,,ii #aaith ,,congress #ast ,session ,s4 #idh ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #aa 7legislative day1 ,march #aj71 #bjbe,ms4 ,cortez ,masto 7for herself1 ,ms4 ,smith1 ,mr4 ,van ,hollen1 ,ms4 ,alsobrooks1 ,mr4 ,bennet1 ,ms4 ,rosen1 and ,mr4 ,fetterman7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to reauthorize the ,,home ,investment ,partnerships ,program1 and for other purposes4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,,home ,investment ,partnerships ,reauthorization and ,improvement ,act of #bjbe4 7b7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4,,title ,i--,reauthorization of and reforms to ,home ,investment ,partnerships ,program,sec4 #aja4 ,reauthorization of ,program4,sec4 #ajb4 ,increase in ,program administration resources4,sec4 #ajc4 ,modifications of participating jurisdiction qualification threshold and process for reallocations4,sec4 #ajd4 ,modification of jurisdictions eligible for reallocations4,,title ,,ii--,reforms relating to ,home ,investment ,partnerships ,program administration and rules,sec4 #bja4 ,amendments to qualification as affordable housing4,sec4 #bjb4 ,elimination of commitment deadline4,sec4 #bjc4 ,reform of homeownership resale restrictions4,sec4 #bjd4 ,home property inspections4,sec4 #bje4 ,revisions to strengthen enforcement and penalties for noncompliance4,sec4 #bjf4 ,tenant and participant protections for small-scale affordable housing4,sec4 #bjg4 ,establishment of home loan guarantee program4,,title ,,iii--,reforms relating to community housing development organization and nonprofit participation,sec4 #cja4 ,modification of rules related to community housing development organizations4,,title ,,iv--,technical corrections,sec4 #dja4 ,technical corrections4 ,i ,reauthorization of and reforms to ,home ,investment ,partnerships ,program #aja4 ,reauthorization of ,program ,section #bje of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgbd7 is amended to read as follows3 #bje4 ,authorization of appropriations ,there are authorized to be appropriated to carry out this title-- 7#a7 #e1jjj1jjj1jjj for fiscal year #bjbe2 7#b7 #e1bej1jjj1jjj for fiscal year #bjbf2 7#c7 #e1eab1ejj1jjj for fiscal year #bjbg2 7#d7 #e1ghh1abe1jjj for fiscal year #bjbh2 and 7#e7 #f1jgg1eca1bej for fiscal year #bjbi4 4 #ajb4 ,increase in ,program administration resources ,subtitle ,a of title ,,ii of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgda et seq47 is amended-- 7#a7 in section #bab7;c7 7#db ,u4,s4,c4 #abgdb7;c771 by striking #aj percent and inserting #ae percent2 and 7#b7 in section #bbj7;b7 7#db ,u4,s4,c4 #abgej7;b77-- 7,a7 by striking ,recognition4-- and all that follows through ,a contribution and inserting the following3 ,recognition4--,a contribution2 and 7,b7 by striking paragraph 7#b74 #ajc4 ,modifications of participating jurisdiction qualification threshold and process for reallocations ,section #baf of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgdf7 is amended-- 7#a7 in paragraph 7#c77;,a7-- 7,a7 by striking 7,a7 ,except as provided in paragraph 7#aj71 a jurisdiction and inserting the following3 7,a7 ,eligibility threshold 7i7 ,in general ,except as provided in subparagraph 7,b71 a jurisdiction 2 and 7,b7 by striking or if the ,secretary finds that and all that follows through the end of clause 7ii7 and inserting the following3 8subject to clause 7ii74 7ii7 ,inflation adjustment to eligibility threshold ,for each fiscal year after fiscal year #bjbe1 the ,secretary shall adjust the threshold amount in clause 7i7 for inflation4 2 7#b7 in paragraph 7#f7-- 7,a7 in the matter preceding subparagraph 7,a71 by inserting this title1 including the requirements in after the requirements of2 and 7,b7 by striking meet the requirements each place that term appears and inserting meet or comply with the requirements2 and 7#c7 by striking paragraph 7#aj74 #ajd4 ,modification of jurisdictions eligible for reallocations ,section #bag7;d7 of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgdg7;d77 is amended-- 7#a7 in paragraph 7#a71 by striking the second sentence and inserting the following3 ,subject to paragraph 7#c77;,a71 jurisdictions eligible for such reallocations shall include participating jurisdictions and jurisdictions meeting the requirements of this title1 including the requirements in paragraphs 7#c71 7#d71 and 7#e7 of section #baf42 and 7#b7 in paragraph 7#c71 by striking ,limitation4--,unless