,i #aacth ,,congress #ast ,session ,h4 ,r4 #bcci ,,in ,,the ,,house ,,of ,,representatives ,june #ab1 #bjac ,mr4 ,polis introduced the following bill2 which was referred to the ,committee on ,financial ,services1 and in addition to the ,committee on ,energy and ,commerce1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to facilitate affordable workforce homeownership in1 and develop the full-time resident communities of1 high tourism areas1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,affordable ,housing ,regulation ,simplification ,act of #bjac4 #b4 ,inapplicability of certain ,fannie ,mae and ,freddie ,mac guidelines to affordable workforce housing mortgages 7a7 ,fannie ,mae ,subsection 7b7 of section #cjb of the ,federal ,national ,mortgage ,association ,charter ,act 7#ab ,u4,s4,c4 #agag7;b77 is amended by adding at the end the following new paragraph3 7#g7 ,mortgages for affordable workforce housing 7,a7 ,exemptions from guidelines ,notwithstanding any other provision of law-- 7i7 the corporation may purchase1 service1 sell1 lend on the security of1 and otherwise deal in any affordable workforce housing mortgage2 and 7ii7 any requirements and guidelines of the corporation that are inconsistent with the authority under clause 7i7 shall not apply to any affordable workforce housing mortgage4 7,b7 ,affordable workforce housing mortgages ,for purposes of this paragraph1 the term affordable workforce housing mortgage means a mortgage that meets the following requirements3 7i7 ,property ,the mortgage shall be made for the purchase of1 and secured by1 a one-family residence that-- 7,i7 shall be used as the residence of the mortgagor for not less than #h of any #ab months and #bdj days of any #cfe days2 7,,ii7 is located within or is part of a multifamily housing development-- 7aa7 that consists of #e or more dwelling units or a mixed-use development that is not less than #ej percent residential1 as defined in the legal description of the property in the purchase contract or mortgage or title documents relating to such purchase1 or1 if the development is less than #ej percent residential1 has been granted an exception by the corporation2 7bb7 of which not less than #be percent of the dwelling units in the development are owner-occupied2 except that the requirement under this item shall be considered to be complied with1 with respect to a development1 unless verifiable public records indicate an owner-occupancy rate for the development of less than #be percent2 7cc7 that provides individual1 centralized1 or any other method of metering for energy use of the constituent dwelling units2 7dd7 that may include dwelling units that are used for the sole purpose of short-term rentals and may provide such services as a staffed front desk1 a concierge1 or other amenities consistent with providing customer service for non-owner occupied or short-term rental units in the development1 including marketing that describes the property as a lodge1 resort1 or other similar facility2 and 7ee7 of which1 if at least #ej percent of the total units are under contract for owner-occupancy1 not more than #ej percent of the total dwelling units are owned by the same investor2 and any multifamily housing development that otherwise complies with the requirements under this subclause may not be considered ineligible because the development or any portion of the development is called or referred to as a condotel1 condo-hotel1 lodge1 or any other title2 7,,iii7 is subject to resale restrictions that-- 7aa7 are recorded with the appropriate public registry for recording of titles and interests in real estate2 and 7bb7 terminate upon foreclosure or execution of any deed-in-lieu-of-foreclosure2 and 7,,iv7 is located in an area that1 at the time of the origination of the mortgage1 is a high tourism area4 7ii7 ,mortgagor income ,the household of the mortgagor shall have a gross household income-- 7,i7 that does not exceed #afj percent of the area median income1 as determined and updated by the ,secretary of ,housing and ,urban ,development or the ,director of the ,federal ,housing ,finance ,agency on an annual basis2 and 7,,ii7 not less than #ge percent of which is earned from positions the discharge of whose duties involved physical presence in one or more high tourism areas4 7iii7 ,employment ,the mortgagor or another member of the mortgagor's household-- 7,i7 has been employed1 during the #f-month period ending upon execution of the mortgage1 in a position or multiple positions the discharge of whose duties involved physical presence in one or more high tourism areas1 in the aggregate1 for an average of not less than #cj hours per weeks2 7,,ii7 is employed at the time of the execution of the mortgage in a position or multiple positions the discharge of whose duties involve physical presence in one or more high tourism areas1 in the aggregate1 for an average of not less than #cj hours per week and the duration of such employment in such position is expected to last at least #f months2 7,,iii7 is #fj years of age or older and1 during the #e-year period ending up the mortgagor's retirement from employment was employed in a position or