,,ii ,cal5d> ,no4 #cdc #aai? ,,congress #b;d ,session ,h4 ,r4 #ffdd ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,febru>y #aa1 #bjbf,receiv$ ,febru>y #bc1 #bjbf,read ! fir/ "t ,febru>y #bd1 #bjbf,read ! second "t & plac$ on ! cal5d> ,,an ,,act ,to increase ! supply ( h\s+ 9 ,am]ica1 & = o!r purposes4 #a4 ,%ort title2 table ( cont5ts 7a7 ,%ort title ,?is ,act may be cit$ z ! ,h\s+ = ! #ba/ ,c5tury ,act4 7b7 ,table ( cont5ts ,! table ( cont5ts = ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4,title ,i--,build+ ,sm>t] = ! #ba/ ,century,sec4 #aja4 ,h\s+ ,supply ,frameworks4,sec4 #ajb4 ,accel]at+ home build+ grant program4,sec4 #ajc4 ,f$]al guidel9es = po9t-access block build+s4,sec4 #ajd4 ,unlock+ ,h\s+ ,supply ,?r\gh ,/reaml9$ & ,mod]niz$ ,reviews4,sec4 #aje4 ,f$]al ,h\s+ ,ag5cy ,application ( ,environm5tal ,reviews4,sec4 #ajf4 ,multifamily loan limits4,sec4 #ajg4 ,,gao /udy on work=ce h\s+4,title ,,ii--,mod]niz+ ,local ,developm5t & ,rural ,h\s+ ,programs,sec4 #bja4 ,,home ,re=m4,sec4 #bjb4 ,community ,developm5t ,fund ,am5dm5ts4,sec4 #bjc4 ,grants = plann+ & implem5tation associat$ ) af=dable h\s+4,sec4 #bjd4 ,rural h\s+ s]vice program improvem5ts4,sec4 #bje4 ,*oice 9 ,af=dable ,h\s+4,title ,,iii--,exp&+ ,manufactur$ & ,af=dable ,h\s+ ,f9ance ,opportunities,sec4 #cja4 ,manufactur$ ,h\s+ ,innovations4,sec4 #cjb4 ,,fha small-doll> mortgages4,sec4 #cjc4 ,community inve/m5t & prosp]ity4,title ,,iv--,protect+ ,borr[]s & ,assi/$ ,families,sec4 #dja4 ,exclusion ( c]ta9 disability b5efits4,sec4 #djb4 ,milit>y s]vice "q4,sec4 #djc4 ,,hud-,,usda-,,va ,int]ag5cy ,coord9ation4,sec4 #djd4 ,family self-suffici5cy escr[ expansion pilot program4,sec4 #dje4 ,re=ms to h\s+ c\nsel+ & f9ancial lit]acy programs4,sec4 #djf4 ,e/abli%m5t ( eviction helpl9e4,sec4 #djg4 ,temp]ature ,s5sor pilot program4,sec4 #djh4 ,,gao /udies4,title ,v--,enhanc+ ,ov]sight ( ,h\s+ ,providers,sec4 #eja4 ,requirem5t to te/ify4,sec4 #ejb4 ,improv+ public h\s+ ag5cy acc\ntability4,title ,,vi--,/r5g!n+ ,community ,banks' ,role 9 ,housing,sec4 #fja4 ,community ,bank ,deposit ,access4,sec4 #fjb4 ,keep+ ,deposits ,local4,sec4 #fjc4 ,sup]visory ,modifications = ,appropriate ,risk-bas$ ,te/+4,sec4 #fjd4 ,tailor$ ,regulatory ,updates = ,sup]visory ,te/+4,sec4 #fje4 ,cr$it ,union ,bo>d ,mod]nization4,sec4 #fjf4 ,sy/emic ,risk ,au?ority ,transp>5cy4,sec4 #fjg4 ,lea/ co/ exception4,sec4 #fjh4 ,fail+ ,bank ,acquisition ,fairness4,sec4 #fji4 ,advanc+ ! ,m5tor-,protg ,program = ,small ,f9ancial ,in/itutions4,sec4 #faj4 ,am]ican ,access to ,bank+4,sec4 #faa4 ,promot+ ,new ,bank ,=mation4,sec4 #fab4 ,rural ,depositories ,revitalization ,/udy4,sec4 #fac4 ,discretion>y ,surplus ,fund4 ,i ,build+ ,sm>t] = ! #ba/ ,c5tury #aja4 ,h\s+ ,supply ,frameworks 7a7 ,def9itions ,9 ?is section3 7#a7 ,af=dable h\s+ ,! t]m af=dable h\s+ means h\s+ = :i* ! mon?ly paym5t is n m ?an #cj-p]c5t ( ! mon?ly income ( ! h\sehold4 7#b7 ,assi/ant ,secret>y ,! t]m ,assi/ant ,secret>y means ! ,assi/ant ,secret>y = ,policy ,developm5t & ,rese>* ( ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t4 7#c7 ,local zon+ framework ,! t]m local zon+ framework means ! local zon+ codes & o!r ord9ances1 proc$ures1 & policies gov]n+ zon+ & l&-use at ! local level4 7#d7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ,h\s+ & ,urban ,developm5t4 7#e7 ,/ate zon+ framework ,! t]m ,/ate zon+ framework means ! ,/ate legislation or ,/ate ag5cy & dep>tm5t proc$ures1 or su* legislation or proc$ures 9 an insul> area ( ! ,unit$ ,/ates1 enabl+ local plann+ & zon+ au?orities & e/abli%+ & guid+ relat$ policies & programs4 7b7 ,guidel9es on ,/ate & local zon+ frameworks 7#a7 ,9 g5]al ,n lat] ?an #c ye>s aft] ! date ( enactm5t ( ?is ,act1 ! ,assi/ant ,secret>y %all publi% docum5ts outl9+ guidel9es & be/ practices to support production ( adequate h\s+ to meet ! ne$s ( communities & provide h\s+ opportunities = individuals at e income level across communities ) respect to-- 7,a7 ,/ate zon+ frameworks2 & 7,b7 local zon+ frameworks4 7#b7 ,consultation2 public comm5t ,dur+ ! #b-ye> p]iod beg9n+ on ! date ( enactm5t ( ?is ,act1 9 develop+ ! guidel9es & be/ practices requir$ "u p>agraph 7#a71 ! ,assi/ant ,secret>y %all-- 7,a7 publi% draft guidel9es & be/ practices 9 ! ,f$]al ,regi/] = public comm5t2 & 7,b7 e/abli% a task =ce = ! purpose ( provid+ consultation to draft ! guidel9es & be/ practices publi%$ "u subp>agraph 7,a71 ! memb]s ( :i* %all include-- 7i7 urban plann]s & ar*itects2 7ii7 h\s+ develop]s1 includ+ af=dable & m>ket-rate h\s+ develop]s1 manufactur$ h\s+ develop]s1 coop]ative h\s+ develop]s1 & o!r bus9ess int]e/s2 7iii7 community engagem5t exp]ts & community memb]s impact$ by zon+ decisions2 7iv7 public h\s+ ag5cies & transit au?orities2 7v7 memb]s ( local zon+ & plann+ bo>ds & local & regional transportation plann+ organizations2 7vi7 ,/ate (ficials responsible = h\s+ or l& use1 includ+ memb]s ( ,/ate zon+ bo>ds ( appeals2 7vii7 academic rese>*]s2 & 7viii7 home build]s4 7#c7 ,cont5ts ,! guidel9es & be/ practices requir$ "u p>agraph 7#a7 %all-- 7,a7 ) respect to ,/ate zon+ frameworks1 outl9e pot5tial models = updat$ ,/ate enabl+ legislation or ,/ate ag5cy & dep>tm5t proc$ures2 7,b7 include recomm5dations reg>d+-- 7i7 ! r$uction or elim9ation ( p>k+ m9imums2 7ii7 ! increase 9 maximum floor area ratio requirem5ts & maximum build+ heights & ! r$uction 9 m9imum lot sizes & set-back requirem5ts2 7iii7 ! elim9ation ( re/rictions aga9/ accessory dwell+ units2 7iv7 increas+ by-"r uses1 includ+ duplex1 triplex1 or quadplex build+s1 across cities or metropolitan areas2 7v7 me*anisms1 includ+ proximity to transit1 to det]m9e ! appropriate scope = rezon+ & ensure developm5t t does n disproportionately burd5 resid5ts ( economically di/ress$ areas2 7vi7 provisions reg>d+ review ( by-"r developm5t proposals to /reaml9e review & r$uce unc]ta9ty1 includ+-- 7,i7 nondiscretion>y1 m9i/]ial review2 & 7,,ii7 entitlem5t & design review processes2 7vii7 ! r$uction ( ob/acles1 regulatory or o!rwise1 to a range ( h\s+ types at all levels ( af=dability1 includ+ manufactur$ & modul> h\s+2 7viii7 ,/ate model zon+ regulations = direct+ local re=ms1 includ+ me*anisms to enc\rage adoption2 7ix7 provisions to enc\rage transit-ori5t$ developm5t1 includ+ increas$ p]missible units p] /ructure & r$uc$ m9imum lot sizes ne> exi/+ or plann$ public transit /ations2 7x7 pot5tial re=ms to /r5g!n ! public engagem5t process2 7xi7 re=ms to prote/ petition /atutes2 7xii7 ! /&>dization1 r$uction1 or elim9ation ( impact fees2 7xiii7 co/-effective & appropriate build+ codes2 7xiv7 models = community b5efit agreem5ts2 7xv7 me*anisms to pres]ve af=dability1 limit disruption ( l[-income communities1 & prev5t displacem5t ( exi/+ resid5ts2 7xvi7 ) respect to ,/ate zon+ frameworks-- 7,i7 ,/ate model codes = direct+ local re=ms1 includ+ me*anisms to enc\rage adoption2 7,,ii7 a model = a ,/ate zon+ appeals process1 :i* w\ld-- 7aa7 create a process = develop]s or build]s reque/+ a v>iance1 conditional use1 special p]mit1 zon+ di/rict *ange1 simil> discretion>y p]mit1 or o!rwise petition+ a local zon+ or plann+ bo>d = a project includ+ a ,/ate-def9$ am\nt ( af=dable h\s+ to appeal a rejection to a ,/ate body or regional body emp[]$ by ! ,/ate2 & 7bb7 e/abli% qualifications = communities to be exempt$ f ! appeals process bas$ on _! available /ock ( af=dable h\s+2 & 7,,iii7 /reaml9+ ( ,/ate environm5tal review policies2 7xvii7 ) respect to local zon+ frameworks-- 7,i7 ! simplification & /&>dization ( exi/+ zon+ codes2 7,,ii7 maximum review timel9es2 7,,iii7 be/ practices = ! disposition ( l& own$ by local gov]nm5ts = af=dable h\s+ developm5t2 7,,iv7 diff]5tiations betwe5 be/ practices = rural1 suburban1 & urban communities1 & communities ) diff]5t levels ( d5sity or population di/ribution2 & 7,v7 /reaml9+ ( local environm5tal review policies2 & 7xviii7 o!r l& use measures t promote access to new h\s+ opportunities id5tifi$ by ! ,secret>y2 & 7,c7 consid]-- 7i7 ! effects ( adopt+ any recomm5dation on eligibility = ,f$]al discretion>y grants & tax cr$its = ! purpose ( h\s+ or community developm5t2 7ii7 coord9ation betwe5 infra/ructure inve/m5ts & h\s+ plann+2 7iii7 local h\s+ ne$s1 includ+ ways to set & measure h\s+ goals & t>gets2 7iv7 a range ( af=dability = r5tal units1 ) a prioritization ( units atta9able to extremely l[-1 l[-1 & mod]ate-income resid5ts2 7v7 a range ( af=dability = home[n]%ip2 7vi7 acc\ntability measures2 7vii7 ! long-t]m co/ to resid5ts & bus9esses if m h\s+ is n con/ruct$2 7viii7 b>ri]s to individuals seek+ to access af=dable h\s+ 9 gr[+ communities & communities ) economic opportunity2 7ix7 ) respect to ,/ate zon+ frameworks-- 7,i7 di/9ctions betwe5 ,/ates provid+ con/itutional or /atutory home rule au?ority to municipalities & ,/ates op]at+ "u ! ,dillon ,rule1 z articulat$ 9 ,hunt] v4 ,pittsburgh1 #bjg ,u4,s4 #afa 7#aijg72 & 7,,ii7 ,/atewide me*anisms to pres]ve exi/+ af=dability ov] ! long t]m1 includ+ support = l& banks & community l& tru/s2 7x7 public comm5ts elicit$ "u p>agraph 7#b77;,a72 & 7xi7 o!r consid]ations1 z id5tifi$ by ! ,assi/ant ,secret>y4 7c7 ,aboli%m5t ( ! regulatory b>ri]s cle>+h\se 7#a7 ,9 g5]al ,! ,regulatory ,b>ri]s ,cle>+h\se e/abli%$ pursuant to section #abje ( ! ,h\s+ & ,community ,developm5t ,act ( #aiib 7#db ,u4,s4,c4 #abgje;d7 is aboli%$4 7#b7 ,repeal ,section #abje ( ! ,h\s+ & ,community ,developm5t ,act ( #aiib 7#db ,u4,s4,c4 #abgje;d7 is repeal$4 7d7 ,report+ ,n lat] ?an #e ye>s aft] ! date on :i* ! ,assi/ant ,secret>y publi%es ! f9al guidel9es & be/ practices = ,/ate & local zon+ frameworks "u ?is section1 ! ,assi/ant ,secret>y %all submit to ! ,congress a report describ+-- 7#a7 ! ,/ates t h adopt$ recomm5dations f ! guidel9es & be/ practices1 pursuant to section #d ( ?is ,act2 7#b7 a summ>y ( ! localities t h adopt$ recomm5dations f ! guidel9es & be/ practices1 pursuant to section #d ( ?is ,act2 7#c7 a li/ ( ,/ates t adopt$ a ,/ate zon+ framework2 7#d7 a summ>y ( ! modifications t ea* ,/ate has made 9 _! ,/ate zon+ framework2 7#e7 a g5]al summ>y ( ! types ( updates localities h made to _! local zon+ framework2 7#f7 ) respect to ! ,/ates t h adopt$ a ,/ate zon+ framework or recomm5dations f ! guidel9es & be/ practices1 ! effect ( su* adoptions2 & 7#g7 a summ>y ( any recomm5dations t 7 r\t9ely n adopt$ by ,/ates or by localities4 7e7 ,rule ( con/ruction ,no?+ 9 ?is section may be con/ru$ to p]mit ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t to take an adv]se action aga9/ or fail to provide o!rwise (f]$ actions or s]vices = any ,/ate or locality if ! ,/ate or locality decl9es to adopt a guidel9e or be/ practice "u subsection 7c74 #ajb4 ,accel]at+ home build+ grant program 7a7 ,9 g5]al ,! ,secret>y may e/abli% a pilot program to aw>d grants to eligible entities to review designs ( cov]$ /ructures ( mix$-income h\s+ & designate su* review$ designs to be includ$ 9 patt]n books = use 9 ! jurisdiction ( ! eligible entity4 7b7 ,re/riction ,am\nts aw>d$ "u ?is section may n be us$ = con/ruction1 alt]ation1 or repair "w4 7c7 ,consid]ations ,9 review+ applications submitt$ by eligible entities = a grant "u ?is section1 ! ,secret>y %all consid]-- 7#a7 ! ne$ = af=dable h\s+ 9 ! eligible entity2 7#b7 ! pres5ce ( high opportunity areas 9 ! eligible entity2 7#c7 coord9ation betwe5 ! eligible entity & a ,/ate ag5cy2 & 7#d7 coord9ation betwe5 ! eligible entity & ,/ate1 local1 & regional transportation plann+ au?orities4 7d7 ,set-aside = rural areas ,( ! am\nts made available 9 ea* fiscal ye> = grants "u ?is section1 ! ,secret>y %all ensure t n less ?an #aj-p]c5t %all be us$ = grants to eligible entities t are locat$ 9 rural areas4 7e7 ,report requirem5t ,n lat] ?an #c ye>s aft] be+ aw>d$ a grant "u ?is section1 an eligible entity %all submit to ! ,secret>y a report t-- 7#a7 describes ! impacts ( ! activities c>ri$ out us+ ! am\nts provid$ "u ?is section on improv+ ! production & supply ( af=dable h\s+2 7#b7 includes a li/ ( any patt]n books ! eligible entity has e/abli%$ us+ am\nts provid$ "u ?is section1 includ+ a description ( ! designs su* patt]n book includes2 7#c7 id5tifies ! numb] ( p]mits issu$ by ! eligible entity = h\s+ developm5t us+ designs f su* patt]n book2 & 7#d7 id5tifies ! numb] ( h\s+ units produc$ 9 developm5ts ( ! eligible entity us+ a design f su* patt]n book4 7f7 ,availability ( in=mation ,! ,secret>y %all-- 7#a7 to ! ext5t possible1 enc\rage eligible entities aw>d$ grants "u ?is section to make any patt]n books e/abli%$ by su* entity1 & designs 9 su* patt]n book1 publicly available ?r\gh a website2 & 7#b7 collect1 id5tify1 & dissem9ate be/ practices relat+ to patt]n books & make su* in=mation publicly available on a website ( ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t4 7g7 ,repaym5t ( aw>d$ am\nts ,! ,secret>y may require an eligible entity to return1 to ! ,secret>y1 grant am\nts aw>d$ "u ?is section if ! ,secret>y det]m9es t ! eligible entity has n approv$ a suffici5t numb] ( build+ p]mits t use designs includ$ 9 a patt]n book e/abli%$ by ! eligible entity1 dur+ ! #e-ye> p]iod foll[+ receipt ( ! grant by ! eligible entity1 unless su* p]iod is ext5d$ by ! ,secret>y4 7h7 ,sunset ,! pilot program e/abli%$ "u ?is section %all t]m9ate on ! date t is #g ye>s aft] ! date ( ! enactm5t ( ?is section4 7i7 ,def9itions ,9 ?is section3 7#a7 ,af=dable h\s+ ,! t]m af=dable h\s+ means h\s+ = :i* ! total mon?ly h\s+ co/ paym5t is n m ?an #cj-p]c5t ( ! mon?ly h\sehold income = a h\sehold e>n+ n m ?an #hj-p]c5t ( ! area-m$ian income4 7#b7 ,cov]$ /ructure ,! t]m cov]$ /ructure means a l[-rise or mid-rise /ructure ) n m ?an #be dwell+ units t may include-- 7,a7 an accessory dwell+ unit2 7,b7 infill developm5t2 7,c7 a duplex2 7,d7 a triplex2 7,e7 a f\rplex2 7,f7 a cottage c\rt2 7,g7 a c\rty>d build+2 7,h7 a t[nh\se2 7,i7 a multiplex2 & 7,j7 any o!r /ructure ) n less ?an #b dwell+ units t ! ,secret>y has det]m9$ 9 advance to be appropriate4 7#c7 ,eligible entity ,! t]m eligible entity means-- 7,a7 a unit ( g5]al local gov]nm5t1 z def9$ 9 section #ajb7;a7 ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecjb7;a772 & 7,b7 an ,indian ,tribe1 z def9$ 9 section #ajb7;a7 ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecjb7;a774 7#d7 ,high opportunity area ,! t]m high opportunity area has ! mean+ giv5 ! t]m 9 section #abhb4a ( title #ab1 ,code ( ,f$]al ,regulations1 or any successor regulation4 7#e7 ,infill developm5t ,! t]m infill developm5t means a resid5tial h\s+ developm5t on small p>cels 9 previ\sly e/abli%$ areas = replacem5t by new or refurbi%$ h\s+ t utilizes exi/+ utilities & infra/ructure4 7#f7 ,mix$-income h\s+ ,! t]m mix$-income h\s+ means a h\s+ developm5t t is compris$ ( h\s+ units t promote diff]+ levels ( af=dability 9 ! community4 7#g7 ,patt]n book ,! t]m patt]n book means a set ( pre-review$1 designat$ designs or con/ruction plans t are assess$ & approv$ z by-"r developm5t by localities = compliance ) local build+ & p]mitt+ /&>ds to /reaml9e & exp$ite approval pa?ways = h\s+ con/ruction4 7#h7 ,rural area ,! t]m rural area means any area o!r ?an a city or t[n t has a population ( less ?an #ej1jjj inhabitants4 7#i7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ,h\s+ & ,urban ,developm5t4 #ajc4 ,f$]al guidel9es = po9t-access block build+s 7a7 ,9 g5]al ,n lat] ?an #ah mon?s aft] ! date ( enactm5t ( ?is section1 ! ,secret>y ( ,h\s+ & ,urban ,developm5t %all issue guidel9es to provide ,/ates1 t]ritories1 ,tribes1 & localities ) model code language1 be/ practices1 & te*nical guidance t c\ld be us$ to facilitate ! p]mitt+ ( po9t-access block resid5tial build+s4 7b7 ,cont5ts ,:5 develop+ ! guidel9es "u subsection 7a71 ! ,secret>y %all consid]-- 7#a7 fire safety consid]ations1 includ+ spr9kl] cov]age1 smoke detection1 v5tilation1 & build+ egress p]=mance2 7#b7 con/ruction co/s & pot5tial impacts on h\s+ af=dability1 includ+ ! pot5tial = increas+ h\s+ supply 9 high-co/ jurisdictions2 7#c7 flexibility = div]se consum] ne$s1 includ+ family sizes1 unit configurations1 & accessibility2 7#d7 examples ( s+le-/air codes adopt$ or consid]$ by ,/ates & cities 9 ! ,unit$ ,/ates2 7#e7 examples s+le-/air codes us$ 9 relevant int]national /&>ds2 7#f7 rese>* & model language relat+ to s+le-/air codes produc$ by organizations t focus on po9t-access block build+ design & build+-code re=m2 7#g7 consult+ ) exp]ts1 includ+ develop]s1 ar*itects1 fire m>%als1 rese>*]s1 economi/s1 h\s+ au?orities1 & (ficials 9 ,/ates t h enact$ or pilot$ s+le-/air codes2 & 7#h7 alt]native me?ods ( safety compliance1 includ+ options t utilize additional passive or active safety features4 7c7 ,coord9ation ) ! ,int]national ,code ,c\ncil ,! ,secret>y %all coord9ate ) ! ,int]national ,code ,c\ncil to enc\rage ! ,int]national ,code ,c\ncil to incorporate provisions ab\t po9t-access block build+s into ! ,int]national ,build+ ,code4 7d7 ,grants 7#a7 ,9 g5]al ,! ,secret>y may e/abli% a program to aw>d competitive grants to eligible entities to implem5t pilot projects t evaluate1 demon/rate1 or validate ! safety1 feasibility1 or co/-effectiv5ess ( po9t-access block resid5tial build+s4 7#b7 ,sunset ,! program e/abli%$ "u p>agraph 7#a7 %all t]m9ate on ! date t is #g ye>s aft] ! date ( ! enactm5t ( ?is subsection4 7e7 ,rule ( con/ruction ,no?+ 9 ?is section may be con/ru$ to preempt a ,/ate or local build+ code4 7f7 ,def9itions ,9 ?is section3 7#a7 ,eligible entity ,! t]m eligible entity means a ,/ate1 unit ( local gov]nm5t1 ,tribal ,gov]nm5t1 public h\s+ ag5cy1 nonpr(it h\s+ organization1 community developm5t organization1 private develop]1 con/ruction firm1 qualifi$ design firm1 eng9e]+ firm1 academic in/itution1 rese>* in/itution1 or any p>tn]%ip or consortium compris$ ( #b or m su* types ( entities4 7#b7 ,po9t-access block build+ ,! t]m po9t-access block build+ means a ,gr\p ,r-#b occupancy resid5tial /ructure1 z su* t]m is def9$ by ! ,int]national ,build+ ,code1 9 :i* a s+le int]nal /airway provides access & egress = all dwell+ units 9 a build+ t is n great] ?an #f /ories 9 height4 #ajd4 ,unlock+ ,h\s+ ,supply ,?r\gh ,/reaml9$ & ,mod]niz$ ,reviews 7a7 ,,nepa /reaml9+ = ,,hud h\s+-relat$ activities 7#a7 ,9 g5]al ,! ,secret>y ( ,h\s+ & ,urban ,developm5t %all1 9 accordance ) section #eec ( title #e1 ,unit$ ,/ates ,code1 exp& & reclassify h\s+-relat$ activities "u ! necess>y adm9i/rative regulations z foll[s3 7,a7 ,! foll[+ h\s+-relat$ activities %all be subject to regulations equival5t or sub/antially simil> to ! regulations entitl$ exempt activities z set =? 9 section #eh4cd ( title #bd1 ,code ( ,f$]al ,regulations1 z 9 effect on ,janu>y #a1 #bjbe3 7i7 ,t5ant-bas$ r5tal assi/ance1 z def9$ 9 section #h7o7 ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;f7o774 7ii7 ,supportive s]vices1 includ+ heal? c>e1 h\s+ s]vices1 p]man5t h\s+ placem5t1 day c>e1 nutritional s]vices1 %ort-t]m paym5t = r5t1 mortgage1 or utility co/s1 & assi/ance 9 ga9+ access to ,f$]al ,gov]nm5t & ,/ate & local gov]nm5t b5efits & s]vices4 7iii7 ,op]at+ co/s1 includ+ ma9t5ance1 security1 op]ation1 utilities1 furni%+s1 equipm5t1 supplies1 /aff tra9+1 & recruitm5t & o!r incid5tal co/s4 7iv7 ,economic developm5t activities1 includ+ equipm5t pur*ases1 inv5tory f9anc+1 int]e/ subsidies1 op]at+ exp5ses1 & simil> co/s n associat$ ) con/ruction or expansion ( exi/+ op]ations4 7v7 ,activities to assi/ homebuy]s to pur*ase exi/+ dwell+ units or dwell+ units "u con/ruction1 includ+ clos+ co/s & d[n paym5t assi/ance1 int]e/ rate buyd[ns1 & simil> activities t result 9 ! transf] ( title4 7vi7 ,af=dable h\s+ pr$evelopm5t co/s relat$ to obta9+ site options1 project f9anc+1 adm9i/rative co/s & fees = loan commitm5t1 zon+ approvals1 & o!r relat$ activities t d n h a physical impact4 7vii7 ,approval ( supplem5tal assi/ance1 includ+ insurance or gu>antee1 to a project previ\sly approv$ by ! ,secret>y4 7viii7 ,em]g5cy home[n] or r5t] assi/ance = ,,hvac1 hot wat] heat]s1 & o!r necess>y uses ( exi/+ utilities requir$ "u applicable law4 7,b7 ,! foll[+ h\s+-relat$ activities %all be subject to regulations equival5t or sub/antially simil> to ! regulations entitl$-- 7i7 categorical exclusions n subject to section #eh4e2 & 7ii7 categorical exclusions n subject to ! ,f$]al laws & au?orities cit$ 9 sections #ej4d 9 section #eh4ce7;b7 & section #ej4ai1 respectively ( title #bd1 ,code ( ,f$]al ,regulations1 z 9 effect on ,janu>y #a1 #bjbe1 if su* activities d n mat]ially alt] environm5tal conditions & d n mat]ially exce$ ! orig9al scope ( ! project3 7,i7 ,acquisition1 repair1 improvem5t1 recon/ruction1 or rehabilitation ( public facilities & improvem5ts 7o!r ?an build+s7 if ! facilities & improvem5ts are 9 place & w be reta9$ 9 ! same use )\t *ange 9 size or capacity ( m ?an #bj-p]c5t1 includ+ replacem5t ( wat] or sew] l9es1 recon/ruction ( curbs & sidewalks1 & repav+ ( /reets4 7,,ii7 ,rehabilitation ( #a-to-#d unit resid5tial build+s1 & exi/+ h\s+-relat$ infra/ructure1 su* z repairs or rehabilitation ( exi/+ wells1 septics1 or utility l9es t connect to t h\s+4 7,,iii7 ,new con/ruction1 developm5t1 demolition1 acquisition1 or disposition on up to #d scatt]$ site exi/+ dwell+ units :]e !re is a maximum ( #d units on any #a site4 7,,iv7 ,acquisitions 7includ+ leas+7 or disposition (1 or equity loans on an exi/+ /ructure1 or acquisition 7includ+ leas+7 ( vacant l& if ! /ructure or l& acquir$1 f9anc$1 or dispos$ ( w be reta9$ = ! same use4 7,c7 ,! foll[+ h\s+-relat$ activities %all be subject to regulations equival5t or sub/antially simil> to ! regulations entitl$-- 7i7 categorical exclusions subject to section #eh4e2 & 7ii7 categorical exclusions subject to ! ,f$]al laws & au?orities cit$ 9 sections #ej4d 9 section #eh4ce7;a7 & section #ej4bj1 respectively1 ( title #bd1 ,code ( ,f$]al ,regulations1 z 9 effect on ,janu>y #a1 #bjbe1 if su* activities d n mat]ially alt] environm5tal conditions & d n mat]ially exce$ ! orig9al scope ( ! project3 7,i7 ,acquisitions ( op5 space or resid5tial prop]ty1 :]e su* prop]ty w be reta9$ = ! same use or w be conv]t$ to op5 space to help resid5ts relocate out ( an area designat$ z a high-risk area by ! ,secret>y4 7,,ii7 ,conv]sion ( exi/+ (fice build+s into resid5tial developm5t1 subject to-- 7aa7 a maximum numb] ( units to be det]m9$ by ! ,secret>y2 & 7bb7 a limitation on ! *ange 9 build+ size to n m ?an #bj-p]c5t4 7,,iii7 ,new con/ruction1 developm5t1 demolition1 acquisition1 or disposition on #e to #ae dwell+ units :]e !re is a maximum ( #ae units on any #a site4 ,! units c be #ae #a-unit build+s or #a #ae-unit build+1 or any comb9ation 9 betwe54 7,,iv7 ,new con/ruction1 developm5t1 demolition1 acquisition1 or disposition on #ae or m h\s+ units develop$ on scatt]$ sites :5 !re are n m ?an #ae h\s+ units on any #a site1 & ! sites are m ?an a set numb] ( feet ap>t z det]m9$ by ! ,secret>y4 7,v7 ,rehabilitation ( build+s & improvem5ts 9 ! case ( a build+ = resid5tial use ) #e to #ae units1 if ! d5sity is n increas$ beyond #ae units & ! l& use is n *ang$4 7,,vi7 ,infill projects consi/+ ( new con/ruction1 rehabilitation1 or developm5t ( resid5tial h\s+ units4 7,,vii7 ,buy\ts1 def9$ z ! volunt>y acquisition ( prop]ties locat$ 9-- 7aa7 a floodway2 7bb7 a floodpla92 or 7cc7 an o!r area1 cle>ly del9eat$ by ! grantee1 t has be5 impact$ by a pr$ictable environm5tal ?reat to ! safety & wellbe+ ( program b5efici>ies caus$ or exac]bat$ by a f$]ally decl>$ disa/]4 7#b7 ,report ,! ,secret>y %all submit to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate & ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives annual reports dur+ ! #e-ye> p]iod beg9n+ on ! date t is #b ye>s aft] ! date ( enactm5t ( ?is ,act t provide a summ>y ( f9d+s ( r$uctions 9 review times & adm9i/rative co/ r$uction1 ) a p>ticul> focus on ! af=dable h\s+ sector1 z a result ( ! actions set =? 