,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #ddig  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #af1 #bjba,ms4  
,wat]s 7= h]self1 ,mrs4 ,c>olyn ,b4     
,maloney ( ,new ,york1 ,ms4 ,velzquez1  
,mr4 ,gre5 ( ,texas1 ,mr4 ,cleav]1 ,mrs4
 ,beatty1 ,mr4 ,lawson ( ,florida1 ,ms4 
,pressley1 ,mr4 ,torres ( ,new ,york1   
,ms4 ,tlaib1 ,ms4 ,ocasio-,cortez1 ,mr4 
,g>ca ( ,ill9ois1 ,ms4 ,g>cia ( ,texas1 
,ms4 ,williams ( ,georgia1 ,mr4         
,au*9closs1 ,ms4 ,s*ak[sky1 ,mr4 ,lieu1 
,ms4 ,lee ( ,cali=nia1 ,ms4 ,blunt      
,ro*e/]1 ,mr4 ,sires1 ,ms4 ,cl>ke ( ,new
 ,york1 ,mr4 ,evans1 ,mr4 ,espaillat1   
,ms4 ,moore ( ,wiscons91 ,mr4 ,blum5au]1
 ,ms4 ,ross1 ,mr4 ,b[man1 ,ms4 ,norton1 
,ms4 ,sn*ez1 & ,mr4 ,vic5te ,gonzalez ( 
,texas7 introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,f9ancial     
,s]vices1 & 9 addition to ! ,committees 
on ,transportation & ,infra/ructure1    
,education & ,labor1 ,en]gy & ,comm]ce1 
! ,judici>y1 & ! ,budget1 = a p]iod to  
be subsequ5tly det]m9$ by ! ,speak]1 9  

ea* case = consid]ation ( su* provisions
 z fall )9 ! jurisdiction ( ! committee 
conc]n$  ,a ,,bill  ,to facilitate !    
developm5t ( af=dable h\s+1 & = o!r     
purposes4  #a4 ,%ort title2 table (     
cont5ts  7a7 ,%ort title ,?is ,act may  
be cit$ z ! ,h\s+ is ,infra/ructure ,act
 ( #bjba4  7b7 ,table ( cont5ts ,! table
 ( cont5ts = ?is ,act is z foll[s3 ,sec4
 #a4 ,%ort title2 table ( cont5ts4,title
 ,i--,support = public housing,sec4     
#aja4 ,public ,h\s+ ,capital            
,fund4,title ,,ii--,support = creation &
 pres]vation ( af=dable housing,sec4    
#bja4 ,h\s+ ,tru/ ,fund4,sec4 #bjb4     
,,home ,inve/m5t ,p>tn]%ips             
program4,sec4 #bjc4 ,supportive h\s+ =  
p]sons ) disabilities4,sec4 #bjd4       
,supportive h\s+ = ! eld]ly4,sec4 #bje4 
,capital ,magnet ,fund4,sec4 #bjf4      
,multifamily h\s+ gre5+ &               
pres]vation4,sec4 #bjg4 ,pres]vation    
grants = prop]ties receiv+ section #h   
project-bas$ r5tal assi/ance4,sec4 #bjh4
 ,r5tal assi/ance4,sec4 #bji4 ,rural    

multifamily h\s+ pres]vation &          
revitalization demon/ration             
program4,sec4 #baj4 ,rural s+le-family  
h\s+ repair grants4,sec4 #baa4 ,native  
,am]ican h\s+ block grants4,title       
,,iii--,community developm5t &          
affordability,sec4 #cja4 ,community     
developm5t block grant fund+ = af=dable 
h\s+ & infra/ructure4,sec4 #cjb4 ,grants
 = zon+ & l& use improvem5ts4,sec4 #cjc4
 ,re/or+ communities left beh9d4,sec4   
#cjd4 ,af=dable h\s+ & community        
developm5t te*nical assi/ance &         
capacity-build+ to exp& economic        
inclusion & prev5t involunt>y resid5tial
 displacem5t4,sec4 #cje4 ,lead haz>d    
r$uction & heal?y homes initiative4,sec4
 #cjf4 ,community revitalization        
fund4,sec4 #cjg4 ,/r5g!n+ resili5ce "u  
,national ,flood ,insurance             
,program4,sec4 #cjh4 ,cap on annual     
,national ,flood ,insurance             
,program4,sec4 #cji4 ,manufactur+       
facility4,title ,,iv--,national         
,inve/m5t ,au?ority ,system,sec4 #dja4  

,%ort title4,sec4 #djb4                 
,def9itions4,subtitle ,a--,national     
,inve/m5t ,authority,sec4 #daa4         
,e/abli%m5t4,sec4 #dab4 ,functions4,sec4
 #dac4 ,fund+4,sec4 #dad4 ,,nia ,gov]n+ 
,bo>d4,sec4 #dae4 ,project eligibility &
 selection4,sec4 #daf4 ,public          
acc\ntability4,subtitle ,b--,,nia       
,regional ,offices,sec4 #dba4           
,e/abli%m5t4,sec4 #dbb4 ,organization & 
/ructure4,sec4 #dbc4                    
,functions4,subtitle ,c--,national      
,infra/ructure ,bank,sec4 #dca4         
,e/abli%m5t4,sec4 #dcb4 ,functions4,sec4
 #dcc4 ,,nib ,gov]nance4,sec4 #dcd4     
,project eligibility & selection4,title 
,v--,home[n]%ip investments,sec4 #eja4  
,fir/-g5]ation d[npaym5t assi/ance4,sec4
 #ejb4 ,,fha-insur$ small doll> mortgage
 demon/ration program4,title            
,,vi--,equity & ,,hud                   
capacity-building,sec4 #fja4 ,fair h\s+ 
en=cem5t4,sec4 #fjb4 ,fair & equitable  
h\s+ developm5t requirem5ts4,sec4 #fjc4 
,inclusion ( m9ority & wom5's bus9ess   

ent]prises4,sec4 #fjd4 ,promot+ h\s+    
accessibility & visitability4,sec4 #fje4
 ,reports on outcomes4,sec4 #fjf4 ,,hud 
sal>ies & exp5ses4  ,i ,support = public
 h\s+  #aja4 ,public ,h\s+ ,capital     
,fund  7a7 ,au?orization (              
appropriations ,!re is au?oriz$ to be   
appropriat$ = ! ,capital ,fund "u       
section #i7;d7 ( ! ,unit$ ,/ates ,h\s+  
,act ( #aicg 7#db ,u4,s4,c4 #adcg;g7d77 
#ge1jjj1jjj1jjj & any am\nts appropriat$
 pursuant to ?is subsection %all rema9  
available until ! expiration ( ! #g-ye> 
p]iod beg9n+ ^u ! date ( su*            
appropriation4  7b7 ,requirem5ts ,!     
,secret>y ( ,h\s+ & ,urban ,developm5t  
79 ?is title ref]r$ to z ! ,secret>y7   
%all-- 7#a7 di/ribute n less ?an #ej    
p]c5t ( any am\nts appropriat$ pursuant 
to subsection 7a7 "u ! same =mula us$ = 
am\nts made available = ! ,capital ,fund
 = fiscal ye> #bjbj2 &  7#b7 make       
available all rema9+ am\nts by          
competition = priority inve/m5ts1 :i*   
%all n exclude public h\s+ ag5cies work+

 9 good fai? to resolve urg5t heal? &   
safety conc]ns bas$ on writt5           
notification ( violations f ! ,dep>tm5t 
( ,environm5tal ,protection1 ,dep>tm5t (
 ,ju/ice1 or ,dep>tm5t ( ,h\s+ & ,urban 
,developm5t4  7c7 ,tim+ ,! ,secret>y    
%all obligate am\nts-- 7#a7 made        
available "u subsection 7b77#a7 )9 #cj  
days ( enactm5t ( ! ,act appropriat+ su*
 funds2 &  7#b7 made available "u       
subsection 7b77#b7 )9 #ab mon?s (       
enactm5t ( ! ,act appropriat+ su* funds4
  7d7 ,limitation ,am\nts provid$       
pursuant to ?is section may n be us$ =  
op]at+ co/s or r5tal assi/ance4  7e7    
,use ( am\nts ,n m ?an #j4e p]c5t ( any 
am\nt appropriat$ pursuant to ?is       
section %all be us$ by ! ,secret>y =    
co/s associat$ ) /aff1 tra9+1 te*nical  
assi/ance1 te*nology1 monitor+1 travel1 
en=cem5t1 rese>*1 & evaluation4  7f7    
,supplem5tation ( funds ,! ,secret>y    
%all ensure t am\nts provid$ pursuant to
 ?is section %all s]ve to supplem5t & n 
supplant o!r am\nts g5]at$ by a recipi5t

 ( su* am\nts or am\nts provid$ by o!r  
,f$]al1 ,/ate1 or local s\rces4  7g7    
,climate & natural disa/] resili5ce &   
wat] & en]gy effici5cy ,9 di/ribut+ any 
am\nts pursuant to subsection 7b71 !    
,secret>y %all give priority to public  
h\s+ ag5cies locat$ 9 ,/ates &          
localities t h a plan to increase       
climate & natural disa/] resili5ce &    
wat] & en]gy effici5cy :5 develop+ or   
rehabilitat+ public h\s+ us+ any am\nts 
di/ribut$4  7h7 ,repeal ( ,fairclo?     
,am5dm5t ,section #i7;g7 ( ! ,unit$     
,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4
 #adcg;g7g77 is am5d$ by /rik+ p>agraph 
7#c7 7relat+ to limitation on new       
con/ruction74  ,,ii ,support = creation 
& pres]vation ( af=dable h\s+  #bja4    
,h\s+ ,tru/ ,fund  7a7 ,au?orization (  
appropriations ,!re is au?oriz$ to be   
appropriat$ = ! ,h\s+ ,tru/ ,fund "u    
section #acch ( ! ,h\s+ & ,urban        
,developm5t ,act ( #aiib 7#ab ,u4,s4,c4 
#defh7 #de1jjj1jjj1jjj & any am\nts made
 available pursuant to ?is subsection   

%all rema9 available until exp5d$4  7b7 
,priority = occupancy ,! ,secret>y %all 
ensure t priority = occupancy 9 dwell+  
units assi/$ ) am\nts made available    
pursuant to ?is section t become        
available = occupancy %all be giv5 to   
p]sons & h\seholds :o are homeless 7z   
su* t]m is def9$ 9 section #ajc ( !     
,mc,kinney-,v5to ,homeless ,assi/ance   
,act 7#db ,u4,s4,c4 #aacjb77 or at risk 
( homelessness 7z su* t]m is def9$ 9    
section #dja ( su* ,act 7#db ,u4,s4,c4  
#aacfj774  7c7 ,grants = areas ( high & 
p]si/5t pov]ty ,( any am\nts made       
available pursuant to ?is section1 n    
less ?an #aj p]c5t %all be available )\t
 reg>d to any requirem5t reg>d+ m9imum  
grant am\nt & only = eligible uses )9 or
 directly b5efitt+-- 7#a7 any c\nty t   
has consi/5tly _h #bj p]c5t or m ( !    
population liv+ 9 pov]ty dur+ ! #cj-ye> 
p]iod prec$+ ! date ( enactm5t ( ?is    
,act1 z measur$ by ! #aiij & #bjjj      
dec5nial c5sus & ! mo/ rec5t annual     
,small ,area ,income & ,pov]ty ,e/imates

 z e/imat$ by ! ,bureau ( ! ,c5sus2     
7#b7 any c5sus tract hav+ a pov]ty rate 
( at lea/ #bj p]c5t z measur$ by !      
#bjad-bjah #e-ye> data s]ies available f
 ! ,am]ican ,community ,survey ( !      
,c5sus ,bureau2 or  7#c7 any t]ritory or
 possession ( ! ,unit$ ,/ates4  7d7     
,climate & natural disa/] resili5ce &   
wat] & en]gy effici5cy ,n less ?an #ae  
p]c5t ( all am\nts made available       
pursuant to ?is section %all be us$ only
 = activities relat+ to climate &       
natural disa/] resili5ce & wat] & en]gy 
effici5cy &1 at ! ,secret>y's           
discretion1 o!r /rategies to enhance !  
environm5tal su/a9ability ( h\s+        
production & design4  7e7 ,applicability
 ( ,davis-,bacon ,act  7#a7 ,9 g5]al    
,all labor]s & me*anics employ$ by      
contractors & subcontractors 9 !        
p]=mance ( con/ruction "w f9anc$ 9 :ole 
or 9 "p ) am\nts made available pursuant
 to ?is section %all be paid wages at   
rates n less ?an ^? prevail+ on simil>  
con/ruction 9 ! locality z det]m9$ by ! 

,secret>y ( ,labor 9 accordance )       
sub*apt] ,,iv ( *apt] #ca ( title #dj1  
,unit$ ,/ates ,code4 ,! prec$+ s5t5ce   
%all apply to ! rehabilitation (        
resid5tial prop]ty only if su* prop]ty  
conta9s n less ?an #ab units4 ,!        
,secret>y ( ,labor %all h1 ) respect to 
su* labor /&>ds1 ! au?ority & functions 
set =? 9 ,reorganization ,plan ,numb]$  
#ad ( #aiej 7#ae ,f$4 ,reg4 #cagf2 #fd  
,/at4 #abfg7 & section #b ( ! ,act (    
,june #ac1 #aicd1 z am5d$ 7#dh ,/at4    
#idh2 #dj ,u4,s4,c4 #bgf7;c774  7#b7    
,exception ,p>agraph 7#a7 %all n apply  
to any individual :o-- 7,a7 p]=ms       
s]vices = :i* ! individual volunte]$2   
7,b7 does n receive comp5sation = su*   
s]vices or is paid exp5ses1 reasonable  
b5efits1 or a nom9al fee = su* s]vices2 
&  7,c7 is n o!rwise employ$ at any "t 9
 ! con/ruction "w4  #bjb4 ,,home        
,inve/m5t ,p>tn]%ips program  7a7       
,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$ = c>ry+ out !
 ,,home ,inve/m5t ,p>tn]%ips program "u 

title ,,ii ( ! ,cran/on-,gonzalez       
,national ,af=dable ,h\s+ ,act 7#db     
,u4,s4,c4 #abgba et seq47               
#ce1jjj1jjj1jjj & any am\nts made       
available pursuant to ?is section %all  
rema9 available until exp5d$4  7b7      
,grants = areas ( high & p]si/5t pov]ty 
,( any am\nts made available pursuant to
 ?is section1 n less ?an #aj p]c5t %all 
be available )\t reg>d to any requirem5t
 reg>d+ m9imum grant am\nt & only =     
eligible uses )9 or directly b5efitt+-- 
7#a7 any c\nty t has consi/5tly _h #bj  
p]c5t or m ( ! population liv+ 9 pov]ty 
dur+ ! #cj-ye> p]iod prec$+ ! date (    
enactm5t ( ?is ,act1 z measur$ by !     
#aiij & #bjjj dec5nial c5sus & ! mo/    
rec5t annual ,small ,area ,income &     
,pov]ty ,e/imates z e/imat$ by ! ,bureau
 ( ! ,c5sus2  7#b7 any c5sus tract hav+ 
a pov]ty rate ( at lea/ #bj p]c5t z     
measur$ by ! #bjad-bjah #e-ye> data     
s]ies available f ! ,am]ican ,community 
,survey ( ! ,c5sus ,bureau2 or  7#c7 any
 t]ritory or possession ( ! ,unit$      

,/ates4  7c7 ,climate & natural disa/]  
resili5ce & wat] & en]gy effici5cy ,n   
less ?an #ae p]c5t ( all am\nts made    
available pursuant to ?is section %all  
be us$ only = activities relat+ to      
climate & natural disa/] resili5ce &    
wat] & en]gy effici5cy &1 at !          
,secret>y's discretion1 o!r /rategies to
 enhance ! environm5tal su/a9ability (  
h\s+ production & design4  #bjc4        
,supportive h\s+ = p]sons ) disabilities
  7a7 ,au?orization ( appropriations    
,!re is au?oriz$ to be appropriat$      
#b1ejj1jjj1jjj = project r5tal assi/ance
 "u ! program = supportive h\s+ = p]sons
 ) disabilities "u section #haa7;b77#c7 
( ! ,cran/on-,gonzalez ,national        
,af=dable ,h\s+ ,act 7#db ,u4,s4,c4     
#hjac7;b77#c77 = ,/ate h\s+ f9ance      
ag5cies & any am\nts appropriat$        
pursuant to ?is section %all rema9      
available until exp5d$4  7b7 ,use (     
am\nts ,am\nts made available pursuant  
to ?is section may be us$ = co/s        
necess>y to provide resid5ts ( su* h\s+ 

) access to broadb& high-spe$ int]net   
s]vice4  7c7 ,grants = areas ( high &   
p]si/5t pov]ty ,( any am\nts made       
available pursuant to ?is section1 n    
less ?an #aj p]c5t %all be available )\t
 reg>d to any requirem5t reg>d+ m9imum  
grant am\nt & only = eligible uses )9 or
 directly b5efitt+-- 7#a7 any c\nty t   
has consi/5tly _h #bj p]c5t or m ( !    
population liv+ 9 pov]ty dur+ ! #cj-ye> 
p]iod prec$+ ! date ( enactm5t ( ?is    
,act1 z measur$ by ! #aiij & #bjjj      
dec5nial c5sus & ! mo/ rec5t annual     
,small ,area ,income & ,pov]ty ,e/imates
 z e/imat$ by ! ,bureau ( ! ,c5sus2     
7#b7 any c5sus tract hav+ a pov]ty rate 
( at lea/ #bj p]c5t z measur$ by !      
#bjad-bjah #e-ye> data s]ies available f
 ! ,am]ican ,community ,survey ( !      
,c5sus ,bureau2 or  7#c7 any t]ritory or
 possession ( ! ,unit$ ,/ates4  7d7     
,climate & natural disa/] resili5ce &   
wat] & en]gy effici5cy ,n less ?an #ae  
p]c5t ( all am\nts made available       
pursuant to ?is section %all be us$ only

 = activities relat+ to climate &       
natural disa/] resili5ce & wat] & en]gy 
effici5cy &1 at ! ,secret>y's           
discretion1 o!r /rategies to enhance !  
environm5tal su/a9ability ( h\s+        
production & design4  #bjd4 ,supportive 
h\s+ = ! eld]ly  7a7 ,au?orization (    
appropriations ,!re is au?oriz$ to be   
appropriat$ #g1ejj1jjj1jjj1 to rema9    
available until ,septemb] #cj1 #bjbc1   
=-- 7#a7 capital advances pursuant to   
section #bjb7;c77#a7 ( ! ,h\s+ ,act (   
#aiei 7#ab ,u4,s4,c4 #agjaq7c77#a771    
includ+ am5dm5ts to capital advance     
contracts = h\s+ = ! eld]ly z au?oriz$  
by section #bjb ( su* ,act2  7#b7       
project r5tal assi/ance = ! eld]ly "u   
section #bjb7;c77#b7 ( su* ,act1 includ+
 am5dm5ts to contracts = su* assi/ance &
 r5ewal ( expir+ contracts = su*        
assi/ance = up to a #a-ye> t]m2  7#c7   
s5ior pres]vation r5tal assi/ance       
contracts1 includ+ r5ewals1 z au?oriz$  
by section #haa7;e7 ( ! ,am]ican ,h\s+ &
 ,economic ,opportunity ,act ( #bjjj    

7#ab ,u4,s4,c4 #agja;g note72  7#d7     
supportive s]vices associat$ ) h\s+     
assi/$ "u p>agraph 7#a71 7#b71 or 7#c72 
&  7#e7 co/s necess>y to provide        
resid5ts ( h\s+ assi/$ "u p>agraph 7#a71
 7#b71 or 7#c7 ) access to broadb&      
high-spe$ int]net s]vice4  7b7 ,grants =
 areas ( high & p]si/5t pov]ty ,( any   
am\nts made available pursuant to ?is   
section1 n less ?an #aj p]c5t %all be   
available )\t reg>d to any requirem5t   
reg>d+ m9imum grant am\nt & only =      
eligible uses )9 or directly b5efitt+-- 
7#a7 any c\nty t has consi/5tly _h #bj  
p]c5t or m ( ! population liv+ 9 pov]ty 
dur+ ! #cj-ye> p]iod prec$+ ! date (    
enactm5t ( ?is ,act1 z measur$ by !     
#aiij & #bjjj dec5nial c5sus & ! mo/    
rec5t annual ,small ,area ,income &     
,pov]ty ,e/imates z e/imat$ by ! ,bureau
 ( ! ,c5sus2  7#b7 any c5sus tract hav+ 
a pov]ty rate ( at lea/ #bj p]c5t z     
measur$ by ! #bjad-bjah #e-ye> data     
s]ies available f ! ,am]ican ,community 
,survey ( ! ,c5sus ,bureau2 or  7#c7 any

 t]ritory or possession ( ! ,unit$      
,/ates4  7c7 ,climate & natural disa/]  
resili5ce & wat] & en]gy effici5cy ,n   
less ?an #ae p]c5t ( all am\nts made    
available pursuant to ?is section %all  
be us$ only = activities relat+ to      
climate & natural disa/] resili5ce &    
wat] & en]gy effici5cy &1 at !          
,secret>y's discretion1 o!r /rategies to
 enhance ! environm5tal su/a9ability (  
h\s+ production & design4  #bje4        
,capital ,magnet ,fund  7a7             
,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$ = ! ,capital 
,magnet ,fund "u section #acci ( !      
,f$]al ,h\s+ ,ent]prises ,f9ancial      
,safety & ,s\ndness ,act ( #aiib 7#ab   
,u4,s4,c4 #defi7 #ab1jjj1jjj1jjj & any  
am\nts made available pursuant to ?is   
subsection %all rema9 available until   
exp5d$4  7b7 ,grants = areas ( high &   
p]si/5t pov]ty ,( any am\nts made       
available pursuant to ?is section1 n    
less ?an #aj p]c5t %all be available )\t
 reg>d to any requirem5t reg>d+ m9imum  

grant am\nt & only = eligible uses )9 or
 directly b5efitt+-- 7#a7 any c\nty t   
has consi/5tly _h #bj p]c5t or m ( !    
population liv+ 9 pov]ty dur+ ! #cj-ye> 
p]iod prec$+ ! date ( enactm5t ( ?is    
,act1 z measur$ by ! #aiij & #bjjj      
dec5nial c5sus & ! mo/ rec5t annual     
,small ,area ,income & ,pov]ty ,e/imates
 z e/imat$ by ! ,bureau ( ! ,c5sus2     
7#b7 any c5sus tract hav+ a pov]ty rate 
( at lea/ #bj p]c5t z measur$ by !      
#bjad-bjah #e-ye> data s]ies available f
 ! ,am]ican ,community ,survey ( !      
,c5sus ,bureau2 or  7#c7 any t]ritory or
 possession ( ! ,unit$ ,/ates4  7c7     
,climate & natural disa/] resili5ce &   
wat] & en]gy effici5cy ,n less ?an #ae  
p]c5t ( all am\nts made available       
pursuant to ?is section %all be us$ only
 = activities relat+ to climate &       
natural disa/] resili5ce & wat] & en]gy 
effici5cy &1 at ! ,secret>y's           
discretion1 o!r /rategies to enhance !  
environm5tal su/a9ability ( h\s+        
production & design4  7d7 ,applicability

