I 

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. 

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 ‘‘National Expansion 

5 of Working-families Housing Options Using Small Enter6 prises Act of 2013’’ or the ‘‘NEW HOUSE Act of 2013’’. 


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1 SEC. 2. SUPPORT FOR AFFORDABLE HOUSING PROJECTS. 

2 Section 3003(c) of the State Small Business Credit 

3 Initiative Act of 2010 (12 U.S.C. 5702(c)) is amended— 

4 (1) in paragraph (3)— 

5 (A) by redesignating subparagraphs (C) 

6 and (D) as subparagraphs (D) and (E), respec7 tively; and 

8 (B) by inserting after subparagraph (B) 

9 the following: 

10 ‘‘(C) to provide funds to small businesses 

11 to be used— 

12 ‘‘(i) to develop, acquire, construct, re13 habilitate, maintain, operate, or manage 

14 housing projects that provide housing that 

15 is affordable for low- or moderate-income 

16 households, as determined by the Sec17 retary, in consultation with the Secretary 

18 of Housing and Urban Development; 

19 ‘‘(ii) notwithstanding section 220 of 

20 the Cranston-Gonzalez National Affordable 

21 Housing Act (42 U.S.C. 12750) or any 

22 other provision of law, to cover any con23 tribution required under such section or 

24 any matching amount, contribution 

25 amount, or non-Federal share required in 

26 connection with any other Federal grant or 


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1 assistance program to provide housing that 

2 is affordable for low- or moderate-income 

3 households; or 

4 ‘‘(iii) for purchasing foreclosed prop5 erties and property being sold by a State 

6 or local government, but only for the use 

7 of such properties for the purposes speci8 fied in clause (i) of this subparagraph;’’; 

9 (2) in paragraph (6)— 

10 (A) in subparagraph (A), by striking 

11 ‘‘and’’ at the end; 

12 (B) in subparagraph (B), by striking the 

13 period and inserting ‘‘; and’’; and 

14 (C) by adding at the end the following: 

15 ‘‘(C) the term ‘small business’ has the 

16 meaning given the term ‘small business con17 cern’ under section 3(a) of the Small Business 

18 Act.’’; and 

19 (3) by adding at the end the following: 

20 ‘‘(7) USE OF FUNDS FOR AFFORDABLE HOUS21 ING PURPOSES.—With respect to a participating 

22 State, of amounts transferred under this section to 

23 the State that have not been obligated as of the date 

24 of the enactment of the Strengthening Economic DeVerDate Mar 15 2010 21:22 Aug 09, 2013 Jkt 029200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H3003.IH H3003

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1 velopment Through Affordable Housing Act of 2013, 

2 the State shall use, at a minimum, the lesser of— 

3 ‘‘(A) $2,500,000, and 

4 ‘‘(B) 10 percent of such unobligated 

5 amount, 

6 for the purposes described under paragraph 

7 (3)(C).’’. 

Æ 


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