,,ib  ,union ,cal5d> ,no4 #aef  #aaf?   
,,congress  #a/ ,session  ,h4 ,r4 #cfbj 
,report ,no4 #aaf-aih  ,,9 ,,! ,,h\se   
,,( ,,repres5tatives  ,july #e1 #bjai   
,mr4 ,clay 7= himself & ,mr4 ,cleav]7   
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices     
,septemb] #f1 #bjai;,additional         
sponsors3 ,mrs4 ,axne1 ,mr4 ,lawson (   
,florida1 & ,mr4 ,david ,scott (        
,georgia  ,septemb] #f1 #bjai ,report$ )
 an am5dm5t1 committ$ to ! ,committee ( 
! ,:ole ,h\se on ! ,/ate ( ! ,union1 &  
ord]$ to be pr9t$ ,/rike out all aft] ! 
enact+ clause & ins]t ! "p pr9t$ 9      
italic ,= text ( introduc$ bill1 see    
copy ( bill z introduc$ on ,july #e1    
#bjai  ,a ,,bill  ,to provide r5tal     
assi/ance to l[-income t5ants 9 c]ta9   
multifamily rural h\s+ projects f9anc$  
by ! ,rural ,h\s+ ,s]vice ( ! ,dep>tm5t 
( ,agriculture1 & to develop & implem5t 
a plan = pres]v+ ! af=dability ( rural  
r5tal h\s+1 & = o!r purposes4  #a4 ,%ort
 title ,?is ,act may be cit$ z !        

,/rategy & ,inve/m5t 9 ,rural ,h\s+     
,pres]vation ,act ( #bjai4  #b4 ,p]man5t
 e/abli%m5t ( h\s+ pres]vation &        
revitalization program ,title ,v ( !    
,h\s+ ,act ( #aidi 7#db ,u4,s4,c4 #adga 
et seq47 is am5d$ by add+ at ! end !    
foll[+ new section3  #ede4 ,h\s+        
pres]vation & revitalization program    
7a7 ,e/abli%m5t ,! ,secret>y %all c>ry  
out a program "u ?is section = !        
pres]vation & revitalization (          
multifamily r5tal h\s+ projects f9anc$  
"u section #eae or bo? sections #ead &  
#eaf4  7b7 ,notice ( matur+ loans  7#a7 
,to own]s ,on an annual basis1 !        
,secret>y %all provide writt5 notice to 
ea* own] ( a prop]ty f9anc$ "u section  
#eae or bo? sections #ead & #eaf t w    
mature )9 ! #d-ye> p]iod beg9n+ ^u !    
provision ( su* notice1 sett+ =? !      
options & f9ancial inc5tives t are      
available to facilitate ! ext5sion ( !  
loan t]m or ! option to dec\ple a r5tal 
assi/ance contract pursuant to          
subsection 7f74  7#b7 ,to t5ants  7,a7  

,9 g5]al ,= ea* prop]ty f9anc$ "u       
section #eae or bo? sections #ead &     
#eaf1 n lat] ?an ! date t is #b ye>s    
be=e ! date t su* loan w mature1 !      
,secret>y %all provide writt5 notice to 
ea* h\sehold resid+ 9 su* prop]ty t     
in=ms !m ( ! date ( ! loan maturity1 !  
possible actions t may happ5 ) respect  
to ! prop]ty ^u su* maturity1 & h[ to   
protect _! "r to reside 9 f$]ally assi/$
 h\s+ aft] su* maturity4  7,b7 ,language
 ,notice "u ?is p>agraph %all be provid$
 9 pla9 ,engli% & %all be translat$ to  
o!r languages 9 ! case ( any prop]ty    
locat$ 9 an area 9 :i* a significant    
numb] ( resid5ts speak su* o!r          
languages4  7c7 ,loan re/ructur+ ,"u !  
program "u ?is section1 ! ,secret>y may 
re/ructure su* exi/+ h\s+ loans1 z !    
,secret>y consid]s appropriate1 = !     
purpose ( ensur+ t su* projects h       
suffici5t res\rces to pres]ve ! projects
 to provide safe & af=dable h\s+ =      
l[-income resid5ts & f>m labor]s1 by--  
7#a7 r$uc+ or elim9at+ int]e/2  7#b7    