otherwise specified and inserting the following3 ,limitations4-- 7,a7 ,removal of participating jurisdictions from reallocation ,the ,secretary may remove a participating jurisdiction that fails to meet or comply with the requirements of this title from participation in reallocations of funds made available under this title4 7,b7 ,reallocation to same type of entity ,unless otherwise specified 4 ,,ii ,reforms relating to ,home ,investment ,partnerships ,program administration and rules #bja4 ,amendments to qualification as affordable housing ,section #bae of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgde7 is amended-- 7#a7 in subsection 7a7-- 7,a7 in paragraph 7#a77;,e71 by striking all that follows purposes of this ,act1 and inserting the following3 8except-- 7i7 upon a foreclosure by a lender 7or upon other transfer in lieu of foreclosure7 if such action-- 7,i7 recognizes any contractual or legal rights of public agencies1 nonprofit sponsors1 or others to take actions that would avoid termination of low-income affordability in the case of foreclosure or transfer in lieu of foreclosure2 and 7,,ii7 is not for the purpose of avoiding low-income affordability restrictions1 as determined by the ,secretary2 or 7ii7 where existing affordable housing is no longer financially viable due to unforeseen acts or occurrences beyond the reasonable contemplation or control of the participating jurisdiction or owner that significantly impact the financial or physical condition of the housing1 as determined by the ,secretary2 and 2 and 7,b7 by adding at the end the following3 7#g7 ,small-scale housing 7,a7 ,definition ,in this paragraph1 the term small-scale housing means housing with not more than #d rental units4 7,b7 ,alternative requirements ,small-scale housing shall qualify as affordable housing under this title if-- 7i7 the housing bears rents that comply with paragraph 7#a77;,a72 7ii7 each unit is occupied by a household that qualifies as a low-income family2 7iii7 the housing is not refused for leasing to a holder of a voucher under section #h of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;f7 because of the status of the prospective tenant as a holder of such voucher2 7iv7 the housing meets the requirements under paragraph 7#a77;,e72 and 7v7 the participating jurisdiction monitors ongoing compliance of the housing with requirements of this title in a manner consistent with the purposes of section #bbf7;b71 as determined by the ,secretary4 2 and 7#b7 in subsection 7b77#a71 by striking #ie percent and inserting #aaj percent or a percentage established by the ,secretary through notice1 whichever is greater14 #bjb4 ,elimination of commitment deadline 7a7 ,in general ,section #bah of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgdh7 is amended-- 7#a7 by striking subsection 7g72 and 7#b7 by redesignating subsection 7h7 as subsection 7g74 7b7 ,conforming amendment ,section #bah7;c7 of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgdh7;c77 is amended-- 7#a7 in paragraph 7#a71 by adding and at the end2 7#b7 by striking paragraph 7#b72 7#c7 by redesignating paragraph 7#c7 as paragraph 7#b72 and 7#d7 in paragraph 7#b71 as so redesignated1 by striking section #bbd and inserting section #bbc4 #bjc4 ,reform of homeownership resale restrictions ,section #bae of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgde71 as amended by section #bja1 is amended-- 7#a7 in subsection 7b7-- 7,a7 in paragraph 7#b71 by redesignating subparagraphs 7,a71 7,b71 and 7,c7 as clauses 7i71 7ii71 and 7iii71 respectively1 and adjusting the margins accordingly2 7,b7 by striking paragraph 7#c72 7,c7 by redesignating paragraphs 7#a71 7#b71 and 7#d7 as subparagraphs 7,a71 7,b71 and 7,d71 respectively1 and adjusting the margins accordingly2 7,d7 by inserting after subparagraph 7,b71 as so redesignated1 the following3 7,c7 is subject to restrictions that are established by the participating jurisdiction and determined by the ,secretary to be appropriate1 including with respect to the useful life of the property1 to-- 7i7 require that any subsequent purchase of the property be-- 7,i7 only by a person who meets the qualifications specified under subparagraph 7,b72 and 7,,ii7 at a price that is determined by a formula or method established by the participating jurisdiction that provides the owner with a reasonable return on investment1 which may include a percentage of the cost of any