,,ii  #aad? ,,congress  #b;d ,session   
,s4 #bghc  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #ab1 #bjaf,mrs4 
,%ahe5 introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to provide r5tal assi/ance to  
l[-income t5ants ( c]ta9 multifamily    
rural h\s+ projects1 & = o!r purposes4  
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,rural ,h\s+ ,pres]vation ,act (      
#bjaf4  #b4 ,availability ( rural h\s+  
v\*]s = t5ants 9 projects ) matur+ loans
  7a7 ,9 g5]al ,section #edb ( ! ,h\s+  
,act ( #aidi 7#db ,u4,s4,c4 #adijr7 is  
am5d$ by add+ at ! end ! foll[+3  7c7   
,rural v\*]s = t5ants ( projects )      
prepaid or matur+ loans  7#a7 ,au?ority 
,subject to ! availability ( am\nts     
provid$ 9 appropriation ,acts & to      
p>agraph 7#c71 ! ,secret>y %all provide 
rural h\s+ v\*]s "u ?is section1 9 !    
am\nt provid$ "u ?is section1 to any    
l[-income h\sehold 7includ+ ^? n receiv+
 r5tal assi/ance7 resid+ 9 a prop]ty    

f9anc$ ) a loan made or insur$ "u       
section #eae t has be5 prepaid or has   
matur$ aft] ,septemb] #cj1 #bjje4  7#b7 
,adm9i/ration & subsidies ,! ,secret>y  
%all1 to ! maximum ext5t practicable1   
adm9i/] & op]ate su* v\*]s ) curr5t     
regulations & adm9i/rative guidance     
applicable to enhanc$ v\*]s "u section  
#h7t7 ( ! ,unit$ ,/ates ,h\s+ ,act (    
#aicg 7#db ,u4,s4,c4 #adcg;f7t77 &      
adm9i/]$ by ! ,secret>y ( ,h\s+ & ,urban
 ,developm5t4 ,! am\nt ( r5tal assi/ance
 provid$ on behalf ( hold]s ( su* v\*]s 
%all be ! same z t provid$ on behalf (  
hold]s ( enhanc$ v\*]s "u su* section   
#h7t74  7#c7 ,t]m9ation ( assi/ance ,!  
,secret>y %all t]m9ate ! provision (    
v\*] assi/ance pursuant to ?is          
subsection1 ) respect to a prop]ty1 if--
  7,a7 at any "t1 a new loan is made or 
insur$ "u section #eae = ! prop]ty2 &   
7,b7 z a result ( su* loan1 r5tal       
assi/ance is provid$ on behalf ( ! v\*] 
hold] 9 an am\nt comp>able to ! r5tal   
assi/ance provid$ on behalf ( ! v\*]    

hold] "u ! v\*] program4  4  7b7        
,requirem5t = section #eae projects ,to 
accept v\*]s ,section #eae ( ! ,h\s+    
,act ( #aidi 7#db ,u4,s4,c4 #adhe7 is   
am5d$ by add+ at ! end ! foll[+3  7bb7  
,requirem5t ,to accept rural h\s+ v\*]s 
,no own] ( a prop]ty f9anc$ ) a loan    
made or insur$ "u ?is section1 :e!r su* 
loan is out/&+ or fully paid1 may refuse
 to lease an available dwell+ unit 9 !  
prop]ty to a h\sehold on behalf ( :om   
v\*] assi/ance is provid$ "u section    
#edb1 & to ent] into a v\*] contract    
respect+ su* unit1 a proximate cause (  
:i* is ! /atus ( su* curr5t or          
prospective t5ant z a hold] ( su* v\*]4 
4  #c4 ,dec\pl+ r5tal assi/ance f matur+
 rural h\s+ loans ,section #eba7;a77#b7 
( ! ,h\s+ ,act ( #aidi 7#db ,u4,s4,c4   
#adij;a7a77#b77 is am5d$ by add+ at !   
end ! foll[+3  7,f7 ,r5tal assi/ance =  
projects ) matur$ loans  7i7 ,au?ority  
,to cont9ue to make dec5t1 safe &       
sanit>y h\s+ available to l[-income     
occupants ( projects orig9ally f9anc$ ) 

