,,ii  #aac? ,,congress  #b;d ,session   
,s4 #bhic  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #ah1         
#bjad,mr4 ,moran 7= himself & ,ms4      
,heitkamp7 introduc$ ! foll[+ bill2 :i* 
0 read twice & ref]r$ to ! ,committee on
 ,bank+1 ,h\s+1 & ,urban ,affairs  ,a   
,,bill  ,to au?orize ! use ( multifamily
 h\s+ subject to a mortgage insur$ "u   
section #bjg ( ! ,national ,h\s+ ,act z 
%ort-t]m resid5tial h\s+4  #a4 ,%ort    
title ,?is ,act may be cit$ z ! ,work=ce
 ,resid5tial ,h\s+ ,act ( #bjad4  #b4   
,%ort-t]m resid5tial h\s+  7a7 ,9 g5]al 
,section #eac ( ! ,national ,h\s+ ,act  
7#ab ,u4,s4,c4 #agca;b7 is am5d$-- 7#a7 
9 subsection 7b7-- 7,a7 9 clause 7#a71  
by /rik+ or at ! end2 &  7,b7 by ins]t+ 
be=e ! p]iod at ! end ! foll[+3 1 or    
7#c7 ! project is a %ort-t]m resid5tial 
prop]ty 7z su* t]m is def9$ 9 subsection
 7e7 ( ?is section7 & is subject to a   
mortgage insur$ "u section #bjg 7#ab    
,u4,s4,c4 #agac71 provid$ t ! ,secret>y 
has made a det]m9ation pursuant to !    

/udy & report requir$ "u section #b7;b7 
( ! ,work=ce ,resid5tial ,h\s+ ,act (   
#bjad t ! provision ( su* insurance is  
appropriate2 &  7#b7 9 subsection 7e7-- 
7,a7 9 clause 7#a71 by /rik+ & at ! end2
 &  7,b7 by ins]t+ be=e ! p]iod at ! end
 ! foll[+3 1 & 7#c7 ! t]m %ort-t]m      
resid5tial prop]ty means multifamily    
h\s+ t 7,a7 has m ?an #ej dwell+ units t
 ea* conta9 a kit*51 includ+ a full     
refrig]ator & cook+ surface1 & ba?room  
facilities1 7,b7 provides mail boxes =  
ea* unit1 7,c7 r5ts su* units = a m9imum
 /ay ( #g days1 & 7,d7 does n provide   
food or bev]age s]vices1 includ+ 9-room 
s]vice1 daily maid s]vices1 furni%+ &   
laund]+ ( l95 )\t *>ge1 or bellhop      
s]vices4  7b7 ,/udy  7#a7 ,9 g5]al ,n   
lat] ?an #f mon?s aft] ! date ( enactm5t
 ( ?is ,act1 ! ,secret>y ( ,h\s+ &      
,urban ,developm5t %all-- 7,a7 conduct &
 complete a /udy evaluat+ ! risk ( !    
provision ( insurance "u section #bjg ( 
! ,national ,h\s+ ,act 7#ab ,u4,s4,c4   
#agac7 = %ort-t]m resid5tial prop]ties2 

&  7,b7 submit a report to ! ,committee 
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate & ! ,committee on ,f9ancial      
,s]vices ( ! ,h\se ( ,repres5tatives1   
:i* %all include-- 7i7 ! f9d+s ( ! /udy 
requir$ "u subp>agraph 7,a72 &  7ii7 a  
det]m9ation z to :e!r any additional    
risk pres5t$ to ! ,g5]al ,insurance     
,fund result+ f ! provision ( insurance 
"u section #bjg ( ! ,national ,h\s+ ,act
 7#ab ,u4,s4,c4 #agac7 = %ort-t]m       
resid5tial prop]ties is appropriate4    
7#b7 ,cont5ts ( /udy ,9 conduct+ ! /udy 
requir$ "u p>agraph 7#a77;,a71 !        
,secret>y ( ,h\s+ & ,urban ,developm5t  
%all-- 7,a7 evaluate :e!r ! provision ( 
insurance "u section #bjg ( ! ,national 
,h\s+ ,act 7#ab ,u4,s4,c4 #agac7 =      
%ort-t]m resid5tial prop]ties pres5ts   
any additional risk to ! ,g5]al         
,insurance ,fund2 &  7,b7 consid] any   
additional op]ational & logi/ical co/s  
associat$ ) provid+ su* insurance4  7#c7
 ,def9itions ,9 ?is subsection-- 7,a7 ! 
t]m ,g5]al ,insurance ,fund means ! fund

 e/abli%$ "u section #eai ( ! ,national 
,h\s+ ,act 7#ab ,u4,s4,c4 #agce;c72 &   
7,b7 ! t]m %ort-t]m resid5tial prop]ties
 has ! mean+ giv5 ! t]m "u section      
#eac7;e77#c7 ( ! ,national ,h\s+ ,act   
7#ab ,u4,s4,c4 #agca;b7e77#c771 z add$  
by subsection 7a74