit for a covered family assisted under, or residing in a unit assisted under, section 8 or 9 provided that such amounts are offset by the increase in the amount of rent paid by the covered family.(2)WithdrawalsA covered family may withdraw funds, including any interest earned, from an escrow account established by an eligible entity under the pilot program for such covered family—(A)after the covered family ceases to receive welfare assistance; and(B)(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; or(v)under other circumstances for good cause as determined by the Secretary.(3)Interim recertificationFor the purposes of the pilot program established under this section, a covered family shall recertify the income of such family not less than once each year.(4)Contract or planAn eligible entity may not require a covered family to—(A)complete a contract that requires the participation of the covered family in the pilot program established under this section; or(B)participate in any individual training or services plan as a condition for participating in the pilot program.(d)Effect of increases in family incomeThe amount equal to any increase in the earned income of a covered family from the date of enrollment of the covered family in the pilot program established under this section through the date all funds are withdrawn from the escrow account established for such family under this section may not be considered as income or a resource for purposes of eligibility of the covered family for other benefits, or amount of benefits payable to the family, under any program administered by the Secretary.(e)Application(1)In generalAn eligible entity seeking to participate in the pilot program shall submit to the Secretary an application—(A)at such time, in such manner, and containing such information as the Secretary may require by notice; and(B)that includes the number of covered families to which the eligible entity intends to provide escrow accounts under this section.(2)Geographic and entity varietyThe Secretary shall ensure that eligible entities selected to participate in the pilot program—(A)are located across various States and in both urban and rural areas; and(B)vary by size and type, including both public housing agencies and private owners of projects receiving project-based rental assistance under section

8.(f)Notification and opt-outAn eligible entity participating in the pilot program shall—(1)notify each covered family of their enrollment in the pilot program;(2)provide each covered family with a detailed description of the pilot program, including how the pilot program will impact their rent and finances;(3)inform each covered family that the family may not simultaneously participate in the pilot program and the Family Self-Sufficiency program under this section; and(4)provide each covered family with the ability to elect not to participate in the pilot program—(A)not less than 2 weeks before the date on which the escrow account is established under subsection (c); and(B)at any point during the duration of the pilot program.(g)Maximum rentsDuring 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 section 3 or 8(o), as applicable.(h)Pilot program timeline(1)AwardsNot later than 18 months after the date of enactment of this section, the Secretary shall select the eligible entities to participate in the pilot program.(2)Establishment and terms of accountsAn eligible entity selected to participate in the pilot program shall—(A)not later than 6 months after selection, establish escrow accounts under subsection (c) for covered families; and(B)maintain those escrow accounts for not less than 5 years, 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.(i)Nonparticipation and housing assistance(1)In generalA family that elects not to participate in the pilot program may not be delayed or denied assistance under section 8 or 9 for reason of such election.(2)No terminationHousing assistance may not be terminated as a consequence of participating, or not participating, in the pilot program under this section for any period of time.(j)StudyNot later than 8 years after the date the Secretary selects eligible entities to participate in the pilot program under this section, the Secretary shall 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 that participated in 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 services, or the lack thereof, had on individual incomes.(k)WaiversThe Secretary may, upon the written request of an eligible entity receiving amounts under this section, waive requirements under this section that relate to the administration of the pilot program for the eligible entity that submitted the request if such waiver would allow such eligible entity to effectively administer the pilot program and make the required escrow account deposits under this section. (l)TerminationThe pilot program established under this section shall terminate on the date that is 7 years after the date of enactment of this section..405.Reforms to housing counseling and financial literacy programs(a)In generalSection 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)Performance reviewThe 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 or entity’s compliance with all program requirements; and(ii)may take into account the organization’s or entity’s aggregate counselor performance under paragraph (7)(B).(7)Considerations(A)Covered mortgage loan definedIn this paragraph, the term covered mortgage loan means any loan which is secured by a first or subordinate lien on residential real property (including individual units of condominiums and cooperatives) designed principally for the occupancy of 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)ComparisonFor each counselor employed by an organization receiving assistance under this section for pre-purchase 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)CertificationIf, 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 generalThe 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 existing regulations issued by the Secretary.(B)NoticeThe 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 conferenceIf 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 definedIn 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 borrowersA 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)CostIf 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))..406.Establishment of eviction helpline(a)In generalThe Secretary of Housing and Urban Development shall, not later than 1 year after the date of the enactment of this Act, establish a program—(1)to establish a hotline to provide tenants of covered federally assisted rental dwelling units with counseling, resources, and referrals to available assistance relating to eviction-related matters; and(2)to provide information about such hotline to tenants of covered federally assisted rental dwelling units by publishing information about such hotline in common areas of each federally assisted rental dwellings and through other means determined appropriate by the Secretary.(b)SunsetThe program established under this section shall terminate on the date that is 7 years after the date of the enactment of this section.(c)DefinitionsIn this section:(1)AssistanceThe term assistance means any grant, loan, subsidy, contract, cooperative agreement, or other form of financial assistance, but such term does not include the insurance or guarantee of a loan, mortgage, or pool of loans or mortgages.(2)Covered federally assisted rental dwelling unitThe term covered federally assisted rental dwelling unit means a residential dwelling unit—(A)that is made available for rental; and(B)(i)for which assistance is provided, or that is part of a housing project for which assistance is provided, under any program administered by the Secretary of Housing and Urban Development, including—(I)the public housing program under the United States Housing Act of 1937 (42 U.S.C. 1437 et seq.);(II)the program for rental assistance under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f);(III)the HOME Investment Partnerships program under title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.);(IV)title IV of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11360 et seq.);(V)the Housing Trust Fund program under section 1338 of the Housing and Community Development Act of 1992 (12 U.S.C. 4568);(VI)the program for supportive housing for the elderly under section 202 of the Housing Act of 1959 (12 U.S.C. 1701q);(VII)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);(VIII)the AIDS Housing Opportunities program under subtitle D of title VIII of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12901 et seq.);(IX)the program for Native American housing under the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4101 et seq.); and(X)the program for housing assistance for Native Hawaiians under title VIII of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4221 et seq.); or(ii)that is a property, or is on or in a property, that has a federally backed mortgage loan or federally backed multifamily mortgage loan, as such terms are defined in section 4024(a) of the CARES Act (15 U.S.C. 9058(a)).407.Temperature Sensor pilot program(a)In generalThe 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 generalThe Secretary shall, not later than 180 days after the date of the 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)CriteriaIn 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)InstallationEach 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 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 generalEach 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 violations.(2)DefinitionsThe Secretary shall, not later than 180 days after the date of the enactment of this Act, define the terms temperature-related complaints and temperature-related violations for the purposes of this section. (e)Data collection(1)In generalData 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 notifies the public housing agency or owner that the pilot program and the evaluation of the pilot program are complete.(2)Personally identifiable informationThe Secretary shall, not later than 180 days after the date of the 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 evaluationNot later than 12 months after the establishment of the pilot program under this section, the Secretary shall publicly publish and submit to the Congress a report that—(A)examines the number of temperature-related complaints and 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 evaluationNot later than 36 months after the conclusion of the pilot program established by the Secretary under this section, the Secretary shall publicly publish and submit to the Congress a report that—(A)examines the number of temperature-related complaints and 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)SunsetThe pilot program established under this section shall terminate on the date that is 3 years after the date of the enactment of this section.(h)DefinitionsFor the purposes of this section:(1)Approved temperature sensorThe 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.(2)AssistanceThe term assistance means any grant, loan, subsidy, contract, cooperative agreement, or other form of financial assistance, but such term does not include the insurance or guarantee of a loan, mortgage, or pool of loans or mortgages.(3)Covered federally assisted rental dwelling unitThe 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)OwnerThe 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. 1437 et seq.), a public housing agency or an owner entity of public housing units as defined in section 905.108 of title 24, Code of Federal Regulations;(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 section 202(k)(4) of the Housing Act of 1959; 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 section 811(k)(5) of the Cranston-Gonzalez National Affordable Housing Act.408.GAO studies(a)Report to CongressNot later than 1 year after the date of the enactment of this Act, the Comptroller General of the United States shall carry out a study and submit to the 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).(b)GAO study to determine proximity of housing to Superfund sitesNot later than 1 year after the date of the enactment of this section, the Comptroller General of the United States shall carry out a study and submit to the Congress a report that identifies how many residential dwelling units, and how many dwelling units that are a part of public housing (as such term is 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).