IB 
Union Calendar No. 16 
112TH CONGRESS 
1ST SESSION 
H. R. 861 
[Report No. 112–32] 
To rescind the third round of funding for the Neighborhood Stabilization 
Program and to terminate the program. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 1, 2011 
Mr. GARY G. MILLER of California (for himself, Mr. BACHUS, Mrs. BIGGERT, 
and Mr. GARRETT) introduced the following bill; which was referred to 
the Committee on Financial Services 
MARCH 11, 2011 
Additional sponsor: Mr. COFFMAN of Colorado 
MARCH 11, 2011 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
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A BILL 
To rescind the third round of funding for the Neighborhood 
Stabilization Program and to terminate the program. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘NSP Termination 
Act’’. 
SEC. 2. RESCISSION OF $1 BILLION FUNDING FOR 3RD 
ROUND OF NEIGHBORHOOD STABILIZATION 
PROGRAM. 
Effective on the date of the enactment of this Act, 
there are rescinded and permanently canceled all unobli-
gated balances remaining available as of such date of en-
actment of the amounts made available by section 1497(a) 
of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (Public Law 111–203; 124 Stat. 2209; 42 
U.S.C. 5301 note). 
SEC. 3. TERMINATION OF NEIGHBORHOOD STABILIZATION 
PROGRAM. 
(a) REPEAL.—Sections 2301 through 2303 of the 
Housing and Economic Recovery Act of 2008 (Public Law 
110–289; 122 Stat. 2850; 42 U.S.C. 5301 note) are here-
by repealed. 
(b) TREATMENT OF REMAINING FUNDS.— 
(1) SAVINGS CLAUSE.—Notwithstanding the re-
peal under subsection (a), any amounts made avail-
able under the provisions specified in paragraph (2) 
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of this subsection shall continue to be governed by 
any provisions of law applicable to such amounts as 
in effect immediately before such repeal. 
(2) REMAINING FUNDS.—The provisions speci-
fied in this paragraph are as follows: 
(A) Section 2301(a) of the Housing and 
Economic Recovery Act of 2008 (Public Law 
110–289; 122 Stat. 2850; 42 U.S.C. 5301 
note). 
(B) The second undesignated paragraph 
under the heading ‘‘Department of Housing 
and Urban Development, Community Planning 
and
Development,
Community
Development 
Fund’’ in title XII of division A of the Amer-
ican Recovery and Reinvestment Act of 2009 
(Public Law 111–5, 123 Stat. 217). 
(c)
TERMINATION.—Upon
the
obligation
of
all 
amounts made available under the provisions specified in 
subsection (b)(2), and outlays to liquidate all such 
amounts, the Secretary of Housing and Urban Develop-
ment shall terminate the Neighborhood Stabilization Pro-
gram authorized under the provisions specified in sub-
sections (a) and (b)(2). 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘NSP Termination Act’’. 
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SEC. 2. RESCISSION OF $1 BILLION FUNDING FOR 3RD 
ROUND OF NEIGHBORHOOD STABILIZATION 
PROGRAM. 
Effective on the date of the enactment of this Act, there 
are rescinded and permanently canceled all unobligated bal-
ances remaining available as of such date of enactment of 
the amounts made available by section 1497(a) of the Dodd- 
Frank Wall Street Reform and Consumer Protection Act 
(Public Law 111–203; 124 Stat. 2209; 42 U.S.C. 5301 
note). 
SEC. 3. TERMINATION OF NEIGHBORHOOD STABILIZATION 
PROGRAM. 
(a) REPEAL.—Sections 2301 through 2303 of the 
Housing and Economic Recovery Act of 2008 (Public Law 
110–289; 122 Stat. 2850; 42 U.S.C. 5301 note) are hereby 
repealed. 
(b) TREATMENT OF REMAINING FUNDS.— 
(1) SAVINGS CLAUSE.—Notwithstanding the re-
peal under subsection (a), any amounts made avail-
able under the provisions specified in paragraph (2) 
of this subsection shall continue to be governed by any 
provisions of law applicable to such amounts as in ef-
fect immediately before such repeal. 
(2) REMAINING FUNDS.—The provisions specified 
in this paragraph are as follows: 
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(A) Section 2301(a) of the Housing and 
Economic Recovery Act of 2008 (Public Law 
110–289; 122 Stat. 2850; 42 U.S.C. 5301 note). 
(B) The second undesignated paragraph 
under the heading ‘‘Department of Housing and 
Urban Development, Community Planning and 
Development, Community Development Fund’’ 
in title XII of division A of the American Recov-
ery and Reinvestment Act of 2009 (Public Law 
111–5, 123 Stat. 217). 
(c) TERMINATION.—Upon the obligation of all 
amounts made available under the provisions specified in 
subsection (b)(2), and outlays to liquidate all such amounts, 
the Secretary of Housing and Urban Development shall ter-
minate the Neighborhood Stabilization Program authorized 
under the provisions specified in subsections (a) and (b)(2). 
SEC. 4. PUBLICATION OF MEMBER AVAILABILITY FOR AS-
SISTANCE. 
Not later than 5 days after the date of the enactment 
of this Act, the Secretary of Housing and Urban Develop-
ment shall publish to its Website on the World Wide Web 
in a prominent location, large point font, and boldface type 
the following statement: ‘‘The Neighborhood Stabilization 
Program (NSP) has been terminated. If you are concerned 
about the impact of foreclosed properties on your commu-
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nity, please contact your Member of Congress, State, county, 
and local officials for assistance in mitigating the impacts 
of foreclosed properties on your community.’’. 
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Union Calendar No. 16 
112TH CONGRESS 
1ST SESSION 
H. R. 861 
[Report No. 112–32] 
A BILL 
To rescind the third round of funding for the 
Neighborhood Stabilization Program and to ter-
minate the program. 
MARCH 11, 2011 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
VerDate Mar 15 2010 
22:06 Mar 11, 2011
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PO 00000
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