,,ii #aah? ,,congress #b;d ,session ,s4 #cibh ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,m>* #ab1 #bjbd,mr4 ,br[n introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ,a ,,bill ,to increase ! supply ( af=dable homes & exp& h\s+ options4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,h\s+ ,supply ,fund ,act ( #bjbd4 #b4 ,h\s+ ,supply ,fund 7a7 ,def9itions ,9 ?is section3 7#a7 ,,cdfi ,fund ,! t]m ,,cdfi ,fund means ! ,community ,developm5t ,f9ancial ,in/itutions ,fund e/abli%$ "u section #ajd7;a7 ( ! ,community ,developm5t ,bank+ & ,f9ancial ,in/itutions ,act ( #aiid 7#ab ,u4,s4,c4 #dgjc7;a774 7#b7 ,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 ( #aiid 7#ab ,u4,s4,c4 #dgjb74 7#c7 ,eligible grantee ,! t]m eligible grantee means-- 7,a7 a community developm5t f9ancial in/itution c]tifi$ by ! ,,cdfi ,fund2 7,b7 a nonpr(it organization hav+ z "o ( its pr9cipal purposes ! creation1 developm5t1 or pres]vation ( af=dable h\s+1 includ+ a subsidi>y ( a h\s+ f9ance ag5cy or public h\s+ ag5cy2 or 7,c7 a consortium ( entities describ$ 9 subp>agraphs 7,a7 & 7,b74 7#d7 ,public h\s+ ag5cy ,! t]m public h\s+ ag5cy has ! mean+ giv5 ! t]m 9 section #c7;b77#f7 ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;a7b77#f774 7#e7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ! ,treasury4 7b7 ,e/abli%m5t ,! ,secret>y %all e/abli% )9 ! ,,cdfi ,fund a ,h\s+ ,supply ,fund to make competitive grants to eligible grantees = ! purpose (-- 7#a7 increas+ inve/m5t 9 ! developm5t1 pres]vation1 rehabilitation1 f9anc+1 or pur*ase ( af=dable h\s+ prim>ily =-- 7,a7 l[-1 v l[-1 & extremely l[-income families :o are r5t]s2 & 7,b7 home[n]s ) incomes ( n m ?an #abj p]c5t ( ! area m$ian income2 & 7#b7 support+ inve/m5t 9 economic developm5t & community s]vice facilities relat$ to h\s+ describ$ 9 p>agraph 7#a74 7c7 ,eligible uses ,an eligible grantee may use am\nts aw>d$ f ! ,h\s+ ,supply ,fund "u ?is section = activities t %all-- 7#a7 be reasonably expect$ to result 9 eligible af=dable h\s+ activities t support or su/a9 af=dable h\s+ fund$ by a grant "u ?is section & capital f o!r public & private s\rces2 7#b7 be us$ = ! purposes describ$ 9 subsection 7b71 includ+ =-- 7,a7 provid+ loan loss res]ves2 7,b7 capitaliz+ a revolv+ loan fund2 7,c7 capitaliz+ an af=dable h\s+ fund = developm5t1 pres]vation1 rehabilitation1 or f9anc+ (1 or pur*ase ( prop]ty =1 af=dable h\s+ & relat$ economic developm5t activities1 includ+ community s]vice facilities2 7,d7 capitaliz+ an af=dable h\s+ mortgage fund to facilitate ! orig9ation ( mortgages to buy]s t may exp]i5ce significant b>ri]s to access+ af=dable mortgage cr$it1 includ+ mortgages hav+ l[ orig9al pr9cipal obligations2 7,e7 provid+ risk-%>+ loans2 7,f7 provid+ loan gu>antees2 & 7#c7 ?r\gh funds us$ = eligible uses describ$ 9 p>agraph 7#b71 facilitate eligible activities t fulfill ! purposes describ$ 9 subsection 7b71 includ+-- 7,a7 activities = ! acquisition & conv]sion ( exi/+ comm]cial prop]ties to af=dable h\s+ & relat$ economic developm5t & community s]vice facilities2 7,b7 activities to acquire resid5tial1 indu/rial1 or comm]cial prop]ty & l& = ! purpose ( ! pres]vation1 developm5t1 or rehabilitation ( af=dable h\s+1 includ+ activities to support ! creation1 pres]vation1 or rehabilitation ( resid5t-own$ manufactur$ h\s+ communities2 & 7,c7 mix$-use or transit-ori5t$ developm5t projects4 7d7 ,f$]al assi/ance ,= purposes ( ! application ( ,f$]al civil rights laws1 all assi/ance provid$ us+ am\nts 9 ! ,h\s+ ,supply ,fund %all be consid]$ ,f$]al f9ancial assi/ance4 7e7 ,applications 7#a7 ,9 g5]al ,an eligible grantee desir+ a grant "u ?is section %all submit to ! ,secret>y an application at su* "t1 9 su* mann]1 & conta9+ su* in=mation z ! ,secret>y may require4 7#b7 ,cont5t ( application ,9 addition to o!r in=mation z may be requir$ by ! ,secret>y "u p>agraph 7#a71 an application = a grant "u ?is section %all include a detail$ description (-- 7,a7 ! propos$ use ( grant funds2 & 7,b7 ! qualifications ( ! applicant to successfully adm9i/] a grant "u ?is section4 7#c7 ,geographic div]sity ,! ,secret>y %all seek to fund activities "u ?is section 9 geographically div]se areas1 includ+ urban1 suburban1 rural1 ,tribal1 & t]ritorial areas4 7f7 ,implem5tation ,! ,secret>y %all h ! au?ority to issue su* regulations z may be necess>y to c>ry out ?is section4 7g7 ,appropriation 7#a7 ,9 g5]al ,9 addition to am\nts o!rwise available1 !re is appropriat$1 out ( am\nts 9 ! ,treasury n o!rwise appropriat$1 = ea* ( fiscal ye>s #bjbd ?r\gh #bjbh1 #ejj1jjj1jjj to c>ry out ?is section4 7#b7 ,commitm5t = use deadl9e 7,a7 ,9 g5]al ,am\nts made available = grants "u ?is section %all be committ$ = use )9 #d ye>s ( ! date ( ! grant1 except t ! ,secret>y may waive or e/abli% an alt]native deadl9e z ne$$4 7,b7 ,recapture ,! ,secret>y %all recapture into ! ,h\s+ ,supply ,fund any am\nts n s us$ or committ$ = use "u subp>agraph 7,a7 to provide grants "u ?is section 9 a subsequ5t fund+ r\nd4 7#c7 ,adm9i/ration ,( ! total am\nt made available to c>ry out ?is section1 n m ?an #e p]c5t may be us$ = adm9i/rative exp5ses ( ! ,secret>y4 7#d7 ,em]g5cy designation 7,a7 ,9 g5]al ,! am\nts provid$ by ?is ,act are designat$ z an em]g5cy requirem5t pursuant to section #d7;g7 ( ! ,/atutory ,pay-,z-,y-,g ,act ( #bjaj 7#b ,u4,s4,c4 #icc7;g774 7,b7 ,designation 9 ,h\se & ,s5ate ,?is ,act is designat$ z be+ = an em]g5cy requirem5t pursuant to section #djja7;a77#a7 ( ,s4 ,con4 ,res4 #ad 7#aag? ,congress71 ! concurr5t resolution on ! budget = fiscal ye> #bjbb1 & section #a7;e7 ( ,h4 ,res4 #aaea 7#aag? ,congress71 z engross$ 9 ! ,h\se ( ,repres5tatives on ,june #h1 #bjbb4