(c)Report to congressNot later than 1 year after the date of the enactment of this Act, the Comptroller General of the United States shall carry out a study and 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)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, nonprofits, and institutes 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 such States and jurisdictions to establish and document property ownership rights or settle a decedent’s estate;(C)by awarding grants to entities which provide housing counseling, legal assistance, and financial assistance to homeowners and their heirs relating to title clearing and home retention efforts of heirs’ property and which 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.VEnhancing Oversight of Housing Providers501.Requirement to testifySection 7 of the Department of Housing and Urban Development Act (42 U.S.C. 3535) is amended by adding at the end the following new subsection:(u)Annual testimonyThe Secretary shall appear before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate 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..502.Improving public housing agency accountability(a)In generalThe 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 such 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.(b)Federal monitor and receiver transparency(1)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)In addition to the written assessment required in paragraph (1), upon written request by the Committee on Financial Services of the House of Representatives or the Committee on Banking, Housing, and Urban Affairs of the Senate, 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 Financial Services of the House of Representatives or the Committee on Banking, Housing, and Urban Affairs of the Senate with respect to the covered public housing agency which such receiver or Federal monitor is appointed to oversee, including presenting testimony upon request.(c)Disclosure requiredThe Secretary shall, not later than 1 year after the date of the enactment of this section, 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.(5)The name of the official who solicited the contract.(d)Inspector general reviewNot 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.(e)Definitions(1)Covered public housing agencyThe term covered public housing agency means a public housing agency (as such term is 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 generalThe term inspector general means the inspector general of the Department of Housing and Urban Development.(3)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.VIStrengthening Community Banks’ Role in Housing601.Community Bank Deposit Access(a)In generalSection 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 generalCustodial 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)DefinitionsIn this subsection:(A)Custodial depositThe 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 institutionThe 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)PlanThe 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 administratorThe 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 capitalizedThe term well capitalized has the meaning given the term in section 38(b)..(b)Interest rate restrictionSection 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)DefinitionsIn 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)ProhibitionA 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 ratesThe 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..602.Keeping Deposits Local(a)Amount of reciprocal deposits that are not considered to be funds obtained by or through a deposit brokerSection 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 generalThe 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 $250,000,000,000..(b)Definition of Agent InstitutionSection 29(i)(2)(A)(i) of the Federal Deposit Insurance Act (12 U.S.C. 1831f(i)(2)(A)(i)) is amended by striking subclause (I) and inserting the following:(I)when most recently examined under section 10(d) 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); and.(c)Reciprocal deposits study(1)In generalThe 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)ContentsThe 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 non-profit 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)ReportNot 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).603.Supervisory Modifications for Appropriate Risk-based Testing(a)Examination relief for certain well managed and well capitalized financial institutions(1)Insured depository institutionsSection 10(d) of the Federal Deposit Insurance Act (12 U.S.C. 1820(d)) is amended by adding at the end the following:(11)Examination relief for certain well managed and well capitalized insured depository institutions(A)In generalThe following shall apply to a well managed and well capitalized insured depository institution with $6,000,000,000 or less in consolidated assets:(i)Alternating limited-scope examinationsAfter an insured depository institution receives a full-scope, on-site examination from the appropriate Federal banking agency, the next examination of the insured depository institution by the appropriate Federal banking agency shall be a limited-scope examination, as determined by the appropriate Federal banking agency.(ii)Combined examinationsIf an insured depository institution is otherwise subject to separate safety and soundness examinations, consumer compliance examinations, and information technology and cybersecurity examinations, the appropriate Federal banking agency shall, upon request of the insured depository institution, combine two or three such examinations, as specified by the insured depository institution, and carry them out at the same time.(B)ExceptionSubparagraph (A) shall not apply to an insured depository institution if—(i)the insured depository institution is currently subject to a formal enforcement proceeding or order by the Corporation or the appropriate Federal banking agency; or(ii)a person acquired control of the insured depository institution since the most recent full-scope, on-site examination of the insured depository institution from the appropriate Federal banking agency.(C)RulemakingNot later than 12 months after the date of enactment of this paragraph, the Federal banking agencies shall issue rules to carry out subparagraph (A), including, with respect to an insured depository institution described under subparagraph (A), to—(i)establish procedures for the limited-scope examinations described in subparagraph (A)(i);(ii)establish procedures for reviewing insured depository institutions that—(I)experience material changes in financial condition or operational risk profile between scheduled examinations; or(II)have failed to comply with Federal or State banking laws and regulations; and(iii)balance the goals of streamlining the examination cycle for individual insured depository institutions and reducing unnecessary regulatory burdens while maintaining sufficient oversight to ensure the continued safety and soundness of the insured depository institutions and compliance with all applicable laws and regulations.(D)Rule of constructionNothing in this paragraph may be construed to limit the authority of a Federal banking agency to conduct off-site monitoring, targeted reviews, or additional full-scope, on-site examinations of an insured depository institution if the Federal banking agency determines such monitoring, reviews, or examinations are necessary to ensure safety and soundness or compliance with applicable laws.(E)DefinitionsIn this paragraph:(i)Consumer compliance examinationThe term consumer compliance examination means an examination to assess compliance with the requirements of Federal consumer financial law (as such term is defined in section 1002 of the Consumer Financial Protection Act of 2010).(ii)Well capitalizedThe term well capitalized has the meaning given that term in section 38(b).(iii)Well managedWith respect to an insured depository institution, the term well managed means that, when the institution was most recently examined by the appropriate Federal banking agency, the institution was found to be well managed, and the institution’s composite condition was found to be satisfactory or outstanding..(2)Insured credit unionsSection 204 of the Federal Credit Union Act (12 U.S.C. 1784) is amended by adding at the end the following:(h)Examination relief for certain well managed and well capitalized insured credit unions(1)In generalThe following shall apply to a well managed and well capitalized insured credit union with $6,000,000,000 or less in consolidated assets:(A)Alternating limited-scope examinationsAfter an insured credit union receives a full-scope, on-site examination from the National Credit Union Administration, the next examination of the insured credit union by the National Credit Union Administration shall be a limited-scope examination, as determined by the National Credit Union Administration.(B)Combined examinationsIf an insured credit union is otherwise subject to separate safety and soundness examinations, consumer compliance examinations, and information technology and cybersecurity examinations, the National Credit Union Administration shall, upon request of the insured credit union, combine two or three such examinations, as specified by the insured credit union, and carry them out at the same time.(2)ExceptionParagraph (1) shall not apply to an insured credit union if the insured credit union is currently subject to a formal enforcement proceeding or order by the National Credit Union Administration.(3)RulemakingNot later than 12 months after the date of enactment of this subsection, the National Credit Union Administration shall issue rules to carry out paragraph (1), including, with respect to an insured credit union described under paragraph (1), to—(A)establish procedures for the limited-scope examinations described in paragraph (1)(A);(B)establish procedures for reviewing insured credit unions that—(i)experience material changes in financial condition or operational risk profile between scheduled examinations; or(ii)have failed to comply with Federal or State banking laws and regulations; and(C)balance the goals of streamlining the examination cycle for individual insured credit unions and reducing unnecessary regulatory burdens while maintaining sufficient oversight to ensure the continued safety and soundness of the insured credit unions and compliance with all applicable laws and regulations.(4)Rule of constructionNothing in this subsection may be construed to limit the authority of the National Credit Union Administration to conduct off-site monitoring, targeted reviews, or additional full-scope, on-site examinations of an insured credit union if the National Credit Union Administration determines such monitoring, reviews, or examinations are necessary to ensure safety and soundness or compliance with applicable laws.(5)DefinitionsIn this paragraph:(A)Consumer compliance examinationThe term consumer compliance examination means an examination to assess compliance with the requirements of Federal consumer financial law (as such term is defined in section 1002 of the Consumer Financial Protection Act of 2010).(B)Well capitalizedThe term well capitalized has the meaning given that term in section 216(c).(C)Well managedWith respect to an insured credit union, the term well managed means that, when the credit union was most recently examined by the National Credit Union Administration, the credit union was found to be well managed, and the credit union’s composite condition was found to be satisfactory or outstanding..(b)Examination practices(1)Insured depository institutionsSection 10(d) of the Federal Deposit Insurance Act (12 U.S.C. 1820(d)), as amended by subsection (a)(1), is further amended by adding at the end the following:(12)Examination practicesWith respect to on-site examination of an insured depository institution with less than $6,000,000,000 in total assets, the appropriate Federal banking agency shall—(A)ensure the examination is led by, to the maximum extent practicable, an examiner with significant experience as an examiner;(B)make every effort, to the maximum extent practicable, to minimize the number of examiners utilized and the amount of time spent at the institution to carry out the examination;(C)make every effort, to the maximum extent practicable, to schedule the examination at a time that is convenient for the institution; and(D)to the maximum extent practicable, give the institution advance notice of issues expected to be covered in the examination.(13)ReportIn its annual report to Congress, each Federal banking agency shall include—(A)information on how the agency is complying with paragraphs (11) and (12); and(B)aggregate data summarizing the agency’s examination practices with respect to insured depository institutions with less than $6,000,000,000 in total assets, including—(i)the average experience of examiners, including the average number of years of examiner experience of those who lead on-site examinations;(ii)the average number of examiners utilized; and(iii)the average amount of time the agency spends visiting such institutions for on-site examinations..