,i #aaith ,,congress #b;d ,session ,h4 ,r4 #iedj ,,in ,,the ,,house ,,of ,,representatives ,june #cj1 #bjbf,ms4 ,balint 7for herself1 ,mr4 ,garca of ,illinois1 ,mr4 ,goldman of ,new ,york1 ,ms4 ,norton1 ,ms4 ,stansbury1 ,mr4 ,mullin1 ,mr4 ,jackson of ,illinois1 ,mr4 ,johnson of ,georgia1 ,ms4 ,garcia of ,texas1 ,mrs4 ,mc,iver1 ,ms4 ,omar1 ,ms4 ,tlaib1 ,mr4 ,mc,govern1 and ,mrs4 ,ramirez7 introduced the following bill2 which was referred to the ,committee on ,financial ,services1 and in addition to the ,committee on ,ways and ,means1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to address the housing crisis through strong perpetual affordability provisions and shared equity housing models1 bold investments to increase and preserve the national affordable housing supply1 center inclusive local zoning and land use1 provide relief for rural renters1 and funding paths to homeownership4 #a4 ,short title2 ,table of contents 7a7 ,short title ,this ,act may be cited as the ,community ,housing ,act of #bjbf4 7b7 ,table of contents ,the table of contents is as follows3 ,sec4 #a4 ,short title2 ,table of contents4 ,sec4 #b4 ,congressional findings4 ,sec4 #c4 ,severability4 ,title ,i--,investments in ,housing ,supply ,sec4 #aja4 ,housing trust fund4 ,sec4 #ajb4 ,,gse basis point fee4 ,sec4 #ajc4 ,capital magnet fund4 ,sec4 #ajd4 ,investments in affordable and accessible housing production4 ,sec4 #aje4 ,unlocking possibilities program4 ,sec4 #ajf4 ,repeal of ,faircloth ,amendment4 ,sec4 #ajg4 ,establishment of ,,hud ,office of ,community ,land ,use and ,zoning4 ,title ,,ii--,rental ,support and ,perpetual ,affordability ,sec4 #bja4 ,,hud eviction protection grant program4 ,sec4 #bjb4 ,shared equity housing resources4 ,sec4 #bjc4 ,homeownership assistance4 ,sec4 #bjd4 ,report on tax on secondary homes4 ,sec4 #bje4 ,shared equity housing fund4 ,sec4 #bjf4 ,historic ,tax ,credit ,modernization4 ,title ,,iii--,low-cost ,financing for ,affordable ,housing ,projects ,sec4 #cja4 ,expanding ,federal ,home ,loan ,bank ,contributions to ,affordable ,housing4 ,sec4 #cjb4 ,continuation of ,,fha-,,ffb affordable rental housing financing partnership4 ,sec4 #cjc4 ,allow ,,gses to purchase mezzanine debt4 ,title ,,iv--,rural ,housing ,sec4 #dja4 ,permanent establishment of housing preservation and revitalization program2 decoupling rental assistance4 ,sec4 #djb4 ,interagency task force to coordinate delivery of substance use disorder treatment and affordable housing availability4 ,sec4 #djc4 ,rural rental housing loans4 #b4 ,congressional findings ,the ,congress finds that-- 7#a7 the cost of housing for all ,americans has increased dramatically and wages have not kept pace with these increases over the last #ej years2 7#b7 the ,housing ,trust ,fund 7,,htf7 provides a dedicated1 permanent source of funding for affordable housing2 7#c7 the ,,htf is an important source of financing for ,state housing finance agencies1 used along with tax credits and the ,,home ,investment ,partnership program 7,,home72 7#d7 the ,capital ,magnet ,fund 7,,cmf7 provides funding to nonprofits and ,community ,development ,financial ,institutions 7,c,d,f,is7 to expand financing for the development1 rehabilitation1 and purchase of affordable housing and other related economic development projects in distressed communities2 7#e7 the ,,htf and ,,cmf are funded through contributions from the ,government-sponsored enterprises 7,g,s,es7 ,fannie ,mae and ,freddie ,mac2 7#f7 the ,,home program is used1 in combination with housing tax credits1 by state housing finance agencies to build affordable rental housing2 7#g7 the ,,home program is also the primary ,federal resource for the construction of affordable family homes2 7#h7 despite its importance and effectiveness1 the ,,home program has not been adequately funded in relation to increasing costs associated with single family and multifamily housing construction2 7#i7 restrictive land use regulations disproportionately affect low- and moderate-income families by limiting the availability of quality affordable housing and driving up the costs of existing housing2 7#aj7 public housing agencies are unnecessarily prohibited from increasing their number of public housing units above the total they had in #aiib under a provision of law commonly referred to as the ,faircloth limit2 7#aa7 community land trusts or shared equity housing programs are crucial for ensuring perpetual housing affordability2 7#ab7 community land trusts or related shared equity housing programs have established legal frameworks to keep homes affordable for more than #cj years2 7#ac7 there are over #cjj community land trust entities in the ,united ,states encompassing #dc1ica housing units2 7#ad7 rental housing subsidized by the ,rural ,housing ,service 7,,rhs7 of the ,department of ,agriculture is often the only affordable option in rural communities2 7#ae7 more than half of extremely low-income rural renters experience housing insecurity2 7#af7 state and local housing finance agencies are innovating new ways to finance and cross-subsidize the creation of affordable mixed income public housing without depending on the use of scarce low-income housing tax credits2 7#ag7 low-cost debt is one of the primary ways countries around the world subsidize housing affordable housing development2 and 7#ah7 state and local housing finance agencies in the ,united ,states have reported strong support for access to low cost ,federal financing4 #c4 ,severability ,if any provision of this ,act1 any amendment made by this ,act1 or the application of any such provision or amendment to any person or circumstance is held to be unconstitutional1 the remainder of this ,act and of the amendments made by this ,act1 