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[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3003 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 3003

  To amend the State Small Business Credit Initiative Act of 2010 to 
allow participating States to provide program funds to small businesses 
                 for development of affordable housing.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             August 2, 2013

 Mrs. Beatty (for herself, Ms. Fudge, Mr. Enyart, Mr. Veasey, and Mr. 
   Kildee) introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL

 
  To amend the State Small Business Credit Initiative Act of 2010 to 
allow participating States to provide program funds to small businesses 
                 for development of affordable housing.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``National Expansion of Working-
families Housing Options Using Small Enterprises Act of 2013'' or the 
``NEW HOUSE Act of 2013''.

SEC. 2. SUPPORT FOR AFFORDABLE HOUSING PROJECTS.

    Section 3003(c) of the State Small Business Credit Initiative Act 
of 2010 (12 U.S.C. 5702(c)) is amended--
            (1) in paragraph (3)--
                    (A) by redesignating subparagraphs (C) and (D) as 
                subparagraphs (D) and (E), respectively; and
                    (B) by inserting after subparagraph (B) the 
                following:
                    ``(C) to provide funds to small businesses to be 
                used--
                            ``(i) to develop, acquire, construct, 
                        rehabilitate, maintain, operate, or manage 
                        housing projects that provide housing that is 
                        affordable for low- or moderate-income 
                        households, as determined by the Secretary, in 
                        consultation with the Secretary of Housing and 
                        Urban Development;
                            ``(ii) notwithstanding section 220 of the 
                        Cranston-Gonzalez National Affordable Housing 
                        Act (42 U.S.C. 12750) or any other provision of 
                        law, to cover any contribution required under 
                        such section or any matching amount, 
                        contribution amount, or non-Federal share 
                        required in connection with any other Federal 
                        grant or assistance program to provide housing 
                        that is affordable for low- or moderate-income 
                        households; or
                            ``(iii) for purchasing foreclosed 
                        properties and property being sold by a State 
                        or local government, but only for the use of 
                        such properties for the purposes specified in 
                        clause (i) of this subparagraph;'';
            (2) in paragraph (6)--
                    (A) in subparagraph (A), by striking ``and'' at the 
                end;
                    (B) in subparagraph (B), by striking the period and 
                inserting ``; and''; and
                    (C) by adding at the end the following:
                    ``(C) the term `small business' has the meaning 
                given the term `small business concern' under section 
                3(a) of the Small Business Act.''; and
            (3) by adding at the end the following:
            ``(7) Use of funds for affordable housing purposes.--With 
        respect to a participating State, of amounts transferred under 
        this section to the State that have not been obligated as of 
        the date of the enactment of the Strengthening Economic 
        Development Through Affordable Housing Act of 2013, the State 
        shall use, at a minimum, the lesser of--
                    ``(A) $2,500,000, and
                    ``(B) 10 percent of such unobligated amount,
        for the purposes described under paragraph (3)(C).''.
                                 <all>
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