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SECTION 1. SHORT TITLE.

This Act may be cited as the ''Saving Family Homes Act of 2008''.

SEC. 2. RIGHT TO RENT HOME SUBJECT TO FORECLOSURE.

(a) Exercise of Right.--If, at any time after notice under
subsection (b) for an eligible mortgage is provided to the eligible
mortgagor and before the commencement of the 7-day period that ends on
the first date that the foreclosing creditor may first commence or
execute such foreclosure pursuant to such notice, the eligible
mortgagor under the eligible mortgage that is subject to such
foreclosure provides notice in accordance with section 3,
notwithstanding such foreclosure or any other interests in the
property, the eligible mortgagor may, at the sole option of the
eligible mortgagor, continue to occupy the foreclosed property during
the 20-year period that begins upon the commencement of such occupancy,
subject to the requirements of subsection (c).
(b) Limitation on Timing of Foreclosure; Notice of Default and
Right To Rent.--Notwithstanding any other provision of law or any
contract, a foreclosure of an eligible mortgage may not be commenced or
executed before the expiration of the 28-day period beginning upon the
receipt, by the eligible mortgagor, of written notice provided by the
foreclosing creditor for the mortgage that--
(1) clearly states that--
(A) the eligible mortgagor is in default on the
mortgage; and
(B) foreclosure on the mortgage may or will be
commenced on account of such default;
(2) clearly states that the eligible mortgagor has the
right, notwithstanding foreclosure, to continue to occupy the
foreclosed property in accordance with this Act, and sets forth
the terms of such occupancy under subsections (a) and (c); and
(3) identifies the first date, pursuant to this section and
any other provisions of law and contract, that such foreclosure
may be commenced.
(c) Terms of Periodic Tenancy.--Occupancy, by an eligible
mortgagor, of a foreclosed property pursuant to subsection (a) shall be
under a periodic month-to-month tenancy under which the owner of the
property may terminate the tenancy for material breach but shall have
no authority, at will, to terminate the tenancy during the occupancy
pursuant to subsection (a) if the mortgagor--
(1) timely pays to the owner of the foreclosed property
rent on a monthly basis in the amount of the fair market rent
for the property determined in accordance with section 4; and
(2) uses property as the principal residence of the
mortgagor.

SEC. 3. REQUIRED NOTICE.

With respect to an eligible mortgage for which notice under
subsection (b) has been provided, notice in accordance with this
section is notice that--
(1) is made in writing;
(2) is submitted to--
(A) the court having jurisdiction and venue to
conduct the covered foreclosure proceeding for the
eligible mortgage or, in the case of nonjudicial
foreclosure, the court in which an action is brought
pursuant to section 5; and
(B) the foreclosing creditor; and
(3) states that the eligible mortgagor is exercising the
authority under section 2(a) to continue to occupy the
foreclosed property.

SEC. 4. DETERMINATION OF FAIR MARKET RENT.

(a) Initial Determination.--For purposes of this Act, the fair
market rent for a foreclosed property involved in a covered foreclosure
proceeding shall be the amount that is determined by an independent
appraiser who is licensed or certified, as applicable, to conduct
appraisals in the jurisdiction in which the property is located, who
shall be appointed for such purpose by the court conducting such
proceeding or hearing an action pursuant to section 5.
(b) Periodic Adjustments.--The fair market rent determined under
subsection (a) for a foreclosed property shall be adjusted annually to
reflect changes in the owners' equivalent rent of primary residence
component, for the appropriate city, region, or class of city, as
available, of the Consumer Price Index for All Urban Consumers of the
Bureau of Labor Statistics of the Department of Labor.
(c) Redetermination.--If the owner of a foreclosed property or the
eligible mortgagor under the eligible mortgage requests the court
described in subsection (a) to redetermine the fair market rent for a
foreclosed property determined pursuant to this section (as such amount
may have been adjusted pursuant to subsection (b)) and agrees to pay
any costs of such redetermination (including costs of the appraisal
involved), the court shall provide for redetermination of the fair
market rent for the foreclosed property in the manner provided under
subsection (a), except that no such redetermination shall be made
pursuant to a request under this subsection made before the expiration
of the 12-month period beginning upon the most recent redetermination
conducted at the request of the same party.

SEC. 5. NONJUDICIAL FORECLOSURE PROCEEDINGS.

In the case of any covered foreclosure proceeding that is not
conducted or administered by a court, the eligible mortgagor may bring
an action in an appropriate court of the State in which the foreclosed
property is located for a determination of fair market rent for the
foreclosed property for purposes of this Act, by filing notice in
accordance with section 3 with such court and otherwise complying with
the rules of such court.

SEC. 6. NO BAR TO FORECLOSURE.

This Act may not be construed to delay, or otherwise modify,
affect, or alter any right of a creditor under an eligible mortgage to
foreclose on the mortgage and to sell the foreclosed property in
connection with such foreclosure, except that the right of any owner of
the property to possession of the property shall be subject to the
leasehold interest established pursuant to section 2(c).

SEC. 7. RIGHT TO REINSTATEMENT.