and the application of the remaining provisions of this ,act and amendments to any person or circumstance shall not be affected4 ,i ,investments in ,housing ,supply #aja4 ,housing trust fund ,section #acch7;a7 of the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #defh7;a77 is amended by adding at the end the following3 7#c7 ,appropriation ,in addition to amounts otherwise made available1 there is appropriated to the ,housing ,trust ,fund1 out of any money in the ,treasury not otherwise appropriated1 #dd1ejj1jjj1jjj for each of fiscal years #bjbg through #bjcf4 4 #ajb4 ,,gse basis point fee ,section #accg7;a7 of the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #defg7 is amended-- 7#a7 in paragraph 7#a77;,a71 by striking #d4b basis points and inserting #aj basis points2 and 7#b7 in paragraph 7#b77;,a71 by striking #d4b basis points and inserting #aj basis points4 #ajc4 ,capital magnet fund ,section #acci of the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #defi7 is amended by adding at the end the following3 7k7 ,appropriation ,in addition to amounts otherwise made available1 there is appropriated to the ,capital ,magnet ,fund1 out of any money in the ,treasury not otherwise appropriated1 #a1ejj1jjj1jjj for each of fiscal years #bjbg through #bjcf4 4 #ajd4 ,investments in affordable and accessible housing production 7a7 ,appropriation ,in addition to amounts otherwise made available1 there is appropriated to the ,secretary of ,housing and ,urban ,development 7in this section referred to as the ,secretary7 for fiscal year #bjbg1 out of any money in the ,treasury not otherwise appropriated-- 7#a7 #i1ibe1jjj1jjj1 to remain available until ,september #cj1 #bjcj1 for activities and assistance for the ,,home ,investment ,partnerships ,program 7in this section referred to as the ,,home program71 as authorized under sections #bda through #bdb1 #bdd through #bec1 #bee through #bef1 and #bha through #bij of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgda-abgdb1 #db ,u4,s4,c4 #abgdd-abgec1 #db ,u4,s4,c4 #abgee-abgef1 #db ,u4,s4,c4 #abhca-abhdj7 7in this section referred to as ,,naha71 subject to the terms and conditions paragraph 7#a77;,a7 of subsection 7b72 7#b7 #ad1ibe1jjj1jjj1 to remain available until ,september #cj1 #bjcj1 for activities and assistance for the ,,home ,investment ,partnerships ,program1 as authorized under sections #bda through #bdb1 #bdd through #bec1 #bee through #bef1 and #bha through #bij of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgda-abgdb1 #db ,u4,s4,c4 #abgdd-abgec1 #db ,u4,s4,c4 #abgee-abgef1 #db ,u4,s4,c4 #abhca-abhdj71 subject to the terms and conditions in paragraphs 7#a77;,b7 and 7#b7 of subsection 7b72 7#c7 #ej1jjj1jjj1 to remain available until ,september #cj1 #bjcf1 to make new awards or increase prior awards to existing technical assistance providers to provide an increase in capacity building and technical assistance available to any grantees implementing activities or projects consistent with this section2 and 7#d7 #ajj1jjj1jjj1 to remain available until ,september #cj1 #bjcf1 for the costs to the ,secretary of administering and overseeing the implementation of this section and the ,,home and ,housing ,trust ,fund programs generally1 including information technology1 financial reporting1 research and evaluations1 and other cross-program costs in support of programs administered by the ,secretary in this title1 and other costs4 7b7 ,terms and conditions 7#a7 ,formulas 7,a7 ,the ,secretary shall allocate amounts made available under subsection 7a77#a7 pursuant to section #bag of ,,naha 7#db ,u4,s4,c4 #abgdg7 to grantees that received allocations pursuant to that same formula in fiscal year #bjbd and shall make such allocations within #fj days of the enactment of this ,act4 7,b7 ,the ,secretary shall allocate amounts made available under subsection 7a77#b7 pursuant to the formula specified in section #acch7;c77#c7 of the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #defh7;c77#c77 to grantees that received ,housing ,trust ,fund allocations pursuant to that same formula in fiscal year #bjbg and shall make such allocations within #fj days of the date of the enactment of this ,act4 7#b7 ,eligible activities ,other than as provided in paragraph 7#e7 of this subsection1 funds made available under subsection 7a77#b7 may only be used for eligible activities described in subparagraphs 7,a7 through 7,b77i7 of section #acch7;c77#g7 of the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #defh7;c77#g771 except that not more than #aj percent of funds made available may be used for activities under such subparagraph 7,b77i74 7#c7 ,funding restrictions ,the commitment requirements in section #bah7;g7 7#db ,u4,s4,c4 #abgdh7;g77 of ,,naha1 the matching requirements in section #bbj 7#db ,u4,s4,c4 #abgej7 of ,,naha1 and the set-aside for housing developed1 sponsored1 or owned by community housing development organizations required in section #bca of ,,naha 7#db ,u4,s4,c4 #abgga7 shall not apply for amounts made available under this section4 7#d7 ,reallocation ,for funds provided under paragraphs 7#a7 and 7#b7 of subsection 7a71 the ,secretary may recapture certain amounts remaining available to a grantee under this section or amounts declined by a grantee1 and reallocate such amounts to other grantees under that paragraph to ensure fund expenditure1 geographic diversity1 and availability of funding to communities within the ,state from which the funds have been recaptured4 7#e7 ,administration ,notwithstanding subsections 7c7 and 7d77#a7 of section #bab of ,,naha 7#db ,u4,s4,c4 #abgdb71 grantees may use not more than #ae percent of their allocations under this section for administrative and