positions the discharge of whose duties involved physical presence in one or more high tourism areas for-- 7aa7 an average of not less than #cj hours per week2 and 7bb7 for not less than #h months per year2 7,,iv7 is a person with disabilities 7as such term is defined in section #haa7k7 of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #hjac77 who-- 7aa7 was employed1 during the #b-year period ending upon becoming disabled1 in a position or positions described in subclause 7,i7 or 7,,ii72 or 7bb7 is employed in a position or positions described in subclause 7,i7 or 7,,ii71 except that the #cj-;hour requirement under such subclauses shall not apply to such person if-- 7,,aa7 compliance with such requirement would make such person ineligible for benefits made available for persons with disabilities through a program of any ,state agency for developmental disabilities or through the supplemental security income program under title ,,xvi of the ,social ,security ,act2 and 7,,bb7 such person works the maximum number of hours per week allowable for eligibility for benefits under such program2 or 7,v7 is the head of household in a household that includes one or more dependents1 at least one of whom is at the time of the execution of the mortgage #e years of age or younger or is enrolled full-time in a school in a high tourism area4 7iv7 ,conforming loan ,the original principal obligation of the mortgage shall comply with the applicable dollar amount limitations established pursuant to paragraph 7#b74 7,c7 ,high tourism area ,for purposes of this paragraph1 the term high tourism area means any county that is designated as a high tourism county pursuant to section #e of the ,affordable ,housing ,regulation ,simplification ,act of #bjac4 4 7b7 ,freddie ,mac ,subsection 7a7 of section #cje of the ,federal ,home ,loan ,mortgage ,corporation ,act 7#ab ,u4,s4,c4 #aded7;a77 is amended by adding at the end the following new paragraph3 7#f7 ,mortgages for affordable workforce housing 7,a7 ,exemptions from guidelines ,notwithstanding any other provision of law-- 7i7 the ,corporation may purchase1 service1 sell1 lend on the security of1 and otherwise deal in any affordable workforce housing mortgage2 and 7ii7 any requirements and guidelines of the ,corporation that are inconsistent with the authority under clause 7i7 shall not apply to any affordable workforce housing mortgage4 7,b7 ,affordable workforce housing mortgages ,for purposes of this paragraph1 the term affordable workforce housing mortgage means a mortgage that meets the following requirements3 7i7 ,property ,the mortgage shall be made for the purchase of1 and secured by1 a one-family residence that-- 7,i7 shall be used as the residence of the mortgagor for not less than #h of any #ab months and #bdj days of any #cfe days2 7,,ii7 is located within or is part of a multifamily housing development-- 7aa7 that consists of #e or more dwelling units or a mixed-use development that is not less than #ej percent residential1 as defined in the legal description of the property in the purchase contract or mortgage or title documents relating to such purchase1 or1 if the development is less than #ej percent residential1 has been granted an exception by the ,corporation2 7bb7 of which not less than #be percent of the dwelling units in the development are owner-occupied2 except that the requirement under this item shall be considered to be complied with1 with respect to a development1 unless verifiable public records indicate an owner-occupancy rate for the development of less than #be percent2 7cc7 that provides individual1 centralized1 or any other method of metering for energy use of the constituent dwelling units2 7dd7 that may include dwelling units that are used for the sole purpose of short-term rentals and may provide such services as a staffed front desk1 a concierge1 or other amenities consistent with providing customer service for non-owner occupied or short-term rental units in the development1 including marketing that describes the property as a lodge1 resort1 or other similar facility2 and 7ee7 of which1 if at least #ej percent of the total units are under contract for owner-occupancy1 not more than #ej percent of the total dwelling units are owned by the same investor2 and any multifamily housing development that otherwise complies with the requirements under this subclause may not be considered ineligible because the development or any portion of the development is called or referred to as a condotel1 condo-hotel1 lodge1 or any other title2 7,,iii7 is subject to resale restrictions that-- 7aa7 are recorded with the appropriate public registry for recording of titles and interests in real estate2 and 7bb7 terminate upon foreclosure or execution of any deed-in-lieu-of-foreclosure2 and 7,,iv7 is located in an area that1 at the time of the origination of the mortgage1 is a high tourism area4 7ii7 ,mortgagor income ,the household of the mortgagor shall have a gross household income-- 7,i7 that does not exceed #afj percent of the area median income1 as determined and updated by the ,secretary of ,housing and ,urban ,development or the ,director of the ,federal ,housing ,finance ,agency on an annual basis2 and 7,,ii7 not less than #ge percent of which is earned from positions the discharge of whose duties involved physical presence in one or more high tourism areas4 7iii7 ,employment ,the mortgagor or another member of the mortgagor's household-- 7,i7 has been employed1 during the #f-month period ending upon execution of the mortgage1 in a position or multiple positions the discharge of whose duties involved physical presence in one or more high tourism areas1 in the aggregate1 for an average of not less than #cj hours per weeks2 7,,ii7 is employed at the time of the execution of the mortgage in a position or multiple positions the discharge of whose duties involve physical presence in one or more high tourism areas1 in the aggregate1 for an average of not less than #cj hours per week and the duration of such employment in such position is expected to last at least #f months2 7,,iii7 is #fj years of age or older and1 during the #e-year period ending up the mortgagor's retirement from employment was employed in a position or positions the discharge of whose duties involved physical presence in one or more high tourism areas for-- 7aa7 an average of not less than #cj hours per week2 and 7bb7 for not less than #h months per year2 7,,iv7 is a person with disabilities 7as such term is defined in section #haa7k7 of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #hjac77 who-- 7aa7 was employed1 during the #b-year period ending upon becoming disabled1 in a position or positions described in subclause 7,i7 or 7,,ii72 or 7bb7 is employed in a position or positions described in subclause 7,i7 or 7,,ii71 except that the #cj-;hour requirement under such subclauses shall not apply to such person if-- 7,,aa7 compliance with such requirement would make such person ineligible for benefits made available for persons with disabilities through a program of any ,state agency for developmental disabilities or through the supplemental security income program under title ,,xvi of the ,social ,security ,act2 and 7,,bb7 such person works the maximum number of hours per week allowable for eligibility for benefits under such program2 or 7,v7 is the head of household in a household that includes one or more dependents1 at least one of whom is at the time of the execution of the mortgage #e years of age or younger or is enrolled full-time in a school in a high tourism area4 7iv7 ,conforming loan ,the original principal obligation of the mortgage shall comply with the applicable dollar amount limitations established pursuant to paragraph 7#b74 7,c7 ,high tourism area ,for purposes of this paragraph1 the term high tourism area means any county that is designated as a high tourism county pursuant to section #e of the ,affordable ,housing ,regulation ,simplification ,act of #bjac4 4 #c4 ,insurance of affordable workforce housing mortgages by ,,fha ,section #bjc of the ,national ,housing ,act 7#ab ,u4,s4,c4 #agji7 is amended by adding at the end the following new subsection3 7y7 ,mortgages for affordable workforce housing 7#a7 ,insurance authority ,the ,secretary may insure under this section any affordable workforce housing mortgage meeting the requirements of subsection 7b7 of this section1 except as modified by this subsection4 7#b7 ,exemptions ,notwithstanding any other provision of law1 any requirements and guidelines of the ,secretary that are inconsistent with the authority under paragraph 7#a7 shall not apply to any affordable workforce housing mortgage4 7#c7 ,affordable workforce housing mortgages ,for purposes of this subsection1 the term affordable workforce housing mortgage means a mortgage that meets the following requirements3 7,a7 ,property ,the mortgage shall be made for the purchase of1 and secured by1 a one-family residence that-- 7i7 shall be used as the residence of the mortgagor for not less than #h of any #ab months and #bdj days of any #cfe days2 7ii7 is located within or is part of a multifamily housing development-- 7,i7 that consists of #e or more dwelling units or a mixed-use development that is not less than #ej percent residential1 as defined in the legal description of the property in the purchase contract or mortgage or title documents relating to such purchase1 or1 if the development is less than #ej percent residential1 has been granted an exception by the ,secretary2 7,,ii7 of which not less than #be percent of the dwelling units in the development are owner-occupied2 except that the requirement under this item shall be considered to be complied with1 with respect to a development1 unless verifiable public records indicate an owner-occupancy rate for the development of less than #be percent2 7,,iii7 that provides individual1 centralized1 or any other method of metering for energy use of the constituent dwelling units2 7,,iv7 that may include dwelling units that are used for the sole purpose of short-term rentals and may provide such services as a staffed front desk1 a concierge1 or other amenities consistent with providing customer service for non-owner occupied or short-term rental units in the development1 including marketing that describes the property as a