I 

111TH CONGRESS 

1ST SESSION H. R. 4156 

To provide for certain improvements in the laws relating to housing for 

veterans, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

NOVEMBER 19, 2009 

Mr. SIRES introduced the following bill; which was referred to the Committee 

on Financial Services 

A BILL 

To provide for certain improvements in the laws relating 

to housing for veterans, and for other purposes. 

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 ‘‘Increasing Housing 

5 Opportunities for Veterans Act of 2009’’. 

6 SEC. 2. LOANS FOR DEVELOPMENT OF SUPPORTIVE HOUS7 ING FOR VETERAN FAMILIES. 

8 (a) PURPOSE.—The purposes of this section are— 


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1 (1) to expand the supply of permanent housing 

2 for veteran families, including low-, very low-, and 

3 extremely low-income veteran families; and 

4 (2) to provide supportive services through such 

5 housing to support the needs of such veteran fami6 lies. 

7 (b) AUTHORITY.— 

8 (1) IN GENERAL.—The Secretary of Housing 

9 and Urban Development shall, to the extent amounts 

10 are made available for assistance under this section 

11 and the Secretary receives approvable applications 

12 for such assistance, provide assistance to for-profit 

13 developers to expand the supply of supportive hous14 ing for veteran families. 

15 (2) NATURE OF ASSISTANCE.—The assistance 

16 provided under paragraph (1)— 

17 (A) shall be available for use to plan for 

18 and finance the acquisition, construction, recon19 struction, or moderate or substantial rehabilita20 tion of a structure or a portion of a structure 

21 to be used as supportive housing for veteran 

22 families in accordance with this section; and 

23 (B) may also cover the cost of real prop24 erty acquisition, site improvement, conversion, 

25 demolition, relocation, and other expenses that 


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1 the Secretary determines are necessary to ex2 pand the supply of supportive housing for vet3 eran families. 

4 (3) CONSULTATION.—In carrying out this sec5 tion, the Secretary shall consult with the Secretary 

6 of Veterans Affairs. 

7 (c) FORMS OF ASSISTANCE.—Assistance under this 

8 section shall be made available in the following forms: 

9 (1) ZERO-INTEREST LOANS.—Assistance may 

10 be provided as a loan under this paragraph for the 

11 project, subject to the following terms: 

12 (A) ZERO INTEREST.—The loan shall not 

13 bear interest. 

14 (B) REPAYMENT.—The loan shall not re15 quire the borrower to make payments of prin16 cipal during the period that the housing re17 mains available for occupancy by veteran fami18 lies in accordance with this section. If the hous19 ing ceases to be available for occupancy in ac20 cordance with this section, repayment of the 

21 loan principal amount shall be made in accord22 ance with subsection (k)(9). 

23 (C) AMOUNT.—The loan shall be in an 

24 amount calculated in accordance with the devel25 opment cost limitation under subsection (i). 


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1 (2) PROJECT RENTAL ASSISTANCE.—Assistance 

2 may be provided as project rental assistance, under 

3 an annual contract that— 

4 (A) obligates the Secretary to make 

5 monthly payments to cover any part of the 

6 costs attributed to dwelling units occupied (or, 

7 as approved by the Secretary, held for occu8 pancy) by low-income veteran families that is 

9 not met from rent contributions of tenants of 

10 such units; 

11 (B) provides for the project not more than 

12 the sum of the initial annual project rentals for 

13 all units so occupied and any initial utility al14 lowances for such units, as approved by the 

15 Secretary; 

16 (C) has an initial term of 240 months and 

17 provides that the Secretary shall, subject only 

18 to the availability of amounts provided in ap19 propriation Acts, extend the contract for a term 

20 of not less than 60 months; 

21 (D) provides that any contract amounts 

22 not used by a project in any year shall remain 

23 available to the project until the expiration of 

24 the contract; 


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1 (E) provides that the Secretary shall ad2 just the annual contract amount to provide for 

3 reasonable project costs, and any increases, in4 cluding adequate reserves, supportive services, 

5 and service coordinators, except that any con6 tract amounts not used by a project during a 

7 contract term shall not be available for such ad8 justments upon renewal; and 

9 (F) provides that in the event of emer10 gency situations that are outside the control of 

11 the owner, the Secretary shall increase the an12 nual contract amount, subject to reasonable re13 view and limitations as the Secretary shall pro14 vide. 

15 In order to facilitate the orderly extension of expir16 ing contracts, the Secretary may make commitments 

17 to extend expiring contracts during the year prior to 

18 the date of expiration. 

19 (d) USE LIMITATIONS.— 

20 (1) USE FOR VETERANS.—For not less than 40 

21 years, not less than 75 percent of the dwelling units 

22 in housing assisted under this section shall be made 

23 available for occupancy only by veteran families. 

24 (2) USE FOR LOW-INCOME VETERANS.—Of the 

25 dwelling units in housing assisted under this section 


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1 that are subject to the use limitation under para2 graph (1), a number may be made available, for 

3 such periods as may be appropriate, for occupancy 

4 only by low-, very low-, or extremely low-income vet5 eran families, in accordance with the need for hous6 ing for veteran families having such incomes as lat7 est information in the comprehensive housing afford8 ability strategy for the jurisdiction in which the 

9 housing is located, as required under section 

10 105(b)(1) of the Cranston-Gonzalez National Afford11 able Housing Act (42 U.S.C. 12705(b)(1)). 

12 (e) TENANT RENT CONTRIBUTION.—A low-income 

13 veteran family shall pay as rent for a dwelling unit in 

14 housing assisted under this section the highest of the fol15 lowing amounts, rounded to the nearest dollar: 

16 (1) Thirty percent of the veteran family’s ad17 justed monthly income. 

18 (2) Ten percent of the veteran family’’ monthly 

19 income. 

20 (3) If the veteran family is receiving payments 

21 for welfare assistance from a public agency and a 

22 part of such payments, adjusted in accordance with 

23 the veteran family’s actual housing costs, is specifi24 cally designated by such agency to meet the veteran 


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1 family’s housing costs, the portion of such payments 

2 which is so designated. 

3 (f) APPLICATIONS.— 

4 (1) IN GENERAL.—Amounts made available 

5 under this section shall be allocated by the Secretary 

6 among approvable applications submitted by for7 profit developers. 

8 (2) CONTENT OF APPLICATION.— 

9 (A) IN GENERAL.—Applications for assist10 ance under this section shall be submitted by an 

11 applicant in such form and in accordance with 

12 such procedures as the Secretary shall estab13 lish. 