planning costs4 7c7 ,waivers ,the ,secretary may waive or specify alternative requirements for any provision of the ,cranston-,gonzalez ,national ,affordable ,housing ,act specified in subsection 7a77#a7 or 7a77#b7 or regulation for the administration of the amounts made available under this section other than requirements related to tenant rights and protections1 fair housing1 nondiscrimination1 labor standards1 and the environment1 upon a finding that the waiver or alternative requirement is necessary to facilitate the use of amounts made available under this section4 7d7 ,implementation ,the ,secretary shall have authority to issue such regulations1 notices1 or other guidance1 forms1 instructions1 and publications to carry out the programs1 projects1 or activities authorized under this section to ensure that such programs1 projects1 or activities are completed in a timely and effective manner4 #aje4 ,unlocking possibilities program 7a7 ,appropriation ,in addition to amounts otherwise available1 there is appropriated to the ,secretary of ,housing and ,urban ,development for fiscal year #bjbg1 out of any money in the ,treasury not otherwise appropriated-- 7#a7 #a1fdf1jjj1jjj for awarding grants under sections #aja1 #ajb1 #ajc1 #ajd7;a7 through #ajd7;i71 #ajd7l71 #ajd7m71 #aje7;a7 through #aje7;g71 #ajf7;a77#b71 #ajf7;a77#d71 #ajf7;b7 through #ajf7;f71 #aji1 #aaj1 #aaa1 #aac1 #aae1 #aaf1 #abj1 and #abb of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecja1 #ecjb1 #ecjc1 #ecjd7;a7-7i71 #ecjd7l71 #ecjd7m71 #ecje7;a7-7g71 #ecjf7;a77#b71 #ecjf7;a77#d71 #ecjf7;b7-7f71 #ecji1 #ecaj1 #ecaa1 #ecac1 #ecae1 #ecaf1 #ecai1 and #ecba7 awarded on a competitive basis to eligible recipients to carry out grants under subsection 7c7 of this section2 7#b7 #h1jjj1jjj for research and evaluation related to housing planning and other associated costs2 7#c7 #c1jjj1jjj to provide technical assistance to grantees or applicants for grants made available by this section2 and 7#d7 #ff1jjj1jjj for the costs to the ,secretary of administering and overseeing the implementation of this section and community and economic development programs overseen by the ,secretary generally1 including information technology1 financial reporting1 research and evaluations1 and other cross-program costs in support of programs administered by the ,secretary in this title1 and other costs4 ,amounts appropriated by this section shall remain available until ,september #cj1 #bjcf4 7b7 ,program establishment ,the ,secretary of ,housing and ,urban ,development1 acting through the ,director of the ,office of ,community ,land ,use and ,zoning ,reform established under section #d7;i7 of the ,department of ,housing and ,urban ,development ,act 7as added by the amendment made by section #ajg7;a7 of this ,act71 shall establish a competitive grant program for-- 7#a7 planning grants to develop and evaluate housing plans and substantially improve housing strategies2 7#b7 streamlining regulatory requirements and shorten processes1 reform zoning codes1 increasing capacity to conduct housing inspections1 or other initiatives that reduce barriers to housing supply elasticity and affordability2 7#c7 developing and evaluating local or regional plans for community development to substantially improve community development strategies related to sustainability1 fair housing1 and location efficiency2 7#d7 implementation and livable community investment grants2 and 7#e7 research and evaluation4 7c7 ,grants 7#a7 ,planning grants ,the ,secretary shall1 under selection criteria determined by the ,secretary1 award grants under this paragraph on a competitive basis to eligible entities to assist planning activities1 including administration of such activities1 engagement with community stakeholders and housing practitioners1 to-- 7,a7 develop housing plans2 7,b7 substantially improve ,state or local housing strategies2 7,c7 develop new regulatory requirements and processes1 reform zoning codes1 increasing capacity to conduct housing inspections1 or undertake other initiatives to reduce barriers to housing supply elasticity and affordability2 7,d7 develop local or regional plans for community development2 and 7,e7 substantially improve community development strategies1 including strategies to increase availability and access to affordable housing1 to further access to public transportation or to advance other sustainable or location-efficient community development goals4 7#b7 ,implementation and livable community investment grants ,the ,secretary shall award implementation grants under this paragraph on a competitive basis to eligible entities for the purpose of implementing and administering-- 7,a7 completed housing strategies and housing plans and any planning to affirmatively further fair housing within the meaning of subsections 7d7 and 7e7 of section #hjh of the ,fair ,housing ,act 7#db ,u4,s4,c4 #fjh7 and applicable regulations and for community investments that support the goals identified in such housing strategies or housing plans2 7,b7 new regulatory requirements and processes1 reformed zoning codes1 increased capacity to conduct housing inspections1 or other initiatives to reduce barriers to housing supply elasticity and affordability that are consistent with a plan under subparagraph 7,a72 and 7,c7 completed local or regional plans for community development and any planning to increase availability and access to affordable housing1 access to public transportation and other sustainable or location-efficient community development goals4 7d7 ,coordination with ,,fta administrator ,to the extent practicable1 the ,secretary shall coordinate with the ,federal ,transit ,administrator in carrying out this section4 7e7 ,definitions ,for purposes of this section1 the following definitions apply3 7#a7 ,eligible entity ,the term eligible entity means-- 7,a7 a ,state1 insular area1 metropolitan city1 or urban county1 as such terms are defined in section #ajb of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecjb72 or 7,b7 for purposes of grants under subsection 7b77#a71 a regional planning agency or consortia4 7#b7 ,housing plan2 housing strategy 7,a7 ,housing plan ,the term housing plan means a plan of an eligible entity to1 with respect to the area within the jurisdiction of the eligible entity-- 7i7 match the creation of housing supply to existing demand and projected demand growth in the area1 with attention to preventing displacement of residents1 reducing the concentration of poverty1 and meaningfully reducing and not perpetuating housing segregation on the basis of race1 color1 religion1 natural origin1 sex1 disability1 or familial status2 7ii7 increase the affordability of housing in the area1 increase the accessibility of housing in the area for people with disabilities1 including location-efficient housing1 and preserve or improve the quality of housing in the area2 7iii7 reduce barriers to housing development in the area1 with consideration for location efficiency1 affordability1 and accessibility2 and 7iv7 coordinate with the metropolitan transportation plan of the area under the jurisdiction of the eligible entity1 or other regional plan4 7,b7 ,housing strategy ,the term housing strategy means the housing strategy required under section #aje of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgje74 7f7 ,costs to grantees ,up to #ae percent of a recipient's grant may be used for administrative costs4 7g7 ,rules of construction 7#a7 ,in general ,except as otherwise provided by this section1 amounts appropriated or otherwise made available under this section shall be subject to the community development block grant program requirements under subsection 7a77#a74 7#b7 ,exceptions 7,a7 ,housing construction ,expenditures on new construction of housing shall be an eligible expense under this section4 7,b7 ,buildings for general conduct of government ,expenditures on building for the general conduct of government1 other than the ,federal ,government1 shall be eligible under this section when necessary and appropriate as a part of a natural hazard mitigation project4 7h7 ,waivers ,the ,secretary may waive or specify alternative requirements for any provision of subsection 7a77#a7 or regulation for the administration of the amounts made available under this section other than requirements related to fair housing1 nondiscrimination1 labor standards1 and the environment1 upon a finding that the waiver or alternative requirement is not inconsistent with the overall purposes of such ,act and that the waiver or alternative requirement is necessary to facilitate the use of amounts made available under this section4 7i7 ,implementation ,the ,secretary shall have the authority to issue such regulations notices1 or other guidance1 forms1 instructions1 and publications to carry out the programs1 projects1 or activities authorized under this section to ensure that such programs1 projects1 or activities are completed in a timely and effective manner4 #ajf4 ,repeal of ,faircloth ,amendment ,section #i7;g7 of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;g7g77 is amended by striking paragraph 7#c7 7relating to limitation on new construction74 #ajg4 ,establishment of ,,hud ,office of ,community ,land ,use and ,zoning 7a7 ,in general ,section #d of the ,department of ,housing and ,urban ,development ,act 7#db ,u4,s4,c4 #cecc7 is amended by adding at the end the following new subsection3 7i7 ,office of community land use and zoning 7#b7 ,establishment ,there is established in the ,department1 in the ,office of the ,secretary1 the ,office of ,community ,land ,use and ,zoning4 7#c7 ,director ,there is established the position of ,director of the ,office of ,community ,land ,use and ,zoning4 ,the ,director shall be the head of the ,office of ,community ,land ,use and ,zoning and shall be appointed by1 and shall report to1 the ,secretary4 ,such position shall be a career-reserved position in the ,senior ,executive ,service4 7#d7 ,mission ,the mission of the ,office of ,community ,land ,use and ,zoning shall be to encourage communities to pursue land use policies that increase the availability and affordability of housing4 7#e7 ,functions ,the ,director shall have primary responsibility within the ,department for all activities and matters relating to land use and zoning reform1 including the following3 7,a7 ,to collect1 process1 assemble1 coordinate research1 and disseminate information on ,state and local regulations and policies affecting the creation and maintenance of affordable housing4 7,b7 ,to provide technical assistance to ,state and local communities regarding ,state and local regulations and policies affecting the creation and maintenance of affordable housing4 7,c7 ,to maintain a ,regulatory ,barriers ,clearinghouse and a database of land use policies across the ,united ,states4 7,d7 ,to administer the ,unlocking ,possibilities ,program under section #aje of the ,community ,housing ,act of #bjbf4 7,e7 ,to administer the ,shared ,equity ,housing ,resource ,center established under section #bjc7;b7 of the ,community ,housing ,act of #bjbf4 7,f7 ,to issue1 not later than #b years after the date of the enactment of this ,act1 guidance and best practices regarding ,state and local land use and zoning regulations and policies affecting the creation and maintenance of affordable housing1 and to maintain and update such guidance and best practices regularly4 4 7b7 ,transfer2 ,redesignation ,the ,secretary of ,housing and ,urban ,development shall provide for-- 7#a7 the transfer of the administration of the ,regulatory ,barriers ,clearinghouse of the ,department1 which as of the date of the enactment of this ,act is the responsibility of the ,office of ,policy ,development and ,research1 to the ,director of the ,office of ,community ,land ,use and ,zoning established under section #d7;i7 of the ,department of ,housing and ,urban ,development ,act1 as added by the amendment made by subsection 7a7 of this section2 and 7#b7 the redesignation of the ,regulatory ,barriers ,clearinghouse as the ,community ,land ,use and ,zoning ,research ,center4 7c7 ,authorization of appropriations ,there is authorized to be appropriated #b1jjj1jjj for each of fiscal years #bjbg through #bjca for costs of personnel for and activities of the ,office of ,community ,land ,use and ,zoning4 ,,ii ,rental ,support and ,perpetual ,affordability #bja4 ,,hud eviction protection grant program ,in addition to amounts otherwise made available1 there is appropriated to the ,secretary of ,housing and ,urban ,development for each of fiscal years #bjbg through #bjcf1 out of any money in the ,treasury not otherwise appropriated1 #aj1jjj1jjj for grants under the ,eviction ,protection ,grant ,program of the ,office of ,policy ,development and ,research4 #bjb4 ,shared equity housing resources 7a7 ,funding ,in addition to amounts otherwise made available1 there is appropriated for fiscal year #bjbg for payment to the ,neighborhood ,reinvestment ,corporation for use in neighborhood reinvestment activities1 as authorized by the ,neighborhood ,reinvestment ,corporation ,act 7#db ,u4,s4,c4 #haja-hajg71 #ab1jjj1jjj1 to remain available until ,september #cj1 #bjbi3 ,provided1 ,that such amount shall be for the promotion and development of shared equity housing models1 including for capital grants for ,neighbor,works affiliates to acquire homes for their shared equity portfolios4 7b7 ,resource center ,the ,secretary of ,housing and ,urban ,development shall establish and maintain1 under the ,office of ,community ,land ,use and ,zoning1 a ,shared ,equity ,housing ,resource ,center to provide technical and legal assistance and resources to communities and the general public regarding forming shared equity housing governance structures1 including affordable housing community land trusts4 ,there is authorized to be appropriated for each fiscal year such sums as may be necessary to operate such ,resource ,center4 #bjc4 ,homeownership assistance 7a7 ,rural homeownerhip 7#a7 ,appropriation ,in addition to amounts otherwise available1 there is appropriated to the ,secretary of ,agriculture for each of fiscal years #bjbg through #bjcf1 out of any money in the ,treasury not otherwise appropriated-- 7,a7 #d1jjj1jjj1jjj1 for gross obligations for the principal amount of direct loans as authorized by section #ejb of the ,housing ,act of #aidi 7#db ,u4,s4,c4 #adgb72 and 7,b7 #adh1djj1jjj for the cost of direct loans authorized by such section #ejb1 including the cost of modifying loans1 as defined in section #ejb of the ,congressional ,budget ,act of #aigd 7#b ,u4,s4,c4 #ffa;a74 7#b7 ,interest rate ,notwithstanding any other provision of law1 the annual interest rate payable on a direct loan authorized by section #ejb of the ,housing ,act of #aidi 7#db ,u4,s4,c4 #adgb71 as modified by payment assistance1 may not be lower than #a4j percent4 7b7 ,housing choice voucher downpayment program ,in addition to amounts otherwise available1 there is appropriated to the ,secretary of ,housing and ,urban ,development for each of fiscal years #bjbg through #bjcf1 out of any money in the ,treasury not otherwise appropriated1 #a1jjj1jjj1jjj1 for providing downpayment assistance under section #h7y77#g7 of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;f7y77#g774 #bjd4 ,report on tax on secondary homes ,the ,secretary of the ,treasury shall1 not later than #ahj days after the date of the enactment of this ,act1 submit to ,congress a report on the feasibility1 economic consequences1 and revenue effects of establishing a tax on vacation homes and short-term rental homes4 #bje4 ,shared equity housing fund 7a7 ,appropriation ,in addition to amounts otherwise available1 there is appropriated to the ,community ,restoration and ,revitalization ,fund established under subsection 7b7 for fiscal year #bjbg1 out of any money in the ,treasury not otherwise appropriated1 to remain available until ,september #cj1 #bjce1 #ejj1jjj1jjj for planning and implementation grants under sections #aja1 #ajb1 #ajc1 #ajd7;a7 through #ajd7;i71 #ajd7l71 #ajd7m71 #aje7;a7 through #aje7;g71 #ajf7;a77#b71 #ajf7;a77#d71 #ajf7;b7 through #ajf7;f71 #aji1 #aaj1 #aaa1 #aac1 #aae1 #aaf1 #abj1 and #abb of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecja1 #ecjb1 #ecjc1 #ecjd7;a7-7i71 #ecjd7l71 #ecjd7m71 #ecje7;a7-7g71 #ecjf7;a77#b7 #ecjf7;a77#d71 #ecjf7;b7-7f71 #ecji1 #ecaj1 #ecaa1 #ecac1 #ecae1 #ecaf1 #ecai1 and #ecba71 awarded on a competitive basis to eligible recipients1 as defined under subsection 7d7 of this section1 to create1 expand1 and maintain community land trusts and shared equity homeownership1 including through the acquisition1 rehabilitation1 and new construction of affordable1 accessible housing4 7b7 ,establishment of fund ,the ,secretary of ,housing and ,urban ,development 7in this section referred to as the ,secretary7 shall establish a ,shared ,equity ,fund 7in this section referred to as the ,fund7 to award planning and implementation grants on a competitive basis to eligible recipients for activities authorized under subsections 7a7 through 7g7 of section #aje of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecje7 