,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #hgad  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #ab1 #bjbd,ms4  
,leg] ,f]n&ez 7= h]self1 ,mr4 ,co/a1    
,mr4 ,rob]t ,g>cia ( ,cali=nia1 ,ms4    
,g>cia ( ,texas1 ,mr4 ,grijalva1 ,ms4   
,lee ( ,cali=nia1 ,ms4 ,norton1 ,mrs4   
,ramirez1 ,ms4 ,sal9as1 ,ms4 ,/ansbury1 
& ,mrs4 ,watson ,coleman7 introduc$ !   
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,f9ancial ,s]vices1 & 9   
addition to ! ,committee on ,ways &     
,means1 = 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 require ! ,secret>y ( ,h\s+
 & ,urban ,developm5t to e/abli% a      
program to provide home[n]%ip assi/ance 
grants1 & = o!r purposes4  #a4 ,%ort    
title ,?is ,act may be cit$ z ! ,home ( 
,y\r ,own ,act ( #bjbd4  #b4 ,e/abli%m5t
 ( ,home[n]%ip ,assi/ance ,grant        
,program  7a7 ,9 g5]al ,! ,secret>y (   
,h\s+ & ,urban ,developm5t %all1 n lat] 

?an #a ye> aft] ! date ( ! enactm5t (   
?is ,act e/abli% a home[n]%ip assi/ance 
grant program ?r\gh :i* am\nts are      
provid$ to ,/ates & ,indian tribes to   
assi/ ! pur*ase ( eligible homes by     
eligible p]sons4  7b7 ,allocation (     
am\nts  7#a7 ,9 g5]al ,! ,secret>y %all 
res]ve #c p]c5t ( any am\nts appropriat$
 "u ?is ,act1 = a fiscal ye>1 = grants  
to ,indian tribes 9 accordance ) ! =mula
 e/abli%$ by ! ,secret>y pursuant to    
section #cjb ( ! ,native ,am]ican ,h\s+ 
,assi/ance & ,self-,det]m9ation ,act (  
#aiif4  7#b7 ,rema9+ am\nts ,aft] res]v+
 su* am\nts = ,indian tribes "u p>agraph
 7#a71 ! ,secret>y %all equitably       
allocate rema9+ am\nts to p>ticipat+    
,/ates 9 accordance ) a =mula e/abli%$  
by ! ,secret>y by rule4  7c7 ,use (     
am\nts  7#a7 ,9 g5]al ,/ates & ,indian  
tribes t receive am\nts "u ?is ,act %all
 use su* am\nts to provide assi/ance on 
behalf ( eligible p]sons =-- 7,a7 co/s  
incurr$ acquir+ an own]%ip int]e/ 9 an  
eligible home by means ( an eligible    

mortgage loan1 includ+ d[npaym5t co/s1  
clos+ co/s1 & co/s to r$uce int]e/ rates
 on su* loan2 or  7,b7 pre-occupancy    
repairs or modifications requir$ = a    
memb] ( ! h\sehold ( ! homebuy] to      
occupy ! home foll[+ su* acquisition1   
includ+ repairs to br+ ! home up to     
inspection /&>ds & co/s associat$ )     
accommodations = a h\sehold memb] ) a   
disability4  7#b7 ,am\nt ( assi/ance    
,/ates & ,indian tribes t receive am\nts
 "u ?is ,act may provide assi/ance only 
once on behalf ( an eligible p]son & !  
am\nt ( su* assi/ance provid$ on behalf 
( su* eligible p]son %all be #cj1jjj4   
7d7 ,lay]+ ( assi/ance ,/ates & ,indian 
tribes t receive am\nts "u ?is ,act may 
provide assi/ance on behalf ( an        
eligible p]son :o is receiv+ assi/ance f
 o!r s\rces1 includ+ o!r ,/ate1 ,f$]al1 
,indian tribe1 tribal organization1     
local private1 public1 & nonpr(it       
s\rces1 = acquisition ( an own]%ip      
int]e/ 9 an eligible home4  7e7         
,repaym5t ( assi/ance if occupancy n    

