,,ii  #aah? ,,congress  #a/ ,session    
,s4 #achi  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #a1 #bjbc,ms4     
,smi? 7= h]self & ,mr4 ,r\nds7 introduc$
 ! foll[+ bill2 :i* 0 read twice &      
ref]r$ to ! ,committee on ,bank+1 ,h\s+1
 & ,urban ,affairs  ,a ,,bill  ,to re=m 
rural h\s+ programs1 & = o!r purposes4  
#a4 ,%ort title2 table ( cont5ts  7a7   
,%ort title ,?is ,act may be cit$ z !   
,rural ,h\s+ ,s]vice ,re=m ,act ( #bjbc4
  7b7 ,table ( cont5ts ,! table (       
cont5ts ( ?is ,act is z foll[s3 ,sec4   
#a4 ,%ort title2 table ( cont5ts4,,title
 ,i--,/reaml9+ & updates,sec4 #aja4     
,application ( multifamily mortgage     
=eclosure proc$ures to multifamily      
mortgages held by ! ,secret>y (         
,agriculture4,sec4 #ajb4 ,/udy on rural 
h\s+ loans = h\s+ = l[- & mod]ate-income
 families4,sec4 #ajc4 ,au?orization (   
appropriations = /aff+ ne$s & in=mation 
te*nology upgrades4,,title ,,ii--,rural 
h\s+ pres]vation & revitalization,sec4  
#bja4 ,p]man5t e/abli%m5t ( h\s+        

pres]vation & revitalization            
program4,sec4 #bjb4 ,eligibility = rural
 h\s+ v\*]s4,sec4 #bjc4 ,am\nt ( v\*]   
assi/ance4,sec4 #bjd4 ,r5tal assi/ance  
contract au?ority4,sec4 #bje4 ,fund+ =  
multifamily te*nical improvem5ts4,,title
 ,,iii--,native ,,cdfi relending,sec4   
#cja4 ,native ,,cdfi rel5d+             
program4,,title ,,iv--,section #ejd     
loans & grants,sec4 #dja4 ,modifications
 to loans & grants = m9or improvem5ts to
 f>m h\s+ & build+s4,,title ,v--,rural  
community developm5t initiative         
grants,sec4 #eja4 ,rural ,community     
,developm5t ,initiative4,,title         
,,vi--,annual report,sec4 #fja4 ,annual 
report on rural h\s+ programs4,,title   
,,vii--,rural h\s+ v\*] program,sec4    
#gja4 ,adju/m5t to rural developm5t v\*]
 am\nt4,,title ,,viii--,transf]s to     
nonpr(it organizations,sec4 #hja4       
,transf] ( eld]ly rural h\s+            
projects4,,title ,,ix--,t]m ( direct    
loans made by ! ,rural ,h\s+            
,service,sec4 #ija4 ,ext5sion ( loan    

t]m4  ,i ,/reaml9+ & updates  #aja4     
,application ( multifamily mortgage     
=eclosure proc$ures to multifamily      
mortgages held by ! ,secret>y (         
,agriculture ,! ,multifamily ,mortgage  
,=eclosure ,act ( #aiha 7#ab ,u4,s4,c4  
#cgja et seq47 is am5d$-- 7#a7 9 section
 #cfc 7#ab ,u4,s4,c4 #cgjb7-- 7,a7 9    
p>agraph 7#b7-- 7i7 9 subp>agraph 7,d71 
by /rik+ & at ! end2  7ii7 9 subp>agraph
 7,e71 by /rik+ ! p]iod at ! end &      
ins]t+ 2 or2 &  7iii7 by add+ at ! end !
 foll[+3  7,f7 section #ead1 #eae1 or   
#ech ( ! ,h\s+ ,act ( #aidi 7#db        
,u4,s4,c4 #adhd1 #adhe1 #adijp74  2 &   
7,b7 9 p>agraph 7#aj7-- 7i7 by /rik+    
means ! ,secret>y & ins]t+ ! foll[+3    
means-- 7,a7 ! ,secret>y  2  7ii7 9     
subp>agraph 7,a71 z s designat$1 by     
/rik+ ! p]iod at ! end & ins]t+ 1 )     
respect to a multifamily mortgage       
describ$ 9 subp>agraph 7,a71 7,b71 7,c71
 7,d71 or 7,e7 ( p>agraph 7#b72 &2 &    
7iii7 by add+ at ! end ! foll[+3  7,b7 !
 ,secret>y ( ,agriculture1 ) respect to 

a multifamily mortgage describ$ 9       
p>agraph 7#b77;,f74  4  #ajb4 ,/udy on  
rural h\s+ loans = h\s+ = l[- &         
mod]ate-income families ,n lat] ?an #f  
mon?s aft] ! date ( enactm5t ( ?is ,act1
 ! ,secret>y ( ,agriculture %all conduct
 a /udy & submit to ,congress a publicly
 available report on ! loan program "u  
section #eba ( ! ,h\s+ ,act ( #aidi 7#db
 ,u4,s4,c4 #adij;a71 includ+-- 7#a7 !   
total am\nt provid$ by ! ,secret>y 9    
subsidies "u su* section #eba2  7#b7 h[ 
mu* ( ! subsidies are be+ recaptur$2 &  
7#c7 ! am\nt ( "t & co/s associat$ )    
recaptur+ ^? subsidies4  #ajc4          
,au?orization ( appropriations = /aff+  
ne$s & in=mation te*nology upgrades ,!re
 is au?oriz$ to be appropriat$ to !     
,secret>y ( ,agriculture su* sums z may 
be necess>y = increas$ /aff+ ne$s &     
in=mation te*nology upgrades to support 
all pres]vation ef=ts ( ! ,rural ,h\s+  
,s]vice4  ,,ii ,rural h\s+ pres]vation &
 revitalization  #bja4 ,p]man5t         
e/abli%m5t ( h\s+ pres]vation &         