 ( ,davis-,bacon ,act  7#a7 ,9 g5]al    
,all labor]s & me*anics employ$ by      
contractors & subcontractors 9 !        
p]=mance ( con/ruction "w f9anc$ 9 :ole 
or 9 "p ) am\nts made available pursuant
 to ?is section %all be paid wages at   
rates n less ?an ^? prevail+ on simil>  
con/ruction 9 ! locality z det]m9$ by ! 
,secret>y ( ,labor 9 accordance )       
sub*apt] ,,iv ( *apt] #ca ( title #dj1  
,unit$ ,/ates ,code4 ,! prec$+ s5t5ce   
%all apply to ! rehabilitation (        
resid5tial prop]ty only if su* prop]ty  
conta9s n less ?an #ab units4 ,!        
,secret>y ( ,labor %all h1 ) respect to 
su* labor /&>ds1 ! au?ority & functions 
set =? 9 ,reorganization ,plan ,numb]$  
#ad ( #aiej 7#ae ,f$4 ,reg4 #cagf2 #fd  
,/at4 #abfg7 & section #b ( ! ,act (    
,june #ac1 #aicd1 z am5d$ 7#dh ,/at4    
#idh2 #dj ,u4,s4,c4 #bgf7;c774  7#b7    
,exception ,p>agraph 7#a7 %all n apply  
to any individual :o-- 7,a7 p]=ms       
s]vices = :i* ! individual volunte]$2   
7,b7 does n receive comp5sation = su*   

s]vices or is paid exp5ses1 reasonable  
b5efits1 or a nom9al fee = su* s]vices2 
&  7,c7 is n o!rwise employ$ at any "t 9
 ! con/ruction "w4  #bjf4 ,multifamily  
h\s+ gre5+ & pres]vation ,!re is        
au?oriz$ to be appropriat$ to !         
,secret>y ( ,h\s+ & ,urban ,developm5t  
to develop a grant program = own]s (    
f$]ally assi/$ h\s+ or naturally occurr+
 af=dable h\s+ = en]gy effici5cy        
upgrades1 heal? & safety measures1      
electrification ( sy/ems & appliances1  
in/allation ( r5ewable en]gy types1 &   
resili5cy1 #ge1jjj1jjj1jjj1 to rema9    
available until exp5d$4  #bjg4          
,pres]vation grants = prop]ties receiv+ 
section #h project-bas$ r5tal assi/ance 
7a7 ,au?orization ( appropriations ,!re 
is au?oriz$ to be appropriat$ =         
assi/ance to own]s ( prop]ties receiv+  
project-bas$ subsidy contracts "u       
section #h ( ! ,unit$ ,/ates ,h\s+ ,act 
( #aicg 7#db ,u4,s4,c4 #adcg;f71        
#e1jjj1jjj1jjj1 to rema9 available until
 exp5d$4  7b7 ,use ( am\nts ,am\nts     

provid$ pursuant to ?is section %all be 
us$ = competitive grants = capital      
improvem5ts to su* prop]ties1 includ+   
grants = activities t mitigate ?reats to
 ! heal? & safety ( resid5ts1 r$uce lead
 bas$ pa9t haz>ds1 r$uce o!r h\s+ relat$
 haz>ds1 includ+ c>bon monoxide1 radon1 
or mold1 improve wat] & en]gy effici5cy1
 or r$uce ! risk ( h>m to occupants or  
prop]ty f natural haz>ds4  7c7 ,grants =
 areas ( high & p]si/5t pov]ty ,( any   
am\nts made available pursuant to ?is   
section1 n less ?an #aj p]c5t %all be   
available )\t reg>d to any requirem5t   
reg>d+ m9imum grant am\nt & only =      
eligible uses )9 or directly b5efitt+-- 
7#a7 any c\nty t has consi/5tly _h #bj  
p]c5t or m ( ! population liv+ 9 pov]ty 
dur+ ! #cj-ye> p]iod prec$+ ! date (    
enactm5t ( ?is ,act1 z measur$ by !     
#aiij & #bjjj dec5nial c5sus & ! mo/    
rec5t annual ,small ,area ,income &     
,pov]ty ,e/imates z e/imat$ by ! ,bureau
 ( ! ,c5sus2  7#b7 any c5sus tract hav+ 
a pov]ty rate ( at lea/ #bj p]c5t z     

measur$ by ! #bjad-bjah #e-ye> data     
s]ies available f ! ,am]ican ,community 
,survey ( ! ,c5sus ,bureau2 or  7#c7 any
 t]ritory or possession ( ! ,unit$      
,/ates4  7d7 ,wage rate requirem5ts     
,projects fund$ ) grants provid$ "u ?is 
section %all comply ) ! requirem5ts (   
sub*apt] ,,iv ( *apt] #ca ( title #dj1  
,unit$ ,/ates ,code4  7e7 ,policies2    
proc$ures2 contracts ,grants "u ?is     
section %all-- 7#a7 be provid$ ?r\gh !  
policies1 proc$ures1 contracts1 &       
transactional infra/ructure ( ! au?oriz$
 programs adm9i/]$ by ! ,dep>tm5t (     
,h\s+ & ,urban ,developm5t1 on su* t]ms 
& conditions z ! ,secret>y ( ,h\s+ &    
,urban ,developm5t deems appropriate to 
ensure ! ma9t5ance & pres]vation ( !    
prop]ty1 ! cont9u$ op]ation & ma9t5ance 
( en]gy effici5cy te*nologies1 & !      
timely exp5diture ( funds2 &  7#b7      
include a f9ancial assessm5t & physical 
inspection ( su* prop]ty4  7f7 ,eligible
 own]s ,to be eligible = a grant "u ?is 
section1 ! own] ( ! prop]ty %all h at   

lea/ a satisfactory managem5t review    
rat+1 be 9 sub/antial compliance )      
applicable p]=mance /&>ds & legal       
requirem5ts1 & commit to an additional  
p]iod ( af=dability det]m9$ by !        
,secret>y1 b ( n few] ?an #ae ye>s4  7g7
 ,waiv]s & alt]native requirem5ts ,9    
adm9i/]+ funds made available pursuant  
to ?is section1 ! ,secret>y may waive or
 specify alt]native requirem5ts = any   
provision ( any /atute or regulation 9  
connection ) ! obligation by ! ,secret>y
 or ! use ( su* funds 7except =         
requirem5ts relat$ to fair h\s+1        
nondiscrim9ation1 labor /&>ds1 & !      
environm5t71 ^u a f9d+ t su* a waiv] is 
necess>y to exp$ite or facilitate ! use 
( su* funds4  7h7 ,climate & natural    
disa/] resili5ce & wat] & en]gy         
effici5cy ,n less ?an #ae p]c5t ( all   
am\nts made available pursuant to ?is   
section %all be us$ only = activities   
relat+ to climate & natural disa/]      
resili5ce & wat] & en]gy effici5cy &1 at
 ! ,secret>y's discretion1 o!r /rategies

 to enhance ! environm5tal su/a9ability 
( h\s+ production & design4  7i7        
,transf] au?ority ,( ! am\nts made      
available pursuant to ?is section1 !    
,secret>y may transf] up to #j4e p]c5t  
to ! acc\nt = ,dep>tm5t ( ,h\s+ & ,urban
 ,developm5t1 ,program ,(fices--,(fice (
 ,h\s+ = necess>y co/s ( adm9i/]+ &     
ov]see+ ! obligation & exp5diture (     
am\nts made available pursuant to ?is   
section & su* transf]r$ am\nts %all     
rema9 available until ,septemb] #cj1    
#bjbh4  #bjh4 ,r5tal assi/ance ,!re is  
au?oriz$ to be appropriat$ to !         
,secret>y ( ,h\s+ & ,urban ,developm5t--
 7#a7 #aej1jjj1jjj1jjj = increm5tal h\s+
 *oice v\*] assi/ance "u section #h7o7 (
 ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db
 ,u4,s4,c4 #adcg;f71 = adm9i/rative fees
 9 connection ) su* v\*]s1 & = r5ewal ( 
v\*]s fund$ pursuant to ?is p>agraph2 & 
7#b7 #ej1jjj1jjj1jjj = new project-bas$ 
r5tal assi/ance contracts "u section #h 
( su* ,act4  ,any am\nts made available 
pursuant to ?is section %all rema9      

available until exp5d$4  #bji4 ,rural   
multifamily h\s+ pres]vation &          
revitalization demon/ration program  7a7
 ,au?orization ( appropriations ,!re is 
au?oriz$ to be appropriat$ = c>ry+ out !
 ,multifamily ,pres]vation &            
,revitalization ,demon/ration program ( 
! ,rural ,h\s+ ,s]vice 7z au?oriz$ "u   
sections #ead1 #eae1 & #eaf ( ! ,h\s+   
,act ( #aidi 7#db ,u4,s4,c4 #adhd1      
#adhe1 & #adhf77 #e1jjj1jjj1jjj & any   
am\nts appropriat$ pursuant to ?is      
section %all rema9 available until      
exp5d$4  7b7 ,eligible uses ,any am\nts 
made available pursuant to ?is section  
may be us$ "u su* sections #ead1 #eae1 &
 #eaf to f9ance ! developm5t &          
con/ruction ( new af=dable h\s+4  7c7   
,climate & natural disa/] resili5ce &   
wat] & en]gy effici5cy ,n less ?an #ae  
p]c5t ( all am\nts made available       
pursuant to ?is section %all be us$ only
 = activities relat+ to climate &       
natural disa/] resili5ce & wat] & en]gy 
effici5cy &1 at ! ,secret>y's           

discretion1 o!r /rategies to enhance !  
environm5tal su/a9ability ( h\s+        
production & design4  #baj4 ,rural      
s+le-family h\s+ repair grants  7a7     
,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$ = c>ry+ out  
s+le family h\s+ repair grants "u       
section #ejd ( ! ,h\s+ ,act ( #aidi 7#db
 ,u4,s4,c4 #adgd7 #ejj1jjj1jjj1 except t
 eligibility = su* grants %all n be     
subject to ! age limitation set =? 9    
section #ceej4ajc7;b7 ( title #g1 ,code 
( ,f$]al ,regulations1 z ( ! date (     
enactm5t ( ?is ,act1 & any am\nts       
appropriat$ pursuant to ?is section %all
 rema9 available until exp5d$4  7b7     
,climate & natural disa/] resili5ce &   
wat] & en]gy effici5cy ,n less ?an #ae  
p]c5t ( all am\nts made available       
pursuant to ?is section %all be us$ only
 = activities relat+ to climate &       
natural disa/] resili5ce & wat] & en]gy 
effici5cy &1 at ! ,secret>y's           
discretion1 o!r /rategies to enhance !  
environm5tal su/a9ability ( h\s+        

production & design4  #baa4 ,native     
,am]ican h\s+ block grants  7a7         
,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$ = c>ry+ out !
 ,native ,am]ican h\s+ block grant      
program "u title ,i ( ! ,native ,am]ican
 ,h\s+ ,assi/ance & ,self-,det]m9ation  
,act ( #aiif 7#be ,u4,s4,c4 #daaa et    
seq47 #b1jjj1jjj1jjj1 ( :i* #ej1jjj1jjj 
%all be available only = ! ,native      
,hawaiian ,h\s+ ,block ,grant program1 z
 au?oriz$ "u title ,,viii ( ! ,native   
,am]ican ,h\s+ ,assi/ance & ,self-      
,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4
 #dbba et seq474 ,any am\nts made       
available pursuant to ?is section %all  
rema9 available until exp5d$4  7b7      
,climate & natural disa/] resili5ce &   
wat] & en]gy effici5cy ,n less ?an #ae  
p]c5t ( all am\nts made available       
pursuant to ?is section %all be us$ only
 = activities relat+ to climate &       
natural disa/] resili5ce & wat] & en]gy 
effici5cy &1 at ! ,secret>y's           
discretion1 o!r /rategies to enhance !  

environm5tal su/a9ability ( h\s+        
production & design4  7c7 ,compliance ) 
treaty obligations ,! ,secret>y %all    
)hold all or p>tial funds to a tribe or 
tribal entity "u ?is section if1 aft]   
consultation ) ! ,secret>y ( ! ,int]ior 
& ! tribe1 ! ,secret>y det]m9es prior to
 disbursem5t t ! tribe is n 9 compliance
 ) obligations "u its #ahff treaty ) !  
,unit$ ,/ates z x relates to ! inclusion
 ( p]sons :o are l9eal desc5dants (     
,fre$m5 z hav+ ! rights ( ! citiz5s (   
su* tribes1 unless a ,f$]al c\rt has    
issu$ a f9al ord] t det]m9es ! treaty   
obligations ) respect to includ+ ,fre$m5
 z citiz5s4 ,= purposes ( ?is           
subsection1 a c\rt ord] is n consid]$   
f9al if "t rema9s = an appeal or        
application = discretion>y review )     
respect to ! ord]4  ,,iii ,community    
developm5t & af=dability  #cja4         
,community developm5t block grant fund+ 
= af=dable h\s+ & infra/ructure  7a7    
,au?orization ( appropriations ,subject 
to ! provisions ( ?is section1 !re is   

au?oriz$ to be appropriat$              
#b1bej1jjj1jjj = assi/ance "u !         
community developm5t block grant program
 "u title ,i ( ! ,h\s+ & ,community     
,developm5t ,act ( #aigd 7#db ,u4,s4,c4 
#ecja et seq471 ( :i*-- 7#a7            
#b1jjj1jjj1jjj %all be = assi/ance "u   
su* program only = colonias1 z su* t]m  
is def9$ 9 section #iaf7;e7 ( !         
,cran/on-,gonzalez ,national ,af=dable  
,h\s+ ,act 7#db ,u4,s4,c4 #ecjf note71  
to address ! community & h\s+           
infra/ructure ne$s ( exi/+ colonia      
resid5ts & to (fset displacem5t ( su*   
resid5ts2 &  7#b7 #bej1jjj1jjj %all be =
 grants "u subsection 7b7 ( ?is section 
= manufactur$ h\s+ infra/ructure        
improvem5ts4  ,any am\nts appropriat$   
pursuant to ?is section %all rema9      
available until exp5d$4  7b7            
,manufactur$ h\s+ infra/ructure         
improvem5t grant program  7#a7          
,e/abli%m5t ,! ,secret>y ( ,h\s+ &      
,urban ,developm5t %all c>ry out a      
program "u ?is subsection to make grants

 to assi/ 9 c>ry+ out infra/ructure     
improvem5ts = manufactur$ h\s+          
communities4  7#b7 ,eligible projects   
,am\nts f grants "u ?is subsection may  
be us$ only to assi/ 9 c>ry+ out a      
project = replacem5t1 upgrade1 or       
improvem5t ( infra/ructure s]v+ a       
manufactur$ h\s+ community t-- 7,a7 is  
critically ne$$1 9 accordance ) su*     
/&>ds z ! ,secret>y %all e/abli%1 to    
protect ! heal? & safety ( ! resid5ts ( 
! manufactur$ h\s+ community & !        
long-t]m su/a9ability ( ! community2    
7,b7 c be comm5c$ exp$iti\sly ^u receipt
 ( fund+ ) a grant "u ?is subsection1 9 
accordance ) su* /&>ds z ! ,secret>y    
%all e/abli%2 &  7,c7 is a project-- 7i7
 = wat] s\rce or di/ribution sy/ems1    
includ+ connect+ to public wat] sy/ems1 
new wells1 pump /ations or /orage       
facilities1 septic or sew] wa/ewat]     
sy/ems1 electric1 includ+ met] panels & 
utility poles )9 ! community1 roadways  
or driveways )9 ! community1 on- or     
(f-site /ormwat] dra9age or flood       

controls1 tree-trimm+ & removal z       
necess>y to in/all new sy/ems or protect
 homes & facilities1 em]g5cy /orm %elt]s
 :i* c s]ve a dual purpose z community  
c5t]s1 en]gy effici5cy projects includ+ 
sol>1 w9d & /reet light conv]sions1 or  
o!r eligible activities z ! ,secret>y   
def9es2  7ii7 to upgrade or in/all      
sidewalks2  7iii7 to remove ab&on$ &    
blight$ homes f ! prop]ty1 except t n m 
?an #aj p]c5t ( any grant made "u ?is   
section may be us$ = activities "u ?is  
subp>agraph unless ! ,secret>y det]m9es 
t su* use is to replace units 9 an ef=t 
to increase af=dable h\s+ or home[n]%ip2
  7iv7 to improve home-sit+1 includ+    
in/all+ ,,hud-approv$ f\ndations = new &
 pre-own$ ,,hud-code homes2 or  7v7 to  
mitigate flood risk4  7#c7 ,eligible    
manufactur$ home communities ,am\nts f  
grants "u ?is subsection may be us$ only
 = projects meet+ ! requirem5ts "u      
p>agraph 7#b7 t w be c>ri$ out ) respect
 to a manufactur$ h\s+ community t--    
7,a7 meets ! af=dable h\s+ safe h>bor   

requirem5ts ( ! ,int]nal ,rev5ue ,s]vice
 "u section #fja4bja ( title #bf1 ,code 
( ,f$]al ,regulations2 &  7,b7 7i7 is   
own$ by ! resid5ts ( ! manufactur$ h\s+ 
community ?r\gh a resid5t-controll$     
entity 9 :i* at lea/ two-?irds (        
resid5ts are memb]-own]s ( ! l& own+    
entity2 or  7ii7 ! ,secret>y o!rwise    
det]m9es is subject to su* b9d+         
agreem5ts z are necess>y to ensure t !  
manufactur$ h\s+ community w be ma9ta9$ 
z su* a community1 & af=dable =         
l[-income families 7z su* t]m is def9$ 9
 section #c7;b7 ( ! ,unit$ ,/ates ,h\s+ 
,act ( #aicg 7#db ,u4,s4,c4             
#adcg;a7b7771 on a long-t]m basis4  7#d7
 ,crit]ia ,! ,secret>y %all aw>d grants 
"u ?is subsection bas$ on a competition 
us+ crit]ia t give priority = su* grants
 to eligible projects "u p>agraph 7#b7  
bas$ on ! ext5t to :i* ! project        
complies ) ! requirem5ts ( subp>agraphs 
7,a7 & 7,b7 ( su* p>agraph & ! ext5t to 
:i* ! project w assi/ l[-income         
families4  7#e7 ,capacity build+2       

te*nical assi/ance ,( any am\nts made   
available = grants "u ?is section1 !    
,secret>y may use n m ?an #e p]c5t =    
capacity build+1 project managem5t1 &   
te*nical assi/ance = feasibility1       
plann+1 & implem5tation ( infra/ructure 
grants  7#f7 ,def9ition ( manufactur$   
home community ,= purposes ( ?is        
subsection1 ! t]m manufactur$ home      
community means any community1 c\rt1 or 
p>k equipp$ to accommodate manufactur$  
homes = :i* pad sites or pad sites & !  
manufactur$ homes1 or bo?1 are leas$ to 
resid5ts to be us$ prim>ily = resid5tial
 purposes1 includ+ any manufactur$ h\s+ 
community z su* t]m is us$ = purposes ( 
! program ( ! ,f$]al ,national ,mortgage
 ,association = multifamily loans =     
manufactur$ h\s+ communities & ! program
 ( ! ,f$]al ,home ,loan ,mortgage       
,corporation = loans = manufactur$ h\s+ 
communities4  #cjb4 ,grants = zon+ & l& 
use improvem5ts  7a7 ,au?orization (    
appropriations ,!re is au?oriz$ to be   
appropriat$ #ab1gej1jjj1jjj1 to rema9   

available until exp5d$1 = grants "u ?is 
section4  7b7 ,eligible activities      
,am\nts made available = assi/ance "u   
?is section may be us$ only "u !        
community developm5t block grant program
 "u title ,i ( ! ,h\s+ & ,community     
,developm5t ,act ( #aigd 7#db ,u4,s4,c4 
#ecja et seq47 =-- 7#a7 ! developm5t &  
pres]vation ( qualifi$ af=dable h\s+1   
includ+ ! con/ruction ( su* h\s+2  7#b7 
! elim9ation or waiv+ ( zon+ requirem5ts
 & o!r requirem5ts t limit af=dable h\s+
 developm5t1 9 accordance ) ! ,fair     
,h\s+ ,act 7#db ,u4,s4,c4 #cfja et      
seq471 includ+ high d5sity & multifamily
 developm5t re/rictions1 (f-/reet p>k+  
requirem5ts1 & height limitations2 or   
7#c7 any project or entity eligible = a 
discretion>y grant provid$ by !         
,dep>tm5t ( ,transportation4  7c7       
,adm9i/rative & plann+ co/s ,n m ?an #ae
 p]c5t ( any am\nts made available = use
 "u ?is section may be us$ =            
adm9i/rative & plann+ co/s1 includ+ =   
fair h\s+ plann+ to comply ) !          

