I 

113TH CONGRESS 

1ST SESSION H. R. 1550 

To allow use of assistance under the Hardest Hit Fund program under 

the Troubled Assets Relief Program of the Department of the Treasury 

for demolition of foreclosed-upon properties and related expenses. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 15, 2013 

Mr. KILDEE (for himself and Mr. TURNER) introduced the following bill; 

which was referred to the Committee on Financial Services 

A BILL 

To allow use of assistance under the Hardest Hit Fund 

program under the Troubled Assets Relief Program of 

the Department of the Treasury for demolition of foreclosed-upon properties and related expenses. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Revitalize America Act 

5 of 2013’’. 


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1 SEC. 2. USE OF HARDEST HIT FUND AMOUNTS FOR DEMO2 LITION AND RELATED ACTIVITIES. 

3 (a) AUTHORITY.—Notwithstanding any provision of 

4 title I of the Emergency Economic Stabilization Act of 

5 2008 (12 U.S.C. 5211 et seq.), any regulation, guidance, 

6 order, or other directive of the Secretary of the Treasury, 

7 or any agreement (or amendment thereto) entered into 

8 under the Hardest Hit Fund program of the Secretary 

9 under such title I, of any amounts of assistance that have 

10 been, or are, allocated for or provided to a State or State 

11 agency through the Hardest Hit Fund program, up to 25 

12 percent may be used for demolition of foreclosed-upon 

13 properties and related expenses, subject to the limitations 

14 in this section. 

15 (b) SUBGRANTEES; OWNERSHIP OF PROPERTY.—As16 sistance amounts referred to in subsection (a) may be used 

17 for the activities authorized under subsection (a) only— 

18 (1) pursuant to a grant of such assistance 

19 amounts to a public organization that shall admin20 ister such activities; and 

21 (2) if the foreclosed-upon properties to be de22 molished using such assistance are owned at the 

23 time of such demolition by the public organization 

24 that received the grant of assistance amounts re25 ferred to in paragraph (1). 


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1 (c) DEFINITIONS.—For purposes of this section, the 

2 following definitions shall apply: 

3 (1) FORECLOSED-UPON.—The term ‘‘fore4 closed-upon’’ means, with respect to a property, that 

5 one or more of the following conditions applies: 

6 (A) The property’s current delinquency 

7 status is at least 60 days delinquent under the 

8 Mortgage Bankers of America delinquency cal9 culation and the owner has been notified of this 

10 delinquency. 

11 (B) The property owner is 90 days or more 

12 delinquent on tax payments. 

13 (C) Under State, local, or tribal law, fore14 closure proceedings have been initiated or com15 pleted. 

16 (D) Foreclosure proceedings have been 

17 completed and title has been transferred to an 

18 intermediary aggregator or servicer. 

19 (2) PUBLIC ORGANIZATION.—The term ‘‘public 

20 organization’’ means, with respect to a State for 

21 which assistance under the Hardest Hit Fund pro22 gram is made available, a public entity separate 

23 from the government of such State, including a pub24 lic corporation, public land bank, or similar entity 

25 formed under State law. Such term does not include 


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1 an agency of the State government. Notwithstanding 

2 any provision of title I of the Emergency Economic 

3 Stabilization Act of 2008 (12 U.S.C. 5211 et seq.), 

4 such term public includes entities that are not finan5 cial institutions within the meaning given such term 

6 for purposes of such title I. 

7 (3) RELATED EXPENSES.—The term ‘‘related 

8 expenses’’ includes expenses of acquiring foreclosed9 upon properties to be demolished, but if such acqui10 sition costs for a property do not exceed fair market 

11 value of the property, environmental cleanup of dem12 olition sites, fencing and minor landscaping con13 nected to such demolition, maintenance, disposition, 

14 and for such other expenses as the Secretary may 

15 provide. 

16 (4) PROPERTY.—The term ‘‘property’’ includes 

17 residential and commercial properties, including sin18 gle-family and multifamily housing and industrial 

19 properties. 

Æ 


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