(2)Insured credit unionsSection 204 of the Federal Credit Union Act (12 U.S.C. 1784), as amended by subsection (a)(2), is further amended by adding at the end the following:(i)Examination practicesWith respect to on-site examination of an insured credit union with less than $6,000,000,000 in total assets, the National Credit Union Administration shall—(1)ensure the examination is led by, to the maximum extent practicable, an examiner with significant experience as an examiner;(2)make every effort, to the maximum extent practicable, to minimize the number of examiners utilized and the amount of time spent at the credit union to carry out the examination;(3)make every effort, to the maximum extent practicable, to schedule the examination at a time that is convenient for the credit union; and(4)to the maximum extent practicable, give the credit union advance notice of issues expected to be covered in the examination.(j)ReportIn its annual report to Congress, the National Credit Union Administration shall include—(1)information on how the Administration is complying with subsections (h) and (i); and(2)aggregate data summarizing the Administration’s examination practices with respect to insured credit unions with less than $6,000,000,000 in total assets, including—(A)the average experience of examiners, including the average number of years of examiner experience of those who lead on-site examinations;(B)the average number of examiners utilized; and(C)the average amount of time the Administration spends visiting such credit unions for on-site examinations..604.Tailored Regulatory Updates for Supervisory TestingSection 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 $6,000,000,000.605.Credit Union Board ModernizationSection 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 generalThe 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)MeetingsThe 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 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 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..606.Systemic Risk Authority Transparency(a)GAO reviewSection 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 generalThe 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 constructionNothing 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 reportSection 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 generalThe 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)), all—(I)reports of examination and inspection that relate to the failed insured depository institution in the previous 3-year period;(II)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 privilegeThe 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 generalA 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 materialsIf 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 materialsIf, 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)PrivilegeFor purposes of this subparagraph, the term privilege includes any work-product, attorney-client, or other privilege recognized under Federal or State law.(C)Report extensionA 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 U.S. banking system; and(ii)notifies the Congress of such extension and the reasons for such extension.(D)Consolidated reportsA 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 constructionNothing 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..607.Least cost exception(a)In generalSection 13(c)(4) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)) is amended—(1)in subparagraph (A)(ii), by inserting except as provided in subparagraph (I), before the total amount;(2)in subparagraph (E)(i), by inserting and except as provided in subparagraph (I), after appropriate,; and(3)by adding at the end the following:(I)Least cost resolution exception(i)In generalWith respect to an exercise of authority by the Corporation described in subparagraph (A), the Corporation may, at the discretion of the Corporation, select an alternative method of exercising such authority that is not the least costly to the Deposit Insurance Fund, if—(I)the Corporation determines that the selected alternative complies with the requirements of clause (iii); and(II)the Corporation and the Board of Governors of the Federal Reserve System, after consultation with the Secretary of the Treasury, determine that the potential additional risks to the Deposit Insurance Fund of the selected alternative are outweighed by the reasonably expected benefits of limiting further concentration of the United States banking system in global systemically important banking organizations.(ii)Maximum cost to the deposit insurance fundNot later than 1 year after the date of enactment of this subparagraph, the Corporation, by rule, shall establish criteria for determining on a case-by-case basis the maximum allowable cost against the net worth of the Deposit Insurance Fund that may be utilized to account for any determination under clause (i).(iii)Requirements describedThe requirements for the selected alternative described in clause (i) are as follows:(I)The selected alternative is the least costly to the Deposit Insurance Fund of all alternatives that do not involve a transaction with a global systemically important banking organization and that do not exceed the cost of liquidating the insured depository institution.(II)The difference between the cost of the selected alternative and the cost of a covered alternative is less than or equal to the maximum cost to the Deposit Insurance Fund specified pursuant to the rule adopted under clause (ii).(III)In the case of a selected alternative that involves another person purchasing assets of the insured depository institution or assuming deposit liabilities of the insured depository institution, such person agrees to pay an assessment to the Corporation comprised of payments—(aa)made over a period to be determined by the Corporation, but which may not be less than 5 years; and(bb)in an amount that takes into account, on a case-by-case basis, criteria the Corporation, by rule, shall establish, including a realistic discount rate, the aggregate amount equal to the difference calculated in subclause (II), and any bid inconsistent with the purposes of this Act, with such rule to be established by the Corporation not later than 1 year after the date of enactment of this subparagraph.(iv)Report to congressNot later than 30 days after selecting an alternative described in clause (i), the 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 an analysis of the economic difference between the cost to the Deposit Insurance Fund of the selected alternative and the cost to the Deposit Insurance Fund of the least costly alternative that would have been selected absent the application of this subparagraph.(v)Cost determinationsAll cost determinations required under this subparagraph shall be made in accordance with subparagraphs (B) and (C).(vi)DefinitionsIn this subparagraph:(I)Covered alternativeThe term covered alternative means a method of exercising authority described in subparagraph (A) that is the least costly to the Deposit Insurance Fund of all such methods that involve a sale of all or substantially all assets of the insured depository institution to, and assumption of all or substantially all deposit liabilities of the insured depository institution by, a global systemically important banking organization.(II)Global systemically important banking organizationThe term global systemically important banking organization means a global systemically important BHC (as such term is defined in section 217.402 of title 12, Code of Federal Regulations, or any successor thereto) and any affiliate thereof..(b)Rule of constructionSection 13(c)(4)(H) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)(H)) does not apply to the amendments made by subsection (a).608.Failing Bank Acquisition Fairness(a)Concentration limit exceptions only available to avoid serious adverse economic or financial effects(1)Concentration limits with respect to deposits(A)Federal Deposit Insurance ActThe Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) is amended—(i)in section 18(c)(13)—(I)by amending subparagraph (B) to read as follows:(B)Subparagraph (A) shall not apply to an interstate merger transaction if—(i)such interstate merger transaction involves 1 or more insured depository institutions in default or in danger of default and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from a company that is not subject to the prohibition in subparagraph (A); or(ii)the Corporation provides assistance under section 13 to facilitate such interstate merger transaction and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from a company that is not subject to the prohibition in subparagraph (A).; and(II)in subparagraph (C)—(aa)in clause (i), by striking and at the end;(bb)in clause (ii), by striking the period at the end and inserting a semicolon; and(cc)by adding at the end the following:(iii)the term qualified bid means an application, proposed application, or bid from a company where—(I)if applicable, the company, any affiliate insured depository institution, and any affiliate depository institution holding company are well capitalized and well managed, as of the date of the application, proposed application, or bid; and(II)upon consummation of the transaction, the resulting insured depository institution is well capitalized;(iv)the term well capitalized—(I)with respect to an insured depository institution, has the meaning given such term in section 38(b) (12 U.S.C. 1831o(b));(II)with respect to a bank holding company, has the meaning given such term in section 2(o)(1)(B) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(o)(1)(B));(III)with respect to a savings and loan holding company, has the meaning given such term in section 238.2 of title 12, Code of Federal Regulations; and(IV)with respect to a company that is not an insured depository institution, bank holding company, or savings and loan holding company, means maintaining equity capital that the Corporation determines is commensurate with the capital maintained by an insured depository institution that is well capitalized; and(v)the term well managed has the meaning given such term in section 2(o)(9) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(o)(9)).; and(ii)in section 44, by amending subsection (e) to read as follows:(e)Exception for Banks in Default or in Danger of Default(1)General exceptionThe responsible agency may, without regard to paragraph (1), (3), (4), or (5) of subsection (b) or paragraph (2), (4), or (5) of subsection (a), approve an application under subsection (a)(1) for approval of a merger transaction if—(A)the merger transaction involves 1 or more banks in default or in danger of default; or(B)the Corporation provides assistance under section 13(c) to facilitate such merger transaction. (2)Concentration limit exceptionThe responsible agency may, without regard to subsection (b)(2), approve an application under subsection (a)(1) for approval of a merger transaction if—(A)the merger transaction involves 1 or more banks in default or in danger of default and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in subsection (b)(2); or(B)the Corporation provides assistance under section 13(c) to facilitate such merger transaction and the responsible agency determines, based on clear and convincing evidence, that consummation of the proposed interstate merger transaction is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in subsection (b)(2).(3)Qualified bid definedIn this subsection, the term qualified bid has the meaning given that term in section 18(c)(13)(C)..(B)Bank Holding Company Act of 1956The Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) is amended—(i)in section 3(d), by amending paragraph (5) to read as follows:(5)Exception for banks in default or in danger of default(A)General exceptionThe Board may, without regard to subparagraph (B) or (D) of paragraph (1) or paragraph (3), approve an application pursuant to paragraph (1)(A) if—(i)the application is for an acquisition of 1 or more banks in default or in danger of default; or(ii)the application is for an acquisition with respect to which assistance is provided under section 13(c) of the Federal Deposit Insurance Act.(B)Concentration limit exceptionThe Board may, without regard to paragraph (2), approve an application pursuant to paragraph (1)(A) if—(i)the application is for the acquisition of 1 or more banks in default or in danger of default and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in paragraph (2); or(ii)the application is for an acquisition with respect to which assistance is provided under section 13(c) of the Federal Deposit Insurance Act and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid from another institution that is not subject to the prohibition in paragraph (2).(C)Qualified bid definedIn this paragraph, the term qualified bid has the meaning given that term in section 18(c)(13)(C) of the Federal Deposit Insurance Act.; and(ii)in section 4(i)(8), by amending subparagraph (B) to read as follows:(B)ExceptionSubparagraph (A) shall not apply to an acquisition if—(i)such acquisition involves an insured depository institution in default or in danger of default and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid (as defined in section 18(c)(13)(C) of the Federal Deposit Insurance Act) from another institution that is not subject to the prohibition in paragraph (2); or(ii)the Federal Deposit Insurance Corporation provides assistance under section 13 of the Federal Deposit Insurance Act to facilitate such acquisition and the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid (as defined in section 18(c)(13)(C) of the Federal Deposit Insurance Act) from another institution that is not subject to the prohibition in paragraph (2). .