,secret>y's regulations implem5t+ !     
requirem5t "u section #hjh 7e77#e7 (    
,fair ,h\s+ ,act 7#db ,u4,s4,c4         
#cfjh7;e77#e77 to affirmatively fur!r   
fair h\s+4  7d7 ,limitation ,! ,secret>y
 %all ensure t recipi5ts ( am\nts       
provid$ = use "u ?is section are n      
inc5tiviz$ or o!rwise rew>d$ = elim9at+ 
or und]m9+ ! int5t ( ! zon+ regulations 
or o!r regulations or policies t-- 7#a7 
e/abli% fair wages = labors2  7#b7      
ensure ! heal? & safety ( build+s =     
resid5ts & ! g5]al public2  7#c7 protect
 or r$uce b>ri]s to fair h\s+2  7#d7    
provide environm5tal protections2  7#e7 
prev5t t5ant displacem5t2 or  7#f7      
protect any o!r int]e/ t ! ,secret>y    
det]m9es is 9 ! public int]e/ to        
pres]ve4  7e7 ,competition ,am\nts made 
available = assi/ance "u ?is section    
%all be aw>d$ to ,/ates1 t]ritories1    
units ( g5]al local gov]nm5t1 & ,indian 
tribes on a competitive basis1 bas$ on !
 ext5t to :i* ! applicant-- 7#a7        
demon/rates t ! applicant is responsibly

 /reaml9+ ! process = developm5t (      
qualifi$ af=dable h\s+1 9 accordance ) !
 ,fair ,h\s+ ,act 7#db ,u4,s4,c4 #cfja  
et seq472  7#b7 is elim9at+ or r$uc+    
impact fees = h\s+ )9 b\nd>ies ( !      
,/ate1 unit ( local gov]nm5t1 or ,indian
 tribe1 z applicable1 & o!r assessm5ts  
by ,/ate or local gov]nm5ts ^u ! own]s (
 new h\s+ developm5t projects t (fset   
gov]nm5tal capital exp5ditures =        
infra/ructure requir$ to s]ve or made   
necess>y by ! new h\s+ developm5ts1     
except = fees t are inve/$ exclusively =
 af=dable h\s+2 &  7#c7 provides        
assurances t ! applicant w supplem5t    
assi/ance provid$ "u ?is subsection )   
am\nts f non-,f$]al s\rces = co/s ( !   
qualifi$ af=dable h\s+ or infra/ructure 
eligible "u subsection 7b7 to be fund$ )
 assi/ance "u ?is section1 & ! ext5t (  
su* supplem5tal assi/ance to be provid$4
  7f7 ,climate & natural disa/]         
resili5ce & wat] & en]gy effici5cy ,n   
less ?an #ae p]c5t ( all am\nts made    
available pursuant to ?is section %all  

be us$ only = activities relat+ to      
climate & natural disa/] resili5ce &    
wat] & en]gy effici5cy &1 at !          
,secret>y's discretion1 o!r /rategies to
 enhance ! environm5tal su/a9ability (  
h\s+ production & design4  7g7 ,qualifi$
 af=dable h\s+ ,= purposes ( ?is        
section1 ! t]m qualifi$ af=dable h\s+   
means a h\s+ developm5t t-- 7#a7 is     
fund$ 9 any "p by assi/ance provid$ by !
 ,dep>tm5t ( ,h\s+ & ,urban ,developm5t 
or ! ,rural ,h\s+ ,s]vice ( ! ,dep>tm5t 
( ,agriculture2  7#b7 includes a        
qualifi$ l[ income build+ z su* t]m is  
def9$ 9 section #db ( ! ,int]nal ,rev5ue
 ,code ( #aihf2 or  7#c7 consi/s ( five 
or m dwell+ units ( :i* #bj p]c5t or m  
are made available-- 7,a7 = r5tal only  
by a l[-income family 7z def9$ 9 section
 #c7;b7 ( ! ,unit$ ,/ates ,h\s+ ,act (  
#aicg 7#db ,u4,s4,c4 #adcg;a7b7772  7,b7
 at a mon?ly r5t am\nt t does n exce$   
#cj p]c5t ( ! mon?ly adju/$ income 7z   
def9$ 9 su* section #c7;b77 ( ! t5ant   
l[-income family2 &  7,c7 9 a mann] t   

ma9ta9s af=dability = resid5ts :o are   
l[-income families = a p]iod ( n less   
?an #cj ye>s4  #cjc4 ,re/or+ communities
 left beh9d  7a7 ,competitive grant     
program ,n lat] ?an ! expiration ( !    
#abj-;day p]iod beg9n+ on ! date ( !    
enactm5t ( ?is ,act1 ! ,secret>y ( ,h\s+
 & ,urban ,developm5t %all e/abli% a    
program to aw>d competitive grants to   
eligible local p>tn]%ips to c>ry out m  
?an "o neighborhood revitalization      
support activity 9 an eligible locality4
  7b7 ,crit]ia  7#a7 ,eligible local    
p>tn]%ip ,a local p>tn]%ip is eligible  
to receive a grant "u ! program e/abli%$
 "u ?is section if x meets ! foll[+     
requirem5ts3 7,a7 ,! local p>tn]%ip     
includes a local nonpr(it organization )
 exp]tise 9 community plann+1 engagem5t1
 organiz+1 developm5t1 or neighborhood  
revitalization1 or 9 any area :]e no su*
 local nonpr(it organization exi/s1 a   
national nonpr(it organization ) su*    
exp]tise1 & at lea/ "o ( ! foll[+       
entities3 7i7 ,a city or c\nty gov]nm5t4

  7ii7 ,a l& bank4  7iii7 ,a fair h\s+  
en=cem5t organization 7z su* t]m is     
def9$ 9 section #efa ( ! ,h\s+ &        
,community ,developm5t ,act ( #aihg 7#db
 ,u4,s4,c4 #cfaf;a774  7iv7 ,an an*or   
in/itution4  7v7 ,a nonpr(it            
organization4  7vi7 ,a ,/ate h\s+ f9ance
 ag5cy 7z su* t]m is def9$ 9 section    
#ajf7;h7 ( ! ,h\s+ & ,urban ,developm5t 
,act ( #aifh 7#ab ,u4,s4,c4 #agjax7h7774
  7vii7 ,a community developm5t f9ancial
 in/itution 7z su* t]m is def9$ 9       
section #ajc7e7 ( ! ,community          
,developm5t ,bank+ & ,f9ancial          
,in/itutions ,act ( #aiid 7#ab ,u4,s4,c4
 #dgjb7e7774  7viii7 ,a public h\s+     
ag5cy 7z su* t]m is def9$ 9 section     
#c7;b7 ( ! ,unit$ ,/ates ,h\s+ ,act (   
#aicg 7#db ,u4,s4,c4 #adcg;a7b7774  7,b7
 ,su* local p>tn]%ip w use a grant aw>d$
 "u ?is section to c>ry out neighborhood
 revitalization support activities 9    
fur!rance ( a neighborhood              
revitalization /rategy = eligible       
localities4  7#b7 ,eligible locality ,= 

! purposes ( ?is section1 an eligible   
locality is a geographic area or areas  
at ! neighborhood or c\nty level t meet 
at lea/ f\r ( ! foll[+ objective crit]ia
 ( economic di/ress3 7,a7 ,dwell+ unit  
sales prices are l[] ?an ! co/ to       
acquire & rehabilitate1 or build1 a new 
dwell+ unit4  7,b7 ,high proportions (  
resid5tial & comm]cial prop]ties are    
vacant due to =eclosure1 eviction1      
ab&onm5t1 or o!r causes4  7,c7 ,l[ rates
 ( home[n]%ip4  7,d7 ,racial disp>ities 
9 home[n]%ip rates4  7,e7 ,high rates ( 
pov]ty4  7,f7 ,high rates ( unemploym5t 
& und]employm5t4  7,g7 ,population loss4
  7,h7 ,lack ( private sector l5d+ on   
fair & competitive t]ms = individuals to
 pur*ase homes or />t small bus9esses4  
7,i7 ,o!r indicators ( economic di/ress1
 su* z ! lack ( h\s+ af=dability1 /emm+ 
f long-/&+ gov]nm5t policies & private  
sector practices t prev5t$ mortgage l5d+
 9 "s communities1 su* z r$l9+4  ,!     
,secret>y %all e/abli% ?re%olds = !     
crit]ia ( economic di/ress "u ?is       

p>agraph4  7#c7 ,neighborhood           
revitalization support activities ,=    
purposes ( ?is section1 neighborhood    
revitalization support activities are ! 
foll[+3 7,a7 ,provid+ assi/ance to exi/+
 resid5ts exp]i5c+ economic di/ress or  
at risk ( displacem5t ) home[n]         
rehabilitation assi/ance1 wea!rization1 
improv$ h\s+ accessibility & livability 
= s5iors & p]sons ) disabilities1 en]gy 
effici5cy improvem5ts1 ref9anc+1 h\s+   
c\nsel+ c]tifi$ by ! ,secret>y1 includ+ 
loss mitigation c\nsel+1 prop]ty tax    
relief1 cle>+ & obta9+ =mal title1      
address+ out/&+ h\s+-relat$ exp5ses1 or 
o!r activities t ! ,secret>y det]m9es   
are appropriate4  7,b7 ,pur*as+         
non-p]=m+ mortgages to assi/ exi/+      
home[n]s & advance neighborhood         
/ability4  7,c7 ,support+ ! pur*ase &   
r$evelopm5t ( vacant1 ab&on$1 or        
di/ress$ prop]ties to create af=dable   
r5tal h\s+1 home[n]%ip or %>$ equity    
home[n]%ip opportunities1 mix$-use      
prop]ties1 or comm]cial prop]ties4      

,prop]ties support$ ) assi/ance "u ?is  
subp>agraph may be conv]t$ betwe5 r5tal 
& home[n]%ip1 includ+ %>$ equity        
home[n]%ip1 ^u t]m9ation ( ! lease or   
transf] ( ! prop]ty dur+ ! relevant     
p]iod ( af=dability to ensure local     
community ne$s are met1 prop]ties d n   
sit vacant1 & af=dability is pres]v$4   
7,d7 ,provid+ pre-pur*ase c\nsel+ ?r\gh 
h\s+ c\nselors c]tifi$ by ! ,secret>y = 
neighborhood revitalization support     
activities t provide home[n]%ip         
opportunities4  7,e7 ,provid+ d[n paym5t
 & clos+ co/ assi/ance to prospective   
homebuy]s4  7,f7 ,e/abli%+ & op]at+     
community l& tru/s to provide af=dable  
r5tal & home[n]%ip opportunities1       
includ+ %>$ equity home[n]%ip           
opportunities4  7,g7 ,demoli%+ ab&on$ or
 di/ress$ /ructures1 b only if su*      
activity is "p ( a /rategy t            
incorporates rehabilitation or new      
con/ruction & ef=ts to increase af=dable
 h\s+ & home[n]%ip1 except t n m ?an #aj
 p]c5t ( any grant made "u ?is section  

may be us$ = activities "u ?is          
subp>agraph unless ! ,secret>y det]m9es 
t su* use is to replace units 9 an ef=t 
to increase af=dable h\s+ or home[n]%ip4
  7,h7 ,e/abli%+ or op]at+ l& banks to  
ma9ta9 acquire1 r$evelop1 or sell       
prop]ties t are ab&on$ or di/ress$4     
,pref]5ce among applications propos+    
activities "u ?is subp>agraph %all be   
giv5 to applications t promote          
di/ribution ( prop]ties = af=dable h\s+4
  7,i7 ,improv+ p>ks1 sidewalks1 /reet  
light+1 & o!r neighborhood improvem5ts t
 impact quality ( life 9 ! t>get$       
neighborhoods1 except t n m ?an #e p]c5t
 ( any grant made "u ?is section may be 
us$ = activities "u ?is subp>agraph4    
7,j7 ,9 connection ) any o!r eligible   
activity "u ?is p>agraph1 work+ )       
resid5t lead]s & community gr\ps to     
und]take community plann+1 outrea*1 &   
neighborhood engagem5t1 consi/5t ) !    
goals ( increas+ home[n]%ip1 /abiliz+   
neighborhoods1 r$uc+ vacancy rates1     
creat+ jobs1 increas+ or /abiliz+       

resid5tial & comm]cial prop]ty values1 &
 meet+ o!r neighborhood ne$s1 except t n
 m ?an #aj p]c5t ( any grant made "u ?is
 section may be us$ = activities "u ?is 
subp>agraph4  7#d7 ,af=dability t]ms    
7,a7 ,r5tal units ,9 ! case ( prop]ty   
assi/$ pursuant to p>agraph 7#c7 conta9+
 any dwell+ units t are made available =
 r5tal-- 7i7 su* units %all be available
 = r5tal only by a h\sehold hav+ an     
income t does n exce$ #fj p]c5t ( !     
m$ian income = ! area 9 :i* su* unit is 
locat$2  7ii7 su* units %all rema9      
af=dable = at lea/ #cj ye>s2  7iii7 su* 
prop]ty may be a mix$-use prop]ty2 &    
7iv7 su* unit %all be ma9ta9$ 9         
habitable condition1 z def9$ by !       
locality 9 :i* ! prop]ty is locat$4     
7,b7 ,home[n]%ip units ,9 ! case (      
prop]ty assi/$ pursuant to p>agraph 7#c7
 consi/+ ( a dwell+ unit1 or conta9+ any
 dwell+ units1 made available =         
home[n]%ip1 su* unit or units-- 7i7 %all
 be available = pur*ase only to by a    
h\sehold hav+ an income t does n exce$  

#abj p]c5t ( ! m$ian income = ! area 9  
:i* su* unit is locat$2  7ii7 if made   
available ?r\gh a %>$ equity home[n]%ip 
program1 %all rema9 af=dable = at lea/  
#cj ye>s2 &  7iii7 if n made available  
?r\gh a %>$ equity home[n]%ip program-- 
7,i7 %all rema9 af=dable = a p]iod (    
ye>s z det]m9$ by ! p>tn]%ip1 :i* %all n
 be %ort] ?an #e ye>s f ! sale ( ! unit2
 &  7,,ii7 %all be subject to resale or 
recapture provisions t-- 7aa7 are       
e/abli%$ by ! p>tn]%ip to ensure t !    
af=dability t]m may be met or funds may 
be r$eploy$ = neighborhood              
revitalization support activities2  7bb7
 may be waiv$ 9 cases ( h>d%ip or m>ket 
depreciation2 &  7cc7 provide t1 9 !    
case ( a resale1 ! p>tn]%ip may ma9ta9  
preemptive pur*ase options 9 ord] to    
sell ! prop]ty to ano!r income qualifi$ 
pur*as]4  ,if a prop]ty conv]ts betwe5  
r5tal & home[n]%ip or %>$ equity        
home[n]%ip1 ! af=dability t]ms ( ! new  
t5ure type %all be utiliz$ ^u occupancy4
  7c7 ,applications  7#a7 ,9 g5]al ,to  

apply to receive a grant "u ?is section1
 an eligible local p>tn]%ip %all submit 
to ! ,secret>y an application at su* "t1
 9 su* mann]1 & conta9+ su* in=mation z 
! ,secret>y may require4  7#b7 ,grant   
recipi5t priority selection crit]ia ,!  
,secret>y %all prioritize aw>d+ grants  
bas$ on ! foll[+ crit]ia3 7,a7 ,!       
sev]ity ( ! locality's indicators (     
di/ress "u subsection 7b77#b74  7,b7 ,! 
ext5t to :i* ! activities propos$ w--   
7i7 9 ! case ( r5tal h\s+1 b5efit       
h\seholds hav+ incomes n exce$+ #cj     
p]c5t ( ! m$ian income = ! area2 &  7ii7
 9 ! case ( home[n]%ip h\s+1 includ+ %>$
 equity home[n]%ip1 b5efit h\seholds    
hav+ incomes n exce$+ #hj p]c5t ( !     
m$ian income = ! area4  7,c7 ,:e!r !    
activities propos$ w promote af=dable   
home[n]%ip & ! ext5t to :i* su*         
af=dability t]ms w be pres]v$4  7,d7 ,! 
ext5t to :i* an eligible p>tn]%ip t     
includes a public h\s+ ag5cy w use h\s+ 
*oice v\*]s to support home[n]%ip =     
h\seholds at or bel[ #fj p]c5t ( area   

m$ian income4  7,e7 ,! demon/rat$       
capacity ( an eligible local p>tn]%ip to
 execute ! propos$ eligible neighborhood
 revitalization support activities4     
7,f7 ,! demon/rat$ community plann+1    
outrea*1 & engagem5t practices ( an     
eligible local p>tn]%ip4  7,g7 ,! dep? &
 bread? ( ! community p>tn]%ip support+ 
! application4  7,h7 ,! ext5t to :i*    
exi/+ resid5ts are assi/$ to prev5t     
displacem5t4  7,i7 ,! ext5t to :i* !    
propos$ neighborhood revitalization     
support activities w\ld help close !    
racial weal? gap by increas+ m9ority    
home[n]%ip1 ensur+ equitable access to  
h\s+ & economic opportunity1 & c\nt]+ ! 
ongo+ legacy ( r$l9+ policies4  7,j7 ,! 
ext5t to :i* developm5t ( new units are 
wat] & en]gy effici5t4  7,k7 ,!         
feasibility ( ! propos$ neighborhood    
revitalization support activities       
consid]+ local m>ket conditions4  7,l7  
,! ext5t to :i* an application          
demon/rates compreh5sive community      
plann+ ef=ts & additional funds 9 h& or 

committ$ = activities 9 ! geographic    
area t are n directly relat$ to !       
provision ( af=dable h\s+1 su* z support
 = small1 m9ority1 & wom5-own$ bus9ess  
activity 9 comm]cial zones 9 ! t>get$   
neighborhoods4  7#c7 ,geographical      
div]sity ,! ,secret>y %all seek to make 
grants "u ?is section = local p>tn]%ips 
s]v+ geographically div]se areas (      
economic di/ress z def9$ 9 subsection   
7b77#b71 includ+ metropolitan & und]s]v$
 rural areas4  7d7 ,op]ation co/s ,up to
 #ae p]c5t ( ! am\nt ( ea* grant "u ?is 
section may be us$ by ! recipi5t =      
adm9i/rative & organizational support   
co/s4  7e7 ,te*nical assi/ance &        
capacity build+ ,! ,secret>y may res]ve 
up to #a p]c5t ( any funds appropriat$  
to c>ry out ?is section = te*nical      
assi/ance activities :i* support        
grantees "u ?is program & #a p]c5t (    
funds f ea* grant aw>d$ %all be us$ to  
develop grantee capacity to meet !      
requirem5ts "u p>agraphs 7#a7 & 7#b7 (  
subsection 7f74  7f7 ,acc\ntability (   

recipi5ts  7#a7 ,requirem5ts ,!         
,secret>y %all-- 7,a7 require ea*       
grantee "u ?is section to develop &     
ma9ta9 a sy/em to ensure t ea* recipi5t 
( assi/ance uses su* am\nts 9 accordance
 ) ?is section1 ! regulations issu$ "u  
?is section1 & any requirem5ts or       
conditions "u :i* su* am\nts 7 provid$2 
&  7,b7 e/abli% m9imum requirem5ts =    
agreem5ts betwe5 ! grantee & !          
,secret>y1 reg>d+ assi/ance f grants "u 
?is section1 :i* %all include-- 7i7     
appropriate p]iodic f9ancial & project  
report+1 record ret5tion1 & audit       
requirem5ts = ! duration ( ! grant to ! 
recipi5t to ensure compliance ) !       
limitations & requirem5ts ( ?is section 
& ! regulations "u ?is section2 &  7ii7 
any o!r requirem5ts t ! ,secret>y       
det]m9es are necess>y to ensure         
appropriate grant adm9i/ration &        
compliance4  7#b7 ,publicly available   
in=mation ,! ,secret>y %all make        
in=mation reg>d+ ! results ( assi/ance  
provid$ ) am\nts f grants "u ?is section

 publicly available1 :i* %all include at
 lea/ ! foll[+ in=mation3 7,a7 ,a li/ ( 
recipi5ts ( grants aw>d$ "u ?is section 
& ! am\nt ( ea* su* grant4  7,b7 ,a     
description ( ea* neighborhood          
revitalization support activity c>ri$   
out by ea* su* recipi5t & ! impacts     
associat$ ) ea* su* activity1 includ+ ! 
*ange 9 ! rate ( m9ority & fir/-"t      
home[n]%ip4  7,c7 ,! total numb] ( h\s+ 
units acquir$1 r$evelop$1 or produc$ us+
 grant am\nts "u ?is section4  7,d7 ,!  
total numb] ( h\s+ units = r5t1 own]%ip1
 & %>$ equity home[n]%ip assi/$ ) grant 
am\nts "u ?is section & ! numb] (       
b$rooms 9 ea* su* unit4  7,e7 ,!        
p]c5tage ( h\s+ units assi/$ ) grant    
am\nts "u ?is section t are af=dable to 
l[-1 v l[-1 & extremely l[-income       
h\seholds4  7,f7 ,! numb] ( su* h\s+    
units locat$ 9 areas :]e ! p]c5tage (   
h\seholds 9 a racial or e?nic m9ority   
gr\p-- 7i7 is at lea/ #bj p]c5tage po9ts
 high] ?an ! p]c5tage ( ! population ( t
 m9ority gr\p = ! ,metropolitan         

,/ati/ical ,area2  7ii7 is at lea/ #bj  
p]c5tage po9ts high] ?an ! p]c5tage ( ! 
population ( all m9orities = !          
,metropolitan ,/ati/ical ,area2 &  7iii7
 exce$s #ej p]c5t ( ! population4  7,g7 
,any o!r in=mation t ! ,secret>y ( ,h\s+
 & ,urban ,developm5t det]m9es necess>y 
to ensure t h\s+ outcomes & grant       
adm9i/ration & compliance align ) !     
purposes ( ?is ,act4  7g7 ,9 g5]al ,n   
lat] ?an #b ye>s aft] grants "u ?is     
section are fir/ aw>d$ & aga9 #c ye>s   
!reaft]1 ! ,secret>y %all submit to !   
appropriate ,congressional ,committees1 
& make publicly available onl9e1 a      
report t-- 7#a7 evaluates ! impact ( !  
program e/abli%$ "u ?is section2  7#b7  
describes demographic *anges 9 !        
eligible localities s]v$ by grantees (  
grants "u ?is section1 includ+ *anges 9 
income1 race1 & e?nicity1 prop]ty       
values1 & unemploym5t rates2  7#c7      
id5tifies ! numb] ( h\s+ units assi/$ ) 
grant am\nts "u ?is section locat$ 9    
high- & l[-pov]ty c5sus tracts2  7#d7   

id5tifies ! numb] ( accessible units    
creat$ & modifi$ ) grant am\nts "u ?is  
section & :]e su* units are locat$ us+ !
 mo/ granul> location measurem5t t is   
feasible su* z at ! ,c5sus block gr\p   
level2 &  7#e7 id5tifies :]e h\s+ units 
assi/$ ) grant am\nts are locat$ 9      
relation to community assets1 includ+   
high p]=m+ s*ools & public              
transportation options4  7h7 ,def9itions
 ,9 ?is section3 7#a7 ,an*or in/itution 
,! t]m an*or in/itution means a s*ool1 a
 libr>y1 a heal?c>e provid]1 a community
 college or o!r in/itution ( high]      
education1 or ano!r community support   
organization or entity4  7#b7           
,appropriate ,congressional ,committees 
,! t]m appropriate ,congressional       
,committees means ! foll[+3 7,a7 ,!     
,committees on ,f9ancial ,s]vices &     
,appropriations ( ! ,h\se (             
,repres5tatives4  7,b7 ,! ,committees on
 ,bank+1 ,h\s+1 & ,urban ,affairs &     
,appropriations ( ! ,s5ate4  7#c7       
,community l& tru/ ,! t]m community l&  

tru/ means a nonpr(it organization or   
,/ate or local gov]nm5ts or             
in/rum5talities t-- 7,a7 use a gr\nd    
lease or de$ cov5ant ) an af=dability   
p]iod ( at lea/ #cj ye>s or m to-- 7i7  
make r5tal & home[n]%ip units af=dable  
to h\seholds2 &  7ii7 /ipulate a        
preemptive option to pur*ase ! af=dable 
r5tals or home[n]%ip units s t !        
af=dability ( ! units is pres]v$ =      
successive income-eligible h\seholds2 & 
7,b7 monitor prop]ties to ensure        
af=dability is pres]v$4  7#d7 ,l& bank  
,! t]m l& bank means a gov]nm5t entity1 
ag5cy1 or program1 or a special purpose 
nonpr(it entity =m$ by "o or m units (  
gov]nm5t 9 accordance ) ,/ate or local  
l& bank enabl+ law1 t has be5 designat$ 
by "o or m ,/ate or local gov]nm5ts to  
acquire1 /ew>d1 & dispose ( vacant1     
ab&on$1 or o!r problem prop]ties 9      
accordance ) locally det]m9$ priorities 
& goals4  7#e7 ,neighborhood            
revitalization support activity ,! t]m  
neighborhood revitalization support     

activity means an activity describ$ 9   
subsection 7b77#c74  7#f7 ,non-p]=m+    
mortgage ,! t]m non-p]=m+ mortgage means
 a resid5tial mortgage loan t is #ij    
days or m del9qu5t4  7#g7 ,nonpr(it     
organization ,! t]m nonpr(it            
organization means an organization t is 
describ$ 9 section #eja7;c77#c7 ( !     
,int]nal ,rev5ue ,code ( #aihf 7#bf     
,u4,s4,c4 #eja7;c77#c77 & is exempt f   
taxation "u section #eja7;a7 ( su*      
,code4  7#h7 ,%>$ equity home[n]%ip     
program  7,a7 ,9 g5]al ,! t]m %>$ equity
 home[n]%ip program means af=dable      
home[n]%ip pres]vation ?r\gh a resale   
re/riction program adm9i/]$ by a        
community l& tru/1 o!r nonpr(it         
organization1 or ,/ate or local gov]nm5t
 or in/rum5talities4  7,b7 ,af=dability 
requirem5ts ,any su* program "u         
subp>agraph 7,a7 %all-- 7i7 provide     
af=dable home[n]%ip opportunities to    
h\seholds2 &  7ii7 utilize a gr\nd      
lease1 de$ re/riction1 subord9ate loan1 
or simil> legal me*anism t includes     

provisions ensur+ t ! program %all--    
7,i7 ma9ta9 ! home z af=dable =         
subsequ5t v l[-1 l[-1 or mod]ate-income 
families = an af=dability t]m ( at lea/ 
#cj ye>s aft] recordation2  7,,ii7 apply
 a resale =mula t limits ! home[n]'s    
proce$s ^u resale2 &  7,,iii7 provide ! 
program adm9i/rator or su* adm9i/rator's
 assignee a preemptive option to pur*ase
 ! home[n]%ip unit f ! home[n] at       
resale4  7i7 ,au?orization (            
appropriations  7#a7 ,9 g5]al ,!re is   
au?oriz$ to be appropriat$ to c>ry out  
?is section #aj1jjj1jjj1jjj1 :i* %all   
rema9 available until exp5d$4  7#b7 ,set
 asides  7,a7 ,non-,m,s,as ,! ,secret>y 
%all aw>d at lea/ #aj p]c5t ( any am\nts
 appropriat$ pursuant to ?is subsection 
to eligible local p>tn]%ips t w provide 
neighborhood revitalization support     
activities to localities outside ( a    
,metropolitan ,/ati/ical ,area1 z       
designat$ by ! ,(fice ( ,managem5t &    
,budget4 ,! priority "u subsection      
7c77#b77;,i7 7relat+ to mat*+ funds7    

