I 
110TH CONGRESS 
2D SESSION 
H. R. 5829 
To improve the Operating Fund for public housing of the Department of 
Housing and Urban Development, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 17, 2008 
Mr. SIRES (for himself, Mr. FRANK of Massachusetts, and Mr. MEEK of Flor-
ida) introduced the following bill; which was referred to the Committee 
on Financial Services 
A BILL 
To improve the Operating Fund for public housing of the 
Department of Housing and Urban Development, 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 ‘‘Public Housing Asset 
Management Improvement Act of 2008’’. 
SEC. 2. REVISIONS TO ASSET MANAGEMENT RULES AND 
RELATED FEES. 
(a) MANAGEMENT AND RELATED FEES.—The Sec-
retary of Housing and Urban Development shall not im-
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pose any restriction or limitation on the amount of man-
agement and related fees with respect to a public housing 
project if the fee is determined to be reasonable 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 ear-
lier 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. 
The Secretary may not consider a public housing agency 
as failing to comply with the asset management require-
ments of subpart H of part 990 of title 24 of the Code 
of Federal Regulations, or any successor or amended regu-
lation containing asset management requirements, or de-
termine that an agency fails to comply with such require-
ments, because of or as a result of the agency determining 
its fees in accordance with this subsection. 
(b) INCREASE
OF THRESHOLD
FOR EXEMPTION 
FROM ASSET MANAGEMENT REQUIREMENTS.— 
(1) INCREASE.—Any public housing agency 
that owns or operates fewer than 500 public housing 
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units under title I of the United States Housing Act 
of 1937 may elect to be exempt from any asset man-
agement requirement imposed by the Secretary of 
Housing and Urban Development. 
(2) DETERMINATION OF OPERATING FUND AL-
LOCATION.—If a public housing agency elects pursu-
ant to paragraph (1) to be exempt from asset man-
agement requirements, the agency may, at its op-
tion, retain the same number of separate public 
housing projects, for purposes of determining its op-
erating fund allocation, as the agency had identified 
and the Secretary of Housing and Urban Develop-
ment had approved before the agency’s election to be 
so exempt. 
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 Capital Fund assistance under section 9(d) of such 
Act, pursuant 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 hous-
ing agency. 
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