improvements2 or 7ii7 recapture the investment provided under this title in order to assist other persons in accordance with the requirements of this title1 except where there are no net proceeds or where the net proceeds are insufficient to repay the full amount of the assistance2 and 2 7,e7 by striking ,housing that is for homeownership and inserting the following3 7#a7 ,qualification ,housing that is for homeownership 2 and 7,f7 by adding at the end the following3 7#b7 ,purchase by community land trust ,notwithstanding subparagraph 7,c77i7 of paragraph 7#a7 and under terms determined by the ,secretary1 the ,secretary may permit a participating jurisdiction to allow a community land trust that used assistance provided under this subtitle for the development of housing that meets the criteria under paragraph 7#a71 to acquire the housing-- 7,a7 in accordance with the terms of the preemptive purchase option1 lease1 covenant on the land1 or other similar legal instrument of the community land trust when the terms and rights in the preemptive purchase option1 lease1 covenant1 or legal instrument are and remain subject to the requirements of this title2 7,b7 when the purchase is for-- 7i7 the purpose of-- 7,i7 entering into the chain of title2 7,,ii7 enabling a purchase by a person who meets the qualifications specified under paragraph 7#a77;,b7 and is on a waitlist maintained by the community land trust1 subject to enforcement by the participating jurisdiction of all applicable requirements of this subtitle1 as determined by the ,secretary2 7,,iii7 performing necessary rehabilitation and improvements2 or 7,,iv7 adding a subsidy to preserve affordability1 which may be from ,federal or non-,federal sources2 or 7ii7 another purpose determined appropriate by the ,secretary2 and 7,c7 if1 within a reasonable period of time after the applicable purpose under subparagraph 7,b7 of this paragraph is fulfilled1 as determined by the ,secretary1 the housing is then sold to a person who meets the qualifications specified under paragraph 7#a77;,b74 7#c7 ,suspension or waiver of requirements for military members ,a participating jurisdiction1 in accordance with terms established by the ,secretary1 may suspend or waive a requirement under paragraph 7#a77;,b7 with respect to housing that otherwise meets the criteria under paragraph 7#a7 if the owner of the housing-- 7,a7 is a member of a regular component of the armed forces or a member of the ,national ,guard on full-time ,national ,guard duty1 active ,guard and ,reserve duty1 or inactive-duty training 7as those terms are defined in section #aja7;d7 of title #aj1 ,united ,states ,code72 and 7,b7 has received-- 7i7 temporary duty orders to deploy with a military unit or military orders to deploy as an individual acting in support of a military operation1 to a location that is not within a reasonable distance from the housing1 as determined by the ,secretary1 for a period of not less than #ij days2 or 7ii7 orders for a permanent change of station4 7#d7 ,suspension or waiver of requirements for heir or beneficiary of deceased owner ,notwithstanding subparagraph 7,c7 of paragraph 7#a71 housing that meets the criteria under that paragraph prior to the death of an owner may continue to qualify as affordable housing if-- 7,a7 the housing is the principal residence of an heir or beneficiary of the deceased owner1 as defined by the ,secretary2 and 7,b7 the heir or beneficiary1 in accordance with terms established by the ,secretary1 assumes the duties and obligations of the deceased owner with respect to funds provided under this title4 4 #bjd4 ,home property inspections ,section #bbf7;b7 of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgef7;b77 is amended-- 7#a7 by striking ,each participating jurisdiction and inserting the following3 7#a7 ,in general ,each participating jurisdiction 2 and 7#b7 by striking ,such review shall include and all that follows and inserting the following3 7#b7 ,on-site inspections 7,a7 ,inspections by units of general local government ,a review conducted under paragraph 7#a7 by a participating jurisdiction that is a unit of general local government shall include an on-site inspection to determine compliance with housing codes and other applicable regulations4 7,b7 ,inspections by ,states ,a review conducted under paragraph 7#a7 by a participating jurisdiction that is a ,state shall include an on-site inspection to