%all n apply to am\nts aw>d$ "u ?is     
p>agraph4  7,b7 ,self-help home[n]%ip   
opportunity program ,( any am\nts       
appropriat$ pursuant to ?is section =   
fiscal ye> #bjba1 ! ,secret>y %all      
res]ve #bej1jjj1jjj = grants "u section 
#aa ( ! ,h\s+ ,opportunity ,program     
,ext5sion ,act ( #aiif 7#db ,u4,s4,c4   
#abhje note71 :i* am\nts %all rema9     
available until ,septemb] #cj1 #bjca4   
7#c7 ,,n(a ,! ,secret>y %all issue a    
,notice ( ,fund+ ,availability = grants 
"u ?is section n lat] ?an ! expiration (
 ! #ahj-;day p]iod beg9n+ ^u ! date ( ! 
enactm5t ( ?is ,act4  #cjd4 ,af=dable   
h\s+ & community developm5t te*nical    
assi/ance & capacity-build+ to exp&     
economic inclusion & prev5t involunt>y  
resid5tial displacem5t  7a7             
,appropriation ,9 addition to am\nts    
o!rwise available1 !re is appropriat$ to
 ! ,secret>y ( ,h\s+ & ,urban           
,developm5t 79 ?is section ref]r$ to z !
 ,secret>y7 #ajj1jjj1jjj1 to rema9      
available until exp5d$1 to e/abli% a    

competitive grant te*nical assi/ance &  
capacity build+ program to c>ry out !   
foll[+ activities3 7#a7 ,tra9+1         
education1 support1 & advice to enhance 
! te*nical & adm9i/rative capabilities (
 community developm5t corporations1     
community h\s+ developm5t organizations1
 & o!r mission-driv5 & nonpr(it         
organizations seek+ to und]take af=dable
 h\s+ developm5t4  7#b7 ,loans1 grants1 
or pr$evelopm5t assi/ance to community  
developm5t corporations1 community h\s+ 
developm5t organizations1 & o!r         
mission-driv5 & nonpr(it organizations  
seek+ to und]take af=dable h\s+         
developm5t4  7#c7 ,su* o!r activities z 
may be det]m9$ by ! grantees 9          
consultation ) ! ,secret>y4  7b7        
,grantees ,grant funds made available "u
 subsection 7a7 %all be provid$ on a    
competitive basis to nonpr(it           
organizations 7z describ$ 9 section     
#eja7;c77#c7 ( ! ,int]nal ,rev5ue ,code 
( #aihf7 t are exempt f taxation "u     
section #eja7;a7 ( su* ,code t-- 7#a7   

t>get capacity-build+ activities to     
m9ority & l[-income populations fac+    
h\s+ in/ability & community dis9ve/m5t2 
or  7#b7 provide capacity-build+        
activities 9 neighborhoods hav+ high    
conc5trations ( m9ority & l[-income     
populations4  7c7 ,exclusion ,no        
nonpr(it organization may receive fund+ 
"u subsection 7a7 9 ! same fiscal ye> t 
x has receiv$ fund+ "u section #d ( !   
,,hud ,demon/ration ,act ( #aiic 7#db   
,u4,s4,c4 #ihaf note74  7d7             
,adm9i/ration1 evaluation & ov]sight ,! 
,secret>y may use up to #aj p]c5t ( !   
am\nts made available "u ?is section = !
 co/s ( ! ,secret>y ( adm9i/]+1         
evaluat+1 & ov]see+ ! implem5tation (   
?is section1 includ+ in=mation          
te*nology1 f9ancial report+1 & o!r co/s4
  #cje4 ,lead haz>d r$uction & heal?y   
homes initiative ,!re is au?oriz$ to be 
appropriat$ #bj1jjj1jjj1jjj1 to rema9   
available until exp5d$1 ( :i*-- 7#a7    
#e1jjj1jjj1jjj %all be = ! ,heal?y      
,homes ,initiative1 pursuant to sections

 #eja & #ejb ( ! ,h\s+ & ,urban         
,developm5t ,act ( #aigj2 &  7#b7 !     
rema9d] %all be = ! ,lead ,haz>d        
,r$uction program ( ! ,secret>y1 z      
au?oriz$ by section #ajaa ( !           
,resid5tial ,lead-,bas$ ,pa9t ,haz>d    
,r$uction ,act ( #aiib1 except t n less 
?an #h1jjj1jjj1jjj ( su* am\nt %all be =
 ! aw>d ( grants to areas ) ! highe/    
lead-bas$ pa9t abatem5t ne$s4  #cjf4    
,community revitalization fund ,!re is  
au?oriz$ to be appropriat$ to !         
,secret>y ( ,h\s+ & ,urban ,developm5t  
to e/abli% a community revitalization   
fund to support community-l$ developm5t 
projects1 #aj1jjj1jjj1jjj1 & any am\nts 
appropriat$ pursuant to ?is section %all
 rema9 available until exp5d$4  #cjg4   
,/r5g!n+ resili5ce "u ,national ,flood  
,insurance ,program  7a7 ,au?orization (
 appropriations ,!re is au?oriz$ to be  
appropriat$ = c>ry+ out ! ,flood        
,mitigation ,assi/ance ,grant program "u
 section #acff ( ! ,national ,flood     
,insurance ,act ( #aifh 7#db ,u4,s4,c4  

#dajd;c7 #aa1ijj1jjj1jjj & any am\nts   
appropriat$ pursuant to ?is section %all
 rema9 available until exp5d$4  7b7     
,multifamily resid5ces & atta*$ &       
semi-,atta*$ homes  7#a7 ,alt]native =ms
 ( mitigation ,) reg>d to any /ructure t
 is a multifamily resid5ce or an atta*$ 
or semi-atta*$ resid5ce1 ! ,adm9i/rator 
( ! ,f$]al ,em]g5cy ,managem5t ,ag5cy   
%all consult ) ! ,secret>y ( ,h\s+ &    
,urban ,developm5t & e/abli% alt]native 
=ms ( mitigation4  7#b7 ,def9ition ,= ! 
purposes ( ?is subsection1 ! t]m        
multifamily resid5ce has ! same mean+ z 
9 ! ,flood ,disa/] ,protection ,act (   
#aigc & ! ,national ,flood ,insurance   
,act ( #aifh4  7c7 ,/&>ds  7#a7 ,9 g5]al
 ,all labor]s & me*anics employ$ by     
contractors or subcontractors 9 !       
p]=mance ( con/ruction1 alt]ation or    
repair "w c>ri$ out1 9 :ole or 9 "p1 )  
assi/ance made available ?r\gh ?is      
section %all be paid wages at rates n   
less ?an ^? prevail+ on projects ( a    
simil> "* 9 ! locality z det]m9$ by !   

,secret>y ( ,labor 9 accordance )       
sub*apt] ,,iv ( *apt] #ca ( title #dj1  
,unit$ ,/ates ,code4 ,) respect to !    
labor /&>ds 9 ?is p>agraph1 ! ,secret>y 
( ,labor %all h ! au?ority & functions  
set =? 9 ,reorganization ,plan ,numb]$  
#ad ( #aiej 7#fd ,/at4 #abfg2 #e        
,u4,s4,c4 ,app47 & section #cade ( title
 #dj1 ,unit$ ,/ates ,code4  7#b7        
,exception bas$ on numb] ( units        
,p>agraph 7#a7 %all n apply to          
s+le-family homes or resid5tial         
prop]ties ( less ?an #e units4  7#c7    
,exception = c]ta9 individuals ,p>agraph
 7#a7 %all n apply to any individual t--
 7,a7 p]=ms s]vices = :i* ! individual  
volunte]$2  7,b7 does n receive         
comp5sation = su* s]vices or is paid    
exp5ses1 reasonable b5efits1 or a nom9al
 fee = su* s]vices2 &  7,c7 is n o!rwise
 employ$ at any "t 9 ! con/ruction "w4  
7d7 ,program debt  7#a7 ,cancellation   
,not)/&+ any o!r provision ( law1 all   
indebt$ness ( ! ,adm9i/rator ( ! ,f$]al 
,em]g5cy ,managem5t ,ag5cy "u any notes 

or o!r obligations issu$ pursuant to    
section #acji7;a7 ( ! ,national ,flood  
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#g #djaf7;a77 & section #ae7;e7 ( !     
,f$]al ,insurance ,act ( #aief 7#db     
,u4,s4,c4 #bdad7;e771 & out/&+ z ( !    
date ( ! enactm5t ( ?is ,act1 is h]eby  
cancel$1 ! ,adm9i/rator & ! ,national   
,flood ,insurance ,fund are reliev$ (   
all liability to ! ,secret>y ( !        
,treasury "u any su* notes or o!r       
obligations1 includ+ = any capitaliz$   
int]e/ due "u su* notes or o!r          
obligations & any o!r fees & *>ges      
payable 9 connection ) su* notes &      
obligations1 & ! total am\nt ( notes &  
obligations issu$ by ! ,adm9i/rator     
pursuant to su* section %all be consid]$
 to be r$uc$ by su* am\nt = purposes ( !
 limitation on su* total am\nt "u su*   
section4  7#b7 ,treatm5t ( cancel$ debt 
,! am\nt ( ! indebt$ness cancel$ "u     
p>agraph 7#a7-- 7,a7 may be treat$ z a  
public debt ( ! ,unit$ ,/ates2 &  7,b7  
is designat$ z an em]g5cy pursuant to   

section #d7;g7 ( ! ,/atutory            
,pay-,z-,y-,g ,act ( #bf #bjaj 7#b      
,u4,s4,c4 #icc7;g774  #cjh4 ,cap on     
annual ,national ,flood ,insurance      
,program  7a7 ,def9ition ,9 ?is section1
 ! t]m cov]$ co/ means-- 7#a7 ! am\nt ( 
an annual premium ) respect to any      
policy = flood insurance "u ! ,national 
,flood ,insurance ,program2  7#b7 any   
sur*>ge impos$ ) respect to a policy    
describ$ 9 p>agraph 7#a71 includ+ a     
sur*>ge impos$ "u-- 7,a7 section        
#acjd7;b7 ( ! ,national ,flood          
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#djaa7;b772 or  7,b7 section #acjh;,a7a7
 ( ! ,national ,flood ,insurance ,act ( 
#aifh 7#db ,u4,s4,c4 #djae;a7a772 &     
7#c7 a fee describ$ 9 p>agraph          
7#a77;,b77iii7 or 7#b7 ( section        
#acjg7;a7 ( ! ,national ,flood          
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#djad7;a774  7b7 ,limitation on         
increases ,dur+ ! #e-ye> p]iod beg9n+ on
 ! date ( enactm5t ( ?is ,act1 & not)/&+
 section #acjh7;e7 ( ! ,national ,flood 

,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#djae7;e771 ! ,adm9i/rator ( ! ,f$]al   
,em]g5cy ,managem5t ,ag5cy 79 ?is       
section ref]r$ to z ! ,adm9i/rator7 may 
n1 9 any ye>1 increase ! am\nt ( any    
cov]$ co/ by any am\nt t is m ?an #i    
p]c5t1 z comp>$ ) ! am\nt ( ! cov]$ co/ 
dur+ ! previ\s ye>4  7c7 ,rule (        
con/ruction ,no?+ 9 subsection 7b7 may  
be con/ru$ z prohibit+ ! ,adm9i/rator f 
r$uc+1 9 any ye>1 ! am\nt ( any cov]$   
co/1 z comp>$ ) ! am\nt ( ! cov]$ co/   
dur+ ! previ\s ye>4  7d7 ,av]age        
hi/orical loss ye> ,section #acjh ( !   
,national ,flood ,insurance ,act ( #aifh
 7#db #aa ,u4,s4,c4 #djae7 is am5d$ by  
/rik+ subsection 7h7 & ins]t+ ! foll[+3 
7h7 ,rule ( con/ruction ,= purposes (   
?is section1 ! calculation ( an av]age  
hi/orical loss ye> %all be comput$ 9    
accordance ) g5]ally accept$ actu>ial   
pr9ciples4  4  7e7 ,disclosure ) respect
 to af=dability /&>d ,! second s5t5ce ( 
section #acjh7;j7 ( ! ,national ,flood  
,insurance ,act ( #aifh 7#db ,u4,s4,c4  

#djae7;j77 is am5d$ by ins]t+ be=e !    
p]iod at ! end ! foll[+3 & %all include 
9 ! report ! numb] ( ^? exceptions z ( !
 date on :i* ! ,adm9i/rator submits !   
report & ! location ( ea* policyhold]   
insur$ "u ^? exceptions1 organiz$ by    
c\nty & ,/ate4  #cji4 ,manufactur+      
facility ,!re is au?oriz$ to be         
appropriat$ to ! ,secret>y ( ! ,treasury
 #aj1jjjj1jjj1jjj1 to e/abli% a         
manufactur+ f9anc+ facility to support  
increas+ ! size1 competitiv5ess1 &      
innovation ( ! ,unit$ ,/ates manufactur+
 sector4  ,,iv ,national ,inve/m5t      
,au?ority ,sy/em  #dja4 ,%ort title ,?is
 title may be cit$ z ! ,national        
,inve/m5t ,au?ority ,act ( #bjba4  #djb4
 ,def9itions ,9 ?is title3 7#a7         
,critical ,public ,infra/ructure ,! t]m 
,critical ,public ,infra/ructure means  
high-quality1 environm5tally safe-- 7,a7
 physical infra/ructure 7includ+        
transportation1 en]gy1 wat]1 &          
communications infra/ructure72  7,b7    
indu/rial infra/ructure 7includ+ dome/ic

 manufactur+ facilities72 &  7,c7 social
 infra/ructure 7includ+ af=dable h\s+1  
education1 & heal?c>e74  7#b7 ,eligible 
,private ,entity ,! t]m ,eligible       
,private ,entity means any non-gov]nm5t 
entity1 or a gr\p ( su* entities1 t--   
7,a7 seeks ! ,,nia fund+ or te*nical    
assi/ance 9 connection ) "o or m        
,critical ,public ,infra/ructure        
projects2  7,b7 is n itself & is n      
controll$ by1 directly or indirectly1 a 
,f9ancial ,int]m$i>y2 &  7,c7 meets !   
entity eligibility crit]ia & any o!r    
requirem5ts & conditions1 e/abli%$ by ! 
,gov]n+ ,bo>d or ! ,,nia ,op]at+        
,subsidi>ies4  7#c7 ,f9ancial ,int]m$i>y
 ,! t]m ,f9ancial ,int]m$i>y means--    
7,a7 a comm]cial bank ) assets above    
#aj1jjj1jjj1jjj2  7,b7 a brok] or deal] 
7z su* t]ms are def9$ "u section #c ( ! 
,securities ,ex*ange ,act ( #aicd72 &   
7,c7 an issu] t w\ld be an inve/m5t     
company1 z def9$ "u ! ,inve/m5t ,company
 ,act ( #aidj1 b = p>agraph 7#a7 or 7#g7
 ( section #c7;c7 ( t ,act4  7#d7       

,gov]n+ ,bo>d ,! t]m ,gov]n+ ,bo>d means
 ! ,gov]n+ ,bo>d ( ! ,,nia4  7#e7       
,national ,inve/m5t ,/rategy ,! t]m     
,national ,inve/m5t ,/rategy means !    
,national ,inve/m5t ,/rategy design$ by 
! ,gov]n+ ,bo>d "u section #dab7;b74    
7#f7 ,,nia ,! t]m ,,nia means !         
,national ,inve/m5t ,au?ority1 e/abli%$ 
"u section #daa4  7#g7 ,,nia ,annual    
,report ,! t]m ,,nia ,annual ,report    
means ! ,,nia ,annual ,report m&at$ "u  
section #daf4  7#h7 ,,nia bond ,! t]m   
,,nia bond means a bond or any o!r debt 
or debt-l in/rum5t issu$ by ! ,,nia or  
an ,,nia ,op]at+ ,subsidi>y4  7#i7 ,,nia
 ,op]at+ ,subsidi>y ,! t]m ,,nia ,op]at+
 ,subsidi>y means-- 7,a7 ! ,,nib2 &     
7,b7 su* o!r gov]nm5t corporations or   
entities z may be e/abli%$ or designat$ 
by an ,act ( ,congress z ,,nia ,op]at+  
,subsidi>ies4  7#aj7 ,,nia ,/aff ,! t]m 
,,nia ,/aff means ! /aff ( ! ,,nia4     
7#aa7 ,,nib ,! t]m ,,nib means t        
,national ,infra/ructure ,bank4  7#ab7  
,portfolio ,project ,! t]m ,portfolio   

,project means any project or und]tak+1 
f9anc$1 manag$1 or o!rwise support$ by  
any ,,nia ,op]at+ ,subsidi>y 9 ! c\rse (
 its bus9ess & 9 accordance ) !         
provisions ( ?is title4  7#ac7 ,project 
,fund+ ,date ,! t]m ,project ,fund+     
,date means1 ) respect to ea* ,,nia     
,portfolio ,project1 ea* date on :i* !  
,,nia-- 7,a7 makes a f9al decision to   
commit to fund+ or p>ticipat+ 9 t       
,portfolio ,project2 &  7,b7 ext5ds     
fund+ or assumes p>ticipation pursuant  
to its commitm5t4  7#ad7 ,/ate ,! t]m   
,/ate means ea* ( ! sev]al ,/ates1 !    
,di/rict ( ,columbia1 ea* t]ritory ( !  
,unit$ ,/ates1 & ea* ,indian ,tribe4  ,a
 ,national ,inve/m5t ,au?ority  #daa4   
,e/abli%m5t ,!re is e/abli%$ ! ,national
 ,inve/m5t ,au?ority1 :i* %all conta9-- 
7#a7 ! ,,nia ,gov]n+ ,bo>d e/abli%$ "u  
?is subtitle2  7#b7 ! ,,nia regional    
(fices e/abli%$ "u subtitle ,b2 &  7#c7 
! ,,nia ,op]at+ ,subsidi>ies1 includ+ ! 
,,nib e/abli%$ "u subtitle ,c4  #dab4   
,functions  7a7 ,,nia mission  7#a7 ,9  

g5]al ,! ,,nia's mission %all be to     
design1 f9ance1 & implem5t a coh]5t &   
dynamic program ( long-t]m national     
economic gr[? & developm5t t is-- 7,a7  
/ructurally & geographically balanc$2   
7,b7 environm5tally su/a9able2  7,c7    
socially equitable2 &  7,d7 9 l9e ) !   
/rategic goals & national int]e/s ( !   
,unit$ ,/ates4  7#b7 ,pr9cipal goals ,9 
fulfill+ its mission "u p>agraph 7#a71 !
 ,,nia %all h ! pr9cipal goals ( !      
foll[+3 7,a7 ,elim9at+ unemploym5t1     
und]employm5t1 & pov]ty4  7,b7 ,ensur+  
univ]sal access to ess5tial goods &     
s]vices4  7,c7 ,prioritiz+ ! communities
 9 greate/ ne$4  7,d7 ,rem$iat+ &       
elim9at+ ?reats to communities aris+ f  
toxic wat]1 l& & air pollution1         
unsu/a9able res\rce use1 & climate      
*ange4  7,e7 ,prioritiz+ environm5tal   
ju/ice hotspots & bol/]+ climate &      
environm5tal resili5ce4  7,f7 ,r$uc+    
gre5h\se gas emissions 9 l9e ) !        
recomm5dations ( ! ,int]gov]nm5tal      
,panel on ,climate ,*ange4  7,g7        

,increas+ dome/ic manufactur+ capacity &
 ensur+ ,u4,s4 competitiv5ess 9 l9e ) ! 
=ego+4  7b7 ,national ,inve/m5t ,/rategy
 ,9 pursuit ( ! ,,nia's mission1 !      
,gov]n+ ,bo>d %all =mulate1 regul>ly    
update1 & implem5t a =w>d-look+         
,national ,inve/m5t ,/rategy t          
mobilizes1 amplifies1 & coord9ates      
inve/m5t ( public & private capital1 ov]
 diff]5t "t horizons1 9-- 7#a7          
equitable1 inclusive1 /ructurally       
balanc$1 & environm5tally su/a9able gr[?
 ( ! ,u4,s4 economy2  7#b7 long-t]m     
developm5t ( dome/ic productive &       
manufactur+ capacity2  7#c7 creation (  
su/a9able & well-pay+ dome/ic jobs2     
7#d7 univ]sal availability (            
high-quality ,critical ,public          
,infra/ructure2  7#e7 elim9ation ( gaps 
9 ! quality ( life & well-be+ ( e?nic & 
racial gr\ps1 z well z among geographic 
regions & communities2  7#f7 broad &    
equitable access to af=dable h\s+2  7#g7
 transition to a l[-c>bon emissions     
economy2  7#h7 te*nology developm5t 9   

support ( national goals2 &  7#i7 su*   
o!r goals z ! ,gov]n+ ,bo>d may det]m9e4
  7c7 ,ov]sight ( ,,nia ,op]at+         
,subsidi>ies ,! ,gov]n+ ,bo>d %all--    
7#a7 e/abli% rules gov]n+ ! op]ations ( 
! ,,nia ,op]at+ ,subsidi>ies2  7#b7     
monitor ! compliance ( ! ,,nia ,op]at+  
,subsidi>ies ) ! rules e/abli%$ "u      
p>agraph 7#a7 & ! provisions ( ?is      
title2  7#c7 sup]vise ! implem5tation ( 
! ,national ,inve/m5t ,/rategy by !     
,,nia ,op]at+ ,subsidi>ies2 &  7#d7     
develop consi/5t policies & proc$ures = 
! ,,nia ,op]at+ ,subsidi>ies ) respect  
to project selection & p]=mance1        
consi/5t ) section #dae & ! o!r         
provisions ( ?is title1 includ+-- 7,a7  
labor1 equity1 & environm5tal crit]ia to
 be us$ 9 ! project-selection process & 
9 ! implem5tation ( projects2  7,b7     
project selection proc$ures2 &  7,c7 !  
community engagem5t process 9 project   
selection4  7d7 ,ov]sight ( ,,nia       
regional (fices ,! ,gov]n+ ,bo>d %all   
e/abli% rules & proc$ures e/abli%+ !    

