National Affordable Housing Trust Fund Act of 2007

Bill: 110-hr-2895
Sponsor: Rep. Frank, Barney [D-MA-4]
Introduced: 2007-06-28 in the House
Policy area: Housing and Community Development
Subjects: Affordable housing
Apartment houses
Building construction
Citizen participation
Congressional reporting requirements
Counseling
Crime and Law Enforcement
Data banks
Economics and Public Finance
Education
Electronic government information
Elementary and secondary education
Emergency Management
Energy
Energy conservation
Environmental Protection
Federal aid to Indians
Federal aid to housing
Federally-guaranteed loans
Finance and Financial Sector
Fire fighters
Government Operations and Politics
Government publicity
Government trust funds
Green products
Health
Housing finance
Housing subsidies
Indian housing
Insurance premiums
Law enforcement officers
Local employees
Low-income housing
Minorities
Mortgage guaranty insurance
Native Americans
Paramedical personnel
Police
Public housing
Rental housing
Science, Technology, Communications
Single family housing
Social Welfare
State employees
Teachers
Water Resources Development
Water conservation

Summary:
action_date: 2007-06-28
text: 
National Affordable Housing Trust Fund Act of 2007 - Amends the Cranston-Gonzalez National Affordable Housing Act to establish in the Treasury a National Affordable Housing Trust Fund available to the Secretary of Housing and Urban Development to provide assistance to states, Indian tribes, insular areas, and participating local jurisdictions to increase the supply of decent quality affordable housing, especially for low-income, extremely low-income, and very poor families.
 

 

 

 


action_date: 2007-10-02
text: 
National Affordable Housing Trust Fund Act of 2007 - Amends the Cranston-Gonzalez National Affordable Housing Act to establish in the Treasury the National Affordable Housing Trust Fund (Fund).
 
Declares that: (1) the Fund shall consist of certain amounts of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation transferred to the Fund under specified law, including Federal Housing Administration (FHA) savings; and (2) all assistance provided from the Fund shall be considered to be federal financial assistance.
 
Sets forth conditions on the use of FHA savings, including: (1) single family housing mortgage insurance; (2) housing counseling; (3) mortgage insurance technology, procedures, processes, program performance, and salaries; (4) exclusion of earnings from the single family mortgage insurance program; and (5) limitation on mortgage insurance premium increases.
 
Sets forth allocations for states, Indian tribes, insular areas, and participating local jurisdictions.
 
Directs the Secretary of Housing and Urban Development (HUD) to: (1) establish a formula to make such allocations based on the relative needs of recipients for funds to increase the supply of decent quality affordable housing; and (2) make a grant to each entity in the amount of such allocation.
 
Requires such formula to: (1) be based upon a comparison of specified factors; and (2) submitted to specified congressional committees.
 
Sets forth a matching requirement. 
 
Provides for: (1) state use of local jurisdictions' unused funds; and (2) competitive grants for areas without allocation plans and recipients with insufficient matching contributions.
 
Requires each grantee to: (1) establish an allocation plan for the distribution of Trust Fund grant amounts that meets specified criteria; (2) notify the public and provide an opportunity for public comments regarding such plan; (3) submit the plan for HUD approval; and (4) distribute grant amounts.
 
Sets forth targeting requirements for the following groups: (1) low-income families; (2) extremely low-income families; (3) very poor families; and (4) families above 50% of area median income. Requires HUD to report to Congress regarding such requirements.
 
Specifies prohibited uses of grants amounts, including: (1) political activities; (2) advocacy; and (3) counseling services.
 
Prescribes affordable housing criteria for: (1) rental housing; (2) owner-occupied housing; and (3) priority for families on section 8 rental assistance or public housing waiting list for 12 months or longer.
 
Prescribes requirements for the tracking of funds to ensure grantee and recipient accountability.

action_date: 2007-10-10
text: 
National Affordable Housing Trust Fund Act of 2007 - Amends the Cranston-Gonzalez National Affordable Housing Act to establish in the Treasury the National Affordable Housing Trust Fund (Fund).
 
Declares that: (1) the Fund shall consist of certain amounts of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation transferred to the Fund under specified law, including Federal Housing Administration (FHA) savings; and (2) all assistance provided from the Fund shall be considered to be federal financial assistance.
 
Sets forth conditions on the use of FHA savings, including: (1) single family housing mortgage insurance; (2) housing counseling; (3) mortgage insurance technology, procedures, processes, program performance, and salaries; (4) exclusion of earnings from the single family mortgage insurance program; and (5) limitation on mortgage insurance premium increases.
 
Sets forth allocations for states, Indian tribes, insular areas, and participating local jurisdictions.
 
Directs the Secretary of Housing and Urban Development (HUD) to: (1) establish a formula to make such allocations based on the relative needs of recipients for funds to increase the supply of decent quality affordable housing; and (2) make a grant to each entity in the amount of such allocation.
 
Requires such formula to be: (1) based upon a comparison of specified factors; and (2) submitted to specified congressional committees.
 
Sets forth a matching requirement. 
 