and under this section for community-led affordable housing and community development and economic development projects4 7c7 ,use of funds ,an eligible recipient of a community land trust grant awarded under subsection 7a7 shall use such grant for establishing and operating a community land trust or shared equity homeownership program2 creation1 subsidization1 construction1 acquisition1 rehabilitation1 and preservation of housing in a community land trust or shared equity homeownership program1 and expanding the capacity of the recipient to carry out the grant1 provided that any housing units created or maintained-- 7#a7 in the case of rental units1 including units in mixed-use properties1 are affordable and accessible to a household whose income does not exceed #hj percent of the median income for the area1 as determined by the ,secretary1 for a period of not less than #cj years2 and 7#b7 in the case of homeownership units1 are affordable and accessible to households whose incomes do not exceed #abj percent of the median income for the area1 as determined by the ,secretary4 7d7 ,eligible recipient ,an eligible recipient of a planning or implementation grant under subsection 7a7 shall be a local partnership with the ability to administer the grant4 7e7 ,waivers ,the ,secretary may waive or specify alternative requirements for sections #ajd7;a7 through 7e71 #ajd7;h71 #ajd7l71 #ajd7m71 #aje7;a7 through 7g71 #ajf7;a77#b71 #ajf7;a77#d71 and #ajf7;b7 through 7f7 of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecjd7;a7 through 7e71 #ecjd7;h71 #ecjd7l71 #ecjd7m71 #ecje7;a7 through 7g71 #ecjf7;a77#b71 #ecjf7;a77#d71 and #ecjf7;b7 through 7f771 or associated regulations for the administration of the amounts made available under this section other than requirements related to fair housing1 nondiscrimination1 labor standards1 and the environment1 upon a finding that the waiver or alternative requirement is not inconsistent with the overall purposes of such ,act and that the waiver or alternative requirement is necessary to expedite or facilitate the use of amounts made available under this section4 7f7 ,definitions ,for purposes of this section1 the following definitions shall apply3 7#a7 ,community land trust ,the term community land trust means a nonprofit organization or ,state or local governments or instrumentalities that-- 7,a7 use a ground lease or deed covenant with an affordability period of at least #cj years or more to-- 7i7 make rental and homeownership units affordable to households2 and 7ii7 stipulate a preemptive option to purchase the affordable rentals or homeownership units so that the affordability of the units is preserved for successive income-eligible households2 and 7,b7 monitor properties to ensure affordability is preserved4 7#b7 ,land bank ,the term land bank means a government entity1 agency1 or program1 or a special purpose nonprofit entity formed by one or more units of government in accordance with ,state or local land bank enabling law1 that has been designated by one or more ,state or local governments to acquire1 steward1 and dispose of vacant1 abandoned1 or other problem properties in accordance with locally determined priorities and goals4 7#c7 ,shared equity homeownership program ,the term shared equity homeownership program means a program to facilitate affordable homeownership preservation through a resale restriction program administered by a community land trust1 other nonprofit organization1 or ,state or local government or instrumentalities and that utilizes a ground lease1 deed restriction1 subordinate loan1 or similar mechanism that includes provisions ensuring that the program shall-- 7,a7 maintain the home as affordable for subsequent very low-1 low-1 or moderate-income families for an affordability term of at least #cj years after recordation2 7,b7 apply a resale formula that limits the homeowner's proceeds upon resale2 and 7,c7 provide the program administrator or such administrator's assignee a preemptive option to purchase the homeownership unit from the homeowner at resale4 7g7 ,implementation ,the ,secretary shall have the authority to establish by notice any requirements that the ,secretary determines are necessary for timely and effective implementation of the program and expenditure of funds appropriated1 which requirements shall take effect upon issuance4 #bjf4 ,historic ,tax ,credit ,modernization ,not later than #ahj after the date of the enactment of this section1 the ,secretary of the ,interior1 acting through the ,director of the ,national ,park ,service1 shall revise the standards for rehabilitation and accompanying guidelines used to determine if the rehabilitation of a historic property qualifies for the ,federal ,historic ,preservation ,tax ,incentives program by providing owners of historic commercial1 multi-story properties with greater flexibility in incorporating residential dwelling units on upper floors that are not generally accessible to the public while retaining the historic characteristics of-- 7#a7 the exterior of the property2 and 7#b7 the areas of the property generally accessible to the public4 ,,iii ,low-cost ,financing for ,affordable ,housing ,projects #cja4 ,expanding ,federal ,home ,loan ,bank ,contributions to ,affordable ,housing ,section #aj7;j77#e7 of the ,federal ,home ,loan ,bank ,act 7#ab ,u4,s4,c4 #adcj7;j77#e77 is amended-- 7#a7 in subparagraph 7,c71 by striking 1 and subsequent years and inserting through #bjbf2 and 7#b7 by adding at the end the following3 7,d7 ,in #bjbg1 and subsequent years1 #bj percent of the preceding year's net income4 4 #cjb4 ,continuation of ,,fha-,,ffb affordable rental housing financing partnership ,the ,secretary of ,housing and ,urban ,development shall continue to carry out the ,,fha affordable rental housing financing partnership with the ,federal ,financing ,bank1 under which such ,bank provides financing for loans insured under the ,,fha ,multifamily ,risk-,sharing ,program under section #edb of the ,housing and ,community ,development ,act of #aiib 7#ab ,u4,s4,c4 #agjg71 and may enter into such new commitments under such program during fiscal year #bjbg and fiscal years thereafter1 subject to the overall limitations provided in this ,act on new commitments to guarantee loans insured under the ,general and ,special ,risk ,insurance ,funds1 as authorized by sections #bch and #eai of the ,national ,housing ,act 7#ab ,u4,s4,c4 #agaez-#c and #agce;c74 #cjc4 ,allow ,,gses to purchase mezzanine debt ,not later than #a year after the date of the enactment of this ,act1 the ,director of the ,federal ,housing ,finance ,agency shall issue a final rule to permit the ,federal ,national ,mortgage ,association and the ,federal ,home ,loan ,mortgage ,corporation to purchase and securitize loans made for the purpose of home construction4 ,,iv ,rural ,housing #dja4 ,permanent establishment of housing preservation and revitalization program2 decoupling rental assistance ,title ,v of the ,housing ,act of #aidi 7#db ,u4,s4,c4 #adga et seq47 is amended by adding at the end the following new section3 #ede4 ,housing preservation and revitalization program 7a7 ,establishment ,the ,secretary shall carry out a program under this section for the preservation and revitalization of multifamily rental housing projects financed under section #eae or both sections #ead and #eaf4 7b7 ,notice of maturing loans 7#a7 ,to owners ,on an annual basis1 the ,secretary shall provide written notice to each owner of a property financed under section #eae or both sections #ead and #eaf that will mature within the #d-year period beginning upon the provision of the notice1 setting forth the options and financial incentives that are available to facilitate the extension of the loan term or the option to decouple a rental assistance contract pursuant to subsection 7f74 7#b7 ,to tenants 7,a7 ,in general ,for each property financed under section #eae or both sections #ead and #eaf1 not later than the date that is #b years before the date that the loan will mature1 the ,secretary shall provide written notice to each household residing in the property that informs them of the date of the loan maturity1 the possible actions that may happen with respect to the property upon that maturity1 and how to protect their right to reside in federally assisted housing after that maturity4 7,b7 ,language ,notice under this paragraph shall be provided in plain ,english and shall be translated to other languages in the case of any property located in an area in which a significant number of residents speak such other languages4 7c7 ,loan restructuring ,under the program under this section1 in any circumstance in which the ,secretary proposes a restructuring to an owner or an owner proposes a restructuring to the ,secretary1 the ,secretary may restructure such existing housing loans1 as the ,secretary considers appropriate1 for the purpose of ensuring that those projects have sufficient resources to preserve the projects to provide safe and affordable housing for low-income residents and farm laborers1 by-- 7#a7 reducing or eliminating interest2 7#b7 deferring loan payments2 7#c7 subordinating1 reducing1 or reamortizing loan debt2 and 7#d7 providing other financial assistance1 including advances1 payments1 and incentives 7including the ability of owners to obtain reasonable returns on investment7 required by the ,secretary4 7d7 ,renewal of rental assistance 7#a7 ,in general ,when the ,secretary proposes to restructure a loan or agrees to the proposal of an owner to restructure a loan pursuant to subsection 7c71 the ,secretary shall offer to renew the rental assistance contract under section #eba7;a77#b7 for a #bj-year term that is subject to annual appropriations1 provided that the owner agrees to bring the property up to or maintain the property at such standards that will ensure maintenance of the property as decent1 safe1 and sanitary housing for the full term of the rental assistance contract4 7#b7 ,additional rental assistance 7,a7 ,in general ,with respect to a project described in paragraph 7#a71 if rental assistance is not available for all households in the project for which the loan is being restructured pursuant to subsection 7c71 the ,secretary may extend such additional rental assistance to unassisted households at that project as is necessary to make the project safe and affordable to low-income households4 7,b7 ,unavailable property ,in the event that a property is not available to provide additional rental assistance to households under subparagraph 7,a71 the ,secretary may offer a rural housing voucher to those households4 7e7 ,restrictive use agreements 7#a7 ,requirement ,as part of the preservation and revitalization agreement for a project1 the ,secretary shall obtain a restrictive use agreement that obligates the owner to operate the project in accordance with this title4 7#b7 ,term 7,a7 ,no extension of rental assistance contract ,except when the ,secretary enters into a #bj-year extension of the rental assistance contract for a project1 the term of the restrictive use agreement for the project shall be consistent with the term of the restructured loan for the project4 7,b7 ,extension of rental assistance contract ,if the ,secretary enters into a #bj-year extension of the rental assistance contract for a project1 the term of the restrictive use agreement for the project shall be for #bj