/ructure & gov]n+ ! op]ation ( ! ,,nia  
regional (fices4  7e7 ,ancill>y         
functions ,! ,gov]n+ ,bo>d %all-- 7#a7  
conduct1 fund1 coord9ate1 & o!rwise     
support academic rese>* & developm5t (  
te*nology & sci5tific k consi/5t ) &    
b5eficial to ! ,national ,inve/m5t      
,/rategy2  7#b7 ma9ta9 regul> &         
effective *annels ( communication &     
public outrea*1 especially ) respect to 
communities 9 areas :]e ! ,,nia conducts
 or plans to conduct its op]ations2     
7#c7 provide te*nical assi/ance to      
public & private entities1 community    
gr\ps1 & individuals p>ticipat+ or      
int5d+ to p>ticipate 9 ! ,,nia project  
selection process2  7#d7 ensure         
compliance ) ! relevant project         
selection crit]ia & all o!r applicable  
requirem5ts ( ?is title & ! ,gov]n+     
,bo>d2  7#e7 collect1 /udy1 & publicize 
data relat+ to inve/m5ts by ! ,,nia &   
,,nia ,op]at+ ,subsidi>ies & ! impact ( 
su* inve/m5ts on economic gr[?1         
su/a9ability1 inclusivity1 & o!r        

measures ( ! nation's well-be+2 &  7#f7 
p]=m any additional functions det]m9$   
necess>y or useful 9 ord] to support or 
enhance ! ,,nia's ability to fulfill its
 mission "u ?is title4  #dac4 ,fund+    
7a7 ,initial appropriation ,!re is      
appropriat$1 out ( any money 9 !        
,treasury n o!rwise appropriat$1 to !   
,gov]n+ ,bo>d #bg1jjj1jjj1jjj = !       
initial e/abli%m5t ( ! ,,nia & ,,nib &  
to c>ry out ?is title1 su* sums to rema9
 available until exp5d$4  7b7 ,f$]al    
,res]ve support  7#a7 ,pur*ase ( ,,nia  
bonds  7,a7 ,9 g5]al ,! ,bo>d (         
,gov]nors ( ! ,f$]al ,res]ve ,sy/em may 
pur*ase ,,nia bonds & o!r debt          
in/rum5ts1 bo? directly f ! ,,nia or    
,,nia ,op]at+ ,subsidi>y & 9 second>y   
m>kets4  7,b7 ,limitation ,! total value
 ( ,,nia bonds & o!r debt in/rum5ts held
 by ! ,bo>d ( ,gov]nors ( ! ,f$]al      
,res]ve ,sy/em at any "o "t may n exce$ 
#be p]c5t ( ! total assets held by !    
,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve    
,sy/em 7exclud+ any am\nts out/&+ "u    

p>agraph 7#b77 & ! ,f$]al res]ve banks4 
,= purposes ( ! prec$+ s5t5ce1 ! total  
asset am\nt %all be calculat$ z ! av]age
 total assets ov] ! prec$+ #f-mon?      
p]iod4  7#b7 ,backup liquidity support  
7,a7 ,9 g5]al ,at ! reque/ ( ! head ( an
 ,,nia ,op]at+ ,subsidi>y1 = purposes ( 
provid+ %ort-t]m liquidity support1 !   
,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve    
,sy/em %all l5d funds to su* ,,nia      
,op]at+ ,subsidi>y-- 7i7 at pref]5tial  
rates2 &  7ii7 on a collat]aliz$ or     
uncollateraliz$ basis4  7,b7 ,limitation
 ,! total value ( out/&+ loans provid$  
by ! ,bo>d ( ,gov]nors ( ! ,f$]al       
,res]ve ,sy/em "u ?is p>agraph may n    
exce$ #be p]c5t ( ! total assets held by
 ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve 
,sy/em & ! ,f$]al res]ve banks4 ,=      
purposes ( ! prec$+ s5t5ce1 ! total     
asset am\nt %all be calculat$ z ! av]age
 total assets ov] ! prec$+ #f-mon?      
p]iod4  7c7 ,treasury l9e ( cr$it  7#a7 
,9 g5]al ,at ! reque/ ( ! ,*air or      
,vice-,*air ( ! ,gov]n+ ,bo>d1 !        

,secret>y ( ! ,treasury %all l5d funds  
to "o or m ,,nia ,op]at+ ,subsidi>y     
designat$ 9 su* reque/1 at co/4 ,!      
reque/ submitt$ "u ?is provision %all be
 accompani$ by a writt5 atte/ation by ! 
head ( ! relevant ,,nia ,op]at+         
,subsidi>y t su* ,op]at+ ,subsidi>y is  
unable to access ! liquidity support f !
 ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve   
,sy/em au?oriz$ "u subsection 7b74  7#b7
 ,limitation ,! aggregate am\nt ( all   
loans au?oriz$ "u p>agraph 7#a7 at "o "t
 may n exce$ an am\nt equal to #ajj     
p]c5t ( ! ,,nia's total assets4 ,=      
purposes ( ! prec$+ s5t5ce1 ! total     
asset am\nt %all be calculat$ z ! av]age
 total assets ov] ! prec$+ #f-mon?      
p]iod4  7d7 ,,nia bonds  7#a7 ,9 g5]al  
,! ,,nia or ,,nia ,op]at+ ,subsidi>ies  
may issue bonds & o!r debt in/rum5ts1 or
 ,,nia ,bonds1 on t]ms det]m9$ by !     
,gov]n+ ,bo>d or ! issu+ ,,nia ,op]at+  
,subsidi>y1 z applicable1 9 accordance )
 ! requirem5ts ( ?is title4  7#b7       
,exempt securities ,,nia ,bonds & o!r   

in/rum5ts issu$ by ,,nia ,op]at+        
,subsidi>ies %all be exempt f !         
requirem5ts ( section #e ( ! ,securities
 ,act ( #aicc4  7#c7 ,no full fai? &    
cr$it ,,nia ,bonds & o!r in/rum5ts issu$
 by ,,nia ,op]at+ ,subsidi>ies %all n be
 back$ by ! full fai? & cr$it ( ! ,unit$
 ,/ates4  7e7 ,use ( proce$s ,! ,,nia & 
,,nia ,op]at+ ,subsidi>ies %all reta9   
all proce$s f f9anc+1 inve/m5ts1 & o!r  
f9ancial assi/ance made "u ?is title &  
may1 )\t fur!r appropriation1 use su*   
am\nts to c>ry out ?is title4  #dad4    
,,nia ,gov]n+ ,bo>d  7a7 ,e/abli%m5t    
,!re is e/abli%$ ! ,gov]n+ ,bo>d ( !    
,,nia1 z an indep5d5t ,f$]al ag5cy4  7b7
 ,memb]s  7#a7 ,9 g5]al ,! ,gov]n+ ,bo>d
 %all consi/ ( ! foll[+3 7,a7 ,vot+     
memb]s ,n9e vot+ memb]s1 appo9t$ by !   
,presid5t by & ) ! advice & cons5t ( !  
,s5ate4  7,b7 ,non-vot+ memb]s ,! foll[+
 ex-(ficio1 non-vot+ memb]s3 7i7 ,!     
,*airman ( ! ,bo>d ( ,gov]nors ( !      
,f$]al ,res]ve ,sy/em4  7ii7 ,!         
,secret>y ( ! ,treasury4  7iii7 ,!      

,secret>y ( ,h\s+ & ,urban ,developm5t4 
7iv7 ,! ,presid5t ( ea* ,,nia ,op]at+   
,subsidi>y4  7#b7 ,*air2 ,vice ,*air ,! 
,presid5t %all select "o vot+ memb] ( ! 
,gov]n+ ,bo>d to s]ve z ,*air & "o to   
s]ve z ,vice ,*air4  7#c7 ,t]ms ( s]vice
  7,a7 ,9 g5]al ,! vot+ memb]s ( !      
,gov]n+ ,bo>d %all s]ve a #aj-ye> t]m1 &
 memb]s may n s]ve m ?an "o t]m4  7,b7  
,/agg]$ t]ms ,not)/&+ subp>agraph 7,a7--
 7i7 9 appo9t+ ! initial vot+ memb]s ( !
 ,gov]n+ ,bo>d1 ! ,presid5t %all /agg] !
 t]ms ( ! initial memb]s su* t no m ?an 
"o memb]'s t]m ends 9 any "o ye>2 &     
7ii7 ! initial vot+ memb]s ( ! ,gov]n+  
,bo>d may be appo9t$ to a second t]m4   
7#d7 ,qualifications ,9 appo9t+ ! vot+  
memb]s ( ! ,gov]n+ ,bo>d1 ! ,presid5t   
%all ensure t-- 7,a7 all memb]s h       
e/abli%$ exp]tise 9 f9ance1 economics1  
law1 environm5tal sci5ce1 eng9e]+1      
public adm9i/ration1 infra/ructure      
projects1 public heal?1 or o!r relevant 
fields2 &  7,b7 at lea/ #e ( ! memb]s h 
demon/rat$ exp]i5ce )1 & endorsem5t f1  

labor organizations1 nonpr(it           
organizations1 & community advocacy     
gr\ps4  7#e7 ,comp5sation  7,a7 ,*air ,!
 ,*air ( ! ,gov]n+ ,bo>d %all be        
comp5sat$ at ! rate ( pay payable = a   
position at level ,i ( ! ,executive     
,s*$ule "u section #ecab ( title #e1    
,unit$ ,/ates ,code4  7,b7 ,o!r memb]s  
,! memb]s ( ! ,gov]n+ ,bo>d o!r ?an !   
,*air %all be comp5sat$ at ! rate ( pay 
payable = a position at level ,,ii ( !  
,executive ,s*$ule "u section #ecac (   
title #e1 ,unit$ ,/ates ,code4  7c7     
,pr(essional /aff ,to assi/ ! ,,nia 9 ! 
p]=mance ( its responsibilities "u ?is  
title1 ! ,gov]n+ ,bo>d %all e/abli% &   
op]ate pr(essional full-"t /aff1 ! ,,nia
 ,/aff1 ^: /ructure %all include !      
foll[+ units3 7#a7 ,! ,appli$ ,rese>* & 
,te*nology unit1 :i* %all organize1     
f9ance1 & coord9ate appli$ rese>* &     
developm5t ( te*nologies t c\ld improve 
environm5tal1 economic1 & social        
outcomes4  7#b7 ,! ,public ,outrea* &   
,communication unit1 :i* %all ensure !  

cont9u\s fl[ ( in=mation & communication
 betwe5 ! ,gov]n+ ,bo>d & bus9esses &   
communities1 includ+ ?r\gh ! ,,nia      
regional (fices4  7#c7 ,! ,te*nical     
,assi/ance & ,/rategic ,coord9ation     
unit1 :i* %all-- 7,a7 coord9ate public  
inve/m5t /rategies & ensure coop]ation  
among ,f$]al1 ,/ate1 & local ag5cies2 & 
7,b7 provide te*nical assi/ance to      
public & private entities4  7#d7 ,su*   
o!r units z ! ,gov]n+ ,bo>d det]m9es    
necess>y to support its op]ations4  7d7 
,(fice ( ,m9ority & ,wom5 ,inclusion    
,section #cdb7;g77#a7 ( ! ,dodd-,frank  
,wall ,/reet ,re=m & ,consum]           
,protection ,act 7#ab ,u4,s4,c4         
#edeb7;g77#a77 is am5d$-- 7#a7 9        
subp>agraph 7,h71 by /rik+ &4  7#b7 9   
subp>agraph 7,i71 by /rik+ ! p]iod &    
ins]t+ 2 &2 &  7#c7 by add+ at ! end !  
foll[+3  7,j7 ! ,national ,inve/m5t     
,au?ority4  4  7e7 ,int]ag5cy           
consultation & coord9ation ,! ,,nia     
,gov]n+ ,bo>d1 ! ,secret>y ( !          
,treasury1 & ! ,bo>d ( ,gov]nors ( !    

,f$]al ,res]ve ,sy/em %all e/abli% !    
process = regul> consultations to ensure
 effective coop]ation & coord9ation ( _!
 policies & priorities4  #dae4 ,project 
eligibility & selection  7a7 ,9 g5]al   
,subject to ?is section's provisions1 ! 
,gov]n+ ,bo>d %all adopt rules &        
promulgate policies & proc$ures e/abli%+
 core requirem5ts = ! eligibility1      
id5tification1 evaluation1 selection1 & 
ongo+ monitor+ & managem5t ( !          
,portfolio ,projects4 ,9 do+ s1 !       
,gov]n+ ,bo>d %all seek to ensure t !   
,portfolio ,project selection process is
 conduct$ 9 a transp>5t1 effici5t1 &    
publicly acc\ntable mann]1 consi/5t ) ! 
core purposes ( ! ,,nia4  7b7 ,id5tify+ 
pot5tial portfolio projects ,projects   
pot5tially eligible = ,,nia fund+ %all  
be id5tifi$ prim>ily ?r\gh ! foll[+     
*annels3 7#a7 ,ext]nal ,projects        
id5tifi$ by ,f$]al1 ,/ate1 or local     
ag5cies1 public banks1 or o!r           
gov]nm5t-own$ corporations t w\ld b5efit
 f ,,nia managem5t or inve/m5t & meet ! 

,,nia's eligibility requirem5ts4  7#b7  
,int]nal ,prospective projects id5tifi$ 
& propos$ by ! ,,nia /aff1 bas$ on      
int]nal rese>* or 9 collaboration ) !   
outside sci5tific & te*nology exp]ts &  
communities4  7#c7 ,public auction      
,projects-- 7,a7 t meet a set ( crit]ia 
id5tifi$ by ! ,,nia /aff 9 accordance ) 
a p>ticul> inve/m5t goal2 &  7,b7 are   
ann\nc$ to ! public by ! ,,nia 9 a      
public call = proposals 7! auction7 t is
 conduct$ 9 a transp>5t & fair mann]1 z 
det]m9$ by ! ,gov]n+ ,bo>d1 9           
coord9ation ) ! ,,nia regional (fices & 
! ,,nia ,op]at+ ,subsidi>ies4  7c7      
,portfolio project eligibility crit]ia  
7#a7 ,9 g5]al ,! ,,nia & ! ,,nia ,op]at+
 ,subsidi>ies %all prioritize projects &
 inve/m5ts t1 9 ! ,,nia's det]m9ation1 h
 pot5tial to g5]ate tangible long-t]m   
public b5efits & advance ! goals ( !    
,,nia4  7#b7 ,specific project          
eligibility crit]ia ,! ,,nia ,op]at+    
,subsidi>ies %all apply ! foll[+ crit]ia
 & balance ! foll[+ factors1 to det]m9e 

t ea* ,portfolio ,project is eligible = 
! ,,nia fund+1 bo? at ! ,project ,fund+ 
,date & on an ongo+ basis3 7,a7         
,f9ancial & ,economic ,impact ,crit]ia1 
:i* include-- 7i7 pot5tial contribution 
to ! long-t]m gr[? & su/a9ability ( !   
national1 regional1 or local economy2   
7ii7 innovativ5ess & trans=mative       
te*nological pot5tial2  7iii7 pot5tial  
/r5g!n+ ( global competitiv5ess &       
resili5ce ( ! ,u4,s4 economy2  7iv7     
pot5tial = & commitm5t to dome/ic job   
creation & ,buy ,am]ica2  7v7 scale1 "t 
horizons1 expect$ co/s & ca% rev5ues2   
7vi7 availability or lack ( sup]ior or  
viable private or public fund+          
alt]natives2 &  7vii7 su* o!r factors z 
may be appropriate to consid] "u !      
circum/ances4  7,b7 ,environm5tal       
,impact ,crit]ia1 :i* include-- 7i7     
project p>ticipants' record ( or        
commitm5t to m&atory compliance ) all   
relevant environm5tal laws1 regulations1
 & /&>ds2  7ii7 abs5ce ( significant    
climate risk or m&atory climate-risk    

mitigation2  7iii7 pot5tial to          
facilitate a broad] economy-wide %ift to
 clean te*nologies or production2 &     
7iv7 any additional requirem5ts &       
commitm5ts applicable to individual     
types ( project or inve/m5t4  7,c7      
,social & ,racial ,equity ,impact       
,crit]ia1 :i* include-- 7i7 pot5tial to 
improve heal?1 education1 liv+          
conditions1 income1 & ov]all well-be+ ( 
local1 & especially disadvantag$1       
communities2  7ii7 pot5tial to rectify  
racial or socio-economic inequity2      
7iii7 any o!r factors & commitm5ts      
appropriate or necess>y "u !            
circum/ances4  7,d7 ,labor & ,employm5t 
,impact ,crit]ia1 :i* include-- 7i7     
project p>ticipants' record ( or        
commitm5t to m&atory compliance ) all   
relevant labor & wage-relat$ laws1      
regulations & /&>ds1 includ+ requirem5ts
 t ! p>ticipants-- 7,i7 provide writt5  
assurances prescrib$ by ! applicable    
,,nia ,op]at+ ,subsidi>y t any project w
 be p]=m$ ) ! requirem5ts ( ,f$]al laws 

t w\ld o!rwise apply to simil> projects 
to :i* ! ,unit$ ,/ates is a p>ty2       
7,,ii7 ) respect to recipi5ts ( f9ancial
 assi/ance au?oriz$ "u ?is title t funds
 public transportation capital projects1
 z def9$ 9 section #ecjb ( title #di1   
,unit$ ,/ates ,code1 comply ) ! grant   
requirem5ts applicable to grants made "u
 section #ecji ( su* title2  7,,iii7 )  
respect to recipi5t ( f9ancial assi/ance
 = an infra/ructure project involv+     
recon/ruction1 rehabilitation1          
replacem5t1 or expansion t may impact   
curr5t public employees on ! project    
site1 %all protect ! int]e/s ( employees
 affect$ by ! f9ancial assi/ance "u     
arrangem5ts ! ,secret>y ( ,labor        
concludes are fair & equitable 9        
accordance ) section #eccc7;b77#b7 (    
title #di1 ,unit$ ,/ates ,code2  7,,iv7 
) respect to recipi5ts ( f9ancial       
assi/ance au?oriz$ "u ?is title t funds 
freight or pass5g] rail capital         
projects1 z def9$ by section #bbija7b7 (
 title #di1 ,unit$ ,/ates ,code1 %all   

comply ) ! requirem5ts ( section #bbije 
( su* #di2 &  7,v7 ) respect to         
recipi5ts ( f9ancial assi/ance au?oriz$ 
"u ?is title t d n involve a ,f$]al     
contract or assi/ance 9 :i* no ,f$]al   
law is controll+ = contractors1 %all    
apply ,executive ,ord] #acfeh2  7ii7    
project p>ticipants' record ( or        
commitm5t to commitm5t to utilize       
unioniz$ work]s & employees2  7iii7     
project p>ticipants' record ( or        
commitm5t to labor repres5tation 9      
managem5t /ructures2 &  7iv7 any o!r    
factors & commitm5ts appropriate or     
necess>y "u ! circum/ances4  7#c7       
,additional ,gov]n+ ,bo>d au?ority ,!   
,gov]n+ ,bo>d1 9 consultation ) ! ,,nia 
,op]at+ ,subsidi>ies1 may exp&1         
int]pret1 adju/1 or v>y !               
context-specific application ( ! =ego+  
,portfolio ,project eligibility         
requirem5ts1 if do+ s s]ves ! public    
int]e/1 amplifies public b5efits        
associat$ ) ! relevant ,,nia ,projects1 
& facilitates ! implem5tation ( !       