a loan made or insur$ "u section #eae t 
has matur$ on or aft] ! date ( enactm5t 
( ?is subp>agraph1 & at r5tal rates     
comm5surate to income z specifi$ 9      
subp>agraph 7,a7 ( ?is p>agraph1 !      
,secret>y may1 subject to ! availability
 ( am\nts provid$ 9 appropriation ,acts1
 contract to make & r5ew annual         
assi/ance paym5ts pursuant to ?is       
subp>agraph to ! own]s ( su* projects4  
7ii7 ,(f] ,! ,secret>y %all ensure t an 
(f] to provide a contract = assi/ance   
paym5ts pursuant to ?is subp>agraph %all
 be ext5d$ to all own]s ( projects      
describ$ 9 clause 7i7 n lat] ?an #bd    
mon?s be=e ! maturation ( ! loan 7except
 9 ! case ( loans matur+ aft] ! date t  
is #bd mon?s be=e ! date ( enactm5t (   
?is subp>agraph74  7iii7 ,t]ms ,ea*     
contract = assi/ance paym5ts pursuant to
 ?is subp>agraph %all-- 7,i7 h a t]m (  
#bj ye>s & be subject to availability ( 
am\nts provid$ 9 annual appropriations  
,acts2  7,,ii7 cov] all new & exi/+     
h\seholds resid+ 9 ! project1 reg>dless 

( :e!r or n !y 7 previ\sly assi/$ "u !  
r5tal assi/ance program au?oriz$ "u     
subp>agraph 7,a72  7,,iii7 be record$ at
 su* local real prop]ty record+ (fice z 
is prescrib$ by ! ,/ate 9 :i* ! project 
is locat$2  7,,iv7 b9d ! own] ( !       
project & ! own]'s successors to cont9ue
 to op]ate ! project 9 accordance ) su* 
agreem5ts2  7,v7 require ! own] 7& su*  
successors7 to agree to cont9ue to      
op]ate ! projects z if x 7 subject to an
 exi/+ loan "u section #eae2  7,,vi7    
ext5d to resid5ts ( ! project all !     
rights t at ! "t su* contract is ent]$  
into are ext5d$ to resid5ts ( projects  
subject to an exi/+ loan "u section     
#eae2 &  7,,vii7 require ! own] 7& su*  
successors7 to ma9ta9 ! assi/$ h\s+ z   
dec5t1 safe1 & sanit>y h\s+4  7iv7      
,actual m>ket r5tals  7,i7 ,9 g5]al ,a  
contract = assi/ance provid$ pursuant to
 ?is subp>agraph = a project %all       
provide assi/ance to ! own] bas$ on an  
initial reasonable op]at+ budget ! r5ts 
= :i* d n exce$ su* actual m>ket r5tal  

rates = ! area 9 :i* ! project is       
locat$1 z are e/abli%$ by ! ,secret>y4  
7,,ii7 ,adju/m5t2 r5ewal ,! ,secret>y   
%all annually adju/ ! actual m>ket r5tal
 rates us$ = purposes ( ?is clause4  7v7
 ,r5ewal2 adju/m5t ,9 provid+ assi/ance 
pursuant to ?is subp>agraph1 ! ,secret>y
 %all require ! own] ( ! project to r5ew
 ! assi/ance provid$ to ea* h\sehold n  
less frequ5tly ?an annually1 9          
accordance ) ! provisions ( subp>agraph 
7,a71 & %all adju/ ! am\nt ( assi/ance  
provid$ to a h\sehold at any o!r "t ^u a
 decrease 9 ! h\sehold's mon?ly income (
 #ajj or m4  7vi7 ,adm9i/ration ,r5tal  
assi/ance contracts au?oriz$ by ?is     
subp>agraph %all1 except z o!rwise      
provid$ 9 ?is subp>agraph1 be adm9i/]$  
by ! ,secret>y 9 ! same mann] z r5tal   
assi/ance contracts = projects hav+     
exi/+ loans made or insur$ "u section   
#eae or exi/+ loans & grants made "u    
sections #ead & #eaf4  4  #d4 ,uni=m    
/&>ds = transf]s ( section #eae         
prop]ties us+ l[-income tax cr$its      