9 ?is subsection1 & any recomm5dations ( ! ,secret>y = future congressional action ) respect to revis+ categorical exclusions or exemptions "u title #bd1 ,code ( ,f$]al ,regulations4 7b7 ,bett] ,use ( ,int]gov]nm5tal & ,local ,developm5t = ,h\s+ 7#a7 ,designation ( environm5tal review proc$ure ,! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t ,act 7#db ,u4,s4,c4 #ceca et seq47 is am5d$ by ins]t+ aft] section #ab 7#db ,u4,s4,c4 #cecg;a7 ! foll[+3 #ac4 ,designation ( environm5tal review proc$ure 7a7 ,9 g5]al ,except z provid$ 9 subsection 7b71 ! ,secret>y may1 = purposes ( environm5tal review1 decision-mak+1 & action pursuant to ! ,national ,environm5tal ,policy ,act ( #aifi 7#db ,u4,s4,c4 #dcba et seq471 & o!r provisions ( law t fur!r ! purposes ( su* ,act1 designate ! treatm5t ( assi/ance adm9i/]$ by ! ,secret>y z funds = a special project = purposes ( section #cje7;c7 ( ! ,multifamily ,h\s+ ,prop]ty ,disposition ,re=m ,act ( #aiid 7#db ,u4,s4,c4 #cedg74 7b7 ,exception ,! designation describ$ 9 subsection 7a7 %all n apply to assi/ance = :i* a proc$ure = c>ry+ out ! responsibilities ( ! ,secret>y "u ! ,national ,environm5tal ,policy ,act ( #aifi 7#db ,u4,s4,c4 #dcba et seq471 & o!r provisions ( law t fur!r ! purposes ( su* ,act1 is o!rwise specifi$ 9 law4 4 7#b7 ,tribal assumption ( environm5tal review obligations ,section #cje7;c7 ( ! ,multifamily ,h\s+ ,prop]ty ,disposition ,re=m ,act ( #aiid 7#db ,u4,s4,c4 #cedg7 is am5d$-- 7,a7 by /rik+ ,/ate or unit ( g5]al local gov]nm5t ea* place x appe>s & ins]t+ ,/ate1 ,indian ,tribe1 or unit ( g5]al local gov]nm5t2 7,b7 9 p>agraph 7#a77;,c71 9 ! head+1 by /rik+ /ate or unit ( g5]al local gov]nm5t & ins]t+ /ate1 ,indian ,tribe1 or unit ( g5]al local gov]nm5t2 & 7,c7 by add+ at ! end ! foll[+3 7#e7 ,def9ition ( ,indian ,tribe ,= purposes ( ?is subsection1 ! t]m ,indian ,tribe means a f$]ally recogniz$ ,tribe1 z def9$ 9 section #d7ac77;,b7 ( ! ,native ,am]ican ,h\s+ ,assi/ance & ,self-,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4 #dajc7ac77;,b774 4 7c7 ,applicability ,any activity g5]at$ "u subsections 7a7 or 7b7 w\ld be subject to an au?orization ( appropriations4 7d7 ,infill project def9$ ,9 ?is section1 ! t]m infill project means a project t-- 7#a7 occurs )9 ! geographic limits ( a municipality2 7#b7 is adequately s]v$ by exi/+ utilities & public s]vices z requir$ "u applicable law2 7#c7 is locat$ on a site ( previ\sly di/urb$ l& ( n m ?an #e acres & sub/antially surr\nd$ by resid5tial or comm]cial developm5t2 7#d7 w repurpose a vacant or und]utiliz$ p>cel ( l&1 or a dilapidat$ or ab&on$ /ructure2 & 7#e7 w s]ve a resid5tial or comm]cial purpose4 #aje4 ,f$]al ,h\s+ ,ag5cy ,application ( ,environm5tal ,reviews 7a7 ,memor&um ( und]/&+ 7#a7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y ( ,h\s+ & ,urban ,developm5t & ! ,secret>y ( ,agriculture %all ent] into a memor&um ( und]/&+ to-- 7,a7 evaluate ! use ( categorical exclusions 7z def9$ 9 section #aaa ( ! ,national ,environm5tal ,policy ,act ( #aifi 7#db ,u4,s4,c4 #dccf;e77 = h\s+ projects fund$ by am\nts f ! ,dep>tm5t ( ! ,h\s+ & ,urban ,developm5t & ! ,dep>tm5t ( ,agriculture2 7,b7 develop a process to designate a lead ag5cy among ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t & ! ,dep>tm5t ( ,agriculture to /reaml9e ! adoption ( environm5tal impact /atem5ts & environm5tal assessm5ts approv$ by ! o!r ag5cy to con/ruct h\s+ projects fund$ by am\nts f bo? ag5cies2 7,c7 ma9ta9 compliance ) environm5tal regulations "u "p #eh ( title #bd1 ,code ( ,f$]al ,regulations1 z 9 effect on ,janu>y #a1 #bjbe2 & 7,d7 evaluate ! feasibility ( a jo9t physical inspection process = h\s+ projects fund$ by am\nts f ! ,dep>tm5t ( ! ,h\s+ & ,urban ,developm5t & ! ,dep>tm5t ( ,agriculture4 7#b7 ,report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y ( ,h\s+ & ,urban ,developm5t & ! ,secret>y ( ,agriculture %all submit to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate & ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives a report t includes recomm5dations = legislative1 regulatory1 or adm9i/rative actions-- 7,a7 to improve ! effici5cy & effectiv5ess ( h\s+ projects fund$ by am\nts f ! ,dep>tm5t ( ! ,h\s+ & ,urban ,developm5t & ! ,dep>tm5t ( ,agriculture2 & 7,b7 t d n mat]ially1 ) respect to resid5ts ( h\s+ projects describ$ 9 subp>agraph 7,a7-- 7i7 r$uce ! safety ( ^? resid5ts2 7ii7 %ift long-t]m co/s onto ^? resid5ts2 or 7iii7 und]m9e ! environm5tal /&>ds ( ^? resid5ts4 7b7 ,/udy & ,review 7#a7 ,exemption ,9 provid+ assi/ance "u section #eja1 #ejb1 #ejd1 #eae1 #ecc1 or #ech ( ! ,h\s+ ,act ( #aidi 7#db ,u4,s4,c4 #adga1 #adgb1 #adgd1 #adhe1 #adijm1 or #adijp-#b7 = ! con/ruction or modification ( resid5tial h\s+ locat$ on an infill site1 ! ,secret>y ( ,agriculture %all n be requir$ to c>ry out any /udy or report on ! environm5tal effects ( su* assi/ance4 7#b7 ,report ,n lat] ?an ! date t is #e ye>s aft] ! date ( enactm5t ( ?is section1 ! ,secret>y ( ,agriculture %all submit1 to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate1 a report t-- 7,a7 det]m9es :e!r ! implem5tation ( ?is section-- 7i7 r$uc$ ! am\nt ( "t x takes to review an application = assi/ance "u ! sections ( ! ,h\s+ ,act ( #aidi id5tifi$ 9 p>agraph 7#a72 & 7ii7 r$uc$ ! adm9i/rative co/ ( provid+ su* assi/ance2 7,b7 describes h[ ! implem5tation ( ?is section affects ! af=dable h\s+ sector 9 rural ,am]ica2 & 7,c7 includes any legislative recomm5dations f ! ,secret>y ( ,agriculture4 7#b7 ,def9itions ,9 ?is section3 7,a7 ,gre5field ,! t]m gre5field means a site t has n be5 develop$1 includ+ a woodl&1 f>ml&1 & an op5 field4 7,b7 ,infill site ,! t]m infill site-- 7i7 means a site t is s]v$ by exi/+ infra/ructure1 includ+ wat] l9es1 sew] l9es1 & roads2 & 7ii7 does n include-- 7,i7 a site t is s]v$ by exi/+ infra/ructure t only consi/s ( a road2 7,,ii7 a site )9 a c5sus tract designat$ z v high or relatively high risk = wildfire1 coa/al flood+1 & riv]9e flood+ "u ! ,national ,risk ,index ( ! ,f$]al ,em]g5cy ,managem5t ,ag5cy pursuant to section #bjf ( ! ,rob]t ,t4 ,/af=d ,disa/] ,relief & ,em]g5cy ,assi/ance ,act 7#db ,u4,s4,c4 #eacf72 & 7,,iii7 a gre5field4 #ajf4 ,multifamily loan limits 7a7 ,9 g5]al ,title ,,ii ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agjg et seq47 is am5d$-- 7#a7 9 section #bjf;,a 7#ab ,u4,s4,c4 #agab;a7-- 7,a7 9 subsection 7a71 9 ! matt] foll[+ p>agraph 7#g71 by /rik+ 7comm5c+ 9 #bjjd & all t foll[s ?r\gh ! p]iod at ! end & ins]t+ ! foll[+3 1 comm5c+ on ,janu>y #a1 #bjbf4 ,! adju/m5t ( ! ,doll> ,am\nts %all be calculat$ by ! ,secret>y us+ ! p]c5tage *ange 9 ! ,price ,deflator ,index ( ,multifamily ,resid5tial ,units ,"u ,con/ruction releas$ by ! ,bureau ( ! ,c5sus f ,m>* ( ! previ\s ye> to ,m>* ( ! ye> 9 :i* ! adju/m5t is made1 or calculat$ by ! ,secret>y us+ an alt]native indicator aft] publi%+ in=mation ab\t su* alt]native indicator 9 ! ,f$]al ,regi/] = public comm5t if ! ,price ,deflator ,index ( ,multifamily ,resid5tial ,units ,"u ,con/ruction is n available or publi%$42 & 7,b7 by /rik+ subsection 7b7 & ins]t+ ! foll[+3 7b7 ,r\nd+ ,! doll> am\nt ( any adju/m5t describ$ 9 subsection 7a7 %all be r\nd$ to ! next l[] doll>4 7c7 ,publication ,! ,secret>y %all publi% 9 ! ,f$]al ,regi/] any adju/m5ts made to ! ,doll> ,am\nts4 2 7#b7 9 section #bjg7;c77#c77;,a7 7#ab ,u4,s4,c4 #agac7;c77#c77;,a77-- 7,a7 by /rik+ #ch1jbe & ins]t+ #afg1caj2 7,b7 by /rik+ #db1abj & ins]t+ #ahe1cbh2 7,c7 by /rik+ #ej1caj & ins]t+ #bba1cfd2 7,d7 by /rik+ #fb1jaj & ins]t+ #bgb1hdd2 7,e7 by /rik+ #gj1bjj & ins]t+ #cjh1hhj2 7,f7 by /rik+ 1 or n to exce$ #ag1dfj p] space2 7,g7 by /rik+ #dc1hge & ins]t+ #aic1jej2 7,h7 by /rik+ #di1adj & ins]t+ #baf1baf2 7,i7 by /rik+ #fj1bee & ins]t+ #bfe1abb2 7,j7 by /rik+ #ge1dfe & ins]t+ #ccb1jdf2 & 7,k7 by /rik+ #he1cbh & ins]t+ #cge1ddc2 7#c7 9 section #bac7;b77#b7 7#ab ,u4,s4,c4 #agae;e7b77#b77-- 7,a7 by /rik+ #da1bjg & ins]t+ #aha1caa2 7,b7 by /rik+ #dg1eaa & ins]t+ #bji1jdh2 7,c7 by /rik+ #eg1cjj & ins]t+ #beb1abj2 7,d7 by /rik+ #gc1cdc & ins]t+ #cbb1gji2 7,e7 by /rik+ #ha1gjh & ins]t+ #cei1eae2 7,f7 by /rik+ #dc1hge & ins]t+ #aic1jej2 7,g7 by /rik+ #di1gaj & ins]t+ #bah1gbd2 7,h7 by /rik+ #fj1ddf & ins]t+ #bfe1ifb2 7,i7 by /rik+ #gh1aig & ins]t+ #cdd1jfg2 & 7,j7 by /rik+ #he1hcf & ins]t+ #cgg1fgh2 7#d7 9 section #bbj7;d77#c77;,b77iii77,i7 7#ab ,u4,s4,c4 #agaek7d77#c77;,b77iii77,i77-- 7,a7 by /rik+ #ch1jbe & ins]t+ #afg1caj2 7,b7 by /rik+ #db1abj & ins]t+ #ahe1cbh2 7,c7 by /rik+ #ej1caj & ins]t+ #bba1cfd2 7,d7 by /rik+ #fb1jaj & ins]t+ #bgb1hdd2 7,e7 by /rik+ #gj1bjj & ins]t+ #cjh1hhj2 7,f7 by /rik+ #dc1hge & ins]t+ #aic1jej2 7,g7 by /rik+ #di1adj & ins]t+ #baf1baf2 7,h7 by /rik+ #fj1bee & ins]t+ #bfe1abb2 7,i7 by /rik+ #ge1dfe & ins]t+ #ccb1jdf2 & 7,j7 by /rik+ #he1cbh & ins]t+ #cge1ddc2 7#e7 9 section #bba7;d77#d77;ii77,i7 7#ab ,u4,s4,c4 #agael7d77#d77;ii77,i77-- 7,a7 by /rik+ #cg1hdc & ins]t+ #aff1eji2 7,b7 by /rik+ #db1ied & ins]t+ #ahh1iig2 7,c7 by /rik+ #ea1ibj & ins]t+ #bbh1ddh2 7,d7 by /rik+ #fe1afi & ins]t+ #bhf1gdd2 7,e7 by /rik+ #gc1hdf & ins]t+ #cbd1ibb2 7,f7 by /rik+ #dj1hgf & ins]t+ #agi1hed2 7,g7 by /rik+ #df1hei & ins]t+ #bjf1ahj2 7,h7 by /rik+ #ef1igi & ins]t+ #bej1gjh2 7,i7 by /rik+ #gc1gaj & ins]t+ #cbd1cbd2 & 7,j7 by /rik+ #hj1iac & ins]t+ #cef1jag2 7#f7 9 section #bca7;c77#b77;,a7 7#ab ,u4,s4,c4 #agaev7c77#b77;,a77-- 7,a7 by /rik+ #ce1igh & ins]t+ #aff1eji2 7,b7 by /rik+ #dj1bbj & ins]t+ #ahh1iig2 7,c7 by /rik+ #dh1jbi & ins]t+ #bbh1ddh2 7,d7 by /rik+ #eg1gih & ins]t+ #bhf1gdd2 7,e7 by /rik+ #fg1iej & ins]t+ #cbd1ibb2 7,f7 by /rik+ #dj1hgf & ins]t+ #agi1hed2 7,g7 by /rik+ #df1hei & ins]t+ #bjf1ahj2 7,h7 by /rik+ #ef1igi & ins]t+ #bej1gjh2 7,i7 by /rik+ #gc1gaj & ins]t+ #cbd1cbd2 & 7,j7 by /rik+ #hj1iac & ins]t+ #cef1jag2 & 7#g7 9 section #bcd7;e77#c77;,a7 7#ab ,u4,s4,c4 #agaey7e77#c77;,a77-- 7,a7 by /rik+ #db1jdh & ins]t+ #ahe1jaa2 7,b7 by /rik+ #dh1dha & ins]t+ #bac1caf2 7,c7 by /rik+ #eh1dfi & ins]t+ #beg1bfc2 7,d7 by /rik+ #gd1hdj & ins]t+ #cbi1bif2 7,e7 by /rik+ #hc1cge & ins]t+ #cff1hej2 7,f7 by /rik+ #dd1bej & ins]t+ #aid1gjj2 7,g7 by /rik+ #ej1gbd & ins]t+ #bbc1ahf2 7,h7 by /rik+ #fa1fhj & ins]t+ #bga1cib2 7,i7 by /rik+ #gi1gic & ins]t+ #cea1jhi2 & 7,j7 by /rik+ #hg1ehh & ins]t+ #che1chg4 7b7 ,rule ( con/ruction ,no?+ 9 ?is section or ! am5dm5ts made by ?is section may be con/ru$ to limit ! au?ority ( ! ,secret>y ( ,h\s+ & ,urban ,developm5t to revise ! /atutory exceptions = high-co/ p]c5tage & high-co/ areas annual index+4 #ajg4 ,,gao /udy on work=ce h\s+ 7a7 ,9 g5]al ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is section1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all conduct a /udy & submit to ! ,congress a report t-- 7#a7 id5tifies ob/acles middle-income h\seholds face :5 look+ to secure af=dable h\s+2 7#b7 id5tifies geographic areas :]e h\s+ is ! mo/ unaf=dable & unavailable = middle-income h\seholds2 7#c7 includes a li/ ( ,f$]al h\s+ programs1 includ+ ,f$]al tax cr$its1 grants1 & loan programs1 t are n available to middle-income h\seholds due to _! income /atus1 includ+ ,f$]al h\s+ programs design$ to promote af=dability2 7#d7 recomm5ds income & o!r p>amet]s to e/abli% a cle> & consi/5t ,f$]al def9ition = ! t]m work=ce h\s+ = use :5 describ+ ! segm5t ( h\s+ t c\ld be made available to su* middle-income h\seholds 9 ,f$]al h\s+ programs if fund+ comm5surate ) ! additional eligibility 7 to be made available2 & 7#e7 analyzes h[ to modify or newly develop new ,f$]al h\s+ programs & inc5tives to include work=ce h\s+ if fund+ comm5surate ) ! additional eligibility 7 to be made available4 7b7 ,middle-income h\sehold def9$ ,9 ?is section1 ! t]m middle income h\sehold means a h\sehold ) an income above #hj-p]c5t b t does n exce$ #abj-p]c5t ( ! m$ian family income ( ! area1 z det]m9$ by ! ,secret>y ) adju/m5ts = small] & l>g] families4 ,,ii ,mod]niz+ ,local ,developm5t & ,rural ,h\s+ ,programs #bja4 ,,home ,re=m 7a7 ,9 g5]al ,section #ajd ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgjd7 is am5d$-- 7#a7 9 p>agraph 7#f77;,b71 by /rik+ significant2 & 7#b7 by add+ at end ! foll[+ new p>agraph3 7#bf7 ,! t]m infill h\s+ project means a resid5tial h\s+ project t-- 7,a7 is locat$ )9 ! geographic limits ( a municipality2 7,b7 is adequately s]v$ by exi/+ utilities & public s]vices z requir$ "u applicable law2 7,c7 is locat$ on a site ( previ\sly di/urb$ l& ( n m ?an #e acres2 & 7,d7 is sub/antially surr\nd$ by resid5tial or comm]cial developm5t1 z det]m9$ by ! ,secret>y4 4 7b7 ,assi/ance = l[-,income families ,title ,,ii ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgba et seq47 is am5d$-- 7#a7 9 section #bad7b71 by /rik+ h\seholds t qualify z l[-income families & ins]t+ families ) a h\sehold income t does n exce$ #ajj-p]c5t ( ! m$ian-family income ( ! area1 z det]m9$ by ! ,secret>y2 7#b7 9 section #bae-- 7,a7 9 subsection 7b77#b71 by /rik+ ^: family qualifies z a l[-income family & ins]t+ ) a family income t does n exce$ #ajj-p]c5t ( ! m$ian-family income ( ! area z det]m9$ by ! ,secret>y ) adju/m5ts = small] & l>g] families2 & 7,b7 9 subsection 7b77#c77;,a77ii71 by /rik+ l[-income homebuy]s & ins]t+ homebuy]s ) a h\sehold income t does n exce$ #ajj-p]c5t ( ! m$ian-family income ( ! area1 z det]m9$ by ! ,secret>y ) adju/m5ts = small] & l>g] families2 & 7#c7 9 section #bga7;c7-- 7,a7 9 p>agraph 7#a77;,b71 by /rik+ l[-income & ins]t+ families ) a h\sehold income t does n exce$ #ajj-p]c5t ( ! m$ian-family income ( ! area z det]m9$ by ! ,secret>y ) adju/m5ts = small] & l>g] families2 & 7,b7 9 p>agraph 7#b77;,a71 by /rik+ l[-income families & ins]t+ families ) a h\sehold income t does n exce$ #ajj-p]c5t ( ! m$ian-family income ( ! area z det]m9$ by ! ,secret>y ) adju/m5ts = small] & l>g] families4 7c7 ,*oices made by p>ticipat+ jurisdictions ,section #bab7;a77#b7 ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgdb7 is am5d$ to read z foll[s3 7#b7 ,limitation ,! ,secret>y may n re/rict a p>ticipat+ jurisdiction's *oice ( rehabilitation1 sub/antial rehabilitation1 new con/ruction1 recon/ruction1 acquisition1 or o!r eligible h\s+ uses au?oriz$ 9 p>agraph 7#a7 unless su* re/riction is explicitly au?oriz$ "u section #bbc7b74 4 7d7 ,use ( am\nts by c]ta9 jurisdictions = infra/ructure improvem5ts 7#a7 ,9 g5]al ,section #bab7;a7 ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgdb7;a77 is am5d$ by ins]t+ aft] p>agraph 7#c7 ! foll[+3 7#d7 ,infra/ructure improvem5ts 9 non5titlem5t areas 7,a7 ,9 g5]al ,a p>ticipat+ jurisdiction may use funds provid$ "u ?is subtitle = infra/ructure improvem5ts1 includ+ ! in/allation or repair ( wat] & sew] l9es1 sidewalks1 roads1 & utility connections if-- 7i7 su* p>ticipat+ jurisdiction does n receive assi/ance "u title ,i ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd2 & 7ii7 su* improvem5ts are directly relat$ to1 & locat$ )9 or imm$iately adjac5t to-- 7,i7 h\s+ assi/$ "u ?is subtitle2 or 7,,ii7 h\s+ assi/$ "u section #db ( ! ,int]nal ,rev5ue ,code ( #aihf4 7,b7 ,application ( labor /&>ds ,! labor /&>ds & requirem5ts set =? 9 section #aaj ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecaj7 %all apply to any infra/ructure improvem5t conduct$ us+ funds provid$ "u ?is subtitle4 7,c7 ,rule ( con/ruction ,no?+ 9 ?is p>agraph may be con/ru$ to impose any requirem5ts ( ! ,,home ,inve/m5t ,p>tn]%ips program on h\s+ t b5efits f an infra/ructure improvem5t conduct$ us+ funds provid$ "u ?is subtitle b 0 n o!rwise assi/$ "u ! ,,home ,inve/m5t ,p>tn]%ips program4 4 7#b7 ,rulemak+ ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is section1 ! ,secret>y %all issue rules to c>ry out ! am5dm5t made by p>agraph 7#a74 7e7 ,p] unit inve/m5t limitations ,section #bab7;e77#a7 ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgdb7;e77#a77 is am5d$ by /rik+ ! second s5t5ce4 7f7 ,af=dable r5tal h\s+ qualifications ,section #bae7;a7 ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgde7;a77 is am5d$ by add+ at ! end ! foll[+3 7#g7 ,qualification ,exception ,not)/&+ p>agraph 7#a77;,a71 a r5tal unit %all be consid]$ to qualify z af=dable h\s+ "u ?is title if-- 7,a7 ! unit is occupi$ by a t5ant receiv+ t5ant-bas$ r5tal assi/ance "u section #h ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;f72 7,b7 ! t5ant's contribution t[>d r5t does n exce$ ! am\nt p]mitt$ "u su* section #h assi/ance2 & 7,c7 ! total r5t = ! unit does n exce$ ! am\nt approv$ by ! public h\s+ ag5cy adm9i/]+ ! assi/ance "u t program4 4 7g7 ,af=dable home[n]%ip h\s+ qualifications ,section #bae ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgde7;b77 is am5d$-- 7#a7 9 subsection 7b7-- 7,a7 9 p>agraph 7#a71 by /rik+ #ie p]c5t & ins]t+ #aaj p]c5t2 7,b7 9 p>agraph 7#c7-- 7i7 9 subp>agraph 7,a77ii71 by /rik+ or at ! end2 7ii7 9 subp>agraph 7,b71 by /rik+ & at ! end & ins]t+ or2 & 7iii7 by add+ at ! end ! foll[+ new subp>agraph3 7,c7 ma9ta9 long-t]m af=dability ?r\gh a %>$ equity own]%ip model1 a community l& tru/1 a limit$ equity coop]ative1 a community developm5t corporation1 or o!r me*anism approv$ by ! ,secret>y1 t pres]ves af=dability = future eligible homebuy]s & ensures compliance ) ! purposes ( ?is title1 includ+ ?r\gh ! use ( pur*ase options1 rights ( fir/ refusal or o!r preemptive rights to pur*ase h\s+2 & 2 & 7#b7 by add+ at ! end ! foll[+3 7c7 ,qualification exceptions = home[n]%ip 7#a7 ,milit>y memb]s ,a p>ticipat+ jurisdiction1 9 accordance ) t]ms e/abli%$ by ! ,secret>y1 may susp5d or waive ! income qualifications describ$ 9 subsection 7b77#b7 ) respect to h\s+ t o!rwise meets ! crit]ia describ$ 9 subsection 7b7 if ! own] ( ! h\s+-- 7,a7 is a memb] ( a regul> compon5t ( ! arm$ =ces or a memb] ( ! ,national ,gu>d on full-"t ,national ,gu>d duty1 active ,gu>d & ,res]ve duty1 or inactive-duty tra9+ 7z ^? t]ms are def9$ 9 section #aja7;d7 ( title #aj1 ,unit$ ,/ates ,code72 & 7,b7 has receiv$-- 7i7 tempor>y duty ord]s to deploy ) a milit>y unit or milit>y ord]s to deploy z an individual act+ 9 support ( a milit>y op]ation1 to a location t is n )9 a reasonable di/ance f ! h\s+1 z det]m9$ by ! ,secret>y1 = a p]iod ( n less ?an #ij days2 or 7ii7 ord]s = a p]man5t *ange ( /ation4 7#b7 ,heirs & b5efici>ies ( deceas$ own]s ,h\s+ t meets ! crit]ia describ$ 9 subsection 7b77#c7 prior to ! dea? ( an own] ( su* h\s+ %all cont9ue to qualify z af=dable h\s+ "u ?is title if-- 7,a7 ! h\s+ is ! pr9cipal resid5ce ( an heir or b5efici>y ( ! deceas$ own]1 z def9$ by ! ,secret>y2 & 7,b7 ! heir or b5efici>y1 9 accordance ) t]ms e/abli%$ by ! ,secret>y1 assumes ! duties & obligations ( ! deceas$ own] ) respect to funds provid$ "u ?is title4 4 7h7 ,elim9ation ( expiration ( "r to draw home inve/m5t tru/ funds ,section #bah ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgdh7 is am5d$-- 7#a7 by /rik+ subsection 7g72 & 7#b7 by r$esignat+ subsection 7h7 z subsection 7g74 7i7 ,adju/$ recapture & reuse ( set-aside = community h\s+ developm5tal organizations ,section #bca7;b7 ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgga7;b77 is am5d$ to read z foll[s3 7b7 ,recapture & reuse ,if any funds res]v$ "u subsection 7a7 rema9 un9ve/$ = a p]iod ( #bd mon?s1 ! ,secret>y %all make su* funds available to ! p>ticipat+ jurisdiction = any eligible activities "u title ,,ii ( ?is ,act )\t reg>d to :e!r a community h\s+ developm5t organization mat]ially p>ticipates 9 ! use ( su* funds4 4 7j7 ,asset recycl+ in=mation dissem9ation expansion ,section #bde7;b77#b7 ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abghe7;b77#b77 is am5d$ by /rik+ #ie p]c5t & ins]t+ #aaj p]c5t4 7k7 ,environm5tal review requirem5ts 7#a7 ,9 g5]al ,section #bhh ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abhch7 is am5d$ by add+ at ! end ! foll[+3 7e7 ,categorical exemptions ,! foll[+ categories ( activities c>ri$ out "u ?is title %all be /atutorily exempt f environm5tal review "u ! ,national ,environm5tal ,policy ,act ( #aifi 7#db ,u4,s4,c4 #dcba et seq471 & %all n require fur!r review "u su* ,act-- 7#a7 new con/ruction infill h\s+ projects2 7#b7 acquisition ( real prop]ty = af=dable h\s+ purposes2 7#c7 rehabilitation projects c>ri$ out pursuant to section #bab7;a77#a72 & 7#d7 new con/ruction projects ( #ae units or less4 7f7 ,remov+ duplicative reviews 7#a7 ,9 g5]al ,to ! ext5t practicable & p]mitt$ by law1 ! ,secret>y %all ensure t a project t has und]gone an environm5tal review "u ?is section %all n be subject to a duplicative environm5tal review solely due to ! addition1 sub/itution1 or reallocation ( o!r s\rces ( ,f$]al assi/ance1 if ! scope1 scale1 & location ( ! project rema9 sub/antially un*ang$4 7#b7 ,coord9ation ( environm5tal review responsibilities ,! ,secret>y %all1 by regulation1 provide = coord9ation ( environm5tal review responsibilities ) o!r ,f$]al ag5cies to /reaml9e int]-ag5cy compliance & avoid unnecess>y duplication ( ef=t "u ! ,national ,environm5tal ,policy ,act ( #aifi 7#db ,u4,s4,c4 #dcba et seq47 & o!r applicable laws4 7#c7 ,recognition ( prior reviews by responsible entities ,a project may n be subject to an environm5tal review "u ?is section if a sub/antially simil> review has already be5 complet$ by an entity designat$ "u section #ajd7;g77#a7 ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecjd7;g77#a77 or by ano!r entity ! ,secret>y det]m9es to h equival5t au?ority1 if ! scope1 scale1 & location ( ! project rema9 sub/antially un*ang$4 4 7#b7 ,rulemak+ ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y %all issue su* rules z ! ,secret>y det]m9es necess>y to c>ry out ! am5dm5t made by ?is subsection4 7#c7 ,applicability ,any activity g5]at$ "u ?is subsection w\ld be subject to an au?orization ( appropriations4 7l7 ,application ( ,build ,am]ica1 ,buy ,am]ica requirem5ts = ,,home ,inve/m5t ,p>tn]%ips ,program 7#a7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is section1 ! ,secret>y ( ,h\s+ & ,urban ,developm5t %all complete a review ( ! implem5tation ( ! ,build ,am]ica1 ,buy ,am]ica ,act 7title ,,iv ( division ,g ( ,public ,law #aag-eh2 #db ,u4,s4,c4 #hcja note7 ) respect to ! activities assi/$ "u title ,,ii ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgba et seq474 7#b7 ,updat$ guidance ,n lat] ?an #ij days aft] ! review describ$ 9 subsection 7a7 is complet$1 ! ,secret>y %all issue updat$ guidance to cl>ify ! application ( ! ,build ,am]ica1 ,buy ,am]ica ,act 7title ,,iv ( division ,g ( ,public ,law #aag-eh2 #db ,u4,s4,c4 #hcja note7 ) respect to ! activities assi/$ "u title ,,ii ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgba et seq474 7#c7 ,report ,n lat] ?an #bgj days aft] ! date ( ! enactm5t ( ?is section1 ! ,secret>y %all submit to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate a report t describes-- 7,a7 ! results ( ! review requir$ "u subsection 7a72 & 7,b7 ! guidance issu$ z describ$ 9 subsection 7b74 7m7 ,application ( o!r specifi$ /atutory requirem5ts ,title ,,ii ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgba et seq47 is am5d$ by add+ at ! end ! foll[+ new section 7& by con=m+ ! table ( sections 9 section #a7;b71 accord+ly73 #bia4 ,nonapplicability ( c]ta9 requirem5ts = small projects ,not)/&+ any o!r provision ( law1 ! requirem5ts ( section #c ( ! ,h\s+ & ,urban ,developm5t ,act ( #aifh 7#ab ,u4,s4,c4 #agjau71 & any implem5t+ regulations or guidance1 %all n apply to an activity assi/$ "u ?is title t involves rehabilitation1 con/ruction1 or o!r developm5t ( h\s+ if-- 7#a7 ! recipi5t ( assi/ance "u ?is title is-- 7,a7 a ,/ate recipi5t pursuant to section #baf2 or 7,b7 a p>ticipat+ jurisdiction t receiv$ a total allocation ( less ?an #c1jjj1jjj 9 ! mo/ rec5t fiscal ye> pursuant to section #baf2 & 7#b7 ! total numb] ( dwell+ units assi/$ z a "p ( su* activity is #ej or few]4 4 7n7 ,te*nical am5dm5ts ,! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgja et seq47 is am5d$-- 7#a7 by /rik+ ,/ew>t ,b4 ,mc,kinney ,homeless ,assi/ance ,act ea* place x appe>s & ins]t+ ,mc,kinney-,v5to ,homeless ,assi/ance ,act2 & 7#b7 by /rik+ ,committee on ,bank+1 ,f9ance & ,urban ,affairs ea* place x appe>s & ins]t+ ,committee on ,f9ancial ,s]vices4 7o7 ,reallocation n available = c]ta9 jurisdictions ,section #bag7;d7 ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgdg7;d77 is am5d$-- 7#a7 9 p>agraph 7#a71 by /rik+ ! second s5t5ce & ins]t+ ! foll[+3 ,subject to p>agraph 7#d71 jurisdictions eligible = su* reallocations %all include p>ticipat+ jurisdictions & jurisdictions meet+ ! requirem5ts ( ?is title1 includ+ ! requirem5ts 9 p>agraphs 7#c71 7#d71 & 7#e7 ( section #baf42 & 7#b7 by add+ at ! end ! foll[+3 7#d7 ,reallocation n available = c]ta9 jurisdictions ,! ,secret>y may decl9e to make a reallocation available to a jurisdiction eligible = su* reallocation if su* jurisdiction has fail$ to meet or comply ) any requirem5t "u ?is title4 4 7p7 ,am5dm5ts to qualification z af=dable h\s+ ,section #bae7;a7 ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgde7;a77 is am5d$-- 7#a7 9 p>agraph 7#a77;,e71 by /rik+ except ^u a =eclosure by a l5d] 7or ^u o!r transf] 9 lieu ( =eclosure7 if su* action 7i7 recognizes any contractual or legal rights ( public ag5cies1 nonpr(it sponsors1 or o!rs to take actions t w\ld avoid t]m9ation ( l[-income af=dability 9 ! case ( =eclosure or transf] 9 lieu ( =eclosure1 & 7ii7 is n = ! purpose ( avoid+ l[ income af=dability re/rictions1 z det]m9$ by ! ,secret>y2 & & ins]t+ ! foll[+3 8except-- 7i7 ^u a =eclosure by a l5d] 7or ^u o!r transf] 9 lieu ( =eclosure7 if su* action-- 7,i7 recognizes any contractual or legal rights ( public ag5cies1 nonpr(it sponsors1 or o!rs to take actions t w\ld avoid t]m9ation ( l[-income af=dability 9 ! case ( =eclosure or transf] 9 lieu ( =eclosure2 & 7,,ii7 is n = ! purpose ( avoid+ l[-income af=dability re/rictions1 z det]m9$ by ! ,secret>y2 or 7ii7 :]e exi/+ af=dable h\s+ is no long] f9ancially viable due to un=ese5 acts or occurr5ces beyond ! reasonable contemplation or control ( ! p>ticipat+ jurisdiction 9 :i* ! af=dable h\s+ is locat$ or ! own] ( ! af=dable h\s+ t significantly impact ! f9ancial or physical condition ( ! af=dable h\s+1 z det]m9$ by ! ,secret>y2 & 2 & 7#b7 by add+ at ! end ! foll[+3 7#h7 ,small-scale h\s+ 7,a7 ,9 g5]al ,small-scale h\s+ %all qualify z af=dable h\s+ "u ?is title if-- 7i7 ea* dwell+ unit 9 su* h\s+ be>s r5t 9 an am\nt t complies ) ! requirem5ts describ$ 9 p>agraph 7#a77;,a72 7ii7 ea* dwell+ unit 9 su* h\s+ is occupi$ by a l[-income family2 7iii7 no dwell+ unit 9 su* h\s+ is refus$ = leas+ to a hold] ( a v\*] "u section #h ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;f7 because ( ! /atus ( ! prospective t5ant z a hold] ( su* v\*]2 7iv7 su* h\s+ complies ) ! requirem5t describ$ 9 p>agraph 7#a77;,e72 & 7v7 ! p>ticipat+ jurisdiction 9 :i* su* small-scale h\s+ is locat$ monitors ! compliance ( su* h\s+ ) ! requirem5ts ( ?is title 9 a mann] consi/5t ) ! purposes ( section #bbf7;b71 z det]m9$ by ! ,secret>y4 7,b7 ,small-scale h\s+ def9$ ,9 ?is p>agraph1 ! t]m small-scale h\s+ means h\s+ ) n m ?an #d dwell+ units ea* ( :i* is made available = r5tal4 4 7q7 ,t5ant & p>ticipant protections = small-scale af=dable h\s+ ,section #bbe ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgee7 is am5d$ by add+ at ! end ! foll[+3 7e7 ,exception ,p>agraphs 7#b71 7#c71 & 7#d7 %all n apply to small-scale h\s+1 z su* t]m is def9$ 9 section #bae7;a77#g74 4 7r7 ,revision ( def9ition ( community l& tru/ ,section #ajd ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgjd7 is am5d$ by add+ at ! end ! foll[+3 7#bg7 ,! t]m community l& tru/ means a nonpr(it entity1 a ,/ate1 a unit ( local gov]nm5t or in/rum5tality ( a ,/ate or unit ( local gov]nm5t t-- 7,a7 is n manag$ by1 or an affiliate (1 a =-pr(it organization2 7,b7 has z a prim>y purpose ( acquir+1 develop+1 or hold+ l& to provide h\s+ t is p]man5tly af=dable to l[- & mod]ate-income p]sons2 7,c7 monitors prop]ties to ensure af=dability is pres]v$2 7,d7 provides h\s+ t is p]man5tly af=dable to l[- & mod]ate-income p]sons us+ a gr\nd lease1 de$ cov5ant1 or o!r simil> legally en=ceable measure1 det]m9$ acceptable by ! ,secret>y1 t-- 7i7 keeps h\s+ af=dable to l[- & mod]ate-income p]sons = n less ?an #cj ye>s2 & 7ii7 enables l[- & mod]ate-income p]sons to r5t or pur*ase ! h\s+ = home[n]%ip2 & 7,e7 ma9ta9s preemptive pur*ase options to pur*ase ! prop]ty if su* pur*ase w\ld all[ ! h\s+ to rema9 af=dable to l[-& mod]ate-income p]sons4 4 7s7 ,con=m+ am5dm5ts ,! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgja et seq47 is am5d$-- 7#a7 9 section #bcc by /rik+ subsection 7f72 & 7#b7 9 section #bcc7;b77#f71 by /rik+ to community l& tru/s 7z su* t]m is def9$ 9 subsection 7f77 & ins]t+ to community l& tru/s 7z su* t]m is def9$ 9 section #ajd74 7t7 ,m9imum allocations ,section #bag7;b7 ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgdg 7b77 is am5d$-- 7#a7 9 p>agraph 7#b71 by /rik+ #ejj1jjj ea* place t t]m appe>s & ins]t+ #gej1jjj2 7#b7 9 p>agraph 7#c7-- 7,a7 by /rik+ jurisdictions t are allocat$ an am\nt ( #ejj1jjj or m & ins]t+ jurisdictions t are allocat$ an am\nt ( #gej1jjj or m2 7,b7 by /rik+ t are allocat$ an am\nt less ?an #ejj1jjj & ins]t+ t are allocat$ an am\nt less ?an #gej1jjj2 & 7,c7 by /rik+ 1 except z provid$ 9 p>agraph 7#d72 & 7#c7 by /rik+ p>agraph 7#d74 7u7 ,additional te*nical corrections ,! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgja et seq47 is am5d$-- 7#a7 9 section #ajh7;a77#a71 by /rik+ section #aje7;b77#ae7 & ins]t+ section #aje7;b77#ah72 & 7#b7 9 section #bag7;b77#a77;,f71 by /rik+ ,subcommittee on ,h\s+ & ,community ,developm5t & ins]t+ ,subcommittee on ,h\s+1 ,transportation1 & ,community ,developm5t4 #bjb4 ,community ,developm5t ,fund ,am5dm5ts 7a7 ,id5tify+ ,regulatory ,b>ri]s to ,h\s+ ,supply ,section #ajd ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecjd7 is am5d$ by add+ at ! end ! foll[+3 7n7 ,plan to track & r$uce ov]ly burd5some l& use policies 7#a7 ,9 g5]al ,beg9n+ #a ye> aft] ! date ( ! enactm5t ( ?is subsection1 prior to receipt 9 any fiscal ye> ( a grant f ! ,secret>y "u subsection 7b71 7d77#a71 or 7d77#b77;,b7 ( section #ajf1 ea* recipi5t %all h prep>$ & submitt$1 n less frequ5tly ?an once dur+ ! prec$+ #e-ye> p]iod1 a description (-- 7,a7 :e!r ! jurisdiction s]v$ by ! recipi5t has adopt$ any ( ! types ( l& use policies describ$ 9 p>agraph 7#b7 dur+ ! prec$+ #e-ye> p]iod2 7,b7 ! plans ! jurisdiction s]v$ by ! recipi5t has to adopt & implem5t any ( ! types ( l& use policies describ$ 9 p>agraph 7#b72 & 7,c7 any ways 9 :i* ! jurisdiction s]v$ by ! recipi5t expects ! plann$ adoption ( any ( ! types ( l& use policies describ$ 9 p>agraph 7#b7 w\ld b5efit ! jurisdiction4 7#b7 ,types ( l& use policies ,! types ( policies to be consid]$ = ! purposes ( ! submission ( in=mation requir$ "u p>agraph 7#a7 include ! foll[+3 7,a7 ,exp&+ by-"r multifamily zon$ areas4 7,b7 ,all[+ duplexes1 triplexes1 or f\rplexes 9 areas zon$ prim>ily = s+le-family resid5tial homes4 7,c7 ,all[+ manufactur$ homes 9 areas zon$ prim>ily = s+le-family resid5tial homes4 7,d7 ,all[+ multifamily developm5t 9 retail1 (fice1 & light manufactur+ zones4 7,e7 ,all[+ s+le-room occupancy developm5t :]ev] multifamily h\s+ is all[$4 7,f7 ,r$uc+ m9imum lot size4 7,g7 ,ensur+ hi/oric pres]vation requirem5ts & o!r l& use policies or requirem5ts are coord9at$ to enc\rage creation ( h\s+ 9 hi/oric build+s & hi/oric di/ricts4 7,h7 ,increas+ ! all[able floor area ratio by all[+ a high] ratio ( total floor area 9 a build+ 9 comp>ison to its lot size4 7,i7 ,creat+ transit-ori5t$ developm5t zones4 7,j7 ,/reaml9+ or %ort5+ p]mitt+ processes & timel9es1 includ+ ?r\gh "o-/op & p>allel-process p]mitt+4 7,k7 ,elim9at+ or r$uc+ (f-/reet p>k+ requirem5ts4 7,l7 ,ensur+ impact & utility inve/m5t fees accurately reflect requir$ infra/ructure ne$s & relat$ impacts on h\s+ af=dability are o!rwise mitigat$4 7,m7 ,all[+ (f-site con/ruction1 includ+ prefabricat$ con/ruction4 7,n7 ,r$uc+ or elim9at+ m9imum unit squ>e footage requirem5ts4 7,o7 ,all[+ ! conv]sion ( (fice units to ap>tm5ts4 7,p7 ,all[+ ! subdivision ( s+le-family homes into duplexes4 7,q7 ,all[+ accessory dwell+ units1 includ+ deta*$ accessory dwell+ units1 on all lots ) s+le-family homes4 7,r7 ,e/abli%+ d5sity bonuses4 7,s7 ,elim9at+ or relax+ resid5tial prop]ty height limitations4 7,t7 ,us+ prop]ty tax abatem5ts to enable high] d5sity & mix$-income communities4 7,u7 ,donat+ vacant l& = af=dable h\s+ developm5t4 7,v7 ,enact+ o!r relevant high-d5sity1 s+le-family1 & multifamily zon+ policies t ! recipi5t *ooses to report4 7#c7 ,effect ( submission ,a submission "u ?is subsection %all n be b9d+ ) respect to ! use or di/ribution ( am\nts receiv$ "u section #ajf4 7#d7 ,acceptance or nonacceptance ( plan ,! acceptance or nonacceptance ( any plan submitt$ "u ?is subsection 9 :i* ! in=mation requir$ "u ?is subsection is provid$ may n be consid]$ an endorsem5t or approval ( ! plan1 policies1 or me?odologies1 or lack !re(4 7#e7 ,prohibition on use ( in=mation = en=cem5t ,in=mation provid$ by a recipi5t to ! ,secret>y "u ?is subsection may n be us$ z ! basis = any en=cem5t action4 4 7b7 ,addition ( af=dable h\s+ con/ruction z an eligible activity 7#a7 ,eligible activity ,section #aje7;a7 ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecje7;a77 is am5d$-- 7,a7 9 p>agraph 7#be77;,d71 by /rik+ & at ! end2 7,b7 9 p>agraph 7#bf71 by /rik+ ! p]iod at ! end & ins]t+ 2 &2 & 7,c7 by add+ at ! end ! foll[+ new p>agraph3 7#bg7 ! new con/ruction ( af=dable h\s+1 )9 ! mean+ giv5 su* t]m "u section #bae ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgde71 & :i* %all n exce$ #bj-p]c5t ( ! am\nts allocat$ to ! recipi5t4 4 7#b7 ,l[- & mod]ate-income requirem5t ,section #aje7;c77#c7 ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecje7;c77#c77 is am5d$ by /rik+ or rehabilitation & ins]t+ 1 rehabilitation1 or new con/ruction4 7#c7 ,applicability ,! am5dm5ts made by ?is subsection %all apply ) respect only to am\nts appropriat$ aft] ! date ( ! enactm5t ( ?is ,act4 7c7 ,databases ( publicly own$ l& 7#a7 ,9 g5]al ,section #ajd7;b7 ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd 7#db ,u4,s4,c4 #ecjd7;b77 is am5d$-- 7,a7 9 p>agraph 7#e71 by /rik+ & at ! end2 7,b7 9 p>agraph 7#f71 by /rik+ ! p]iod at ! end & ins]t+ 2 &2 & 7,c7 by add+ at ! end ! foll[+3 7#g7 ! grantee ma9ta9s1 on a publicly accessible website1 a se>*able database t id5tifies all p>cels ( undevelop$ l& own$ by ! grantee4 4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all take effect on ,octob] #a1 #bjbf4 #bjc4 ,grants = plann+ & implem5tation associat$ ) af=dable h\s+ 7a7 ,9 g5]al ,! ,secret>y ( ,h\s+ & ,urban ,developm5t %all1 n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is section1 e/abli% a pilot program to aw>d grants on a competitive basis to eligible entities to assi/ plann+ & implem5tation activities associat$ ) af=dable h\s+4 7b7 ,use ( am\nts 7#a7 ,by regional plann+ ag5cies ,if an eligible entity t receives am\nts "u ?is section is a regional plann+ ag5cy or consortia ( regional plann+ ag5cies1 su* eligible entity %all use su* am\nts to assi/ plann+ activities ) respect to af=dable h\s+1 includ+-- 7,a7 ! developm5t ( h\s+ plans2 7,b7 ! sub/antial improvem5t ( ,/ate or local h\s+ /rategies2 7,c7 ! developm5t ( new regulatory requirem5ts & processes2 7,d7 updat+ zon+ codes2 7,e7 increas+ ! capacity to conduct h\s+ inspections2 7,f7 increas+ ! capacity to r$uce b>ri]s to h\s+ supply ela/icity & h\s+ af=dability2 7,g7 ! developm5t ( local or regional plans = community developm5t2 & 7,h7 ! sub/antial improvem5t ( community developm5t /rategies1 includ+ /rategies design$ to-- 7i7 increase ! availability ( af=dable h\s+ & access to af=dable h\s+2 7ii7 increase access to public transportation2 & 7iii7 advance su/a9able or location-effici5t community developm5t goals4 7#b7 ,by /ates1 insul> areas1 metropolitan cities1 & urban c\nties ,if an eligible entity t receives am\nts "u ?is section is a ,/ate1 insul> area1 metropolitan city1 or urban c\nty1 su* eligible entity %all use su* am\nts to-- 7,a7 implem5t & adm9i/] h\s+ /rategies & h\s+ plans2 7,b7 implem5t & adm9i/] any plans to increase h\s+ *oice1 address disp>ities 9 h\s+ ne$s1 & provide great] access to opportunity2 7,c7 fund any community inve/m5ts t support goals id5tifi$ 9 a h\s+ /rategy or h\s+ plan2 7,d7 implem5t & adm9i/] regulatory requirem5ts & processes ) respect to re=m$ zon+ codes2 7,e7 increase ! capacity to conduct h\s+ inspections2 7,f7 increase ! capacity to r$uce b>ri]s to h\s+ supply ela/icity & h\s+ af=dability2 7,g7 implem5t & adm9i/] local or regional plans = community developm5t2 & 7,h7 fund any plann+ to increase-- 7i7 ! availability ( af=dable h\s+ & access to af=dable h\s+2 7ii7 access to public transportation2 & 7iii7 any location-effici5t community developm5t goals4 7#c7 ,use = adm9i/rative co/s ,a eligible entity t receives am\nts "u ?is section may n use m ?an #aj-p]c5t ( su* am\nts = adm9i/rative co/s4 7c7 ,coord9ation ,to ! ext5t practicable1 ! ,secret>y %all coord9ate ) ! ,f$]al ,transit ,adm9i/rator 9 c>ry+ out ?is section4 7d7 ,additional uses ( am\nts 7#a7 ,h\s+ con/ruction ,exp5ditures on new con/ruction ( h\s+ %all be an eligible exp5se "u ?is section4 7#b7 ,build+s = g5]al conduct ( gov]nm5t ,exp5ditures on build+ = ! g5]al conduct ( gov]nm5t1 o!r ?an ! ,f$]al ,gov]nm5t1 %all be eligible "u ?is section :5 necess>y & appropriate z a "p ( a natural haz>d mitigation project4 7e7 ,expiration ( au?ority ,aft] ! expiration ( ! #e-ye> p]iod beg9n+ on ! date ( ! enactm5t ( ?is section1 ! ,secret>y may n newly e/abli% a pilot program z describ$ 9 ?is section4 7f7 ,sunset ,! pilot program e/abli%$ "u ?is section %all t]m9ate on ! date t is #e ye>s aft] ! date ( ! enactm5t ( ?is section4 7g7 ,def9itions ,9 ?is subsection3 7#a7 ,eligible entity ,! t]m eligible entity means-- 7,a7 a ,/ate1 insul> area1 metropolitan city1 or urban c\nty1 z su* t]ms are def9$ 9 section #ajb ( ! ,h\s+ & ,community ,developm5t ,act ( #aigd2 or 7,b7 a regional plann+ ag5cy or consortia ( regional plann+ ag5cies4 7#b7 ,h\s+ plan ,! t]m h\s+ plan means a plan to1 ) respect to an area )9 ! jurisdiction ( an eligible entity-- 7,a7 increase ! am\nt ( available h\s+ to meet ! dem& = su* h\s+ & any project$ increase 9 ! dem& = su* h\s+2 7,b7 increase ! af=dability ( h\s+2 7,c7 increase ! accessibility ( h\s+ = p ) disabilities1 includ+ location-effici5t h\s+2 7,d7 pres]ve or improve ! quality ( h\s+2 7,e7 r$uce b>ri]s to h\s+ developm5t2 & 7,f7 coord9ate ) transportation-relat$ ag5cies4 7#c7 ,h\s+ /rategy ,! t]m h\s+ /rategy means a h\s+ /rategy requir$ "u section #aje ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act4 #bjd4 ,rural h\s+ s]vice program improvem5ts 7a7 ,9 g5]al ,section #ejd7;a7 ( ! ,h\s+ ,act ( #aidi 7#db ,u4,s4,c4 #adgd7;a77 is am5d$-- 7#a7 9 ! fir/ s5t5ce1 by ins]t+ & may make a loan to an eligible l[-income applicant aft] applicant2 & 7#b7 by /rik+ #g1ejj & ins]t+ #ae1jjj4 7b7 ,annual report on rural h\s+ programs ,title ,v ( ! ,h\s+ ,act ( #aidi 7#db ,u4,s4,c4 #adga et seq471 z am5d$ by ?is section1 is am5d$ by add+ at ! end ! foll[+3 #ede4 ,annual report 7a7 ,9 g5]al ,! ,secret>y %all submit to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate & publi% on a website ( ! ,dep>tm5t ( ,agriculture an annual report on ! rural h\s+ programs c>ri$ out "u ?is title4 7b7 ,cont5ts ,! report requir$ "u subsection 7a7 %all include significant details on ! in=mation ab\t ! heal? ( ! programs c>ri$ out by ! ,rural ,h\s+ ,s]vice1 includ+-- 7#a7 raw data ab\t loan p]=mance t c be sort$ by program & region2 7#b7 a description ( ! h\s+ /ock ( su* programs2 7#c7 in=mation ab\t :y prop]ties end p>ticipation 9 su* programs1 includ+ maturation prepaym5t1 =eclosure1 or o!r s]vic+ issues2 & 7#d7 risk rat+s = prop]ties assi/$ "u su* programs4 7c7 ,protection ( in=mation ,data includ$ 9 a report requir$ "u subsection 7a7 may be aggregat$ or anonymiz$ to protect ! f9ancial in=mation & p]sonal in=mation ( program p>ticipants4 4 7c7 ,application review 7#a7 ,s5se ( ,congress ,x is ! s5se ( ! ,congress1 n lat] ?an #ij days aft] ! date on :i* ! ,secret>y ( ,agriculture receives an application = a loan1 grant or comb9$ loan & grant "u section #ejb or #ejd ( ! ,h\s+ ,act ( #aidi 7#db ,u4,s4,c4 #adgb1 #adgd71 ! ,secret>y ( ,agriculture %\ld-- 7,a7 review ! application2 7,b7 complete ! und]writ+2 7,c7 make a det]m9ation ( eligibility ) respect to ! application2 & 7,d7 notify ! applicant ( det]m9ation4 7#b7 ,report 7,a7 ,9 g5]al ,n lat] ?an #ij days aft] ! date ( enactm5t ( ?is ,act1 & annually !reaft] until ! date describ$ 9 subp>agraph 7,b71 ! ,secret>y ( ,agriculture %all submit to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate & ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives a report t-- 7i7 details ! timel9ess ( eligibility det]m9ations & f9al det]m9ations ) respect to applications "u section #ejb & #ejd ( ! ,h\s+ ,act ( #aidi 7#db ,u4,s4,c4 #adgb1 #adgd71 includ+ ju/ifications = any eligibility det]m9ations tak+ long] ?an #ij days2 & 7ii7 includes recomm5dations to %ort5 ! timel9e = notifications ( eligibility det]m9ations describ$ 9 subp>agraph 7,a7 to n m ?an #ij days4 7,b7 ,date describ$ ,! date describ$ 9 ?is p>agraph is ! date on :i*1 dur+ ! prec$+ #e-ye> p]iod1 ! ,secret>y ( ,agriculture provides ea* eligibility det]m9ation describ$ 9 subp>agraph 7,a7 dur+ ! #ij-;day p]iod beg9n+ on ! date on :i* ea* application is receiv$4 7d7 ,,gao report on ,rural ,h\s+ ,s]vice te*nology ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all submit to ! ,congress a report t includes-- 7#a7 an analysis ( h[ ! outdat$ te*nology us$ by ! ,rural ,h\s+ ,s]vice impacts p>ticipants 9 ! programs ( ! ,rural ,h\s+ ,s]vice2 7#b7 an e/imate ( ! am\nt ( fund+ t is ne$$ to mod]nize ! te*nology us$ by ! ,rural ,h\s+ ,s]vice2 & 7#c7 an e/imate ( ! numb] & type ( new employees ! ,rural ,h\s+ ,s]vice ne$s to mod]nize ! te*nology us$ by ! ,rural ,h\s+ ,s]vice4 #bje4 ,*oice 9 ,af=dable ,h\s+ 7a7 ,preapproval ( units ,section #h7o77#h77;,a7 ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;f7o77#h77;,a77 is am5d$ by add+ at ! end ! foll[+3 7iv7 ,initial inspection prior to lease agreem5t 7,i7 ,def9ition ,9 ?is clause1 ! t]m new l&lord means an own] ( a dwell+ unit :o has n previ\sly ent]$ into a h\s+ assi/ance paym5t contract ) a public h\s+ ag5cy "u ?is subsection = any dwell+ unit4 7,,ii7 ,e>ly inspection ,^u ! reque/ ( a new l&lord1 a public h\s+ ag5cy may inspect ! dwell+ unit own$ by ! new l&lord to det]m9e :e!r ! unit meets ! h\s+ quality /&>ds "u subp>agraph 7,b7 be=e ! unit is select$ by a family assi/$ "u ?is subsection4 7,,iii7 ,effect ,an inspection conduct$ "u subclause 7,,ii7 t det]m9es t ! dwell+ unit meets ! h\s+ quality /&>ds "u subp>agraph 7,b7 %all satisfy ! requirem5ts 9 ?is subp>agraph & subp>agraph 7,c7 if ! new l&lord ent]s into a lease agreem5t ) a family assi/$ "u ?is subsection n lat] ?an #fj days aft] ! date ( ! inspection4 7,,iv7 ,in=mation :5 family is select$ ,:5 a public h\s+ ag5cy selects a family to p>ticipate 9 ! t5ant-bas$ assi/ance program "u ?is subsection1 ! public h\s+ ag5cy %all include 9 ! in=mation provid$ to ! family a li/ ( dwell+ units t h be5 inspect$ "u subclause 7,,ii7 & det]m9$ to meet ! h\s+ quality /&>ds "u subp>agraph 7,b74 4 7b7 ,satisfaction ( inspection requirem5ts ?r\gh p>ticipation 9 o!r h\s+ programs ,section #h7o77#h7 ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;f7o77#h77 is am5d$ by add+ at ! end ! foll[+3 7,i7 ,satisfaction ( inspection requirem5ts ?r\gh p>ticipation 9 o!r h\s+ programs 7i7 ,l[-income h\s+ tax cr$it-f9anc$ build+s ,a dwell+ unit %all be deem$ to meet ! inspection requirem5ts "u ?is p>agraph if-- 7,i7 ! dwell+ unit is 9 a build+1 ! acquisition1 rehabilitation1 or con/ruction ( :i* 0 f9anc$ by a p]son :o receiv$ a l[-income h\s+ tax cr$it "u section #db ( ! ,int]nal ,rev5ue ,code ( #aihf 9 ex*ange = t f9anc+2 7,,ii7 ! dwell+ unit 0 physically inspect$ & pass$ inspection z "p ( ! l[-income h\s+ tax cr$it program describ$ 9 subclause 7,i7 dur+ ! prec$+ #ab-mon? p]iod2 & 7,,iii7 ! applicable public h\s+ ag5cy is able to obta9 ! results ( ! inspection describ$ 9 subclause 7,,ii74 7ii7 ,home inve/m5t p>tn]%ips program ,a dwell+ %all be deem$ to meet ! inspection requirem5ts "u ?is p>agraph if-- 7,i7 ! dwell+ unit is assi/$ "u ! ,,home ,inve/m5t ,p>tn]%ips ,program "u title ,,ii ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act2 7,,ii7 ! dwell+ unit 0 physically inspect$ & pass$ inspection z "p ( ! program describ$ 9 subclause 7,i7 dur+ ! prec$+ #ab-mon? p]iod2 & 7,,iii7 ! applicable public h\s+ ag5cy is able to obta9 ! results ( ! inspection describ$ 9 subclause 7,,ii74 7iii7 ,rural ,h\s+ ,s]vice ,a dwell+ unit %all be deem$ to meet ! inspection requirem5ts "u ?is p>agraph if-- 7,i7 ! dwell+ unit is assi/$ by ! ,rural ,h\s+ ,s]vice ( ! ,dep>tm5t ( ,agriculture2 7,,ii7 ! dwell+ unit 0 physically inspect$ & pass$ inspection 9 connection ) ! assi/ance describ$ 9 subclause 7,i7 dur+ ! prec$+ #ab-mon? p]iod2 & 7,,iii7 ! applicable public h\s+ ag5cy is able to obta9 ! results ( ! inspection describ$ 9 subclause 7,,ii74 7iv7 ,remote or video inspections ,:5 comply+ ) inspection requirem5ts = a h\s+ unit locat$ 9 a rural or small area us+ assi/ance "u ?is subtitle1 ! ,secret>y may all[ a grantee to conduct a remote or video inspection ( a unit provid$ t ! remote or video inspection-- 7,i7 cov]s a sub/antially simil> review ( ! relevant aspects ( ! unit comp>$ to an 9-p]son inspection2 7,,ii7 does n misrepres5t ! condition ( ! unit2 & 7,,iii7 provides ! in=mation necess>y to fully & accurately evaluate ! conditions ( ! unit to ensure t ! unit meets ! applicable /&>ds4 7v7 ,rule ( con/ruction ,no?+ 9 clause 7i71 7ii71 7iii71 or 7iv7 may be con/ru$ to affect ! op]ation ( a h\s+ program describ$ 91 or au?oriz$ "u a provision ( law describ$ 91 t clause4 4 ,,iii ,exp&+ ,manufactur$ & ,af=dable ,h\s+ ,f9ance ,opportunities #cja4 ,manufactur$ ,h\s+ ,innovations 7a7 ,9 g5]al ,section #fjc7f7 ( ! ,national ,manufactur$ ,h\s+ ,con/ruction & ,safety ,/&>ds ,act ( #aigd 7#db ,u4,s4,c4 #edjb7f77 is am5d$ by /rik+ on a p]man5t *assis & ins]t+ ) or )\t a p]man5t *assis4 7b7 ,/&>ds = manufactur$ homes built )\t a p]man5t *assis ,section #fjd7;a7 ( ! ,national ,manufactur$ ,h\s+ ,con/ruction & ,safety ,/&>ds ,act ( #aigd 7#db ,u4,s4,c4 #edjc7 is am5d$ by add+ at ! end ! foll[+3 7#g7 ,/&>ds = manufactur$ homes built )\t a p]man5t *assis 7,a7 ,9 g5]al ,! ,secret>y %all issue revis$ /&>ds = manufactur$ homes built )\t a p]man5t *assis & %all consult ) ! cons5sus committee 9 ! developm5t ( su* revis$ /&>ds1 us+ ! process describ$ 9 p>agraph 7#d74 7,b7 ,creat+ f9al /&>ds ,! ,secret>y %all1 aft] consult+ & conf]r+ ) ! cons5sus committee1 e/abli% /&>ds to ensure manufactur$ homes )\t a p]man5t *assis h-- 7i7 a di/9ct label to be issu$ by ! ,secret>y di/+ui%+ manufactur$ homes built )\t a p]man5t *assis f manufactur$ homes built on a p]man5t *assis2 7ii7 a data plate1 z describ$ 9 section #cbhj4e ( title #bd1 ,code ( ,f$]al ,regulations1 di/+ui%+ manufactur$ homes built )\t a p]man5t *assis f manufactur$ homes built on a p]man5t *assis2 & 7iii7 a notation on any invoice produc$ by ! manufactur] ( a manufactur$ home t is di/+ui%able f ! invoice = a manufactur$ home con/ruct$ ) a p]man5t *assis4 4 7c7 ,manufactur$ home /&>ds & c]tifications ,section #fjd ( ! ,national ,manufactur$ ,h\s+ ,con/ruction & ,safety ,/&>ds ,act ( #aigd 7#db ,u4,s4,c4 #edjc7 is am5d$ by add+ at ! end ! foll[+3 7i7 ,manufactur$ home /&>ds & c]tifications 7#a7 ,9 g5]al 7,a7 ,initial c]tification ,subject to subp>agraph 7,b71 n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is subsection1 a ,/ate %all submit to ! ,secret>y an initial c]tification t ! laws & regulations ( ! ,/ate-- 7i7 treat a manufactur$ home )\t a *assis 9 p>ity ) a manufactur$ home 7z def9$ & regulat$ by ! ,/ate72 & 7ii7 subject a manufactur$ home )\t a p]man5t *assis to ! same laws & regulations ( ! ,/ate z a manufactur$ home built on a p]man5t *assis ) respect to f9anc+1 title1 insurance1 manufacture1 sale1 taxes1 transportation1 in/allation1 & o!r areas z ! ,secret>y det]m9es1 aft] consultation ) & approval by ! cons5sus committee1 are necess>y to give effect to ! purpose ( ?is section4 7,b7 ,/ate plan submission ,any ,/ate plan submitt$ "u section #fbc7;c7 ( ! ,national ,manufactur$ ,h\s+ ,con/ruction & ,safety ,/&>ds ,act ( #aigd 7#db ,u4,s4,c4 #edbb7;c77 %all conta9 ! requir$ ,/ate c]tification "u subp>agraph 7,a7 or p>agraph 7#c7 &1 if conta9$ !re91 no additional or ,/ate c]tification "u subp>agraph 7,a7 or p>agraph 7#c74 7,c7 ,ext5d$ deadl9e ,) respect to a ,/ate ) a legislature t meets bi5nially1 ! deadl9e = ! submission ( ! initial c]tification requir$ "u subp>agraph 7,a7 %all be #b ye>s aft] ! date ( enactm5t ( ?is subsection4 7,d7 ,late c]tification 7i7 ,no waiv] ,! ,secret>y may n waive ! prohibition describ$ 9 p>agraph 7#e77;,b7 ) respect to a c]tification submitt$ aft] ! deadl9e "u subp>agraph 7,a7 or p>agraph 7#c7 unless ! ,secret>y approves ! late c]tification4 7ii7 ,rule ( con/ruction ,no?+ 9 ?is subsection %all be con/ru$ to prev5t a ,/ate f submitt+ ! initial c]tification requir$ "u subp>agraph 7,a7 aft] ! requir$ deadl9e "u t subp>agraph4 7#b7 ,=m ( ,/ate c]tification n pres5t$ 9 a ,/ate plan ,! initial c]tification requir$ "u p>agraph 7#a77;,a71 if n submitt$ ) a ,/ate plan "u p>agraph 7#a77;,b71 %all conta91 9 a =m prescrib$ by ! ,secret>y1 an atte/ation by an (ficial t ! ,/ate has tak5 ! /eps necess>y to ensure ! v]acity ( ! c]tification requir$ "u p>agraph 7#a77;,a71 includ+1 z necess>y1 by-- 7,a7 am5d+ ! def9ition ( manufactur$ home 9 ! laws & regulations ( ! ,/ate2 & 7,b7 direct+ ,/ate ag5cies to am5d ! def9ition ( manufactur$ home 9 regulations4 7#c7 ,annual rec]tification ,n lat] ?an a date to be det]m9$ by ! ,secret>y ea* ye>1 a ,/ate %all submit to ! ,secret>y an additional c]tification t-- 7,a7 confirms ! accuracy ( ! initial c]tification submitt$ "u subp>agraph 7,a7 or 7,b7 ( p>agraph 7#a72 & 7,b7 c]tifies t any new laws or regulations enact$ or adopt$ by ! ,/ate s9ce ! date ( ! previ\s c]tification d n *ange ! v]acity ( ! initial c]tification submitt$ "u p>agraph 7#a77;,a74 7#d7 ,li/ ,! ,secret>y %all publi% & ma9ta9 9 ! ,f$]al ,regi/] & on ! website ( ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t a li/ ( ,/ates t are up-to-date ) ! submission ( initial & subsequ5t c]tifications requir$ "u ?is subsection4 7#e7 ,prohibition 7,a7 ,def9ition ,9 ?is p>agraph1 ! t]m cov]$ manufactur$ home means a home t is-- 7i7 n consid]$ a manufactur$ home "u ! laws & regulations ( a ,/ate because ! home is con/ruct$ )\t a p]man5t *assis2 7ii7 consid]$ a manufactur$ home "u ! def9ition ( ! t]m 9 section #fjc2 & 7iii7 con/ruct$ aft] ! date ( enactm5t ( ?is subsection4 7,b7 ,build+1 in/allation1 & sale ,if a ,/ate does n submit a c]tification "u p>agraph 7#a77;,a7 or p>agraph 7#c7 by ! date on :i* ^? c]tifications are requir$ to be submitt$-- 7i7 ) respect to a ,/ate 9 :i* ! ,/ate adm9i/]s ! in/allation ( manufactur$ homes1 ! ,/ate %all prohibit ! manufacture1 in/allation1 or sale ( a cov]$ manufactur$ home )9 ! ,/ate2 & 7ii7 ) respect to a ,/ate 9 :i* ! ,secret>y adm9i/]s ! in/allation ( manufactur$ homes1 ! ,/ate & ! ,secret>y %all prohibit ! manufacture1 in/allation1 or sale ( a cov]$ manufactur$ home )9 ! ,/ate4 4 7d7 ,o!r ,f$]al laws regulat+ manufactur$ homes ,! ,secret>y ( ,h\s+ & ,urban ,developm5t may coord9ate ) ! heads ( o!r ,f$]al ag5cies to ensure t ,f$]al ag5cies treat a manufactur$ home 7t is def9$ 9 ,f$]al laws & regulations o!r ?an section #fjc ( ! ,national ,manufactur$ ,h\s+ ,con/ruction & ,safety ,/&>ds ,act ( #aigd 7#db ,u4,s4,c4 #edjb77 9 ! same mann] z a manufactur$ home 7t is def9$ 9 section #fjc ( ! ,national ,manufactur$ ,h\s+ ,con/ruction & ,safety ,/&>ds ,act ( #aigd 7#db ,u4,s4,c4 #edjb771 z am5d$ by ?is ,act4 7e7 ,assi/ance to ,/ates ,section #fji ( ! ,national ,manufactur$ ,h\s+ ,con/ruction & ,safety ,/&>ds ,act ( #aigd 7#db ,u4,s4,c4 #edjh7 is am5d$-- 7#a7 9 p>agraph 7#a71 by /rik+ & at ! end2 7#b7 9 p>agraph 7#b71 by /rik+ ! p]iod at ! end & ins]t+ 2 &2 & 7#c7 by add+ at ! end ! foll[+3 7#c7 model guidance to support ! submission ( ! c]tification requir$ "u section #fjd7;i74 4 7f7 ,preemption ,no?+ 9 ?is section or ! am5dm5ts made by ?is section may be con/ru$ z limit+ ! scope ( ,f$]al preemption "u section #fjd7;d7 ( ! ,national ,manufactur$ ,h\s+ ,con/ruction & ,safety ,/&>ds ,act ( #aigd 7#db ,u4,s4,c4 #edjc7;d774 7g7 ,prim>y au?ority to e/abli% manufactur$ home con/ruction & safety /&>ds ,! ,national ,manufactur$ ,h\s+ ,con/ruction & ,safety ,/&>ds ,act ( #aigd 7#db ,u4,s4,c4 #edja et seq47 is fur!r am5d$-- 7#a7 9 section #fjc7g71 by ins]t+ en]gy effici5cy1 aft] design12 & 7#b7 9 section #fjd1 by add+ at ! end ! foll[+3 7j7 ,prim>y au?ority to e/abli% /&>ds 7#a7 ,9 g5]al ,! ,secret>y %all h ! prim>y au?ority to e/abli% ,f$]al manufactur$ home con/ruction & safety /&>ds4 7#b7 ,approval f ,secret>y 7,a7 ,9 g5]al ,! head ( any ,f$]al ag5cy t seeks to e/abli% a manufactur$ home con/ruction & safety /&>d on or aft] ! date ( ! enactm5t ( ?is subsection-- 7i7 %all submit to ! ,secret>y a proposal describ+ su* /&>d2 & 7ii7 may n e/abli% su* /&>d )\t approval f ! ,secret>y4 7,b7 ,rejection ( /&>ds ,! ,secret>y %all reject a /&>d submitt$ to ! ,secret>y = approval "u subp>agraph 7,a7-- 7i7 if ! /&>d w\ld significantly increase ! co/ ( produc+ manufactur$ homes1 z det]m9$ by ! ,secret>y2 7ii7 if ! /&>d w\ld conflict ) exi/+ manufactur$ home con/ruction & safety /&>ds e/abli%$ by ! ,secret>y2 or 7iii7 = any o!r reason z det]m9$ appropriate by ! ,secret>y4 7,c7 ,rule ( con/ruction ,no?+ 9 ?is subsection may be con/ru$ to require ! ,secret>y to e/abli% new or revis$ ,f$]al manufactur$ home con/ruction & safety /&>ds4 4 #cjb4 ,,fha small-doll> mortgages 7a7 ,9 g5]al ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is section1 ! ,secret>y ( ,h\s+ & ,urban ,developm5t1 act+ ?r\gh ! ,f$]al ,h\s+ ,commission]1 may e/abli% a pilot program to increase access to small-doll> mortgages = mortgagors :i* may include-- 7#a7 au?oriz+ direct paym5ts to mortgagees to inc5tivize ! orig9ation ( small-doll> mortgages2 7#b7 adju/+ t]ms & co/s impos$ by ! ,f$]al ,h\s+ ,adm9i/ration ) respect to small-doll> mortgages2 7#c7 provid+ direct grants = mortgagors :o obta9 small-doll> mortgages to cov] co/s associat$ )-- 7,a7 d[n paym5ts2 7,b7 clos+ co/s2 7,c7 appraisals2 & 7,d7 title insurance2 7#d7 conduct+ outrea* to pot5tial mortgagors ab\t ! availability ( small-doll> mortgages2 & 7#e7 provid+ te*nical assi/ance = mortgagees t orig9ate small-doll> mortgages4 7b7 ,report ,beg9n+ n lat] ?an #a ye> aft] ! e/abli%m5t ( ! pilot program "u subsection 7a7 & end+ #a ye> aft] ! sunset ( ! pilot program1 ! ,f$]al ,h\s+ ,commission] %all submit to ! ,congress an annual report t-- 7#a7 tracks & evaluates ! outcomes ( small-doll> mortgages orig9at$ by mortgagees z a result ( support provid$ "u subsection 7a72 7#b7 analyzes risks ( ! pilot program to ! solv5cy ( ! ,mutual ,mortgage ,insurance ,fund2 7#c7 includes data ) respect to-- 7,a7 ! numb] ( small-doll> mortgages orig9at$ 9 ! #aj-ye> p]iod prec$+ ! date ( ! enactm5t ( ?is section1 includ+ small-doll> mortgages insur$ or gu>ante$ by ! ,f$]al ,gov]nm5t & small-doll> mortgages n insur$ by ! ,f$]al ,gov]nm5t2 7,b7 ! orig9al pr9cipal balance ( ea* small-doll> mortgage id5tifi$ "u subp>agraph 7,a72 7,c7 demographic in=mation ab\t ! mortgagors associat$ ) ea* su* small-doll> mortgages2 & 7,d7 ! numb] & type ( mortgagees t (f] small-doll> mortgages2 7#d7 provides a description ( ! fix$ co/s t are associat$ ) mortgages & ! impact ( su* co/s on ! ability ( l5d]s to e>n a m>ket rate return on small-doll> mortgages2 & 7#e7 includes analysis1 by regions ( ! ,unit$ ,/ates1 includ+ rural regions1 t id5tifies regions ) ! greate/ ne$ =1 & ! highe/ likelihood (1 ! orig9ation ( small-doll> mortgages & regions t c\ld b5efit ! mo/ f increas$ availability ( small-doll> mortgages4 7c7 ,sunset ,! pilot program e/abli%$ "u subsection 7a7 %all t]m9ate on ! date t is #d ye>s aft] ! date on :i* ! pilot program is e/abli%$ "u subsection 7a74 7d7 ,expiration ( au?ority ,aft] ! expiration ( ! #c-ye> p]iod beg9n+ on ! date ( enactm5t ( ?is section1 nei!r ! ,f$]al ,h\s+ ,commission] nor ! ,secret>y ( ,h\s+ & ,urban ,developm5t may newly e/abli% a pilot program to increase access to small-doll> mortgages = mortgagors4 7e7 ,small-doll> mortgage def9$ ,! t]m small-doll> mortgage means a mortgage t-- 7#a7 has an orig9al pr9cipal balance ( #ajj1jjj or less2 & 7#b7 is secur$ by a #a- to #d-unit prop]ty t is ! pr9cipal resid5ce ( ! mortgagor4 #cjc4 ,community inve/m5t & prosp]ity 7a7 ,revis$ /atutes ,! p>agraph designat$ z ! ,elev5? ( section #eacf ( ! ,revis$ ,/atutes ( ! ,unit$ ,/ates 7#ab ,u4,s4,c4 #bd7 is am5d$1 9 ! fif? s5t5ce1 by /rik+ #ae ea* place x appe>s & ins]t+ #bj4 7b7 ,f$]al ,res]ve ,act ,section #i7bc7 ( ! ,f$]al ,res]ve ,act 7#ab ,u4,s4,c4 #cch;a7 is am5d$1 9 ! fif? s5t5ce1 by /rik+ #ae ea* place x appe>s & ins]t+ #bj4 7c7 ,/udy ,n lat] ?an #b ye>s aft] ! date ( ! enactm5t ( ?is section1 & e #b ye>s !reaft]1 ! ,comptroll] ( ! ,curr5cy & ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em %all ea* submit to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate1 a report1 aft] consult+ ) ! o!r ag5cy 9 ! developm5t ( su* report1 ab\t public welf>e inve/m5ts t 7 made by associations "u section #eacf ( ! ,revis$ ,/atutes ( ! ,unit$ ,/ates & ,/ate memb] banks "u section #i7bc7 ( ! ,f$]al ,res]ve ,act 9 ! #b previ\s cal5d> ye>s1 t-- 7#a7 id5tifies ! numb] ( su* inve/m5ts1 brok5 d[n by-- 7,a7 purpose2 7,b7 type2 7,c7 am\nt ( assets ( ! association or ,/ate memb] bank t made ! inve/m5t1 us+ n less ?an #d categories to describe ! am\nt ( assets ( ! associations & banks2 & 7,d7 ,/ate1 or o!r location2 7#b7 id5tifies ! doll> am\nts ( su* inve/m5ts1 brok5 d[n by-- 7,a7 purpose2 7,b7 type2 7,c7 am\nt ( assets ( ! association or ,/ate memb] bank t made ! inve/m5t1 us+ n less ?an #d categories to describe ! am\nt ( assets ( ! associations & banks2 & 7,d7 ,/ate or o!r location2 & 7#c7 = ea* type ( public welf>e inve/m5t id5tifi$ "u p>agraphs 7#a7 & 7#b71 a description ( ! sub/antive & proc$ural requirem5ts t apply to ea* type ( inve/m5t made "u-- 7,a7 9 ! case ( a report by ! ,comptroll] ( ! ,curr5cy1 section #eacf ( ! ,revis$ ,/atutes ( ! ,unit$ ,/ates2 or 7,b7 9 ! case ( a report by ! ,bo>d ( ,gov]nors1 section #i7bc7 ( ! ,f$]al ,res]ve ,act4 ,,iv ,protect+ ,borr[]s & ,assi/$ ,families #dja4 ,exclusion ( c]ta9 disability b5efits 7a7 ,9 g5]al ,section #c7;b77#d77;,b7 ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;a7b77#d77;,b77 is am5d$-- 7#a7 by r$esignat+ clauses 7iv7 & 7v7 z clauses 7vi7 & 7vii71 respectively2 & 7#b7 by ins]t+ aft] clause 7iii7 ! foll[+3 7iv7 ) respect to ! support$ h\s+ program "u section #h7o77#ai71 any disability b5efits receiv$ "u *apt] #aa or *apt] #ae ( title #ch1 ,unit$ ,/ates ,code1 receiv$ by a vet]an1 except t ?is exclusion may n apply to ! def9ition ( adju/$ income2 7v7 ) respect to any h\sehold receiv+ r5tal assi/ance "u ! support$ h\s+ program "u section #h7o77#ai7 z x relates to eligibility = o!r types ( h\s+ assi/ance1 any disability b5efits receiv$ "u *apt] #aa or *apt] #ae ( title #ch1 ,unit$ ,/ates ,code1 receiv$ by a vet]an1 except t ?is exclusion may n apply to ! def9ition ( adju/$ income2 4 7b7 ,treatm5t ( c]ta9 disability b5efits ,:5 det]m9+ ! eligibility ( a vet]an to r5t a resid5tial dwell+ unit con/ruct$ on ,dep>tm5t prop]ty on or aft] ! date ( ! enactm5t ( ?is ,act1 = :i* assi/ance is provid$ z "p ( a h\s+ assi/ance program adm9i/]$ by ! ,secret>y ( ,h\s+ & ,urban ,developm5t & n yet 9 exi/5ce at ! "t ( ! enactm5t ( ?is section1 ! ,secret>y %all exclude f income any disability b5efits receiv$ "u *apt] #aa or *apt] #ae ( title #ch1 ,unit$ ,/ates ,code1 by su* p]son4 7c7 ,dep>tm5t prop]ty def9$ ,9 ?is section1 ! t]m ,dep>tm5t prop]ty has ! mean+ giv5 ! t]m 9 section #ija ( title #ch1 ,unit$ ,/ates ,code4 #djb4 ,milit>y s]vice "q 7a7 ,9 g5]al ,subp>t ,a ( "p #b ( ! ,f$]al ,h\s+ ,ent]prises ,f9ancial ,safety & ,s\ndness ,act ( #aiib 7#ab ,u4,s4,c4 #deda et seq47 is am5d$ by add+ at ! end ! foll[+3 #acbi4 ,uni=m resid5tial loan application ,n lat] ?an #f mon?s aft] ! date ( enactm5t ( ?is section1 ! ,director %all1 by regulation or ord]1 require ea* ent]prise to include a disclosure bel[ ! milit>y s]vice "q :i* %all be above ! signature l9e on ! =m kn[n z ! ,uni=m ,resid5tial ,loan ,application /at+1 ,if yes1 y may qualify = a ,,va ,home ,loan4 ,consult y\r l5d] reg>d+ eligibility44 4 7b7 ,,gao /udy ,n lat] ?an #ah mon?s aft] ! date ( enactm5t ( ?is ,act1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all conduct a /udy & submit to ! ,congress a report on :e!r or n less ?an #hj-p]c5t ( l5d]s us+ ! ,uni=m ,resid5tial ,loan ,application h includ$ on t =m ! disclaim] requir$ "u section #acbi ( ! ,f$]al ,h\s+ ,ent]prises ,f9ancial ,safety & ,s\ndness ,act ( #aiib1 z add$ by subsection 7a74 #djc4 ,,hud-,,usda-,,va ,int]ag5cy ,coord9ation 7a7 ,memor&um ( und]/&+ ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y ( ,h\s+ & ,urban ,developm5t1 ! ,secret>y ( ,agriculture1 & ! ,secret>y ( ,vet]ans ,affairs %all e/abli% a memor&um ( und]/&+1 or o!r appropriate int]ag5cy agreem5t1 to %>e relevant h\s+-relat$ rese>* & m>ket data t facilitates evid5ce-bas$ policymak+4 7b7 ,int]ag5cy report 7#a7 ,report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y ( ,h\s+ & ,urban ,developm5t1 ! ,secret>y ( ,agriculture1 & ! ,secret>y ( ,vet]ans ,affairs %all jo9tly submit to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs1 ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry1 & ! ,committee on ,vet]ans' ,affairs ( ! ,s5ate & ! ,committee on ,f9ancial ,s]vices1 ! ,committee on ,agriculture1 & ! ,committee on ,vet]ans' ,affairs ( ! ,h\se ( ,repres5tatives a report t describes opportunities = increas$ collaboration betwe5 ! ,secret>y ( ,h\s+ & ,urban ,developm5t1 ! ,secret>y ( ,agriculture1 & ! ,secret>y ( ,vet]ans ,affairs to improve effici5cies 9 h\s+ programs4 7#b7 ,publication ,! report requir$ "u p>agraph 7#a7 %all1 prior to submission1 be publi%$ 9 ! ,f$]al ,regi/] & op5 = comm5t = a p]iod ( #cj days4 #djd4 ,family self-suffici5cy escr[ expansion pilot program ,title ,i ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg et seq47 is am5d$ by add+ at ! end ! foll[+3 #ci4 ,escr[ expansion pilot program 7a7 ,def9itions ,9 ?is section3 7#a7 ,cov]$ family ,! t]m cov]$ family means a family t-- 7,a7 receives assi/ance "u section #h or #i ( ?is ,act2 7,b7 is enroll$ 9 ! pilot program2 & 7,c7 has an adju/$ income t does n exce$ #hj-p]c5t ( ! area-m$ian income at ! "t ( enrollm5t 9 ! pilot program4 7#b7 ,eligible entity ,! t]m eligible entity means an entity describ$ 9 subsection 7c77#b7 ( section #bc4 7#c7 ,pilot program ,! t]m pilot program means ! pilot program e/abli%$ "u ?is section4 7#d7 ,welf>e assi/ance ,! t]m welf>e assi/ance has ! mean+ giv5 ! t]m 9 section #ihd4ajc ( title #bd1 ,code ( ,f$]al ,regulations1 or any successor regulation4 7b7 ,program e/abli%m5t ,! ,secret>y %all1 n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is section1 e/abli% a pilot program "u :i* ! ,secret>y %all select n m ?an #be eligible entities to e/abli% & manage escr[ acc\nts = n m ?an a total ( #e1jjj cov]$ families1 9 accordance ) ?is section4 7c7 ,escr[ acc\nts 7#a7 ,9 g5]al ,an eligible entity select$ to p>ticipate 9 ! pilot program-- 7,a7 %all e/abli% an int]e/-be>+ escr[ acc\nt & place into ! acc\nt an am\nt equal to any increase 9 ! am\nt ( r5t paid by ea* cov]$ family 9 accordance ) ! provisions ( section #c1 #h7o71 or #h7y71 z applicable1 t is attributable to increases 9 e>n$ income by ! cov]$ family dur+ ! p>ticipation ( su* cov]$ family 9 ! pilot program2 & 7,b7 not)/&+ any o!r provision ( law1 may use exi/+ funds made available to su* entity at any "t "u section #h or #i = ! purposes ( mak+ ! escr[ deposit = a cov]$ family assi/$ "u1 or resid+ 9 a unit assi/$ "u1 section #h or #i provid$ t su* am\nts are (fset by ! increase 9 ! am\nt ( r5t paid by ! cov]$ family4 7#b7 ,)drawals ,a cov]$ family may )draw funds1 includ+ any int]e/ e>n$1 f an escr[ acc\nt e/abli%$ by an eligible entity "u ! pilot program = su* cov]$ family-- 7,a7 aft] ! cov]$ family ceases to receive welf>e assi/ance2 & 7,b7 7i7 n e>li] ?an ! date t is #e ye>s aft] ! date on :i* ! eligible entity e/abli%es ! escr[ acc\nt "u ?is subsection2 7ii7 n lat] ?an ! date t is #g ye>s aft] ! date on :i* ! eligible entity e/abli%es ! escr[ acc\nt "u ?is subsection1 if ! cov]$ family *ooses to cont9ue to p>ticipate 9 ! pilot program aft] ! date t is #e ye>s aft] ! date on :i* ! eligible entity e/abli%es ! escr[ acc\nt2 7iii7 on ! date ! cov]$ family ceases to receive h\s+ assi/ance "u section #h or #i1 if su* date is e>li] ?an #e ye>s aft] ! date on :i* ! eligible entity e/abli%es ! escr[ acc\nt2 7iv7 e>li] ?an #e ye>s aft] ! date on :i* ! eligible entity e/abli%es ! escr[ acc\nt1 if ! cov]$ family is us+ ! funds to advance a self-suffici5cy goal z approv$ by ! eligible entity2 or 7v7 "u o!r circum/ances = good cause z det]m9$ by ! ,secret>y4 7#c7 ,int]im rec]tification ,= ! purposes ( ! pilot program e/abli%$ "u ?is section1 a cov]$ family %all rec]tify ! income ( su* family n less ?an once ea* ye>4 7#d7 ,contract or plan ,an eligible entity may n require a cov]$ family to-- 7,a7 complete a contract t requires ! p>ticipation ( ! cov]$ family 9 ! pilot program e/abli%$ "u ?is section2 or 7,b7 p>ticipate 9 any individual tra9+ or s]vices plan z a condition = p>ticipat+ 9 ! pilot program4 7d7 ,effect ( increases 9 family income ,! am\nt equal to any increase 9 ! e>n$ income ( a cov]$ family f ! date ( enrollm5t ( ! cov]$ family 9 ! pilot program e/abli%$ "u ?is section ?r\gh ! date all funds are )drawn f ! escr[ acc\nt e/abli%$ = su* family "u ?is section may n be consid]$ z income or a res\rce = purposes ( eligibility ( ! cov]$ family = o!r b5efits1 or am\nt ( b5efits payable to ! family1 "u any program adm9i/]$ by ! ,secret>y4 7e7 ,application 7#a7 ,9 g5]al ,an eligible entity seek+ to p>ticipate 9 ! pilot program %all submit to ! ,secret>y an application-- 7,a7 at su* "t1 9 su* mann]1 & conta9+ su* in=mation z ! ,secret>y may require by notice2 & 7,b7 t includes ! numb] ( cov]$ families to :i* ! eligible entity int5ds to provide escr[ acc\nts "u ?is section4 7#b7 ,geographic & entity v>iety ,! ,secret>y %all ensure t eligible entities select$ to p>ticipate 9 ! pilot program-- 7,a7 are locat$ across v>i\s ,/ates & 9 bo? urban & rural areas2 & 7,b7 v>y by size & type1 includ+ bo? public h\s+ ag5cies & private own]s ( projects receiv+ project-bas$ r5tal assi/ance "u section #h4 7f7 ,notification & opt-out ,an eligible entity p>ticipat+ 9 ! pilot program %all-- 7#a7 notify ea* cov]$ family ( _! enrollm5t 9 ! pilot program2 7#b7 provide ea* cov]$ family ) a detail$ description ( ! pilot program1 includ+ h[ ! pilot program w impact _! r5t & f9ances2 7#c7 in=m ea* cov]$ family t ! family may n simultane\sly p>ticipate 9 ! pilot program & ! ,family ,self-,suffici5cy program "u ?is section2 & 7#d7 provide ea* cov]$ family ) ! ability to elect n to p>ticipate 9 ! pilot program-- 7,a7 n less ?an #b weeks be=e ! date on :i* ! escr[ acc\nt is e/abli%$ "u subsection 7c72 & 7,b7 at any po9t dur+ ! duration ( ! pilot program4 7g7 ,maximum r5ts ,dur+ ! t]m ( p>ticipation by a cov]$ family 9 ! pilot program1 ! am\nt ( r5t paid by ! cov]$ family %all be calculat$ "u ! section #c or #h7o71 z applicable4 7h7 ,pilot program timel9e 7#a7 ,aw>ds ,n lat] ?an #ah mon?s aft] ! date ( enactm5t ( ?is section1 ! ,secret>y %all select ! eligible entities to p>ticipate 9 ! pilot program4 7#b7 ,e/abli%m5t & t]ms ( acc\nts ,an eligible entity select$ to p>ticipate 9 ! pilot program %all-- 7,a7 n lat] ?an #f mon?s aft] selection1 e/abli% escr[ acc\nts "u subsection 7c7 = cov]$ families2 & 7,b7 ma9ta9 ^? escr[ acc\nts = n less ?an #e ye>s1 or until ! date ! family ceases to receive assi/ance "u section #h or #i1 &1 at ! discretion ( ! cov]$ family1 n m ?an #g ye>s aft] ! date on :i* ! escr[ acc\nt is e/abli%$4 7i7 ,nonp>ticipation & h\s+ assi/ance 7#a7 ,9 g5]al ,a family t elects n to p>ticipate 9 ! pilot program may n be delay$ or d5i$ assi/ance "u section #h or #i = reason ( su* election4 7#b7 ,no t]m9ation ,h\s+ assi/ance may n be t]m9at$ z a consequ5ce ( p>ticipat+1 or n p>ticipat+1 9 ! pilot program "u ?is section = any p]iod ( "t4 7j7 ,/udy ,n lat] ?an #h ye>s aft] ! date ! ,secret>y selects eligible entities to p>ticipate 9 ! pilot program "u ?is section1 ! ,secret>y %all conduct a /udy & submit to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate & ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives a report on outcomes = cov]$ families t p>ticipat$ 9 ! pilot program1 :i* %all evaluate ! effectiv5ess ( ! pilot program 9 assi/+ families to a*ieve economic indep5d5ce & self-suffici5cy1 & ! impact coa*+ & supportive s]vices1 or ! lack !re(1 _h on individual incomes4 7k7 ,waiv]s ,! ,secret>y may1 ^u ! writt5 reque/ ( an eligible entity receiv+ am\nts "u ?is section1 waive requirem5ts "u ?is section t relate to ! adm9i/ration ( ! pilot program = ! eligible entity t submitt$ ! reque/ if su* waiv] w\ld all[ su* eligible entity to effectively adm9i/] ! pilot program & make ! requir$ escr[ acc\nt deposits "u ?is section4 7l7 ,t]m9ation ,! pilot program e/abli%$ "u ?is section %all t]m9ate on ! date t is #g ye>s aft] ! date ( enactm5t ( ?is section4 4 #dje4 ,re=ms to h\s+ c\nsel+ & f9ancial lit]acy programs 7a7 ,9 g5]al ,section #ajf ( ! ,h\s+ & ,urban ,developm5t ,act ( #aifh 7#ab ,u4,s4,c4 #agjax7 is am5d$-- 7#a7 9 subsection 7a77#d77;,c71 by /rik+ adequate di/ribution & all t foll[s ?r\gh =eclosure rates & ins]t+ t ! recipi5ts are geographically div]se & include organizations t s]ve urban or rural areas2 7#b7 9 subsection 7e71 by add+ at ! end ! foll[+3 7#f7 ,p]=mance review ,! ,secret>y-- 7,a7 may conduct p]iodic reviews2 & 7,b7 %all conduct p]=mance reviews ( all organizations receiv+ assi/ance "u ?is section t-- 7i7 consi/ ( a review ( ! organization's or entity's compliance ) all program requirem5ts2 & 7ii7 may take into acc\nt ! organization's or entity's aggregate c\nselor p]=mance "u p>agraph 7#g77;,b74 7#g7 ,consid]ations 7,a7 ,cov]$ mortgage loan def9$ ,9 ?is p>agraph1 ! t]m cov]$ mortgage loan means any loan :i* is secur$ by a fir/ or subord9ate li5 on resid5tial real prop]ty 7includ+ individual units ( condom9iums & coop]atives7 design$ pr9cipally = ! occupancy ( betwe5 #a & #d families t is-- 7i7 insur$ by ! ,f$]al ,h\s+ ,adm9i/ration "u title ,,ii ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agjg et seq472 or 7ii7 gu>ante$ "u section #ahd or #ahd;,a ( ! ,h\s+ & ,community ,developm5t ,act ( #aiib 7#ab ,u4,s4,c4 #agaez-#ac;a1 #agaez-#ac;b74 7,b7 ,comp>ison ,= ea* c\nselor employ$ by an organization receiv+ assi/ance "u ?is section = pre-pur*ase h\s+ c\nsel+1 ! ,secret>y may consid] ! p]=mance ( ! c\nselor comp>$ to ! default rate ( all c\nsel$ borr[]s ( a cov]$ mortgage loan 9 comp>able m>kets & su* o!r factors z ! ,secret>y det]m9es appropriate to fur!r ! purposes ( ?is section4 7#h7 ,c]tification ,if1 bas$ on ! comp>ison requir$ "u p>agraph 7#g77;,b71 ! ,secret>y det]m9es t a c\nselor lacks compet5ce to provide c\nsel+ 9 ! areas describ$ 9 subsection 7e77#b7 & su* action w n create a significant loss ( capacity = h\s+ c\nsel+ s]vices 9 ! s]vice area1 ! ,secret>y may-- 7,a7 require cont9u$ education c\pl$ ) successful completion ( a probation>y p]iod2 7,b7 require rete/+ if ! c\nselor cont9ues to demon/rate a lack ( compet5ce "u p>agraph 7#g77;,b72 & 7,c7 susp5d an individual c]tification if a c\nselor fails to demon/rate compet5ce aft] n few] ?an #b rete/+ opportunities "u subp>agraph 7,b74 2 7#c7 9 subsection 7i7-- 7,a7 by r$esignat+ p>agraph 7#c7 z p>agraph 7#d72 & 7,b7 by ins]t+ aft] p>agraph 7#b7 ! foll[+3 7#c7 ,t]m9ation ( assi/ance 7,a7 ,9 g5]al ,! ,secret>y may d5y r5ewal ( cov]$ assi/ance to an organization or entity receiv+ cov]$ assi/ance if ! ,secret>y det]m9es t ! organization or entity1 or ! individual ?r\gh :i* ! organization or entity provides c\nsel+1 is n 9 compliance ) program requirem5ts-- 7i7 bas$ on ! p]=mance review describ$ 9 subsection 7e77#f72 & 7ii7 9 accordance ) exi/+ regulations issu$ by ! ,secret>y4 7,b7 ,notice ,! ,secret>y %all give an organization or entity receiv+ cov]$ assi/ance n less ?an #fj days prior writt5 notice ( any d5ial ( r5ewal "u ?is p>agraph1 & ! det]m9ation ( r5ewal %all n be f9aliz$ until ! end ( t notice p]iod4 7,c7 ,in=mal conf]5ce ,if reque/$ 9 writ+ by ! organization or entity )9 ! notice p]iod describ$ 9 subp>agraph 7,b71 ! organization or entity %all be entitl$ to an in=mal conf]5ce ) ! ,deputy ,assi/ant ,secret>y ( ,h\s+ ,c\nsel+ on behalf ( ! ,secret>y at :i* ! organization or entity may pres5t = consid]ation specific factors t ! organization or entity believes 7 beyond ! control ( ! organization or entity & t caus$ ! failure to comply ) program requirem5ts1 su* z a lack ( l5d] or s]vic] coord9ation or communication ) h\s+ c\nsel+ ag5cies & individual c\nselors4 2 & 7#d7 by add+ at ! end ! foll[+3 7j7 ,(f]+ =eclosure mitigation c\nsel+ 7#a7 ,cov]$ mortgage loan def9$ ,9 ?is subsection1 ! t]m cov]$ mortgage loan means any loan :i* is secur$ by a fir/ or subord9ate li5 on resid5tial real prop]ty 7includ+ individual units ( condom9iums & h\s+ coop]atives7 or /ock or memb]%ip 9 a coop]ative own]%ip h\s+ corporation design$ pr9cipally = ! occupancy ( betwe5 #a & #d families t is-- 7,a7 insur$ by ! ,f$]al ,h\s+ ,adm9i/ration "u title ,,ii ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agjg et seq472 7,b7 gu>ante$ "u section #ahd or #ahd;,a ( ! ,h\s+ & ,community ,developm5t ,act ( #aiib 7#ab ,u4,s4,c4 #agaez-#ac;a1 #agaez-#ac;b72 7,c7 made1 gu>ante$1 or insur$ by ! ,dep>tm5t ( ,vet]ans ,affairs2 or 7,d7 made1 gu>ante$1 or insur$ by ! ,dep>tm5t ( ,agriculture4 7#b7 ,opportunity = borr[]s ,a borr[] ) respect to a cov]$ mortgage loan :o is #cj days or m del9qu5t on paym5ts = ! cov]$ mortgage loan %all be giv5 an opportunity to p>ticipate 9 available h\s+ c\nsel+4 7#c7 ,co/ ,if ! requirem5ts ( sections #bjb7;a77#c7 & #bje7;f7 ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agjh7;a77#c71 #agaa7;f77 are met1 ! fair m>ket rate co/ ( c\nsel+ = del9qu5t borr[]s describ$ 9 p>agraph 7#b7 ) respect to a cov]$ mortgage loan describ$ 9 p>agraph 7#a77;,a7 %all be paid = by ! ,mutual ,mortgage ,insurance ,fund1 z au?oriz$ "u section #bjc7r77#d7 ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agji7r77#d774 4 #djf4 ,e/abli%m5t ( eviction helpl9e 7a7 ,9 g5]al ,! ,secret>y ( ,h\s+ & ,urban ,developm5t %all1 n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is ,act1 e/abli% a program-- 7#a7 to e/abli% a hotl9e to provide t5ants ( cov]$ f$]ally assi/$ r5tal dwell+ units ) c\nsel+1 res\rces1 & ref]rals to available assi/ance relat+ to eviction-relat$ matt]s2 & 7#b7 to provide in=mation ab\t su* hotl9e to t5ants ( cov]$ f$]ally assi/$ r5tal dwell+ units by publi%+ in=mation ab\t su* hotl9e 9 common areas ( ea* f$]ally assi/$ r5tal dwell+s & ?r\gh o!r means det]m9$ appropriate by ! ,secret>y4 7b7 ,sunset ,! program e/abli%$ "u ?is section %all t]m9ate on ! date t is #g ye>s aft] ! date ( ! enactm5t ( ?is section4 7c7 ,def9itions ,9 ?is section3 7#a7 ,assi/ance ,! t]m assi/ance means any grant1 loan1 subsidy1 contract1 coop]ative agreem5t1 or o!r =m ( f9ancial assi/ance1 b su* t]m does n include ! insurance or gu>antee ( a loan1 mortgage1 or pool ( loans or mortgages4 7#b7 ,cov]$ f$]ally assi/$ r5tal dwell+ unit ,! t]m cov]$ f$]ally assi/$ r5tal dwell+ unit means a resid5tial dwell+ unit-- 7,a7 t is made available = r5tal2 & 7,b7 7i7 = :i* assi/ance is provid$1 or t is "p ( a h\s+ project = :i* assi/ance is provid$1 "u any program adm9i/]$ by ! ,secret>y ( ,h\s+ & ,urban ,developm5t1 includ+-- 7,i7 ! public h\s+ program "u ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg et seq472 7,,ii7 ! program = r5tal assi/ance "u section #h ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;f72 7,,iii7 ! ,,home ,inve/m5t ,p>tn]%ips program "u title ,,ii ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abgba et seq472 7,,iv7 title ,,iv ( ! ,mc,kinney-,v5to ,homeless ,assi/ance ,act 7#db ,u4,s4,c4 #aacfj et seq472 7,v7 ! ,h\s+ ,tru/ ,fund program "u section #acch ( ! ,h\s+ & ,community ,developm5t ,act ( #aiib 7#ab ,u4,s4,c4 #defh72 7,,vi7 ! program = supportive h\s+ = ! eld]ly "u section #bjb ( ! ,h\s+ ,act ( #aiei 7#ab ,u4,s4,c4 #agjaq72 7,,vii7 ! program = supportive h\s+ = p]sons ) disabilities "u section #haa ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #hjac72 7,,viii7 ! ,,aids ,h\s+ ,opportunities program "u subtitle ,d ( title ,,viii ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #abija et seq472 7,,ix7 ! program = ,native ,am]ican h\s+ "u ! ,native ,am]ican ,h\s+ ,assi/ance & ,self-,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4 #daja et seq472 & 7,x7 ! program = h\s+ assi/ance = ,native ,hawaiians "u title ,,viii ( ! ,native ,am]ican ,h\s+ ,assi/ance & ,self-,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4 #dbba et seq472 or 7ii7 t is a prop]ty1 or is on or 9 a prop]ty1 t has a f$]ally back$ mortgage loan or f$]ally back$ multifamily mortgage loan1 z su* t]ms are def9$ 9 section #djbd7;a7 ( ! ,,c>es ,act 7#ae ,u4,s4,c4 #ijeh7;a774 #djg4 ,temp]ature ,s5sor pilot program 7a7 ,9 g5]al ,! ,secret>y ( ,h\s+ & ,urban ,developm5t %all e/abli% a temp]ature s5sor pilot program to provide grants to public h\s+ ag5cies & own]s ( cov]$ f$]ally assi/$ r5tal dwell+ units to acquire1 in/all1 & te/ ! efficacy ( approv$ temp]ature s5sors 9 resid5tial dwell+ units to ensure su* units rema9 9 compliance ) temp]ature requirem5ts4 7b7 ,eligibility 7#a7 ,9 g5]al ,! ,secret>y %all1 n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is ,act1 e/abli% eligibility crit]ia = public h\s+ ag5cies & own]s ( cov]$ f$]ally assi/$ r5tal dwell+ units to p>ticipate 9 ! pilot program e/abli%$ pursuant to subsection 7a74 7#b7 ,crit]ia ,9 e/abli%+ ! eligibility crit]ia describ$ 9 p>agraph 7#a71 ! ,secret>y %all ensure-- 7,a7 ! pilot program includes a div]se range ( p>ticipants t repres5t diff]5t geographic regions1 climate regions1 unit sizes1 & types ( h\s+2 & 7,b7 t ! functionality ( an approv$ temp]ature s5sor w be in/all$ & te/$ us+ am\nts aw>d$ "u ?is section1 includ+ int]net connectivity requirem5ts4 7c7 ,in/allation ,ea* public h\s+ ag5cy or own] ( a cov]$ f$]ally assi/$ r5tal dwell+ unit t acquires #a or m approv$ temp]ature s5sors "u ?is section %all1 aft] receiv+ writt5 p]mission f ! resid5t ( a dwell+ unit1 in/all su* temp]ature s5sor & monitor ! data f su* temp]ature s5sor4 7d7 ,collection ( compla9t records 7#a7 ,9 g5]al ,ea* public h\s+ ag5cy or own] ( a cov]$ f$]ally assi/$ r5tal dwell+ unit t in/alls #a or m approv$ temp]ature s5sors "u ?is section %all collect & reta9 in=mation ab\t temp]ature-relat$ compla9ts & violations4 7#b7 ,def9itions ,! ,secret>y %all1 n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is ,act1 def9e ! t]ms temp]ature-relat$ compla9ts & temp]ature-relat$ violations = ! purposes ( ?is section4 7e7 ,data collection 7#a7 ,9 g5]al ,data collect$ f temp]ature s5sors acquir$ & in/all$ by public h\s+ ag5cies & own]s ( cov]$ f$]ally assi/$ r5tal dwell+ units "u ?is section %all be reta9$ until ! ,secret>y notifies ! public h\s+ ag5cy or own] t ! pilot program & ! evaluation ( ! pilot program are complete4 7#b7 ,p]sonally id5tifiable in=mation ,! ,secret>y %all1 n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is ,act1 e/abli% /&>ds = ! protection ( p]sonally id5tifiably in=mation collect$ dur+ ! pilot program by public h\s+ ag5cies1 own]s ( f$]ally assi/$ r5tal dwell+ units1 & ! ,secret>y4 7f7 ,pilot program evaluation 7#a7 ,int]im evaluation ,n lat] ?an #ab mon?s aft] ! e/abli%m5t ( ! pilot program "u ?is section1 ! ,secret>y %all publicly publi% & submit to ! ,congress a report t-- 7,a7 exam9es ! numb] ( temp]ature-relat$ compla9ts & violations 9 f$]ally assi/$ r5tal dwell+ units ) temp]ature s5sors1 disaggregat$ by temp]ature s5sor te*nology & climate region-- 7i7 t occurr$ be=e ! in/allation ( su* s5sor1 if kn[n2 & 7ii7 t occurr$ aft] ! in/allation ( su* s5sor2 & 7,b7 id5tifies any b>ri]s to full utility ( temp]ature s5sor capabilities1 includ+ broadb& int]net access & t5ant p>ticipation4 7#b7 ,f9al evaluation ,n lat] ?an #cf mon?s aft] ! conclusion ( ! pilot program e/abli%$ by ! ,secret>y "u ?is section1 ! ,secret>y %all publicly publi% & submit to ! ,congress a report t-- 7,a7 exam9es ! numb] ( temp]ature-relat$ compla9ts & violations 9 f$]ally assi/$ r5tal dwell+ units ) temp]ature s5sors1 disaggregat$ by temp]ature s5sor te*nology & climate region-- 7i7 t occurr$ be=e ! in/allation ( su* s5sor2 & 7ii7 t occurr$ aft] ! in/allation ( su* s5sor2 7,b7 id5tifies any b>ri]s to full utility ( temp]ature s5sor capabilities1 includ+ broadb& int]net access & t5ant p>ticipation2 & 7,c7 comp>es ! utility ( v>i\s temp]ature s5sor te*nologies bas$ on-- 7i7 climate zones2 7ii7 co/2 7iii7 features2 & 7iv7 any o!r factors id5tifi$ by ! ,secret>y4 7g7 ,sunset ,! pilot program e/abli%$ "u ?is section %all t]m9ate on ! date t is #c ye>s aft] ! date ( ! enactm5t ( ?is section4 7h7 ,def9itions ,= ! purposes ( ?is section3 7#a7 ,approv$ temp]ature s5sor ,! t]m approv$ temp]ature s5sor means an int]net capable temp]ature report+ device able to measure ambi5t air temp]ature to ! t5? degree ,fahr5heit & ,celsius select$ f a li/ ( su* devices approv$ 9 advance by ! ,secret>y4 7#b7 ,assi/ance ,! t]m assi/ance means any grant1 loan1 subsidy1 contract1 coop]ative agreem5t1 or o!r =m ( f9ancial assi/ance1 b su* t]m does n include ! insurance or gu>antee ( a loan1 mortgage1 or pool ( loans or mortgages4 