(2) NOTICE TO ELIGIBLE PURCHASERS.—Upon 
provision to the Secretary of notice under paragraph 
(1)(A) regarding a multifamily housing project, the 
Secretary shall take such actions as may be nec-
essary to provide notice to eligible purchasers of the 
owner’s intent to sell or transfer the property. 
(3) ELIGIBLE PURCHASERS.—For purposes of 
this section, an eligible purchaser under this para-
graph shall be a nonprofit organization, a public 
housing agency, a cooperative housing association, a 
community land trust, or a State or unit of local 
government or an agency thereof, as such terms are 
defined by the Secretary. 
(c) PURCHASE ASSISTANCE.— 
(1) APPLICATION.—The Secretary shall provide 
for eligible purchasers to apply for assistance from 
the Fund to cover the cost of acquisition of a multi-
family housing project for which notice has been 
submitted pursuant to subsection (1)(A). 
(2) CRITERIA.—The Secretary shall establish 
such criteria and preferences as the Secretary con-
siders appropriate to select an eligible purchaser for 
assistance under this section in cases in which more 
than one approvable application for such assistance 
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is submitted with respect to a single multifamily 
housing project. 
(3) AMOUNT.—Pursuant to an application sub-
mitted under paragraph (1) with respect to a multi-
family housing project, the Secretary may provide 
assistance from the Fund on behalf of eligible pur-
chaser submitting such application, in an amount 
equal to the purchase price for the project agreed to 
under subparagraph (A) of this paragraph, but only 
if the Secretary determines that— 
(A) such eligible purchaser and the owner 
of such multifamily housing project have volun-
tarily agreed to a sale of such project to the eli-
gible purchaser for an amount not exceeding 
the fair market value of the project as of the 
time of provision of assistance from the Fund 
for purchase of the project, as determined by 
the Secretary; and 
(B) the eligible purchaser has made the 
certifications and entered into the agreements 
required under subsection (d) with respect to 
the project. 
(d) AFFORDABLE HOUSING RESTRICTIONS.—The 
certifications and agreements required under this sub-
section with respect to a multifamily housing project are 
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such certifications to, and binding agreements with, the 
Secretary as the Secretary considers necessary to ensure 
that during the useful life of the project the project will 
comply with the following requirements: 
(1) AFFORDABLE HOUSING.—The project shall 
comply with the requirements under section 215(a) 
of the Cranston-Gonzalez National Affordable Hous-
ing Act (42 U.S.C. 12745(a)) necessary to qualify 
under such section as affordable housing. 
(2) JUST-CAUSE EVICTIONS.—A tenant of the 
project may be evicted only for just cause and only 
pursuant to advance written notice to the tenant of 
such just cause. 
(3) SOURCE OF INCOME DISCRIMINATION.—A 
prospective tenant household of the project may not 
be refused rental of a dwelling unit in the project, 
and a prospective tenant household or tenant house-
hold may not be discriminated against in the renting 
of a dwelling unit in the project, based on the source 
of income of such household, including income under 
the program under section 8(o) of the United States 
Housing Act of 1937 (42 U.S.C. 1437f(o)) or any 
similar tenant-based rental assistance program. 
(4) ADMISSIONS
RESTRICTIONS.—Tenancy of 
dwelling units in the project may not be restricted 
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on the basis of sexual identity or orientation, gender 
identity or expression, conviction or arrest record, 
credit history, or immigration status. 
(5) SUPPORTIVE SERVICES.—Residents of the 
project shall be provided with free, voluntary sup-
portive services that help address the needs of those 
experiencing chronic homelessness or housing insta-
bility, including access to healthcare, employment or 
education assistance, childcare, financial literacy 
education, and other community-based support serv-
ices, as the Secretary shall require. 
(6) DEMOCRATIC
CONTROL.—Tenants of the 
project shall have control of living and operating 
conditions in the project through a democratically 
elected resident board or council. 
(e) RECAPTURE.—If an eligible purchaser violates 
any requirement with respect to a multifamily housing 
project purchased with assistance provided from the Fund 
under any certification or agreement entered into pursu-
ant to subsection (d), the Secretary shall recapture from 
the eligible purchase an amount equal to the amount of 
such assistance provided and shall cover such amount re-
captured into the Fund. 
(f) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated for the Affordable Housing 
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Acquisition Fund established pursuant to this section such 
sums as may be necessary— 
(1) for assistance under this section to fund ac-
quisition of multifamily housing projects by eligible 
purchasers; and 
(2) for each fiscal year, for assistance for the 
operation and maintenance of eligible properties pur-
chased with assistance provided from the Fund. 
SEC. 8. DEFINITIONS. 
For purposes of this Act, the following definitions 
shall apply: 
(1) COVERED RENTAL DWELLING UNIT.—The 
term ‘‘covered rental dwelling unit’’ means a dwell-
ing that is occupied by a tenant— 
(A) as a primary residence; and 
(B)(i) pursuant to a residential lease; or 
(ii) without a lease or with a lease ter-
minable at will under State law. 
Such term includes such a dwelling unit in multi-
family housing, single-family housing, a condo-
minium unit, a unit in cooperative housing, a dwell-
ing unit that is occupied pursuant to a sublease, a 
single-room occupancy unit, and a manufactured 
housing dwelling unit and the lot on which it is lo-
cated. 
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(2) 
COVERED
RESIDENTIAL
MORTGAGE 
LOAN.—The term ‘‘covered residential mortgage 
loan’’ means any consumer credit transaction that is 
secured by a mortgage, deed of trust, or other equiv-
alent consensual security interest on residence con-
sisting of a single dwelling unit that is occupied by 
the mortgagor as a primary residence. 
(3) COVID-19 SUSPENSION PERIOD.—The term 
‘‘COVID-19 suspension period’’ means the period 
beginning on March 1, 2020, and ending on April 1, 
2022. 
(4) MULTIFAMILY
HOUSING
PROJECT.—The 
term ‘‘multifamily housing project’’ means a residen-
tial structure consisting of 5 or more dwelling units. 
(5) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of Housing and Urban Development. 
SEC. 9. REGULATIONS. 
The Secretary may issue any regulations necessary 
to carry out this Act. 
Æ 
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