def]r+ loan paym5ts2  7#c7 subord9at+1  
r$uc+1 or reamortiz+ loan debt2 &  7#d7 
provid+ o!r f9ancial assi/ance1 includ+ 
advances1 paym5ts1 & inc5tives 7includ+ 
! ability ( own]s to obta9 reasonable   
returns on inve/m5t7 requir$ by !       
,secret>y4  7d7 ,r5ewal ( r5tal         
assi/ance ,:5 ! ,secret>y (f]s to       
re/ructure a loan pursuant to subsection
 7c71 ! ,secret>y %all (f] to r5ew !    
r5tal assi/ance contract "u section     
#eba7;a77#b7 = a #bj-ye> t]m t is       
subject to annual appropriations1       
provid$ t ! own] agrees to br+ ! prop]ty
 up to su* /&>ds t w ensure its         
ma9t5ance z dec5t1 safe1 & sanit>y h\s+ 
= ! full t]m ( ! r5tal assi/ance        
contract4  7e7 ,re/rictive use agreem5ts
  7#a7 ,requirem5t ,z "p ( ! pres]vation
 & revitalization agreem5t = a project1 
! ,secret>y %all obta9 a re/rictive use 
agreem5t t obligates ! own] to op]ate ! 
project 9 accordance ) ?is title4  7#b7 
,t]m  7,a7 ,no ext5sion ( r5tal         
assi/ance contract ,except :5 !         

,secret>y ent]s into a #bj-ye> ext5sion 
( ! r5tal assi/ance contract = !        
project1 ! t]m ( ! re/rictive use       
agreem5t = ! project %all be consi/5t ) 
! t]m ( ! re/ructur$ loan = ! project4  
7,b7 ,ext5sion ( r5tal assi/ance        
contract ,if ! ,secret>y ent]s into a   
#bj-ye> ext5sion ( ! r5tal assi/ance    
contract = a project1 ! t]m ( !         
re/rictive use agreem5t = ! project %all
 be = #bj ye>s4  7,c7 ,t]m9ation ,!     
,secret>y may t]m9ate ! #bj-ye> use     
re/rictive use agreem5t = a project     
prior to ! end ( its t]m if ! #bj-ye>   
r5tal assi/ance contract = ! project ) !
 own] is t]m9at$ at any "t = reasons    
outside ! own]'s control4  7f7 ,dec\pl+ 
( r5tal assi/ance  7#a7 ,r5ewal ( r5tal 
assi/ance contract ,if ! ,secret>y      
det]m9es t a matur+ loan = a project _c 
reasonably be re/ructur$ 9 accordance ) 
subsection 7c7 & ! project 0 op]at+ )   
r5tal assi/ance "u section #eba1 !      
,secret>y may r5ew ! r5tal assi/ance    
contract1 not)/&+ any provision (       

section #eba1 = a t]m1 subject to annual
 appropriations1 ( at lea/ #aj ye>s b n 
m ?an #bj ye>s4  7#b7 ,r5ts ,any        
agreem5t to ext5d ! t]m ( ! r5tal       
assi/ance contract "u section #eba = a  
project %all obligate ! own] to cont9ue 
to ma9ta9 ! project z dec5t1 safe &     
sanit>y h\s+ & to op]ate ! developm5t 9 
accordance ) ?is title1 except t r5ts   
%all be bas$ on ! less] (--  7,a7 !     
budget-bas$ ne$s ( ! project2 or  7,b7  
7ii7 ! op]at+ co/ adju/m5t factor z a   
paym5t /&>d z provid$ "u section #ebd ( 
! ,multifamily ,assi/$ ,h\s+ ,re=m &    
,af=dability ,act ( #aiig 7#db ,u4,s4,c4
 #adcg note74  7g7 ,multifamily h\s+    
transf] te*nical assi/ance ,"u ! program
 "u ?is section1 ! ,secret>y may provide
 grants to qualifi$ non-pr(it           
organizations & public h\s+ ag5cies to  
provide te*nical assi/ance1 includ+     
f9ancial & legal s]vices1 to borr[]s "u 
loans "u ?is title = multifamily h\s+ to
 facilitate ! acquisition ( su*         
multifamily h\s+ prop]ties 9 areas :]e !

