,,ii  #aag? ,,congress  #a/ ,session    
,s4 #bibj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #cj1         
#bjba,mr4 ,w>nock 7= himself1 ,mr4      
,br[n1 ,mr4 ,ka9e1 ,mr4 ,van ,holl51    
,ms4 ,w>r51 & ,mr4 ,w>n]7 introduc$ !   
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,bank+1 ,h\s+1 &     
,urban ,affairs  ,a ,,bill  ,to provide 
d[npaym5t assi/ance to fir/-g5]ation    
homebuy]s to address multig5]ational    
inequities 9 access to home[n]%ip & to  
n>r[ & ultimately close ! racial        
home[n]%ip gap 9 ! ,unit$ ,/ates1 & =   
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,d[npaym5t ,t[>d       
,equity ,act ( #bjba4  #b4              
,fir/-g5]ation d[npaym5t assi/ance      
d[npaym5t program  7a7 ,e/abli%m5t ,!   
,secret>y ( ,h\s+ & ,urban ,developm5t  
%all c>ry out a program "u ?is ,act to  
provide grants to ,/ates & eligible     
entities to provide f9ancial assi/ance  
"u ?is ,act to fir/-g5]ation homebuy]s  
to assi/ !m ) acquir+ own]-occupi$      

prim>y resid5ces4  7b7 ,allocation ,aft]
 res]v+ am\nts z requir$ "u sections    
#f7;d7 & #h7;b71 any rema9+ am\nts made 
available to c>ry out ?is ,act %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-- 7,a7 adult     
population size 7exclud+ exi/+          
home[n]s72  7,b7 m$ian area home prices2
 &  7,c7 racial disp>ities 9 home[n]%ip 
rates4  7#b7 ,eligible entities         
,tw5ty-five p]c5t ( su* am\nts %all be  
made available only to eligible entities
 on a competitive basis4  7c7 ,assi/ance
 ,am\nts f a grant "u ?is ,act %all be  
us$ only to provide assi/ance-- 7#a7 on 
behalf ( a qualifi$ homebuy]2 &  7#b7   
=-- 7,a7 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  7,b7 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 &  7,c7 pre-occupancy home       
modifications requir$ to accommodate    
qualifi$ homebuy]s or memb]s ( _!       
h\sehold ) disabilities4  7d7 ,am\nt ,a 
grant ( assi/ance "u ?is ,act-- 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  7e7 ,lay]+ ( assi/ance        
,assi/ance f grant am\nts "u ?is ,act   
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  7f7 ,/ate adm9i/ration  7#a7 ,9  
g5]al ,! ,secret>y %all require t ea*   
,/ate receiv+ grant am\nts "u ?is ,act  
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 
,act1 ! ,/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 ,act1 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  7g7  
,reallocation ( ,/ate am\nts ,!         
,secret>y %all reallocate any grant     
funds "u ?is ,act 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 ,act1 z
 det]m9$ by ! ,secret>y4  7h7 ,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 ,act %all comply4   
#c4 ,qualifi$ homebuy]s  7a7            
,requirem5ts ,assi/ance f grant am\nts  
"u ?is ,act 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$-- 7,a7 #abj p]c5t ( m$ian  

income = ! area 7z det]m9$ by !         
,secret>y7 )9 :i*-- 7i7 ! eligible home 
to be acquir$ us+ su* assi/ance is      
locat$2 or  7ii7 ! place ( resid5ce ( ! 
homebuy] is locat$2 or  7,b7 9 ! case ( 
a homebuy] acquir+ an eligible home t is
 locat$ 9 a high-co/ area1 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 subsection ! ref]5ce 9 su* section  
#ib4b to ! ,am]ican ,dream ,d[npaym5t   
,initiative %all be consid]$ to ref] to 
! program "u ?is ,act4  7#c7            
,fir/-g5]ation homebuy] ,! homebuy] is1 
z self-atte/$ by ! homebuy]-- 7,a7 an   
individual-- 7i7 ^: p>5ts or legal      
gu>dians d n h any pres5t resid5tial    
own]%ip int]e/ 9 any ,/ate2 &  7ii7 ^:  
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  7,b7 an       
individual :o has at any "t be5 plac$ 9 
fo/] c>e4  7b7 ,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$1 = ! provision (         
d[npaym5t assi/ance "u ?is ,act to a    
borr[] :o does n meet ! eligibility     
requirem5ts if ! cr$itor does s 9 good  
fai? reliance on borr[] atte/ations (   
eligibility requir$ by ?is ,act or      
regulation4  #d4 ,eligible homes  7a7 ,9
 g5]al ,assi/ance f grant am\nts "u ?is 
,act 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       
section #c4  7b7 ,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 ,act fails or ceases to occupy !    
prop]ty acquir$ us+ su* assi/ance z !   
prim>y resid5ce ( ! homebuy]1 except 9 !
 case ( assi/ance provid$ 9 connection )
 ! pur*ase ( a prim>y resid5ce ?r\gh a  
%>$ equity home[n]%ip program1 !        
homebuy] %all repay to ! ,secret>y--    
7,a7 #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   
7,b7 #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  7,c7 
#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  7,d7 #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 &  7,e7 #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)/&+ p>agraph 7#a71 if a
 homebuy] on behalf ( :om assi/ance is  
provid$ f grant am\nts "u ?is ,act      
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 p>agraph 7#a71 ! homebuy] %all n be 
liable to ! ,secret>y = repaym5t ( !    
am\nt ( su* %ortage4  7c7 ,community l& 
tru/s & %>$ equity home[n]%ip programs  
,if assi/ance f grant am\nts "u ?is ,act
 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  #e4 ,eligible        
mortgage loans ,assi/ance f grant am\nts
 "u ?is ,act 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  #f4
 ,h\s+ c\nsel+ requirem5t  7a7 ,9 g5]al 
,except z provid$ pursuant to section   
#c1 assi/ance ) grant am\nts "u ?is ,act
 may n be provid$ on behalf ( a 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   
subsection 7c71 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 