lodge1 resort1 or other similar facility2 and 7,v7 of which1 if at least #ej percent of the total units are under contract for owner-occupancy1 not more than #ej percent of the total dwelling units are owned by the same investor2 and any multifamily housing development that otherwise complies with the requirements under this clause may not be considered ineligible because the development or any portion of the development is called or referred to as a condotel1 condo-hotel1 lodge1 or any other title2 7iii7 is subject to resale restrictions that-- 7,i7 are recorded with the appropriate public registry for recording of titles and interests in real estate2 and 7,,ii7 terminate upon foreclosure or execution of any deed-in-lieu-of-foreclosure2 and 7iv7 is located in an area that1 at the time of the origination of the mortgage1 is a high tourism area4 7,b7 ,mortgagor income ,the household of the mortgagor shall have a gross household income-- 7i7 that does not exceed #afj percent of the area median income1 as determined and updated by the ,secretary on an annual basis2 and 7ii7 not less than #ge percent of which is earned from positions the discharge of whose duties involved physical presence in one or more high tourism areas4 7,c7 ,employment ,the mortgagor or another member of the mortgagor's household-- 7i7 has been employed1 during the #f-month period ending upon execution of the mortgage1 in a position or multiple positions the discharge of whose duties involved physical presence in one or more high tourism areas1 in the aggregate1 for an average of not less than #cj hours per weeks2 7ii7 is employed at the time of the execution of the mortgage in a position or multiple positions the discharge of whose duties involve physical presence in one or more high tourism areas1 in the aggregate1 for an average of not less than #cj hours per week and the duration of such employment in such position is expected to last at least #f months2 7iii7 is #fj years of age or older and1 during the #e-year period ending up the mortgagor's retirement from employment was employed in a position or positions the discharge of whose duties involved physical presence in one or more high tourism areas for-- 7,i7 an average of not less than #cj hours per week2 and 7,,ii7 for not less than #h months per year2 7iv7 is a person with disabilities 7as such term is defined in section #haa7k7 of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #hjac77 who-- 7,i7 was employed1 during the #b-year period ending upon becoming disabled1 in a position or positions described in clause 7i7 or 7ii72 or 7,,ii7 is employed in a position or positions described in clause 7i7 or 7ii71 except that the #cj-;hour requirement under such clauses shall not apply to such person if-- 7aa7 compliance with such requirement would make such person ineligible for benefits made available for persons with disabilities through a program of any ,state agency for developmental disabilities or through the supplemental security income program under title ,,xvi of the ,social ,security ,act2 and 7bb7 such person works the maximum number of hours per week allowable for eligibility for benefits under such program2 or 7v7 is the head of household in a household that includes one or more dependents1 at least one of whom is at the time of the execution of the mortgage #e years of age or younger or is enrolled full-time in a school in a high tourism area4 7,d7 ,loan limit ,the original principal obligation of the mortgage shall comply with the applicable dollar amount limitations under subsection 7b77#b74 7#d7 ,high tourism area ,for purposes of this paragraph1 the term high tourism area means any county that is designated as a high tourism county pursuant to section #e of the ,affordable ,housing ,regulation ,simplification ,act of #bjac4 4 #d4 ,,fha authority for spot approval of mortgages for condominium units ,section #bcd of the ,national ,housing ,act 7#ab ,u4,s4,c4 #agaey7 is amended by adding at the end the following new subsection3 7l7 ,authority for spot approvals ,in the case of individual mortgages for one-family units in a multifamily project and an undivided interest in the common areas and facilities that serve the project and affordable workforce housing mortgages 7as such term is defined in section #bjc7y771 the ,secretary shall provide an approval process for insurance of such mortgages that does not require prior approval of the entire project or of the homeowners association for the entire project4 4 #e4 ,determination of high tourism areas ,the ,secretary of ,commerce shall1 by notice issued not later than ,december #ca1 #bjad-- 7#a7 establish a procedure and metric for assessing1 for counties in all ,states throughout the ,united ,states1 the economic impact of tourism on such counties2 7#b7 establish a minimum threshold for such economic activity for use for designating counties as high tourism counties2 and 7#c7 pursuant to such procedure1 metric1 and threshold1 designate the counties in the ,united ,states that are high tourism counties at the time of such designation4 ,the ,secretary of ,commerce shall reassess and update such designations on a biennial basis4