,,ii  #aai? ,,congress  #b;d ,session   
,s4 #edgc  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #bc1         
#bjbf,mr4 ,m]kley 7= himself & ,mr4     
,wyd57 introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to e/abli% ,home[n]%ip ,promise
 ,acc\nts to provide mat*+ d[npaym5t    
grants1 & = o!r purposes4  #a4 ,%ort    
title ,?is ,act may be cit$ z !         
,home[n]%ip ,promise ,act4  #b4         
,def9itions ,9 ?is ,act3 7#a7 ,community
 developm5t f9ancial in/itution ,! t]m  
community developm5t f9ancial in/itution
 has ! mean+ giv5 ! t]m 9 section #ajc (
 ! ,community ,developm5t ,bank+ &      
,f9ancial ,in/itutions ,act ( #aiid 7#ae
 ,u4,s4,c4 #dgjb74  7#b7 ,eligible      
family ,! t]m eligible family means #a  
or #b fir/-"t homebuy]s :o are n less   
?an #ah ye>s old4  7#c7 ,eligible home  
,! t]m eligible home means a pr9cipal   
resid5ce acquir$ by an eligible family  
at a pur*ase price1 n includ+ clos+     

co/s1 t does n exce$ ! m$ian s+le-family
 pur*ase price = ! area z det]m9$ by !  
,secret>y ) su* adju/m5ts = diff]5ces 9 
/ructure1 & = new & old h\s+ z !        
,secret>y det]m9es to be appropriate4   
7#d7 ,fir/-"t homebuy] ,! t]m fir/-"t   
homebuy] means an individual :o-- 7,a7  
has nev] own$ a pr9cipal resid5ce2 &    
7,b7 has complet$ a h\s+ c\nsel+ program
 approv$ by ! ,dep>tm5t ( ,h\s+ & ,urban
 ,developm5t4  7#e7 ,pr9cipal resid5ce  
,! t]m pr9cipal resid5ce means a dwell+ 
t is-- 7,a7 physically occupi$ by an    
eligible family on a p]man5t basis2 &   
7,b7 ! address ( record = ! eligible    
family = ,f$]al income tax report+1 vot]
 regi/ration1 or occupational lic5s+1 if
 applicable4  7#f7 ,secret>y ,! t]m     
,secret>y means ! ,secret>y ( ,h\s+ &   
,urban ,developm5t4  #c4 ,home[n]%ip    
,promise ,acc\nts  7a7 ,e/abli%m5t ,!   
,secret>y %all e/abli% a mat*+ d[npaym5t
 grant1 to be kn[n z a ,home[n]%ip      
,promise ,acc\nt1 t is accessible to    
eligible families = d[npaym5t exp5ses at

 ! clos+ settlem5t ( an eligible home4  
7b7 ,acc\nt requirem5ts  7#a7 ,9 g5]al  
,an eligible family may op5 a           
,home[n]%ip ,promise ,acc\nt at any     
p>ticipat+ community developm5t f9ancial
 in/itution4  7#b7 ,int]e/ accru$ ,a    
community developm5t f9ancial in/itution
 t makes ,home[n]%ip ,promise ,acc\nts  
available to eligible families %all pay 
an int]e/ rate comp>able to ! rate (f]$ 
to unre/rict$ sav+s acc\nts at !        
in/itution4  7#c7 ,balance ,! balance ( 
a ,home[n]%ip ,promise ,acc\nt-- 7,a7   
prior to ! clos+ ( an eligible home1    
%all only conta9 ! p]sonal contributions
 made by an eligible family2 &  7,b7 may
 n exce$ #fj1jjj 7exclud+ int]e/71 (    
:i*-- 7i7 n m ?an #aj1jjj 7exclud+      
int]e/7 may consi/ (-- 7,i7 p]sonal     
contributions made by an eligible       
family1 :i* are n requir$ to be made on 
a consecutive1 ye>ly basis2  7,,ii7     
contributions made by ! employ] ( a     
memb] ( an eligible family on behalf ( t
 memb]2 &  7,,iii7 contributions made by

 a nonpr(it organization on behalf ( a  
memb] ( an eligible family2 &  7ii7 n m 
?an #ej1jjj may consi/ ( mat*+          
contributions made by ! ,secret>y "u    
p>agraph 7#d74  7#d7 ,mat*+ requirem5t  
,= e #a made 9 p]sonal contributions by 
an eligible family "u p>agraph          
7#c77;,b77i77,i71 ! ,secret>y %all make 
a mat*+ grant ( #e1 = a total           
contribution by ! ,secret>y ( n m ?an   
#ej1jjj4  7#e7 ,em]g5cy )drawal ,an     
eligible family may make an em]g5cy     
)drawal ( p]sonal contributions made "u 
p>agraph 7#c77;,b77i77,i7 = any reason1 
includ+ exp5ses unrelat$ to ! clos+ ( an
 eligible home1 9 any am\nt4  7#f7      
,settlem5t ,at ! clos+ = ! pur*ase ( an 
eligible home1 n m ?an #b eligible      
families ) ,home[n]%ip ,promise ,acc\nts
 may contribute am\nts to ! clos+ f !   
acc\nts4  7c7 ,au?orization (           
appropriations ,!re are au?oriz$ to be  
appropriat$ to ! ,secret>y su* sums z   
may be necess>y to c>ry out ?is section4