by 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  7b7 ,alt]native 
requirem5t ,! ,secret>y %all provide t  
if a qualifi$ homebuy] is unable to     
complete ! requirem5t "u subsection 7a7 
)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 subsection   
7a71 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  7c7 ,ref]ral ^u mortgage
 d5ial ,! ,secret>y %all require t any  
qualifi$ homebuy] :o has complet$ a     
c\nsel+ program ref]r$ to 9 subsection  
7a7 or alt]native requirem5t pursuant to
 subsection 7b71 :o receives a commitm5t
 = assi/ance ) grant am\nts "u ?is ,act1

 & :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    
subsection 7a7 = 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  7d7 ,fund+ ,(  
any am\nts appropriat$ to c>ry out ?is  
,act1 ! ,secret>y %all use n less ?an #e
 p]c5t = co/s ( provid+ c\nsel+ ref]r$  
to 9 subsection 7a74  #g4 ,adm9i/rative 
co/s ,( any grant am\nts "u ?is ,act    
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  #h4 ,reports  7a7 ,9 
g5]al ,= ea* fiscal ye> dur+ :i* !      
,secret>y makes grants "u ?is ,act1 !   
,secret>y %all submit to ! ,congress1 & 
make publicly available onl9e 9 an      
easily accessible location on ! website 

( ! ,dep>tm5t ( ,h\s+ & ,urban          
,developm5t1 a report t %all include--  
7#a7 demographic in=mation reg>d+       
applicants = & recipi5ts ( assi/ance    
provid$ pursuant to ?is ,act1 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  7b7 ,capacity build+ ,( any      
am\nts appropriat$ to c>ry out ?is ,act1
 ! ,secret>y %all use n m ?an #a p]c5t  
to assi/ ,/ates & eligible entities to  

develop capacity to meet ! report+      
requirem5ts "u subsection 7a74 ,!       
,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  7c7 ,privacy requirem5ts    
7#a7 ,9 g5]al ,ea* ,/ate & eligible     
entity t receives a grant "u ?is ,act   
%all e/abli% data privacy & security    
requirem5ts = ! in=mation describ$ 9    
subsection 7a7 t-- 7,a7 include         
appropriate measures to ensure t !      
privacy ( ! individuals & h\seholds is  
protect$2  7,b7 provide t ! in=mation1  
includ+ any p]sonally id5tifiable       
in=mation1 is collect$ & us$ only = !   
purpose ( submitt+ reports "u subsection
 7a72 &  7,c7 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>*  7,a7 ,9 g5]al 
,! ,secret>y-- 7i7 may provide full &   
unr$act$ in=mation provid$ "u subsection

 7a71 includ+ p]sonally id5tifiable     
in=mation1 = /ati/ical rese>* purposes 9
 accordance ) exi/+ law2 &  7ii7 may    
collect & make available = /ati/ical    
rese>*1 at ! c5sus tract level1         
in=mation collect$ "u p>agraph 7#a74    
7,b7 ,application ( privacy requirem5ts 
,a recipi5t ( in=mation "u subp>agraph  
7,a7 %all e/abli% = su* in=mation ! data
 privacy & security requirem5ts describ$
 9 p>agraph 7#a74  #i4 ,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 ,act an    
opportunity to modify _! programs =     
assi/ance "u ?is ,act accord+ to su*    
recomm5dations4  #aj4 ,def9itions ,=    
purposes ( ?is ,act1 ! 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 (      
section #d4  7#e7 ,eligible mortgage    
loan ,! t]m eligible mortgage loan means
 a resid5tial mortgage loan t meets !   
requirem5ts ( section #e4  7#f7         
,qualifi$ homebuy] ,! t]m qualifi$      
homebuy] means a homebuy] :o meets !    
requirem5ts ( section #c1 & 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$ures = comply+ 
) ?is subp>agraph4  7,b7 ,economic      
disadvantage ,! individual has an income
 t meets ! requirem5ts "u section       
#c7;a74  7#aj7 ,/ate ,! t]m ,/ate means 
any ,/ate ( ! ,unit$ ,/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  #aa4 ,regulations ,! 
,secret>y %all issue any regulations    
necess>y to implem5t ?is ,act4  #ab4    
,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$ = grants "u  
?is ,act #ajj1jjj1jjj1jjj1 & any am\nts 
appropriat$ pursuant to ?is section %all

 rema9 available until exp5d$4