 ,secret>y det]m9es !re is a risk ( loss
 ( af=dable h\s+4  7h7 ,transf] ( r5tal 
assi/ance ,aft] ! loan or loans = a     
r5tal project orig9ally f9anc$ "u       
section #eae or bo? sections #ead & #eaf
 h matur$ or h be5 prepaid & ! own] has 
*os5 n to re/ructure ! loan pursuant to 
subsection 7c71 a t5ant resid+ 9 su*    
project %all h #ah mon?s prior to loan  
maturation or prepaym5t to transf] !    
r5tal assi/ance assign$ to ! t5ant's    
unit to ano!r r5tal project orig9ally   
f9anc$ "u section #eae or bo? sections  
#ead & #eaf1 & ! own] ( ! initial       
project may r5t ! t5ant's previ\s unit  
to a new t5ant )\t income re/rictions4  
7i7 ,adm9i/rative exp5ses ,( any am\nts 
made available = ! program "u ?is       
section = any fiscal ye>1 ! ,secret>y   
may use n m ?an #a1jjj1jjj =            
adm9i/rative exp5ses = c>ry+ out su*    
program4  7j7 ,au?orization (           
appropriations ,!re is au?oriz$ to be   
appropriat$ = ! program "u ?is section  
#bjj1jjj1jjj = ea* ( fiscal ye>s #bjbj  

?r\gh #bjbd4  4  #c4 ,eligibility =     
rural h\s+ v\*]s ,section #edb ( ! ,h\s+
 ,act ( #aidi 7#db ,u4,s4,c4 #adijr7 is 
am5d$ by add+ at ! end ! foll[+ new     
subsection3  7c7 ,eligibility (         
h\seholds 9 section #ead1 #eae1 & #eaf  
projects ,! ,secret>y may provide rural 
h\s+ v\*]s "u ?is section = any         
l[-income h\sehold 7includ+ ^? n receiv+
 r5tal assi/ance7 resid+ 9 a prop]ty    
f9anc$ ) a loan made or insur$ "u       
section #ead or #eae 7#db ,u4,s4,c4     
#adhd1 #adhe7 :i* has be5 prepaid1 has  
be5 =eclos$1 or has matur$ aft]         
,septemb] #cj1 #bjje1 or resid+ 9 a     
prop]ty assi/$ "u section #ead or #eaf t
 is own$ by a nonpr(it organization or  
public ag5cy4  4  #d4 ,am\nt ( v\*]     
assi/ance ,not)/&+ any o!r provision (  
law1 9 ! case ( any rural h\s+ v\*]     
provid$ pursuant to section #edb ( !    
,h\s+ ,act ( #aidi 7#db ,u4,s4,c4       
#adijr71 ! am\nt ( ! mon?ly assi/ance   
paym5t = ! h\sehold on ^: behalf su*    
assi/ance is provid$ %all be det]m9$ z  

