To clarify that nonprofit organizations such as Habitat for Humanity can accept donated mortgage appraisals, and for other purposes.

Bill: 114-hr-3704
Sponsor: full_name: Rep. Meadows, Mark [R-NC-11]
Introduced: 2015-10-07
Policy area: Housing and Community Development
Subjects: Charitable contributions

Housing finance and home ownership

Real estate business

Social work, volunteer service, charitable organizations
Latest action: action_date: 2015-10-07
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2015-10-07
action_desc: Introduced in House
text: <p>This bill amends the Truth in Lending Act to deem mortgage appraisal services donated by a fee appraiser to an organization eligible to receive tax-deductible charitable contributions to be customary and reasonable. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 3704 IN THE HOUSE OF REPRESENTATIVES October 7, 2015 Mr. Meadows (for himself and Mr. Butterfield ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To clarify that nonprofit organizations such as Habitat for Humanity can accept donated mortgage appraisals, and for other purposes.

1. Exemption from Truth in Lending Act Section 129E(i) of the Truth in Lending Act ( 15 U.S.C. 1639e(i) ) is amended by adding at the end the following: (4) Rule of construction related to appraisal donations For purposes of paragraph (1), if a fee appraiser voluntarily donates appraisal services to an organization eligible to receive tax-deductible charitable contributions, such voluntary donation shall be deemed customary and reasonable. .