revitalization program ,title ,v ( !    
,h\s+ ,act ( #aidi 7#db ,u4,s4,c4 #adga 
et seq47 is am5d$ by add+ at ! end !    
foll[+3  #ede4 ,h\s+ pres]vation &      
revitalization program  7a7 ,e/abli%m5t 
,! ,secret>y %all c>ry out a program "u 
?is section = ! pres]vation &           
revitalization ( multifamily r5tal h\s+ 
projects f9anc$ "u section #eae or bo?  
sections #ead & #eaf4  7b7 ,notice (    
matur+ loans  7#a7 ,to own]s ,on an     
annual basis1 ! ,secret>y %all provide  
writt5 notice to ea* own] ( a prop]ty   
f9anc$ "u section #eae or bo? sections  
#ead & #eaf t w mature )9 ! #d-ye> p]iod
 beg9n+ ^u ! provision ( ! notice1 sett+
 =? ! options & f9ancial inc5tives t are
 available to facilitate ! ext5sion ( ! 
loan t]m or ! option to dec\ple a r5tal 
assi/ance contract pursuant to          
subsection 7f74  7#b7 ,to t5ants  7,a7  
,9 g5]al ,= ea* prop]ty f9anc$ "u       
section #eae or bo? sections #ead &     
#eaf1 n lat] ?an ! date t is #b ye>s    
be=e ! date t ! loan w mature1 !        

,secret>y %all provide writt5 notice to 
ea* h\sehold resid+ 9 ! prop]ty t in=ms 
!m ( ! date ( ! loan maturity1 !        
possible actions t may happ5 ) respect  
to ! prop]ty ^u t maturity1 & h[ to     
protect _! "r to reside 9 f$]ally assi/$
 h\s+ aft] t maturity4  7,b7 ,language  
,notice "u ?is p>agraph %all be provid$ 
9 pla9 ,engli% & %all be translat$ to   
o!r languages 9 ! case ( any prop]ty    
locat$ 9 an area 9 :i* a significant    
numb] ( resid5ts speak su* o!r          
languages4  7c7 ,loan re/ructur+ ,"u !  
program "u ?is section1 9 any           
circum/ance 9 :i* ! ,secret>y proposes a
 re/ructur+ to an own] or an own]       
proposes a re/ructur+ to ! ,secret>y1 ! 
,secret>y may re/ructure su* exi/+ h\s+ 
loans1 z ! ,secret>y consid]s           
appropriate1 = ! purpose ( ensur+ t ^?  
projects h suffici5t res\rces to pres]ve
 ! projects to provide safe & af=dable  
h\s+ = l[-income resid5ts & f>m labor]s1
 by-- 7#a7 r$uc+ or elim9at+ int]e/2    
7#b7 def]r+ loan paym5ts2  7#c7         

subord9at+1 r$uc+1 or reamortiz+ loan   
debt2 &  7#d7 provid+ o!r f9ancial      
assi/ance1 includ+ advances1 paym5ts1 & 
inc5tives 7includ+ ! ability ( own]s to 
obta9 reasonable returns on inve/m5t7   
requir$ by ! ,secret>y4  7d7 ,r5ewal (  
r5tal assi/ance  7#a7 ,9 g5]al ,:5 !    
,secret>y proposes to re/ructure a loan 
or agrees to ! proposal ( an own] to    
re/ructure a loan pursuant to subsection
 7c71 ! ,secret>y %all (f] to r5ew !    
r5tal assi/ance contract "u section     
#eba7;a77#b7 = a #bj-ye> t]m t is       
subject to annual appropriations1       
provid$ t ! own] agrees to br+ ! prop]ty
 up to su* /&>ds t w ensure ma9t5ance ( 
! prop]ty z dec5t1 safe1 & sanit>y h\s+ 
= ! full t]m ( ! r5tal assi/ance        
contract4  7#b7 ,additional r5tal       
assi/ance ,) respect to a project       
describ$ 9 p>agraph 7#a71 if r5tal      
assi/ance is n available = all h\seholds
 9 ! project = :i* ! loan is be+        
re/ructur$ pursuant to subsection 7c71 !
 ,secret>y may ext5d su* additional     