7#c7 ,cov]$ f$]ally assi/$ r5tal dwell+ unit ,! t]m cov]$ f$]ally assi/$ r5tal dwell+ unit means a resid5tial dwell+ unit t is made available = r5tal & = :i* assi/ance is provid$1 or t is "p ( a h\s+ project = :i* assi/ance is provid$1 "u-- 7,a7 ! program = project-bas$ r5tal assi/ance "u section #h ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;f72 7,b7 ! public h\s+ program "u ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg et seq472 7,c7 ! program = supportive h\s+ = ! eld]ly "u section #bjb ( ! ,h\s+ ,act ( #aiei 7#ab ,u4,s4,c4 #agjaq72 or 7,d7 ! program = supportive h\s+ = p]sons ) disabilities "u section #haa ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #hjac74 7#d7 ,own] ,! t]m own] means-- 7,a7 ) respect to ! program = project-bas$ r5tal assi/ance "u section #h ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;f71 any private p]son or entity1 includ+ a coop]ative1 an ag5cy ( ! ,f$]al ,gov]nm5t1 or a public h\s+ ag5cy1 hav+ ! legal "r to lease or sublease dwell+ units2 7,b7 ) respect to ! public h\s+ program "u ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg et seq471 a public h\s+ ag5cy or an own] entity ( public h\s+ units z def9$ 9 section #ije4ajh ( title #bd1 ,code ( ,f$]al ,regulations2 7,c7 ) respect to ! program = supportive h\s+ = ! eld]ly "u section #bjb ( ! ,h\s+ ,act ( #aiei 7#ab ,u4,s4,c4 #agjaq71 a private nonpr(it organization z def9$ "u section #bjb7k77#d7 ( ! ,h\s+ ,act ( #aiei2 & 7,d7 ) respect to ! program = supportive h\s+ = p]sons ) disabilities "u section #haa ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #hjac71 a private nonpr(it organization z def9$ "u section #haa7k77#e7 ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act4 #djh4 ,,gao /udies 7a7 ,report to ,congress ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is ,act1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all c>ry out a /udy & submit to ! ,congress a report t id5tifies options to remove b>ri]s & improve h\s+ = p]sons :o are eld]ly or disabl$1 includ+ any pot5tial impacts ( provid+ capital advances =-- 7#a7 ! program = supportive h\s+ = ! eld]ly "u section #bjb ( ! ,h\s+ ,act ( #aiei 7#ab ,u4,s4,c4 #agjaq72 & 7#b7 ! program = supportive h\s+ = p]sons ) disabilities "u section #haa ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #hjac74 7b7 ,,gao /udy to det]m9e proximity ( h\s+ to ,sup]fund sites ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is section1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all c>ry out a /udy & submit to ! ,congress a report t id5tifies h[ _m resid5tial dwell+ units1 & h[ _m dwell+ units t are a "p ( public h\s+ 7z su* t]m is def9$ 9 section #c7;b7 ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;a7b7771 are locat$ less ?an #a mile f a site t is includ$ on ! ,national ,priorities ,li/ e/abli%$ pursuant to section #aje ( ! ,compreh5sive ,environm5tal ,response1 ,comp5sation1 & ,liability ,act ( #aihj 7#db ,u4,s4,c4 #ifje74 7c7 ,report to congress ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is ,act1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all c>ry out a /udy & submit to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate a report t-- 7#a7 e/abli%es a compreh5sive def9ition ( resid5tial heirs prop]ty1 or family l& inh]it$ )\t a w or legal docum5tation ( own]%ip2 7#b7 exam9es ! occurr5ce ( & consequ5ces to own]s ( resid5tial heirs prop]ty1 & provides an e/imate reg>d+ ! numb] ( curr5t resid5tial heirs prop]ties2 7#c7 describes ! objectives & requirem5ts ( ! ,uni=m ,p>tition ( ,heirs ,prop]ty ,act z approv$ by ! ,national ,conf]5ce ( ,commission]s on ,uni=m ,/ate ,laws 9 #bjaj2 7#d7 details ! v>i\s res\rces t may be available to ! own]s ( resid5tial heirs prop]ties1 includ+ h\s+ c\nsel+1 legal s]vices1 & f9ancial assi/ance to resolve resid5tial heirs prop]ty title issues f ! ,f$]al ,gov]nm5t1 nonpr(its1 & in/itutes ( high] education2 & 7#e7 makes recomm5dations ) respect to h[ to r$uce ! numb] ( resid5tial heirs prop]ties1 includ+-- 7,a7 by inc5tiviz+ ,/ates & o!r jurisdictions :i* enact or adopt ! ,uni=m ,p>tition ( ,heirs ,prop]ty ,act or simil> su* re=ms2 7,b7 by aw>d+ grants to ,/ates & o!r jurisdictions to assi/ resid5ts ( su* ,/ates & jurisdictions to e/abli% & docum5t prop]ty own]%ip rights or settle a dec$5t's e/ate2 7,c7 by aw>d+ grants to entities :i* provide h\s+ c\nsel+1 legal assi/ance1 & f9ancial assi/ance to home[n]s & _! heirs relat+ to title cle>+ & home ret5tion ef=ts ( heirs' prop]ty & :i* t>get s]vices to l[- & mod]ate-income p]sons or provide s]vices 9 neighborhoods t h a high conc5tration ( l[- & mod]ate-income p]sons2 & 7,d7 by conduct+ o!r activities t assi/ individuals to cle> title ) respect to heirs' prop]ty & ) g5]al e/ate plann+4 ,v ,enhanc+ ,ov]sight ( ,h\s+ ,provid]s #eja4 ,requirem5t to te/ify ,section #g ( ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t ,act 7#db ,u4,s4,c4 #cece7 is am5d$ by add+ at ! end ! foll[+ new subsection3 7u7 ,annual te/imony ,! ,secret>y %all appe> be=e ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate at an annual he>+ & pres5t te/imony reg>d+ ! op]ations ( ! ,dep>tm5t dur+ ! prec$+ ye>1 includ+-- 7#a7 ! curr5t programs & op]ations ( ! ,dep>tm5t2 7#b7 ! physical condition ( all public h\s+ & o!r h\s+ assi/$ by ! ,dep>tm5t2 7#c7 ! f9ancial heal? ( ! mortgage insurance funds ( ! ,f$]al ,h\s+ ,ag5cy2 7#d7 ov]sight by ! ,dep>tm5t ( grantees & subgrantees = purposes ( prev5t+ wa/e1 fraud1 & abuse2 7#e7 ! progress made by ! ,f$]al ,gov]nm5t 9 end+ ! af=dable h\s+ & homelessness crises2 7#f7 ! capacity ( ! ,dep>tm5t to deliv] on its /atutory mission2 & 7#g7 o!r ongo+ activities ( ! ,dep>tm5t1 z appropriate4 4 #ejb4 ,improv+ public h\s+ ag5cy acc\ntability 7a7 ,9 g5]al ,! ,secret>y %all require ea* cov]$ public h\s+ ag5cy to provide a notice ea* ye> to ! ,secret>y t-- 7#a7 indicates t if a receiv] or ,f$]al monitor rema9s appo9t$ = ! cov]$ public h\s+ ag5cy z ( ,octob] #a ( ! cal5d> ye> to :i* su* notice relates2 7#b7 provides ! date on :i* ! receiv] or ,f$]al monitor 0 fir/ appo9t$ & ! project$ date1 if kn[n1 ! appo9tm5t ( ! receiv] or ,f$]al monitor w be t]m9at$2 & 7#c7 id5tifies ! curr5t receiv] or ,f$]al monitor appo9t$ to ov]see ! public h\s+ ag5cy4 7b7 ,f$]al monitor & receiv] transp>5cy 7#a7 ,not)/&+ any o!r provision ( law1 n lat] ?an ,octob] #a ( ea* ye>1 ea* receiv] or ,f$]al monitor t is curr5tly appo9t$ to ov]see a cov]$ public h\s+ ag5cy %all provide to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate a writt5 assessm5t t-- 7,a7 describes ! managem5t & ov]sight activities ( ! receiv] or ,f$]al monitor = ! cov]$ public h\s+ ag5cy2 7,b7 id5tifies ! significant factors t l$ to ! appo9tm5t ( ! receiv] or ,f$]al monitor = ! cov]$ public h\s+ ag5cy2 7,c7 id5tifies ! factors t rema9 unresolv$ at ! cov]$ public h\s+ ag5cy t h l$ to ! cont9u$ ov]sight ( ! receiv] or ,f$]al monitor2 & 7,d7 includes a timel9e develop$ by ! receiv] or ,f$]al monitor t projects :5 ! factors id5tifi$ "u subp>agraphs 7,b7 & 7,c7 w be resolv$4 7#b7 ,9 addition to ! writt5 assessm5t requir$ 9 p>agraph 7#a71 ^u writt5 reque/ by ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives or ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate1 ea* receiv] or ,f$]al monitor appo9t$ to ov]see a cov]$ public h\s+ ag5cy %all promptly furni% additional or supplem5tal in=mation reque/$ by ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives or ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate ) respect to ! cov]$ public h\s+ ag5cy :i* su* receiv] or ,f$]al monitor is appo9t$ to ov]see1 includ+ pres5t+ te/imony ^u reque/4 7c7 ,disclosure requir$ ,! ,secret>y %all1 n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is section1 require ea* cov]$ public h\s+ ag5cy to publicly disclose1 on ! website ( ! cov]$ public h\s+ ag5cy1 ) respect to ea* contract ent]$ into by su* cov]$ public h\s+ ag5cy 9 ! prec$+ ye>1 ! foll[+ in=mation3 7#a7 ,all mat]ial in=mation ab\t ! contract1 includ+ ! goods & s]vice provid$4 7#b7 ,! id5tity ( ! v5dor select$ to receive ! contract4 7#c7 ,! date ( ! solicitation ( ! contract4 7#d7 ,! relevant in=mation p]ta9+ to ! bids & quotes solicit$ = ! contract4 7#e7 ,! "n ( ! (ficial :o solicit$ ! contract4 7d7 ,inspector g5]al review ,n lat] ?an #ahj days aft] receiv+ a writt5 reque/ f ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives or ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate1 ! inspector g5]al %all provide to ! reque/+ committee an analysis (-- 7#a7 ! /atus ( any cov]$ public h\s+ ag5cy's compliance ) any agreem5ts ent]$ into betwe5 ! cov]$ public h\s+ ag5cy & ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t1 includ+ specific areas ( defici5cy & progress t[>d compliance2 7#b7 a review ( actions tak5 by ! receiv] or ,f$]al monitor appo9t$ to ov]see a cov]$ public h\s+ ag5cy & any private sector h\s+ developm5t p>tn]s pursuant to su* agreem5t1 includ+ any gaps 9 ov]sight by ! receiv] or ,f$]al monitor2 7#c7 an assessm5t ( ! physical conditions ( h\s+ provid$ by ! cov]$ public h\s+ ag5cy1 includ+ ! /atus ( ! cov]$ public h\s+ ag5cy's compliance ) relevant heal? & safety requirem5ts2 7#d7 an exam9ation ( any allegations ( wa/e1 fraud1 abuse or violations ( ,f$]al law committ$ by employees or contractors ( ! cov]$ public h\s+ ag5cy2 7#e7 any additional p]t95t in=mation1 z det]m9$ necess>y & appropriate by ! inspector g5]al2 & 7#f7 any recomm5dations ( ! inspector g5]al t relate to h[ to improve ! compliance ( ! cov]$ public h\s+ ag5cy ) any agreem5ts ent]$ into ) ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t or enhance ! ov]sight ( ! receiv] or ,f$]al monitor ov] su* cov]$ public h\s+ ag5cy4 7e7 ,def9itions 7#a7 ,cov]$ public h\s+ ag5cy ,! t]m cov]$ public h\s+ ag5cy means a public h\s+ ag5cy 7z su* t]m is def9$ 9 section #c7;b7 ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;a7b777 = :i* an adm9i/rative or judicial receiv] or ,f$]al monitor 0 appo9t$4 7#b7 ,inspector g5]al ,! t]m inspector g5]al means ! inspector g5]al ( ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t4 7#c7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ,h\s+ & ,urban ,developm5t4 ,,vi ,/r5g!n+ ,community ,banks' ,role 9 ,h\s+ #fja4 ,community ,bank ,deposit ,access 7a7 ,9 g5]al ,section #bi ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahca;f7 is am5d$ by add+ at ! end ! foll[+3 7j7 ,limit$ exception = cu/odial deposits 7#a7 ,9 g5]al ,cu/odial deposits ( an eligible in/itution %all n be consid]$ to be funds obta9$1 directly or indirectly1 by or ?r\gh a deposit brok] to ! ext5t t ! total am\nt ( su* cu/odial deposits does n exce$ an am\nt equal to #bj p]c5t ( ! total liabilities ( ! eligible in/itution4 7#b7 ,def9itions ,9 ?is subsection3 7,a7 ,cu/odial deposit ,! t]m cu/odial deposit means a deposit t is n deposit$ at an insur$ depository in/itution 9 return = fees paid by ! insur$ depository in/itution pursuant to an agreem5t ) a ?ird p>ty & t w\ld o!rwise be consid]$ to be obta9$1 directly or indirectly1 by or ?r\gh a deposit brok]1 if ! deposit is deposit$ at #a or m insur$ depository in/itutions1 = ! purpose ( provid+ or ma9ta9+ deposit insurance = ! b5efit ( a ?ird p>ty1 by or ?r\gh any ( ! foll[+1 ea* act+ 9 a =mal cu/odial or fiduci>y capacity = ! b5efit ( a ?ird p>ty3 7i7 ,an insur$ depository in/itution s]v+ z ag5t1 tru/ee1 or cu/odian4 7ii7 ,a tru/ entity controll$ by an insur$ depository in/itution s]v+ z ag5t1 tru/ee1 or cu/odian4 7iii7 ,a ,/ate-*>t]$ tru/ company s]v+ z ag5t1 tru/ee1 or cu/odian4 7iv7 ,a plan adm9i/rator or inve/m5t advisor1 act+ 9 a =mal cu/odial or fiduci>y capacity = ! b5efit ( a plan4 7,b7 ,eligible in/itution ,! t]m eligible in/itution means an insur$ depository in/itution t accepts cu/odial deposits1 if ! insur$ depository in/itution has less ?an #aj1jjj1jjj1jjj 9 total assets z report$ on ! consolidat$ report ( condition & income z report$ qu>t]ly to ! appropriate ,f$]al bank+ ag5cy &-- 7i7 7,i7 :5 mo/ rec5tly exam9$ "u section #aj7;d7 0 assign$ a composite rat+ ( #a1 #b1 or #c "u ! ,uni=m ,f9ancial ,in/itutions ,rat+ ,sy/em 7or an equival5t rat+ "u a comp>able rat+ sy/em72 & 7,,ii7 is well capitaliz$2 or 7ii7 has obta9$ a waiv] pursuant to subsection 7c74 7,c7 ,plan ,! t]m plan has ! mean+ giv5 ! t]m 9 section #c ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajjb74 7,d7 ,plan adm9i/rator ,! t]m plan adm9i/rator has ! mean+ giv5 ! t]m adm9i/rator 9 section #c ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajjb74 7,e7 ,well capitaliz$ ,! t]m well capitaliz$ has ! mean+ giv5 ! t]m 9 section #ch7;b74 4 7b7 ,int]e/ rate re/riction ,section #bi ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahca;f71 z am5d$ by subsection 7a71 is fur!r am5d$ by add+ at ! end ! foll[+3 7k7 ,re/riction on int]e/ rate paid on c]ta9 cu/odial deposits 7#a7 ,def9itions ,9 ?is subsection-- 7,a7 ! t]ms cu/odial deposit1 eligible in/itution1 & well capitaliz$ h ! mean+s giv5 ^? t]ms 9 subsection 7j72 & 7,b7 ! t]m cov]$ insur$ depository in/itution means an insur$ depository in/itution t :ile act+ z an eligible in/itution "u subsection 7j71 accepts cu/odial deposits :ile n well capitaliz$4 7#b7 ,prohibition ,a cov]$ insur$ depository in/itution may n pay a rate ( int]e/ on cu/odial deposits t are accept$ :ile n well capitaliz$ t1 at ! "t ! funds or cu/odial deposits are accept$1 significantly exce$s ! limit set =? 9 p>agraph 7#c74 7#c7 ,limit on int]e/ rates ,! limit on ! rate ( int]e/ ref]r$ to 9 p>agraph 7#b7 %all be n great] ?an-- 7,a7 ! rate paid on deposits ( simil> maturity 9 ! normal m>ket area ( ! cov]$ insur$ depository in/itution = deposits accept$ 9 ! normal m>ket area ( ! cov]$ insur$ depository in/itution2 or 7,b7 ! national rate paid on deposits ( comp>able maturity1 z e/abli%$ by ! ,corporation1 = deposits accept$ outside ! normal m>ket area ( ! cov]$ insur$ depository in/itution4 4 #fjb4 ,keep+ ,deposits ,local 7a7 ,am\nt ( reciprocal deposits t are n consid]$ to be funds obta9$ by or ?r\gh a deposit brok] ,section #bi7;i7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahca;f7i77 is am5d$ by /rik+ p>agraph 7#a7 & ins]t+ ! foll[+3 7#a7 ,9 g5]al ,! sum ( ! foll[+ am\nts ( reciprocal deposits ( an ag5t in/itution %all n be consid]$ to be funds obta9$1 directly or indirectly1 by or ?r\gh a deposit brok]3 7,a7 ,an am\nt equal to #ej p]c5t ( ! portion ( ! total liabilities ( ! ag5t in/itution t is less ?an or equal to #a1jjj1jjj1jjj4 7,b7 ,an am\nt equal to #dj p]c5t ( ! portion1 if any1 ( ! total liabilities ( ! ag5t in/itution t is great] ?an #a1jjj1jjj1jjj1 b less ?an or equal to #aj1jjj1jjj1jjj4 7,c7 ,an am\nt equal to #cj p]c5t ( ! portion1 if any1 ( ! total liabilities ( ! ag5t in/itution t is great] ?an #aj1jjj1jjj1jjj1 b less ?an or equal to #bej1jjj1jjj1jjj4 4 7b7 ,def9ition ( ,ag5t ,in/itution ,section #bi7;i77#b77;,a77i7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahca;f7i77#b77;,a77i77 is am5d$ by /rik+ subclause 7,i7 & ins]t+ ! foll[+3 7,i7 :5 mo/ rec5tly exam9$ "u section #aj7;d7 0 assign$ a ,,camels rat+ ( #a1 #b1 or #c "u ! ,uni=m ,f9ancial ,in/itutions ,rat+ ,sy/em 7or an equival5t rat+ "u a comp>able rat+ sy/em72 & 4 7c7 ,reciprocal deposits /udy 7#a7 ,9 g5]al ,! ,f$]al ,deposit ,insurance ,corporation1 9 consultation ) ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 %all c>ry out a /udy on reciprocal deposits4 7#b7 ,cont5ts ,! /udy requir$ "u p>agraph 7#a7 %all include-- 7,a7 an analysis ( h[ reciprocal deposits h p]=m$ s9ce #bjah1 :i* %all include-- 7i7 ! use ( quantitative & qualitative data2 7ii7 a breakd[n ( ! usage ( reciprocal deposits by size ( insur$ depository in/itution2 7iii7 ! usage ( reciprocal deposits dur+ p]iods ( /ress2 & 7iv7 an analysis1 to ! ext5t practicable1 ( end-us] depositors1 su* z municipalities1 bus9esses1 & non-pr(it organizations1 t drive dem& = reciprocal products2 7,b7 an analysis1 to ! ext5t practicable1 ( h[ reciprocal deposits comp>e to o!r deposit arrangem5ts2 & 7,c7 an analysis ( ! b5efits & pot5tial risks ( reciprocal deposits4 7#c7 ,report ,n lat] ?an #f mon?s aft] ! date ( enactm5t ( ?is ,act1 ! ,f$]al ,deposit ,insurance ,corporation %all issue a report to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate conta9+ all f9d+s & det]m9ations made 9 c>ry+ out ! /udy requir$ "u p>agraph 7#a74 #fjc4 ,sup]visory ,modifications = ,appropriate ,risk-bas$ ,te/+ 7a7 ,exam9ation relief = c]ta9 well manag$ & well capitaliz$ f9ancial in/itutions 7#a7 ,insur$ depository in/itutions ,section #aj7;d7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbj7;d77 is am5d$ by add+ at ! end ! foll[+3 7#aa7 ,exam9ation relief = c]ta9 well manag$ & well capitaliz$ insur$ depository in/itutions 7,a7 ,9 g5]al ,! foll[+ %all apply to a well manag$ & well capitaliz$ insur$ depository in/itution ) #f1jjj1jjj1jjj or less 9 consolidat$ assets3 7i7 ,alt]nat+ limit$-scope exam9ations ,aft] an insur$ depository in/itution receives a full-scope1 on-site exam9ation f ! appropriate ,f$]al bank+ ag5cy1 ! next exam9ation ( ! insur$ depository in/itution by ! appropriate ,f$]al bank+ ag5cy %all be a limit$-scope exam9ation1 z det]m9$ by ! appropriate ,f$]al bank+ ag5cy4 7ii7 ,comb9$ exam9ations ,if an insur$ depository in/itution is o!rwise subject to sep>ate safety & s\ndness exam9ations1 consum] compliance exam9ations1 & in=mation te*nology & cyb]security exam9ations1 ! appropriate ,f$]al bank+ ag5cy %all1 ^u reque/ ( ! insur$ depository in/itution1 comb9e two or ?ree su* exam9ations1 z specifi$ by ! insur$ depository in/itution1 & c>ry !m out at ! same "t4 7,b7 ,exception ,subp>agraph 7,a7 %all n apply to an insur$ depository in/itution if-- 7i7 ! insur$ depository in/itution is curr5tly subject to a =mal en=cem5t proce$+ or ord] by ! ,corporation or ! appropriate ,f$]al bank+ ag5cy2 or 7ii7 a p]son acquir$ control ( ! insur$ depository in/itution s9ce ! mo/ rec5t full-scope1 on-site exam9ation ( ! insur$ depository in/itution f ! appropriate ,f$]al bank+ ag5cy4 7,c7 ,rulemak+ ,n lat] ?an #ab mon?s aft] ! date ( enactm5t ( ?is p>agraph1 ! ,f$]al bank+ ag5cies %all issue rules to c>ry out subp>agraph 7,a71 includ+1 ) respect to an insur$ depository in/itution describ$ "u subp>agraph 7,a71 to-- 7i7 e/abli% proc$ures = ! limit$-scope exam9ations describ$ 9 subp>agraph 7,a77i72 7ii7 e/abli% proc$ures = review+ insur$ depository in/itutions t-- 7,i7 exp]i5ce mat]ial *anges 9 f9ancial condition or op]ational risk pr(ile betwe5 s*$ul$ exam9ations2 or 7,,ii7 h fail$ to comply ) ,f$]al or ,/ate bank+ laws & regulations2 & 7iii7 balance ! goals ( /reaml9+ ! exam9ation cycle = individual insur$ depository in/itutions & r$uc+ unnecess>y regulatory burd5s :ile ma9ta9+ suffici5t ov]sight to ensure ! cont9u$ safety & s\ndness ( ! insur$ depository in/itutions & compliance ) all applicable laws & regulations4 7,d7 ,rule ( con/ruction ,no?+ 9 ?is p>agraph may be con/ru$ to limit ! au?ority ( a ,f$]al bank+ ag5cy to conduct (f-site monitor+1 t>get$ reviews1 or additional full-scope1 on-site exam9ations ( an insur$ depository in/itution if ! ,f$]al bank+ ag5cy det]m9es su* monitor+1 reviews1 or exam9ations are necess>y to ensure safety & s\ndness or compliance ) applicable laws4 7,e7 ,def9itions ,9 ?is p>agraph3 7i7 ,consum] compliance exam9ation ,! t]m consum] compliance exam9ation means an exam9ation to assess compliance ) ! requirem5ts ( ,f$]al consum] f9ancial law 7z su* t]m is def9$ 9 section #ajjb ( ! ,consum] ,f9ancial ,protection ,act ( #bjaj74 7ii7 ,well capitaliz$ ,! t]m well capitaliz$ has ! mean+ giv5 t t]m 9 section #ch7;b74 7iii7 ,well manag$ ,) respect to an insur$ depository in/itution1 ! t]m well manag$ means t1 :5 ! in/itution 0 mo/ rec5tly exam9$ by ! appropriate ,f$]al bank+ ag5cy1 ! in/itution 0 f\nd to be well manag$1 & ! in/itution's composite condition 0 f\nd to be satisfactory or out/&+4 4 7#b7 ,insur$ cr$it unions ,section #bjd ( ! ,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4 #aghd7 is am5d$ by add+ at ! end ! foll[+3 7h7 ,exam9ation relief = c]ta9 well manag$ & well capitaliz$ insur$ cr$it unions 7#a7 ,9 g5]al ,! foll[+ %all apply to a well manag$ & well capitaliz$ insur$ cr$it union ) #f1jjj1jjj1jjj or less 9 consolidat$ assets3 7,a7 ,alt]nat+ limit$-scope exam9ations ,aft] an insur$ cr$it union receives a full-scope1 on-site exam9ation f ! ,national ,cr$it ,union ,adm9i/ration1 ! next exam9ation ( ! insur$ cr$it union by ! ,national ,cr$it ,union ,adm9i/ration %all be a limit$-scope exam9ation1 z det]m9$ by ! ,national ,cr$it ,union ,adm9i/ration4 7,b7 ,comb9$ exam9ations ,if an insur$ cr$it union is o!rwise subject to sep>ate safety & s\ndness exam9ations1 consum] compliance exam9ations1 & in=mation te*nology & cyb]security exam9ations1 ! ,national ,cr$it ,union ,adm9i/ration %all1 ^u reque/ ( ! insur$ cr$it union1 comb9e two or ?ree su* exam9ations1 z specifi$ by ! insur$ cr$it union1 & c>ry !m out at ! same "t4 7#b7 ,exception ,p>agraph 7#a7 %all n apply to an insur$ cr$it union if ! insur$ cr$it union is curr5tly subject to a =mal en=cem5t proce$+ or ord] by ! ,national ,cr$it ,union ,adm9i/ration4 7#c7 ,rulemak+ ,n lat] ?an #ab mon?s aft] ! date ( enactm5t ( ?is subsection1 ! ,national ,cr$it ,union ,adm9i/ration %all issue rules to c>ry out p>agraph 7#a71 includ+1 ) respect to an insur$ cr$it union describ$ "u p>agraph 7#a71 to-- 7,a7 e/abli% proc$ures = ! limit$-scope exam9ations describ$ 9 p>agraph 7#a77;,a72 7,b7 e/abli% proc$ures = review+ insur$ cr$it unions t-- 7i7 exp]i5ce mat]ial *anges 9 f9ancial condition or op]ational risk pr(ile betwe5 s*$ul$ exam9ations2 or 7ii7 h fail$ to comply ) ,f$]al or ,/ate bank+ laws & regulations2 & 7,c7 balance ! goals ( /reaml9+ ! exam9ation cycle = individual insur$ cr$it unions & r$uc+ unnecess>y regulatory burd5s :ile ma9ta9+ suffici5t ov]sight to ensure ! cont9u$ safety & s\ndness ( ! insur$ cr$it unions & compliance ) all applicable laws & regulations4 7#d7 ,rule ( con/ruction ,no?