,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #aeej  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,april #ae1 #bjac ,mr4
 ,kildee 7= himself & ,mr4 ,turn]7      
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to all[ use ( assi/ance "u !   
,h>de/ ,hit ,fund program "u ! ,tr\bl$  
,assets ,relief ,program ( ! ,dep>tm5t (
 ! ,treasury = demolition ( =eclos$-^u  
prop]ties & relat$ exp5ses4  #a4 ,%ort  
title ,?is ,act may be cit$ z !         
,revitalize ,am]ica ,act ( #bjac4  #b4  
,use ( ,h>de/ ,hit ,fund am\nts =       
demolition & relat$ activities  7a7     
,au?ority ,not)/&+ any provision ( title
 ,i ( ! ,em]g5cy ,economic ,/abilization
 ,act ( #bjjh 7#ab ,u4,s4,c4 #ebaa et   
seq471 any regulation1 guidance1 ord]1  
or o!r directive ( ! ,secret>y ( !      
,treasury1 or any agreem5t 7or am5dm5t  
!reto7 ent]$ into "u ! ,h>de/ ,hit ,fund
 program ( ! ,secret>y "u su* title ,i1 
( any am\nts ( assi/ance t h be51 or    
are1 allocat$ = or provid$ to a ,/ate or

 ,/ate ag5cy ?r\gh ! ,h>de/ ,hit ,fund  
program1 up to #be p]c5t may be us$ =   
demolition ( =eclos$-^u prop]ties &     
relat$ exp5ses1 subject to ! limitations
 9 ?is section4  7b7 ,subgrantees2      
own]%ip ( prop]ty ,assi/ance am\nts     
ref]r$ to 9 subsection 7a7 may be us$ = 
! activities au?oriz$ "u subsection 7a7 
only--  7#a7 pursuant to a grant ( su*  
assi/ance am\nts to a public            
organization t %all adm9i/] su*         
activities2 &  7#b7 if ! =eclos$-^u     
prop]ties to be demoli%$ us+ su*        
assi/ance are own$ at ! "t ( su*        
demolition by ! public organization t   
receiv$ ! grant ( assi/ance am\nts      
ref]r$ to 9 p>agraph 7#a74  7c7         
,def9itions ,= purposes ( ?is section1 !
 foll[+ def9itions %all apply3  7#a7    
,=eclos$-^u ,! t]m =eclos$-^u means1 )  
respect to a prop]ty1 t "o or m ( !     
foll[+ conditions applies3  7,a7 ,!     
prop]ty's curr5t del9qu5cy /atus is at  
lea/ #fj days del9qu5t "u ! ,mortgage   
,bank]s ( ,am]ica del9qu5cy calculation 

& ! own] has be5 notifi$ ( ?is          
del9qu5cy4  7,b7 ,! prop]ty own] is #ij 
days or m del9qu5t on tax paym5ts4  7,c7
 ,"u ,/ate1 local1 or tribal law1       
=eclosure proce$+s h be5 initiat$ or    
complet$4  7,d7 ,=eclosure proce$+s h   
be5 complet$ & title has be5 transf]r$  
to an int]m$i>y aggregator or s]vic]4   
7#b7 ,public organization ,! t]m public 
organization means1 ) respect to a ,/ate
 = :i* assi/ance "u ! ,h>de/ ,hit ,fund 
program is made available1 a public     
entity sep>ate f ! gov]nm5t ( su* ,/ate1
 includ+ a public corporation1 public l&
 bank1 or simil> entity =m$ "u ,/ate    
law4 ,su* t]m does n include an ag5cy ( 
! ,/ate gov]nm5t4 ,not)/&+ any provision
 ( title ,i ( ! ,em]g5cy ,economic      
,/abilization ,act ( #bjjh 7#ab         
,u4,s4,c4 #ebaa et seq471 su* t]m public
 includes entities t are n f9ancial     
in/itutions )9 ! mean+ giv5 su* t]m =   
purposes ( su* title ,i4  7#c7 ,relat$  
exp5ses ,! t]m relat$ exp5ses includes  
exp5ses ( acquir+ =eclos$-^u prop]ties  

to be demoli%$1 b if su* acquisition    
co/s = a prop]ty d n exce$ fair m>ket   
value ( ! prop]ty1 environm5tal cleanup 
( demolition sites1 f5c+ & m9or l&scap+ 
connect$ to su* demolition1 ma9t5ance1  
disposition1 & = su* o!r exp5ses z !    
,secret>y may provide4  7#d7 ,prop]ty ,!
 t]m prop]ty includes resid5tial &      
comm]cial prop]ties1 includ+ s+le-family
 & multifamily h\s+ & indu/rial         
prop]ties4