r5tal assi/ance to unassi/$ h\seholds at
 t project z is necess>y to make !      
project safe & af=dable to l[-income    
h\seholds4  7e7 ,re/rictive use         
agreem5ts  7#a7 ,requirem5t ,z "p ( !   
pres]vation & revitalization agreem5t = 
a project1 ! ,secret>y %all obta9 a     
re/rictive use agreem5t t obligates !   
own] to op]ate ! project 9 accordance ) 
?is title4  7#b7 ,t]m  7,a7 ,no ext5sion
 ( r5tal assi/ance contract ,except :5 !
 ,secret>y ent]s into a #bj-ye> ext5sion
 ( ! r5tal assi/ance contract = a       
project1 ! t]m ( ! re/rictive use       
agreem5t = ! project %all be consi/5t ) 
! t]m ( ! re/ructur$ loan = ! project4  
7,b7 ,ext5sion ( r5tal assi/ance        
contract ,if ! ,secret>y ent]s into a   
#bj-ye> ext5sion ( ! r5tal assi/ance    
contract = a project1 ! t]m ( !         
re/rictive use agreem5t = ! project %all
 be = #bj ye>s4  7,c7 ,t]m9ation ,!     
,secret>y may t]m9ate ! #bj-ye> use     
re/rictive use agreem5t = a project be=e
 ! end ( ! t]m ( ! agreem5t if ! #bj-ye>

 r5tal assi/ance contract = ! project ) 
! own] is t]m9at$ at any "t = reasons   
outside ! control ( ! own]4  7f7        
,dec\pl+ ( r5tal assi/ance  7#a7 ,r5ewal
 ( r5tal assi/ance contract ,if !       
,secret>y det]m9es t a matur+ loan = a  
project _c reasonably be re/ructur$ 9   
accordance ) subsection 7c7 because x is
 n f9ancially feasible or ! own] does n 
agree ) ! propos$ re/ructur+1 & !       
project 0 op]at+ ) r5tal assi/ance "u   
section #eba1 ! ,secret>y may r5ew !    
r5tal assi/ance contract1 not)/&+ any   
provision ( section #eba1 = a t]m1      
subject to annual appropriations1 ( n   
less ?an #aj ye>s b n m ?an #bj ye>s4   
7#b7 ,additional r5tal assi/ance ,)     
respect to a project describ$ 9 p>agraph
 7#a71 if r5tal assi/ance is n available
 = all h\seholds 9 ! project = :i* !    
loan is be+ re/ructur$ pursuant to      
subsection 7c71 ! ,secret>y may ext5d   
su* additional r5tal assi/ance to       
unassi/$ h\seholds at t project z is    
necess>y to make ! project safe &       

af=dable to l[-income h\seholds4  7#c7  
,r5ts ,any agreem5t to ext5d ! t]m ( !  
r5tal assi/ance contract "u section #eba
 = a project %all obligate ! own] to    
cont9ue to ma9ta9 ! project z dec5t1    
safe & sanit>y h\s+ & to op]ate !       
developm5t 9 accordance ) ?is title1    
except t r5ts %all be bas$ on ! less]   
(-- 7,a7 ! budget-bas$ ne$s ( ! project2
 or  7,b7 ! op]at+ co/ adju/m5t factor z
 a paym5t /&>d z provid$ "u section #ebd
 ( ! ,multifamily ,assi/$ ,h\s+ ,re=m & 
,af=dability ,act ( #aiig 7#db ,u4,s4,c4
 #adcg note74  7#d7 ,conditions =       
approval  7,a7 ,plan ,be=e ! approval ( 
a r5tal assi/ance contract au?oriz$ "u  
?is section1 ! ,secret>y %all require ! 
own] to submit to ! ,secret>y a plan t  
id5tifies f9anc+ s\rces & a timetable = 
r5ovations & improvem5ts det]m9$ to be  
necess>y by ! ,secret>y to ma9ta9 &     
pres]ve ! project4  7,b7 ,automatic     
approval ,if a plan submitt$ "u         
subp>agraph 7,a7 is n act$ ^u by !      
,secret>y )9 #cj days ( ! submission1 ! 

r5tal assi/ance contract is             
automatically approv$ = n m ?an a #a-ye>
 p]iod4  7g7 ,multifamily h\s+ transf]  
te*nical assi/ance ,"u ! program "u ?is 
section1 ! ,secret>y may provide grants 
to qualifi$ nonpr(it organizations &    
public h\s+ ag5cies to provide te*nical 
assi/ance1 includ+ f9ancial & legal     
s]vices1 to borr[]s "u loans "u ?is     
title = multifamily h\s+ to facilitate !
 acquisition ( su* multifamily h\s+     
prop]ties 9 areas :]e ! ,secret>y       
det]m9es !re is a risk ( loss ( af=dable
 h\s+4  7h7 ,transf] ( r5tal assi/ance  
,aft] ! loan or loans = a r5tal project 
orig9ally f9anc$ "u section #eae or bo? 
sections #ead & #eaf h matur$ or h be5  
prepaid & ! own] has *os5 n to          
re/ructure ! loan pursuant to subsection
 7c7-- 7#a7 a t5ant resid+ 9 ! project  
%all h #ah mon?s be=e loan maturation or
 prepaym5t to transf] ! r5tal assi/ance 
assign$ to ! unit ( ! t5ant to ano!r    
r5tal project orig9ally f9anc$ "u       
section #eae or bo? sections #ead &     