+ 9 ?is subsection may be con/ru$ to limit ! au?ority ( ! ,national ,cr$it ,union ,adm9i/ration to conduct (f-site monitor+1 t>get$ reviews1 or additional full-scope1 on-site exam9ations ( an insur$ cr$it union if ! ,national ,cr$it ,union ,adm9i/ration det]m9es su* monitor+1 reviews1 or exam9ations are necess>y to ensure safety & s\ndness or compliance ) applicable laws4 7#e7 ,def9itions ,9 ?is p>agraph3 7,a7 ,consum] compliance exam9ation ,! t]m consum] compliance exam9ation means an exam9ation to assess compliance ) ! requirem5ts ( ,f$]al consum] f9ancial law 7z su* t]m is def9$ 9 section #ajjb ( ! ,consum] ,f9ancial ,protection ,act ( #bjaj74 7,b7 ,well capitaliz$ ,! t]m well capitaliz$ has ! mean+ giv5 t t]m 9 section #baf7;c74 7,c7 ,well manag$ ,) respect to an insur$ cr$it union1 ! t]m well manag$ means t1 :5 ! cr$it union 0 mo/ rec5tly exam9$ by ! ,national ,cr$it ,union ,adm9i/ration1 ! cr$it union 0 f\nd to be well manag$1 & ! cr$it union's composite condition 0 f\nd to be satisfactory or out/&+4 4 7b7 ,exam9ation practices 7#a7 ,insur$ depository in/itutions ,section #aj7;d7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbj7;d771 z am5d$ by subsection 7a77#a71 is fur!r am5d$ by add+ at ! end ! foll[+3 7#ab7 ,exam9ation practices ,) respect to on-site exam9ation ( an insur$ depository in/itution ) less ?an #f1jjj1jjj1jjj 9 total assets1 ! appropriate ,f$]al bank+ ag5cy %all-- 7,a7 ensure ! exam9ation is l$ by1 to ! maximum ext5t practicable1 an exam9] ) significant exp]i5ce z an exam9]2 7,b7 make e ef=t1 to ! maximum ext5t practicable1 to m9imize ! numb] ( exam9]s utiliz$ & ! am\nt ( "t sp5t at ! in/itution to c>ry out ! exam9ation2 7,c7 make e ef=t1 to ! maximum ext5t practicable1 to s*$ule ! exam9ation at a "t t is conv5i5t = ! in/itution2 & 7,d7 to ! maximum ext5t practicable1 give ! in/itution advance notice ( issues expect$ to be cov]$ 9 ! exam9ation4 7#ac7 ,report ,9 its annual report to ,congress1 ea* ,f$]al bank+ ag5cy %all include-- 7,a7 in=mation on h[ ! ag5cy is comply+ ) p>agraphs 7#aa7 & 7#ab72 & 7,b7 aggregate data summ>iz+ ! ag5cy's exam9ation practices ) respect to insur$ depository in/itutions ) less ?an #f1jjj1jjj1jjj 9 total assets1 includ+-- 7i7 ! av]age exp]i5ce ( exam9]s1 includ+ ! av]age numb] ( ye>s ( exam9] exp]i5ce ( ^? :o lead on-site exam9ations2 7ii7 ! av]age numb] ( exam9]s utiliz$2 & 7iii7 ! av]age am\nt ( "t ! ag5cy sp5ds visit+ su* in/itutions = on-site exam9ations4 4 7#b7 ,insur$ cr$it unions ,section #bjd ( ! ,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4 #aghd71 z am5d$ by subsection 7a77#b71 is fur!r am5d$ by add+ at ! end ! foll[+3 7i7 ,exam9ation practices ,) respect to on-site exam9ation ( an insur$ cr$it union ) less ?an #f1jjj1jjj1jjj 9 total assets1 ! ,national ,cr$it ,union ,adm9i/ration %all-- 7#a7 ensure ! exam9ation is l$ by1 to ! maximum ext5t practicable1 an exam9] ) significant exp]i5ce z an exam9]2 7#b7 make e ef=t1 to ! maximum ext5t practicable1 to m9imize ! numb] ( exam9]s utiliz$ & ! am\nt ( "t sp5t at ! cr$it union to c>ry out ! exam9ation2 7#c7 make e ef=t1 to ! maximum ext5t practicable1 to s*$ule ! exam9ation at a "t t is conv5i5t = ! cr$it union2 & 7#d7 to ! maximum ext5t practicable1 give ! cr$it union advance notice ( issues expect$ to be cov]$ 9 ! exam9ation4 7j7 ,report ,9 its annual report to ,congress1 ! ,national ,cr$it ,union ,adm9i/ration %all include-- 7#a7 in=mation on h[ ! ,adm9i/ration is comply+ ) subsections 7h7 & 7i72 & 7#b7 aggregate data summ>iz+ ! ,adm9i/ration's exam9ation practices ) respect to insur$ cr$it unions ) less ?an #f1jjj1jjj1jjj 9 total assets1 includ+-- 7,a7 ! av]age exp]i5ce ( exam9]s1 includ+ ! av]age numb] ( ye>s ( exam9] exp]i5ce ( ^? :o lead on-site exam9ations2 7,b7 ! av]age numb] ( exam9]s utiliz$2 & 7,c7 ! av]age am\nt ( "t ! ,adm9i/ration sp5ds visit+ su* cr$it unions = on-site exam9ations4 4 #fjd4 ,tailor$ ,regulatory ,updates = ,sup]visory ,te/+ ,section #aj7;d7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbj7;d77 is am5d$-- 7#a7 9 p>agraph 7#d77;,a71 by /rik+ #c1jjj1jjj1jjj & ins]t+ #f1jjj1jjj1jjj2 & 7#b7 9 p>agraph 7#aj71 by /rik+ #c1jjj1jjj1jjj & ins]t+ #f1jjj1jjj1jjj4 #fje4 ,cr$it ,union ,bo>d ,mod]nization ,section #aac ( ! ,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4 #agfa;b7 is am5d$-- 7#a7 by /rik+ mon?ly ea* place su* t]m appe>s2 7#b7 9 ! matt] prec$+ p>agraph 7#a71 by /rik+ ,! bo>d ( directors & ins]t+ ! foll[+3 7a7 ,9 g5]al ,! bo>d ( directors 2 7#c7 9 subsection 7a7 7z s designat$71 by /rik+ %all meet at lea/ once a mon? &2 & 7#d7 by add+ at ! end ! foll[+3 7b7 ,meet+s ,! bo>d ( directors ( a ,f$]al cr$it union %all meet z foll[s3 7#a7 ,) respect to a de novo ,f$]al cr$it union1 n less frequ5tly ?an mon?ly dur+ ea* ( ! fir/ five ye>s ( ! exi/5ce ( su* ,f$]al cr$it union4 7#b7 ,n less ?an six times annually1 ) at lea/ "o meet+ held dur+ ea* fiscal qu>t]1 ) respect to a ,f$]al cr$it union-- 7,a7 ) composite rat+ ( ei!r #a or #b "u ! ,uni=m ,f9ancial ,in/itutions ,rat+ ,sy/em 7or an equival5t rat+ "u a comp>able rat+ sy/em72 & 7,b7 ) a capability ( managem5t rat+ "u su* composite rat+ ( ei!r #a or #b4 7#c7 ,n less frequ5tly ?an once a mon?1 ) respect to a ,f$]al cr$it union-- 7,a7 ) composite rat+ ( ei!r #c1 #d1 or #e "u ! ,uni=m ,f9ancial ,in/itutions ,rat+ ,sy/em 7or an equival5t rat+ "u a comp>able rat+ sy/em72 or 7,b7 ) a capability ( managem5t rat+ "u su* composite rat+ ( ei!r #c1 #d1 or #e4 4 #fjf4 ,sy/emic ,risk ,au?ority ,transp>5cy 7a7 ,,gao review ,section #ac7;c77#d77;,g77iv7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbc7;c77#d77;,g77iv77 is am5d$ to read z foll[s3 7iv7 ,,gao review 7,i7 ,9 g5]al ,! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all1 n lat] ?an #fj days aft] a det]m9ation is made "u clause 7i71 & aga9 #ahj days !reaft]1 review & report to ! ,congress on ! det]m9ation "u clause 7i71 includ+-- 7aa7 ! basis = ! det]m9ation2 7bb7 ! purpose = :i* any action 0 tak5 pursuant to su* clause2 7cc7 ! likely effect ( ! det]m9ation & su* action on ! inc5tives & conduct ( insur$ depository in/itutions & un9sur$ depositors2 7dd7 any mismanagem5t by ! executives & bo>d ( ! insur$ depository in/itution t contribut$ to ! failure ( ! insur$ depository in/itution2 7ee7 a review ( ! comp5sation practices ( ! insur$ depository in/itution2 7ff7 any sup]visory or regulatory %ortcom+s ) respect to ! appropriate ,f$]al bank+ ag5cy ( ! insur$ depository in/itution2 7gg7 any actions tak5 by ! ,f$]al bank+ regulators1 ,f9ancial ,/ability ,ov]sight ,c\ncil1 ,dep>tm5t ( ! ,treasury1 & o!r relevant f9ancial regulators 9 relation to ! failure ( ! insur$ depository in/itution2 & 7hh7 any additional relevant entities or activities t may h contribut$ to ! failure ( ! insur$ depository in/itution1 includ+ ) respect to audit+1 acc\nt+1 cr$it rat+ ag5cies1 inve/m5t bank und]writ]s1 & em]g5cy liquidity options su* z loans f ! ,f$]al res]ve banks or advances ?r\gh ! ,f$]al ,home ,loan ,bank sy/em4 7,,ii7 ,rule ( con/ruction ,no?+ 9 ?is clause or a report issu$ pursuant to ?is clause may be con/ru$ to limit ! au?ority ( a ,f$]al ag5cy to en=ce violations ( ,f$]al /atutes1 rules1 or ord]s4 4 7b7 ,appropriate f$]al bank+ ag5cy report ,section #ac7;c7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbc7;c77 is am5d$ by add+ at ! end ! foll[+3 7#ab7 ,appropriate f$]al bank+ ag5cy report 7,a7 ,9 g5]al ,! appropriate ,f$]al bank+ ag5cy ( an insur$ depository in/itution ab\t :i* a det]m9ation is made "u p>agraph 7#d77;,g77i7 %all1 n lat] ?an #ij days aft] ! date ( su* det]m9ation1 & aga9 #baj days !reaft]1 submit a report to ! ,congress t discloses ! foll[+3 7i7 ,subject to su* r$actions z ! appropriate ,f$]al bank+ ag5cy det]m9es appropriate to protect p]sonally id5tifiable in=mation ab\t cu/om]s & o!r f9ancial in/itutions 7z su* t]m is def9$ "u section #aa7;e77#i77;,d771 all-- 7,i7 reports ( exam9ation & inspection t relate to ! fail$ insur$ depository in/itution 9 ! previ\s #c-ye> p]iod2 7,,ii7 =mal communications ( a mat]ial sup]visory det]m9ation convey$ to ! fail$ insur$ depository in/itution 9 ! previ\s #c-ye> p]iod2 & 7,,iii7 any additional exam reports & correspond5ce t ! appropriate ,f$]al bank+ ag5cy det]m9es may be relevant to ! failure ( ! insur$ depository in/itution4 7ii7 ,an exam9ation ( any mismanagem5t by ! executives & bo>d ( ! insur$ depository in/itution t contribut$ to ! failure ( ! insur$ depository in/itution4 7iii7 ,any sup]visory or regulatory %ortcom+s by su* appropriate ,f$]al bank+ ag5cy ) respect to ! insur$ depository in/itution4 7iv7 ,any dynamics t ! appropriate ,f$]al bank+ ag5cy det]m9es may h contribut$ to ! failure ( ! insur$ depository in/itution4 7v7 ,any sup]visory1 regulatory1 or legislative recomm5dations su* appropriate ,f$]al bank+ ag5cy may h to improve ! safety & s\ndness ( simil>ly situat$ insur$ depository in/itutions1 ! bank+ sy/em1 & f9ancial /ability4 7,b7 ,protection ( s5sitive in=mation 7i7 ,effect on privilege ,! provision ( any in=mation by a ,f$]al bank+ ag5cy "u ?is p>agraph may n be con/ru$ z-- 7,i7 waiv+1 de/roy+1 or o!rwise affect+ any privilege applicable to ! in=mation2 or 7,,ii7 waiv+ any exemption applicable to ! in=mation "u section #eeb ( title #e1 ,unit$ ,/ates ,code 7commonly kn[n z ! ,fre$om ( ,in=mation ,act74 7ii7 ,transp>5cy 7,i7 ,9 g5]al ,a ,f$]al bank+ ag5cy %all publi% mat]ials conta9$ 9 a report requir$ "u subp>agraph 7,a7 to ! fulle/ ext5t possible to promote transp>5cy4 7,,ii7 ,consultation on omitt+ mat]ials ,if a ,f$]al bank+ ag5cy det]m9es p>ticul> mat]ials describ$ "u subclause 7,i7 %\ld n be publi%$1 ! ,f$]al bank+ ag5cy %all consult ) ! *air & rank+ memb] ( ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! *air & rank+ memb] ( ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate4 7,,iii7 ,omitt+ mat]ials ,if1 aft] ! consultation requir$ "u subclause 7,,ii71 ! ,f$]al bank+ ag5cy det]m9es !re is a sub/antial public int]e/ 9 n publi%+ su* mat]ials1 ! ,f$]al bank+ ag5cy %all provide ^? mat]ials to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate ) a writt5 explanation describ+ ! reasons = n publi%+ ^? mat]ials4 7iii7 ,privilege ,= purposes ( ?is subp>agraph1 ! t]m privilege includes any "w-product1 attorney-cli5t1 or o!r privilege recogniz$ "u ,f$]al or ,/ate law4 7,c7 ,report ext5sion ,a ,f$]al bank+ ag5cy may ext5d a deadl9e describ$ "u subp>agraph 7,a7 = an additional #fj days1 if ! ,f$]al bank+ ag5cy-- 7i7 faces ongo+ circum/ances t require ! ,f$]al bank+ ag5cy to prioritize activities to promote /ability ( ! ,u4,s4 bank+ sy/em2 & 7ii7 notifies ! ,congress ( su* ext5sion & ! reasons = su* ext5sion4 7,d7 ,consolidat$ reports ,a ,f$]al bank+ ag5cy may consolidate multiple reports requir$ "u ?is p>agraph s long z ! individual reports be+ consolidat$ all meet ! tim+ requirem5ts "u ?is p>agraph4 7,e7 ,rule ( con/ruction ,no?+ 9 ?is p>agraph or reports or mat]ials provid$ pursuant to ?is p>agraph may be con/ru$ to limit ! au?ority ( a ,f$]al ag5cy to en=ce violations ( ,f$]al /atutes1 rules1 or ord]s4 4 #fjg4 ,lea/ co/ exception 7a7 ,9 g5]al ,section #ac7;c77#d7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbc7;c77#d77 is am5d$-- 7#a7 9 subp>agraph 7,a77ii71 by ins]t+ except z provid$ 9 subp>agraph 7,i71 be=e ! total am\nt2 7#b7 9 subp>agraph 7,e77i71 by ins]t+ & except z provid$ 9 subp>agraph 7,i71 aft] appropriate12 & 7#c7 by add+ at ! end ! foll[+3 7,i7 ,lea/ co/ resolution exception 7i7 ,9 g5]al ,) respect to an ex]cise ( au?ority by ! ,corporation describ$ 9 subp>agraph 7,a71 ! ,corporation may1 at ! discretion ( ! ,corporation1 select an alt]native me?od ( ex]cis+ su* au?ority t is n ! lea/ co/ly to ! ,deposit ,insurance ,fund1 if-- 7,i7 ! ,corporation det]m9es t ! select$ alt]native complies ) ! requirem5ts ( clause 7iii72 & 7,,ii7 ! ,corporation & ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 aft] consultation ) ! ,secret>y ( ! ,treasury1 det]m9e t ! pot5tial additional risks to ! ,deposit ,insurance ,fund ( ! select$ alt]native are outweigh$ by ! reasonably expect$ b5efits ( limit+ fur!r conc5tration ( ! ,unit$ ,/ates bank+ sy/em 9 global sy/emically important bank+ organizations4 7ii7 ,maximum co/ to ! deposit insurance fund ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is subp>agraph1 ! ,corporation1 by rule1 %all e/abli% crit]ia = det]m9+ on a case-by-case basis ! maximum all[able co/ aga9/ ! net wor? ( ! ,deposit ,insurance ,fund t may be utiliz$ to acc\nt = any det]m9ation "u clause 7i74 7iii7 ,requirem5ts describ$ ,! requirem5ts = ! select$ alt]native describ$ 9 clause 7i7 are z foll[s3 7,i7 ,! select$ alt]native is ! lea/ co/ly to ! ,deposit ,insurance ,fund ( all alt]natives t d n involve a transaction ) a global sy/emically important bank+ organization & t d n exce$ ! co/ ( liquidat+ ! insur$ depository in/itution4 7,,ii7 ,! diff]5ce betwe5 ! co/ ( ! select$ alt]native & ! co/ ( a cov]$ alt]native is less ?an or equal to ! maximum co/ to ! ,deposit ,insurance ,fund specifi$ pursuant to ! rule adopt$ "u clause 7ii74 7,,iii7 ,9 ! case ( a select$ alt]native t involves ano!r p]son pur*as+ assets ( ! insur$ depository in/itution or assum+ deposit liabilities ( ! insur$ depository in/itution1 su* p]son agrees to pay an assessm5t to ! ,corporation compris$ ( paym5ts-- 7aa7 made ov] a p]iod to be det]m9$ by ! ,corporation1 b :i* may n be less ?an #e ye>s2 & 7bb7 9 an am\nt t takes into acc\nt1 on a case-by-case basis1 crit]ia ! ,corporation1 by rule1 %all e/abli%1 includ+ a reali/ic disc\nt rate1 ! aggregate am\nt equal to ! diff]5ce calculat$ 9 subclause 7,,ii71 & any bid inconsi/5t ) ! purposes ( ?is ,act1 ) su* rule to be e/abli%$ by ! ,corporation n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is subp>agraph4 7iv7 ,report to congress ,n lat] ?an #cj days aft] select+ an alt]native describ$ 9 clause 7i71 ! ,corporation %all issue a report to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate conta9+ an analysis ( ! economic diff]5ce betwe5 ! co/ to ! ,deposit ,insurance ,fund ( ! select$ alt]native & ! co/ to ! ,deposit ,insurance ,fund ( ! lea/ co/ly alt]native t w\ld h be5 select$ abs5t ! application ( ?is subp>agraph4 7v7 ,co/ det]m9ations ,all co/ det]m9ations requir$ "u ?is subp>agraph %all be made 9 accordance ) subp>agraphs 7,b7 & 7,c74 7vi7 ,def9itions ,9 ?is subp>agraph3 7,i7 ,cov]$ alt]native ,! t]m cov]$ alt]native means a me?od ( ex]cis+ au?ority describ$ 9 subp>agraph 7,a7 t is ! lea/ co/ly to ! ,deposit ,insurance ,fund ( all su* me?ods t involve a sale ( all or sub/antially all assets ( ! insur$ depository in/itution to1 & assumption ( all or sub/antially all deposit liabilities ( ! insur$ depository in/itution by1 a global sy/emically important bank+ organization4 7,,ii7 ,global sy/emically important bank+ organization ,! t]m global sy/emically important bank+ organization means a global sy/emically important ,,bhc 7z su* t]m is def9$ 9 section #bag4djb ( title #ab1 ,code ( ,f$]al ,regulations1 or any successor !reto7 & any affiliate !re(4 4 7b7 ,rule ( con/ruction ,section #ac7;c77#d77;,h7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbc7;c77#d77;,h77 does n apply to ! am5dm5ts made by subsection 7a74 #fjh4 ,fail+ ,bank ,acquisition ,fairness 7a7 ,conc5tration limit exceptions only available to avoid s]i\s adv]se economic or f9ancial effects 7#a7 ,conc5tration limits ) respect to deposits 7,a7 ,f$]al ,deposit ,insurance ,act ,! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahaa et seq47 is am5d$-- 7i7 9 section #ah7;c77#ac7-- 7,i7 by am5d+ subp>agraph 7,b7 to read z foll[s3 7,b7 ,subp>agraph 7,a7 %all n apply to an int]/ate m]g] transaction if-- 7i7 su* int]/ate m]g] transaction involves #a or m insur$ depository in/itutions 9 default or 9 dang] ( default & ! responsible ag5cy det]m9es1 bas$ on cle> & conv9c+ evid5ce1 t consummation ( ! propos$ int]/ate m]g] transaction is necess>y to prev5t significant economic disruption or significant adv]se effects on f9ancial /ability1 & ! ,corporation has n receiv$ any qualifi$ bid f a company t is n subject to ! prohibition 9 subp>agraph 7,a72 or 7ii7 ! ,corporation provides assi/ance "u section #ac to facilitate su* int]/ate m]g] transaction & ! responsible ag5cy det]m9es1 bas$ on cle> & conv9c+ evid5ce1 t consummation ( ! propos$ int]/ate m]g] transaction is necess>y to prev5t significant economic disruption or significant adv]se effects on f9ancial /ability1 & ! ,corporation has n receiv$ any qualifi$ bid f a company t is n subject to ! prohibition 9 subp>agraph 7,a74 2 & 7,,ii7 9 subp>agraph 7,c7-- 7aa7 9 clause 7i71 by /rik+ & at ! end2 7bb7 9 clause 7ii71 by /rik+ ! p]iod at ! end & ins]t+ a semicolon2 & 7cc7 by add+ at ! end ! foll[+3 7iii7 ! t]m qualifi$ bid means an application1 propos$ application1 or bid f a company :]e-- 7,i7 if applicable1 ! company1 any affiliate insur$ depository in/itution1 & any affiliate depository in/itution hold+ company are well capitaliz$ & well manag$1 z ( ! date ( ! application1 propos$ application1 or bid2 & 7,,ii7 ^u consummation ( ! transaction1 ! result+ insur$ depository in/itution is well capitaliz$2 7iv7 ! t]m well capitaliz$-- 7,i7 ) respect to an insur$ depository in/itution1 has ! mean+ giv5 su* t]m 9 section #ch7;b7 7#ab ,u4,s4,c4 #ahcao7b772 7,,ii7 ) respect to a bank hold+ company1 has ! mean+ giv5 su* t]m 9 section #b7o77#a77;,b7 ( ! ,bank ,hold+ ,company ,act ( #aief 7#ab ,u4,s4,c4 #ahda7o77#a77;,b772 7,,iii7 ) respect to a sav+s & loan hold+ company1 has ! mean+ giv5 su* t]m 9 section #bch4b ( title #ab1 ,code ( ,f$]al ,regulations2 & 7,,iv7 ) respect to a company t is n an insur$ depository in/itution1 bank hold+ company1 or sav+s & loan hold+ company1 means ma9ta9+ equity capital t ! ,corporation det]m9es is comm5surate ) ! capital ma9ta9$ by an insur$ depository in/itution t is well capitaliz$2 & 7v7 ! t]m well manag$ has ! mean+ giv5 su* t]m 9 section #b7o77#i7 ( ! ,bank ,hold+ ,company ,act ( #aief 7#ab ,u4,s4,c4 #ahda7o77#i774 2 & 7ii7 9 section #dd1 by am5d+ subsection 7e7 to read z foll[s3 7e7 ,exception = ,banks 9 ,default or 9 ,dang] ( ,default 7#a7 ,g5]al exception ,! responsible ag5cy may1 )\t reg>d to p>agraph 7#a71 7#c71 7#d71 or 7#e7 ( subsection 7b7 or p>agraph 7#b71 7#d71 or 7#e7 ( subsection 7a71 approve an application "u subsection 7a77#a7 = approval ( a m]g] transaction if-- 7,a7 ! m]g] transaction involves #a or m banks 9 default or 9 dang] ( default2 or 7,b7 ! ,corporation provides assi/ance "u section #ac7;c7 to facilitate su* m]g] transaction4 7#b7 ,conc5tration limit exception ,! responsible ag5cy may1 )\t reg>d to subsection 7b77#b71 approve an application "u subsection 7a77#a7 = approval ( a m]g] transaction if-- 7,a7 ! m]g] transaction involves #a or m banks 9 default or 9 dang] ( default & ! responsible ag5cy det]m9es1 bas$ on cle> & conv9c+ evid5ce1 t consummation ( ! propos$ int]/ate m]g] transaction is necess>y to prev5t significant economic disruption or significant adv]se effects on f9ancial /ability1 & ! ,corporation has n receiv$ any qualifi$ bid f ano!r in/itution t is n subject to ! prohibition 9 subsection 7b77#b72 or 7,b7 ! ,corporation provides assi/ance "u section #ac7;c7 to facilitate su* m]g] transaction & ! responsible ag5cy det]m9es1 bas$ on cle> & conv9c+ evid5ce1 t consummation ( ! propos$ int]/ate m]g] transaction is necess>y to prev5t significant economic disruption or significant adv]se effects on f9ancial /ability1 & ! ,corporation has n receiv$ any qualifi$ bid f ano!r in/itution t is n subject to ! prohibition 9 subsection 7b77#b74 7#c7 ,qualifi$ bid def9$ ,9 ?is subsection1 ! t]m qualifi$ bid has ! mean+ giv5 t t]m 9 section #ah7;c77#ac77;,c74 4 7,b7 ,bank ,hold+ ,company ,act ( #aief ,! ,bank ,hold+ ,company ,act ( #aief 7#ab ,u4,s4,c4 #ahda et seq47 is am5d$-- 7i7 9 section #c7;d71 by am5d+ p>agraph 7#e7 to read z foll[s3 7#e7 ,exception = banks 9 default or 9 dang] ( default 7,a7 ,g5]al exception ,! ,bo>d may1 )\t reg>d to subp>agraph 7,b7 or 7,d7 ( p>agraph 7#a7 or p>agraph 7#c71 approve an application pursuant to p>agraph 7#a77;,a7 if-- 7i7 ! application is = an acquisition ( #a or m banks 9 default or 9 dang] ( default2 or 7ii7 ! application is = an acquisition ) respect to :i* assi/ance is provid$ "u section #ac7;c7 ( ! ,f$]al ,deposit ,insurance ,act4 7,b7 ,conc5tration limit exception ,! ,bo>d may1 )\t reg>d to p>agraph 7#b71 approve an application pursuant to p>agraph 7#a77;,a7 if-- 7i7 ! application is = ! acquisition ( #a or m banks 9 default or 9 dang] ( default & ! ,bo>d det]m9es1 bas$ on cle> & conv9c+ evid5ce1 t consummation ( ! propos$ acquisition is necess>y to prev5t significant economic disruption or significant adv]se effects on f9ancial /ability1 & ! ,corporation has n receiv$ any qualifi$ bid f ano!r in/itution t is n subject to ! prohibition 9 p>agraph 7#b72 or 7ii7 ! application is = an acquisition ) respect to :i* assi/ance is provid$ "u section #ac7;c7 ( ! ,f$]al ,deposit ,insurance ,act & ! ,bo>d det]m9es1 bas$ on cle> & conv9c+ evid5ce1 t consummation ( ! propos$ acquisition is necess>y to prev5t significant economic disruption or significant adv]se effects on f9ancial /ability1 & ! ,corporation has n receiv$ any qualifi$ bid f ano!r in/itution t is n subject to ! prohibition 9 p>agraph 7#b74 7,c7 ,qualifi$ bid def9$ ,9 ?is p>agraph1 ! t]m qualifi$ bid has ! mean+ giv5 t t]m 9 section #ah7;c77#ac77;,c7 ( ! ,f$]al ,deposit ,insurance ,act4 2 & 7ii7 9 section #d7;i77#h71 by am5d+ subp>agraph 7,b7 to read z foll[s3 7,b7 ,exception ,subp>agraph 7,a7 %all n apply to an acquisition if-- 7i7 su* acquisition involves an insur$ depository in/itution 9 default or 9 dang] ( default & ! ,bo>d det]m9es1 bas$ on cle> & conv9c+ evid5ce1 t consummation ( ! propos$ acquisition is necess>y to prev5t significant economic disruption or significant adv]se effects on f9ancial /ability1 & ! ,corporation has n receiv$ any qualifi$ bid 7z def9$ 9 section #ah7;c77#ac77;,c7 ( ! ,f$]al ,deposit ,insurance ,act7 f ano!r in/itution t is n subject to ! prohibition 9 p>agraph 7#b72 or 7ii7 ! ,f$]al ,deposit ,insurance ,corporation provides assi/ance "u section #ac ( ! ,f$]al ,deposit ,insurance ,act to facilitate su* acquisition & ! ,bo>d det]m9es1 bas$ on cle> & conv9c+ evid5ce1 t consummation ( ! propos$ acquisition is necess>y to prev5t significant economic disruption or significant adv]se effects on f9ancial /ability1 & ! ,corporation has n receiv$ any qualifi$ bid 7z def9$ 9 section #ah7;c77#ac77;,c7 ( ! ,f$]al ,deposit ,insurance ,act7 f ano!r in/itution t is n subject to ! prohibition 9 p>agraph 7#b74 4 7#b7 ,conc5tration limit ) respect to consolidat$ liabilities ,section #ad7;c7 ( ! ,bank ,hold+ ,company ,act ( #aief 7#ab ,u4,s4,c4 #aheb7;c77 is am5d$-- 7,a7 by r$esignat+ p>agraphs 7#a71 7#b71 & 7#c7 z subp>agraphs 7,a71 7,b71 & 7,c71 respectively2 7,b7 by /rik+ ,) ! & ins]t+ ! foll[+3 7#a7 ,9 g5]al ,) ! 