,i  #aac? ,,congress  #b;d ,session  ,h4
 ,r4 #dadf  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #d1 #bjad ,mr4   
,pauls5 introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to am5d !         
,l[-,income ,h\s+ ,pres]vation &        
,resid5t ,home[n]%ip ,act ( #aiij4  #a4 
,%ort title ,?is ,act may be cit$ z !   
,pres]vation ,enhancem5t & ,sav+s       
,opportunity ,act ( #bjad4  #b4         
,di/ributions & residual receipts       
,section #bbb ( ! ,l[-,income ,h\s+     
,pres]vation & ,resid5t ,home[n]%ip ,act
 ( #aiij 7#ab ,u4,s4,c4 #daab7 is am5d$ 
by add+ at ! end ! foll[+ new           
subsection3  7e7 ,di/ribution & residual
 receipts  7#a7 ,au?ority ,aft] ! date (
 ! enactm5t ( ! ,pres]vation ,enhancem5t
 & ,sav+s ,opportunity ,act ( #bjad1 !  
own] ( a prop]ty subject to a plan (    
action or use agreem5t pursuant to ?is  
section %all be entitl$ to di/ribute--  
7,a7 annually1 all surplus ca% g5]at$ by
 ! prop]ty2 &  7,b7 ^u reque/ made to ! 

,secret>y & not)/&+ any conflict+       
provision 9 su* use agreem5t2 any funds 
accumulat$ 9 a residual receipts acc\nt1
 b only if ! own] is 9 mat]ial          
compliance ) su* use agreem5t4  7#b7    
,op]ation ( prop]ty ,an own] t          
di/ributes any am\nts pursuant to       
p>agraph 7#a7 %all--  7,a7 cont9ue to   
op]ate ! prop]ty 9 accordance ) !       
af=dability provisions ( ! use agreem5t 
= ! prop]ty = ! rema9+ useful life ( !  
prop]ty2  7,b7 z requir$ by ! plan (    
action = ! prop]ty1 cont9ue to r5ew or  
ext5d any project-bas$ r5tal assi/ance  
contract = a t]m ( n less ?an #bj ye>s2 
&  7,c7 if ! own] has an exi/+ multi-ye>
 project-bas$ r5tal assi/ance contract =
 less ?an #bj ye>s1 h ! option to ext5d 
! contract to a #bj-ye> t]m4  4  #c4    
,future ref9anc+s ,section #bad ( !     
,l[-,income ,h\s+ ,pres]vation &        
,resid5t ,home[n]%ip ,act ( #aiij 7#ab  
,u4,s4,c4 #dajd7 is am5d$ by add+ at !  
end ! foll[+ new subsection3  7c7       
,future f9anc+ ,nei!r ?is section1 nor  

any plan ( action or use agreem5t       
implem5t+ ?is section1 %all re/rict an  
own] f obta9+ a new loan or ref9anc+ an 
exi/+ loan secur$ by ! project1 or f    
di/ribut+ ! proce$s ( su* a loan2 except
 t1 9 conjunction ) su* ref9anc+--  7#a7
 ! own] %all provide = adequate         
rehabilitation pursuant to a capital    
ne$s assessm5t to ensure long-t]m       
su/a9ability ( ! prop]ty satisfactory to
 ! l5d] or bond issuance ag5cy2  7#b7   
any result+ budget-bas$ r5t increase    
%all include debt s]vice on ! new       
f9anc+1 comm]cially reasonable debt     
s]vice cov]age1 & replacem5t res]ves z  
requir$ by ! l5d]2 &  7#c7 r5t increases
 = units n cov]$ by a project-bas$ r5tal
 subsidy contract or t5ant-bas$ r5tal   
subsidy %all be limit$ to #aj p]c5t4  4