H.R. 7327 — Introduced in House

I 117th CONGRESS 2d Session H. R. 7327 IN THE HOUSE OF REPRESENTATIVES March 31, 2022Mr. Hill introduced the following bill; which was referred to the Committee on Financial Services A BILL To encourage the timely use of funds provided under the emergency rental assistance programs administered by the Secretary of the Treasury, and for other purposes. 1. Short title This Act may be cited as the Protecting Rural Renters Act of 2022. 2. Reallocation of certain unused funds (a) Consolidated appropriations Act funds Section 501(d) of subtitle A of title V of division N of the Consolidated Appropriations Act, 2021 (15 U.S.C. 9058a(d)) is amended— (1) by inserting other than a grantee described in subsection (b)(1)(B)(i) after by a grantee; and (2) by adding at the end the following new sentence: The Secretary shall require that any amount of funds reallocated pursuant to this subsection from a grantee described in subsection (b)(1)(B)(i) to another eligible grantee after September 30, 2021, but that remain unobligated by such other eligible grantee as of the date of enactment of this sentence, shall be returned to the original grantee described in subsection (b)(1)(B)(i) promptly upon such date of enactment.. (b) ARPA funds Section 3201(e) of the American Rescue Plan Act of 2021 (15 U.S.C. 9058c(e)) is amended— (1) in paragraph (1), by inserting other than grantees described in subsection (f)(1)(A) after eligible grantees; and (2) by adding at the end the following new paragraph: (5) Return of certain reallocated funds The Secretary shall require that any amount of funds reallocated pursuant to this subsection from a grantee described in subsection (f)(1)(A) to another eligible grantee after March 31, 2022, but that remain unobligated by such other eligible grantee as of the date of enactment of this paragraph, shall be returned to the original grantee described in subsection (f)(1)(A) promptly upon such date of enactment. .