,i #aafth ,,congress #b;d ,session ,h4 ,r4 #fgbi ,,in ,,the ,,house ,,of ,,representatives ,may #e1 #bjbj,mr4 ,david ,scott of ,georgia 7for himself and ,ms4 ,waters7 introduced the following bill2 which was referred to the ,committee on ,financial ,services1 and in addition to the ,committee on the ,budget1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to establish a ,homeowner ,assistance ,fund to provide funds to ,state housing finance agencies for the purpose of preventing homeowner mortgage defaults1 foreclosures1 and displacements of individuals and families experiencing financial hardship1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,,covid-#ai ,homeowner ,assistance ,fund ,act of #bjbj4 #b4 ,homeowner ,assistance ,fund 7a7 ,definitions ,in this section3 7#a7 ,fund ,the term ,fund means the ,homeowner ,assistance ,fund established under subsection 7b74 7#b7 ,secretary ,the term ,secretary means the ,secretary of the ,treasury4 7#c7 ,state ,the term ,state means any ,state of the ,united ,states1 the ,district of ,columbia1 any territory of the ,united ,states1 ,puerto ,rico1 ,guam1 ,american ,samoa1 the ,virgin ,islands1 and the ,northern ,mariana ,islands4 7b7 ,establishment of fund ,there is established at the ,department of the ,treasury a ,homeowner ,assistance ,fund to provide such funds as are made available under subsection 7g7 to ,state housing finance agencies for the purpose of preventing homeowner mortgage defaults1 foreclosures1 and displacements of individuals and families experiencing financial hardship after ,january #ba1 #bjbj4 7c7 ,allocation of funds 7#a7 ,administration ,of any amounts made available for the ,fund1 the ,secretary of the ,treasury may allocate1 in the aggregate1 an amount not exceeding #e percent-- 7,a7 to the ,office of ,financial ,stability established under section #aja7;a7 of the ,emergency ,economic ,stabilization ,act of #bjjh 7#ab ,u4,s4,c4 #ebaa7;a77 to administer and oversee the ,fund1 and to provide technical assistance to ,states for the creation and implementation of ,state programs to administer assistance from the ,fund2 and 7,b7 to the ,inspector ,general of the ,department of the ,treasury for oversight of the program under this section4 7#b7 ,for ,states ,the ,secretary shall establish such criteria as are necessary to allocate the funds available within the ,fund for each ,state4 ,the ,secretary shall allocate such funds among all ,states taking into consideration the number of unemployment claims within a ,state relative to the nationwide number of unemployment claims4 7#c7 ,small ,state minimum ,the amount allocated for each ,state shall not be less than #bej1jjj1jjj4 7#d7 ,set-aside for insular areas ,notwithstanding any other provision of this section1 of the amounts appropriated under subsection 7g71 the ,secretary shall reserve #bjj1jjj1jjj to be disbursed to ,guam1 ,american ,samoa1 the ,virgin ,islands1 and the ,northern ,mariana ,islands based on each such territory's share of the combined total population of all such territories1 as determined by the ,secretary4 ,for the purposes of this paragraph1 population shall be determined based on the most recent year for which data are available from the ,united ,states ,census ,bureau4 7#e7 ,set-aside for ,indian tribes and ,native ,hawaiians -- 7,a7 ,indian tribes ,notwithstanding any other provision of this section1 of the amounts appropriated under subsection 7g71 the ,secretary shall use #e percent to make grants in accordance with subsection 7f7 to eligible recipients for the purposes described in subsection 7e77#a74 7,b7 ,native ,hawaiians ,of the funds set aside under subparagraph 7,a71 the ,secretary shall use #j4c percent to make grants to the ,department of ,hawaiian ,home ,lands in accordance with subsection 7f7 for the purposes described in subsection 7e77#a74 7d7 ,disbursement of funds 7#a7 ,administration ,except for amounts made available for assistance under subsection 7f71 ,state housing finance agencies shall be primarily responsible for administering amounts disbursed from the ,fund1 but may delegate responsibilities and sub-allocate amounts to community development financial institutions and ,state agencies that administer ,low-,income ,home ,energy ,assistance ,program of the ,department of ,health and ,human ,services4 7#b7 ,notice of funding ,the ,secretary shall provide public notice of the amounts that will be made available to each ,state and the method used for determining such amounts not later than the expiration of the #ad-;day period beginning on the date of the enactment of this ,act of enactment4 7#c7 ,,shfa plans 7,a7 ,eligibility ,to be eligible to receive funding allocated for a ,state under the section1 a ,state housing finance agency for the ,state shall submit to the ,secretary a plan for the implementation