cont9u$  7#a7 ,9 g5]al ,if an eligible  
p]son does n cont9ue to occupy1 z a     
prim>y resid5ce1 ! eligible home = :i* !
 cov]$ p]son receives assi/ance "u ?is  
,act = ! #fj-mon? p]iod beg9n+ :5 !     
cov]$ p]son is able to lawfully occupy !
 eligible home1 ! ,secret>y %all require
 ! eligible p]son to repay ! assi/ance  
receiv$ 9 an am\nt t is proportional to 
! numb] ( mon?s ! eligible p]son did n  
occupy ! eligible home z a prim>y       
resid5ce4  7#b7 ,exceptions ,! ,secret>y
 may n require a eligible p]son to repay
 assi/ance "u p>agraph 7#a7 if !        
,secret>y det]m9es t-- 7,a7 a h>d%ip    
prev5ts ! eligible p]son f occupy+ !    
eligible home z ! prim>y resid5ce2 or   
7,b7 any am\nt receiv$ by ! eligible    
p]son f an arm's l5g? transaction sell+ 
! entirety ( ! own]%ip int]e/ 9 !       
eligible home ( ! homebuy] to a bona    
fide pur*as] is less ?an ! orig9al co/ (
 acquisition ( ! home1 includ+ clos+    
co/s4  7#c7 ,use ( li5 ,! ,/ate or      
,indian tribe t provid$ ! assi/ance to !

 eligible p]son may place a li5 on !    
eligible home = ! purpose ( recaptur+   
su* assi/ance4  7#d7 ,use ( recaptur$   
am\nts ,any assi/ance repay$ pursuant to
 p>agraph 7#a7 %all be us$ to provide   
assi/ance to o!r cov]$ p]sons4  7f7     
,assi/ance am\nts exclud$ f ,f$]al      
taxation ,= purposes ( ! ,int]nal       
,rev5ue ,code ( #aihf1 gross income %all
 n include any assi/ance provid$ "u ?is 
,act4  7g7 ,rule ( con/ruction          
,assi/ance provid$ to an eligible p]son 
"u ?is section may n be consid]$ funds f
 a prohibit$ s\rce = ! purposes (       
section #bjc7;b77#i77;,c7 ( ! ,national 
,h\s+ ,act4  #c4 ,adm9i/ration ( grants 
by ,/ates & ,indian tribes  7a7         
,adm9i/ration by ,/ates  7#a7 ,9 g5]al  
,! ,secret>y %all require t ea* ,/ate   
receiv+ grant am\nts "u ?is ,act-- 7,a7 
submit an annual plan to ! ,secret>y )  
respect to implem5t+ & comply+ ) !      
requirem5ts ( ?is ,act2 &  7,b7         
di/ribute n less ?an #be p]c5t ( !      
am\nts allocat$ to ! ,/ate ?r\gh        

community developm5t f9ancial           
in/itutions4  7#b7 ,annual plan ,!      
annual plan requir$ "u p>agraph 7#a7 may
 be includ$ 9 ! ,annual ,action ,plan   
submitt$ to ! ,secret>y by su* ,/ate4   
7#c7 ,outs\rc+ p]mitt$ ,! ,secret>y may 
p]mit a ,/ate to contract ) "o or m ( ! 
foll[+ to provide am\nts to eligible    
p]sons on behalf ( ! ,/ate3 7,a7 ,a     
nonpr(it entity approv$ by ! ,secret>y4 
7,b7 ,a community developm5t f9ancial   
in/itution4  7b7 ,adm9i/ration by       
,indian tribes  7#a7 ,9 g5]al ,!        
,secret>y %all require t ea* ,indian    
tribe receiv+ grant am\nts "u ?is ,act--
 7,a7 submit an annual plan to !        
,secret>y ) respect to implem5t+ &      
comply+ ) ! requirem5ts ( ?is ,act2 &   
7,b7 consid] di/ribut+ "s or all am\nts 
allocat$ to ! ,indian tribe ?r\gh       
community developm5t f9ancial           
in/itutions4  7#b7 ,annual plan ,!      
annual plan requir$ "u p>agraph 7#a7 may
 be includ$ 9 ! ,indian ,h\s+ ,plan     
submitt$ to ! ,secret>y by su* ,indian  