determine compliance with a national standard as determined by the ,secretary4 7#c7 ,inclusion in performance report and publication ,a participating jurisdiction shall include in the performance report of the participating jurisdiction submitted to the ,secretary under section #ajh7;a71 and make available to the public1 the results of each review conducted under paragraph 7#a74 4 #bje4 ,revisions to strengthen enforcement and penalties for noncompliance ,section #bbc of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgec7 is amended-- 7#a7 in the heading1 by striking ,,penalties ,,for ,,misuse ,,of ,,funds and inserting ,,program ,,enforcement ,,and ,,penalties ,,for ,,noncompliance2 7#b7 in the matter preceding paragraph 7#a71 by inserting after any provision of this subtitle the following3 1 including any provision applicable throughout the period required by section #bae7;a77#a77;,e7 and applicable regulations12 7#c7 in paragraph 7#b71 by striking or at the end2 7#d7 in paragraph 7#c71 by striking the period at the end and inserting 2 or2 and 7#e7 by adding at the end the following3 7#d7 reduce payments to the participating jurisdiction under this subtitle by an amount equal to the amount of such payments which were not expended in accordance with this title4 4 #bjf4 ,tenant and participant protections for small-scale affordable housing ,section #bbe of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgee7 is amended by adding at the end the following3 7e7 ,tenant selection for small-,scale housing ,paragraphs 7#b7 through 7#d7 of subsection 7d7 shall not apply to the owner of small-scale housing 7as defined in section #bae7;a774 4 #bjg4 ,establishment of home loan guarantee program ,subtitle ,a of title ,,ii of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgda et seq47 is amended by adding at the end the following3 #bbg4 ,guarantee and commitment to guarantee loans for acquisition of property 7a7 ,authority 7#a7 ,in general ,the ,secretary may1 under such terms and conditions as the ,secretary may prescribe1 guarantee and make commitments to guarantee1 only to such extent or in such amounts as provided in appropriation ,acts1 the notes or obligations issued by participating jurisdictions for the purposes of financing the development or preservation of affordable rental and homeownership housing through the acquisition1 new construction1 reconstruction1 or moderate or substantial rehabilitation of affordable housing4 7#b7 ,eligible expenses ,when in support of the activities described in paragraph 7#a71 the expenses for which the ,secretary may guarantee and make commitments to guarantee notes or obligations under that paragraph include real property acquisition1 site improvement1 conversion1 demolition1 and other expenses1 including financing costs and relocation expenses of any displaced person1 family1 or business4 7b7 ,limitations and requirements 7#a7 ,eligibility ,a guarantee under this section may be used to assist a participating jurisdiction in obtaining financing only if the participating jurisdiction-- 7,a7 has made efforts to obtain such financing without the use of the guarantee1 as determined by the ,secretary2 and 7,b7 cannot complete such financing consistent with the timely execution of the project plans without the guarantee1 as determined by the ,secretary4 7#b7 ,form1 denominations1 maturities1 and conditions ,notes or other obligations guaranteed under this section shall be in such form and denominations1 have such maturities1 and be subject to such conditions as may be prescribed by regulations issued by the ,secretary4 7#c7 ,repayment period ,the ,secretary may not deny a guarantee under this section on the basis of the proposed repayment period for the note or other obligation unless-- 7,a7 the period is more than #bj years2 or 7,b7 the ,secretary determines that the period causes the guarantee to constitute an unacceptable financial risk4 7#d7 ,aggregate principal amount ,notwithstanding any other provision of law and subject only to the absence of qualified applicants or proposed activities and to the authority provided in this section1 to the extent approved or provided in appropriation ,acts1 the ,secretary shall enter into commitments to guarantee notes and obligations under this section with an aggregate principal amount of not more than-- 7,a7 #b1jjj1jjj1jjj for fiscal year #bjbe2 and 7,b7 for each subsequent fiscal year1 an amount