of ,state programs to administer1 in part or in full1 the amount of funding the ,state is eligible to receive1 which shall provide for the commencement of receipt of applications by homeowners for assistance1 and funding of such applications1 not later than the expiration of the #f-month period beginning upon the approval under this paragraph of such plan4 7,b7 ,multiple plans ,a ,state housing finance agency may submit multiple plans1 each covering a separate portion of funding for which the ,state is eligible4 7,c7 ,timing ,the ,secretary shall approve or disapprove a plan within #cj days after the plan's submission and1 if disapproved1 explain why the plan could not be approved4 7,d7 ,disbursement upon approval ,the ,secretary shall disburse to a ,state housing finance agency the appropriate amount of funding upon approval of the agency's plan4 7,e7 ,amendments ,a ,state housing finance agency may subsequently amend a plan that has previously been approved1 provided that any plan amendment shall be subject to the approval of the ,secretary4 ,the ,secretary shall approve any plan amendment or disapprove such amendment explain why the plan amendment could not be approved within #de days after submission to the ,secretary of such amendment4 7,f7 ,technical assistance ,the ,secretary shall provide technical assistance for any ,state housing finance agency that twice fails to have a submitted plan approved4 7e7 ,permissible uses of fund 7#a7 ,in general ,funds made available to ,state housing finance agencies pursuant to this section may be used for the purposes established under subsection 7b71 which may include-- 7,a7 mortgage payment assistance1 including financial assistance to allow a borrower to reinstate their mortgage or to achieve a more affordable mortgage payment1 which may include principal reduction or rate reduction1 provided that any mortgage payment assistance is tailored to a borrower's needs and their ability to repay1 and takes into consideration the loss mitigation options available to the borrower2 7,b7 assistance with payment of taxes1 hazard insurance1 flood insurance1 mortgage insurance1 or homeowners' association fees2 7,c7 utility payment assistance1 including electric1 gas1 water1 and internet service1 including broadband internet access service 7as such term is defined in section #h4a7;b7 of title #dg1 ,code of ,federal ,regulations 7or any successor regulation772 7,d7 reimbursement of funds expended by a ,state or local government during the period beginning on ,january #ba1 #bjbj1 and ending on the date that the first funds are disbursed by the ,state under the ,fund1 for the purpose of providing housing or utility assistance to individuals or otherwise providing funds to prevent foreclosure or eviction of a homeowner or prevent mortgage delinquency or loss of housing or critical utilities as a response to the coronavirus disease #bjai 7,,covid-#ai7 pandemic2 and 7,e7 any other assistance for homeowners to prevent eviction1 mortgage delinquency or default1 foreclosure1 or the loss of essential utility services4 7#b7 ,targeting 7,a7 ,requirement ,not less than #fj percent of amounts made available for each ,state or other entity allocated amounts under subsection 7c7 shall be used for activities under paragraph 7#a7 that assist homeowners having incomes equal to or less than #hj percent of the area median income4 7,b7 ,determination of income ,in determining the income of a household for purposes of this paragraph1 income shall be considered to include only income that the household is receiving at the time of application for assistance from the ,fund and any income recently terminated shall not be included1 except that for purposes of households receiving assistance for arrearages income shall include only the income that the household was receiving at the time such arrearages were incurred4 7,c7 ,language assistance ,each ,state housing finance agency or other entity allocated amounts under subsection 7c7 shall make available to each applicant for assistance from amounts from the ,fund language assistance in any language that such language assistance is available in and shall provide notice to each such applicant that such language assistance is available4 7#c7 ,administrative expenses ,not more than #ae percent of the amount allocated to a ,state pursuant to subsection 7c7 may be used by a ,state housing financing agency for administrative expenses4 ,any amounts allocated to administrative expenses that are no longer necessary for administrative expenses may be used in accordance with paragraph 7#a74 7f7 ,tribal and ,native ,hawaiian assistance 7#a7 ,definitions ,in this subsection3 7,a7 ,department of ,hawaiian home lands ,the term ,department of ,hawaiian ,home ,lands has the meaning given the term in section #hja of the ,native ,american ,housing ,assistance and ,self-,determination ,act of #aiif 7#db ,u4,s4,c4 #dbba74 7,b7 ,eligible recipient ,the term eligible recipient means any entity eligible to receive a grant under section #aja of the ,native ,american ,housing ,assistance and ,self-,determination ,act of #aiif 7#be ,u4,s4,c4 #daaa74 7#b7 ,requirements 7,a7 ,allocation ,except for the funds set aside under subsection 7c77#e77;,b71 the ,secretary shall allocate the funds set aside under subsection 7c77#e77;,a7 using the allocation formula described in subpart ,d of part #ajjj of title #bd1 ,code of ,federal ,regulations 7or any successor regulations74 7,b7 ,native ,hawaiians ,the ,secretary shall use the funds made available under subsection 7c77#e77;,b7 in accordance with part #ajjf of title #bd1 ,code of ,federal ,regulations 7or successor regulations74 7#c7 ,transfer ,the ,secretary shall transfer any funds made available under subsection 7c77#e7 that have not been allocated by an eligible recipient or the ,department of ,hawaiian ,home ,lands1 as applicable1 to provide the assistance described in subsection 7e77#a7 by ,december #ca1 #bjcj1 to the ,secretary of ,housing and ,urban ,development to carry out the ,native ,american ,housing ,assistance and ,self-,determination ,act of #aiif 7#be ,u4,s4,c4 #daja et seq474 7g7 ,funding 7#a7 ,appropriation ,there is appropriated1 out of any funds in the ,treasury not otherwise appropriated1 to the ,homeowner ,assistance ,fund established under subsection 7b71 #ge1jjj1jjj1jjj1 to remain available until expended or transferred or credited under subsection 7i74 7#b7 ,emergency designation ,amounts specified under subsection 7a7 are designated by the ,congress as being for an emergency requirement pursuant to section #bea7;b77#b77;,a77i7 of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe4 7h7 ,use of housing finance agency innovation fund for the hardest hit housing markets funds ,a ,state housing finance agency may reallocate any administrative or programmatic funds it has received as an allocation from the ,housing ,finance ,agency ,innovation ,fund for the ,hardest ,hit ,housing ,markets created pursuant to section #aja7;a7 of the ,emergency ,economic ,stabilization ,act of #bjjh 7#ab ,u4,s4,c4 #ebaa7;a77 that have not been otherwise allocated or disbursed as of the date of enactment of this ,act to supplement any administrative or programmatic funds received from the ,housing ,assistance ,fund4 ,such reallocated funds shall not be considered when allocating resources from the ,housing ,assistance ,fund using the process established under subsection 7c7 and shall remain available for the uses permitted and under the terms and conditions established by the contract with ,secretary created pursuant to subsection 7d77#a7 and the terms of subsection 7i74 7i7 ,rescission of funds ,any funds that have not been allocated by a ,state housing finance agency to provide assistance as described under subsection 7e7 by ,december #ca1 #bjcj1 shall be reallocated by the ,secretary in the following manner3 7#a7 ,sixty-five percent shall be transferred or credited to the ,housing ,trust ,fund established under section #acch of the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #defh72 and 7#b7 thirty-five percent shall be transferred or credited to the ,capital ,magnet ,fund under section #acci of the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #defi74 7j7 ,reporting requirements ,the ,secretary shall provide public reports not less frequently than quarterly regarding the use of funds provided by the ,homeowner ,assistance ,fund4 ,such reports shall include the following data by ,state and by program within each ,state1 both for the past quarter and throughout the life of the program-- 7#a7 the amount of funds allocated2 7#b7 the amount of funds disbursed2 7#c7 the number of households and individuals assisted2 7#d7 the acceptance rate of applicants2 7#e7 the type or types of assistance provided to each household2 7#f7 whether the household assisted had a federally backed loan and identification of the ,federal entity backing such loan2 7#g7 the average amount of funding provided per household receiving assistance and per type of assistance provided2 7#h7 the average number of monthly payments that were covered by the funding amount that a household received1 as applicable1 disaggregated by type of assistance provided2 7#i7 the income level of each household receiving assistance2 and 7#aj7 the outcome #ab months after the household has received assistance4 ,each report under this subsection shall disaggregate the information provided under paragraphs 7#c7 through 7#aj7 by ,state1 zip code1 racial and ethnic composition of the household1 and whether or not the person from the household applying for assistance speaks ,english as a second language4