,i  #aad? ,,congress  #a/ ,session  ,h4 
,r4 #bdhb  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #bj1 #bjae ,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 ( #bjae4  #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 ( #bjae1 !  
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]ty1 b only if ! own] is 9       

mat]ial compliance ) su* use agreem5t   
includ+ compliance ) prevail+ physical  
condition /&>ds e/abli%$ by ! ,secret>y2
 &  7,b7 not)/&+ any conflict+ provision
 9 su* use agreem5t1 any funds          
accumulat$ 9 a residual receipts acc\nt1
 b only if ! own] is 9 mat]ial          
compliance ) su* use agreem5t & has     
complet$1 or set aside suffici5t funds =
 completion (1 any capital repairs      
id5tifi$ by ! mo/ rec5t ?ird p>ty       
capital ne$s assessm5t4  7#b7 ,op]ation 
( prop]ty ,an own] t di/ributes any     
am\nts pursuant to p>agraph 7#a7 %all-- 
7,a7 cont9ue to op]ate ! prop]ty 9      
accordance ) ! af=dability provisions ( 
! use agreem5t = ! prop]ty = ! rema9+   
useful life ( ! prop]ty2  7,b7 z requir$
 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 = t5ants (   
dwell+ units n cov]$ by a project- or   
t5ant-bas$ r5tal subsidy1 any r5t       
increases result+ f ! ref9anc+          

transaction may n exce$ #aj p]c5t p]    
ye>1 except t--  7,a7 any t5ant occupy+ 
a dwell+ unit z ( "t ( ! ref9anc+ may n 
be requir$ to pay = r5t & utilities1 = !
 duration ( su* t5ancy1 an am\nt t      
exce$s ! great] (-- 7i7 #cj p]c5t ( !   
t5ant's income2 or  7ii7 ! am\nt paid by
 ! t5ant = r5t & utilities imm$iately   
be=e su* ref9anc+2 &  7,b7 ?is p>agraph 
%all n apply to any t5ant :o does n     
provide ! own] ) pro( ( income4         
,p>agraph 7#c7 may n be con/ru$ to limit
 any r5t increases result+ f increas$   
op]at+ co/s = a project4  4  #d4        
,implem5tation ,! ,secret>y ( ,h\s+ &   
,urban ,developm5t %all issue any       
guidance t ! ,secret>y consid]s necess>y
 to c>ry out ! provisions add$ by !     
am5dm5ts made by sections #b & #c n lat]
 ?an ! expiration ( ! #abj-;day p]iod   
beg9n+ on ! date ( ! enactm5t ( ?is     
,act4