#eaf1 & su* t5ants w h priority =       
admission ov] o!r applicants2 &  7#b7 ! 
own] ( ! initial project may r5t !      
previ\s unit ( ! t5ant to a new t5ant   
)\t income re/rictions4  7i7            
,adm9i/rative exp5ses ,( any am\nts made
 available = ! program "u ?is section = 
any fiscal ye>1 ! ,secret>y may use n m 
?an #a1jjj1jjj = adm9i/rative exp5ses = 
c>ry+ out su* program4  7j7             
,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$ = ! program  
"u ?is section #bjj1jjj1jjj = ea* (     
fiscal ye>s #bjbd ?r\gh #bjbh4  7k7     
,rulemak+  7#a7 ,9 g5]al ,n lat] ?an    
#ahj days aft] ! date ( enactm5t ( !    
,rural ,h\s+ ,s]vice ,re=m ,act ( #bjbc1
 ! ,secret>y %all-- 7,a7 publi% an      
advance notice ( propos$ rulemak+2 &    
7,b7 consult ) appropriate /akehold]s4  
7#b7 ,int]im f9al rule ,n lat] ?an #a   
ye> aft] ! date ( enactm5t ( ! ,rural   
,h\s+ ,s]vice ,re=m ,act ( #bjbc1 !     
,secret>y %all publi% an int]im f9al    
rule to c>ry out ?is section4  4  #bjb4 

,eligibility = rural h\s+ v\*]s ,section
 #edb ( ! ,h\s+ ,act ( #aidi 7#db       
,u4,s4,c4 #adijr7 is am5d$ by add+ at ! 
end ! foll[+3  7c7 ,eligibility (       
h\seholds 9 sections #ead1 #eae1 & #eaf 
projects  7#a7 ,9 g5]al ,! ,secret>y may
 provide rural h\s+ v\*]s "u ?is section
 = any l[-income h\sehold 7includ+ ^? n 
receiv+ r5tal assi/ance7 resid+-- 7,a7 =
 a t]m long] ?an ! rema9+ t]m ( _! lease
 9 effect j prior to prepaym5t1 9 a     
prop]ty f9anc$ ) a loan made or insur$  
"u section #ead or #eae t has-- 7i7 be5 
prepaid )\t re/rictions impos$ by !     
,secret>y pursuant to section           
#ejb7;c77#e77;,g77ii77,i72  7ii7 be5    
=eclos$2 or  7iii7 matur$ aft] ,septemb]
 #cj1 #bjje2 or  7,b7 9 a prop]ty assi/$
 "u section #ead or #eaf4  7#b7         
,priority ,! ,secret>y %all prioritize !
 provision ( r5tal h\s+ v\*]s "u ?is    
section = projects own$ by nonpr(it     
organizations & _! affiliates or public 
ag5cies4  4  #bjc4 ,am\nt ( v\*]        
assi/ance ,not)/&+ any o!r provision (  

law1 9 ! case ( any rural h\s+ v\*]     
provid$ pursuant to section #edb ( !    
,h\s+ ,act ( #aidi 7#db ,u4,s4,c4       
#adijr71 ! am\nt ( ! mon?ly assi/ance   
paym5t = ! h\sehold on ^: behalf !      
assi/ance is provid$ %all be det]m9$ z  
provid$ 9 subsection 7a7 ( su* section  
#edb4  #bjd4 ,r5tal assi/ance contract  
au?ority ,section #eba7;d7 ( ! ,h\s+    
,act ( #aidi 7#db ,u4,s4,c4 #adij;a7d77 
is am5d$-- 7#a7 9 p>agraph 7#a7-- 7,a7  
by r$esignat+ subp>agraphs 7,b7 & 7,c7 z
 subp>agraphs 7,c7 & 7,d71 respectively2
  7,b7 by ins]t+ aft] subp>agraph 7,a7 !
 foll[+3  7,b7 ^u reque/ ( an own] ( a  
project f9anc$ "u section #ead or #eae1 
! ,secret>y is au?oriz$ to ent] into    
r5ewal ( su* agreem5ts = a p]iod ( #bj  
ye>s or ! t]m ( ! loan1 :i*ev] is %ort]1
 subject to am\nts made available 9     
appropriations ,acts2  2 &  7,c7 9      
subp>agraph 7,c71 z s r$esignat$1 by    
/rik+ subp>agraph 7,a7 & ins]t+         
subp>agraphs 7,a7 & 7,b72 &  7,d7 9     
subp>agraph 7,d71 z s r$esignat$1 by    

/rik+ subp>agraphs 7,a7 & 7,b7 & ins]t+ 
subp>agraphs 7,a71 7,b71 & 7,c72 &  7#b7
 by add+ at ! end ! foll[+3  7#c7 ,9 !  
case ( any r5tal assi/ance contract     
au?ority t becomes available because ( !
 t]m9ation ( assi/ance on behalf ( an   
assi/$ family-- 7,a7 at ! option ( !    
own] ( ! r5tal project1 ! ,secret>y %all
 provide ! own] a p]iod ( #f mon?s be=e 
unus$ assi/ance is made available       
pursuant to subp>agraph 7,b7 dur+ :i* ! 
own] may use su* assi/ance au?ority to  
provide assi/ance ( behalf ( an eligible
 unassi/$ family t-- 7i7 is resid+ 9 !  
same r5tal project t ! assi/$ family    
resid$ be=e ! t]m9ation2 or  7ii7 newly 
occupies a dwell+ unit 9 ! r5tal project
 dur+ t #f-mon? p]iod2 &  7,b7 except = 
assi/ance us$ z provid$ 9 subp>agraph   
7,a71 ! ,secret>y %all use su* rema9+   
au?ority to provide assi/ance on behalf 
( eligible families resid+ 9 o!r r5tal  
projects orig9ally f9anc$ "u section    
#eae or bo? sections #ead & #eaf4  4    
#bje4 ,fund+ = multifamily te*nical     

