,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #egcc  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,septemb] #bf1        
#bjbc,ms4 ,slotk9 introduc$ ! foll[+    
bill2 :i* 0 ref]r$ to ! ,committee on   
,f9ancial ,s]vices  ,a ,,bill  ,to      
e/abli% a competitive grant program at !
 ,dep>tm5t ( ,h\s+ & ,urban ,developm5t 
to support ! con/ruction1 pres]vation1  
or rehabilitation ( af=dable work=ce    
h\s+ 9 areas ) %ortages ( af=dable h\s+ 
units = sale1 & = o!r purposes4  #a4    
,%ort title ,?is ,act may be cit$ z !   
,work=ce ,h\s+ ,developm5t ,act4  #b4   
,competitive grant program to support   
work=ce h\s+ units  7a7 ,def9itions ,9  
?is section3  7#a7 ,af=dable ,! t]m     
af=dable1 ) respect to a work=ce h\s+   
unit1 means t ! total h\s+ co/s = ! unit
 d n exce$ #cj p]c5t ( ! income ( ! buy]
 ( ! work=ce h\s+ unit4  7#b7           
,appropriate congressional committees ,!
 t]m appropriate congressional          
committees means--  7,a7 ! ,committee on
 ,bank+1 ,h\s+1 & ,urban ,affairs ( !   

,s5ate2 &  7,b7 ! ,committee on         
,f9ancial ,s]vices ( ! ,h\se (          
,repres5tatives4  7#c7 ,dwell+ ,! t]m   
dwell+ means any build+1 /ructure1 or   
portion !re( t is occupi$ z1 or design$ 
or int5d$ = occupancy z1 a resid5ce by  
#a or m individuals4  7#d7 ,eligible    
entity ,! t]m eligible entity means--   
7,a7 a ,/ate or unit ( local gov]nm5t2  
7,b7 a nonpr(it h\s+ develop]2  7,c7 an 
ag5cy or in/rum5tality ( a ,/ate2  7,d7 
a public h\s+ ag5cy2  7,e7 a community  
developm5t f9ancial in/itution1 z def9$ 
9 section #ajc ( ! ,community           
,developm5t ,bank+ & ,f9ancial          
,in/itutions ,act ( #aiid 7#ab ,u4,s4,c4
 #dgjb72  7,f7 a resid5t-own$ community2
 &  7,g7 any o!r entity t supports h\s+ 
developm5t1 z det]m9$ by ! ,secret>y4   
7#e7 ,fir/-"t homebuy] ,! t]m fir/-"t   
homebuy] has ! mean+ giv5 ! t]m 9       
section #ajd ( ! ,cran/on-,gonzalez     
,national ,af=dable ,h\s+ ,act 7#db     
,u4,s4,c4 #abgjd74  7#f7 ,nonpr(it h\s+ 
develop] ,! t]m nonpr(it h\s+ develop]  

means a nonpr(it organization hav+ z "o 
( its pr9cipal purposes ! creation1     
developm5t1 or pres]vation ( h\s+1      
includ+ a subsidi>y ( a public h\s+     
ag5cy4  7#g7 ,program ,! t]m ,program   
means ! grant program e/abli%$ "u ?is   
section4  7#h7 ,public h\s+ ag5cy2 ,/ate
 ,! t]ms public h\s+ ag5cy & ,/ate h !  
mean+s giv5 ^? t]ms 9 section #c7;b7 ( !
 ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db  
,u4,s4,c4 #adcg;a7b774  7#i7 ,secret>y  
,! t]m ,secret>y means ! ,secret>y (    
,h\s+ & ,urban ,developm5t4  7#aj7      
,total h\s+ co/s ,! t]m total h\s+ co/s 
means mortgage pr9cipal & int]e/1 taxes1
 & insurance4  7#aa7 ,work=ce h\s+ unit 
,! t]m work=ce h\s+ unit means a #a- to 
#d-unit dwell+--  7,a7 t is ! prim>y    
resid5ce ( ! buy]2  7,b7 9 :i* none ( ! 
units are r5t$2 &  7,c7 t is af=dable to
 buy]s ) incomes ( n m ?an #ajj p]c5t ( 
! area m$ian income4  7b7 ,e/abli%m5t ,!
 ,secret>y %all e/abli% a competitive   
grant program to aw>d grants to eligible
 entities to increase ! supply (        

af=dable work=ce h\s+ units4  7c7 ,use (
 funds ,a recipi5t ( a grant "u !       
,program %all use grant funds = !       
con/ruction1 pres]vation1 or            
rehabilitation ( work=ce h\s+ units1 :i*
 %all rema9 af=dable = a p]iod ( n less 
?an #e ye>s f ! sale ( ! work=ce h\s+   
unit4  7d7 ,application & selection     
process  7#a7 ,application ,an eligible 
entity desir+ a grant "u ! ,program %all
 submit to ! ,secret>y an application at
 su* "t1 9 su* mann]1 & conta9+--  7,a7 
a description ( ! con/ruction1          
pres]vation1 or rehabilitation projects 
to be support$ by ! grant2 &  7,b7 any  
additional in=mation z ! ,secret>y may  
require4  7#b7 ,selection ( grantees    
7,a7 ,9 g5]al ,! ,secret>y %all e/abli% 
crit]ia to aw>d grants "u ! ,program on 
a competitive basis1 :i* may include    
consid]ation ( :e!r-- 7i7 ! m$ian price 
( work=ce h\s+ units 9 ! area to be s]v$
 by ! grant is increas+2  7ii7 ! supply 
( available work=ce h\s+ units 9 ! area 
to be s]v$ by ! grant is decreas+2 &    

7iii7 :e!r employ]s 9 ! area to be s]v$ 
by ! grant are /ruggl+ to recruit       
employees due to ! lack ( af=dable h\s+ 
options4  7,b7 ,priority ,! ,secret>y   
%all prioritize aw>d+ grants to eligible
 entities t demon/rate a lack ( af=dable
 work=ce h\s+ units 9 ! area to be s]v$ 
by ! grant4  7e7 ,report to ,congress ,n
 lat] ?an #a ye> aft] ! date ( enactm5t 
( ?is ,act1 & ea* ye> !reaft]1 !        
,secret>y %all submit to ! appropriate  
congressional committees a report on !  
implem5tation ( ! ,program1 :i* %all    
include--  7#a7 a li/ ( grant recipi5ts 
& ! am\nt aw>d$ to ea* grant recipi5t2  
7#b7 a description ( ! projects assi/$  
us+ grant funds1 includ+ ! numb] (      
af=dable work=ce h\s+ units creat$1     
pres]v$1 & rehabilitat$ "u ! ,program2  
7#c7 a description ( ! h\seholds t      
pur*as$ homes assi/$ "u ! ,program1     
includ+ ! numb] ( fir/-"t homebuy]s2 &  
7#d7 any o!r metrics t ! ,secret>y      
det]m9es necess>y4  7f7 ,work=ce ,h\s+  
,developm5t ,fund  7#a7 ,9 g5]al ,!re is

 e/abli%$ 9 ! ,treasury a fund to be    
kn[n z ! ,work=ce ,h\s+ ,developm5t     
,fund to c>ry out ! ,program4  7#b7     
,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$ & deposit$   
into ! fund e/abli%$ "u p>agraph 7#a7   
su* sums z may be necess>y = fiscal ye> 
#bjbd & ea* fiscal ye> !reaft]4