(2)Concentration limit with respect to consolidated liabilitiesSection 14(c) of the Bank Holding Company Act of 1956 (12 U.S.C. 1852(c)) is amended—(A)by redesignating paragraphs (1), (2), and (3) as subparagraphs (A), (B), and (C), respectively;(B)by striking With the and inserting the following:(1)In generalWith the; and(C)by adding at the end the following:(2)LimitationThe Board may provide written consent for an acquisition described in paragraph (1)(A) or in paragraph (1)(B) only if the Board determines, based on clear and convincing evidence, that consummation of the proposed acquisition is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and the Corporation has not received any qualified bid (as defined in section 18(c)(13)(C) of the Federal Deposit Insurance Act) from another institution that is not subject to the prohibition in subsection (b)..(b)Congressional notification and justification for waivers(1)In generalWhenever the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, or the Federal Deposit Insurance Corporation waives a concentration limit under section 18(c)(13)(B) or section 44(e) of the Federal Deposit Insurance Act or under section 3(d)(5), section 4(i)(8)(B), or section 14(c)(2) of the Bank Holding Company Act of 1956, in connection with the acquisition of a bank or insured depository institution in default or in danger of default, or in connection with an acquisition with respect to which the Federal Deposit Insurance Corporation provides assistance under section 13 of the Federal Deposit Insurance Act, the waiving agency and the Federal Deposit Insurance Corporation, jointly, shall, not later than 30 days after such waiver, submit a written report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs in the Senate containing—(A)a justification for the waiver, including an analysis of why it was necessary to prevent significant economic disruption or significant adverse effects on financial stability;(B)a description of alternative bids or outcomes considered, including efforts to solicit and encourage bids from entities that would not require a waiver;(C)an explanation of why alternative bids were not selected, if applicable; and(D)any recommendations for legislative or regulatory changes to improve competition in future insured depository institution resolutions.(2)Public disclosureThe waiving agency submitting a report under paragraph (1) and the Federal Deposit Insurance Corporation shall make the report publicly available on their respective websites, subject to redactions for confidential supervisory information and any other information described under section 552(b) of title 5, United States Code.(c)Limitation on considering bad faith bids in least cost determinationSection 13(c)(4) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)), as amended by section 607(a)(3), is further amended by adding at the end the following:(J)Limitation on considering bad faith bidsIn making a determination under this paragraph of whether an exercise of authority is the least costly to the Deposit Insurance Fund, the Corporation may not consider any application, proposed application, or bid from a company, if such application, proposed application, or bid would result in violation of—(i)section 18(c)(13) or 44(b)(2); or(ii)section 3(d)(2), 4(i)(8), or 14 of the Bank Holding Company Act of 1956..609.Advancing the Mentor-Protégé Program for Small Financial Institutions(a)In generalSection 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-Protégé Program(1)In generalThe Secretary of the Treasury shall establish a program to be known as the Financial Agent Mentor-Protégé 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)OutreachThe 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)ExclusionThe 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)ReportThe 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)DefinitionsIn this subsection:(A)Financial agentThe term financial agent means any national banking association designated by the Secretary of the Treasury to be employed as a financial agent of the Government.(B)Large financial institutionThe 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 institutionThe term rural depository institution means a depository institution (as defined in section 3 of the Federal Deposit Insurance Act)—(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)Small financial institutionThe 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..(b)Effective dateThis section and the amendment made by this section shall take effect 90 days after the date of the enactment of this Act.610.American Access to Banking(a)Streamlining application process and review of capital raising by de novo regulated institutions(1)In generalEach 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)ReportNot later than 1 year after the date of the enactment of this section, and annually for 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 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 generalEach 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 dutiesEach 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 caseworkerEach 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-Protégé partnerships(1)In generalAt 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 informationNot later than 1 year after the date of the enactment of this section, 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 generalEach 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 generalNot later than 2 years after the date of the enactment of this section, 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 commentWith 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 generalIn this section:(A)Federal banking agencyThe 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 agenciesThe 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 institutionThe 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)StateThe term State means each of the several States, the District of Columbia, and each territory of the United States.(E)State regulatorThe 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 constructionFor 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.611.Promoting New Bank Formation(a)Pilot phase-in of capital standardsThe 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 generalDuring 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 changesThe appropriate Federal banking agency shall, not later than the end of the 90-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 actIf 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)StudyThe 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 CongressNot 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)StudyThe 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 congressNot 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)DefinitionsIn this section:(1)Appropriate Federal banking agencyThe 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 institutionThe 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 companyThe 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 agencyThe 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 institutionThe 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 bankThe 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, 2028.612.Rural Depositories Revitalization Study(a)StudyThe 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)ReportNot 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 UnionsThe 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 UnionsNot 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).(c)DefinitionsIn this section:(1)Depository institutionThe 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 agenciesThe 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)RuralWith 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.613.Discretionary Surplus Fund(a)In generalThe dollar amount specified under section 7(a)(3)(A) of the Federal Reserve Act (12 U.S.C. 289(a)(3)(A)) is reduced by $115,000,000.(b)Effective dateThe amendment made by subsection (a) shall take effect on September 30, 2035.Passed the House of Representatives February 9, 2026.Kevin F. McCumber,Clerk.February 24, 2026Read the second time and placed on the calendar

119 HR 6644 RH: Housing for the 21st Century Act U.S. House of Representatives 2026-01-15 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IBUnion Calendar No. 392119th CONGRESS2d SessionH. R. 6644[Report No. 119–457, Part I]IN THE HOUSE OF REPRESENTATIVESDecember 11, 2025Mr. Hill of Arkansas (for himself, Ms. Waters, Mr. Flood, and Mr. Cleaver) introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concernedJanuary 15, 2026Additional sponsors: Mr. Green of Texas, Mr. Sessions, Ms. Velázquez, Mr. Rose, Mr. Sherman, Mr. Steil, Mr. David Scott of Georgia, Mr. Stutzman, Mrs. Beatty, Mr. Meuser, Ms. Pressley, Mrs. Kim, Ms. Tlaib, Mr. Garbarino, Mr. Torres of New York, Mr. Lawler, Ms. Garcia of Texas, Ms. De La Cruz, Ms. Pettersen, Mr. Nunn of Iowa, Mr. Fields, Ms. Salazar, Ms. Bynum, Mr. Downing, Mr. Liccardo, Mr. Haridopolos, Mr. Moskowitz, and Mr. Moore of North CarolinaJanuary 15, 2026Reported from the Committee on Financial Services with amendmentsStrike out all after the enacting clause and insert the part printed in italicJanuary 15, 2026Committee on Veterans' Affairs discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printedFor text of introduced bill, see copy of bill as introduced on December 11, 2025A BILLA bill to increase the supply of housing in America, and for other purposes.1.Short title; table of contents(a)Short titleThis Act may be cited as the Housing for the 21st Century Act. (b)Table of contentsThe table of contents for this Act is as follows:Sec. 1. Short title; table of contents.Title I—Building Smarter for the 21st CenturySec. 101. Housing Supply Frameworks.Sec. 102. Accelerating home building grant program.Sec. 103. Federal guidelines for point-access block buildings.Sec. 104. Unlocking Housing Supply Through Streamlined and Modernized Reviews.Sec. 105. Federal Housing Agency Application of Environmental Reviews.Sec. 106. Multifamily loan limits.Sec. 107. GAO studies.Title II—Modernizing Local Development and Rural Housing ProgramsSec. 201. HOME Reform.Sec. 202. Community Development Fund Amendments.Sec. 203. Grants for planning and implementation associated with affordable housing.Sec. 204. Rural housing service program improvements.Sec. 205. Choice in Affordable Housing.Title III—Expanding Manufactured and Affordable Housing Finance OpportunitiesSec. 301. Manufactured Housing Innovations.Sec. 302. FHA small-dollar mortgages.Sec. 303. Community investment and prosperity.Title IV—Protecting Borrowers and Assisted FamiliesSec. 401. Exclusion of certain disability benefits.Sec. 402. Military service question.Sec. 403. HUD–USDA–VA Interagency Coordination.Sec. 404. Family self-sufficiency escrow expansion pilot program.Sec. 405. Reforms to housing counseling and financial literacy programs.Sec. 406. Establishment of eviction helpline.Sec. 407. Temperature Sensor pilot program.Sec. 408. GAO studies.Title V—Enhancing Oversight of Housing ProvidersSec. 501. Requirement to testify.Sec. 502. Improving public housing agency accountability.IBuilding Smarter for the 21st Century101.Housing Supply Frameworks(a)DefinitionsIn this section:(1)Affordable housingThe 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 SecretaryThe term Assistant Secretary means the Assistant Secretary for Policy Development and Research of the Department of Housing and Urban Development.(3)Local zoning frameworkThe 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)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.(5)State zoning frameworkThe 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 generalNot 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 commentDuring 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)ContentsThe 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;(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 generalThe 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)RepealSection 1205 of the Housing and Community Development Act of 1992 (42 U.S.C. 12705d) is repealed.(d)ReportingNot 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 the Congress a report describing—(1)the States that have adopted recommendations from the guidelines and best practices, pursuant to section 4 of this Act;(2)a summary of the localities that have adopted recommendations from the guidelines and best practices, pursuant to section 4 of this Act;(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 constructionNothing 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 (c).

