,i #aai? ,,congress #a/ ,session ,h4 ,r4 #fcbh ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,novemb] #bh1 #bjbe,mr4 ,v9dman 7= himself & ,mr4 ,bresnahan7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,small ,bus9ess ,a ,,bill ,to require ! ,adm9i/rator ( ! ,small ,bus9ess ,adm9i/ration to c>ry out a pilot program = con/ruction or managem5t ( build-to-r5t multifamily h\s+1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,ma9 ,/reet ,home ,build]s ,act ( #bjbe4 #b4 ,pilot program = con/ruction or managem5t ( build-to-r5t multifamily h\s+ 7a7 ,9 g5]al ,! ,adm9i/rator %all c>ry out a pilot program to be kn[n z ! #eje ,pilot ,program to make loans to ,/ate developm5t companies 9 accordance ) title ,v ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fie et seq47 to provide assi/ance to cov]$ p]sons = projects to-- 7#a7 con/ruct1 refurbi%1 exp&1 or make improvem5ts to build-to-r5t multifamily h\s+2 & 7#b7 manage su* build-to-r5t multifamily h\s+4 7b7 ,consid]ation ,a cov]$ p]son t p>ticipates 9 ! #eje ,pilot ,program %all n be consid]$ to be a speculative bus9ess or a passive bus9ess 7z su* t]ms are def9$1 respectively1 9 section #abj4aaj ( title #ac1 ,code ( ,f$]al ,regulations74 7c7 ,requirem5ts ,a loan made "u ! #eje ,pilot ,program %all be made 9 ! same mann] & = ! same purposes z a loan made "u title ,v ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fie et seq471 except t a project to be fund$ "u ! #eje ,pilot ,program %all n be subject to-- 7#a7 ! requirem5ts ( section #eja7;d77#a7 ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fie7;d77#a77 or any o!r job creation requirem5ts2 or 7#b7 ! requirem5ts ( p>agraph 7#d7 or 7#e7 ( section #ejb ( su* ,act 7#ae ,u4,s4,c4 #fif7 or any o!r limitation on leas+ a project assi/$ "u ! #eje ,pilot ,program4 7d7 ,l5d] due dilig5ce ,a l5d] %all conduct appropriate due dilig5ce to ensure t a cov]$ p]son receiv+ assi/ance "u ! #eje ,pilot ,program-- 7#a7 w be ! end us] ( ! project = :i* ! cov]$ p]son seeks su* assi/ance2 7#b7 has a prov5 track record ( successfully con/ruct+ or manag+ build-to-r5t multifamily h\s+2 & 7#c7 has adequate assets to con/ruct or manage ! project = :i* ! cov]$ p]son seeks su* assi/ance4 7e7 ,use ( assi/ance ,a cov]$ p]son receiv+ assi/ance "u ! #eje ,pilot ,program %all ensure t-- 7#a7 ) respect to a project to con/ruct a new facility1 ! project creates at lea/ "o additional dwell+ unit ?an exi/$ be=e ! comm5cem5t ( su* project2 & 7#b7 ) respect to a project to acquire1 r5ovate1 or recon/ruct an exi/+ facility1 ! project creates at lea/ "o additional dwell+ unit ?an ! exi/+ facility4 7f7 ,fund+ 7#a7 ,9 g5]al ,subject to p>agraph 7#b71 am\nts appropriat$ to ! ,adm9i/rator ( ! ,small ,bus9ess ,adm9i/ration = loans "u title ,v ( ! ,small ,bus9ess ,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4 #fie et seq47 %all be us$ to c>ry out ! pilot program e/abli%$ by ?is section4 7#b7 ,limitation ,! ,adm9i/rator may use n m ?an ! foll[+ am\nts to c>ry out ! pilot program3 7,a7 ,= fiscal ye> #bjbf1 #a1jjj1jjj1jjj4 7,b7 ,= fiscal ye> #bjbg1 #b1jjj1jjj1jjj4 7,c7 ,= ea* ( fiscal ye>s #bjbh ?r\gh #bjcj1 #c1jjj1jjj1jjj4 7g7 ,t]m9ation ,! au?ority to c>ry out ! pilot program e/abli%$ by ?is section %all t]m9ate on ! date t is five ye>s aft] ! date ( ! enactm5t ( ?is ,act4 7h7 ,def9itions ,9 ?is ,act3 7#a7 ,build-to-r5t multifamily h\s+ ,! t]m build-to-r5t multifamily h\s+ means multifamily h\s+ con/ruct$ ) ! int5tion ( r5t+ or leas+ su* h\s+4 7#b7 ,cov]$ p]son ,! t]m cov]$ p]son means a small bus9ess conc]n 7z def9$ "u section #c ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb77 t-- 7,a7 con/ructs1 refurbi%es1 exp&s1 or makes improvem5ts to build-to-r5t multifamily h\s+2 & 7,b7 manages su* build-to-r5t multifamily h\s+4 7#c7 ,dwell+ unit ,! t]m dwell+ unit means a s+le unit ( resid5ce = a h\sehold ( "o or m p]sons4 7#d7 ,multifamily h\s+ ,! t]m multifamily h\s+ means a facility t conta9s m ?an "o dwell+ unit4