,national ,inve/m5t ,/rategy or ! broad]
 /atutory goals ( ! ,,nia4  7d7 ,entity 
eligibility crit]ia ,! ,gov]n+ ,bo>d    
%all develop eligibility crit]ia = any  
ext]nal p>tn]s1 p>ticipants 91 or       
recipi5ts ( ! ,,nia fund+ = ,portfolio  
,projects1 includ+ ,eligible ,private   
,entities4  7e7 ,portfolio project      
selection by ,,nia ,op]at+ ,subsidi>ies 
7#a7 ,project analysis & monitor+       
committees ,ea* ,,nia ,op]at+           
,subsidi>y1 includ+ ! ,,nib1 %all       
e/abli% a special ,project ,analysis &  
,monitor+ ,committee *>g$ ) id5tify+ &  
evaluat+ its inve/m5t prospects &       
select+ individual projects & und]tak+s 
= inclusion 9 su* ,,nia ,op]at+         
,subsidi>y's asset portfolio4 ,9 p]=m+  
^! tasks1 bo? ! ,,nia ,op]at+ ,subsidi>y
 & its ,project ,analysis & ,monitor+   
,committee %all comply ) ! applicable   
rules1 policies1 & proc$ures promulgat$ 
by ! ,gov]n+ ,bo>d4  7#b7 ,portfolio    
project selection  7,a7 ,9 g5]al ,9     
select+ ,portfolio ,projects1 an ,,nia  

,op]at+ ,subsidi>y %all-- 7i7 comply )  
all rules & proc$ures issu$ by ! ,gov]n+
 ,bo>d "u ?is section2  7ii7 ensure fair
 & equitable access to ,,nia fund+1     
among o!r ?+s1 by ma9ta9+ effective     
communication ) & provid+ te*nical      
assi/ance to local public entities1     
nonpr(it organizations1 employee- or    
community-own$ ent]prise1 />t-ups1 &    
m9ority-run bus9esses2  7iii7 id5tify   
pot5tial inve/m5t opportunities ?r\gh ! 
project id5tification me?ods describ$ "u
 subsection 7b72 &  7iv7 evaluate       
projects ?or\ghly1 apply+ ! project     
eligibility crit]ia specifi$ 9 ?is      
section or e/abli%$ by ! ,gov]n+ ,bo>d4 
7,b7 ,project analysis ,9 evaluat+ &    
select+ pot5tial ,portfolio ,projects1  
ea* ,,nia ,op]at+ ,subsidi>y1 act+ ?r\gh
 its ,project ,analysis & ,monitor+     
,committee %all conduct ! foll[+3 7i7   
,f9ancial analysis ,a f9ancial analysis 
( expect$ direct & indirect rev5ues &   
co/s associat$ ) ! project1 provid$1    
h[ev]1 t su* f9ancial analysis %all n   

con/itute ! sole or pr9cipal basis = !  
,,nia ,op]at+ ,subsidi>y's decisions )  
respect to any project or inve/m5t4     
7ii7 ,public economic b5efit analysis ,a
 public economic b5efit analysis1       
includ+-- 7,i7 ! project$ impact on     
macroeconomic gr[?1 employm5t1 & simil> 
metrics appli$ on local1 ,/ate1         
regional1 or national levels2 &  7,,ii7 
pot5tial measurable b5efits to affect$  
communities1 bus9esses1 & o!r economic  
actors4  7iii7 ,environm5tal & social   
b5efits analysis ,an environm5tal &     
social b5efits analysis1 includ+-- 7,i7 
r$uctions 9 emissions1 increas$         
environm5tal su/a9ability1 & relat$     
metrics2  7,,ii7 long-t]m contribution  
to an environm5tally su/a9able &        
resili5t economic gr[?2  7,,iii7        
increas$ access to h\s+ 7includ+ ?r\gh  
r$uc$ co/s ( liv+71 employm5t 7includ+  
?r\gh r$uc$ commute times & co/s71      
educational1 & o!r opportunities =      
communities2 &  7,,iv7 heal? b5efits    
7includ+ ?r\gh bett] or m equitable     

access to heal?c>e & wellness am5ities74
  7iv7 ,/akehold] impact analysis ,a    
/akehold] impact analysis1 includ+--    
7,i7 t>get$ b5efits = disadvantag$      
communities & gr\ps2 &  7,,ii7          
id5tification ( pot5tial = coop]ation & 
coord9ation ) public & private          
con/itu5cies4  7f7 ,inve/m5t ,advisory  
,c\ncil  7#a7 ,9 g5]al ,to assi/ &      
advise ! ,,nia ,op]at+ ,subsidi>ies on  
te*nical matt]s relat$ to _! respective 
inve/m5t & portfolio managem5t          
/rategies1 ! ,gov]n+ ,bo>d %all e/abli% 
& appo9t ! ,inve/m5t ,advisory ,c\ncil1 
a consultative body compris+ individuals
 widely recogniz$ = _! exp]tise &       
exp]i5ce 9 f9ancial managem5t1 inve/m5t 
bank+1 infra/ructure f9ance1            
macroeconomic analysis1 urban plann+1 & 
relat$ fields4  7#b7 ,duties ,!         
,inve/m5t ,advisory ,c\ncil %all provide
 te*nical advice to ! ,,nia ,op]at+     
,subsidi>ies 9 ord] to assi/ ) a m      
compreh5sive assessm5t ( inve/m5t       
opportunities & p]=mance4 ,! ,inve/m5t  

,advisory ,c\ncil's p[]s & duties %all  
be exclusively ( advisory & consultative
 "*4  7#c7 ,memb]%ip2 conflicts ( int]e/
 ,! ,gov]n+ ,bo>d %all-- 7,a7 det]m9e ! 
numb]1 qualifications1 selection &      
appo9tm5t proc$ures1 t]ms ( s]vice1 &   
rights & responsibilities ( ! ,inve/m5t 
,advisory ,c\ncil memb]s2  7,b7 e/abli% 
rules & proc$ures gov]n+ ! activities ( 
! ,inve/m5t ,advisory ,c\ncil1 includ+  
rules & proc$ures = recusal or removal (
 individual memb]s ( ! ,inve/m5t        
,advisory ,c\ncil ^: p]sonal or         
pr(essional int]e/s may conflict1 or    
appe> to conflict1 ) ! ,,nia's int]e/s &
 objectives2 &  7,c7 ov]see ! op]ation (
 ! ,inve/m5t ,advisory ,c\ncil on an    
ongo+ basis4  #daf4 ,public             
acc\ntability  7a7 ,p]iodic reports &   
congressional te/imony  7#a7 ,reports ,!
 ,gov]n+ ,bo>d %all submit to !         
,presid5t & ,congress1 )9 #ij days aft] 
! la/ day ( ea* fiscal ye>1 a complet$ &
 detail$ ,,nia ,annual ,report ) respect
 to ! prec$+ fiscal ye>1 sett+ =?-- 7,a7

 ! core pr9ciples1 objectives1 &        
implem5tation priorities ( ! ,national  
,inve/m5t ,/rategy ov] diff]5t "t       
horizons2  7,b7 any *anges1 revisions1  
or adju/m5ts to ! ,national ,inve/m5t   
,/rategy & ! ,,nia's developm5tal goals 
& priorities s9ce ! date ( ! la/ ,,nia  
,annual ,report2  7,c7 ! ,gov]n+ ,bo>d's
 discussion & analysis ( ! ,,nia's      
f9ancial results & condition1 ov]all    
p]=mance ( ! ,,nia's /atutory duties &  
public policy objectives1 & actions     
und]tak5 9 pursuit ( su* objectives2    
7,d7 ! discussion & analysis ( !        
environm5tal impact1 social & racial    
equity impact1 & labor & employm5t      
impact ( ! ,,nia's activities2 &  7,e7  
any o!r in=mation ,congress may reque/4 
7#b7 ,te/imony ,9 conjunction ) !       
submission ( ! ,,nia ,annual ,report1 ! 
,*air ( ! ,gov]n+ ,bo>d1 along ) !      
,presid5ts ( ! ,,nib & o!r ,,nia ,op]at+
 ,subsidi>ies1 %all provide writt5 &    
oral te/imony 9 ,congress on matt]s     
cov]$ 9 ! ,,nia ,annual ,report & relat$

 matt]s4  7b7 ,annual audits  7#a7      
,recordkeep+ requirem5t ,! ,,nia & ea*  
,,nia ,op]at+ ,subsidi>y %all ma9ta9    
adequate books & records t correctly    
reflect ! f9ancial transactions1        
condition1 & results ( op]ation ( !     
,,nia or ,,nia ,op]at+ ,subsidi>y4  7#b7
 ,audits  7,a7 ,,gao audit ( ,,nia ,!   
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all p]=m an annual audit ( ! ,,nia's   
consolidat$ books ( acc\nt4  7,b7       
,special ,,nia ,audit ,panel  7i7 ,9    
g5]al ,! ,comptroll] ,g5]al ( ! ,unit$  
,/ates %all1 annually1 e/abli% a        
,special ,,nia ,audit ,panel to p]=m an 
indep5d5t audit ( ! f9ancial p]=mance ( 
ea* ,,nia ,op]at+ ,subsidi>y4  7ii7     
,memb]s ,! ,comptroll] ,g5]al %all      
ensure t ea* ,special ,,nia ,audit      
,panel consi/s (-- 7,i7 repres5tatives (
 ! ,gov]nm5t ,acc\ntability ,(fice2 &   
7,,ii7 repres5tatives ( ea* ,u4,s4      
public acc\nt+ firm ( nationally        
recogniz$ /&+4  7#c7 ,acc\nt+ /&>ds ,!  
,,nia & ,,nia ,op]at+ ,subsidi>ies %all 

use g5]ally accept$ acc\nt+ practices or
 su* o!r recomm5d$ acc\nt+ practices z !
 ,gov]n+ ,bo>d det]m9es appropriate4    
7c7 ,public ,int]e/ ,c\ncil  7#a7       
,e/abli%m5t ,!re is e/abli%$ ! ,public  
,int]e/ ,c\ncil 7! ,c\ncil71 an         
indep5d5t advisory & consultative body1 
:i* %all safegu>d ! effective           
repres5tation & incorporation ( !       
int]e/s ( ! ,am]ican p 9 ! =mulation &  
implem5tation ( ! ,national ,inve/m5t   
,/rategy & o!r activities ( ! ,,nia & ! 
,,nia ,op]at+ ,subsidi>ies4  7#b7       
,memb]s ,! ,public ,int]e/ ,c\ncil %all 
consi/ ( #g memb]s1 appo9t$ by !        
,presid5t f among individuals :o-- 7,a7 
are academics1 community lead]s1 consum]
 advocates1 etc42  7,b7 h demon/rat$    
exp]tise 9 v>i\s areas relevant to !    
,,nia's ov]all mission1 exp]i5ce 9      
community repres5tation1 & reputation = 
integrity2 &  7,c7 d n h a conflict (   
int]e/4  7#c7 ,functions & p[]s ,!      
,public ,int]e/ ,c\ncil %all-- 7,a7     
advise ! ,gov]n+ ,bo>d on matt]s (      

public policy & public well-be+ aris+ 9 
! c\rse ( ! activities ( ! ,,nia & ,,nia
 ,op]at+ ,subsidi>ies2  7,b7 provide an 
indep5d5t public int]e/-bas$ p]spective 
on sub/antive policy issues fac$1 &     
/rategic decisions made1 by ! ,,nia &   
,,nia ,op]at+ ,subsidi>ies 9 ! c\rse (  
fulfill+ _! /atutory functions &        
responsibilities2  7,c7 in=m & advise   
,congress on matt]s ( special public    
conc]n or significance1 z relat$ to !   
op]ations ( ! ,,nia & ,,nia ,op]at+     
,subsidi>ies2  7,d7 recomm5d to         
,congress & ! ,gov]n+ ,bo>d specific    
measures to-- 7i7 correct or improve !  
p]=mance & impact ( ! ,,nia & ,,nia     
,op]at+ ,subsidi>ies on ! well-be+ ( !  
,am]ican public2 or  7ii7 enhance !     
transp>5cy ( ! actions & decisions ( !  
,,nia & ,,nia ,op]at+ ,subsidi>ies2     
7,e7 h broad rights to reque/ access to 
! books & records ( ! ,,nia & ,,nia     
,op]at+ ,subsidi>ies & su* o!r in=mation
 necess>y or helpful to ! ,c\ncil 9 !   
p]=mance ( its duties2  7,f7 engage 9 an

 ongo+ discussion & dialogue )          
communities1 public int]e/ gr\ps1 mass  
m$ia1 & o!r public /akehold]s1 = !      
purpose ( keep+ ! ,am]ican public in=m$ 
ab\t1 & collect+ public fe$back )       
respect to1 ! activities & plans ( !    
,,nia & ,,nia ,op]at+ ,subsidi>ies2 &   
7,g7 take any o!r actions necess>y or   
incid5tal to any ( ! =ego+4  7#d7       
,congressional reports ,annually1 !     
,public ,int]e/ ,c\ncil %all prep>e &   
submit to ,congress & ! ,presid5t a full
 report1 outl9+ ! ,c\ncil's indep5d5t   
assessm5t (1 & recomm5dations relat$ to1
 ! p]=mance & ! impact ( ! ,,nia & ,,nia
 ,op]at+ ,subsidi>ies on issues ( public
 policy significance4  7#e7 ,/aff ,!    
,public ,int]e/ ,c\ncil %all h full-"t  
d$icat$ exclusively to support+ !       
,c\ncil's p]=mance ( its p[]s & duties4 
7#f7 ,fund+ ,!re is appropriat$1 out (  
any money 9 ! ,treasury n o!rwise       
appropriat$1 #aj1jjj1jjj = fiscal ye>   
#bjbb & ea* fiscal ye> !reaft]1 to c>ry 
out ! functions ( ! ,public ,int]e/     

,c\ncil4  ,b ,,nia ,regional ,(fices    
#dba4 ,e/abli%m5t  7a7 ,9 g5]al ,!      
,gov]n+ ,bo>d %all e/abli% regional     
(fices ( ! ,,nia 9 ea* ( ! foll[+ #ah   
geographic regions3 7#a7 ,region #a1    
encompass+ ! ,/ates ( ,ma9e1 ,v]mont1   
,new ,hamp%ire1 ,massa*usetts1 & ,rhode 
,isl&4  7#b7 ,region #b1 encompass+ !   
,/ates ( ,new ,york1 ,new ,j]sey1 &     
,connecticut4  7#c7 ,region #c1         
encompass+ ! ,/ates ( ,p5nsylvania1     
,ohio1 ,we/ ,virg9ia1 ,delaw>e1 &       
,k5tucky4  7#d7 ,region #d1 encompass+ !
 ,/ates ( ,virg9ia1 ,m>yl&1 ,nor?       
,c>ol9a1 & ,s\? ,c>ol9a & ! ,di/rict (  
,columbia4  7#e7 ,region #e1 encompass+ 
! ,/ates ( ,t5nessee1 ,mississippi1     
,alabama1 & ,arkansas4  7#f7 ,region #f1
 encompass+ ! ,/ates ( ,florida &       
,georgia4  7#g7 ,region #g1 encompass+ !
 ,/ates ( ,mi*igan1 ,wiscons91 ,indiana1
 & ,ill9ois4  7#h7 ,region #h1          
encompass+ ! ,/ates ( ,m9nesota1 ,i[a1 &
 ,miss\ri4  7#i7 ,region #i1 encompass+ 
! ,/ates ( ,kansas1 ,nebraska1 ,nor?    

,dakota1 & ,s\? ,dakota4  7#aj7 ,region 
#aj1 encompass+ ! ,/ates ( ,l\isiana1   
,oklahoma1 & ,texas4  7#aa7 ,region #aa1
 encompass+ ! ,/ates ( ,montana1 ,wyom+1
 & ,idaho4  7#ab7 ,region #ab1          
encompass+ ! ,/ates ( ,colorado1 ,utah1 
& ,nevada4  7#ac7 ,region #ac1          
encompass+ ! ,/ates ( ,arizona & ,new   
,mexico4  7#ad7 ,region #ad1 encompass+ 
! /ate ( ,cali=nia4  7#ae7 ,region #ae1 
encompass+ ! ,/ates ( ,wa%+ton &        
,oregon4  7#af7 ,region #af1 encompass+ 
! ,/ate ( ,alaska4  7#ag7 ,region #ag1  
encompass+ ! ,/ate ( ,hawaii4  7#ah7    
,region #ah1 encompass+ ! t]ritories (  
,pu]to ,rico1 ,guam1 ,u4,s4 ,virg9      
,isl&s1 ,am]ican ,samoa1 & ,nor!rn      
,m>iana ,isl&s4  7b7 ,adju/m5ts ,!      
,gov]n+ ,bo>d may adju/ ! composition ( 
! regions describ$ "u subsection 7a7 f  
to "t to "t if ! ,gov]n+ ,bo>d det]m9es 
x appropriate4  #dbb4 ,organization &   
/ructure  7a7 ,lead]%ip ,subject to !   
rules & proc$ures e/abli%$ "u section   
#dab7;d71 ea* regional (fice %all be    

head$ by a ,director1 :o %all be appo9t$
 by ! ,gov]n+ ,bo>d & be directly       
acc\ntable to x4  7b7 ,,nia /aff ,!     
,director ( ea* regional (fice %all     
appo9t /aff to provide regional support 
to ! ,gov]n+ ,bo>d 9 c>ry+ out ! duties 
( ! ,gov]n+ ,bo>d4  7c7 ,,nia ,op]at+   
,subsidi>ies ,! head ( ea* ,,nia ,op]at+
 ,subsidi>y %all locate /aff )9 ea*     
regional (fice to provide ! subsidi>y ) 
regional support 9 c>ry+ out ! duties ( 
! subsidi>y4  #dbc4 ,functions ,9       
addition to ! functions describ$ "u     
section #dbb1 ! regional (fices %all--  
7#a7 s]ve z ! key liaison betwe5 ! ,,nia
 & ,/ate & local public au?orities1     
bus9esses1 & communities2  7#b7         
p>ticipate 9 ,portfolio ,project        
id5tification1 selection1 & managem5t1 9
 ord] to ensure effective repres5tation 
( local & regional economic & community 
ne$s & int]e/s & to provide an          
additional s\rce ( public acc\ntability 
= ! ,,nia2  7#c7 coop]ate & coord9ate ! 
,,nia's regional op]ations ) !          

activities ( regional ,f$]al res]ve     
banks & o!r ,f$]al ag5cies2 &  7#d7     
enc\rage ! creation (1 & coop]ate )1    
,/ate & local public banks1 developm5t  
banks1 gre5 banks1 & o!r public f9ance  
in/itutions4  ,c ,national              
,infra/ructure ,bank  #dca4 ,e/abli%m5t 
,!re is e/abli%$1 z a ,gov]nm5t         
corporation subject to *apt] #ia ( title
 #ca1 ,unit$ ,/ates ,code1 ! ,national  
,infra/ructure ,bank 7,,nib74  #dcb4    
,functions  7a7 ,,nib m&ate ,! m&ate ( !
 ,,nib %all be to implem5t ! ,national  
,inve/m5t ,/rategy by engag+ 9 cr$it    
m>ket activities support+ public &      
private inve/m5t 9 ,critical ,public    
,infra/ructure projects4  7b7 ,p[]s ,!  
,,nib %all h ! foll[+ p[]s3 7#a7 ,to    
make s5ior or subord9at$ loans1 pur*ase 
s5ior or subord9at$ debt & equity       
securities1 or to ent] into a b9d+      
commitm5t to d any ( ! =ego+1 ! proce$s 
( :i* are to be us$ to f9ance or        
ref9ance ! developm5t ( "o or m         
,critical ,public ,infra/ructure        

projects4  7#b7 ,to issue gu>antees4    
7#c7 ,to issue & sell debt obligations (
 ! ,,nib1 on secur$ or unsecur$ basis1 (
 su* maturities & on su* t]ms z ! ,,nib 
,bo>d %all det]m9e f "t to "t4  7#d7 ,to
 pur*ase 9 ! op5 m>ket any ( ,,nib's    
out/&+ obligations at any "t & at any   
price ! ,,nib ,bo>d det]m9es appropriate
 "u ! circum/ances4  7#e7 ,to monitor & 
ov]see ,portfolio ,projects f9anc$1 9   
:ole or 9 "p1 by ! ,,nib4  7#f7 ,to     
ex]cise all o!r lawful p[]s :i* are     
necess>y or appropriate to c>ry out1 &  
are consi/5t )1 ! purposes ( ! ,,nib4   
7c7 ,inve/m5t priorities ,9 c>ry+ out ! 
m&ate ( ! ,,nib1 ! ,,nib ,bo>d %all1    
subject to ! rules e/abli%$ by ! ,gov]n+
 ,bo>d "u section #dae-- 7#a7 conduct   
risk analysis & manage portfolio risk2  
7#b7 t>get inve/m5ts bas$ on _! pot5tial
 to produce long-t]m public b5efits & h 
a long-t]m economic impact & n bas$     
solely on anticipat$ rev5ues or pr(it   
consid]ations2  7#c7 9 c>ry+ out direct 
l5d+ activities1 t>get & prioritize     

projects t h "s national socioeconomic  
significance b face difficulty 9 secur+ 
l[-co/ f9anc+ 9 traditional m>kets2 &   
7#d7 9 c>ry+ out second>y m>ket-mak+    
activities1 prioritize municipal bonds  
support+ public goods & projects1 by    
pur*as+ su* bonds directly f ,/ate &    
local public issu]s at favorable rates4 
#dcc4 ,,nib ,gov]nance  7a7 ,bo>d (     
,directors  7#a7 ,9 g5]al ,!re is       
e/abli%$ ! ,bo>d ( ,directors ( ! ,,nib1
 :i* %all1 subject to ! rules ( ! ,,nia 
e/abli%$ "u section #dab7;c71 s]ve z !  
head ( ! ,,nib4  7#b7 ,memb]%ip ,! ,,nib
 ,bo>d %all consi/ ( ! foll[+ #i memb]s3
 7,a7 ,class ,a directors ,?ree class ,a
 directors1 to be appo9t$ by ! ,presid5t
 by & ) ! advice & cons5t ( ! ,s5ate--  
7i7 "o ( :i* %all be designat$ by !     
,presid5t z ! ,presid5t ( ! ,,nib2 &    
7ii7 "o ( :i* %all be designat$ by !    
,presid5t z ! ,vice ,presid5t ( ! ,,nib4
  7,b7 ,class ,b directors ,?ree class  
,b directors1 to be appo9t$ by !        
,presid5t1 by & ) ! advice & cons5t ( ! 