102.Accelerating home building grant program(a)In generalThe Secretary may award grants to eligible entities to review designs of covered structures of mixed-income housing and designate such reviewed designs to be included in pattern books for use in the jurisdiction of the eligible entity.(b)RestrictionAmounts awarded under this section may not be used for construction, alteration, or repair work.(c)ConsiderationsIn reviewing applications submitted by eligible entities for a grant under this section, the Secretary shall consider—(1)the need for affordable housing in the eligible entity;(2)the presence of high opportunity areas in 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 areasOf the amounts 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)Report requirementNot later than 3 years after being awarded a grant under this section, an eligible entity shall submit to the Secretary a report that—(1)describes the impacts of the activities carried out using the amounts provided under this section on improving the production and supply of affordable housing;(2)includes a list of any pattern books the eligible entity has established using amounts provided under this section, including a description of the designs such pattern book includes;(3)identifies the number of permits issued by the eligible entity for housing development using designs from such pattern book; and(4)identifies the number of housing units produced in developments of the eligible entity using a design from such pattern book.(f)Availability of informationThe Secretary shall—(1)to the extent possible, encourage eligible entities awarded grants under this section to make any pattern books established by such entity, and designs in such pattern book, publicly available through a website; and(2)collect, identify, and disseminate best practices relating to pattern books and make such information publicly available on a website of the Department of Housing and Urban Development.(g)Repayment of awarded amountsThe Secretary may require an eligible entity to return, to the Secretary, grant amounts awarded under this section if the Secretary determines that the eligible entity has not approved a sufficient number of building permits that use designs included in a pattern book established by the eligible entity, during the 5-year period following receipt of the grant by the eligible entity, unless such period is extended by the Secretary.(h)DefinitionsIn this section:(1)Affordable housingThe 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 structureThe term covered structure means a low-rise or mid-rise structure with not more than 25 dwelling units that may include—(A)an accessory dwelling unit;(B)infill development;(C)a duplex;(D)a triplex;(E)a fourplex;(F)a cottage court;(G)a courtyard building;(H)a townhouse;(I)a multiplex; and(J)any other structure with not less than 2 dwelling units that the Secretary has determined in advance to be appropriate.(3)Eligible entityThe 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)); and(B)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 areaThe 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 developmentThe term infill development means a residential housing development on small parcels in previously established areas for replacement by new or refurbished housing that utilizes existing utilities and infrastructure.(6)Mixed-income housingThe term mixed-income housing means a housing development that is comprised of housing units that promote differing levels of affordability in the community.(7)Pattern bookThe term pattern book means a set of pre-reviewed, designated designs or construction plans that are assessed and approved as by-right development by localities for compliance with local building and permitting standards to streamline and expedite approval pathways for housing construction.(8)Rural areaThe term rural area means any area other than a city or town that has a population of less than 50,000 inhabitants.(9)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.103.Federal guidelines for point-access block buildings(a)In generalNot 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)ContentsWhen developing the guidelines under subsection (a), the Secretary 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;(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 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 CouncilThe Secretary 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)GrantsThe Secretary may 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.(e)Rule of constructionNothing in this section may be construed to preempt a State or local building code.(f)DefinitionsIn this section:(1)Eligible entityThe 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 buildingThe 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.104.Unlocking Housing Supply Through Streamlined and Modernized Reviews(a)NEPA streamlining for HUD housing-related activities(1)In generalThe Secretary of Housing and Urban Development shall, in accordance with section 553 of title 5, United States Code, 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, as defined in section 8(o) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)).(ii)Supportive services, including health care, housing services, permanent housing placement, day care, nutritional services, short-term payment 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 homebuyers to purchase 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 homeowner or renter assistance for HVAC, hot water heaters, and other necessary uses of 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 sections 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 on up to 4 scattered site existing dwelling units where there is a maximum of 4 units on any 1 site.(IV)Acquisitions (including leasing) or 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 sections 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—(aa)a maximum number of units to be determined by the Secretary; and(bb)a limitation on the change in building size to not more than 20-percent.(III)New construction, development, demolition, acquisition, or disposition on 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 on 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)Buyouts, defined as the voluntary acquisition of properties located in—(aa)a floodway;(bb)a floodplain; or(cc)an other area, clearly delineated by the grantee, that has been impacted by a predictable environmental threat to the safety and wellbeing of program beneficiaries caused or exacerbated by a federally declared disaster.(2)ReportThe 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 annual reports during the 5-year period beginning on the date that is 2 years after the date of enactment of this Act that provide 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 subsection, 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.(b)Better Use of Intergovernmental and Local Development for Housing(1)Designation of environmental review procedureThe 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:13.Designation of environmental review procedure(a)In generalExcept 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).(b)ExceptionThe 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..(2)Tribal assumption of environmental review obligationsSection 305(c) of the Multifamily Housing Property Disposition Reform Act of 1994 (42 U.S.C. 3547) is amended—(A)by striking State or unit of general local government each place it appears and inserting State, Indian Tribe, or unit of general local government;(B)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(C)by adding at the end the following:(5)Definition of Indian TribeFor 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)Infill project definedIn this section, the term infill project means a project that—(1)occurs within the geographic limits of a municipality;(2)is adequately served by existing utilities and public services as required under applicable law;(3)is located on a site of previously disturbed land of not more than 5 acres and substantially surrounded by residential or commercial development;(4)will repurpose a vacant or underutilized parcel of land, or a dilapidated or abandoned structure; and(5)will serve a residential or commercial purpose.105.Federal Housing Agency Application of Environmental Reviews(a)Memorandum of understanding(1)In generalNot 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—(A)evaluate the use of categorical exclusions (as defined in section 111 of the National Environmental Policy Act of 1969 (42 U.S.C. 4336e)) for housing projects funded by amounts from the Department of the Housing and Urban Development and the Department of Agriculture;(B)develop a process to designate a lead agency among the Department of Housing and Urban Development and the Department of Agriculture to streamline the adoption of environmental impact statements and environmental assessments approved by the other agency to construct housing projects funded by amounts from both agencies;(C)maintain compliance with environmental regulations under part 58 of title 24, Code of Federal Regulations, as in effect on January 1, 2025; and(D)evaluate the feasibility of a joint physical inspection process for housing projects funded by amounts from the Department of the Housing and Urban Development and the Department of Agriculture.(2)Advisory working group(A)In generalNot 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 establish an advisory working group for the purpose of consulting on the implementation of the memorandum of understanding entered into under paragraph (1).(B)MembersThe advisory working group established under subparagraph (A) shall consist of rural and nonrural stakeholders, including—(i)affordable housing nonprofit organizations;(ii)State housing and housing finance agencies;(iii)nonprofit and for-profit home builders and housing developers;(iv)property management companies;(v)owners of multifamily properties, including nonprofit and for-profit owners and operators;(vi)public housing agencies;(vii)residents in housing assisted by the Department of Housing and Urban Development or the Department of Agriculture and representatives of those residents; and(viii)housing contract administrators.(3)ReportNot 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—(A)to improve the efficiency and effectiveness of housing projects funded by amounts from the Department of the Housing and Urban Development and the Department of Agriculture; and(B)that do not materially, with respect to residents of housing projects described in subparagraph (A)—(i)reduce the safety of those residents;(ii)shift long-term costs onto those residents; or(iii)undermine the environmental standards of those residents.(b)Study and Review(1)ExemptionIn 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.(2)ReportNot 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—(A)determines whether the implementation of this section—(i)reduced the amount of time it takes to review an application for assistance under the sections of the Housing Act of 1949 identified in paragraph (1); and(ii)reduced the administrative cost of providing such assistance;(B)describes how the implementation of this section affects the affordable housing sector in rural America; and(C)includes any legislative recommendations from the Secretary of Agriculture.(2)DefinitionsIn this section:(A)GreenfieldThe term greenfield means a site that has not been developed, including a woodland, farmland, and an open field.(B)Infill siteThe term infill site—(i)means a site that is served by existing infrastructure, including water lines, sewer lines, and roads; and(ii)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.106.Multifamily loan limits(a)In generalTitle 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 January 1, 2026. 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 calculated 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 striking subsection (b) and inserting the following:(b)RoundingThe dollar amount of any adjustment described in subsection (a) shall be rounded to the next lower dollar. (c)PublicationThe Secretary shall publish in the Federal Register any adjustments made to the Dollar Amounts.;(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 constructionNothing 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.107.GAO studies(a)Workforce housing study(1)In generalNot later than 1 year after the date of the enactment of this section, the Comptroller General of the United States shall conduct a study and submit to the 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 such 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.(2)Middle-income household definedIn 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 with adjustments for smaller and larger families.(b)Uniform building code studyNot later than 1 year after the date of the enactment of this section, the Comptroller General of the United States shall conduct a study and submit a report to the Congress that examines the costs and benefits that could be associated with establishing a Federal uniform residential building code, including whether such a code could—(1)reduce the amount of time required for units of local government to approve new construction;(2)reduce the cost of residential construction in the United States; or(3)increase the quality of available and affordable residential housing in the United States.IIModernizing Local Development and Rural Housing Programs201.HOME Reform(a)In generalSection 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704) is amended—(1)in paragraph (6)(B), by striking significant; and(2)by adding at end the following new paragraph:(26)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..(b)Assistance for low-Income familiesTitle II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.) is amended—(1)in section 214(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;(2)in section 215—(A)in subsection (b)(2), 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; and(B)in subsection (b)(3)(A)(ii), by striking low-income homebuyers and inserting homebuyers 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(3)in section 271(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.(c)Choices made by participating jurisdictionsSection 212(a)(2) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12742) is amended to read as follows:(2)LimitationThe Secretary may not restrict a participating jurisdiction’s choice of rehabilitation, substantial rehabilitation, new construction, reconstruction, acquisition, or other eligible housing uses authorized in paragraph (1) unless such restriction is explicitly authorized under section 223(2)..