provid$ 9 subsection 7a7 ( su* section  
#edb4  #e4 ,use ( available r5tal       
assi/ance ,subsection 7d7 ( section #eba
 ( ! ,h\s+ ,act ( #aidi 7#db ,u4,s4,c4  
#adij;a7d77 is am5d$ by add+ at ! end ! 
foll[+ new p>agraph3  7#c7 ,9 ! case (  
any r5tal assi/ance contract au?ority t 
becomes available because ( ! t]m9ation 
( assi/ance on behalf ( an assi/$       
family--  7,a7 at ! option ( ! own] ( ! 
r5tal project1 ! ,secret>y %all provide 
! own] a p]iod ( #f mon?s be=e su*      
assi/ance is made available pursuant to 
subp>agraph 7,b7 dur+ :i* ! own] may use
 su* assi/ance au?ority to provide      
assi/ance ( behalf ( an eligible        
unassi/$ family t--  7i7 is resid+ 9 !  
same r5tal project t ! assi/$ family    
resid$ 9 prior to su* t]m9ation2 or     
7ii7 newly occupies a dwell+ unit 9 su* 
r5tal project dur+ su* p]iod2 &  7,b7   
except = assi/ance us$ z provid$ 9      
subp>agraph 7,a71 ! ,secret>y %all use  
su* rema9+ au?ority to provide su*      
assi/ance on behalf ( eligible families 

resid+ 9 o!r r5tal projects orig9ally   
f9anc$ "u section #eae or bo? sections  
#ead & #eaf ( ?is ,act4  4  #f4 ,fund+ =
 multifamily te*nical improvem5ts ,!re  
is au?oriz$ to be appropriat$ to !      
,secret>y ( ,agriculture #ej1jjj1jjj =  
fiscal ye> #bjbj = improv+ ! te*nology (
 ! ,dep>tm5t ( ,agriculture us$ to      
process loans = multifamily h\s+ &      
o!rwise manag+ su* h\s+4 ,su*           
improvem5ts %all be made )9 ! #e-ye>    
p]iod beg9n+ ^u ! appropriation ( su*   
am\nts & su* am\nt %all rema9 available 
until ! expiration ( su* #e-ye> p]iod4  
#g4 ,plan = pres]v+ af=dability ( r5tal 
projects  7a7 ,plan ,! ,secret>y (      
,agriculture 79 ?is section ref]r$ to z 
! ,secret>y7 %all submit a writt5 plan  
to ! ,congress1 n lat] ?an ! expiration 
( ! #f-mon? p]iod beg9n+ on ! date ( !  
enactm5t ( ?is ,act1 = pres]v+ !        
af=dability = l[-income families ( r5tal
 projects = :i* loans 7 made "u section 
#eae or made to nonpr(it or public      
ag5cies "u section #ead & avoid+ !      

displacem5t ( t5ant h\seholds1 :i*      
%all--  7#a7 set =? specific p]=mance   
goals & measures2  7#b7 set =? !        
specific actions & me*anisms by :i* su* 
goals w be a*iev$2  7#c7 set =? specific
 measurem5ts by :i* progress t[>ds      
a*ievem5t ( ea* goal c be measur$2  7#d7
 provide = detail$ report+ on outcomes2 
&  7#e7 include any legislative         
recomm5dations to assi/ 9 a*ievem5t ( ! 
goals "u ! plan4  7b7 ,advisory         
committee  7#a7 ,e/abli%m5t2 purpose ,! 
,secret>y %all e/abli% an advisory      
committee ^: purpose %all be to assi/ ! 
,secret>y 9 pres]v+ section #eae        
prop]ties & section #ead prop]ties own$ 
by nonpr(it or public ag5cies ?r\gh !   
multifamily h\s+ pres]vation &          
revitalization program "u section #ede &
 9 implem5t+ ! plan requir$ "u          
subsection 7a74  7#b7 ,memb] ,! advisory
 %all consi/ ( #ac memb]s1 appo9t$ by ! 
,secret>y1 z foll[s3 7,a7 ,a ,/ate      
,director ( ,rural ,developm5t = !      
,dep>tm5t ( ,agriculture4  7,b7 #b      