improvem5ts  7a7 ,au?orization (        
appropriations ,!re is au?oriz$ to be   
appropriat$ to ! ,secret>y (            
,agriculture su* sums z may be necess>y 
= fiscal ye> #bjbd = improv+ ! te*nology
 ( ! ,dep>tm5t ( ,agriculture us$ to    
process loans = multifamily h\s+ &      
o!rwise manag+ t h\s+4  7b7 ,timel9e ,! 
improvem5ts requir$ "u subsection 7a7   
%all be made )9 ! #e-ye> p]iod beg9n+ ^u
 ! appropriation ( am\nts "u subsection 
7a71 & ^? am\nts %all rema9 available   
until ! expiration ( t #e-ye> p]iod4    
,,iii ,native ,,cdfi rel5d+  #cja4      
,native ,,cdfi rel5d+ program ,section  
#ejb ( ! ,h\s+ ,act ( #aidi 7#db        
,u4,s4,c4 #adgb7 is am5d$ by add+ at !  
end ! foll[+3  7j7 ,set aside = native  
community developm5t f9ancial           
in/itutions  7#a7 ,def9itions ,9 ?is    
subsection-- 7,a7 ! t]m ,alaska ,native 
has ! mean+ giv5 ! t]m ,native 9 section
 #c7;b7 ( ! ,alaska ,native ,claims     
,settlem5t ,act 7#dc ,u4,s4,c4          
#afjb7;b772  7,b7 ! t]m appropriate     

congressional committees means-- 7i7 !  
,committee on ,agriculture ( ! ,s5ate2  
7ii7 ! ,committee on ,indian ,affairs ( 
! ,s5ate2  7iii7 ! ,committee on ,bank+1
 ,h\s+1 & ,urban ,affairs ( ! ,s5ate2   
7iv7 ! ,committee on ,agriculture ( !   
,h\se ( ,repres5tatives2  7v7 !         
,committee on ,natural ,res\rces ( !    
,h\se ( ,repres5tatives2 &  7vi7 !      
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives2  7,c7 ! t]m    
community developm5t f9ancial in/itution
 has ! mean+ giv5 ! t]m 9 section #ajc (
 ! ,community ,developm5t ,bank+ &      
,f9ancial ,in/itutions ,act ( #aiid 7#ab
 ,u4,s4,c4 #dgjb72  7,d7 ! t]m ,indian  
,tribe has ! mean+ giv5 ! t]m ,indian   
tribe 9 section #d ( ! ,native ,am]ican 
,h\s+ ,assi/ance & ,self-,det]m9ation   
,act ( #aiif 7#be ,u4,s4,c4 #dajc72     
7,e7 ! t]m ,native community developm5t 
f9ancial in/itution means an entity--   
7i7 t has be5 c]tifi$ z a community     
developm5t f9ancial in/itution by !     
,secret>y ( ! ,treasury2  7ii7 t is n   

less ?an #ej p]c5t own$ or controll$ by 
memb]s ( ,indian ,tribes1 ,alaska       
,native communities1 or ,native         
,hawaiian communities2 &  7iii7 = :i* n 
less ?an #ej p]c5t ( ! activities ( !   
entity s]ve ,indian ,tribes1 ,alaska    
,native communities1 or ,native         
,hawaiian communities2  7,f7 ! t]m      
,native ,hawaiian has ! mean+ giv5 ! t]m
 9 section #hja ( ! ,native ,am]ican    
,h\s+ ,assi/ance & ,self-,det]m9ation   
,act ( #aiif 7#be ,u4,s4,c4 #dbba72 &   
7,g7 ! t]m priority ,tribal l& means--  
7i7 any l& locat$ )9 ! b\nd>ies (-- 7,i7
 an ,indian res]vation1 pueblo1 or      
ran*]ia2 or  7,,ii7 a =m] res]vation )9 
,oklahoma2  7ii7 any l& n locat$ )9 !   
b\nd>ies ( an ,indian res]vation1       
pueblo1 or ran*]ia1 ! title to :i* is   
held-- 7,i7 9 tru/ by ! ,unit$ ,/ates = 
! b5efit ( an ,indian ,tribe or an      
individual ,indian2  7,,ii7 by an       
,indian ,tribe or an individual ,indian1
 subject to re/riction aga9/ ali5ation  
"u laws ( ! ,unit$ ,/ates2 or  7,,iii7  

by a dep5d5t ,indian community2  7iii7  
any l& locat$ )9 a region e/abli%$      
pursuant to section #g7;a7 ( ! ,alaska  
,native ,claims ,settlem5t ,act 7#dc    
,u4,s4,c4 #afjf7;a772  7iv7 ,hawaiian   
,home ,l&s1 z def9$ 9 section #hja ( !  
,native ,am]ican ,h\s+ ,assi/ance &     
,self-,det]m9ation ,act ( #aiif 7#be    
,u4,s4,c4 #dbba72 or  7v7 ^? areas or   
communities designat$ by ! ,assi/ant    
,secret>y ( ,indian ,affairs ( !        
,dep>tm5t ( ! ,int]ior t are ne>1       
adjac5t1 or contigu\s to res]vations :]e
 f9ancial assi/ance & social s]vice     
programs are provid$ to ,indians because
 ( _! /atus z ,indians4  7#b7 ,purpose  
,! purpose ( ?is subsection is to-- 7,a7
 increase home[n]%ip opportunities =    
,indian ,tribes1 ,alaska ,native        
,communities1 & ,native ,hawaiian       
communities 9 rural areas2 &  7,b7      
provide capital to ,native community    
developm5t f9ancial in/itutions to      
increase ! numb] ( mortgage transactions
 c>ri$ out by ^? in/itutions4  7#c7 ,set