(d)Use of amounts by certain jurisdictions for infrastructure improvements(1)In generalSection 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 generalA 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; 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 standardsThe 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 constructionNothing 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)RulemakingNot later than 1 year after the date of the enactment of this section, the Secretary shall issue rules to carry out the amendment made by paragraph (1).(e)Per unit investment limitationsSection 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.(f)Affordable rental housing qualificationsSection 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 ExceptionNotwithstanding 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 tenant’s contribution toward rent does not exceed the amount permitted under such section 8 assistance; and(C)the total rent for the unit does not exceed the amount approved by the public housing agency administering the assistance under that program..(g)Affordable homeownership housing qualificationsSection 215 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12745(b)) is amended—(1)in subsection (b)—(A)in paragraph (1), by striking 95 percent and inserting 110 percent;(B)in paragraph (3)—(i)in subparagraph (A)(ii), by striking or at the end;(ii)in subparagraph (B), by striking and at the end and inserting or; and(iii)by adding at the end the following new subparagraph:(C)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 homebuyers 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; and; and(2)by adding at the end the following:(c)Qualification exceptions for homeownership(1)Military membersA participating jurisdiction, in accordance with terms established by the Secretary, may suspend or waive the income qualifications described in subsection (b)(2) with respect to housing that otherwise meets the criteria described in subsection (b) 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(d) 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 ownersHousing that meets the criteria described in subsection (b)(3) 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..(h)Elimination of expiration of right to draw home investment trust fundsSection 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).(i)Adjusted recapture and reuse of set-aside for community housing developmental organizationsSection 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 reuseIf 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 title II of this Act without regard to whether a community housing development organization materially participates in the use of such funds..(j)Asset recycling information dissemination expansionSection 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.(k)Environmental review requirements(1)In generalSection 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 exemptionsThe 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); and(4)new construction projects of 15 units or less.(f)Removing duplicative reviews(1)In generalTo 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 responsibilitiesThe Secretary shall, by regulation, provide for coordination of environmental review responsibilities with other Federal agencies to streamline inter-agency 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 entitiesA 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)RulemakingNot 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.(l)Application of other specified statutory requirementsTitle 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 new sections (and by conforming the table of sections in section 1(b), accordingly):291.Application of build America, buy America requirementsWith respect to activities assisted under this title, requirements under the Build America, Buy America Act (41 U.S.C. 8301 note) and any implementing regulations or guidance, shall only apply to infrastructure improvements conducted under section 212(a)(4) using funds provided under subtitle A.292.Nonapplicability of certain requirements for small projectsNotwithstanding 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 50 or fewer..(m)Technical amendmentsThe 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 it appears and inserting McKinney-Vento Homeless Assistance Act; and(2)by striking Committee on Banking, Finance and Urban Affairs each place it appears and inserting Committee on Financial Services.(n)Reallocation not available for certain jurisdictionsSection 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 jurisdictionsThe 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..(o)Amendments to qualification as affordable housingSection 215(a) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12745(a)) is amended—(1)in paragraph (1)(E), 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; and(2)by adding at the end the following:(8)Small-scale housing(A)In generalSmall-scale housing shall qualify as affordable housing under this title if—(i)each dwelling unit in such housing bears rent in an amount that complies with the requirements described in paragraph (1)(A);(ii)each dwelling unit in such housing is occupied by a low-income family;(iii)no dwelling unit in such 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 such voucher;(iv)such housing complies with the requirement described in paragraph (1)(E); and(v)the participating jurisdiction in which such small-scale housing is located monitors the compliance of such housing with the requirements of this title in a manner consistent with the purposes of section 226(b), as determined by the Secretary.(B)Small-scale housing definedIn this paragraph, the term small-scale housing means housing with not more than 4 dwelling units each of which is made available for rental. .(p)Tenant and participant protections for small-scale affordable housingSection 225 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12755) is amended by adding at the end the following:(e)ExceptionParagraphs (2), (3), and (4) shall not apply to small-scale housing, as such term is defined in section 215(a)(7)..(q)Revision of definition of community land trustSection 104 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704) is amended by adding at the end the following:(27)The term community land trust means a nonprofit entity, a State, a unit of local government or 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 homeownership; 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..(r)Conforming amendmentsThe Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12701 et seq.) is amended—(1)in section 233 by striking subsection (f); and(2)in section 233(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). (s)Minimum allocationsSection 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;(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 the enactment of the Housing for the 21st Century Act or less than $750,000 on or after the date of the enactment of the Housing for the 21st Century Act; and (C)by striking , except as provided in paragraph (4); and(3)by striking paragraph (4).(t)Additional technical correctionsThe Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12701 et seq.) is amended—(1)in section 108(a)(1), by striking section 105(b)(15) and inserting section 105(b)(18); and(2)in section 217(b)(1)(F), by striking Subcommittee on Housing and Community Development and inserting Subcommittee on Housing, Transportation, and Community Development.202.Community Development Fund Amendments(a)Identifying Regulatory Barriers to Housing SupplySection 104 of the Housing and Community Development Act of 1974 (42 U.S.C. 5304) is amended by adding at the end the following:(n)Plan to track and reduce overly burdensome land use policies(1)In generalBeginning 1 year after the date of the enactment of this subsection, prior to receipt in any fiscal year of a grant from the Secretary under subsection (b), (d)(1), or (d)(2)(B) of section 106, each recipient shall have prepared and submitted, not less frequently than once during the preceding 5-year period, a description of—(A)whether the jurisdiction served by the recipient has adopted any of the types of land use policies described in paragraph (2) during the preceding 5-year period;(B)the plans the jurisdiction served by the recipient has to adopt and implement any of the types of land use policies described in paragraph (2); and(C)any ways in which the jurisdiction served by the recipient expects the planned adoption of any of the types of land use policies described in paragraph (2) would benefit the jurisdiction.(2)Types of land use policiesThe types of policies to be considered for the purposes of the submission of information required under paragraph (1) include the following: (A)Expanding by-right multifamily zoned areas.(B)Allowing duplexes, triplexes, or fourplexes in areas zoned primarily for single-family residential homes.(C)Allowing manufactured homes in areas zoned primarily for single-family residential homes.(D)Allowing multifamily development in retail, office, and light manufacturing zones.(E)Allowing single-room occupancy development wherever multifamily housing is allowed.(F)Reducing minimum lot size.(G)Ensuring historic preservation requirements and other land use policies or requirements are coordinated to encourage creation of housing in historic buildings and historic districts.(H)Increasing the allowable floor area ratio by allowing a higher ratio of total floor area in a building in comparison to its lot size.(I)Creating transit-oriented development zones.(J)Streamlining or shortening permitting processes and timelines, including through one-stop and parallel-process permitting.(K)Eliminating or reducing off-street parking requirements.(L)Ensuring impact and utility investment fees accurately reflect required infrastructure needs and related impacts on housing affordability are otherwise mitigated.(M)Allowing off-site construction, including prefabricated construction.(N)Reducing or eliminating minimum unit square footage requirements.(O)Allowing the conversion of office units to apartments.(P)Allowing the subdivision of single-family homes into duplexes.(Q)Allowing accessory dwelling units, including detached accessory dwelling units, on all lots with single-family homes.(R)Establishing density bonuses.(S)Eliminating or relaxing residential property height limitations.(T)Using property tax abatements to enable higher density and mixed-income communities.(U)Donating vacant land for affordable housing development.(V)Enacting other relevant high-density, single-family, and multifamily zoning policies that the recipient chooses to report.(3)Effect of submissionA submission under this subsection shall not be binding with respect to the use or distribution of amounts received under section

106.(4)Acceptance or nonacceptance of planThe acceptance or nonacceptance of any plan submitted under this subsection in which the information required under this subsection is provided may not be considered an endorsement or approval of the plan, policies, or methodologies, or lack thereof.(5)Prohibition on use of information for enforcementInformation provided by a recipient to the Secretary under this subsection may not be used as the basis for any enforcement action..(b)Addition of affordable housing construction as an eligible activity(1)Eligible activitySection 105(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(a)) is amended—(A)in paragraph (25)(D), by striking and at the end;(B)in paragraph (26), by striking the period at the end and inserting ; and; and(C)by adding at the end the following new paragraph:(27)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..(2)Low- and moderate-income requirementSection 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.(3)ApplicabilityThe amendments made by this subsection shall apply with respect only to amounts appropriated after the date of the enactment of this Act.(c)Databases of publicly owned land(1)In generalSection 104(b) of the Housing and Community Development Act of 1974 (42 U.S.C. 5304(b)) is amended—(A)in paragraph (5), by striking and at the end;(B)in paragraph (6), by striking the period at the end and inserting ; and; and(C)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..(2)Effective dateThe amendments made by this subsection shall take effect on October 1, 2026.203.Grants for planning and implementation associated with affordable housing(a)In generalThe Secretary of Housing and Urban Development shall, not later than 1 year after the date of the enactment of this section, establish a program to award grants on a competitive basis to eligible entities to assist planning and implementation activities associated with affordable housing.(b)Use of amounts(1)By regional planning agenciesIf an eligible entity that receives amounts under this section is a regional planning agency or consortia of regional planning agencies, such eligible entity shall use such 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 countiesIf an eligible entity that receives amounts under this section is a State, insular area, metropolitan city, or urban county, such eligible entity shall use such 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 costsA eligible entity that receives amounts under this section may not use more than 10-percent of such amounts for administrative costs.(c)CoordinationTo the extent practicable, the Secretary shall coordinate with the Federal Transit Administrator in carrying out this section.(d)Additional uses of amounts(1)Housing constructionExpenditures on new construction of housing shall be an eligible expense under this section.(2)Buildings for general conduct of governmentExpenditures on building for the general conduct of government, other than the Federal Government, shall be eligible under this section when necessary and appropriate as a part of a natural hazard mitigation project.(e)DefinitionsIn this subsection:(1)Eligible entityThe term eligible entity means—(A)a State, insular area, metropolitan city, or urban county, as such terms are defined in section 102 of the Housing and Community Development Act of 1974; or(B)a regional planning agency or consortia of regional planning agencies.(2)Housing planThe 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 strategyThe term housing strategy means a housing strategy required under section 105 of the Cranston-Gonzalez National Affordable Housing Act.204.Rural housing service program improvements(a)In generalSection 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.(b)Annual report on rural housing programsTitle 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:545.Annual report(a)In generalThe 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 and publish on a website of the Department of Agriculture an annual report on the rural housing programs carried out under this title.(b)ContentsThe report required under subsection (a) shall include significant details on the information about the health of the programs carried out by the Rural Housing Service, including—(1)raw data about loan performance that can be sorted by program and region;(2)a description of the housing stock of such programs;(3)information about why properties end participation in such programs, including maturation prepayment, foreclosure, or other servicing issues; and(4)risk ratings for properties assisted under such programs.