,s5ate1 f among a pool ( c&idates       
nom9at$ by ! private sector4  7,c7      
,class ,c directors ,?ree class ,c      
directors1 to be appo9t$ by ! ,presid5t1
 by & ) ! advice & cons5t ( ! ,s5ate1 f 
among a pool ( c&idates nom9at$ by      
labor1 environm5tal1 & o!r public int]e/
 organizations4  7#c7 ,qualifications   
,class ,a & ,b directors %all be appo9t$
 f among individuals ) prov5 te*nical   
exp]tise & exp]i5ce 9 core fields1      
includ+ infra/ructure f9ance1 bank+1    
public f9ance1 macroeconomics1          
environm5tal sci5ce or eng9e]+1 & su*   
o!r non-f9ancial discipl9es z ! ,gov]n+ 
,bo>d may det]m9e appropriate4  7#d7    
,conflicts ( int]e/ ,! ,gov]n+ ,bo>d    
%all e/abli% /rict conflicts-(-int]e/   
prohibitions applicable to class ,a & ,b
 directors4  7#e7 ,selection ( entities 
nom9at+ c&idates ,! ,gov]n+ ,bo>d %all  
e/abli% policies & proc$ures = select+  
:i* entities may nom9ate directors = !  
position ( ,class ,b & ,c directors4    
7#f7 ,t]ms ( s]vice  7,a7 ,9 g5]al ,!   

memb]s ( ! ,,nib ,bo>d %all s]ve a      
#aj-ye> t]m1 & memb]s may n s]ve m ?an  
"o t]m4  7,b7 ,/agg]$ t]ms ,not)/&+     
subp>agraph 7,a7-- 7i7 9 appo9t+ !      
initial memb]s ( ! ,,nib ,bo>d1 !       
,presid5t %all /agg] ! t]ms ( ! initial 
memb]s su* t no m ?an "o memb]'s t]m    
ends 9 any "o ye>2 &  7ii7 ! initial    
memb]s ( ! ,,nib ,bo>d may be appo9t$ to
 a second t]m4  7#g7 ,comp5sation  7,a7 
,presid5t ,! ,presid5t ( ! ,,nib %all be
 comp5sat$ at ! rate ( pay payable = a  
position at level ,i ( ! ,executive     
,s*$ule "u section #ecab ( title #e1    
,unit$ ,/ates ,code4  7,b7 ,o!r memb]s  
,! memb]s ( ! ,,nib ,bo>d o!r ?an !     
,presid5t %all be comp5sat$ at ! rate ( 
pay payable = a position at level ,,ii (
 ! ,executive ,s*$ule "u section #ecac (
 title #e1 ,unit$ ,/ates ,code4  7b7    
,committees ,! ,,nib %all h ! foll[+    
committees3 7#a7 ,! ,executive          
,committee1 :i* %all be compris$ ( !    
,presid5t ( ! ,,nib1 ! ,vice ,presid5t (
 ! ,,nib1 & ! executive (fic]s describ$ 

"u subsection 7c74  7#b7 ,! ,risk       
,managem5t ,committee4  7#c7 ,! ,project
 ,analysis & ,monitor+ ,committee4  7#d7
 ,! ,audit & ,compliance ,committee4    
7#e7 ,! ,policy ,impact ,committee1 :i* 
%all focus on macroeconomic analysis &  
policy1 community impact1 & labor-relat$
 /&>ds4  7#f7 ,su* o!r committees z !   
,,nib ,bo>d det]m9es necess>y4  7c7     
,executive (fic]s ,! ,,nib ,bo>d %all   
appo9t1 remove1 fix ! comp5sation1 &    
def9e duties ( ! ,,nib's executive      
(fic]s1 :o %all include-- 7#a7 ! ,*ief  
,f9ancial ,(fic]2  7#b7 ! ,*ief         
,compliance ,(fic]2  7#c7 ! ,*ief ,risk 
,(fic]2  7#d7 ! ,*ief ,op]ations ,(fic]2
  7#e7 ! ,g5]al ,c\nsel2 &  7#f7 su* o!r
 executive (fic]s z ! ,,nib ,bo>d       
det]m9es necess>y4  7d7 ,bylaws ,! ,,nib
 ,bo>d %all adopt bylaws & su* o!r rules
 z are necess>y = ! prop] managem5t &   
function+ ( ! ,,nib4  #dcd4 ,project    
eligibility & selection  7a7 ,9 g5]al ,!
 ,,nib ,bo>d %all e/abli% eligibility & 
selection crit]ia = ! ,,nib ,portfolio  

,projects1 subject to ! provisions (    
section #dae & ! policies & proc$ures = 
project selection & p]=mance e/abli%$ by
 ! ,gov]n+ ,bo>d "u section             
#dae7;e77#b74  7b7 ,specific crit]ia ,9 
e/abli%+ ! crit]ia requir$ "u subsection
 7a71 ! ,,nib ,bo>d %all prioritize     
provid+ cr$it support & te*nical        
assi/ance to ,/ate1 ,tribal1 & local    
au?orities & o!r public entities1 =     
purposes ( f9anc+ ,critical ,public     
,infra/ructure4  ,v ,home[n]%ip         
inve/m5ts  #eja4 ,fir/-g5]ation         
d[npaym5t assi/ance  7a7 ,d[npaym5t     
program  7#a7 ,e/abli%m5t ,! ,secret>y (
 ,h\s+ & ,urban ,developm5t %all c>ry   
out a program "u ?is section to provide 
grants to ,/ates & eligible entities to 
provide f9ancial assi/ance "u ?is       
section to fir/-g5]ation homebuy]s to   
assi/ !m ) acquir+ own]-occupi$ prim>y  
resid5ces4  7#b7 ,allocation ,aft]      
res]v+ am\nts z requir$ "u subsections  
7e77#d7 & 7g77#b71 any rema9+ am\nts    
made available to c>ry out ?is section  

%all be allocat$ z foll[s3 7,a7 ,/ates  
,sev5ty-five p]c5t ( su* am\nts %all be 
allocat$ among ,/ates 9 accordance ) a  
=mula e/abli%$ by ! ,secret>y1 :i* %all 
take into consid]ation-- 7i7 adult      
population size 7exclud+ exi/+          
home[n]s72  7ii7 m$ian area home prices2
 &  7iii7 racial disp>ities 9 home[n]%ip
 rates4  7,b7 ,eligible entities        
,tw5ty-five p]c5t ( su* am\nts %all be  
made available only to eligible entities
 on a competitive basis4  7#c7          
,assi/ance ,am\nts f a grant "u ?is     
section %all be us$ only to provide     
assi/ance-- 7,a7 on behalf ( a qualifi$ 
homebuy]2 &  7,b7 =-- 7i7 co/s 9        
connection ) ! acquisition1 involv+ an  
eligible mortgage loan1 ( an eligible   
home1 includ+ d[npaym5t co/s1 clos+     
co/s1 & co/s to r$uce ! rates ( int]e/  
on eligible mortgage loans2  7ii7 =     
subsidies to make %>$ equity homes      
af=dable to eligible homebuy]s by       
disc\nt+ ! price = :i* ! home w be sold 
& to pres]ve ! home's af=dability =     

subsequ5t eligible buy]s2 &  7iii7 =    
pre-occupancy home modifications requir$
 to accommodate qualifi$ homebuy]s or   
memb]s ( _! h\sehold ) disabilities4    
7#d7 ,am\nt ,a grant ( assi/ance "u ?is 
section-- 7,a7 may be provid$ on behalf 
( any qualifi$ homebuy] only once2 &    
7,b7 may n exce$ #bj1jjj1 or #be1jjj 9 !
 case ( a qualifi$ homebuy] :o is a     
socially & economically disadvantag$    
individual1 except t ! ,secret>y may    
increase su* maximum limitation am\nts 9
 ! case ( qualifi$ homebuy]s acquir+    
resid5ces locat$ 9 high-co/ areas1 z    
det]m9$ bas$ on m$ian home prices or    
prices ( resid5ces "u a %>$ equity      
home[n]%ip program4  7#e7 ,lay]+ (      
assi/ance ,assi/ance f grant am\nts "u  
?is section may be provid$ on behalf ( a
 qualifi$ homebuy] :o is receiv+        
assi/ance f o!r s\rces1 includ+ o!r     
,/ate1 ,f$]al1 local1 private1 public1 &
 nonpr(it s\rces1 = acquisition ( an    
eligible home4  7#f7 ,/ate adm9i/ration 
7,a7 ,9 ,g5]al ,! ,secret>y %all require

 t ea* ,/ate receiv+ grant am\nts "u ?is
 section adm9i/] ! program to provide   
assi/ance ) su* am\nts ?r\gh ! ,/ate    
h\s+ f9ance ag5cy = ! ,/ate or su* o!r  
h\s+ ag5cy ( ! ,/ate z ! ,secret>y f9ds 
appropriate1 except t any su* ag5cy may1
 at ! option ( ! ag5cy1 contract ) a    
nonpr(it entity1 includ+ a h\s+ c\nsel+ 
ag5cy approv$ by ! ,secret>y1 to adm9i/]
 su* assi/ance4  7,b7 ,affirmatively    
fur!r+ fair h\s+ ,= a ,/ate to be       
eligible = a grant "u ?is section1 !    
,/ate %all be 9 compliance ) !          
,secret>y's regulations implem5t+ !     
requirem5t "u section #hjh7;e77#e7 ( !  
,fair ,h\s+ ,act 7#db ,u4,s4,c4         
#cfjh7;e77#e77 to affirmatively fur!r   
fair h\s+4  7,c7 ,prohibition ( priority
 ,9 select+ qualifi$ homebuy]s =        
assi/ance ) grant am\nts "u ?is section1
 a ,/ate or eligible entity may n       
provide any priority or pref]5ce =      
homebuy]s :o are acquir+ eligible homes 
) a mortgage loan made1 insur$1         
gu>ante$1 or o!rwise assi/$ by ! ,/ate  

h\s+ f9ance ag5cy = ! ,/ate1 any o!r    
h\s+ ag5cy ( ! ,/ate1 or an eligible    
entity :5 applicable4  7#g7             
,reallocation ( ,/ate am\nts ,!         
,secret>y %all reallocate any grant     
funds "u ?is section allocat$ = a fiscal
 ye> t rema9 unus$ at ! end ( su* fiscal
 ye> among ,/ates & eligible entities t 
demon/rate to ! ,secret>y ! capacity to 
exp5d su* am\nts & t are satisfactorily 
meet+ ! goals ( ! program "u ?is        
section1 z det]m9$ by ! ,secret>y4  7#h7
 ,uni=mity & program /&>dization ,!     
,secret>y %all e/abli% a uni=m set (    
requirem5ts to :i* ea* ,/ate & eligible 
entity receiv+ grant am\nts "u ?is      
section %all comply4  7b7 ,qualifi$     
homebuy]s  7#a7 ,requirem5ts ,assi/ance 
f grant am\nts "u ?is section may be    
provid$ only on behalf ( a homebuy] :o  
meets all ( ! foll[+ requirem5ts3 7,a7  
,income ,! h\sehold ( ! homebuy] has an 
income t does n exce$-- 7i7 #abj p]c5t (
 m$ian income = ! area 7z det]m9$ by !  
,secret>y7 )9 :i*-- 7,i7 ! eligible home

 to be acquir$ us+ su* assi/ance is     
locat$2 or  7,,ii7 ! place ( resid5ce ( 
! homebuy] is locat$2 or  7ii7 9 ! case 
( a homebuy] acquir+ an eligible home t 
is locat$ 9 a high-co/ area z det]m9$ by
 ! ,secret>y1 #ahj p]c5t ( ! m$ian      
income = ! area )9 :i* ! eligible home  
to be acquir$ us+ su* assi/ance is      
locat$4  7,b7 ,fir/-"t homebuy] ,!      
homebuy]1 z self-atte/$ by ! homebuy]1  
is a fir/-"t homebuy]1 z su* t]m is     
def9$ 9 section #ib4b ( ! ,secret>y's   
regulations 7#bd ,c4,f4,r4 #ib4b71      
except t = purposes ( ?is p>agraph !    
ref]5ce 9 su* section #ib4b to !        
,am]ican ,dream ,d[npaym5t ,initiative  
%all be consid]$ to ref] to ! program "u
 ?is section4  7,c7 ,fir/-g5]ation      
homebuy] ,! homebuy] is1 z self-atte/$  
by ! homebuy]-- 7i7 an individual-- 7,i7
 ^: p>5ts or legal gu>dians d n h any   
pres5t resid5tial own]%ip int]e/ 9 any  
,/ate2 &  7,,ii7 ^: sp\se1 or dome/ic   
p>tn]1 & ea* memb] ( ^: h\sehold has n1 
dur+ ! #c-ye> p]iod end+ ^u acquisition 

( ! eligible home to be acquir$ us+ su* 
assi/ance1 _h any pres5t own]%ip int]e/ 
9 a pr9cipal resid5ce 9 any ,/ate2 or   
7ii7 an individual :o has at any "t be5 
plac$ 9 fo/] c>e4  7#b7 ,reliance on    
borr[] atte/ations ,no cr$itor %all be  
subject to liability1 includ+ monet>y   
p5alties or requirem5ts to indemnify a  
,f$]al ag5cy or repur*ase a loan t has  
be5 sold or securitiz$1 = ! provision ( 
d[npaym5t assi/ance "u ?is section to a 
borr[] :o does n meet ! eligibility     
requirem5ts if ! cr$itor does s 9 good  
fai? reliance on borr[] atte/ations (   
eligibility requir$ by ?is section or   
regulation4  7c7 ,eligible homes  7#a7  
,9 g5]al ,assi/ance f grant am\nts "u   
?is section may be provid$ only 9       
connection ) ! acquisition by a qualifi$
 homebuy] ( a resid5tial prop]ty t--    
7,a7 consi/s ( #a to #d dwell+ units2 & 
7,b7 w be occupi$ by ! qualifi$         
homebuy]1 9 accordance ) su* assurances 
& commitm5ts z ! ,secret>y %all require1
 z ! prim>y resid5ce ( ! homebuy]1      

subject to subsection 7b74  7#b7        
,repaym5t ( assi/ance  7,a7 ,requirem5t 
,! ,secret>y %all require t1 if a       
homebuy] on behalf ( :om assi/ance is   
provid$ f grant am\nts "u ?is section   
fails or ceases to occupy ! prop]ty     
acquir$ us+ su* assi/ance z ! prim>y    
resid5ce ( ! homebuy]1 except 9 ! case (
 assi/ance is provid$ 9 connection ) !  
pur*ase ( a prim>y resid5ce ?r\gh a %>$ 
equity home[n]%ip program1 ! homebuy]   
%all repay to ! ,secret>y-- 7i7 #ajj    
p]c5t ( ! am\nt ( su* assi/ance1 if su* 
failure to occupy comm5ces be=e !       
expiration ( ! #ab-mon? p]iod beg9n+ on 
! date ( acquisition2  7ii7 #hj p]c5t ( 
! am\nt ( su* assi/ance1 if su* failure 
to occupy comm5ces aft] ! expiration ( !
 #ab-mon? p]iod beg9n+ on su* date (    
acquisition b be=e ! expiration ( !     
#bd-mon? p]iod beg9n+ on su* date (     
acquisition2  7iii7 #fj p]c5t ( ! am\nt 
( su* assi/ance1 if su* failure to      
occupy comm5ces aft] ! expiration ( !   
#bd-mon? p]iod beg9n+ on su* date (     

acquisition b be=e ! expiration ( !     
#cf-mon? p]iod beg9n+ on su* date (     
acquisition2  7iv7 #dj p]c5t ( ! am\nt (
 su* assi/ance1 if su* failure to occupy
 comm5ces aft] ! expiration ( ! #cf-mon?
 p]iod beg9n+ on su* date ( acquisition 
b be=e ! expiration ( ! #dh-mon? p]iod  
beg9n+ on su* date ( acquisition2 &  7v7
 #bj p]c5t ( ! am\nt ( su* assi/ance1 if
 su* failure to occupy comm5ces aft] !  
expiration ( ! #dh-mon? p]iod beg9n+ on 
su* date ( acquisition b be=e !         
expiration ( ! #fj-mon? p]iod beg9n+ on 
su* date ( acquisition4  7,b7           
,limitation ,not)/&+ subp>agraph 7,a71  
if a homebuy] on behalf ( :om assi/ance 
is provid$ f grant am\nts "u ?is section
 exp]i5ces an un=ese5 h>d%ip1 su* z dea?
 or milit>y deploym5t1 or sells !       
prop]ty acquir$ ) su* assi/ance be=e !  
expiration ( ! #fj-mon? p]iod beg9n+ on 
su* date ( acquisition & ! capital ga9s 
f su* sale are less ?an ! am\nt !       
homebuy] is requir$ to repay ! ,secret>y
 "u subp>agraph 7,a71 ! homebuy] %all n 

be liable to ! ,secret>y = repaym5t ( ! 
am\nt ( su* %ortage4  7#c7 ,community l&
 tru/s & %>$ equity home[n]%ip programs 
,if assi/ance f grant am\nts "u ?is     
section are provid$ 9 connection ) an   
eligible home made available ?r\gh a    
community l& tru/ or %>$ equity         
home[n]%ip program1 su* assi/ance %all  
rema9 9 ! community l& tru/ or %>$      
equity prop]ty ^u transf] ( ! prop]ty to
 keep ! home af=dable to ! next eligible
 community l& tru/ or %>$ equity        
homebuy]4  7d7 ,eligible mortgage loans 
,assi/ance f grant am\nts "u ?is section
 may be provid$ only 9 connection ) !   
acquisition ( an eligible home involv+ a
 resid5tial mortgage loan t-- 7#a7 meets
 ! und]writ+ requirem5ts & doll> am\nt  
limitations = acquisition by ! ,f$]al   
,national ,mortgage ,association or !   
,f$]al ,home ,loan ,mortgage            
,corporation2  7#b7 is made1 insur$1 or 
gu>ante$ "u title ,,ii ( ! ,national    
,h\s+ ,act 7#ab ,u4,s4,c4 #agjg et seq47
 or title ,v ( ! ,h\s+ ,act ( #aidi 7#db

 ,u4,s4,c4 #adga et seq472  7#c7 is a   
qualifi$ mortgage1 z su* t]m is def9$ 9 
section #abi;,c7b77#b7 ( ! ,tru? 9 ,l5d+
 ,act 7#ae ,u4,s4,c4 #afci;c7b77#b772   
7#d7 is made1 insur$1 or gu>ante$ "u    
*apt] #cg ( title #ch1 ,unit$ ,/ates    
,code2 or  7#e7 is gu>ante$ "u section  
#ahd ( ! ,h\s+ & ,community ,developm5t 
,act ( #aiib 7#ab ,u4,s4,c4             
#agaez-#ac;a74  7e7 ,h\s+ c\nsel+       
requirem5t  7#a7 ,9 g5]al ,except z     
provid$ pursuant to subsection 7b71     
assi/ance ) grant am\nts "u ?is section 
may n be provid$ on behalf ( qualifi$   
homebuy] unless su* homebuy] has        
complet$ a program ( c\nsel+ ) respect  
to ! responsibilities & f9ancial        
managem5t involv$ 9 home[n]%ip be=e     
ent]+ into a sales pur*ase agreem5t or  
loan application1 except z provid$ "u   
p>agraph 7#c71 z ! ,secret>y %all       
require1 provid$ ?r\gh a c\nsel+ ag5cy  
approv$ by ! ,secret>y4 ,su* program may
 be deliv]$ virtually1 by telephone1 or 
any o!r me?od ! ,secret>y det]m9es      

acceptable & %all include provid+       
in=mation on fair h\s+ rights & on !    
availability ( po/-pur*ase h\s+ c\nsel+ 
opportunities & in/ruction on h[ to file
 a fair h\s+ compla9t4  7#b7 ,alt]native
 requirem5t ,! ,secret>y %all provide t 
if a qualifi$ homebuy] is unable to     
complete ! requirem5t "u p>agraph 7#a7  
)9 #cj days due to h\s+ c\nsel+ ag5cy   
capacity issues1 a ,/ate or eligible    
entity may all[ su* qualifi$ homebuy] to
 complete alt]native homebuy] education 
to fulfill ! requirem5t "u p>agraph     
7#a71 includ+ homebuy] education t is   
provid$ ?r\gh an onl9e plat=m1 & su*    
qualifi$ homebuy] %all be made aw>e ( ! 
availability ( po/-pur*ase h\s+ c\nsel+ 
opportunities4  7#c7 ,ref]ral ^u        
mortgage d5ial ,! ,secret>y %all require
 t any qualifi$ homebuy] :o has complet$
 a c\nsel+ program ref]r$ to 9 p>agraph 
7#a7 or alt]native requirem5t pursuant  
to p>agraph 7#b71 :o receives a         
commitm5t = assi/ance ) grant am\nts "u 
?is section & :o applies = an eligible  

mortgage loan = acquisition ( an        
eligible home & is d5i$ su* mortgage    
loan1 %all be ref]r$ to a c\nsel+ ag5cy 
describ$ 9 p>agraph 7#a7 = c\nsel+      
relat+ to su* d5ial & =                 
re-qualification4 ,an eligible homebuy] 
may be re-qualifi$ at lea/ "o additional
 "t 9 a cal5d> ye>1 or m z det]m9$ by ! 
,secret>y4  7#d7 ,fund+ ,( any am\nts   
appropriat$ to c>ry out ?is section1 !  
,secret>y %all use n less ?an #e p]c5t =
 co/s ( provid+ c\nsel+ ref]r$ to 9     
p>agraph 7#a74  7f7 ,adm9i/rative co/s  
,( any grant am\nts "u ?is section      
receiv$ by a ,/ate or eligible entity1 !
 ,/ate or eligible entity may use n m   
?an #e p]c5t = adm9i/rative co/s ( &    
tra9+ = c>ry+ out ! program ( ! ,/ate or
 eligible entity to provide assi/ance ) 
su* grant am\nts4  7g7 ,reports  7#a7 ,9
 g5]al ,= ea* fiscal ye> dur+ :i* !     
,secret>y makes grants "u ?is section1 !
 ,secret>y %all submit to ! ,congress1 &
 make publicly available onl9e 9 an     
easily accessible location on ! website 

( ! ,dep>tm5t1 a report t %all include--
 7,a7 demographic in=mation reg>d+      
applicants = & recipi5ts ( assi/ance    
provid$ pursuant to ?is section1 includ+
 race1 e?nicity1 & g5d]2  7,b7 in=mation
 reg>d+ ! types & am\nt ( assi/ance     
provid$1 includ+ d[npaym5t assi/ance1   
assi/ance ) clos+ co/s1 & assi/ance to  
r$uce mortgage loan int]e/ rates2  7,c7 
in=mation reg>d+ prop]ties acquir$ us+  
su* assi/ance1 includ+ location1 prop]ty
 value1 prop]ty type1 & fir/ mortgage   
type & inve/or4  ,all data %all be      
disaggregat$ by zip code or c5sus tract 
level1 :i*ev] is mo/ feasible1 &        
demographic in=mation1 includ+ race1    
e?nicity1 & g5d]1 & any o!r data po9ts !
 ,secret>y deems appropriate especially 
to obs]ve equitable outcomes to ensure !
 program is affirmatively fur!r+ fair   
h\s+4  7#b7 ,capacity build+ ,( any     
am\nts appropriat$ to c>ry out ?is      
section1 ! ,secret>y %all use n m ?an #a
 p]c5t to assi/ ,/ates & eligible       
entities to develop capacity to meet !  