that is increased for inflation as determined by the ,secretary4 7c7 ,prerequisites ,the ,secretary may not make a guarantee or commitment to guarantee with respect to any note or other obligation if-- 7#a7 the total outstanding notes or obligations of the issuer guaranteed under this section would thereby exceed an amount equal to #e times the most recent allocation for the issuer under this title2 or 7#b7 the ,secretary determines that the guarantee constitutes an unacceptable risk4 7d7 ,payment of principal1 interest1 and costs ,notwithstanding any other provision of this ,act1 a participating jurisdiction allocated funds under this ,act may use the funds 7including program income derived therefrom7 for the payment of principal and interest due 7including such servicing1 underwriting1 or other costs as may be specified in regulations of the ,secretary71 and any associated fee to be paid in accordance with subsection 7j71 on a note or other obligation guaranteed under this section4 7e7 ,repayment contract2 security2 pledge by participating jurisdiction ,to assure the repayment of a note or other obligation guaranteed under this section and related charges incurred under this section1 and as a condition of receiving such a guarantee1 the ,secretary shall require the issuer of the note or other obligation to-- 7#a7 enter into a contract1 in a form acceptable to the ,secretary1 for repayment of the note or other obligation2 7#b7 pledge as security the proceeds of any grant for which the issuer may become eligible under this ,act2 and 7#c7 furnish1 at the discretion of the ,secretary1 such other security as may be determined appropriate by the ,secretary in making the guarantee1 including increments in local tax receipts generated by the activities assisted under this ,act or proceeds from the sale of land or rehabilitated property4 7f7 ,pledged grants for repayments ,the ,secretary may1 notwithstanding any other provision of this ,act1 apply the proceeds of a grant pledged by a participating jurisdiction under subsection 7e77#b7 to any repayment due the ,united ,states as a result of the guarantee under this section of a note or other obligation issued by the participating jurisdiction4 7g7 ,full faith and credit of ,united ,states2 conclusiveness and validity of guarantee 7#a7 ,full faith and credit of united states pledged for payment ,the full faith and credit of the ,united ,states is pledged to the payment of a note or other obligation guaranteed under this section4 7#b7 ,conclusiveness and validity of guarantee 7,a7 ,conclusiveness ,a guarantee made by the ,secretary under this section shall be conclusive evidence of the eligibility of the obligation for the guarantee with respect to principal and interest4 7,b7 ,validity ,the validity of a guarantee made by the ,secretary under this section shall be incontestable in the hands of a holder of the guaranteed obligation4 7#c7 ,limitation on percentage ,a guarantee made under this section shall guarantee repayment of #ajj percent of the unpaid principal and interest due on the notes or other obligations guaranteed4 7h7 ,limit on outstanding obligations2 monitoring use of guarantees 7#a7 ,limit on outstanding obligations ,the total amount of outstanding obligations guaranteed on a cumulative basis by the ,secretary under this section may not at any time exceed the greater of-- 7,a7 #d1ejj1jjj1jjj2 or 7,b7 such higher amount as may be authorized to be appropriated to carry out this section for a fiscal year4 7#b7 ,monitoring use of guarantees 7,a7 ,in general ,the ,secretary shall monitor the use of guarantees under this section by participating jurisdictions4 7,b7 ,actions to ensure sufficient authority ,if the ,secretary finds under subparagraph 7,a7 that #ej percent of the aggregate guarantee authority under paragraph 7#a7 has been committed1 the ,secretary may-- 7i7 provide that a unit of general local government that receives a grant under section #baa may not receive more than #ce1jjj1jjj in guarantees under this section2 or 7ii7 submit to ,congress a request for the enactment of legislation increasing the amount of the aggregate guarantee authority4 7i7 ,purchase of guaranteed obligations by federal financing bank ,the ,federal ,financing ,bank may not purchase a note or other obligation guaranteed under this section4 7j7 ,imposition of fee or charge ,the ,secretary shall collect fees from borrowers to result in a