,,ii  #aai? ,,congress  #a/ ,session    
,s4 #bdfj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #bd1 #bjbe ,mr4  
,banks 7= himself & ,mr4 ,w>n]7         
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to e/abli% a pilot program to  
conv]t blight$ build+s into h\s+4  #a4  
,%ort title  ,?is ,act may be cit$ z !  
,revitaliz+ ,empty ,/ructures ,into     
,desirable ,environm5ts ,act or !       
,,reside ,act4  #b4  ,blight$ ,build+ to
 ,h\s+ ,conv]sion ,program  7a7         
,def9itions  ,9 ?is section3 7#a7       
,atta9able h\s+ ,! t]m atta9able h\s+   
means h\s+ t--  7,a7 s]ves h\seholds    
e>n+ n m ?an #ajj p]c5t ( ! area m$ian  
income1 if a majority ( ! h\s+ units are
 af=dable to h\seholds e>n+ n m ?an #hj 
p]c5t ( ! area m$ian income2 or  7,b7   
s]ves h\seholds e>n+ n m ?an #abj p]c5t 
( ! area m$ian income1 if ! majority ( !
 h\s+ units are af=dable to h\seholds   
e>n+ n m ?an #fj p]c5t ( ! area m$ian   

income4  7#b7  ,conv]t$ h\s+ unit  ,!   
t]m conv]t$ h\s+ unit means a h\s+ unit 
t is creat$ us+ a cov]$ grant4  7#c7    
,cov]$ grant  ,! t]m cov]$ grant means a
 grant aw>d$ "u ! ,pilot ,program4  7#d7
  ,eligible entity  ,! t]m eligible     
entity means a p>ticipat+ jurisdiction1 
z t t]m is def9$ 9 section #ajd ( !     
,cran/on-,gonzalez ,national ,af=dable  
,h\s+ ,act 7#db ,u4,s4,c4 #abgjd74  7#e7
  ,,home ,inve/m5t ,p>tn]%ips ,program  
,! t]m ,,home ,inve/m5t ,p>tn]%ips      
,program means ! program "u subtitle ,a 
( title ,,ii ( ! ,cran/on-,gonzalez     
,national ,af=dable ,h\s+ ,act 7#db     
,u4,s4,c4 #abgda et seq474  7#f7  ,pilot
 ,program  ,! t]m ,pilot ,program means 
! ,blight$ ,build+ to ,h\s+ ,conv]sion  
,program c>ri$ out "u subsection 7b74   
7#g7  ,secret>y  ,! t]m ,secret>y means 
! ,secret>y ( ,h\s+ & ,urban            
,developm5t4  7#h7  ,vacant & ab&on$    
build+  ,! t]m vacant & ab&on$ build+   
means a prop]ty--  7,a7 t 0 con/ruct$ = 
use z a w>eh\se1 factory1 mall1 /rip    

mall1 or hotel1 or = ano!r indu/rial or 
comm]cial use2 &  7,b7  7i7 ) respect to
 :i*-- 7,i7 a code en=cem5t inspection  
has det]m9$ t ! prop]ty is n safe2 &    
7,,ii7 n less ?an #ij days h elaps$ s9ce
 ! own] 0 notifi$ ( ! defici5cies 9 !   
prop]ty & ! own] has tak5 no corrective 
action2 or  7ii7 t is subject to a      
c\rt-ord]$ receiv]%ip or nuisance       
abatem5t relat$ to ab&onm5t pursuant to 
,/ate or local law or o!rwise meets !   
def9ition ( an ab&on$ prop]ty "u ,/ate  
law4  7b7  ,grant program  ,= ea* (     
fiscal ye>s #bjbg ?r\gh #bjca1 if !     
am\nts made available to c>ry out !     
,,home ,inve/m5t ,p>tn]%ips ,program    
exce$ #a1cej1jjj1jjj1 ! ,secret>y may   
use n m ?an #ajj1jjj1jjj ( ! excess     
am\nts to c>ry out a pilot program1 to  
be kn[n z ! ,blight$ ,build+ to ,h\s+   
,conv]sion ,program1 "u :i* ! ,secret>y 
aw>ds grants on a competitive basis to  
eligible entities to conv]t vacant &    
ab&on$ build+s into atta9able h\s+4  7c7
  ,am\nt ( grant  7#a7  ,9 g5]al  ,= any