 aside = ,native ,c,d,f,is ,( am\nts    
appropriat$ to make direct loans "u ?is 
section = ea* fiscal ye>1 ! ,secret>y   
%all use #ej1jjj1jjj to make direct     
loans to ,native community developm5t   
f9ancial in/itutions 9 accordance ) ?is 
subsection4  7#d7 ,application          
requirem5ts ,a ,native community        
developm5t f9ancial in/itution desir+ a 
loan "u ?is subsection %all demon/rate t
 ! in/itution-- 7,a7 c provide !        
non-,f$]al co/ %>e requir$ "u p>agraph  
7#f72 &  7,b7 is able to orig9ate &     
s]vice loans = s+le family homes4  7#e7 
,l5d+ requirem5ts ,a ,native community  
developm5t f9ancial in/itution t        
receives a loan pursuant to ?is         
subsection %all-- 7,a7 use ^? am\nts to 
make loans to borr[]s-- 7i7 :o o!rwise  
meet ! requirem5ts = a loan "u ?is      
section2 &  7ii7 :o-- 7,i7 are memb]s ( 
an ,indian ,tribe1 an ,alaska ,native   
community1 or a ,native ,hawaiian       
community2 or  7,,ii7 ma9ta9 a h\sehold 
9 :i* n less #a memb] is a memb] ( an   

,indian ,tribe1 an ,alaska ,native      
community1 or a ,native ,hawaiian       
community2 &  7,b7 9 mak+ loans "u      
subp>agraph 7,a71 give priority to      
borr[]s describ$ 9 t subp>agraph :o are 
resid+ on priority ,tribal l&4  7#f7    
,non-,f$]al co/ %>e  7,a7 ,9 g5]al ,a   
,native community developm5t f9ancial   
in/itution t receives a loan "u ?is     
section %all be requir$ to mat* n less  
?an #bj p]c5t ( ! am\nt receiv$4  7,b7  
,waiv] ,9 ! case ( a loan = :i* am\nts  
are us$ to make loans to borr[]s        
describ$ 9 p>agraph 7#e77;,b71 !        
,secret>y %all waive ! non-,f$]al co/   
%>e requirem5t describ$ 9 subp>agraph   
7,a7 ) respect to ^? loan am\nts4  7#g7 
,report+  7,a7 ,annual report by ,native
 ,c,d,f,is ,ea* ,native community       
developm5t f9ancial in/itution t        
receives a loan pursuant to ?is         
subsection %all submit an annual report 
to ! ,secret>y on ! l5d+ activities ( ! 
in/itution us+ ! loan am\nts1 :i* %all  
include-- 7i7 a description ( ! outrea* 

ef=ts ( ! in/itution 9 local communities
 to id5tify eligible borr[]s2  7ii7 a   
description ( h[ ! in/itution lev]ag$   
additional capital to rea* prospective  
borr[]s2  7iii7 ! numb] ( loan          
applications receiv$1 approv$1 &        
deploy$2  7iv7 ! av]age loan am\nt2  7v7
 ! numb] ( f9aliz$ loans t 7 made on    
,tribal tru/ l&s & n on ,tribal tru/    
l&s2 &  7vi7 ! numb] ( f9aliz$ loans t 7
 made on priority ,tribal l& & n        
priority ,tribal l&4  7,b7 ,annual      
report to ,congress ,n lat] ?an #a ye>  
aft] ! date ( enactm5t ( ?is subsection1
 & e ye> !reaft]1 ! ,secret>y %all      
submit to ! appropriate congressional   
communities a report t includes-- 7i7 a 
li/ ( loans made to ,native community   
developm5t f9ancial in/itutions pursuant
 to ?is subsection1 includ+ ! "n ( !    
in/itution & ! loan am\nt2  7ii7 !      
p]c5tage ( loans made "u ?is section to 
memb]s ( ,indian ,tribes1 ,alaska       
,native communities1 & ,native ,hawaiian
 communities1 respectively1 includ+ a   

breakd[n ( loans made to h\seholds      
resid+ on & n on ,tribal tru/ l&s2 &    
7iii7 ! av]age loan am\nt made by       
,native community developm5t f9ancial   
in/itutions pursuant to ?is subsection4 
7,c7 ,evaluation ( program ,n lat] ?an  
#c ye>s aft] ! date ( enactm5t ( ?is    
subsection1 ! ,secret>y & ! ,secret>y ( 
! ,treasury %all conduct an evaluation (
 & submit to ! appropriate congressional
 committees a report on ! program "u ?is
 subsection1 :i* %all-- 7i7 evaluate !  
effectiv5ess ( ! program1 includ+ an    
evaluation ( ! dem& = loans "u !        
program2 &  7ii7 include recomm5dations 
relat+ to ! program1 includ+ :e!r-- 7,i7
 ! program %\ld be exp&$ to su* t all   
community developm5t f9ancial           
in/itutions may make loans "u ! program 
to ! borr[]s describ$ 9 p>agraph 7#e72 &
  7,,ii7 ! set aside am\nt p>agraph 7#c7
 %\ld be modifi$ 9 ord] to mat* dem& "u 
! program4  7#h7 ,grants = op]ational   
support  7,a7 ,9 g5]al ,! ,secret>y %all
 make grants to ,native community       

