I 
116TH CONGRESS 
2D SESSION 
H. R. 8824 
To require the continuation of the FHA affordable rental housing financing 
partnership with the Federal Financing Bank, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 27, 2020 
Ms. VELA´ZQUEZ introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To require the continuation of the FHA affordable rental 
housing financing partnership with the Federal Financ-
ing Bank, and for other purposes. 
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 ‘‘Federal Financing 
Bank Risk-Sharing Act of 2020’’. 
SEC. 2. CONTINUATION OF FHA-FFB AFFORDABLE RENTAL 
HOUSING FINANCING PARTNERSHIP. 
(a) REQUIREMENT.—The Secretary of Housing and 
Urban Development and the Secretary of the Treasury 
shall continue to carry out the FHA affordable rental 
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housing financing partnership with the Federal Financing 
Bank, under which such Bank provides financing for loans 
insured under the FHA Multifamily Risk-Sharing Pro-
gram under section 542 of the Housing and Community 
Development Act of 1992 (12 U.S.C. 1715z–22), and may 
enter into such new commitments under such program 
during each fiscal year, subject to the overall limitations 
provided in this Act on new commitments to guarantee 
loans insured under the General and Special Risk Insur-
ance Funds, as authorized by sections 238 and 519 of the 
National Housing Act (12 U.S.C. 1715z–3 and 1735c). 
(b) RURAL POPULATIONS.—In complying with sub-
section (a), the Secretary of Housing and Urban Develop-
ment shall make any changes to the Risk-Sharing Pro-
gram that the Secretary determines are necessary or ap-
propriate to enhance the scope and effectiveness of the 
Program for rural populations. 
(c) COMMUNITY DEVELOPMENT FINANCIAL INSTITU-
TIONS.—Pursuant to section 542(b) of Housing and Com-
munity Development Act of 1992 (12 U.S.C. 1715z–22), 
the Secretary of Housing and Urban Development shall 
enter into risk-sharing agreements with community devel-
opment financial institutions, as such term is defined in 
section 103 of the Riegle Community Development and 
Regulatory Improvement Act of 1994 (12 U.S.C. 4702). 
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(d) AFFORDABLE HOUSING.—Section 542 of the 
Housing and Community Development Act of 1992 (12 
U.S.C. 1715z–22) is amended— 
(1) in subsection (b), by striking paragraph (9) 
and inserting the following new paragraph: 
‘‘(9) 
AFFORDABLE
HOUSING.—Multifamily 
housing securing loans insured or reinsured under 
this subsection shall qualify as affordable only if the 
housing bears rents not greater than the gross rent 
for rent-restricted residential units as determined 
under section 42(g) of the Internal Revenue Code of 
1986 (26 U.S.C. 42(g)).’’; and 
(2) in subsection (c), by striking paragraph (7) 
and inserting the following new paragraph: 
‘‘(7) 
AFFORDABLE
HOUSING.—Multifamily 
housing securing loans insured or reinsured under 
this subsection shall qualify as affordable only if the 
housing bears rents not greater than the gross rent 
for rent-restricted residential units as determined 
under section 42(g) of the Internal Revenue Code of 
1986 (26 U.S.C. 42(g)).’’. 
Æ 
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