 fiscal ye> = :i* #ajj1jjj1jjj is       
available to c>ry out ! ,pilot ,program 
pursuant to subsection 7b71 ! am\nt ( a 
cov]$ grant %all be n less ?an          
#a1jjj1jjj & n m ?an #aj1jjj1jjj4  7#b7 
,fiscal ye>s ) l[] fund+  ,= any fiscal 
ye> = :i* less ?an #ajj1jjj1jjj is      
available to c>ry out ! ,pilot ,program 
pursuant to subsection 7b71 ! ,secret>y 
%all seek to maximize ! numb] ( cov]$   
grants aw>d$4  7d7  ,relation to ,,home 
,inve/m5t ,p>tn]%ips ,program =mula     
allocation  ,a cov]$ grant aw>d$ to an  
eligible entity %all be 9 addition to1 &
 %all n affect1 ! =mula allocation = !  
eligible entity "u ! ,,home ,inve/m5t   
,p>tn]%ips ,program4  7e7  ,priority  ,9
 aw>d+ cov]$ grants1 ! ,secret>y %all   
give priority to an eligible entity t-- 
7#a7 w use ! cov]$ grant 9 a community t
 is exp]i5c+ economic di/ress2  7#b7 w  
use ! cov]$ grant 9 a qualifi$          
opportunity zone 7z def9$ 9 section     
#adjj,z-#a7;a7 ( ! ,int]nal ,rev5ue     
,code ( #aihf72  7#c7 w use ! cov]$     

grant to con/ruct h\s+ t w s]ve a ne$   
id5tifi$ 9 ! compreh5sive h\s+          
af=dability /rategy & community         
developm5t plan ( ! eligible entity "u  
"p #ia ( title #bd1 ,code ( ,f$]al      
,regulations1 or any successor          
regulation 7commonly ref]r$ to z a      
consolidat$ plan72 or  7#d7 has enact$  
ord9ances to r$uce regulatory b>ri]s to 
conv]sion ( comm]cial or indu/rial      
prop]ties to h\s+1 :i* %all n include   
any alt]ation ( an ord9ance t gov]ns    
safety & habitability4  7f7  ,use (     
funds  ,an eligible entity may use a    
cov]$ grant =-- 7#a7 prop]ty            
acquisition2  7#b7 demolition2  7#c7    
heal? haz>d rem$iation2  7#d7 site      
prep>ation2  7#e7 con/ruction1          
r5ovation1 or rehabilitation2 or  7#f7 !
 e/abli%m5t1 ma9t5ance1 or expansion (  
community l& tru/s4  7g7  ,applicability
 ( ,,home requirem5ts  ,! requirem5ts = 
r5tal1 sale1 & resale ( h\s+ "u ! ,,home
 ,inve/m5t ,p>tn]%ips ,program %all     
apply to r5tal1 sale1 & resale ( conv]t+

 h\s+ units "u ! ,pilot ,program4  7h7  
,waiv] au?ority  ,9 adm9i/]+ cov]$      
grants1 ! ,secret>y may waive1 or       
specify alt]native requirem5ts =1 any   
/atute or regulation t ! ,secret>y      
adm9i/]s 9 connection ) ! obligation by 
! ,secret>y or ! use by eligible        
entities ( cov]$ grant funds 7except =  
requirem5ts relat$ to fair h\s+1        
nondiscrim9ation1 labor /&>ds1 or !     
environm5t7 if ! ,secret>y makes a      
public f9d+ t good cause exi/s = ! waiv]
 or alt]native requirem5t4  7i7  ,/udy2 
report  ,n lat] ?an #ahj days aft] !    
t]m9ation ( ! ,pilot ,program1 !        
,secret>y %all /udy & submit a report to
 ,congress on ! impact ( ! ,pilot       
,program on--  7#a7 improv+ ! tax base (
 local communities2  7#b7 increas+      
access to af=dable h\s+1 especially =   
eld]ly individuals1 disabl$ individuals1
 & vet]ans2  7#c7 increas+ home[n]%ip2 &
  7#d7 remov+ blight4