tribe4  7#c7 ,outs\rc+ p]mitt$ ,!       
,secret>y may p]mit a ,tribe to contract
 ) "o or m ( ! foll[+ to provide am\nts 
to eligible p]sons on behalf ( ! ,tribe3
 7,a7 ,a nonpr(it entity approv$ by !   
,secret>y4  7,b7 ,a ,tribally designat$ 
h\s+ entity4  7,c7 ,an int]tribal       
consortium4  7,d7 ,a community          
developm5t f9ancial in/itution4  7#d7   
,pref]5ce p]mitt$ ,an ,indian tribe t   
receives am\nts "u ?is ,act may provide 
pref]5ce to eligible p]sons :o are      
memb]s ( su* ,indian tribe z well z to  
memb]s ( o!r ,indian tribes4  #d4       
,f9ancial c\nsel+ requirem5t  7a7 ,9    
g5]al ,a ,/ate or ,indian tribe may only
 provide assi/ance "u ?is ,act to a     
eligible p]son if su* eligible p]son1   
be=e receiv+ su* assi/ance1 completes a 
f9ancial c\nsel+ program ) respect to ! 
responsibilities & f9ancial managem5t ( 
home[n]%ip4  7b7 ,approval & mann] (    
program ,! f9ancial c\nsel+ program %all
 be conduct$ by an entity t provides    
f9ancial c\nsel+ approv$ by1 & 9 a mann]

 acceptable to-- 7#a7 ! ,secret>y2 or   
7#b7 ! ,indian tribe or ,/ate provid+   
assi/ance to ! eligible p]son4  #e4     
,au?orization ( appropriations2         
adm9i/rative co/s  7a7 ,9 g5]al ,!re is 
au?oriz$ to be appropriat$              
#f1gjj1jjj1jjj = ea* ( fiscal ye>s #bjbe
 ?r\gh #bjbi to c>ry out ?is ,act4  7b7 
,program adm9i/ration  7#a7 ,= ,/ates ,n
 m ?an #g p]c5t ( any am\nts provid$ to 
a ,/ate "u ?is ,act may be us$ by su*   
,/ate to cov] adm9i/rative co/s4  7#b7  
,= ,indian ,tribes ,n m ?an #aj p]c5t ( 
any am\nts provid$ to an ,indian ,tribe 
"u ?is ,act may be us$ by su* ,indian   
,tribe to cov] adm9i/rative co/s4  7c7  
,tra9+ & te*nical assi/ance ,n m ?an #c 
p]c5t ( any am\nts appropriat$ "u ?is   
,act may be us$ by ! ,secret>y to       
provide tra9+ & te*nical assi/ance to   
,/ates & ,indian tribes4  #f4           
,def9itions ,9 ?is ,act3 7#a7 ,community
 developm5t f9ancial in/itution ,! t]m  
community developm5t f9ancial in/itution
 has ! mean+ giv5 ! t]m 9 section #ajc (

 ! ,community ,developm5t ,bank+ &      
,f9ancial ,in/itutions ,act ( #aiid4    
7#b7 ,eligible home ,! t]m eligible home
 means a resid5tial prop]ty1 includ+ a  
condom9ium1 a coop]ative1 or manufactur$
 h\s+ unit-- 7,a7 t consi/s ( #a to #d  
dwell+ units1 includ+ accessory dwell+  
units2  7,b7 is subject to a mortgage1  
&-- 7i7 meets ! und]writ+ requirem5ts & 
doll> am\nt limitations = acquisition by
 ! ,f$]al ,national ,mortgage           
,association or ! ,f$]al ,home ,loan    
,mortgage ,corporation2  7ii7 is made1  
insur$1 or gu>ante$ "u any program      
adm9i/]$ by ! ,secret>y2  7iii7 is made1
 insur$1 or gu>ante$ by ! ,rural ,h\s+  
,adm9i/rator ( ! ,dep>tm5t (            
,agriculture2  7iv7 is a qualifi$       
mortgage1 z def9$ 9 section             
#abi;,c7b77#b7 ( ! ,tru? 9 ,l5d+ ,act   
7#ae ,u4,s4,c4 #afci;c7b77#b772  7v7 is 
made1 insur$1 or gu>ante$ by ! ,secret>y
 ( ,vet]ans ,affairs pursuant to *apt]  
#cg ( title #ch1 ,unit$ ,/ates ,code2 or
  7vi7 9 ! case ( a resid5tial prop]ty  