(c)Protection of informationData included in a report required under subsection (a) may be aggregated or anonymized to protect the financial information and personal information of program participants..(c)Application review(1)Sense of CongressIt is the sense of the 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 generalNot 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 that—(i)details the timeliness of eligibility determinations and final determinations with respect to applications under section 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)includes recommendations to shorten the timeline for notifications of eligibility determinations described in subparagraph (A) to not more than 90 days.(B)Date describedThe date described in this paragraph 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.(d)GAO report on Rural Housing Service technologyNot later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to the 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;(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.205.Choice in Affordable Housing(a)Preapproval of unitsSection 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)DefinitionIn 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 inspectionUpon 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 family assisted under this subsection.(III)EffectAn inspection conducted under subclause (II) that determines that the dwelling unit meets the housing quality standards under subparagraph (B) shall satisfy the requirements in this subparagraph and subparagraph (C) if the new landlord enters into a lease agreement with a family assisted under this subsection not later than 60 days after the date of the inspection.(IV)Information when family is selectedWhen 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)..(b)Satisfaction of inspection requirements through participation in other housing programsSection 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 buildingsA 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 financed by a person who received a low-income housing tax credit under section 42 of the Internal Revenue Code of 1986 in exchange for that financing;(II)the dwelling unit was physically inspected and passed inspection as part of the low-income housing tax credit 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).(ii)Home investment partnerships programA 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;(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 ServiceA 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 inspectionsWhen complying with inspection requirements for a housing unit located in a rural or small area using assistance under this subtitle, the Secretary may allow a grantee to conduct a remote or video inspection of a unit provided that the remote or video inspection—(I)covers a substantially similar review of the relevant aspects of the unit compared to an in-person inspection;(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 applicable standards.(v)Rule of constructionNothing in clause (i), (ii), (iii), or (iv) may be construed to affect the operation of a housing program described in, or authorized under a provision of law described in, that clause..IIIExpanding Manufactured and Affordable Housing Finance Opportunities301.Manufactured Housing Innovations(a)In generalSection 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 chassisSection 604(a) 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:(7)Standards for manufactured homes built without a permanent chassis(A)In generalThe Secretary shall issue revised standards for manufactured homes built without a permanent chassis and shall consult with the consensus committee in the development of such revised standards, using the process described in paragraph (4). (B)Creating final standardsThe Secretary shall, after consulting and conferring with the consensus committee, establish standards to ensure manufactured homes without a permanent chassis have— (i)a distinct label to be issued by the Secretary distinguishing manufactured homes 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, 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 standards and certificationsSection 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 standards and certifications(1)In general(A)Initial certificationSubject to subparagraph (B), not later than 1 year after the date of enactment of this subsection, a State shall submit to the Secretary an initial certification that the laws and regulations of the State—(i)treat a manufactured home without a chassis in parity with a manufactured home (as defined and regulated by the State); and(ii)subject a manufactured home without a permanent chassis to the same laws and regulations of the State as a manufactured home built on a permanent chassis with respect to financing, title, insurance, manufacture, sale, taxes, transportation, 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 submissionAny State plan submitted under section 623(c) of the National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5422(c)) shall contain the required State certification under subparagraph (A) or paragraph (3) and, if contained therein, no additional or State certification under subparagraph (A) or paragraph (3).(C)Extended deadlineWith 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 this subsection.(D)Late certification(i) No waiverThe 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 constructionNothing 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 planThe 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 recertificationNot 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)ListThe 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)DefinitionIn 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 this subsection.(B)Building, installation, and saleIf a State does not submit a certification under paragraph (1)(A) or paragraph (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 homesThe Secretary of Housing and Urban Development may coordinate with the heads of other Federal agencies to ensure that Federal agencies treat a manufactured home (that is 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 (that is 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.(e)Assistance to StatesSection 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)PreemptionNothing 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)).(g)Primary authority to establish manufactured home construction and safety standardsThe National Manufactured Housing Construction and Safety Standards Act of 1974 (42 U.S.C. 5401 et seq.) is further amended—(1)in section 603(7), by inserting energy efficiency, after design,; and(2)in section 604, by adding at the end the following:(j)Primary authority to establish standards(1)In generalThe Secretary shall have the primary authority to establish Federal manufactured home construction and safety standards.(2)Approval from Secretary(A)In generalThe head of any Federal agency that seeks to establish a manufactured home construction and safety standard on or after the date of the enactment of this subsection—(i)shall submit to the Secretary a proposal describing such standard; and(ii)may not establish such standard without approval from the Secretary.(B)Rejection of standardsThe Secretary shall reject a standard submitted to the Secretary for approval under subparagraph (A)—(i)if the standard would significantly increase the cost of producing manufactured homes, as determined by the Secretary;(ii)if the standard would conflict with existing manufactured home construction and safety standards established by the Secretary; or(iii)for any other reason as determined appropriate by the Secretary.(C)Rule of constructionNothing in this subsection may be construed to require the Secretary to establish new or revised Federal manufactured home construction and safety standards. .302.FHA small-dollar mortgages(a)In generalNot 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)ReportBeginning 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 the 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 the 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)SunsetThe 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 authorityAfter 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 definedThe 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.303.Community investment and prosperity(a)Revised statutesThe 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 it appears and inserting

20.(b)Federal Reserve ActSection 9(23) of the Federal Reserve Act (12 U.S.C. 338a) is amended, in the fifth sentence, by striking 15 each place it appears and inserting

20.(c)StudyNot later than 2 years after the date of the 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 and State member banks under section 9(23) of the Federal Reserve Act 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 less 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 less 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; or(B)in the case of a report by the Board of Governors, section 9(23) of the Federal Reserve Act.IVProtecting Borrowers and Assisted Families401.Exclusion of certain disability benefits(a)In generalSection 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)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 may not apply to the definition of adjusted income;(v)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, except that this exclusion may not apply to the definition of adjusted income; .(b)Service-connected disability compensationSection 102(a)(20) of the Housing and Community Development Act of 1974 (42 U.S.C. 5302(a)(20)) is amended by adding at the end the following:(C)Service-connected disability compensationWhen determining whether a person is a person of low- and moderate-income, a person of low-income or a person of moderate-income under this paragraph, a State, unit of general local government, or Indian Tribe shall exclude any service-connected disability compensation received by such person from the Department of Veterans Affairs..(c)Treatment of certain disability benefitsWhen determining the eligibility of a veteran to rent a residential dwelling unit constructed on Department property on or after the date of the enactment of this Act, for which assistance is provided as part of a housing assistance program administered by the Secretary of Housing and Urban Development and not yet in existence at the time of the enactment of this section, 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.(d)ReportThe Comptroller General of the United States shall, not later than 1 year after the date of the enactment of this Act, submit to the Congress a report that—(1)examines how service-connected disability compensation is treated for the purposes of determining eligibility for all programs administered by the Secretary of Housing and Urban Development;(2)identifies any instances where service-connected disability compensation is treated in a manner inconsistent with the amendments made by subsections (a) and (b); and(3)with respect to each program administered by the Secretary of Housing and Urban Development in which service-connected disability compensation is treated inconsistently, provides legislative recommendations relating to how such program could better serve veteran populations, and underserved communities.(e)DefinitionsIn this section:(1)Department propertyThe term Department property has the meaning given the term in section 901 of title 38, United States Code.(2)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.402.Military service question(a)In generalSubpart 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:1329.Uniform residential loan applicationNot 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 disclaimer 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 studyNot 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 the 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).403.HUD–USDA–VA Interagency Coordination(a)Memorandum of understandingNot 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 establish a memorandum of understanding, or other appropriate interagency agreement, to share relevant housing-related research and market data that facilitates evidence-based policymaking.(b)Interagency report(1)ReportNot later than 1 year 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, the Committee on Agriculture, Nutrition, and Forestry, and the Committee on Veterans’ Affairs of the Senate and the Committee on Financial Services, the Committee on Agriculture, and the Committee on Veterans’ Affairs of the House of Representatives a report that describes opportunities for increased collaboration between the Secretary of Housing and Urban Development, the Secretary of Agriculture, and the Secretary of Veterans Affairs to improve efficiencies in housing programs.(2)PublicationThe report required under paragraph (1) shall, prior to submission, be published in the Federal Register and open for comment for a period of 30 days.404.Family self-sufficiency escrow expansion pilot programTitle I of the United States Housing Act of 1937 (42 U.S.C. 1437 et seq.) is amended by adding at the end the following:39.Escrow expansion pilot program(a)DefinitionsIn this section:(1)Covered familyThe term covered family means a family that—(A)receives assistance under section 8 or 9 of this Act;(B)is enrolled in the pilot program; and (C)has an adjusted income that does not exceed 80-percent of the area-median income at the time of enrollment in the pilot program.(2)Eligible entityThe term eligible entity means an entity described in subsection (c)(2) of section