14 (B) REQUIRED CONTENT.—Applications 

15 for assistance under this section shall contain— 

16 (i) a description of the proposed hous17 ing; 

18 (ii) a description of the assistance the 

19 applicant seeks under this section; 

20 (iii) a description of— 

21 (I) the supportive services to be 

22 provided to the persons occupying 

23 such housing in accordance with sub24 section (h); 


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1 (II) the manner in which such 

2 services will be provided to such per3 sons, including identification of the 

4 providers and the location of such 

5 services, and of any transportation 

6 necessary for residents of the housing 

7 to obtain such services, and, in the 

8 case of frail elderly persons (as such 

9 term is defined in section 202 of the 

10 Housing Act of 1959 (12 U.S.C. 

11 1701q)), evidence of such residential 

12 supervision as the Secretary deter13 mines is necessary to facilitate the 

14 adequate provision of such services; 

15 and 

16 (III) the public or private sources 

17 of assistance that can reasonably be 

18 expected to fund or provide such serv19 ices; 

20 (iv) if the proposed housing reserves 

21 units for low-, very low-, or extremely low22 income veterans pursuant to subsection 

23 (d)(2), a description of the proposed in24 come mix of units to be reserved for occu25 pancy in accordance with such subsection; 


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1 (v) a certification from the public offi2 cial responsible for submitting a housing 

3 strategy for the jurisdiction to be served in 

4 accordance with section 105 of the Cran5 ston-Gonzalez National Affordable Housing 

6 Act (42 U.S.C. 12705) that the proposed 

7 project is consistent with the approved 

8 housing strategy; and 

9 (vi) such other information or certifi10 cations that the Secretary determines to be 

11 necessary or appropriate to achieve the 

12 purposes of this section. 

13 (3) REJECTION.—The Secretary shall not reject 

14 any application for assistance under this section on 

15 technical grounds without giving notice of that rejec16 tion and the basis therefore to the applicant. 

17 (g) SELECTION CRITERIA.—The Secretary shall es18 tablish selection criteria for assistance under this section, 

19 which shall include— 

20 (1) criteria based upon— 

21 (A) the ability of the applicant to develop 

22 and operate the proposed housing; 

23 (B) the extent to which the proposed hous24 ing meets a need for supportive housing for vet25 eran families in the area to be served and, if 


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1 the proposed housing reserves units for low-, 

2 very low-, or extremely low-income veterans 

3 pursuant to subsection (d)(2), for veteran fami4 lies in the area of the income levels proposed to 

5 be served pursuant to the income mix proposed 

6 under subsection (f)(2)(B)(iv); 

7 (C) the extent to which the proposed size 

8 and unit mix of the housing will enable the ap9 plicant to manage and operate the housing effi10 ciently and ensure that the provision of sup11 portive services in accordance with subsection 

12 (h) will be accomplished in an economical fash13 ion; 

14 (D) the extent to which the proposed de15 sign of the housing will meet the service-con16 nected disability needs of veteran families; 

17 (E) the extent to which the applicant has 

18 demonstrated that the supportive services iden19 tified pursuant to subsection (f)(2)(B)(iii) will 

20 be provided on a consistent, long-term basis; 

21 (F) the extent to which the proposed de22 sign of the housing will accommodate the provi23 sion of supportive services that are expected to 

24 be needed, either initially or over the useful life 


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1 of the housing, by the veterans the housing is 

2 intended to serve; 

3 (G) the extent to which the applicant has 

4 ensured that a service coordinator will be em5 ployed or otherwise retained for the housing, 

6 who has the managerial capacity and responsi7 bility for carrying out the actions described in 

8 clauses (i) and (ii) of subsection (h)(2)(A); and 

9 (H) such other factors as the Secretary de10 termines to be appropriate to ensure that funds 

11 made available under this section are used ef12 fectively; 

13 (2) preference in such selection for applications 

14 to the extent that the dwelling units in the proposed 

15 housing to be reserved for occupancy only by veteran 

16 families exceed the percentage of such units required 

17 under subsection (d)(1); and 

18 (3) criteria appropriate to consider the need for 

19 supportive housing for veteran families in nonmetro20 politan areas and by Indian tribes. 

21 (h) PROVISION OF SUPPORTIVE SERVICES TO VET22 ERAN FAMILIES.— 

23 (1) IN GENERAL.—Owners of housing assisted 

24 under this section shall ensure that veterans and 

25 veteran families residing in any housing assisted 


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1 under this section are provided a range of services 

2 tailored to their needs. The Secretary of Housing 

3 and Urban Development shall coordinate with the 

4 Secretary of Veterans Affairs and owners of such 

5 housing to facilitate the provision of such services. 

6 Such services may be provided at the site of such 

7 housing or off-site, and may include services for— 

8 (A) outreach; 

9 (B) health (including counseling, mental 

10 health, substance abuse, post-traumatic stress 

11 disorder, and traumatic brain injury) diagnosis 

12 and treatment; 

13 (C) habilitation and rehabilitation; 

14 (D) case management; 

15 (E) daily living; 

16 (F) personal financial planning; 

17 (G) transportation; 

18 (H) vocation; 

19 (I) employment and training; 

20 (J) education; 

21 (K) assistance in obtaining veterans bene22 fits and public benefits; 

23 (L) assistance in obtaining income support; 

24 (M) assistance in obtaining health insur25 ance; 


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1 (N) fiduciary and representative payee; 

2 (O) legal aid; 

3 (P) child care; 

4 (Q) housing counseling; 

5 (R) service coordination; and 

6 (S) other services necessary for maintain7 ing independent living. 

8 (2) LOCAL COORDINATION OF SERVICES.— 

9 (A) IN GENERAL.—The Secretary of Hous10 ing and Urban Development shall coordinate 

11 with the Secretary of the Department of Vet12 erans Affairs to ensure that owners of housing 

13 assisted under this section have the managerial 

14 capacity to— 

15 (i) assess on an ongoing basis the 

16 service needs of residents; 

17 (ii) coordinate the provision of sup18 portive services and tailor such services to 

19 the individual needs of residents; and 

20 (iii) seek on a continuous basis new 

21 sources of assistance to ensure the long22 term provision of supportive services. 

23 (B) CLASSIFICATION OF COSTS.—Any cost 

24 associated with this subsection relating to the 


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1 coordination of services shall be an eligible cost 

2 under subsections (c)(2). 

3 (i) DEVELOPMENT COST LIMITATIONS.— 

4 (1) IN GENERAL.—The Secretary shall periodi5 cally establish reasonable development cost limita6 tions by market area for various types and sizes of 

7 supportive housing for low-income veteran families 

8 by publishing a notice of the cost limitations in the 

9 Federal Register. 

10 (2) CONSIDERATIONS.—The cost limitations es11 tablished under paragraph (1) shall reflect— 

12 (A) the cost of construction, reconstruc13 tion, or moderate or substantial rehabilitation 

14 of supportive housing for low-income veteran 

15 families that meets applicable State and local 

16 housing and building codes; 

17 (B) the cost of movables necessary to the 

18 basic operation of the housing, as determined 

19 by the Secretary; 

20 (C) the cost of special design features nec21 essary to make the housing accessible to low-in22 come veteran families; 

23 (D) the cost of community space necessary 

24 to accommodate the provision of supportive 

25 services to veteran families; 


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1 (E) if the housing is newly constructed, the 

2 cost of meeting the energy efficiency standards 

3 promulgated by the Secretary in accordance 

4 with section 109 of the Cranston-Gonzalez Na5 tional Affordable Housing Act (42 U.S.C. 

6 12709); and 

7 (F) the cost of land, including necessary 

8 site improvement. 

9 (3) USE OF DATA.—In establishing development 

10 cost limitations for a given market area under this 

11 subsection, the Secretary shall use data that reflect 

12 currently prevailing costs of construction, recon13 struction, or moderate or substantial rehabilitation, 

14 and land acquisition in the area. 

15 (4) COMMUNITY SPACE.—For purposes of para16 graph (2), a community space shall include space for 

17 cafeterias or dining halls, community rooms or build18 ings, workshops, child care, adult day health facili19 ties or other outpatient health facilities, or other es20 sential service facilities. 

21 (5) COMMERCIAL FACILITIES.—Neither this 

22 section nor any other provision of law may be con23 strued as prohibiting or preventing the location and 

24 operation, in a project assisted under this section, of 

25 commercial facilities for the benefit of residents of 


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1 the project and the community in which the project 

2 is located, except that assistance made available 

3 under this section may not be used to subsidize any 

4 such commercial facility. 

5 (6) ACQUISITION.—In the case of existing hous6 ing and related facilities to be acquired, the cost lim7 itations shall include— 

8 (A) the cost of acquiring such housing; 

9 (B) the cost of rehabilitation, alteration, 

10 conversion, or improvement, including the mod11 erate or substantial rehabilitation thereof; and 

12 (C) the cost of the land on which the hous13 ing and related facilities are located. 

14 (7) ANNUAL ADJUSTMENTS.—The Secretary 

15 shall adjust the cost limitation not less than annu16 ally to reflect changes in the general level of con17 struction, reconstruction, and moderate and substan18 tial rehabilitation costs. 

19 (8) INCENTIVES FOR SAVINGS.— 

20 (A) SPECIAL HOUSING ACCOUNT.— 

21 (i) IN GENERAL.—The Secretary shall 

22 use the development cost limitations estab23 lished under paragraph (1) or (6) to cal24 culate the amount of financing to be made 

25 available to individual owners. 


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1 (ii) ACTUAL DEVELOPMENTAL COSTS

2 LESS THAN FINANCING.—Owners who 

3 incur actual development costs that are 

4 less than the amount of financing shall be 

5 entitled to retain 50 percent of the savings 

6 in a special housing account. 

7 (iii) BONUS FOR ENERGY EFFI8 CIENCY.—The percentage established 

9 under clause (ii) shall be increased to 75 

10 percent for owners which add energy effi11 ciency features which— 

12 (I) exceed the energy efficiency 

13 standards promulgated by the Sec14 retary in accordance with section 109 

15 of the Cranston-Gonzalez National Af16 fordable Housing Act (42 U.S.C. 

17 12709); 

18 (II) substantially reduce the life19 cycle cost of the housing; and 

20 (III) reduce gross rent require21 ments. 

22 (B) USES.—The special housing account 

23 established under subparagraph (A) may be 

24 used— 


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1 (i) to provide services to residents of 

2 the housing or funds set aside for replace3 ment reserves; or 

4 (ii) for such other purposes as deter5 mined by the Secretary. 

6 (9) DESIGN FLEXIBILITY.—The Secretary shall, 

7 to the extent practicable, give owners the flexibility 

8 to design housing appropriate to their location and 

9 proposed resident population within broadly defined 

10 parameters. 

11 (10) USE OF FUNDS FROM OTHER SOURCES.— 

12 An owner shall be permitted voluntarily to provide 

13 funds from sources other than this section for amen14 ities and other features of appropriate design and 

15 construction suitable for supportive housing under 

16 this section if the cost of such amenities is— 

17 (A) not financed with the advance; and 

18 (B) is not taken into account in deter19 mining the amount of Federal assistance or of 

20 the rent contribution of tenants. 

21 (j) TENANT SELECTION.— 

22 (1) IN GENERAL.—An owner shall adopt writ23 ten tenant selection procedures that are— 

24 (A) satisfactory to the Secretary and which 

25 are— 


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1 (i) consistent with the purpose of im2 proving housing opportunities for veteran 

3 families and any units reserved for use 

4 pursuant to subsection (d)(2); and 

5 (ii) reasonably related to program eli6 gibility and an applicant’s ability to per7 form the obligations of the lease; and 

8 (B) compliant with subtitle C of title VI of 

9 the Housing and Community Development Act 

10 of 1992 (42 U.S.C. 13601 et seq.) and any reg11 ulations issued under such subtitle. 

12 (2) NOTIFICATION OF REJECTION.—Owners 

13 shall promptly notify in writing any rejected appli14 cant of the grounds for any rejection. 

15 (3) INFORMATION REGARDING HOUSING.— 

16 (A) IN GENERAL.—The Secretary shall 

17 provide, to the Secretary of Veterans Affairs 

18 and the Secretary of Labor, information regard19 ing the availability of the housing assisted 

20 under this section. 

21 (B) SHARING OF INFORMATION WITH AD22 DITIONAL AGENCIES.—Within 30 days of re23 ceipt of the information, the Secretary of Vet24 erans Affairs and Secretary of Labor shall pro25 vide such information to agencies in the area of 


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1 the housing that receive assistance from the 

2 Department of Veterans Affairs and the De3 partment of Labor for providing medical care, 

4 housing, supportive services or employment and 

5 training services to homeless veterans. 

6 (k) MISCELLANEOUS PROVISIONS.— 

7 (1) TECHNICAL ASSISTANCE.—The Secretary 

8 shall make available appropriate technical assistance 

9 to ensure that prospective applicants are able to par10 ticipate more fully in the program carried out under 

11 this section. 

12 (2) CIVIL RIGHTS COMPLIANCE.—Each owner 

13 shall certify, to the satisfaction of the Secretary, 

14 that assistance made available under this section will 

15 be conducted and administered in conformity with 

16 title VI of the Civil Rights Act of 1964 (42 U.S.C. 

17 2000a et seq.), the Fair Housing Act (42 U.S.C. 

18 3601 et seq.), and other Federal, State, and local 

19 laws prohibiting discrimination and promoting equal 

20 opportunity. 

21 (3) OWNER DEPOSIT.— 

22 (A) IN GENERAL.—The Secretary shall re23 quire an owner of housing, assisted under this 

24 section, to deposit an amount not to exceed 

25 $25,000 in a special escrow account to ensure 


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1 the owner’s commitment to the housing. Such 

2 amount shall be used only to cover operating 

3 deficits during the first three years of oper4 ations and shall not be used to cover construc5 tion shortfalls or inadequate initial project rent6 al assistance amounts. 

7 (B) REDUCTION OF REQUIREMENT.—The 

8 Secretary may reduce or waive the owner de9 posit specified under subparagraph (A) for indi10 vidual applicants if the Secretary finds that 

11 such waiver or reduction is necessary to achieve 

12 the purposes of this section and the applicant 

13 demonstrates to the satisfaction of the Sec14 retary that it has the capacity to manage and 

15 maintain the housing in accordance with this 

16 section. 

17 (4) NOTICE OF APPEAL.— 

18 (A) IN GENERAL.—The Secretary shall no19 tify an owner not less than 30 days prior to 

20 canceling any reservation of assistance provided 

21 under this section. 

22 (B) APPEAL.— 

23 (i) FILING DEADLINE.—During the 

24 30-day period following the receipt of any 

25 notice required under subparagraph (A), 


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1 an owner may appeal the proposed can2 cellation. 

3 (ii) TIMING OF DECISION.—Any ap4 peal undertaken under clause (i), including 

5 review by the Secretary, shall be completed 

6 not later than 45 days after the appeal is 

7 filed. 

8 (5) LABOR.— 

9 (A) IN GENERAL.—The Secretary shall 

10 take such action as may be necessary to ensure 

11 that all laborers and mechanics employed by 

12 contractors and subcontractors in the construc13 tion of housing with 12 or more units assisted 

14 under this section shall be paid wages at rates 

15 not less than the rates prevailing in the locality 

16 involved for the corresponding classes of labor17 ers and mechanics employed on construction of 

18 a similar character, as determined by the Sec19 retary of Labor in accordance with subchapter 

20 IV of chapter 31 of title 40, United States 

21 Code. 

22 (B) EXEMPTION.—Subparagraph (A) shall 

23 not apply to any individual who— 

24 (i) performs services for which the in25 dividual volunteered; 


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1 (ii) does not receive compensation for 

2 such services or is paid expenses, reason3 able benefits, or a nominal fee for such 

4 services; and 

5 (iii) is not otherwise employed at any 

6 time in the construction work. 

7 (6) ACCESS TO RESIDUAL RECEIPTS.— 

8 (A) IN GENERAL.—The Secretary shall au9 thorize the owner of a housing project assisted 

10 under this section to use any residual receipts 

11 held for the project in excess of $500 per unit 

12 (or in excess of such other amount prescribed 

13 by the Secretary based on the needs of the 

14 project) for activities to retrofit and renovate 

15 the project as described under section 802(d)(3) 

16 of the Cranston-Gonzalez National Affordable 

17 Housing Act (42 U.S.C. 8011(d)(3)) or to pro18 vide supportive services to residents of the 

19 project. 

20 (B) REPORT.—Any owner that uses resid21 ual receipts under this paragraph shall submit 

22 to the Secretary a report, not less than annu23 ally, describing the uses of the residual receipts. 

24 (C) DETERMINATION OF AMOUNT.—In de25 termining the amount of project rental assistVerDate Nov 24 2008 02:41 Nov 21, 2009 Jkt 089200 PO 00000 Frm 00023 Fmt 6652 Sfmt 6201 E:\BILLS\H4156.IH H4156

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1 ance under subsection (c)(2) of this section to 

2 be provided to a project, the Secretary may 

3 take into consideration the residual receipts 

4 held for the project only if, and to the extent 

5 that, excess residual receipts are not used under 

6 this paragraph. 

7 (7) OCCUPANCY STANDARDS AND OBLIGA8 TIONS.—Each owner shall operate housing assisted 

9 under this section in compliance with subtitle C of 

10 title VI of the Housing and Community Develop11 ment Act of 1992 (42 U.S.C. 13601 et seq.) and 

12 any regulations issued under such subtitle. 

13 (8) USE OF PROJECT RESERVES.— 

14 (A) IN GENERAL.—Amounts for project re15 serves for a project assisted under this section 

16 may be used for costs, subject to reasonable 

17 limitations as the Secretary determines appro18 priate, for reducing the number of dwelling 

19 units in the project. 

20 (B) APPROVAL OF SECRETARY RE21 QUIRED.—Any use described in subparagraph 

22 (A) of amounts for project reserves for a 

23 project assisted under this section shall be sub24 ject to the approval of the Secretary to ensure 


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1 that such use is designed to retrofit units that 

2 are currently obsolete or unmarketable. 

3 (9) REPAYMENT OF ASSISTANCE AND PREVEN4 TION OF UNDUE BENEFITS.— 

5 (A) REPAYMENT.—If a recipient, or a 

6 project sponsor receiving funds from the recipi7 ent, receives assistance under subsection (b) as 

8 a loan pursuant to paragraph (1) of such sub9 section for the construction, acquisition, or re10 habilitation of supportive housing for veteran 

11 families and the project ceases to provide such 

12 permanent housing, the Secretary shall require 

13 the recipient, or such project sponsor, to repay 

14 the following percentage of such loan principal 

15 amount: 

16 (i) In the case of a project that ceases 

17 to be used for such supportive housing be18 fore the expiration of the 10-year period 

19 beginning upon commencement of the op20 eration of the project, 100 percent. 

21 (ii) In the case of a project that 

22 ceases to be used for such supportive hous23 ing on or after the expiration of the 10- 

24 year period beginning upon commencement 

25 of the operation of the project, but before 


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1 the expiration of the 20-year period begin2 ning upon such commencement, 75 per3 cent. 

4 (iii) In the case of a project that 

5 ceases to be used for such supportive hous6 ing on or after the expiration of the 20- 

7 year period beginning upon commencement 

8 of the operation of the project, but before 

9 the expiration of the 30-year period begin10 ning upon such commencement, 50 per11 cent. 

12 (iv) In the case of a project that 

13 ceases to be used for such supportive hous14 ing on or after the expiration of the 30- 

15 year period beginning upon commencement 

16 of the operation of the project, but before 

17 the expiration of the 40-year period begin18 ning upon such commencement, 25 per19 cent. 

20 (B) PREVENTION OF UNDUE BENEFITS.— 

21 Except as provided in paragraph (C), if any 

22 property is used for a project that receives as23 sistance under subsection (b) as a loan pursu24 ant to paragraph (2) of such subsection for the 

25 construction, acquisition or rehabilitation of 


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1 supportive housing for veteran families, and the 

2 sale or other disposition of the property occurs 

3 before the expiration of the 40-year period be4 ginning upon commencement of the operation of 

5 the project, the recipient (or the project sponsor 

6 receiving funds from the recipient) shall comply 

7 with such terms and conditions as the Secretary 

8 may prescribe to prevent the recipient (or such 

9 project sponsor) from unduly benefitting from 

10 such sale or disposition. 

11 (C) EXCEPTION.—A recipient, or a project 

12 sponsor receiving funds from the recipient, shall 

13 not be required to make repayments, and com14 ply with the terms and conditions, required 

15 under subparagraph (A) or (B) if— 

16 (i) the sale or disposition of the prop17 erty used for the project results in the use 

18 of the property for the direct benefit of 

19 veteran families; 

20 (ii) all of the proceeds of the sale or 

21 disposition are used to provide permanent 

22 housing for veteran families meeting the 

23 requirements of this section; or 

24 (iii) project-based rental assistance or 

25 operating cost assistance from any Federal 


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1 program or an equivalent State or local 

2 program is no longer made available and 

3 the project is meeting applicable perform4 ance standards, provided that the portion 

5 of the project that had benefitted from 

6 such assistance continues to meet the ten7 ant income and rent restrictions for low-in8 come units under section 42(g) of the In9 ternal Revenue Code of 1986. 

10 (10) CONTINUED ELIGIBILITY OF VETERAN

11 FAMILIES.—A veteran family residing in supportive 

12 housing assisted under this section may not be con13 sidered to lose its status as such a family for pur14 poses of eligibility for continued occupancy in such 

15 housing due to the death of any veteran member of 

16 the family, including the sole veteran member of the 

17 family. 

18 (l) DEFINITIONS.—In this section, the following defi19 nitions shall apply: 

20 (1) EXTREMELY LOW-INCOME VETERAN FAM21 ILY.—The term ‘‘extremely low-income veteran fam22 ily’’ means a veteran family whose income does not 

23 exceed 30 percent of the median income for the 

24 area, as determined by the Secretary with adjust25 ments for smaller and larger families, except that 


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1 the Secretary may establish an income ceiling higher 

2 or lower than 30 percent of the median for the area 

3 on the basis of the Secretary’s findings that such 

4 variations are necessary because of prevailing levels 

5 of construction costs or fair market rents (as deter6 mined under section 8 of the United States Housing 

7 Act of 1937 (42 U.S.C. 1437f)), or unusually high 

8 or low family incomes. 

9 (2) LOW-INCOME VETERAN FAMILY.—The term 

10 ‘‘low-income veteran family’’ means a veteran family 

11 whose income does not exceed 80 percent of the me12 dian income for the area, as determined by the Sec13 retary with adjustments for smaller and larger fami14 lies, except that the Secretary may establish an in15 come ceiling higher or lower than 80 percent of the 

16 median for the area on the basis of the Secretary’s 

17 findings that such variations are necessary because 

18 of prevailing levels of construction costs or fair mar19 ket rents (as determined under section 8 of the 

20 United States Housing Act of 1937 (42 U.S.C. 

21 1437f)), or unusually high or low family incomes. 

22 The term includes a very low- or extremely low-in23 come veteran family. 

24 (3) OWNER.—The term ‘‘owner’’ means a per25 son or entity that is for-profit developer that receives 


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1 assistance under this section to develop and operate 

2 supportive housing for veteran families. 

3 (4) SECRETARY.—The term ‘‘Secretary’’ means 

4 the Secretary of Housing and Urban Development, 

5 except where specifically provided otherwise. 

6 (5) STATE.—The term ‘‘State’’ includes the 

7 several States, the District of Columbia, the Com8 monwealth of Puerto Rico, and the possessions of 

9 the United States. 

10 (6) SUPPORTIVE HOUSING FOR VETERAN FAMI11 LIES.—The term ‘‘supportive housing for veteran 

12 families’’ means housing that is designed to accom13 modate the provision of supportive services that are 

14 expected to be needed, either initially or over the 

15 useful life of the housing, by the veteran families 

16 that the housing is intended to serve. 

17 (7) VETERAN.—The term ‘‘veteran’’ has the 

18 meaning given the term in section 101 of title 38, 

19 United States Code. 

20 (8) VETERAN FAMILY.—The term ‘‘veteran 

21 family’’ includes a veteran who is a single person, a 

22 family (including families with children) whose head 

23 of household (or whose spouse) is a veteran, and one 

24 or more veterans living together with 1 or more per25 sons. 


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1 (9) VERY LOW-INCOME VETERAN FAMILY.—The 

2 term ‘‘very low-income veteran family’’ means a vet3 eran family whose income does not exceed 50 per4 cent of the median income for the area, as deter5 mined by the Secretary with adjustments for smaller 

6 and larger families, except that the Secretary may 

7 establish an income ceiling higher or lower than 50 

8 percent of the median for the area on the basis of 

9 the Secretary’s findings that such variations are nec10 essary because of prevailing levels of construction 

11 costs or fair market rents (as determined under sec12 tion 8 of the United States Housing Act of 1937 (42 

13 U.S.C. 1437f)), or unusually high or low family in14 comes. The term includes an extremely low-income 

15 veteran family. 

16 (m) FUNDING.— 

17 (1) USE OF TARP FUNDS.—Using the authority 

18 available under sections 101(a) and 115(a) of divi19 sion A of the Emergency Economic Stabilization Act 

20 of 2008 (12 U.S.C. 5211(a), 5225(a)), the Secretary 

21 of the Treasury shall transfer to the Secretary of 

22 Housing and Urban Development $2,425,000,000, 

23 and the Secretary of Housing and Urban Develop24 ment shall use such amount only for assistance for 


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1 supportive housing for veteran families under this 

2 section, as follows: 

3 (A) AVAILABILITY FOR OBLIGATION.—Of 

4 such amount, $485,000,000 shall be available 

5 for such assistance in each of fiscal years 2010, 

6 2011, 2012, 2013, and 2014. 

7 (B) USE FOR ZERO-INTEREST LOANS AND

8 PROJECT RENTAL ASSISTANCE.—Of the amount 

9 made available under subparagraph (A) in each 

10 of the fiscal years referred to in such subpara11 graph— 

12 (i) $375,000,000 shall be available for 

13 zero-interest loans under subsection (c)(1); 

14 and 

15 (ii) $110,000,000 shall be available 

16 for project rental assistance under sub17 section (c)(2). 

18 (2) REDUCTION OF TARP AUTHORIZATION

19 LIMIT TO OFFSET COSTS.—Paragraph (3) of section 

20 115(a) of the Emergency Economic Stabilization Act 

21 of 2008 (12 U.S.C. 5225) is amended by inserting 

22 ‘‘as such amount is reduced by $2,425,000,000’’ 

23 after ‘‘$700,000,000,000,’’. 


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1 SEC. 3. COMPREHENSIVE HOUSING AFFORDABILITY 

2 STRATEGIES. 

3 (a) IN GENERAL.—Section 105 of the Cranston-Gon4 zalez National Affordable Housing Act (42 U.S.C. 12705) 

5 is amended— 

6 (1) in subsection (b)(1), by inserting ‘‘veterans 

7 (as such term is defined in section 101 of title 38, 

8 United States Code) of such varying incomes,’’ after 

9 ‘‘acquired immunodeficiency syndrome,’’; 

10 (2) in subsection (b)(20), by striking ‘‘and serv11 ice’’ and inserting ‘‘veterans service, and other serv12 ice’’; and 

13 (3) in subsection (e)(1), by inserting ‘‘veterans 

14 (as such term is defined in section 101 of title 38, 

15 United States Code),’’ after ‘‘homeless persons,’’. 

16 (b) CONSOLIDATED PLANS.—The Secretary of Hous17 ing and Urban Development shall revise the regulations 

18 relating to submission of consolidated plans (part 91 of 

19 title 24, Code of Federal Regulations) in accordance with 

20 the amendments made by subsection (a) of this section 

21 to require inclusion of appropriate information relating to 

22 veterans and veterans service agencies in all such plans. 


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1 SEC. 4. COMPTROLLER GENERAL STUDY ON THE AVAIL2 ABILITY OF CREDIT FOR VETERANS OF OPER3 ATION IRAQI FREEDOM AND OPERATION EN4 DURING FREEDOM. 

5 (a) STUDY REQUIRED.—The Comptroller General 

6 shall carry out a study on the availability of credit for 

7 veterans of Operation Iraqi Freedom and Operation En8 during Freedom. As part of the study, the Comptroller 

9 General shall determine whether the home loan guarantee 

10 program administered by the Secretary is helpful to such 

11 veterans. 

12 (b) REPORT TO CONGRESS.—Not later than the expi13 ration of the 180-day period beginning on the date of the 

14 enactment of this Act, the Comptroller General shall sub15 mit to Congress a report on the study required under sub16 section (a). 

17 SEC. 5. INACTIVE RESERVISTS FORECLOSURE PREVEN18 TION. 

19 (a) MORTGAGE ASSISTANCE PROGRAM.— 

20 (1) IN GENERAL.—The Secretary of Housing 

21 and Urban Development shall, to the extent amounts 

22 are made available for mortgage assistance under 

23 this section, carry out a program under this section 

24 to provide mortgage assistance through the provision 

25 of grants and loans for direct mortgage payments on 

26 behalf of eligible households. 


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1 (2) ELIGIBLE MORTGAGES.—Mortgage assist2 ance under this section may be provided only with 

3 respect to a mortgage that meets all of the following 

4 requirements: 

5 (A) MORTGAGOR REQUIREMENTS.—The 

6 mortgagor under the mortgage— 

7 (i) is a member of an eligible house8 hold that resides in the property that is 

9 subject to the mortgage; and 

10 (ii) has not, during the 24-month pe11 riod ending upon the date that the mort12 gagor submits an application for assistance 

13 under this section, been more than 60 days 

14 in arrears under any mortgage for residen15 tial property. 

16 (B) DWELLING REQUIREMENTS.—The 

17 property that is subject to the mortgage is— 

18 (i) designed principally as a residen19 tial property; and 

20 (ii) the primary place of residence of 

21 the mortgagor and the mortgagor’s house22 hold. 

23 (b) ASSISTANCE PAYMENTS.— 

24 (1) MONTHLY DIRECT PAYMENT.—The Sec25 retary shall design and implement the program 


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1 under this section in a manner that provides that 

2 any amounts paid by the Secretary for mortgage as3 sistance with respect to an eligible mortgage are 

4 paid on a monthly basis directly to the mortgagee or 

5 other servicer of the mortgage. 

6 (2) PERIOD OF ASSISTANCE.— 

7 (A) IN GENERAL.—Payment under the 

8 program under this section with respect to an 

9 eligible mortgage may be made only for sched10 uled payments due under the terms of the 

11 mortgage (as in effect pursuant to any applica12 ble provisions of law) during the period that a 

13 member of the eligible household who is an eli14 gible member of the Armed Forces is serving on 

15 active duty for a period of more than 30 days 

16 in the Armed Forces. 

17 (B) EXTENDED DEPLOYMENTS.—The Sec18 retary shall ensure that in determining the 

19 amount of assistance to be provided with re20 spect to an eligible mortgage and the period for 

21 which such assistance will be provided, suffi22 cient amounts for such assistance shall be re23 served under the program under this section to 

24 provide for unpredictability and extensions in 


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1 the period of active duty of eligible members of 

2 the Armed Forces. 

3 (3) DETERMINATION OF AMOUNT OF ASSIST4 ANCE.—Subject to paragraph (4), the Secretary 

5 shall determine the amount of assistance to be pro6 vided with respect to an eligible mortgage based 

7 upon criteria established by the Secretary, by regula8 tion. 

9 (4) LIMITATIONS ON AMOUNT OF ASSIST10 ANCE.—The amount of assistance provided under 

11 the program under this section with respect to any 

12 eligible mortgage may not exceed the following 

13 amounts: 

14 (A) MONTHLY AMOUNT.—With respect to 

15 the assistance payment for any single month, 

16 the amount due to be paid for such month 

17 under the terms of the mortgage (as in effect 

18 pursuant to any applicable provisions of law) 

19 for principal, interest, mortgage insurance for 

20 the mortgage, and any scheduled deposit in an 

21 escrow account for the purpose of ensuring pay22 ment of taxes, insurance, assessments, and 

23 other charges with respect to the property sub24 ject to the mortgage. 


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1 (B) AGGREGATE AMOUNT.—An aggregate 

2 amount assistance over the entire period under 

3 paragraph (2) that assistance is provided with 

4 respect to the mortgage, which shall be estab5 lished by the Secretary taking into consider6 ation the total amount made available for the 

7 program under this section. 

8 (5) PREVENTION OF DOUBLE PAYMENTS.—The 

9 Secretary shall take appropriate actions to ensure 

10 that, in the case of any payment on an eligible mort11 gage paid by a mortgagor for any period for which 

12 payment has already been made under the program 

13 under this section, the mortgagor or other servicer 

14 of the mortgage shall return such payment within a 

15 reasonable period of time or shall immediately credit 

16 such payment toward amortization of the principal 

17 obligation under the mortgage, and promptly notify 

18 the mortgagor of such credit. 

19 (c) REPAYMENT OF ASSISTANCE.— 

20 (1) GRANT ASSISTANCE; NO REPAYMENT.— 

21 (A) IN GENERAL.—Any assistance pro22 vided under the program under this section 

23 with respect to any eligible mortgage during 

24 any period during which the annual income of 

25 household of the mortgagor, as determined by 


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1 the Secretary, does not exceed 200 percent of 

2 the poverty line applicable to a family of the 

3 size involved shall be in the form of a grant 

4 and, except as provided in subparagraph (B), 

5 the Secretary may not require repayment of any 

6 such amounts. 

7 (B) REPAYMENT IN CASES OF FORE8 CLOSURE.—If the mortgagee for any eligible 

9 mortgage for which assistance payments are 

10 made pursuant to this subsection forecloses on 

11 the mortgage, takes legal action to enforce the 

12 mortgage obligation, or otherwise recovers pos13 session of any security of the mortgage as a re14 sult of default on the obligation of the mort15 gage, the Secretary shall terminate payment of 

16 assistance under this section with respect to the 

17 mortgage and shall treat any assistance pre18 viously provided with respect to the mortgage 

19 as assistance in the form of a loan pursuant to 

20 paragraph (2). 

21 (2) LOAN ASSISTANCE; REPAYMENT RE22 QUIRED.—Any assistance provided under the pro23 gram under this section with respect to any eligible 

24 mortgage during any period during which the annual 

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1 mined by the Secretary, exceeds 200 percent of the 

2 poverty line applicable to a family of the size in3 volved shall be in the form of a loan, as follows: 

4 (A) NO INTEREST.—Such loan shall not 

5 bear any interest. 

6 (B) 10-YEAR TERM.—Such loan shall have 

7 a term to maturity of 10 years, which shall not 

8 commence until the period of assistance under 

9 subsection (b)(2) with respect to mortgage has 

10 terminated. 

11 (C) SECURITY.—Repayment of such loan 

12 shall be secured by a lien on the residential 

13 property that is subject to the eligible mortgage 

14 for which the assistance under this section was 

15 provided under the loan, in the aggregate 

16 amount of such loan assistance provided. Such 

17 lien shall be held by the Secretary and shall be 

18 subordinate to other mortgages and other se19 cured liens on the property in effect upon the 

20 date that assistance under the program under 

21 this section is first provided for the mortgage, 

22 and to any Federal tax lien, but shall be supe23 rior to any other lien. 

24 (D) AGREEMENT.—The terms of such loan 

25 shall be set forth in a written agreement, as the 


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1 Secretary considers appropriate, between the 

2 Secretary and the mortgagor. 

3 (d) APPLICATION FOR ASSISTANCE.— 

4 (1) IN GENERAL.—To be eligible for mortgage 

5 assistance under this section, a mortgagor for an eli6 gible mortgage shall submit an application for such 

7 assistance in such form and manner as the Sec8 retary shall require, which shall provide such infor9 mation regarding the eligible mortgage as the Sec10 retary shall require, including information sufficient 

11 for the Secretary to comply with paragraph (2), and 

12 shall include a financial statement disclosing all in13 come of each member of the household of the mort14 gagor regardless of source. An application for such 

15 assistance may be submitted before the eligible 

16 member of the Armed Forces who is a member of 

17 the eligible household begins active duty described in 

18 subsection (g)(2). 

19 (2) NOTIFICATION TO MORTGAGEE AND

20 SERVICER.—Upon submission of an application 

21 under paragraph (1), the Secretary shall notify the 

22 mortgagee and servicer, if the mortgagee is not the 

23 servicer, of the eligible mortgage of the submission 

24 of the application for assistance under this section. 


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1 (3) INCOME INFORMATION.—The Secretary 

2 shall require that each such application include a 

3 certification by the mortgagor for the eligible mort4 gage of the anticipated income of the household of 

5 the mortgagor during the anticipated period of as6 sistance under this section, which, in the case of an 

7 application described in the last sentence of para8 graph (1), may be based on household income in the 

9 month before commencement of the active duty of 

10 the eligible member of the Armed Forces, less any 

11 such income attributable to such eligible member, 

12 plus the expected military pay of such eligible mem13 ber. The Secretary may make a determination re14 garding compliance of the income of a mortgagor’s 

15 household with the requirements under paragraphs 

16 (1)(A) and (2) of subsection (c) based upon such a 

17 certification, subject to such reviews as the Sec18 retary shall, by regulation, provide. 

19 (4) EFFECT OF MISREPRESENTATION.—A 

20 mortgagor who is determined to have intentionally 

21 misrepresented any financial information in connec22 tion with the filing of an application for assistance 

23 under this section may be denied assistance and re24 quired to immediately repay any amount of assist25 ance already received, and the mortgagee may, at 


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1 any time thereafter, take any legal action to enforce 

2 the mortgage, if appropriate. 

3 (5) REVIEW AND DETERMINATION.— 

4 (A) IN GENERAL.—The Secretary shall re5 view each application submitted for assistance 

6 under this section and make a determination 

7 regarding the eligibility for assistance of the 

8 mortgage specified in the application not later 

9 than 30 days after receipt of the application of 

10 the mortgagor, and shall notify the mortgagor 

11 and the mortgagee and servicer of approval or 

12 disapproval of such application not later than 

13 30 days after making the determination regard14 ing approval. 

15 (B) FAILURE TO MAKE DETERMINA16 TION.—If the Secretary fails to make a deter17 mination regarding eligibility for assistance of a 

18 mortgage during the 30-day period specified in 

19 subparagraph (A) or fails to provide the notice 

20 regarding such determination as required under 

21 such paragraph, the mortgage shall be consid22 ered for purposes of this section to have been 

23 approved as eligible for assistance upon the 

24 date that the application for the mortgage was 

25 submitted to the Secretary. 


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1 (e) COORDINATION WITH OTHER AGENCIES AND EN2 TITIES.— 

3 (1) PUBLICITY.—The Secretary shall take such 

4 action as may be necessary to ensure that eligible 

5 households and eligible members of the Armed 

6 Forces are aware of and informed about the avail7 ability of and requirements for mortgage assistance 

8 under this section, which may include consulting and 

9 coordinating appropriate activities with the Sec10 retary of Defense, the Federal financial institutions 

11 regulatory agencies, financial institutions regulated 

12 by such regulatory agencies, other mortgage lenders, 

13 the Federal National Mortgage Association, the Fed14 eral Home Loan Mortgage Corporation, and mort15 gage counseling agencies. 

16 (2) IMPLEMENTATION.—The Secretary shall 

17 consider using States, State or local agencies (in18 cluding housing and housing finance agencies), 

19 mortgage lenders and other financial institutions, 

20 and other entities to conduct some or all of the func21 tions and responsibilities involved in carrying out the 

22 program for mortgage assistance under this section 

23 and may enter into agreements with such entities to 

24 provide for such entities to carry out such functions 

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1 propriate to ensure that such assistance is provided 

2 in an effective and efficient manner. 

3 (f) SAVINGS CLAUSE.—This section may not be con4 strued to alter, affect, or limit any provision of the 

5 Servicemembers Civil Relief Act (50 U.S.C. App. 501 et 

6 seq.). 

7 (g) DEFINITIONS.—For the purposes of this section, 

8 the following definitions apply: 

9 (1) ACTIVE DUTY.—The terms ‘‘active duty’’ 

10 and ‘‘active duty for a period of more than 30 days’’ 

11 have the meanings given such terms in section 

12 101(d) of title 10, United States Code. 

13 (2) ELIGIBLE MEMBER OF THE ARMED

14 FORCES.—The term ‘‘eligible member of the Armed 

15 Forces’’ means a member of the Armed Forces who, 

16 while a member of the Individual Ready Reserve or 

17 the inactive National Guard, is serving on active 

18 duty pursuant to a call or order to active duty for 

19 a period of more than 30 days. 

20 (3) ELIGIBLE MORTGAGE.—The term ‘‘eligible 

21 mortgage’’ means any mortgage that meets the re22 quirements of subsection (a)(2) for assistance under 

23 this section. 

24 (4) ELIGIBLE HOUSEHOLD.—The term ‘‘eligible 

25 household’’ means a household that— 


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1 (A) contains a member who is an eligible 

2 member of the Armed Forces; and 

3 (B) has been determined by the Secretary 

4 to be eligible for mortgage assistance under this 

5 section. 

6 (5) FEDERAL FINANCIAL INSTITUTIONS REGU7 LATORY AGENCIES.—The term ‘‘Federal financial in8 stitutions regulatory agencies’’ means the Office of 

9 the Comptroller of the Currency, the Board of Gov10 ernors of the Federal Reserve System, the Federal 

11 Deposit Insurance Corporation, the Office of Thrift 

12 Supervision, and the National Credit Union Admin13 istration. 

14 (6) HOUSEHOLD.—The term ‘‘household’’ 

15 means a mortgagor, the mortgagor’s spouse, chil16 dren residing in the same residence as the mort17 gagor, and any other person living in such residence 

18 that is declared by the mortgagor as a dependent for 

19 Federal income tax purposes. 

20 (7) INCOME.—The term ‘‘income’’ means, with 

21 respect to the household of an eligible mortgagor, 

22 the aggregate income from the all sources of each 

23 member of the household, as determined in accord24 ance with criteria prescribed by the Secretary. 


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1 (8) MORTGAGE; MORTGAGEE; MORTGAGOR.— 

2 The terms ‘‘mortgage’’, ‘‘mortgagee’’, and ‘‘mort3 gagor’’ have the meanings given such terms in sec4 tion 201 of the National Housing Act (12 U.S.C. 

5 1707). 

6 (9) POVERTY LINE.—The term ‘‘poverty line’’ 

7 has the meaning given such term in section 673(2) 

8 of the Omnibus Budget Reconciliation Act of 1981, 

9 including any revision required by such section. 

10 (10) SECRETARY.—The term ‘‘Secretary’’ 

11 means the Secretary of Housing and Urban Develop12 ment. 

13 (11) SERVICER.—The term ‘‘servicer’’ has the 

14 meaning given such term in section 6(i) of the Real 

15 Estate Settlement Procedures Act of 1974 (12 

16 U.S.C. 2605(i)). 

17 (h) FUNDING.— 

18 (1) USE OF TARP FUNDS.—Using the authority 

19 available under sections 101(a) and 115(a) of divi20 sion A of the Emergency Economic Stabilization Act 

21 of 2008 (12 U.S.C. 5211(a), 5225(a)), the Secretary 

22 of the Treasury shall transfer to the Secretary of 

23 Housing and Urban Development $25,000,000, and 

24 the Secretary of Housing and Urban Development 

25 shall use such amount only for mortgage assistance 


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1 under this section, including costs (as such term is 

2 defined in section 502 of the Federal Credit Reform 

3 Act of 1990 (2 U.S.C. 661a) of loans under sub4 section (c)(2) of this section, except that of such 

5 amount $5,000,000 shall be available for such as6 sistance in each of fiscal years 2010, 2011, 2012, 

7 2013, and 2014. 

8 (2) REDUCTION OF TARP AUTHORIZATION

9 LIMIT TO OFFSET COSTS.—Paragraph (3) of section 

10 115(a) of the Emergency Economic Stabilization Act 

11 of 2008 (12 U.S.C. 5225), as amended by section 

12 3(m)(2) of this Act, is further amended by inserting 

13 ‘‘, as such amount is reduced by $25,000,000’’ after 

14 ‘‘$700,000,000,000,’’. 

15 (i) REGULATIONS.—Not later than the expiration of 

16 the 180-day period beginning on the date of the enactment 

17 of this Act, the Secretary, in consultation with the Federal 

18 financial institutions regulatory agencies, shall issue such 

19 regulations as may be necessary to carry out this Act, 

20 which shall provide for the implementation of the mort21 gage assistance program under this Act upon the expira22 tion of such period. 

Æ 


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