credit subsidy cost of zero for guaranteeing notes or other obligations under this section4 7k7 ,guarantee of obligations backed by loans 7#a7 ,authority ,the ,secretary may1 upon such terms and conditions as the ,secretary considers appropriate1 guarantee the timely payment of the principal of and interest on such trust certificates or other obligations as may be-- 7,a7 offered by the ,secretary or by any other offeror approved for purposes of this subsection by the ,secretary2 and 7,b7 based on and backed by a trust or pool composed of notes or other obligations guaranteed or eligible for guarantee by the ,secretary under this section4 7#b7 ,full faith and credit ,to the same extent as provided in subsection 7g71 the full faith and credit of the ,united ,states is pledged to the payment of all amounts that may be required to be paid under any guarantee made by the ,secretary under this subsection4 7#c7 ,subrogation ,if the ,secretary pays a claim under a guarantee made under this section1 the ,secretary shall be subrogated for all the rights of the holder of the guaranteed certificate or obligation with respect to the certificate or obligation4 7#d7 ,effect of other laws ,no ,state or local law1 and no ,federal law1 shall preclude or limit the exercise by the ,secretary of-- 7,a7 the power to contract with respect to public offerings and other sales of notes1 trust certificates1 and other obligations guaranteed under this section upon such terms and conditions as the ,secretary determines appropriate2 7,b7 the right to enforce any contract described in subparagraph 7,a7 by any means determined appropriate by the ,secretary2 or 7,c7 any ownership rights of the ,secretary1 as applicable1 in notes1 certificates1 or other obligations guaranteed under this section1 or constituting the trust or pool against which trust certificates1 or other obligations guaranteed under this section1 are offered4 4 ,,iii ,reforms relating to community housing development organization and nonprofit participation #cja4 ,modification of rules related to community housing development organizations 7a7 ,definitions of community housing development organization and community land trust 7#a7 ,in general ,section #ajd of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgjd7 is amended-- 7,a7 in paragraph 7#f77;,b7-- 7i7 by striking significant2 and 7ii7 by striking and otherwise and inserting or as otherwise determined acceptable by the ,secretary2 and 7,b7 by adding at the end the following3 7#bf7 ,the term community land trust means a nonprofit entity or a ,state or local government or instrumentality thereof that-- 7,a7 is not sponsored by a for-profit organization2 7,b7 has as a primary purpose the provision and maintenance of housing that provides long-term affordability for low- and moderate-income persons2 7,c7 provides housing described in subparagraph 7,b7 using a ground lease1 deed covenant1 or other similar legally enforceable measure1 as determined by the ,secretary1 that-- 7i7 keeps the housing affordable to low- and moderate-income persons for not less than #cj years2 and 7ii7 enables low- and moderate-income persons to purchase the housing for homeownership2 and 7,d7 maintains preemptive purchase options to purchase the property so the housing remains affordable to low-and moderate-income persons4 4 7#b7 ,elimination of existing definition of community land trust ,section #bcc of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abggc7 is amended by striking subsection 7f74 7b7 ,set-,aside for community housing development organizations ,section #bca of the ,cranston-,gonzalez national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgga7 is amended-- 7#a7 in subsection 7a71 by striking to be developed1 sponsored1 or owned by community housing development organizations and inserting when a community housing development organization materially participates in the ownership or development of such housing1 as determined by the ,secretary2 7#b7 by striking subsection 7b7 and inserting the following3 7b7 ,recapture and reuse ,if any funds reserved under subsection 7a7 remain uninvested for a period of #bd months1 then the ,secretary shall make such funds available to the participating jurisdiction for any eligible activities under this title without regard to whether a community housing development organization materially participates in the use of the funds4 2 and 7#c7 by striking