Title: Keep Your Home Act of 2018
Policy area: Housing and Community Development

Summary:
Keep Your Home Act of 2018
This bill amends the Emergency Economic Stabilization Act of 2008 to reauthorize the Department of the Treasury's Hardest Hit Fund (which supports programs that assist homeowners faced with financial hardship) and otherwise modify provisions related to the fund.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5673 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 5673

 To extend the Hardest Hit Fund of the Department of the Treasury, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 1, 2018

     Mrs. Torres (for herself and Ms. Maxine Waters of California) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
 To extend the Hardest Hit Fund of the Department of the Treasury, and 
                          for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Keep Your Home Act of 2018''.

SEC. 2. EXTENSION OF HARDEST HIT FUND.

    The last sentence of subsection (b) of section 120 of the Emergency 
Economic Stabilization Act of 2008 (12 U.S.C. 5230(b)) is amended--
            (1) by striking ``may'' and inserting ``shall'';
            (2) by striking ``on December 31, 2017'' and inserting 
        ``upon the expiration of the 12-month period that begins upon 
        the date of the enactment of the Keep Your Home Act of 2018'';
            (3) by striking ``and (2)'' and inserting ``(2)''; and
            (4) by striking ``following such extension shall not exceed 
        $2,000,000,000'' and inserting ``after the date of the 
        enactment of the Keep Your Home Act of 2018 shall not be less 
        than $4,000,000,000 nor exceed $5,500,000,000, (3) in 
        obligating funds following such date of enactment the Secretary 
        shall give preference for allocation for States that, as of the 
        expiration of the 6-month period that begins upon such date of 
        enactment, have disbursed 95 percent or more of the funds 
        previously made available to the State through such Innovation 
        Fund program, (4) the Secretary shall allocate for States all 
        such funds referred to in clause (2) not later than the 
        expiration of the 12-month period that begins upon such date of 
        enactment, and (5) the Secretary shall establish an expiration 
        date by which States receiving funds from such Innovation Fund 
        shall disburse such amounts, which shall be based on the 
        specific amount of funding made available for such Innovation 
        Fund by the Keep Your Home Act of 2018 and the rate of spending 
        of funds made available for such Innovation Fund before 
        enactment of such Act''.
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