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Housing and Urban Development, the Inspector General of
the Department of Housing and Urban Development, and
the Comptroller General of the United States.
SEC. 505. CONTRACT TO CONDUCT STUDY.
(a) IN GENERAL.—Subject to subsection (b), the Sec-
retary shall enter into a contract with a public or nonprofit
private entity to conduct the study under this subtitle, using
amounts made available pursuant to section 507.
(b) NATIONAL ACADEMY
OF PUBLIC ADMINISTRA-
TION.—The Secretary shall request the National Academy
of Public Administration to enter into the contract under
paragraph (1) to conduct the study under this subtitle. If
such Academy declines to conduct the study, the Secretary
shall carry out such paragraph through other public or non-
profit private entities.
SEC. 506. REPORT.
(a) INTERIM REPORT.—The Secretary shall ensure
that not later than the expiration of the 6-month period
beginning on the date of the enactment of this Act, the entity
conducting the study under this subtitle submits to the Con-
gress an interim report describing the actions taken to carry
out the study, the actions to be taken to complete the study,
and any findings and recommendations available at the
time.
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(b) FINAL
REPORT.—The Secretary shall ensure
that—
(1) not later than the expiration of the 12-month
period beginning on the date of the enactment of this
Act, the study required under this subtitle is com-
pleted and a report describing the findings and rec-
ommendations as a result of the study is submitted to
the Congress; and
(2) before submitting the report under this sub-
section to the Congress, the report is submitted to the
Secretary and national organizations for public hous-
ing agencies at such time to provide the Secretary
and such agencies an opportunity to review the report
and provide written comments on the report, which
shall be included together with the report upon sub-
mission to the Congress under paragraph (1).
SEC. 507. FUNDING.
Of any amounts made available under title V of the
Housing and Urban Development Act of 1970 for policy
development and research for fiscal year 1998, $500,000
shall be available to carry out this subtitle.
SEC. 508. EFFECTIVE DATE.
This subtitle shall take effect on the date of the enact-
ment of this Act.
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Subtitle B—Housing Evaluation
and Accreditation Board
SEC. 521. ESTABLISHMENT.
(a) IN GENERAL.—There is established an independent
agency in the executive branch of the Government to be
known as the Housing Foundation and Accreditation
Board (in this title referred to as the ‘‘Board’’).
(b) REQUIREMENT FOR CONGRESSIONAL REVIEW OF
STUDY.—Notwithstanding any other provision of this Act,
sections 523, 524, and 525 shall not take effect and the
Board shall not have any authority to take any action
under such sections (or otherwise) unless there is enacted
a law specifically providing for the repeal of this subsection.
This subsection may not be construed to prevent the ap-
pointment of the Board under section 522.
(c) EFFECTIVE DATE.—This section shall take effect
on the date of the enactment of this Act.
SEC. 522. MEMBERSHIP.
(a) IN GENERAL.—The Board shall be composed of 12
members appointed by the President not later than 180
days after the date of the final report regarding the study
required under subtitle A is submitted to the Congress pur-
suant to section 506(b), as follows:
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(1) 4 members shall be appointed from among 10
individuals recommended by the Secretary of Housing
and Urban Development.
(2) 4 members shall be appointed from among 10
individuals recommended by the Chairman and
Ranking Minority Member of the Committee on
Banking, Housing, and Urban Affairs of the Senate.
(3) 4 members appointed from among 10 indi-
viduals recommended by the Chairman and Ranking
Minority Member of the Committee on Banking and
Financial Services of the House of Representatives.
(b) QUALIFICATIONS.—
(1) REQUIRED
REPRESENTATION.—The Board
shall at all times have the following members:
(A) 2 members who are residents of public
housing or dwelling units assisted under title III
of this Act or the provisions of section 8 of the
United States Housing Act of 1937 (as in effect
before the effective date of the repeal under sec-
tion 601(b) of this Act).
(B) At least 2, but not more than 4 mem-
bers who are executive directors of public housing
agencies.
(C) 1 member who is a member of the Insti-
tute of Real Estate Managers.
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(D) 1 member who is the owner of a multi-
family housing project assisted under a program
administered by the Secretary of Housing and
Urban Development.
(2) REQUIRED EXPERIENCE.—The Board shall
at all times have as members individuals with the fol-
lowing experience:
(A) At least 1 individual who has extensive
experience in the residential real estate finance
business.
(B) At least 1 individual who has extensive
experience in operating a nonprofit organization
that provides affordable housing.
(C) At least 1 individual who has extensive
experience in construction of multifamily hous-
ing.
(D) At least 1 individual who has extensive
experience in the management of a community
development corporation.
(E) At least 1 individual who has extensive
experience in auditing participants in govern-
ment programs.
A single member of the board with the appropriate ex-
perience may satisfy the requirements of more than 1
subparagraph of this paragraph. A single member of