2 & 7,c7 by add+ at ! end ! foll[+3 7#b7 ,limitation ,! ,bo>d may provide writt5 cons5t = an acquisition describ$ 9 p>agraph 7#a77;,a7 or 9 p>agraph 7#a77;,b7 only if ! ,bo>d det]m9es1 bas$ on cle> & conv9c+ evid5ce1 t consummation ( ! propos$ acquisition is necess>y to prev5t significant economic disruption or significant adv]se effects on f9ancial /ability1 & ! ,corporation has n receiv$ any qualifi$ bid 7z def9$ 9 section #ah7;c77#ac77;,c7 ( ! ,f$]al ,deposit ,insurance ,act7 f ano!r in/itution t is n subject to ! prohibition 9 subsection 7b74 4 7b7 ,congressional notification & ju/ification = waiv]s 7#a7 ,9 g5]al ,:5ev] ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 ! ,comptroll] ( ! ,curr5cy1 or ! ,f$]al ,deposit ,insurance ,corporation waives a conc5tration limit "u section #ah7;c77#ac77;,b7 or section #dd7;e7 ( ! ,f$]al ,deposit ,insurance ,act or "u section #c7;d77#e71 section #d7;i77#h77;,b71 or section #ad7;c77#b7 ( ! ,bank ,hold+ ,company ,act ( #aief1 9 connection ) ! acquisition ( a bank or insur$ depository in/itution 9 default or 9 dang] ( default1 or 9 connection ) an acquisition ) respect to :i* ! ,f$]al ,deposit ,insurance ,corporation provides assi/ance "u section #ac ( ! ,f$]al ,deposit ,insurance ,act1 ! waiv+ ag5cy & ! ,f$]al ,deposit ,insurance ,corporation1 jo9tly1 %all1 n lat] ?an #cj days aft] su* waiv]1 submit a writt5 report to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs 9 ! ,s5ate conta9+-- 7,a7 a ju/ification = ! waiv]1 includ+ an analysis ( :y x 0 necess>y to prev5t significant economic disruption or significant adv]se effects on f9ancial /ability2 7,b7 a description ( alt]native bids or outcomes consid]$1 includ+ ef=ts to solicit & enc\rage bids f entities t w\ld n require a waiv]2 7,c7 an explanation ( :y alt]native bids 7 n select$1 if applicable2 & 7,d7 any recomm5dations = legislative or regulatory *anges to improve competition 9 future insur$ depository in/itution resolutions4 7#b7 ,public disclosure ,! waiv+ ag5cy submitt+ a report "u p>agraph 7#a7 & ! ,f$]al ,deposit ,insurance ,corporation %all make ! report publicly available on _! respective websites1 subject to r$actions = confid5tial sup]visory in=mation & any o!r in=mation describ$ "u section #eeb7;b7 ( title #e1 ,unit$ ,/ates ,code4 7c7 ,limitation on consid]+ bad fai? bids 9 lea/ co/ det]m9ation ,section #ac7;c77#d7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbc7;c77#d771 z am5d$ by section #fjg7;a77#c71 is fur!r am5d$ by add+ at ! end ! foll[+3 7,j7 ,limitation on consid]+ bad fai? bids ,9 mak+ a det]m9ation "u ?is p>agraph ( :e!r an ex]cise ( au?ority is ! lea/ co/ly to ! ,deposit ,insurance ,fund1 ! ,corporation may n consid] any application1 propos$ application1 or bid f a company1 if su* application1 propos$ application1 or bid w\ld result 9 violation (-- 7i7 section #ah7;c77#ac7 or #dd7;b77#b72 or 7ii7 section #c7;d77#b71 #d7;i77#h71 or #ad ( ! ,bank ,hold+ ,company ,act ( #aief4 4 #fji4 ,advanc+ ! ,m5tor-,protg ,program = ,small ,f9ancial ,in/itutions 7a7 ,9 g5]al ,section #cjh ( ! ,f9ancial ,in/itutions ,re=m1 ,recov]y1 & ,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4 #adfc note7 is am5d$ by add+ at ! end ! foll[+ new subsection3 7d7 ,f9ancial ,ag5t ,m5tor-,protg ,program 7#a7 ,9 g5]al ,! ,secret>y ( ! ,treasury %all e/abli% a program to be kn[n z ! ,f9ancial ,ag5t ,m5tor-,protg ,program 79 ?is subsection ref]r$ to z ! ,program7 "u :i* a f9ancial ag5t designat$ by ! ,secret>y or a l>ge f9ancial in/itution may s]ve z a m5tor1 "u guidance or regulations prescrib$ by ! ,secret>y1 to a small f9ancial in/itution to all[ su* small f9ancial in/itution-- 7,a7 to be prep>$ to p]=m z a f9ancial ag5t2 or 7,b7 to improve capacity to provide s]vices to ! cu/om]s ( ! small f9ancial in/itution4 7#b7 ,outrea* ,! ,secret>y %all hold outrea* ev5ts to promote ! p>ticipation ( f9ancial ag5ts1 l>ge f9ancial in/itutions1 & small f9ancial in/itutions 9 ! ,program at lea/ once a ye>4 7#c7 ,exclusion ,! ,secret>y %all issue guidance or regulations to e/abli% a process "u :i* a f9ancial ag5t1 l>ge f9ancial in/itution1 or small f9ancial in/itution may be exclud$ f p>ticipation 9 ! ,program4 7#d7 ,report ,! ,secret>y %all report to ,congress in=mation p]ta9+ to ! ,program1 includ+-- 7,a7 ! numb] ( f9ancial ag5ts1 l>ge f9ancial in/itutions1 & small f9ancial in/itutions p>ticipat+ 9 su* ,program2 & 7,b7 ! numb] ( outrea* ev5ts describ$ 9 p>agraph 7#b7 held dur+ ! ye> cov]$ by su* report4 7#e7 ,def9itions ,9 ?is subsection3 7,a7 ,f9ancial ag5t ,! t]m f9ancial ag5t means any national bank+ association designat$ by ! ,secret>y ( ! ,treasury to be employ$ z a f9ancial ag5t ( ! ,gov]nm5t4 7,b7 ,l>ge f9ancial in/itution ,! t]m l>ge f9ancial in/itution means any entity regulat$ by ! ,comptroll] ( ! ,curr5cy1 ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 ! ,f$]al ,deposit ,insurance ,corporation1 or ! ,national ,cr$it ,union ,adm9i/ration t has total consolidat$ assets great] ?an or equal to #ej1jjj1jjj1jjj4 7,c7 ,rural depository in/itution ,! t]m rural depository in/itution means a depository in/itution 7z def9$ 9 section #c ( ! ,f$]al ,deposit ,insurance ,act7-- 7i7 ) total consolidat$ assets ( less ?an #aj1jjj1jjj1jjj2 & 7ii7 locat$ 9 a rural area1 z def9$ "u section #ajbf4ce7;b77#b77;iv77,a7 ( title #ab1 ,code ( ,f$]al ,regulations4 7,d7 ,small f9ancial in/itution ,! t]m small f9ancial in/itution means-- 7i7 any entity regulat$ by ! ,comptroll] ( ! ,curr5cy1 ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 ! ,f$]al ,deposit ,insurance ,corporation1 or ! ,national ,cr$it ,union ,adm9i/ration t has total consolidat$ assets less ?an or equal to #b1jjj1jjj1jjj2 7ii7 a m9ority depository in/itution2 or 7iii7 a rural depository in/itution4 4 7b7 ,effective date ,?is section & ! am5dm5t made by ?is section %all take effect #ij days aft] ! date ( ! enactm5t ( ?is ,act4 #faj4 ,am]ican ,access to ,bank+ 7a7 ,/reaml9+ application process & review ( capital rais+ by de novo regulat$ in/itutions 7#a7 ,9 g5]al ,ea* ( ! ,f$]al f9ancial in/itutions regulatory ag5cies %all-- 7,a7 = ! purpose ( /reaml9+ ! process ( apply+ to become a de novo regulat$ in/itution1 conduct a review ( any application =ms relat$ to su* process2 7,b7 to ! ext5t practicable1 ga!r in=mation ne$$ f applicants seek+ to become a de novo regulat$ in/itution f o!r ,f$]al ,gov]nm5t ag5cies or public s\rces to m9imize in=mation reque/s ( su* applicants2 & 7,c7 9 consultation ) ! ,securities & ,ex*ange ,commission1 review h[ de novo regulat$ in/itutions raise capital :ile ma9ta9+ inve/or protections1 includ+ ! impact (-- 7i7 g5]al capital rais+ re/rictions2 & 7ii7 capital rais+ re/rictions relat$ to individuals :o are n accr$it$ inve/ors4 7#b7 ,report ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is section1 & annually = #e ye>s !reaft]1 ea* ( ! ,f$]al f9ancial in/itutions regulatory ag5cies %all submit to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate & publi% on a public website ( su* ag5cy a report t conta9s-- 7,a7 a description ( ! actions tak5 by su* ag5cy pursuant to p>agraph 7#a72 & 7,b7 z appropriate1 any adm9i/rative or legislative recomm5dations ) respect to ! purpose describ$ 9 p>agraph 7#a77;,c74 7b7 ,improv+ communication ) de novo regulat$ in/itutions 7#a7 ,9 g5]al ,ea* ( ! ,f$]al f9ancial in/itutions regulatory ag5cies %all1 at ! reque/ ( an applicant to become a de novo regulat$ in/itution1 designate an employee ( ! ag5cy z a casework]1 :o may p]=m su* duty 9 addition to ! o!r duties ( ! employee4 7#b7 ,casework] duties ,ea* casework] describ$ 9 p>agraph 7#a7 %all1 to ! maximum ext5t practicable-- 7,a7 meet ) ! lead organiz]s apply+ to become a de novo regulat$ in/itution to provide a tutorial ) respect to ! application process2 & 7,b7 be ! prim>y po9t ( contact ( ! respective ,f$]al f9ancial in/itutions regulatory ag5cy = su* organiz]s dur+ ! application process4 7#c7 ,new casework] ,ea* ag5cy describ$ 9 p>agraph 7#a7 may designate a new casework]1 z appropriate1 to support cont9uity bas$ on /aff+ & responsibilities assign$ to ! curr5t casework]4 7c7 ,de ,novo ,m5tor-,protg p>tn]%ips 7#a7 ,9 g5]al ,at ! reque/ ( an in/itution t seeks to become a de novo regulat$ in/itution1 ea* ( ! ,f$]al f9ancial in/itutions regulatory ag5cies %all1 to ! maximum ext5t practicable1 provide a li/ to su* in/itution ( simil> types ( in/itutions t-- 7,a7 7 rec5tly approv$ to become a de novo regulat$ in/itution2 & 7,b7 are int]e/$ 9 volunte]+ to s]ve z a m5tor to provide advice ab\t ! de novo application process4 7#b7 ,m5tor%ip in=mation ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is section1 ea* ( ! ,f$]al f9ancial in/itutions regulatory ag5cies %all provide public in=mation & directions on h[ an in/itution may reque/ a m5tor or s]ve z a m5tor z describ$ 9 p>agraph 7#a74 7d7 ,/ate & /akehold] engagem5t plan 7#a7 ,9 g5]al ,ea* ( ! ,f$]al f9ancial in/itutions regulatory ag5cies %all develop a plan to-- 7,a7 regul>ly consult ) ,/ate regulators to promote coop]ation betwe5 ,/ate & ,f$]al bank+ & cr$it union ag5cies 9 ! creation ( de novo regulat$ in/itutions1 includ+ respond+ to any ,/ate regulator t reque/s assi/ance on h[ a ,/ate-*>t]$ f9ancial in/itution c reque/ ,f$]al insurance2 7,b7 regul>ly consult ) /akehold]s1 includ+ applicants to become de novo regulat$ in/itutions & rec5tly approv$ regulat$ in/itutions1 to in=m any re=ms t may support ! creation ( de novo regulat$ in/itutions1 includ+ rural in/itutions1 community developm5t f9ancial in/itutions1 & m9ority depository in/itutions2 & 7,c7 provide guidance1 tra9+ mat]ial1 & regul> work%ops to assi/ any int]e/$ p>ties to und]/& su* ag5cies' processes4 7#b7 ,submission to ,congress 7,a7 ,9 g5]al ,n lat] ?an #b ye>s aft] ! date ( ! enactm5t ( ?is section1 & e #e ye>s !reaft]1 ea* ( ! ,f$]al f9ancial in/itutions regulatory ag5cies %all submit to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate ! respective plan ( su* ag5cy describ$ 9 p>agraph 7#a74 7,b7 ,public comm5t ,) respect to develop+ ! plan describ$ 9 p>agraph 7#a71 ea* ( ! ,f$]al f9ancial in/itutions regulatory ag5cies %all-- 7i7 provide an opportunity = public comm5ts2 & 7ii7 take su* public comm5ts into consid]ation4 7e7 ,def9itions 7#a7 ,9 g5]al ,9 ?is section3 7,a7 ,f$]al bank+ ag5cy ,! t]m ,f$]al bank+ ag5cy has ! mean+ giv5 ! t]m 9 section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 7,b7 ,f$]al f9ancial in/itutions regulatory ag5cies ,! t]m ,f$]al f9ancial in/itutions regulatory ag5cies has ! mean+ giv5 ! t]m 9 section #ajjc ( ! ,f$]al ,f9ancial ,in/itutions ,exam9ation ,c\ncil ,act ( #aigh 7#ab ,u4,s4,c4 #ccjb74 7,c7 ,regulat$ in/itution ,! t]m regulat$ in/itution means-- 7i7 ) respect to a ,f$]al bank+ ag5cy1 a depository in/itution 7z su* t]m is def9$ 9 section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac77 = :i* ! ,f$]al bank+ ag5cy is ! appropriate ,f$]al bank+ ag5cy 7z su* t]m is def9$ 9 su* section #c72 & 7ii7 ) respect to ! ,national ,cr$it ,union ,adm9i/ration1 an insur$ cr$it union 7z su* t]m is def9$ 9 section #aja ( ! ,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4 #ageb774 7,d7 ,/ate ,! t]m ,/ate means ea* ( ! sev]al ,/ates1 ! ,di/rict ( ,columbia1 & ea* t]ritory ( ! ,unit$ ,/ates4 7,e7 ,/ate regulator ,! t]m ,/ate regulator means-- 7i7 ) respect to a ,f$]al bank+ ag5cy1 a ,/ate bank+ regulator2 & 7ii7 ) respect to ! ,national ,cr$it ,union ,adm9i/ration1 ! ,/ate regulatory ag5cy hav+ jurisdiction ov] a ,/ate cr$it union 7z su* t]m is def9$ 9 section #aja ( ! ,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4 #ageb774 7#b7 ,rule ( con/ruction ,= purposes ( ?is section1 ! process ( apply+ to become a de novo regulat$ in/itution %all include ! process ( apply+ = ,f$]al deposit insurance1 ,f$]al %>e insurance1 or memb]%ip 9 ! ,f$]al ,res]ve ,sy/em4 #faa4 ,promot+ ,new ,bank ,=mation 7a7 ,pilot phase-9 ( capital /&>ds ,! ,f$]al bank+ ag5cies may issue rules t provide = a #b-ye> phase-9 p]iod = a qualify+ community bank or its depository in/itution hold+ company to meet any ,f$]al capital requirem5ts t w\ld o!rwise be applicable to ! qualify+ community bank or its depository in/itution hold+ company1 beg9n+ on-- 7#a7 ! date on :i* ! qualify+ community bank became an insur$ depository in/itution2 or 7#b7 9 ! case ( its depository in/itution hold+ company1 ! date on :i* ! qualify+ community bank ( ! depository in/itution hold+ company became an insur$ depository in/itution4 7b7 ,pilot *anges to bus9ess plans 7#a7 ,9 g5]al ,dur+ ! #b-ye> p]iod beg9n+ on ! date on :i* a qualify+ community bank became an insur$ depository in/itution1 ! qualify+ community bank or its depository in/itution hold+ company may reque/ to deviate f a bus9ess plan t has be5 approv$ by ! appropriate ,f$]al bank+ ag5cy by submitt+ a reque/ to su* ag5cy pursuant to ?is section4 7#b7 ,review ( *anges ,! appropriate ,f$]al bank+ ag5cy %all1 n lat] ?an ! end ( ! #ij-;day p]iod beg9n+ on ! receipt ( a reque/ "u p>agraph 7#a7-- 7,a7 approve1 conditionally approve1 or d5y su* reque/2 & 7,b7 notify ! applicant ( su* decision &1 if ! ag5cy d5ies ! reque/-- 7i7 provide ! applicant ) ! reason = su* d5ial2 & 7ii7 sugge/ *anges to ! reque/ t1 if adopt$1 w\ld all[ ! ag5cy to approve su* reque/4 7#c7 ,result ( failure to act ,if ! appropriate ,f$]al bank+ ag5cy fails to approve or d5y a reque/ )9 ! #ij-;day p]iod requir$ "u p>agraph 7#b71 su* reque/ %all be deem$ to be approv$4 7c7 ,pilot program /udy 7#a7 ,/udy ,! ,f$]al bank+ ag5cies %all1 jo9tly1 c>ry out a /udy on ! impact ( ! pilot program c>ri$ out pursuant to subsections 7a7 & 7b7 ( ?is section on ! =mation ( de novo insur$ depository in/itutions1 includ+ su* in/itutions :i* are rural depository in/itutions1 community developm5t f9ancial in/itutions1 & m9ority depository in/itutions1 tak+ into acc\nt safety & s\ndness1 promot+ competition1 & exp&+ access to af=dable f9ancial products & s]vices to und]s]v$ communities4 7#b7 ,report to ,congress ,n lat] ?an ,decemb] #ca1 #bjca1 ! ,f$]al bank+ ag5cies %all1 jo9tly1 issue a report to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate conta9+ all f9d+s & det]m9ations made 9 c>ry+ out ! /udy requir$ "u p>agraph 7#a74 7d7 ,/udy on de novo insur$ depository in/itutions 7#a7 ,/udy ,! ,f$]al bank+ ag5cies %all1 jo9tly1 c>ry out a /udy on-- 7,a7 ! pr9cipal causes = ! l[ numb] ( de novo insur$ depository in/itutions 9 ! #aj-ye> p]iod end+ on ! date ( enactm5t ( ?is subsection2 7,b7 ways to promote m de novo insur$ depository in/itutions 9 areas curr5tly und]s]v$ by insur$ depository in/itutions2 & 7,c7 ways to ensure de novo depository in/itutions1 includ+ in/itutions :i* are rural depository in/itutions1 community developm5t f9ancial in/itutions1 & m9ority depository in/itutions1 c utilize ! ,community ,bank ,lev]age ,ratio4 7#b7 ,report to congress ,n lat] ?an ! end ( ! #a-ye> p]iod beg9n+ on ! date ( enactm5t ( ?is ,act1 ! ,f$]al bank+ ag5cies %all1 jo9tly1 issue a report to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate conta9+ all f9d+s & det]m9ations made 9 c>ry+ out ! /udy requir$ "u p>agraph 7#a74 7e7 ,def9itions ,9 ?is section3 7#a7 ,appropriate ,f$]al bank+ ag5cy ,! t]m appropriate ,f$]al bank+ ag5cy has ! mean+ giv5 ! t]m 9 section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 7#b7 ,depository in/itution ,! t]m depository in/itution has ! mean+ giv5 ! t]m 9 section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 7#c7 ,depository in/itution hold+ company ,! t]m depository in/itution hold+ company has ! mean+ giv5 ! t]m 9 section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 7#d7 ,f$]al bank+ ag5cy ,! t]m ,f$]al bank+ ag5cy has ! mean+ giv5 ! t]m 9 section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 7#e7 ,insur$ depository in/itution ,! t]m insur$ depository in/itution has ! mean+ giv5 ! t]m 9 section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 7#f7 ,qualify+ community bank ,! t]m qualify+ community bank means a depository in/itution t-- 7,a7 includ+ its hold+ company & all ( its subsidi>ies & affiliates1 has total comb9$ assets ( less ?an #aj1jjj1jjj1jjj2 & 7,b7 became an insur$ depository in/itution betwe5 ,janu>y #a1 #bjbf1 & ,decemb] #ca1 #bjbh4 #fab4 ,rural ,depositories ,revitalization ,/udy 7a7 ,/udy ,! ,f$]al bank+ ag5cies %all1 jo9tly1 c>ry out a /udy-- 7#a7 to id5tify me?ods to improve ! gr[?1 capital adequacy1 & pr(itability ( depository in/itutions 9 ! ,unit$ ,/ates t prim>ily s]ve rural areas2 & 7#b7 to id5tify ,f$]al /atutes 7o!r ?an appropriations ,acts7 or regulations ( ! ,f$]al bank+ ag5cies t limit-- 7,a7 ! me?ods id5tifi$ "u p>agraph 7#a72 or 7,b7 ! e/abli%m5t ( de novo depository in/itutions 9 rural areas4 7b7 ,report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,f$]al bank+ ag5cies %all1 jo9tly1 issue a report to ,congress conta9+ all f9d+s & det]m9ations made 9 c>ry+ out ! /udy requir$ "u subsection 7a74 7c7 ,/udy on ,rural ,cr$it ,unions ,! ,national ,cr$it ,union ,adm9i/ration %all c>ry out a /udy-- 7#a7 to id5tify me?ods to improve ! gr[?1 capital adequacy1 & pr(itability ( cr$it unions 9 ! ,unit$ ,/ates t prim>ily s]ve rural areas2 & 7#b7 to id5tify ,f$]al /atutes 7o!r ?an appropriations ,acts7 or regulations ( ! ,national ,cr$it ,union ,adm9i/ration t limit-- 7,a7 ! me?ods id5tifi$ "u p>agraph 7#a72 or 7,b7 ! e/abli%m5t ( de novo cr$it unions 9 rural areas4 7d7 ,report on ,rural ,cr$it ,unions ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,national ,cr$it ,union ,adm9i/ration %all issue a report to ,congress conta9+ all f9d+s & det]m9ations made 9 c>ry+ out ! /udy requir$ "u subsection 7c74 7c7 ,def9itions ,9 ?is section3 7#a7 ,depository in/itution ,! t]m depository in/itution has ! mean+ giv5 t t]m 9 section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 7#b7 ,f$]al bank+ ag5cies ,! t]m ,f$]al bank+ ag5cies means ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 ! ,comptroll] ( ! ,curr5cy1 & ! ,f$]al ,deposit ,insurance ,corporation4 7#c7 ,rural ,) respect to an area1 ! t]m rural has ! mean+ giv5 t t]m 9 section #ajbf4ce7;b77#b77;iv77,a7 ( title #ab1 ,code ( ,f$]al ,regulations4 #fac4 ,discretion>y ,surplus ,fund 7a7 ,9 g5]al ,! doll> am\nt specifi$ "u section #g7;a77#c77;,a7 ( ! ,f$]al ,res]ve ,act 7#ab ,u4,s4,c4 #bhi7;a77#c77;,a77 is r$uc$ by #aae1jjj1jjj4 7b7 ,effective date ,! am5dm5t made by subsection 7a7 %all take effect on ,septemb] #cj1 #bjce4 ,pass$ ! ,h\se ( ,repres5tatives ,febru>y #i1 #bjbf4,kev9 ,f4 ,mc,cumber1,cl]k4 ,febru>y #bd1 #bjbf,read ! second "t & plac$ on ! cal5d>