report+ requirem5ts "u p>agraph 7#a74 ,!
 ,secret>y %all enc\rage ,/ates &       
eligible entities to consult )          
community-bas$ & nonpr(it organizations 
t h z _! mission to advance fair h\s+ & 
fair l5d+4  7#c7 ,privacy requirem5ts   
7,a7 ,9 g5]al ,ea* ,/ate & eligible     
entity t receives a grant "u ?is section
 %all e/abli% data privacy & security   
requirem5ts = ! in=mation describ$ 9    
p>agraph 7#a7 t-- 7i7 include           
appropriate measures to ensure t !      
privacy ( ! individuals & h\seholds is  
protect$2  7ii7 provide t ! in=mation1  
includ+ any p]sonally id5tifiable       
in=mation1 is collect$ & us$ only = !   
purpose ( submitt+ reports "u p>agraph  
7#a72 &  7iii7 provide confid5tiality   
protections = data collect$ ab\t any    
individuals :o are survivors ( intimate 
p>tn] viol5ce1 sexual assault1 or /alk+4
  7,b7 ,/ati/ical rese>*  7i7 ,9 g5]al  
,! ,secret>y-- 7,i7 may provide full &  
unredact$ in=mation provid$ "u p>agraph 
7#a71 includ+ p]sonally id5tifiable     

in=mation1 = /ati/ical rese>* purposes 9
 accordance ) exi/+ law2 &  7,,ii7 may  
collect & make available = /ati/ical    
rese>*1 at ! c5sus tract level1         
in=mation collect$ "u subp>agraph 7,a74 
7ii7 ,application ( privacy requirem5ts 
,a recipi5t ( in=mation "u clause 7i7   
%all e/abli% = su* in=mation ! data     
privacy & security requirem5ts describ$ 
9 subp>agraph 7,a74  7h7 ,compell+      
int]e/ /udy ,! ,secret>y & ! ,attorney  
,g5]al %all survey & compile evid5ce to 
det]m9e :e!r or n !re is a suffici5t    
hi/ory ( discrim9ation 9 h\s+ & !       
appropriate rem$y to r$ress su* hi/oric 
discrim9ation4 ,! ,secret>y %all make   
conclusions & recomm5dations bas$ on !  
evid5ce & provide ,/ates & eligible     
entities grant$ aw>ds "u ?is section an 
opportunity to modify _! programs =     
assi/ance "u ?is section accord+ to su* 
recomm5dations4  7i7 ,def9itions ,=     
purposes ( ?is section1 ! foll[+        
def9itions %all apply3 7#a7             
,affirmatively fur!r fair h\s+ ,! t]m   

affirmatively fur!r fair h\s+ has ! same
 mean+ z def9$ by ! ,secret>y to        
implem5t section #hjh7;e77#e7 ( ! ,fair 
,h\s+ ,act 7#db ,u4,s4,c4               
#cfjh7;e77#e774  7#b7 ,community l& tru/
 ,! t]m community l& tru/ means a       
nonpr(it organization or ,/ate or local 
gov]nm5ts or in/rum5talities t-- 7,a7   
use a gr\nd lease or de$ cov5ant ) an   
af=dability p]iod ( at lea/ #cj ye>s or 
m to-- 7i7 make home[n]%ip units        
af=dable to h\seholds2 &  7ii7 /ipulate 
a preemptive option to pur*ase !        
af=dable home[n]%ip units s t !         
af=dability ( ! units is pres]v$ =      
successive income-eligible h\seholds2 & 
7,b7 monitor prop]ties to ensure        
af=dability is pres]v$4  7#c7 ,eligible 
entity ,! t]m eligible entity means--   
7,a7 a m9ority depository in/itution1 z 
su* t]m is def9$ 9 section #cjh ( !     
,f9ancial ,in/itutions ,re=m1 ,recov]y1 
& ,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4 
#adfc note72  7,b7 a community          
developm5t f9ancial in/itution1 z su*   

t]m is def9$ 9 section #ajc ( ! ,riegle 
,community ,developm5t & ,regulatory    
,improvem5t ,act ( #aiid 7#ab ,u4,s4,c4 
#dgjb71 t is c]tifi$ by ! ,secret>y ( ! 
,treasury & t>gets s]vices to m9ority & 
l[-income populations & provides s]vices
 9 neighborhoods hav+ high conc5trations
 ( m9ority & l[-income populations2 &   
7,c7 any o!r nonpr(it1 mission-driv5    
entity t ! ,secret>y f9ds t>gets s]vices
 to m9ority & l[-income populations &   
provides s]vices 9 neighborhoods hav+   
high conc5trations ( m9ority & l[-income
 populations4  7#d7 ,eligible home ,!   
t]m eligible home means a resid5tial    
dwell+1 includ+ a unit 9 a condom9ium or
 coop]ative project or a manufactur$    
h\s+ unit1 t meets ! requirem5ts (      
subsection 7c74  7#e7 ,eligible mortgage
 loan ,! t]m eligible mortgage loan     
means a resid5tial mortgage loan t meets
 ! requirem5ts ( subsection 7d74  7#f7  
,qualifi$ homebuy] ,! t]m qualifi$      
homebuy] means a homebuy] :o meets !    
requirem5ts ( subsection 7b71 & includes

 homebuy]s consi/+ ( multiple           
individuals1 co-pur*as]s1 & multi-memb] 
h\seholds4  7#g7 ,secret>y ,! t]m       
,secret>y means ! ,secret>y ( ,h\s+ &   
,urban ,developm5t4  7#h7 ,%>$ equity   
home[n]%ip program  7,a7 ,9 g5]al ,! t]m
 %>$ equity home[n]%ip program means    
af=dable home[n]%ip pres]vation ?r\gh a 
resale re/riction program adm9i/]$ by a 
community l& tru/1 o!r nonpr(it         
organization1 or ,/ate or local gov]nm5t
 or in/rum5talities4  7,b7 ,af=dability 
requirem5ts ,any su* program "u         
subp>agraph 7,a7 %all-- 7i7 provide     
af=dable home[n]%ip opportunities to    
h\seholds2 &  7ii7 utilize a gr\nd      
lease1 de$ re/riction1 subord9ate loan1 
or simil> legal me*anism t includes     
provisions ensur+ t ! program %all--    
7,i7 ma9ta9 ! home[n]%ip unit z af=dable
 = subsequ5t v l[-1 l[-1 or             
mod]ate-income families = an af=dability
 t]m ( at lea/ #cj ye>s aft]            
recordation2  7,,ii7 apply a resale     
=mula t limits ! home[n]'s proce$s ^u   

resale2 &  7,,iii7 provide ! program    
adm9i/rator or su* adm9i/rator's        
assignee a preemptive option to pur*ase 
! home[n]%ip unit f ! home[n] at resale4
  7#i7 ,socially & economically         
disadvantag$ individual ,! t]m socially 
& economically disadvantag$ individual  
means an individual :o meets ! foll[+   
requirem5ts3 7,a7 ,social disadvantage  
7i7 ,9 g5]al ,! individual is a memb] ( 
a socially disadvantag$ gr\p1 ^: memb]s 
h hi/orically be5 subject$ to racial or 
e?nic discrim9ation )9 ! ,unit$ ,/ates  
because ( _! id5tity z memb]s ( su* gr\p
 )\t reg>d to _! individual qualities4  
7ii7 ,presumption2 rebuttal ,an         
individual id5tify+ z ,black1 ,hispanic1
 ,native ,am]ican1 or ,asian ,am]ican1  
or any comb9ation !re(1 %all be presum$ 
to be socially disadvantag$ = purposes (
 clause 7i74 ,su* presumption may be    
rebutt$ by su* individual ) cr$ible     
evid5ce to ! contr>y4  7iii7 ,burd5 (   
pro( ,an individual :o does n id5tify z 
describ$ 9 clause 7ii7 %all be requir$  

to e/abli% individual social            
disadvantage = purposes ( clause 7i7 by 
a prepond]ance ( ! evid5ce4  7iv7 ,rules
 ,! ,secret>y may issue regulations z   
necess>y to e/abli% proc$ures = comply+ 
) ?is subp>agraph4  7,b7 ,economic      
disadvantage ,! individual has an income
 t meets ! requirem5ts "u subsection    
7b77#a74  7#aj7 ,/ate ,! t]m ,/ate means
 any ,/ate ( ! ,unit$ ,/ates1 ! ,di/rict
 ( ,columbia1 ! ,commonweal? ( ,pu]to   
,rico1 ! ,unit$ ,/ates ,virg9 ,isl&s1   
,guam1 ! ,commonweal? ( ! ,nor!rn       
,m>iana ,isl&s1 ,am]ican ,samoa1 & !    
tribal gov]nm5t ( any ,indian tribe1 z  
su* t]m is def9$ 9 section #d ( !       
,native ,am]ican ,h\s+ ,assi/ance &     
,self-,det]m9ation ,act ( #aiif 7#be    
,u4,s4,c4 #dajc74  7j7 ,regulations ,!  
,secret>y %all issue any regulations    
necess>y to implem5t ?is section4  7k7  
,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$ = grants "u  
?is section #aj1jjj1jjj1jjj1 & any      
am\nts appropriat$ pursuant to ?is      

section %all rema9 available until      
exp5d$4  #ejb4 ,,fha-insur$ small doll> 
mortgage demon/ration program  7a7      
,au?ority ,! ,secret>y ( ,h\s+ & ,urban 
,developm5t %all c>ry out a demon/ration
 program to make available ,,fha        
mortgage insurance to enc\rage l5d]s to 
orig9ate small-doll> resid5tial mortgage
 loans hav+ an orig9al pr9cipal balance 
( #ajj1jjj or less4  7b7 ,t]ms2 tim+ ,! 
,secret>y %all e/abli% ! t]ms &         
requirem5ts ( ! demon/ration program "u 
?is section n lat] ?an ! expiration ( ! 
#ab-mon? p]iod beg9n+ on ! date ( !     
enactm5t ( ?is ,act & %all beg9 process+
 applications f l5d]s = mortgage        
insurance "u ! demon/ration program n   
lat] ?an ! expiration ( ! #ah-mon? p]iod
 beg9n+ on su* date ( enactm5t4  7c7    
,limitation ,! aggregate orig9al        
pr9cipal am\nt ( mortgages insur$ "u !  
demon/ration program "u ?is section may 
n exce$ #dej1jjj4jjj4  7d7 ,au?orization
 ( appropriations ,!re is au?oriz$ to be
 appropriat$ #aj1jjj1jjj = co/s 7z su*  

t]m is def9$ 9 section #ejb ( !         
,congressional ,budget ,act ( #aigd 7#b 
,u4,s4,c4 #ffa;a77 ( ! demon/ration     
program "u ?is section4  ,,vi ,equity & 
,,hud capacity-build+  #fja4 ,fair h\s+ 
en=cem5t  7a7 ,fair ,h\s+ ,initiatives  
,program ,!re is au?oriz$ to be         
appropriat$ = ! ,fair ,h\s+ ,initiatives
 ,program "u section #efa ( ! ,h\s+ &   
,community ,developm5t ,act ( #aihg 7#db
 ,u4,s4,c4 #cfaf;a7 #b1ejj1jjj1jjj1 to  
rema9 available until exp5d$1 to ensure 
exi/+ & newly creat$ fair h\s+          
organizations h exp&$ & /r5g!n$ capacity
 to address fair h\s+ inquiries &       
compla9ts2 conduct local1 regional1 &   
national te/+ & inve/igations2 conduct  
education & outrea* activities2 & to    
address co/s ( deliv]+ or adapt+ s]vices
 9 ! wake ( increas$ h\s+ m>ket activity
 & evolv+ bus9ess practices 9 ! h\s+ &  
l5d+ m>kets4  7b7 ,fair ,h\s+ ,assi/ance
 ,program ,!re is au?oriz$ to be        
appropriat$ = ! ,fair ,h\s+ ,assi/ance  
,program "u ! ,fair ,h\s+ ,act 7#db     

,u4,s4,c4 #cfja et seq47 #b1ejj1jjj1jjj1
 to rema9 available until exp5d$4  #fjb4
 ,fair & equitable h\s+ developm5t      
requirem5ts  7a7 ,9 g5]al ,! ,secret>y (
 ,h\s+ & ,urban ,developm5t1 ! ,secret>y
 ( ,agriculture1 ! ,adm9i/rator ( !     
,f$]al ,em]g5cy ,managem5t ,ag5cy1 & !  
,secret>y ( ! ,treasury %all require1 z 
"p ( application = a grant or fund+ made
 available pursuant to title ,i1 ,,ii1  
,,iii1 or ,v ( ?is ,act-- 7#a7 7,a7     
c]tification ( consultation ) a qualifi$
 fair h\s+ en=cem5t organization1 z su* 
t]m is def9$ 9 section #efa ( ! ,h\s+ & 
,community ,developm5t ,act ( #aihg 7#db
 ,u4,s4,c4 #cfaf;a72 or  7,b7 :]e !re is
 no qualifi$ fair h\s+ en=cem5t         
organization t cov]s ! relevant s]vice  
area-- 7i7 a lett] ( support f a local  
gov]nm5t (fice t has z its mission to   
advance fair h\s+ laws &                
anti-discrim9ation pr9ciples2 or  7ii7  
:]e !re is no local gov]nm5t (fice t has
 z its mission to advance fair h\s+ laws
 & anti-discrim9ation pr9ciples1 a lett]

 ( support f a ,fair ,h\s+ ,assi/ance   
,program ag5cy1 z su* t]m is us$ 9      
subp>t ,c ( title #bd1 ,code ( ,f$]al   
,regulations2 &  7#b7 a description (   
consultations made 9 accordance )       
p>agraph 7#a7 t includes ! "n ( ! entity
 consult$1 a description ( ! nature ( ! 
consultation1 id5tification ( any       
conc]ns rais$ dur+ ! consultation1 & an 
explanation ( any *anges made z a result
 ( ! consultation4  7b7 ,affirmatively  
fur!r+ fair h\s+ ,recipi5ts ( a grant or
 fund+ made available pursuant to funds 
"u ?is ,act %all be 9 compliance ) !    
,secret>y's regulations implem5t+ !     
requirem5t "u section #hjh7;e77#e7 ( !  
,fair ,h\s+ ,act 7#db ,u4,s4,c4         
#cfjh7;e77#e77 to affirmatively fur!r   
fair h\s+4  7c7 ,fund+ ,( any am\nts    
available pursuant to ?is ,act =        
adm9i/rative & plann+ co/s = grants "u  
?is ,act1 n m ?an #j4e p]c5t may be us$ 
to provide = consultations requir$ "u   
?is section4  #fjc4 ,inclusion ( m9ority
 & wom5's bus9ess ent]prises  7a7 ,duty 

,x %all be ! duty ( ea* relevant ag5cy  
head-- 7#a7 to consult & coop]ate )     
grantees & recipi5ts1 :5 utiliz+ funds  
made available pursuant to ?is ,act1 to 
promote ! inclusion ( m9ority & wom5's  
bus9ess ent]prises1 z def9$ 9 subsection
 7b71 includ+ to e/abli%-- 7,a7 special 
consid]ation to increas+ grantee &      
recipi5t outrea* to m9ority & wom5's    
bus9ess ent]prises to in=m su* bus9esses
 ( hir+ opportunities creat$ ?r\gh su*  
funds2 &  7,b7 procurem5t goals = !     
utilization ( m9ority & wom5's bus9ess  
ent]prises2 &  7#b7 to conv5e meet+s )  
lead]s & (ficials ( ,/ate & local       
gov]nm5ts1 tribal entities1 & public    
h\s+ au?orities = ! purpose ( recomm5d+ 
& promot+ fund+ opportunities &         
initiatives ne$$ to advance ! position (
 m9ority & wom5's bus9ess ent]prises :5 
compet+ = funds made available pursuant 
to ?is ,act4  7b7 ,def9itions ,= !      
purposes ( ?is section1 ! foll[+        
def9itions %all apply3 7#a7 ,m9ority ,! 
t]m m9ority has ! mean+ giv5 su* t]m 9  

section #cjh7;b7 ( ! ,f9ancial          
,in/itutions ,re=m1 ,recov]y1 &         
,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4   
#adfc note7 & also includes any indig5\s
 p]son 9 ! ,unit$ ,/ates or its         
t]ritories4  7#b7 ,m9ority & wom5's     
bus9ess ent]prise ,! t]m m9ority &      
wom5's bus9ess ent]prise means a bus9ess
 at lea/ #ea-p]c5t own$ & controll$ by  
m9ority gr\p memb]s or wom54  7#c7      
,relevant ag5cy head ,! t]m relevant    
ag5cy head means1 ) respect to funds    
made available pursuant to any section (
 ?is ,act1 ! head ( ! ,f$]al ag5cy      
responsible = adm9i/]+ ! program "u :i* 
su* funds are to be exp5d$4  #fjd4      
,promot+ h\s+ accessibility &           
visitability  7a7 ,accessibility        
requirem5t ,! ,secret>y ( ,h\s+ & ,urban
 ,developm5t %all issue a rule am5d+    
sections #h4bb & #h4bc ( title #bd1     
,code ( ,f$]al ,regulations to require  
t-- 7#a7 n less ?an #aj p]c5t ( total   
dwell+ units or "o dwell+ unit1 :i*ev]  
is great]1 9 ea* multifamily h\s+       

project %all be accessible = p]sons )   
mobility impairm5ts2 &  7#b7 9 addition 
to ! units meet+ ! requirem5ts (        
p>agraph 7#a71 n less ?an #e p]c5t (    
total dwell+ units or "o dwell+ unit1   
:i*ev] is great]1 9 ea* multifamily h\s+
 project %all be %all be accessible =   
p]sons ) he>+ or vision impairm5ts4  7b7
 ,visitability requirem5t  7#a7         
,requirem5t ,x %all be unlawful = any   
p]son or entity1 ) respect to a cov]$   
dwell+ unit design$1 con/ruct$1 or      
commission$1 contract$1 or o!rwise      
arrang$ = con/ruction1 by ! p]son or    
entity1 to fail to ensure t ! dwell+    
unit conta9s n less ?an #a level t      
complies ) ! ,/&>ds = ,type ,c          
7,visitable7 ,units ( ! ,am]ican        
,national ,/&>ds ,in/itute 7commonly    
kn[n z ,,ansi7 ,/&>ds = ,accessible &   
,usable ,build+s & ,facilities 7section 
#ajje ( ,,icc ,,ansi ,a#aag4a-bjji7 or  
any successor /&>d4  7#b7 ,def9itions ,z
 us$ 9 ?is subsection3 7,a7 ,cov]$      
dwell+ unit ,! t]m cov]$ dwell+ unit    

means a dwell+ unit t-- 7i7 is-- 7,i7 a 
deta*$ s+le-family h\se2  7,,ii7 a      
t[nh\se or multi-level dwell+ unit 7:e!r
 deta*$ or atta*$ to o!r units or       
/ructures72 or  7,,iii7 a gr\nd-floor   
unit 9 a build+ ( n m ?an #c dwell+     
units2  7ii7 is design$ z1 or int5d$ =  
occupancy z1 a resid5ce2  7iii7 0       
design$1 con/ruct$1 or commission$1     
contract$1 or o!rwise arrang$ =         
con/ruction1 by any p]son or entity t1  
at any "t be=e ! design or con/ruction1 
receiv$ or 0 gu>ante$ ,f$]al f9ancial   
assi/ance = any program or activity     
relat+ to ! design1 con/ruction1 or     
commission+1 contract+1 or o!r          
arrangem5t = con/ruction1 ( ! dwell+    
unit2 &  7iv7 is made available = fir/  
occupancy on or aft] ! date t is #a ye> 
aft] ! date ( enactm5t ( ?is ,act4  7,b7
 ,f$]al f9ancial assi/ance ,! t]m ,f$]al
 f9ancial assi/ance means-- 7i7 any     
assi/ance t is provid$ or o!rwise made  
available by ! ,secret>y ( ,h\s+ &      
,urban ,developm5t or ! ,secret>y (     

,vet]ans ,affairs1 or "u any program or 
activity ( ! ,dep>tm5t ( ,h\s+ & ,urban 
,developm5t or ! ,dep>tm5t ( ,vet]ans   
,affairs1 ?r\gh any grant1 loan1        
contract1 or any o!r arrangem5t1 on or  
aft] ! date t is #a ye> aft] ! date (   
enactm5t ( ?is ,act1 includ+-- 7,i7 a   
grant1 a subsidy1 or any o!r funds2     
7,,ii7 s]vice provid$ by a ,f$]al       
employee2  7,,iii7 real or p]sonal      
prop]ty or any int]e/ 9 or use ( su*    
prop]ty1 includ+-- 7aa7 a transf] or    
lease ( ! prop]ty = less ?an ! fair     
m>ket value or = r$uc$ consid]ation2 &  
7bb7 proce$s f a subsequ5t transf] or   
lease ( ! prop]ty if ! ,f$]al %>e ( !   
fair m>ket value is n return$ to !      
,f$]al ,gov]nm5t2  7,,iv7 any-- 7aa7 tax
 cr$it2 or  7bb7 mortgage or loan       
gu>antee or insurance2 &  7,v7 community
 developm5t funds 9 ! =m ( an obligation
 gu>ante$ "u section #ajh ( ! ,h\s+ &   
,community ,developm5t ,act ( #aigd 7#db
 ,u4,s4,c4 #ecjh72 &  7ii7 any assi/ance
 t is provid$ or o!rwise made available 

by ! ,secret>y ( ,agriculture "u title  
,v ( ! ,h\s+ ,act ( #aidi 7#db ,u4,s4,c4
 #adga et seq474  #fje4 ,reports on     
outcomes  7a7 ,9 g5]al ,! ,secret>y (   
,h\s+ & ,urban ,developm5t1 9           
coord9ation ) ! ,secret>y ( ! ,treasury1
 ! ,adm9i/rator ( ! ,f$]al ,em]g5cy     
,managem5t ,ag5cy1 & ! ,secret>y (      
,agriculture1 %all submit a report to ! 
,congress on an annual basis until all  
funds made available pursuant to ?is    
,act are exp5d$1 t provides a summ>y (  
outcomes = ea* program = :i* su* funds 7
 made available1 disaggregat$ at ! c5sus
 tract level or block gr\p level1 :5    
available1 t %all include1 to ! maximum 
ext5t possible1 id5tification = ! prec$+
 ye> (-- 7#a7 ! total numb] ( h\s+ units
 produc$1 rehabilitat$1 or mitigat$ us+ 
su* funds2  7#b7 ! p]c5tage ( su* h\s+  
units t are af=dable to l[-1 to v l[-1 &
 to extremely l[-income h\seholds2  7#c7
 ! numb] ( su* h\s+ units t are locat$ 9
 high-pov]ty c5sus tracts2  7#d7 ! numb]
 ( su* h\s+ units t are locat$ 9        

l[-pov]ty c5sus tracts2  7#e7 ! numb] ( 
su* h\s+ units locat$ 9 areas :]e !     
p]c5tage ( h\seholds 9 a racial or e?nic
 m9ority gr\p-- 7,a7 is at lea/ #bj     
p]c5tage po9ts high] ?an ! p]c5tage ( t 
m9ority gr\p = ! ,metropolitan          
,/ati/ical ,area2  7,b7 is at lea/ #bj  
p]c5tage po9ts high] ?an ! p]c5tage (   
all m9orities = ! ,metropolitan         
,/ati/ical ,area2 or  7,c7 exce$s #ej   
p]c5t ( ! population2  7#f7 ! numb] (   
su* h\s+ units ) ?ree or m b$rooms2     
7#g7 ! numb] ( su* h\s+ units locat$ 9  
qualifi$ opportunity zones designat$    
pursuant to section #adjj,z-#a ( !      
,int]nal ,rev5ue ,code ( #aihf2  7#h7 ! 
numb] ( su* h\s+ units t are 9          
compliance ) ! design & con/ruction     
requirem5ts ( ! ,dep>tm5t ( ,h\s+ &     
,urban ,developm5t "u section #ajj4bje (
 title #bd1 ,code ( ,f$]al ,regulations2
 &  7#i7 any o!r in=mation t ! ,secret>y
 ( ,h\s+ & ,urban ,developm5t consid]s  
appropriate to illu/rate ! numb] ( h\s+ 
units made available & accessible to    

protect$ classes "u ! ,fair ,h\s+ ,act  
7#db ,u4,s4,c4 #cfja et seq471          
disaggregat$ by protect$ class4  7b7    
,fund+ ,( any am\nts available pursuant 
to ?is ,act = adm9i/rative & plann+ co/s
 = grants "u ?is title1 n m ?an #j4e    
p]c5t may be us$ to provide =           
consultations requir$ "u ?is section4 ,!
 ,secret>y %all enc\rage recipi5ts (    
funds "u ?is ,act to consult )          
community-bas$ & nonpr(it organizations 
t h z _! mission to advance fair h\s+ & 
fair l5d+ to meet ! requirem5ts "u ?is  
section4  #fjf4 ,,hud sal>ies & exp5ses 
,!re is au?oriz$ to be appropriat$      
#e1jjj1jjj1jjj = sal>ies & exp5ses ( !  
,dep>tm5t ( ,h\s+ & ,urban ,developm5t =
 co/s ( c>ry+ out ?is ,act4