,,ii #aafth ,,congress #b;d ,session ,s4 #cfbj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #f1 #bjbj,mr4 ,reed 7for himself1 ,mr4 ,brown1 ,mr4 ,tester1 ,mr4 ,schatz1 ,mr4 ,jones1 ,ms4 ,smith1 ,ms4 ,warren1 ,ms4 ,sinema1 ,mr4 ,warner1 ,mr4 ,menendez1 ,mr4 ,van ,hollen1 ,ms4 ,cortez ,masto1 ,mr4 ,kaine1 ,mr4 ,udall1 ,mr4 ,booker1 ,mrs4 ,feinstein1 ,mr4 ,durbin1 ,mr4 ,merkley1 and ,mr4 ,wyden7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to establish a ,housing ,assistance ,fund at the ,department of the ,treasury4 #a4 ,housing assistance fund 7a7 ,definitions ,in this section3 7#a7 ,conforming loan limit ,the term conforming loan limit means the applicable limitation governing the maximum original principal obligation for a mortgage secured by a single-family residence1 a mortgage secured by a #b-;family residence1 a mortgage secured by a #c-;family residence1 or a mortgage secured by a #d-;family residence1 as determined and adjusted annually under section #cjb7;b77#b7 of the ,federal ,national ,mortgage ,association ,charter ,act 7#ab ,u4,s4,c4 #agag7;b77#b77 and section #cje7;a77#b7 of the ,federal ,home ,loan ,mortgage ,corporation ,act 7#ab ,u4,s4,c4 #aded7;a77#b774 7#b7 ,eligible household ,the term eligible household means a household whose income does not exceed #aej percent of the area median income for their household size1 as determined by the ,secretary of ,housing and ,urban ,development4 7#c7 ,mortgage ,the term mortgage means a mortgage-- 7,a7 that is secured by the principal residence of a borrower2 and 7,b7 the unpaid principal balance of which was1 at the time of origination1 not more than the conforming loan limit4 7#d7 ,secretary ,the term ,secretary means the ,secretary of the ,treasury4 7#e7 ,state ,the term ,state means any ,state of the ,united ,states1 the ,district of ,columbia1 any territory of the ,united ,states1 the ,commonwealth of ,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 ,housing ,assistance ,fund to provide such funds as are appropriated in subsection 7f7 to ,state housing finance agencies and any entity named under subsection 7j7 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 ,in general ,the ,secretary shall establish such criteria as are necessary to allocate the funds available within the ,housing ,assistance ,fund to 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 nation-wide number of unemployment claims4 7#b7 ,small state minimum ,each ,state of the ,united ,states1 the ,district of ,columbia1 and the ,commonwealth of ,puerto ,rico shall receive no less than #bej1jjj1jjj for the purposes established in 7b74 7#c7 ,territory set-aside ,notwithstanding any other provision of this section1 of the amounts appropriated under subsection 7f71 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#d7 ,tribal set-aside ,the ,secretary shall allocate funds to an entity designated under subsection 7j7 pursuant to the requirements of that subsection4 7d7 ,disbursement of funds 7#a7 ,initial disbursement ,the ,secretary shall disburse to the ,state housing finance agencies and entities designated under subsection 7j7 not less than #a_/b of the amount made available pursuant to this section1 and in accordance with the allocations established under subsections 7c7 and 7j71 not later than #abj days after the date of enactment of this ,act4 ,the ,secretary or designee shall enter into a contract with each ,state housing finance agency and each entity designated under subsection 7j71 which may be amended from time to time1 establishing the terms of the use of such funds1 in accordance with subsection 7e71 prior to the disbursement of such funds4 7#b7 ,second disbursement ,the ,secretary shall disburse all funds made available pursuant to this section1 and in accordance with the allocations established under subsections 7c7 and 7j71 not later than #ahj days after the date of enactment of this ,act4 7e7 ,permissible uses of fund 7#a7 ,in general ,funds made available to ,state housing finance agencies and designated entities under subsection 7j7 pursuant to this section may be used to assist eligible households for the purposes established under subsection 7b71 which may include-- 7,a7 mortgage payment assistance2 7,b7 financial assistance to allow a borrower to reinstate their mortgage following a period of forbearance2 7,c7 principal reduction2 7,d7 payment assistance for-- 7i7 utilities1 including electric1 gas1 and water2 7ii7 internet service1 including broadband internet access service1 as defined in section #h4a7;b7 of title #dg1 ,code of ,federal ,regulations 7or any successor regulation72 and 7iii7 property taxes2 7,e7 any program established under the ,housing ,finance ,agency ,innovation ,fund for the ,hardest ,hit ,housing ,markets2 7,f7 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 ,housing ,assistance ,fund1 for the purpose of providing housing or utility payment assistance to individuals or otherwise providing funds to prevent foreclosure or eviction of a homeowner or tenant or prevent mortgage delinquency or loss of housing or utilities as a response to the coronavirus disease #bjai 7,,covid-#ai7 pandemic2 and 7,g7 any other assistance to prevent eviction1 mortgage delinquency or default1 foreclosure1 or the loss of utility services for an eligible household4 7#b7 ,administrative expenses ,not greater than #aj percent of the amount allocated to a ,state or an entity pursuant to subsections 7c7 or 7j7 may be used by a ,state housing financing agency or an entity 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 ,appropriation ,there is appropriated1 out of amounts in the ,treasury not otherwise appropriated1 for the fiscal year ending ,september #cj1 #bjbj1 to remain available until expended or transferred or credited under subsection 7h7 or subsection 7j71 #ge1jjj1jjj1jjj to the ,housing ,assistance ,fund established under subsection 7b74 7g7 ,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 in subsection 7e7 and under the terms and conditions established by the contract with the ,secretary created pursuant to subsection 7d77#a7 and the terms of subsection 7h74 7h7 ,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 #fe 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 #ce 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 7i7 ,reporting requirements ,the ,secretary shall provide public reports not less frequently than quarterly regarding the use of funds provided by the ,housing ,assistance ,fund4 ,such reports shall include the following data by ,state or entity receiving funds pursuant to subsection 7j7 and by program within each ,state or entity receiving funds pursuant to subsection 7j71 both for the past quarter and for 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 average amount of assistance provided per household receiving assistance2 7#f7 the average length of assistance provided per household receiving assistance2 7#g7 the income ranges of households for each household receiving assistance2 7#h7 demographic information about each household receiving assistance1 including race1 ethnicity1 and service member status2 and 7#i7 the outcome #ab months after the household has received assistance4 7j7 ,tribal set-,aside 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 ,set-aside 7,a7 ,in general ,notwithstanding any other provision of this section1 of the amounts appropriated under subsection 7f71 the ,secretary shall use #e percent to make grants to eligible recipients for the purposes described in subsection 7e77#a74 7,b7 ,native hawaiian set-aside ,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 for the purposes described in subsection 7e77#a74 7#c7 ,requirements 7,a7 ,allocation ,except for the funds set aside under paragraph 7#b77;,b71 the ,secretary shall allocate the funds set aside under paragraph 7#b77;,a7 using the allocation formula described in subpart ,d of part #ajjj of title #bd1 ,code of ,federal ,regulations 7or successor regulations74 7,b7 ,native hawaiians ,the ,secretary shall use the funds made available under paragraph 7#b77;,b7 in accordance with part #ajjf of title #bd1 ,code of ,federal ,regulations 7or successor regulations74 7#d7 ,rescission ,the ,secretary shall transfer any funds made available under paragraph 7#b7 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