repres5tatives ( =-pr(it develop]s or   
own]s ( multifamily rural r5tal h\s+4   
7,c7 #b repres5tatives ( non-pr(it      
develop]s or own]s ( multifamily rural  
r5tal h\s+4  7,d7 #b repres5tatives (   
,/ate h\s+ f9ance ag5cies4  7,e7 #b     
repres5tatives ( t5ants ( multifamily   
rural r5tal h\s+4  7,f7 #a repres5tative
 ( a community developm5t f9ancial      
in/itution t is involv$ 9 pres]v+ !     
af=dability ( h\s+ assi/$ "u sections   
#ead1 #eae1 & #eaf ( ! ,h\s+ ,act (     
#aidi4  7,g7 #a repres5tative ( a       
nonpr(it organization t op]ates         
nationally & has actively p>ticipat$ 9 !
 pres]vation ( h\s+ assi/$ by ! ,rural  
,h\s+ ,s]vice by conduct+ rese>* reg>d+1
 & provid+ f9anc+ & te*nical assi/ance  
=1 pres]v+ ! af=dability ( su* h\s+4    
7,h7 #a repres5tative ( l[-income h\s+  
tax cr$it inve/ors4  7,i7 #a            
repres5tative ( regulat$ f9ancial       
in/itutions t f9ance af=dable           
multifamily rural r5tal h\s+            
developm5ts4  7#c7 ,meet+s ,! advisory  

committee %all meet n less (t5 ?an once 
ea* cal5d> qu>t]4  7#d7 ,functions ,9   
provid+ assi/ance to ! ,secret>y to c>ry
 out its purpose1 ! advisory committee  
%all c>ry out ! foll[+ functions3  7,a7 
,assi/+ ! ,rural ,h\s+ ,s]vice ( !      
,dep>tm5t ( ,agriculture to improve     
e/imates ( ! size1 scope1 & condition ( 
r5tal h\s+ portfolio ( ! ,s]vice1       
includ+ ! "t frames = maturity (        
mortgages & co/s = pres]v+ ! portfolio z
 af=dable h\s+4  7,b7 ,review+ curr5t   
policies & proc$ures ( ! ,rural ,h\s+   
,s]vice reg>d+ pres]vation ( af=dable   
r5tal h\s+ f9anc$ "u sections #ead1     
#eae1 #eaf1 & #ech ( ! ,h\s+ ,act (     
#aidi1 ! ,multifamily ,pres]vation &    
,revitalization ,demon/ration program   
7,,mpr71 & ! r5tal assi/ance program &  
mak+ recomm5dations reg>d+ improvem5ts &
 modifications to su* policies &        
proc$ures4  7,c7 ,provid+ ongo+ review (
 ,rural ,h\s+ ,s]vice program results4  
7,d7 ,provid+ reports to ! ,congress & !
 public on meet+s1 recomm5dations1 & o!r

 f9d+s ( ! advisory committee4  7#e7    
,travel co/s ,any am\nts made available 
= adm9i/rative co/s ( ! ,dep>tm5t (     
,agriculture may be us$ = co/s ( travel 
by memb]s ( ! advisory committee to     
meet+s ( ! committee4  #h4 ,cov]$ h\s+  
programs ,p>agraph 7#c7 ( section       
#dadaa7;a7 ( ! ,viol5ce ,aga9/ ,wom5    
,act ( #aiid 7#cd ,u4,s4,c4             
#abdia7;a77#c77 is am5d$--  7#a7 9      
subp>agraph 7,i71 by /rik+ & at ! end2  
7#b7 by r$esignat+ subp>agraph 7,j7 z   
subp>agraph 7,k72 &  7#c7 by ins]t+ aft]
 subp>agraph 7,i7 ! foll[+ new          
subp>agraph3  7,j7 rural developm5t h\s+
 v\*] assi/ance provid$ by ! ,secret>y (
 ,agriculture pursuant to section #edb (
 ! ,h\s+ ,act ( #aidi 7#db ,u4,s4,c4    
#adijr71 )\t reg>d to subsection 7b7 (  
su* section1 & applicable appropriation 
,acts2 &  4  ,septemb] #f1 #bjai        
,report$ ) an am5dm5t1 committ$ to !    
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union1 & ord]$ to be pr9t$