,i #aag? ,,congress #b;d ,session ,h4 ,r4 #ghfh ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,may #bd1 #bjbb,mr4 ,ku/(f 7= himself & ,mr4 ,hill7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,a ,,bill ,to mod]nize ! =mulas = allocation ( ,community ,developm5t ,block ,grant ,program grants = entitlem5t communities to m effectively t>get su* am\nts = community developm5t ne$s1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,,cdbg ,mod]nization ,act ( #bjbb4 #b4 ,initial /udy & report 7a7 ,/udy ,n lat] ?an ! expiration ( ! #ab-mon? p]iod beg9n+ on ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ,h\s+ & ,urban ,developm5t 79 ?is ,act ref]r$ to z ! ,secret>y7 %all conduct a /udy to-- 7#a7 analyze & assess ! effectiv5ess ( ! =mulas "u p>agraphs 7#a7 ?r\gh 7#c7 ( section #ajf7;b7 ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecjf7;b77 ,act1 & ! factors us$ 9 su* =mulas1 includ+ ! use ( ! age ( h\s+ factor 7z su* t]m is def9$ 9 section #ajb7;a7 ( su* ,act 7#db ,u4,s4,c4 #ecjb7;a7771 9 effectively t>get+ fund+ "u ! ,community ,developm5t ,block ,grant ,program 79 ?is ,act ref]r$ to z ! ,program7 = community developm5t ne$s & 9 c>ry+ out ! purposes ( su* program "u section #aja ( su* ,act 7#db ,u4,s4,c4 #ecja72 & 7#b7 develop revis$ & updat$ =mulas = use "u p>agraphs 7#a7 ?r\gh 7#c7 ( su* section #ajf7;b71 or updat$ factors = use 9 su* =mulas1 t-- 7,a7 m effectively t>get fund+ "u ! ,community ,developm5t ,block ,grant ,program = community developm5t ne$s2 7,b7 elim9ate any fund+ inequities t use ( su* age ( h\s+ factor has contribut$ to "u ! ,program2 7,c7 include an elem5t t provides = re-evaluation to ma9ta9 effective t>get+ = community developm5t ne$s ( grantees ov] "t & adju/s fund+ 9 accordance ) su* *ang+ ne$s2 & 7,d7 m effectively c>ry out ! purposes ( ! ,program "u section #aja ( su* ,act4 7b7 ,report ,n lat] ?an ! expiration ( ! p]iod ref]r$ to 9 subsection 7a7 ( ?is section1 ! ,secret>y %all submit a report to ! ,congress t-- 7#a7 describes ! /udy conduct$ pursuant to subsection 7a7 & sets =? any f9d+s & conclusions ( su* /udy2 7#b7 sets =? ! revis$ & updat$ =mulas or factors develop$ pursuant to subsection 7a77#b7 & to be us$ "u section #ajf7;b7 ( su* ,act1 z am5d$ by section #c ( ?is ,act2 7#c7 specifies h[ su* revis$ & updat$ =mulas or factors %all be c\nt$ = purposes ( section #ajf7;b77#c7 ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd2 7#d7 id5tifies h[ ! use ( ! age ( h\s+ factor has contribut$ to inequities 9 effectively t>get+ fund+ "u ! ,program to community developm5t ne$s ( grantees2 & 7#e7 comp>es ! effects ( us+ su* revis$ & updat$ =mulas or factors to ! effects ( apply+ p>agraphs 7#a77;,b7 & 7#b77;,b7 ( section #ajf7;b7 ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd1 z 9 effect on ! date ( ! enactm5t ( ?is ,act1 to det]m9e :i* grantees are ov]-subsidiz$ or "u-subsidiz$ ) respect to community developm5t ne$s4 #c4 ,subsequ5t /udies & reports 7a7 ,subsequ5t /udies ,n lat] ?an ! expiration ( ea* successive #aj-ye> p]iod aft] ! expiration ( ! p]iod ref]r$ to 9 section #b7;a71 ! ,secret>y %all conduct a /udy to-- 7#a7 analyze & assess ! effectiv5ess ( ! revis$ & updat$ =mulas or factors set =? pursuant to section #b7;b77#b7 ( ?is ,act 9 effectively t>get+ fund+ "u ! ,community ,developm5t ,block ,grant ,program 79 ?is ,act ref]r$ to z ! ,program7 = community developm5t ne$s & 9 c>ry+ out ! purposes ( su* program "u section #aja ( su* ,act 7#db ,u4,s4,c4 #ecja72 & 7#b7 develop recomm5dations reg>d+ revisions & updates to su* =mulas & factors t-- 7,a7 m effectively t>get fund+ "u ! ,community ,developm5t ,block ,grant ,program = community developm5t ne$s2 7,b7 include an elem5t t provides = re-evaluation to ma9ta9 effective t>get+ = community developm5t ne$s ( grantees ov] "t & adju/s fund+ 9 accordance ) su* *ang+ ne$s2 & 7,c7 m effectively c>ry out ! purposes ( ! ,program "u section #aja ( su* ,act4 7b7 ,reports ,n lat] ?an ! expiration ( ea* applicable #aj-ye> p]iod ref]r$ to 9 subsection 7a7 ( ?is section1 ! ,secret>y %all submit a report to ! ,congress t-- 7#a7 describes ! /udy conduct$ pursuant to subsection 7a7 = su* p]iod & sets =? any f9d+s & conclusions ( su* /udy2 7#b7 sets =? ! recomm5d$ revisions & updates develop$ pursuant to subsection 7a77#b72 7#c7 specifies h[ su* recomm5d$ revisions & updates %\ld be c\nt$ = purposes ( section #ajf7;b77#c7 ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd2 & 7#d7 comp>es ! effects ( us+ su* recomm5d$ revisions & updates to ! effects ( apply+ p>agraphs 7#a77;,b7 & 7#b77;,b7 ( section #ajf7;b7 ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd1 z !n 9 effect1 to det]m9e :i* grantees are ov]-subsidiz$ or "u-subsidiz$ ) respect to community developm5t ne$s4 #d4 ,applicability ( new =mulas or factors 7a7 ,am5dm5t to #aigd ,act ,subsection 7b7 ( section #ajf ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecjf7;b77 is am5d$ by /rik+ ! subsection designation & all t foll[s ?r\gh ! end ( p>agraph 7#c7 & ins]t+ ! foll[+3 7b7 7#a7 ,! ,secret>y %all det]m9e ! am\nt to be allocat$ to ea* metropolitan city 9 accordance ) ! revis$ & updat$ =mulas or factors set =? pursuant to section #b7;b77#b7 ( ! ,,cdbg ,mod]nization ,act ( #bjbb 9 ! report pursuant to su* section #b7;b74 7#b7 ,! ,secret>y %all det]m9e ! am\nt to be allocat$ to ea* urban c\nty 9 accordance ) ! revis$ & updat$ =mulas or factors set =? pursuant to section #b7;b77#b7 ( ! ,,cdbg ,mod]nization ,act ( #bjbb 9 ! report pursuant to su* section #b7;b74 7#c7 ,9 det]m9+ ! am\nt to be allocat$ ea* metropolitan city & urban c\nty1 ! ,secret>y %all c\nt ea* revis$ & updat$ =mula or factor z provid$ 9 ! report pursuant to section #b7;b7 ( ! ,,cdbg ,mod]nization ,act ( #bjbb4 4 7b7 ,phase-,9 ,not)/&+ any o!r provision ( law1 ! ,secret>y %all adju/ any allocations = metropolitan cities & urban c\nties made pursuant to section #ajf ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecjf7 = any ( ! fir/ #e fiscal ye>s comm5c+ aft] ! date ( ! enactm5t ( ?is ,act to provide = phase-9 ( ! effects f ! am5dm5ts made by ?is ,act & to all[ su* entitlem5t entities to adju/ _! budgets accord+ly4