developm5t f9ancial in/itutions t       
receive a loan "u ?is section to provide
 op]ational support & o!r relat$ s]vices
 to ^? in/itutions1 subject to-- 7i7 to 
! satisfactory p]=mance1 z det]m9$ by ! 
,secret>y1 ( a ,native community        
developm5t f9ancial in/itution 9 c>ry+  
out ?is section2 &  7ii7 ! availability 
( fund+4  7,b7 ,am\nt ,a ,native        
community developm5t f9ancial in/itution
 t receives a loan "u ?is section %all  
be eligible to receive an annual grant  
describ$ 9 subp>agraph 7,a7 9 an am\nt  
equal to n less ?an #bj p]c5t & n m ?an 
#be p]c5t ( ! total out/&+ balance (    
loans made by ! ,native community       
developm5t f9ancial in/itution "u !     
program "u ?is section z ( ! date on :i*
 ! grant is aw>d$4  7#i7 ,outrea* &     
te*nical assi/ance ,!re is au?oriz$ to  
be appropriat$ to ! ,secret>y #a1jjj1jjj
 = ea* ( fiscal ye>s #bjbd1 #bjbe1 &    
#bjbf-- 7,a7 to provide te*nical        
assi/ance to ,native community          
developm5t f9ancial in/itutions-- 7i7   

relat+ to home[n]%ip & o!r h\s+-relat$  
assi/ance provid$ by ! ,secret>y2 &     
7ii7 to assi/ ^? in/itutions to p]=m    
outrea* to eligible homebuy]s relat+ to 
! loan program "u ?is section2 or  7,b7 
to provide fund+ to a national          
organization repres5t+ ,native ,am]ican 
h\s+ int]e/s to p]=m outrea* & provide  
te*nical assi/ance z describ$ 9 clauses 
7i7 & 7ii71 respectively1 ( subp>agraph 
7,a74  4  ,,iv ,section #ejd loans &    
grants  #dja4 ,modifications to loans & 
grants = m9or improvem5ts to f>m h\s+ & 
build+s ,section #ejd7;a7 ( ! ,h\s+ ,act
 ( #aidi 7#db ,u4,s4,c4 #adgd7 is am5d$ 
by /rik+ #g1ejj & ins]t+ #ae1jjj4  ,v   
,rural community developm5t initiative  
grants  #eja4 ,rural ,community         
,developm5t ,initiative ,subtitle ,e ( !
 ,consolidat$ ,f>m & ,rural ,developm5t 
,act 7#g ,u4,s4,c4 #bjji et seq47 is    
am5d$ by add+ at ! end ! foll[+3        
#cha,o4 ,rural ,community ,developm5t   
,initiative  7a7 ,def9itions ,9 ?is     
section3 7#a7 ,eligible entity ,! t]m   

eligible entity means-- 7,a7 a private1 
nonpr(it community-bas$ h\s+ or         
community developm5t organization2  7,b7
 a l[-income rural community2 or  7,c7 a
 f$]ally recogniz$ ,indian ,tribe4  7#b7
 ,eligible int]m$i>y ,! t]m eligible    
int]m$i>y means a qualifi$-- 7,a7       
private1 nonpr(it organization2 or  7,b7
 public organization4  7b7 ,e/abli%m5t  
,! ,secret>y %all e/abli% a ,rural      
,community ,developm5t ,initiative1 "u  
:i* ! ,secret>y %all provide grants to  
eligible int]m$i>ies to c>ry out        
programs to provide f9ancial & te*nical 
assi/ance to eligible entities to       
develop ! capacity & ability ( eligible 
entities to c>ry out projects to improve
 h\s+1 community facilities1 & community
 & economic developm5t projects 9 rural 
areas4  7c7 ,am\nt ( grants ,! am\nt ( a
 grant provid$ to an eligible int]m$i>y 
"u ?is section %all be n m ?an #bej1jjj4
  7d7 ,mat*+ funds  7#a7 ,9 g5]al ,an   
eligible int]m$i>y receiv+ a grant "u   
?is section %all provide mat*+ funds f  

o!r s\rces1 includ+ ,f$]al funds =      
relat$ activities1 9 an am\nt n less ?an
 ! am\nt ( ! grant4  7#b7 ,waiv] ,!     
,secret>y may waive p>agraph 7#a7 )     
respect to a project t w\ld be c>ri$ out
 9 a p]si/5tly poor rural region1 z     
det]m9$ by ! ,secret>y4  4  ,,vi ,annual
 report  #fja4 ,annual report on rural  
h\s+ programs ,title ,v ( ! ,h\s+ ,act (
 #aidi 7#db ,u4,s4,c4 #adga et seq471 z 
am5d$ by ?is ,act1 is am5d$ by add+ at !
 end ! foll[+  #edf4 ,annual report ,!  
,secret>y %all submit to ! appropriate  
committees ( ,congress & publi% on !    
website ( ! ,dep>tm5t ( ,agriculture an 
annual report on rural h\s+ programs    
c>ri$ out "u ?is title1 :i* %all include
 significant details on ! heal? ( ,rural
 ,h\s+ ,s]vice programs1 includ+-- 7#a7 
raw data sortable by s]vices & by region
 reg>d+ loan p]=mance2  7#b7 ! h\s+ /ock
 ( ^? programs1 includ+ in=mation on :y 
prop]ties end p>ticipation 9 ^?         
programs1 su* z = maturation1 prepaym5t1
 =eclosure1 or o!r s]vic+ issues2 &     

