IIB 
116TH CONGRESS 
1ST SESSION H. R. 1060 
IN THE SENATE OF THE UNITED STATES 
MAY 15, 2019 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
To provide regulatory relief to charitable organizations that 
provide housing assistance, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Building Up Inde-
pendent Lives and Dreams Act’’ or the ‘‘BUILD Act’’. 
SEC. 2. MORTGAGE LOAN TRANSACTION DISCLOSURE RE-
QUIREMENTS. 
(a) TILA AMENDMENT.—Section 105 of the Truth 
in Lending Act (15 U.S.C. 1604) is amended by inserting 
after subsection (d) the following: 
‘‘(e) DISCLOSURE
FOR
CHARITABLE
MORTGAGE 
LOAN TRANSACTIONS.—With respect to a mortgage loan 
transaction involving a residential mortgage loan offered 
at 0 percent interest primarily for charitable purposes by 
an organization described in section 501(c)(3) of the In-
ternal Revenue Code of 1986 and exempt from taxation 
under section 501(a) of such Code, forms HUD–1 and 
GFE (as defined under section 1024.2(b) of title 12, Code 
of Federal Regulations) together with a disclosure sub-
stantially in the form of the Loan Model Form H–2 (as 
depicted in Appendix H to part 1026 of title 12, Code 
of Federal Regulations) shall, collectively, be an appro-
priate model form for purposes of subsection (b) of this 
section.’’. 
(b) RESPA AMENDMENT.—Section 4 of the Real Es-
tate Settlement Procedures Act of 1974 (12 U.S.C. 2603) 
is amended by adding at the end the following: 
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‘‘(d) DISCLOSURE
FOR
CHARITABLE
MORTGAGE 
LOAN TRANSACTIONS.—With respect to a mortgage loan 
transaction involving a residential mortgage loan offered 
at 0 percent interest primarily for charitable purposes, an 
organization described in section 501(c)(3) of the Internal 
Revenue Code of 1986 and exempt from taxation under 
section 501(a) of such Code may use forms HUD–1 and 
GFE (as defined under section 1024.2(b) of title 12, Code 
of Federal Regulations) together with a disclosure sub-
stantially in the form of the Loan Model Form H–2 (as 
depicted in Appendix H to part 1026 of title 12, Code 
of Federal Regulations), collectively, in lieu of the disclo-
sure published under subsection (a) of this section.’’. 
(c) REGULATIONS.—Not later than 180 days after 
the date of the enactment of this Act, the Director of the 
Bureau of Consumer Financial Protection shall issue such 
regulations as may be necessary to implement the amend-
ments made by subsections (a) and (b). 
(d) EFFECTIVE DATE.—The amendments made by 
subsections (a) and (b) shall take effect on the date of 
the enactment of this Act. 
SEC. 3. DETERMINATION OF BUDGETARY EFFECTS. 
The budgetary effects of this Act, for the purpose of 
complying with the Statutory Pay-As-You-Go Act of 2010, 
shall be determined by reference to the latest statement 
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titled ‘‘Budgetary Effects of PAYGO Legislation’’ for this 
Act, submitted for printing in the Congressional Record 
by the Chairman of the House Budget Committee, pro-
vided that such statement has been submitted prior to the 
vote on passage. 
Passed the House of Representatives May 14, 2019. 
Attest: 
CHERYL L. JOHNSON, 
Clerk. 
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