Provides for: (1) state use of local jurisdictions' unused funds; and (2) competitive grants for areas without allocation plans and recipients with insufficient matching contributions.
 
Requires each grantee to: (1) establish an allocation plan for the distribution of Trust Fund grant amounts that meets specified criteria; (2) notify the public and provide an opportunity for public comments regarding such plan; (3) submit the plan for HUD approval; and (4) distribute grant amounts.
 
Authorizes a grantee, with respect to eligible activities involving one- to four-family owner-occupied housing, to give preference in the use of grant amounts to eligible activities relating to affordable housing for first responders, public safety officers, teachers, and other public employees who have family incomes, subject to specified requirements.
 
Sets forth targeting requirements for the following groups: (1) low-income families; (2) extremely low-income families; (3) very poor families; and (4) families above 50% of area median income. Requires HUD to report to Congress regarding such requirements.
 
Specifies prohibited uses of grants amounts, including: (1) political activities; (2) advocacy; and (3) counseling services.
 
Prescribes affordable housing criteria for: (1) rental housing; (2) owner-occupied housing; and (3) priority for families on section 8 rental assistance or public housing waiting list for 12 months or longer.
 
Prescribes requirements for the tracking of funds to ensure grantee and recipient accountability.
 
Directs the Secretary to establish a clearinghouse of information, made available over the Internet, relating to green building techniques to provide grantees and Fund recipients information regarding use of Fund amounts in a manner that increases the efficiency of buildings and their use of energy, water, and materials, and reduces building impacts on human health and the environment, through better siting, design, construction, operation, maintenance, and removal.
 
 
Declares that nothing in this Act allows any payments for any individual or head of household that is not a legal resident.


Legislative actions:
action_date: 2007-10-15
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2007-10-10
text: The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 2895.
action_date: 2007-10-10
text: On passage Passed by the Yeas and Nays: 264 - 148 (Roll no. 958).
action_date: 2007-10-10
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2007-10-10
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 264 - 148 (Roll no. 958).
action_date: 2007-10-10
text: On motion to recommit with instructions Failed by recorded vote: 199 - 218 (Roll no. 957).
action_date: 2007-10-10
text: The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H11444)
action_date: 2007-10-10
text: DEBATE - The House proceeded with 10 minutes of debate on the Musgrave motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with language inserting work requirements for residents.
action_date: 2007-10-10
text: Mrs. Musgrave moved to recommit with instructions to Financial Services. (consideration: CR H11443-11445)
action_date: 2007-10-10
text: The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text: CR H11425-11430)
action_date: 2007-10-10
text: The previous question was ordered pursuant to the rule. (consideration: CR H11443)
action_date: 2007-10-10
text: The House rose from the Committee of the Whole House on the state of the Union to report H.R. 2895.
action_date: 2007-10-10
text: UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed.
action_date: 2007-10-10
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the Neugebauer amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Neugebauer demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
action_date: 2007-10-10
text: DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 20 minutes of debate on the Neugebauer amendment.
action_date: 2007-10-10
text: DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 10 minutes of debate on the Frank (MA) amendment.
action_date: 2007-10-10
text: DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 10 minutes of debate on the Frank (MA) amendment.
action_date: 2007-10-10
text: DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 10 minutes of debate on the Frank (MA) amendment.
action_date: 2007-10-10
text: DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 10 minutes of debate on the Frank (MA) amendment.
action_date: 2007-10-10
text: DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 10 minutes of debate on the Hastings (FL) amendment.
action_date: 2007-10-10
text: DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 10 minutes of debate on the Frank (MA) amendment.
action_date: 2007-10-10
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the Frank(MA) amendment No. 1, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Frank(MA) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
action_date: 2007-10-10
text: GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 2895.
action_date: 2007-10-10
text: The Speaker designated the Honorable Tim Holden to act as Chairman of the Committee.
action_date: 2007-10-10
text: House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 720 and Rule XVIII.
action_date: 2007-10-10
text: Rule provides for consideration of H.R. 2895 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Service now printed in the bill.
action_date: 2007-10-10
text: Considered under the provisions of rule H. Res. 720. (consideration: CR H11415-11446)
action_date: 2007-10-10
text: Rule H. Res. 720 passed House.
action_date: 2007-10-09
text: Rules Committee Resolution H. Res. 720 Reported to House. Rule provides for consideration of H.R. 2895 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. It shall be in order to consider as original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Service now printed in the bill.
action_date: 2007-10-02
text: Placed on the Union Calendar, Calendar No. 222.
action_date: 2007-10-02
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 110-362.
action_date: 2007-10-02
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 110-362.
action_date: 2007-07-31
text: Ordered to be Reported (Amended) by the Yeas and Nays: 45 - 23.
action_date: 2007-07-31
text: Committee Consideration and Mark-up Session Held.
action_date: 2007-07-26
text: Committee Consideration and Mark-up Session Held.
action_date: 2007-07-19
text: Committee Hearings Held.
action_date: 2007-06-28
text: Referred to the House Committee on Financial Services.
action_date: 2007-06-28
text: Introduced in House
action_date: 2007-06-28
text: Introduced in House