,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #efja  ,,in ,,the ,,house ,,of  
,,representatives  ,september #ah1 #bjad
 ,mr4 ,grayson introduced the following 
bill2 which was referred to the         
,committee on ,financial ,services  ,a  
,,bill  ,to provide amounts from the    
recent settlement between the           
,department of ,justice and ,bank of    
,america for assistance under the       
,neighborhood ,stabilization ,program4  
#a4 ,short title ,this ,act may be cited
 as the ,foreclosure ,restitution ,act  
of #bjad4  #b4 ,use of settlement       
amounts  7a7 ,neighborhood stabilization
 assistance ,from any amounts received  
by the ,treasury as a civil monetary    
penalty pursuant to the settlement      
agreement specified in subsection 7e71  
#e1jjj1jjj1jjj is hereby appropriated1  
to remain available until expended1 for 
use only for providing assistance under 
title ,,iii of division ,b of the       
,housing and ,economic ,recovery ,act of
 #bjjh 7#db ,u4,s4,c4 #ecja note7 to    

units of general local government 7as   
such term is defined in section #ajb of 
the ,housing and ,community ,development
 ,act of #aigd 7#db ,u4,s4,c4 #ecjb771  
subject to subsections 7b71 7c71 and    
7d74  7b7 ,allocation and distribution  
,the amounts appropriated by subsection 
7a7 shall be--  7#a7 allocated to units 
of general local government based on a  
funding formula established by the      
,secretary of ,housing and ,urban       
,development that is based upon the     
number and percentage of home           
foreclosures in each such unit2 and     
7#b7 distributed according to such      
funding formula not later than #cj days 
after the establishment of such formula4
  7c7 ,inapplicable provisions of ,,nsp 
,the following provisions of title ,,iii
 of division ,b of the ,housing and     
,economic ,recovery ,act of #bjjh shall 
not apply to the assistance provided    
with amounts appropriated by subsection 
7a73  7#a7 ,subsection 7b7 of section   
#bcja 7#db ,u4,s4,c4 #ecja note2        

relating to allocation of appropriated  
amounts74  7#b7 ,subparagraphs 7,b7 and 
7,c7 of section #bcja7;c77#b7 7#db      
,u4,s4,c4 #ecja note2 relating to       
priority74  7#c7 ,paragraph 7#c7 of     
section #bcja7;c7 7#db ,u4,s4,c4 #ecja  
note2 relating to exception for certain 
,states74  7#d7 ,section #bcjb 7#db     
,u4,s4,c4 #ecja note2 relating to       
nationwide distribution of resources74  
7d7 ,eligible uses ,notwithstanding     
subsection 7a7 and paragraphs 7#a7 and  
7#d7 of subsection 7c7 of section #bcja 
of the ,housing and ,economic ,recovery 
,act of #bjjh 7#db ,u4,s4,c4 #ecja      
note71 amounts appropriated by          
subsection 7a7 of this section may be   
used by units of general local          
government to assist in providing       
affordable housing or to mitigate       
indirect costs relating to foreclosures 
on residential mortgages4  7e7          
,settlement agreement ,the settlement   
agreement specified in this subsection  
is the settlement agreement entered into

 ,august #bjad between the ,united      
,states acting through the ,united      
,states ,department of ,justice1 along  
with the ,states of ,california1        
,delaware1 ,illinois1 ,maryland1 and    
,new ,york1 and the ,commonwealth of    
,kentucky1 acting through their         
respective ,attorneys ,general1 and     
,bank of ,america ,corporation1 ,bank of
 ,america1 ,n4,a41 and ,banc of ,america
 ,mortgage ,securities1 as well as their
 current and former subsidiaries and    
affiliates4