23.(3)Pilot programThe term pilot program means the pilot program established under this section.(4)Welfare assistanceThe term welfare assistance has the meaning given the term in section 984.103 of title 24, Code of Federal Regulations, or any successor regulation.(b)Program establishmentThe Secretary shall, not later than 1 year after the date of the enactment of this section, 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 a total of 5,000 covered families, in accordance with this section.(c)Escrow accounts(1)In generalAn eligible entity selected to participate in the pilot program—(A)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 family during the participation of such covered family in the pilot program; and(B)notwithstanding any other provision of law, may use existing funds made available to such entity at any time under section 8 or 9 for the purposes of making the escrow deposit for a covered family assisted under, or residing in a unit assisted under, section 8 or 9 provided that such amounts are offset by the increase in the amount of rent paid by the covered family.(2)WithdrawalsA covered family may withdraw funds, including any interest earned, from an escrow account established by an eligible entity under the pilot program for such covered family—(A)after the covered family ceases to receive welfare assistance; and(B)(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; or(v)under other circumstances for good cause as determined by the Secretary.(3)Interim recertificationFor the purposes of the pilot program established under this section, a covered family shall recertify the income of such family not less than once each year.(4)Contract or planAn eligible entity may not require a covered family to—(A)complete a contract that requires the participation of the covered family in the pilot program established under this section; or(B)participate in any individual training or services plan as a condition for participating in the pilot program.(d)Effect of increases in family incomeThe amount equal to any increase in the earned income of a covered family from the date of enrollment of the covered family in the pilot program established under this section through the date all funds are withdrawn from the escrow account established for such family under this section may not be considered as income or a resource for purposes of eligibility of the covered family for other benefits, or amount of benefits payable to the family, under any program administered by the Secretary.(e)Application(1)In generalAn eligible entity seeking to participate in the pilot program shall submit to the Secretary an application—(A)at such time, in such manner, and containing such information as the Secretary may require by notice; and(B)that includes the number of covered families to which the eligible entity intends to provide escrow accounts under this section.(2)Geographic and entity varietyThe Secretary shall ensure that eligible entities selected to participate in the pilot program—(A)are located across various States and in both urban and rural areas; and(B)vary by size and type, including both public housing agencies and private owners of projects receiving project-based rental assistance under section

8.(f)Notification and opt-outAn eligible entity participating in the pilot program shall—(1)notify each covered family of their enrollment in the pilot program;(2)provide each covered family with a detailed description of the pilot program, including how the pilot program will impact their rent and finances;(3)inform each covered family that the family may not simultaneously participate in the pilot program and the Family Self-Sufficiency program under this section; and(4)provide each covered family with the ability to elect not to participate in the pilot program—(A)not less than 2 weeks before the date on which the escrow account is established under subsection (c); and(B)at any point during the duration of the pilot program.(g)Maximum rentsDuring 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 section 3 or 8(o), as applicable.(h)Pilot program timeline(1)AwardsNot later than 18 months after the date of enactment of this section, the Secretary shall select the eligible entities to participate in the pilot program.(2)Establishment and terms of accountsAn eligible entity selected to participate in the pilot program shall—(A)not later than 6 months after selection, establish escrow accounts under subsection (c) for covered families; and(B)maintain those escrow accounts for not less than 5 years, 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.(i)Nonparticipation and housing assistance(1)In generalA family that elects not to participate in the pilot program may not be delayed or denied assistance under section 8 or 9 for reason of such election.(2)No terminationHousing assistance may not be terminated as a consequence of participating, or not participating, in the pilot program under this section for any period of time.(j)StudyNot later than 8 years after the date the Secretary selects eligible entities to participate in the pilot program under this section, the Secretary shall 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 that participated in 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 services, or the lack thereof, had on individual incomes.(k)WaiversThe Secretary may, upon the written request of an eligible entity receiving amounts under this section, waive requirements under this section that relate to the administration of the pilot program for the eligible entity that submitted the request if such waiver would allow such eligible entity to effectively administer the pilot program and make the required escrow account deposits under this section. (l)TerminationThe pilot program established under this section shall terminate on the date that is 10 years after the date of enactment of this section..405.Reforms to housing counseling and financial literacy programs(a)In generalSection 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)Performance reviewThe 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 or entity’s compliance with all program requirements; and(ii)may take into account the organization’s or entity’s aggregate counselor performance under paragraph (7)(B).(7)Considerations(A)Covered mortgage loan definedIn this paragraph, the term covered mortgage loan means any loan which is secured by a first or subordinate lien on residential real property (including individual units of condominiums and cooperatives) designed principally for the occupancy of 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)ComparisonFor each counselor employed by an organization receiving assistance under this section for pre-purchase 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)CertificationIf, 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 generalThe 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 existing regulations issued by the Secretary.(B)NoticeThe 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 conferenceIf 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 definedIn 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 borrowersA 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)CostIf 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))..406.Establishment of eviction helpline(a)In generalThe Secretary of Housing and Urban Development shall, not later than 1 year after the date of the enactment of this Act—(1)establish a hotline to provide tenants of covered federally assisted rental dwelling units with counseling, resources, and referrals to available assistance relating to eviction-related matters; and(2)provide information about such hotline to tenants of covered federally assisted rental dwelling units by publishing information about such hotline in common areas of each federally assisted rental dwellings and through other means determined appropriate by the Secretary.(b)DefinitionsIn this section:(1)AssistanceThe term assistance means any grant, loan, subsidy, contract, cooperative agreement, or other form of financial assistance, but such term does not include the insurance or guarantee of a loan, mortgage, or pool of loans or mortgages.(2)Covered federally assisted rental dwelling unitThe term covered federally assisted rental dwelling unit means a residential dwelling unit—(A)that is made available for rental; and(B)(i)for which assistance is provided, or that is part of a housing project for which assistance is provided, under any program administered by the Secretary of Housing and Urban Development, including—(I)the public housing program under the United States Housing Act of 1937 (42 U.S.C. 1437 et seq.);(II)the program for rental assistance under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f);(III)the HOME Investment Partnerships program under title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12721 et seq.);(IV)title IV of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11360 et seq.);(V)the Housing Trust Fund program under section 1338 of the Housing and Community Development Act of 1992 (12 U.S.C. 4568);(VI)the program for supportive housing for the elderly under section 202 of the Housing Act of 1959 (12 U.S.C. 1701q);(VII)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);(VIII)the AIDS Housing Opportunities program under subtitle D of title VIII of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12901 et seq.);(IX)the program for Native American housing under the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4101 et seq.); and(X)the program for housing assistance for Native Hawaiians under title VIII of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4221 et seq.); or(ii)that is a property, or is on or in a property, that has a federally backed mortgage loan or federally backed multifamily mortgage loan, as such terms are defined in section 4024(a) of the CARES Act (15 U.S.C. 9058(a)).407.Temperature Sensor pilot program(a)In generalThe Secretary of Housing and Urban Development shall establish a temperature sensor 3-year 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 generalThe Secretary shall, not later than 180 days after the date of the 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)CriteriaIn 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)InstallationEach 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 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 generalEach 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 violations.(2)DefinitionsThe Secretary shall, not later than 180 days after the date of the enactment of this Act, define the terms temperature-related complaints and temperature-related violations for the purposes of this section. (e)Data collection(1)In generalData 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 notifies the public housing agency or owner that the pilot program and the evaluation of the pilot program are complete.(2)Personally identifiable informationThe Secretary shall, not later than 180 days after the date of the 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 evaluationNot later than 12 months after the establishment of the pilot program under this section, the Secretary shall publicly publish and submit to the Congress a report that—(A)examines the number of temperature-related complaints and 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 evaluationNot later than 36 months after the conclusion of the pilot program established by the Secretary under this section, the Secretary shall publicly publish and submit to the Congress a report that—(A)examines the number of temperature-related complaints and 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)DefinitionsFor the purposes of this section:(1)Approved temperature sensorThe 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.(2)AssistanceThe term assistance means any grant, loan, subsidy, contract, cooperative agreement, or other form of financial assistance, but such term does not include the insurance or guarantee of a loan, mortgage, or pool of loans or mortgages.(3)Covered federally assisted rental dwelling unitThe 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)OwnerThe 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. 1437 et seq.), a public housing agency or an owner entity of public housing units as defined in section 905.108 of title 24, Code of Federal Regulations;(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 section 202(k)(4) of the Housing Act of 1959; 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 section 811(k)(5) of the Cranston-Gonzalez National Affordable Housing Act.408.GAO studies(a)Report to CongressNot later than 1 year after the date of the enactment of this Act, the Comptroller General of the United States shall carry out a study and submit to the 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).(b)GAO study to determine proximity of housing to Superfund sitesNot later than 1 year after the date of the enactment of this section, the Comptroller General of the United States shall carry out a study and submit to the Congress a report that identifies how many residential dwelling units, and how many dwelling units that are a part of public housing (as such term is 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).(c)Report to congressNot later than 1 year after the date of the enactment of this Act, the Comptroller General of the United States shall carry out a study and 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)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, nonprofits, and institutes 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 such States and jurisdictions to establish and document property ownership rights or settle a decedent’s estate;(C)by awarding grants to entities which provide housing counseling, legal assistance, and financial assistance to homeowners and their heirs relating to title clearing and home retention efforts of heirs’ property and which 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.VEnhancing Oversight of Housing Providers501.Requirement to testifySection 7 of the Department of Housing and Urban Development Act (42 U.S.C. 3535) is amended by adding at the end the following new subsection:(u)Annual testimonyThe Secretary shall appear before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate 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..502.Improving public housing agency accountability(a)In generalThe 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 such 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.(b)Federal monitor and receiver transparency(1)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)In addition to the written assessment required in paragraph (1), upon written request by the Committee on Financial Services of the House of Representatives or the Committee on Banking, Housing, and Urban Affairs of the Senate, 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 Financial Services of the House of Representatives or the Committee on Banking, Housing, and Urban Affairs of the Senate with respect to the covered public housing agency which such receiver or Federal monitor is appointed to oversee, including presenting testimony upon request.(c)Disclosure requiredThe Secretary shall, not later than 1 year after the date of the enactment of this section, 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.(5)The name of the official who solicited the contract.(d)Inspector general reviewNot 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.(e)Definitions(1)Covered public housing agencyThe term covered public housing agency means a public housing agency (as such term is 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 generalThe term inspector general means the inspector general of the Department of Housing and Urban Development.(3)SecretaryThe term Secretary means the Secretary of Housing and Urban Development.Amend the title so as to read: A bill to increase the supply of housing in America, and for other purposes..January 15, 2026Reported from the Committee on Financial Services with amendmentsJanuary 15, 2026Committee on Veterans' Affairs discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed