tured home community reasonable rules or regula-
tions, or the community has a material, legitimate, 
and uniformly applied business reason for termi-
nation that was included in the lease agreement as 
grounds for termination. 
(B) In such a case of termination, a right to 
written notice provided by the owner of the commu-
nity informing the tenant of the termination and the 
specific reason or reasons for termination. 
Nothing in this subsection may be construed to annul, 
alter, or affect any State or local law providing greater 
protections to tenants of manufactured home communities 
than the protections afforded under this subsection. 
(c) PRICING INCENTIVES.—Any covered pricing in-
centive offered for loans issued after the date of the enact-
ment of this Act shall reward implementation of resident 
protections that are more protective than those specified 
in subsection (b). Any covered pricing incentive that does 
not comply with this requirement may not be offered for 
any loan issued after the date of the enactment of this 
Act. 
SEC. 3. MANUFACTURED HOME COMPANY LENDING STAND-
ARDS COMMISSION. 
(a) ESTABLISHMENT.—There is established a com-
mission to be known as the Manufactured Home Company 
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Lending Standards Commission (in this section referred 
to as the ‘‘Commission’’). 
(b) DUTIES.— 
(1) PROPOSED
STANDARDS.—Not later than 
the expiration of the 12-month period beginning on 
the date of the enactment of this Act, the Commis-
sion shall submit to the Congress, the Secretary of 
Housing and Urban Development, and the Director 
of the Federal Housing Finance Agency a report 
that sets forth proposed consumer protection stand-
ards for the covered loan programs that— 
(A) are in addition to and provide greater 
protection than the requirements under section 
2(b); and 
(B) could be used as a basis for estab-
lishing covered pricing incentives under the cov-
ered loan programs that comply with section 
2(c). 
(2) STANDARD
FOR
DETERMINATIONS.—Any 
determination by the Commission to approve a con-
sumer protection in the proposed standards required 
under paragraph (1) shall be made by a vote of a 
simple majority of the members of the Commission. 
(c) MEMBERSHIP.— 
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(1) NUMBER AND APPOINTMENT.—The Com-
mission shall be composed of 10 members, as fol-
lows: 
(A) The Secretary of Housing and Urban 
Development (or the Secretary’s designee). 
(B) The Director of the Federal Housing 
Finance Agency (or the Director’s designee). 
(C) Two each shall be appointed by the 
Speaker of the House of Representatives, the 
minority leader of the House of Representa-
tives, the majority leader of the Senate, and the 
minority leader of the Senate. Of the two mem-
bers appointed by each such officer— 
(i) one shall be employed at the time 
of appointment as a professor or academic 
researcher with demonstrated background 
in housing and consumer protection issues, 
especially as they relate to manufactured 
housing; and 
(ii) one shall be a current or former 
member of Congress. 
(2) CHAIRPERSON AND CO-CHAIRPERSON.— 
(A) CHAIRPERSON.—The chairperson of 
the Commission shall be designated by the 
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President from among the members of the 
Commission. 
(B) CO-CHAIRPERSON.—The co-chairper-
son shall be selected as follows: 
(i) DESIGNATION
BY
SPEAKER
OF 
THE HOUSE.—If, on the date of appoint-
ment, the Speaker of the House is of a dif-
ferent political party than the President, 
the Speaker of the House shall designate 
the co-chairperson from among the mem-
bers of the Commission. 
(ii) DESIGNATION BY MINORITY LEAD-
ER OF THE HOUSE.—If, on the date of ap-
pointment, the Speaker of the House is of 
the same political party as the President, 
the minority leader of the House shall des-
ignate the co-chairperson from among the 
members of the Commission. 
(3) TIMING OF APPOINTMENTS.—Appointments 
to the Commission shall be made not later than 45 
days after the date of the enactment of this Act. 
(4) TERMS; VACANCIES.—Each member shall be 
appointed for the life of the Commission. Any va-
cancy in the Commission shall not affect its powers 
and shall be filled within 45 days of the vacancy in 
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the manner in which the original appointment was 
made. 