locat$ on tribal tru/ or res]vation l&1 
meets su* requirem5ts z ! ,secret>y     
det]m9es appropriate = consum]          
protection2 &  7,c7 %all be occupi$ by  
an eligible p]son z a prim>y resid5ce4  
7#c7 ,eligible p]son  7,a7 ,9 g5]al ,!  
t]m eligible p]son means-- 7i7 a p]son  
:o1 z self-atte/$ by ! p]son1 is a      
fir/-"t homebuy]2 &  7ii7 is a "p ( a   
h\sehold1 ! income ( :i* does n exce$-- 
7,i7 9 ! case ( a p]son pur*as+ an      
eligible home t is n locat$ on ,indian  
tribe l&1 #abj p]c5t ( ! m$ian income = 
! local area1 z det]m9$ by ! ,secret>y1 
)9 :i*-- 7aa7 ! eligible home1 = :i* !  
own]%ip int]e/ is to be acquir$ us+ su* 
assi/ance1 is locat$2 or  7bb7 ! place (
 resid5ce ( ! homebuy] is locat$2 &     
7,,ii7 9 ! case ( a p]son :o is pur*as+ 
an eligible home t is locat$ on ,indian 
tribe l&1 ! great] ( #abj p]c5t ( !     
m$ian income ( ! ,unit$ ,/ates or #abj  
p]c5t ( ! m$ian income = ! local area1 z
 det]m9$ by ! ,secret>y1 )9 :i*-- 7aa7 !
 eligible home1 = :i* ! own]%ip int]e/  

is to be acquir$ us+ su* assi/ance1 is  
locat$2 or  7bb7 ! place ( resid5ce ( ! 
homebuy] is locat$4  7,b7 ,exception ,if
 ! ,secret>y det]m9es t ! area describ$ 
9 subp>agraph 7,a77ii7 is a high        
co/-(-liv+ area1 !n ! eligible p]son is 
requir$ to be a "p ( a h\sehold1 !      
income ( :i* does n exce$ #aej p]c5t ( !
 m$ian income = ! area1 z det]m9$ by !  
,secret>y4  7#d7 ,fir/-"t homebuy] ,!   
t]m fir/-"t homebuy] has ! mean+ giv5 ! 
t]m is def9$ 9 section #ajd ( ! ,cran/on
 ,gonzalez ,national ,af=dable ,h\s+    
,act4  7#e7 ,indian tribe ,! t]m ,indian
 tribe has ! mean+ giv5 ! t]m 9 section 
#d ( ! ,native ,am]ican ,h\s+ ,assi/ance
 & ,self-,det]m9ation ,act ( #aiif 7#be 
,u4,s4,c4 #dajc74  7#f7 ,own]%ip int]e/ 
,! t]m own]%ip int]e/ means any own]%ip1
 exclud+ any int]e/ 9 heir prop]ty1 9-- 
7,a7 real e/ate 9 fee simple2  7,b7 a   
leasehold on real e/ate1 "u a lease t is
 n less ?an #aj ye>s long] ?an ! t]m ( !
 mortgage2  7,c7 a fee int]e/ 91 or     
long-t]m leasehold int]e/ 91 real e/ate 

consi/+ ( a "o-family unit 9 a          
multifamily project1 includ+ a project 9
 :i* ! dwell+ units are atta*$1 or are  
manufactur$ h\s+ units1 semi-deta*$1 or 
deta*$1 & an undivid$ int]e/ 9 ! common 
areas & facilities :i* s]ve ! project4  
7#g7 ,secret>y ,! t]m ,secret>y means ! 
,secret>y ( ,h\s+ & ,urban ,developm5t4 
7#h7 ,/ate ,! t]m ,/ate means ! #ej     
,/ates ( ! ,unit$ ,/ates1 ! ,di/rict (  
,columbia1 ! ,commonweal? ( ,pu]to      
,rico1 ,guam1 ! ,commonweal? ( ! ,nor!rn
 ,m>iana ,isl&s1 ! ,virg9 ,isl&s1 &     
,am]ican ,samoa4