,section #eae ( ! ,h\s+ ,act ( #aidi    
7#db ,u4,s4,c4 #adhe71 z am5d$ by ?is   
,act1 is am5d$ by add+ at ! end !       
foll[+3  7cc7 ,requirem5ts = transf]s ( 
prop]ties involv+ l[-,income h\s+ tax   
cr$its ,! ,secret>y %all e/abli%1 )\t   
exception1 uni=m requirem5ts1 t]ms1 &   
conditions = any sale or transf] ( a    
prop]ty f9anc$ ) a loan "u ?is section  
to any entity1 includ+ a nonpr(it       
organization1 t is seek+ to acquire su* 
prop]ty ) am\nts au?oriz$ "u ?is section
 & any l[-income h\s+ tax cr$it "u      
section #db ( ! ,int]nal ,rev5ue ,code (
 #aihf4  4  #e4 ,rural multifamily h\s+ 
revitalization program ,section #eae ( !
 ,h\s+ ,act ( #aidi 7#db ,u4,s4,c4      
#adhe71 z am5d$ by ?is ,act1 is am5d$ by
 add+ at ! end ! foll[+3  7dd7          
,multifamily h\s+ revitalization program
  7#a7 ,9 g5]al ,! ,secret>y may e/abli%
 a ,multifamily ,h\s+ ,revitalization   
,program = ! pres]vation &              
revitalization ( multifamily h\s+       
projects fund$ ) loans made available   

pursuant to ?is section & sections #ead 
& #eaf to ensure t su* projects h       
suffici5t res\rces to provide safe &    
af=dable h\s+ = l[-income resid5ts & f>m
 labor]s4  7#b7 ,options ,9 c>ry+ out   
p>agraph 7#a71 ! ,secret>y may-- 7,a7 ) 
respect su* loans--  7i7 r$uce or       
elim9ate int]e/2  7ii7 def] loan        
paym5ts2 &  7iii7 subord9ate1 r$uce1 or 
reamortize loan debt2 &  7,b7 provide   
o!r f9ancial assi/ance1 includ+--  7i7  
advances2 &  7ii7 paym5ts & inc5tives   
7includ+ ! ability ( own]s to obta9     
reasonable returns on inve/m5t74  7#c7  
,requirem5ts ,9 ex*ange = assi/ance     
provid$ pursuant to ?is subsection1 !   
,secret>y %all ent] into ) ! prop]ty    
own] a re/rictive use agreem5t to ensure
 t ! prop]ty rema9s subject to l[-income
 use re/rictions = an additional p]iod (
 "t consi/5t ) ! t]ms ( ! re/ructur+4   
7#d7 ,use ( funds = rural h\s+ v\*]s    
7,a7 ,au?ority ,if ! ,secret>y det]m9es 
t additional funds = v\*]s "u ! rural   
h\s+ v\*] program "u section #edb are   

ne$$1 funds = ! revitalization program  
"u ?is subsection may be us$ = su* v\*]s
 = any l[-income h\sehold 7includ+ ^? n 
receiv+ r5tal assi/ance7 resid+ 9 a     
prop]ty f9anc$ ) a loan "u ?is section t
 has be5 prepaid aft] ,septemb] #cj1    
#bjje4  7,b7 ,am\nt ,not)/&+ section    
#edb1 ! am\nt ( a v\*] provid$ pursuant 
to ?is p>agraph %all be ! diff]5ce      
betwe5 comp>able m>ket r5t = ! unit & ! 
t5ant-paid r5t = su* unit4  7,c7        
,availability ,funds made available =   
v\*]s pursuant to ?is p>agraph %all be  
subject to ! availability ( annual      
appropriations4  7,d7 ,adm9i/ration ,!  
,secret>y %all1 to ! maximum ext5t      
practicable1 adm9i/] v\*]s provid$      
pursuant to ?is p>agraph ) curr5t       
regulations & adm9i/rative guidance     
applicable to h\s+ v\*]s "u section #h (
 ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db
 ,u4,s4,c4 #adcg;f7 adm9i/]$ by !       
,secret>y ( ,h\s+ & ,urban ,developm5t4 
4  #f4 ,regulations ,n lat] ?an #abj    
days aft] ! date ( enactm5t ( ?is ,act1 

! ,secret>y ( ,agriculture %all issue   
regulations necess>y to c>ry out !      
am5dm5ts made by ?is ,act4