(5) HEARINGS.—In carrying out its duties 
under this section, the Commission is authorized to 
hold such hearings and take testimony with respect 
to matters to which it has a responsibility under this 
section. The Chairperson, or any member authorized 
by the Chairperson, may administer oaths or affir-
mations to witnesses appearing before the Commis-
sion. 
(6) PROHIBITION
OF
COMPENSATION.—Mem-
bers of the Commission shall serve without pay. 
(d) OPERATION AND POWERS.— 
(1) MEETINGS.—The Commission shall meet 
not later than 30 days after the date upon which a 
majority of its members have been appointed and at 
such times thereafter as the chairperson or co-chair-
person shall determine. Detailed minutes of each 
meeting of the Commission, except for any closed 
session, shall be kept and shall include a record of 
the persons present and a complete and accurate de-
scription of matters discussed. 
(2) RULES OF PROCEDURE.—The chairperson 
and co-chairperson shall, with the approval of a ma-
jority of the members of the Commission, establish 
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written rules of procedure for the Commission, 
which shall include a quorum requirement to con-
duct the business of the Commission. 
(3) HEARINGS.—The Commission shall hold no 
fewer than 2 hearings on matters to carry out its 
duties under subsection (b). The Commission may 
take testimony and receive evidence as the Commis-
sion considers appropriate. Timely public notice of 
each hearing, including the time, place, and agenda 
of the meeting, shall be provided by any means de-
termined by the Commission to provide for wide 
publicity. Timely notice of each regular meeting 
shall be published in the Federal Register. Inter-
ested persons shall be permitted to submit written 
statements regarding the matters on the agenda of 
such hearings. 
SEC. 4. DEFINITIONS. 
For purposes of this Act, the following definitions 
shall apply: 
(1) AFFILIATE.—Except as provided by the 
Secretary of Housing and Urban Development or the 
Director of the Federal Housing Finance Agency, as 
applicable, the term ‘‘affiliate’’ means, with respect 
to a borrower referred to in section 2(a), any entity 
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that controls, is controlled by, or is under common 
control with, the borrower. 
(2) COVERED LOAN PROGRAM.—The term ‘‘cov-
ered loan program’’ means any of the following pro-
grams: 
(A) The program under section 207 of the 
National Housing Act (12 U.S.C. 1713) for in-
surance of loans for financing for the construc-
tion or substantial rehabilitation of manufac-
tured home parks. 
(B) The program of the Federal National 
Mortgage Association for multifamily loans for 
manufactured housing communities. 
(C) The program of the Federal Home 
Loan Mortgage Corporation for loans for manu-
factured housing communities. 
(3) COVERED PRICING INCENTIVE.—The term 
‘‘covered pricing incentive’’ means any pricing dis-
count available to borrowers under any of the cov-
ered loan programs that rewards the borrower’s im-
plementation of one or more specific resident protec-
tions and is designed to ensure that the benefits of 
a covered loan program are provided at a lower cost 
for manufactured home communities based on the 
extent to which residents of a manufactured home 
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community are better protected from predatory rent 
increases and management practices. 
(4) MANUFACTURED HOME.—The term ‘‘manu-
factured home’’ has the meaning given such term in 
section 603(6) of the National Manufactured Hous-
ing Construction Safety and Standards Act of 1976, 
except that such term shall include any structure de-
scribed in such section without regard to whether 
such structure complies with any standards under 
such Act and without regard to the date of the man-
ufacture of such structure. 
(5) MANUFACTURED HOME COMMUNITY.—The 
term ‘‘manufactured home community’’ means any 
community, court, or park equipped to accommodate 
manufactured homes for which pad sites or pad sites 
and the manufactured homes, or both, are leased to 
residents to be used primarily for residential pur-
poses, including any manufactured housing commu-
nity as such term is used for purposes of a program 
referred to in subparagraph (B) or (C) of paragraph 
(2). 
SEC. 5. FUNDING. 
No additional funds are authorized to be appro-
priated to carry out this Act. Any expenses required to 
carry out this Act shall be funded using amounts other-
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wise available to the Department of Housing and Urban 
Development or to the Federal Housing Finance Agency. 
SEC. 6. TERMINATION. 
The Commission shall terminate upon the submission 
of the report required under section 3(b). 
Æ 
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