7#c7 risk rat+s = prop]ties assi/$ "u ^?
 programs4  4  ,,vii ,rural h\s+ v\*]   
program  #gja4 ,adju/m5t to rural       
developm5t v\*] am\nt  7a7 ,9 g5]al ,n  
lat] ?an #b ye>s aft] ! date ( enactm5t 
( ?is ,act1 ! ,secret>y ( ,agriculture  
%all issue regulations to e/abli% a     
process = adju/+ ! v\*] am\nt provid$ "u
 section #edb ( ! ,h\s+ ,act ( #aidi    
7#db ,u4,s4,c4 #adijr7 aft] ! issuance (
 ! v\*] foll[+ an int]im or annual      
review ( ! am\nt ( ! v\*]4  7b7 ,int]im 
review ,! int]im review describ$ 9      
subsection 7a7 %all1 at ! reque/ ( a    
t5ant1 all[ = a recalculation ( ! v\*]  
am\nt :5 ! t5ant exp]i5ces a r$uction 9 
income or *ange 9 family composition4   
7c7 ,annual review  7#a7 ,9 g5]al ,!    
annual review describ$ 9 subsection 7a7 
%all require t5ants to annually rec]tify
 ! family composition ( ! h\sehold & t !
 family income ( ! h\sehold does n exce$
 #hj p]c5t ( ! area m$ian income at a "t
 det]m9$ by ! ,secret>y4  7#b7          
,consid]ations ,if a t5ant does n       

rec]tify ! family composition & family  
income ( ! h\sehold )9 ! timeframe      
requir$ "u p>agraph 7#a71 ! ,secret>y ( 
,agriculture-- 7,a7 %all consid] :e!r   
ext5uat+ circum/ances caus$ ! delay 9   
rec]tification2 &  7,b7 may alt]        
associat$ consequ5ces = ! failure to    
rec]tify bas$ on ^? circum/ances4  7#c7 
,effective date ,foll[+ ! annual review 
( a v\*] "u subsection 7a71 ! updat$    
v\*] am\nt %all be effective on ! #a/   
day ( ! mon? foll[+ ! expiration ( !    
v\*]4  7d7 ,deadl9e ,! process e/abli%$ 
"u subsection 7a7 %all require !        
,secret>y ( ,agriculture to review &    
update ! v\*] am\nt describ$ 9          
subsection 7a7 = a t5ant n lat] ?an #fj 
days be=e ! end ( ! v\*] t]m4  ,,viii   
,transf]s to nonpr(it organizations     
#hja4 ,transf] ( eld]ly rural h\s+      
projects ,section #eae ( ! ,h\s+ ,act ( 
#aidi 7#db ,u4,s4,c4 #adhe7 is am5d$--  
7#a7 9 subsection 7h71 by add+ at ! end 
! foll[+3  7#c7 ,transf] to nonpr(it    
organizations ,a nonpr(it or public body

 pur*as]1 includ+ a limit$ p>tn]%ip ) a 
nonpr(it controll$ g5]al p>tn]1 may     
pur*ase a prop]ty = :i* a loan is made  
or insur$ "u ?is section t has receiv$ a
 m>ket value appraisal1 )\t address+    
rehabilitation ne$s at ! "t ( pur*ase1  
if ! pur*as]-- 7,a7 makes a commitm5t to
 address rehabilitation ne$s dur+       
own]%ip & long-t]m use re/rictions on ! 
prop]ty2 &  7,b7 at ! "t ( pur*ase1     
accepts long-t]m use re/rictions on !   
prop]ty4  2 &  7#b7 9 subsection        
7w77#a71 9 ! fir/ s5t5ce 9 ! matt]      
prec$+ subp>agraph 7,a71 by /rik+ #i    
p]c5t & ins]t+ #ej p]c5t4  ,,ix ,t]m (  
direct loans made by ! ,rural ,h\s+     
,s]vice  #ija4 ,ext5sion ( loan t]m  7a7
 ,9 g5]al ,section #ejb7;a77#b7 ( !     
,h\s+ ,act ( #aidi 7#db ,u4,s4,c4       
#adgb7;a77#b77 is am5d$ to read z       
foll[s3  7#b7 ,! ,secret>y may ext5d !  
p]iod ( any loan made "u ?is section = a
 total t]m ( n m ?an #dj ye>s4  4  7b7  
,application ,! am5dm5t made "u         
subsection 7a7 %all apply ) respect to  

loans made "u section #ejb ( ! ,h\s+    
,act ( #aidi 7#db ,u4,s4,c4 #adgb7 be=e1
 on1 or aft] ! date ( enactm5t ( ?is    
,act4