SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Public Housing Asset 
Management Improvement Act of 2007’’. 
SEC. 2. REVISIONS TO ASSET MANAGEMENT RULES AND RE-
LATED FEES. 
(a) MANAGEMENT
AND RELATED FEES.—The Sec-
retary shall not impose any restriction or limitation on the 
amount of management and related fees with respect to a 
public housing project if the fee is determined to be reason-
able by the public housing agency, unless such restriction 
or limitation imposed by the Secretary on such fees— 
(1) is determined pursuant to a negotiated rule-
making which is convened by the Secretary no earlier 
than April 1, 2009, and in accordance with sub-
chapter III of chapter 5 of title 5, United States Code, 
with representatives from interested parties; and 
(2) is effective only on or after January 1, 2011. 
(b) INCREASE OF THRESHOLD FOR EXEMPTION FROM 
ASSET MANAGEMENT REQUIREMENTS.—Any public hous-
ing agency that owns or operates fewer than 500 public 
housing units under title I of the United States Housing 
Act of 1937 may elect to be exempt from any asset manage-
ment requirement imposed by the Secretary. 
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SEC. 3. PROHIBITION ON RESTRICTION OF FUNGIBILITY OF 
CAPITAL FUND AMOUNTS. 
The Secretary of Housing and Urban Development 
shall not impose any requirement, regulation, or guideline 
relating to asset management that restricts or limits in any 
way the use by public housing agencies of amounts for Cap-
ital Fund assistance under section 9(d) of such Act, pursu-
ant to paragraph (1) or (2) of section 9(g) of the United 
States Housing Act of 1937 (42 U.S.C. 1437g(g)), for costs 
of any central office of a public housing agency. 
SEC. 4. TENANT PARTICIPATION. 
(a) RULE OF CONSTRUCTION.—Neither the require-
ments of this Act, nor any other requirement, regulation, 
guideline, or other policy or action of the Department of 
Housing and Urban Development relating to public housing 
asset management may be construed to repeal or waive any 
provision of part 964 of title 24 of the Code of Federal Regu-
lations, regarding tenant participation and tenant oppor-
tunities in public housing. The Secretary of Housing and 
Urban Development shall ensure that public housing agen-
cies encourage the reasonable efforts of resident tenant orga-
nizations to represent their members or the reasonable ef-
forts of tenants to organize. 
(b) GUIDANCE.—Guidance issued by the Secretary of 
Housing and Urban Development shall encourage partici-
pation by residents in the implementation of asset manage-
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ment and the development of local policies for such pur-
poses. 
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Union Calendar No. 318 
110TH CONGRESS 
2D SESSION 
H. R. 3521 
[Report No. 110–521] 
A BILL 
To improve the Operating Fund for public housing 
of the Department of Housing and Urban Devel-
opment. 
JANUARY 29, 2008 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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