years4 7,c7 ,termination ,the ,secretary may terminate the #bj-year use restrictive use agreement for a project before the end of the term of the agreement if the #bj-year rental assistance contract for the project with the owner is terminated at any time for reasons outside the control of the owner4 7f7 ,decoupling of rental assistance 7#a7 ,renewal of rental assistance contract ,if the ,secretary determines that a maturing loan for a project cannot reasonably be restructured in accordance with subsection 7c7 because it is not financially feasible or the owner does not agree with the proposed restructuring1 and the project was operating with rental assistance under section #eba1 the ,secretary may renew the rental assistance contract1 notwithstanding any provision of section #eba1 for a term1 subject to annual appropriations1 of #bj years1 provided that the owner enters into a restrictive use agreement4 7#b7 ,additional rental assistance ,with respect to a project described in paragraph 7#a71 if rental assistance is not available for all households in the project1 the ,secretary may extend such additional rental assistance to unassisted households at that project as is necessary to make the project safe and affordable to low-income households4 7#c7 ,rents ,any agreement to extend the term of the rental assistance contract under section #eba for a project shall obligate the owner to continue to maintain the project as decent1 safe1 and sanitary housing and to operate the development in accordance with this title1 except that rents shall be based on the lesser of-- 7,a7 the budget-based needs of the project2 or 7,b7 the operating cost adjustment factor as a payment standard as provided under section #ebd of the ,multifamily ,assisted ,housing ,reform and ,affordability ,act of #aiig 7#db ,u4,s4,c4 #adcg note74 7#d7 ,conditions for approval 7,a7 ,plan ,before the approval of a rental assistance contract authorized under this section1 the ,secretary shall require the owner to submit to the ,secretary a plan that identifies financing sources and a timetable for renovations and improvements determined to be necessary by the ,secretary to maintain and preserve the project4 7,b7 ,automatic approval ,if a plan submitted under subparagraph 7,a7 is not acted upon by the ,secretary within #cj days of the submission1 the rental assistance contract is automatically approved for not more than a #a-year period4 7g7 ,multifamily housing transfer technical assistance ,under the program under this section1 the ,secretary may provide grants to qualified nonprofit organizations and public housing agencies to provide technical assistance1 including financial and legal services1 to borrowers under loans under this title for multifamily housing to facilitate the acquisition of such multifamily housing properties in areas where the ,secretary determines there is a risk of loss of affordable housing4 7h7 ,transfer of rental assistance ,after the loan or loans for a rental project originally financed under section #eae or both sections #ead and #eaf have matured or have been prepaid and the owner has chosen not to restructure the loan pursuant to subsection 7c7-- 7#a7 a tenant residing in the project shall have #ah months before loan maturation or prepayment to transfer the rental assistance assigned to the unit of the tenant to another rental project originally financed under section #eae or both sections #ead and #eaf1 and such tenants will have priority for admission over other applicants2 and 7#b7 the owner of the initial project may rent the previous unit of the tenant to a new tenant without income restrictions4 7i7 ,administrative expenses ,of any amounts made available for the program under this section for any fiscal year1 the ,secretary may use not more than #a1jjj1jjj for administrative expenses for carrying out such program4 7j7 ,authorization of appropriations ,there is authorized to be appropriated for the program under this section #bjj1jjj1jjj for each of fiscal years #bjbg through #bjca4 7k7 ,rulemaking 7#a7 ,in general ,not later than #ahj days after the date of enactment of this section1 the ,secretary shall-- 7,a7 publish an advance notice of proposed rulemaking2 and 7,b7 consult with appropriate stakeholders4 7#b7 ,interim final rule ,not later than #a year after the date of enactment of this section1 the ,secretary shall publish an interim final rule to carry out this section4 4 #djb4 ,interagency task force to coordinate delivery of substance use disorder treatment and affordable housing availability 7a7 ,establishment ,the ,secretary of ,housing and ,urban ,development and the ,secretary of ,health and ,human ,services shall jointly establish an interagency task force to develop and make recommendations the ,congress to better coordinate delivery of treatment for substance use disorder in an affordable housing setting4 7b7 ,members ,the ,secretary of ,housing and ,urban ,development and the ,secretary of ,health and ,human ,services shall each appoint #e members to the task force4 7c7 ,report ,not later than the expiration of the #b-year period beginning on the date of the enactment of this ,act1 the task force shall submit a report to the ,congress making recommendations on how to better coordinate delivery of treatment for substance use disorder in an affordable housing setting4 7d7 ,termination ,the task force shall terminate #ij days after submission of the report required under subsection 7c74 #djc4 ,rural rental housing loans ,there is appropriated to the ,secretary of ,agriculture #bjj1jjj1jjj for each of the fiscal years #bjbg through #bjcg for the program described under section #eae7;a7 of the ,housing ,act of #aidi 7#db ,u4,s4,c4 #adhe7;a774