subsection 7c74 ,,iv ,technical corrections #dja4 ,technical corrections ,the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgja et seq47 is amended-- 7#a7 in section #ajd 7#db ,u4,s4,c4 #abgjd7-- 7,a7 by redesignating paragraph 7#bc7 7relating to the definition of the term to demonstrate to the ,secretary7 as paragraph 7#bb72 and 7,b7 by redesignating paragraph 7#bd7 7relating to the definition of the term insular area1 as added by section #b7b7 of ,public ,law #ajb-bcj7 as paragraph 7#bc72 7#b7 in section #aje7;b7 7#db ,u4,s4,c4 #abgje7;b77-- 7,a7 in paragraph 7#g71 by striking ,stewart ,b4 ,mc,kinney ,homeless ,assistance ,act and inserting ,mc,kinney-,vento ,homeless ,assistance ,act2 and 7,b7 in paragraph 7#h71 by striking subparagraphs and inserting paragraphs2 7#c7 in section #ajf 7#db ,u4,s4,c4 #abgjf71 by striking ,stewart ,b4 ,mc,kinney ,homeless ,assistance ,act and inserting ,mc,kinney-,vento ,homeless ,assistance ,act2 7#d7 in section #ajh7;a77#a7 7#db ,u4,s4,c4 #abgjh7;a77#a771 by striking section #aje7;b77#ae7 and inserting section #aje7;b77#ah72 7#e7 in section #bab 7#db ,u4,s4,c4 #abgdb7-- 7,a7 in subsection 7a7-- 7i7 in paragraph 7#c77;,a77ii71 by inserting ,united ,states before ,housing ,act2 and 7ii7 by redesignating paragraph 7#e7 as paragraph 7#d72 7,b7 in subsection 7d77#e71 by inserting ,united ,states before ,housing ,act2 and 7,c7 in subsection 7e77#a7-- 7i7 by striking section #bba7;d77#c77;ii7 and inserting section #bba7;d77#d72 and 7ii7 by striking not to exceed #adj percent and inserting as determined by the ,secretary2 7#f7 in section #bae7;a77#f77;,b7 7#db ,u4,s4,c4 #bj #abgde7;a77#f77;,b771 by striking grand children and inserting grandchildren2 7#g7 in section #bag 7#db ,u4,s4,c4 #abgdg7-- 7,a7 in subsection 7a7-- 7i7 in paragraph 7#a71 by striking 7#c7 and inserting 7#b72 7ii7 by striking paragraph 7#c71 as added by section #baa7;a77#b77;,d7 of the ,housing and ,community ,development ,act of #aiib 7,public ,law #ajb-eej2 #ajf ,stat4 #cgef72 and 7iii7 by redesignating the remaining paragraph 7#c71 as added by the matter under the heading ,home investment partnerships program under the heading ,housing programs in title ,,ii of the ,departments of ,veterans ,affairs and ,housing and ,urban ,development1 and ,independent ,agencies ,appropriations ,act1 #aiic 7,public ,law #ajb-chi2 #ajf ,stat4 #aeha71 as paragraph 7#b72 and 7,b7 in subsection 7b7-- 7i7 in paragraph 7#a7-- 7,i7 in the first sentence of subparagraph 7,a7-- 7aa7 by striking in regulation and inserting 1 by regulation12 and 7bb7 by striking eligible jurisdiction and inserting eligible jurisdictions2 and 7,,ii7 in subparagraph 7,f7-- 7aa7 in the first sentence-- 7,,aa7 in clause 7i71 by striking ,subcommittee on ,housing and ,urban ,affairs and inserting ,subcommittee on ,housing1 ,transportation1 and ,community ,development2 and 7,,bb7 in clause 7ii71 by striking ,subcommittee on ,housing and ,community ,development of the ,committee on ,banking1 ,finance and ,urban ,affairs and inserting ,subcommittee on ,housing and ,insurance of the ,committee on ,financial ,services2 and 7bb7 in the second sentence1 by striking the ,committee on ,banking1 ,finance and ,urban ,affairs of the ,house of ,representatives and inserting the ,committee on ,financial ,services of the ,house of ,representatives2 7ii7 in paragraph 7#b77;,b71 by striking #ejj1jjj each place that term appears and inserting #gej1jjj2 7iii7 in paragraph 7#c7-- 7,i7 by striking #ejj1jjj each place that term appears and inserting #gej1jjj2 and 7,,ii7 by striking 1 except as provided in paragraph 7#d72 and 7iv7 by striking paragraph 7#d72 7#h7 in section #bbj7;c7 7#db ,u4,s4,c4 #abgej7;c77-- 7,a7 in paragraph 7#c71 by striking ,secretary and all that follows and inserting ,secretary22 7,b7 in paragraph 7#d71 by striking under this title and all that follows and inserting under this title22 and 7,c7 by redesignating paragraphs 7#f71 7#g71 and 7#h7 as paragraphs 7#e71 7#f71 and 7#g71 respectively2 7#i7 in section #bbe7;d77#d77;,b7 7#db ,u4,s4,c4 #abgee7;d77#d77;,b771 by striking for the first place that term appears2 and 7#aj7 in section #bhc 7#db ,u4,s4,c4 #abhcc7-- 7,a7 in subsection 7a71 by striking ,banking1 ,finance and ,urban ,affairs and inserting ,financial ,services2 and 7,b7 in subsection 7b71 by striking ,general ,accounting ,office each place that term appears and inserting ,government ,accountability ,office4