This Act may not be construed to affect any right of any eligible
mortgagor to reinstatement of an eligible mortgage, including any right
established under contract or State law.

SEC. 8. JURISDICTION OF FEDERAL COURTS.

At the option of the eligible mortgagor, a proceeding under section
4 or 5 shall be removed to the appropriate district court of the United
States in accordance with section 1441 of title 28, United States Code.

SEC. 9. EFFECT ON STATE LAW.

This Act does not annul, alter, affect, or exempt any person
subject to the provisions of this Act from complying with the laws of
any State regarding foreclosure on residential properties, except to
the extent that such laws are inconsistent with any provision of this
Act, and then only to the extent of such inconsistency.

SEC. 10. DEFINITIONS.

For purposes of this Act, the following definitions apply:
(1) Covered foreclosure proceeding.--The term ''covered
foreclosure proceeding'' means a foreclosure proceeding with
respect to an eligible mortgage, and includes any foreclosure
proceeding authorized under the law of the applicable State,
including judicial and non-judicial foreclosure proceedings.
(2) Eligible mortgagor.--The term ''eligible mortgagor''
means a mortgagor under an eligible mortgage.
(3) Eligible mortgage.--The term ''eligible mortgage''
means a first mortgage--
(A) on property that--
(i) is a single family property; and
(ii) has been used as the principal
residence of the eligible mortgagor for a
period of not less than 2 years immediately
preceding the initiation of the covered
foreclosure proceeding involved;
(B) that was made in connection with the purchase
of the property by the mortgagor for a purchase price
that is less than the median purchase price for
residences that are located in--
(i) the same metropolitan statistical area;
or
(ii) if the property is not located in a
metropolitan statistical area or information
for the area is not available, the same State;
and
(C) that was originated before July 1, 2007.
For purposes of subparagraph (B), the median purchase price of
residences located within a metropolitan area or State shall be
determined according to information collected and made
available by the National Association of Realtors for such area
or State for the most recently completed month for which such
information is available.
(4) Foreclosed property.--The term ''foreclosed property''
means, with respect to a covered foreclosure proceeding, the
single family property that is subject to the eligible mortgage
being foreclosed under the proceeding.
(5) Foreclosing creditor.--The term ''foreclosing
creditor'' means, with respect to a covered foreclosure
proceeding, the creditor that is foreclosing the eligible
mortgage through such proceeding.
(6) Owner.--The term ''owner'' means, with respect to a
foreclosed property, the person who has title to the property
pursuant to the foreclosure proceeding for the property, and
any successor or assign of such person.
(7) Single family property.--The term ''single family
property'' means--
(A) a structure consisting of 1 to 4 dwelling
units;
(B) a dwelling unit in a multi-unit condominium
property together with an undivided interest in the
common areas and facilities serving the property; or
(C) a dwelling unit in a multi-unit project for
which purchase of stock or a membership interest
entitles the purchaser to permanent occupancy of that
unit.

SEC. 11. APPLICABILITY AND SUNSET.

(a) Applicability.--Subject to subsection (b), this Act shall apply
to any covered foreclosure proceeding that has not been finally
adjudicated as of the date of the enactment of this Act.
(b) Sunset.--This Act shall not apply to any foreclosure proceeding
commenced after the expiration of the 5-year period beginning on the
date of the enactment of this Act.
Saving Family Homes Act of 2008 - Grants eligible mortgagors subject to foreclosure proceedings the right to continue to occupy forclosed properties subject to the payment of fair market rent for a period of 20 years that begins upon the commencement of occupancy of such property.

SECTION 1. SHORT TITLE.
This Act may be cited as the ''American Veterans Disabled for Life
Commemorative Coin Act''.
SEC. 2. FINDINGS.
The Congress finds as follows:
(1) The Armed Forces of the United States have answered the
call and served with distinction around the world--from hitting the
beaches in World War II in the Pacific and Europe, to the cold and
difficult terrain in Korea, the steamy jungles of Vietnam, and the
desert sands of the Middle East.
(2) All Americans should commemorate those who come home having
survived the ordeal of war, and solemnly honor those who made the
ultimate sacrifice in giving their lives for their country.
(3) All Americans should honor the millions of living disabled
veterans who carry the scars of war every day, and who have made
enormous personal sacrifices defending the principles of our
democracy.
(4) In 2000, Congress authorized the construction of the
American Veterans Disabled for Life Memorial.
(5) The United States should pay tribute to the Nation's living
disabled veterans by minting and issuing a commemorative silver
dollar coin.
(6) The surcharge proceeds from the sale of a commemorative
coin would raise valuable funding for the construction of the
American Veterans Disabled for Life Memorial.
SEC. 3. COIN SPECIFICATIONS.
(a) $1 Silver Coins.--The Secretary of the Treasury (hereafter in
this Act referred to as the ''Secretary'') shall mint and issue not
more than 350,000 $1 coins in commemoration of disabled American
veterans, each of which shall--
(1) weigh 26.73 grams;
(2) have a diameter of 1.500 inches; and
(3) contain 90 percent silver and 10 percent copper.
(b) Legal Tender.--The coins minted under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
(c) Numismatic Items.--For purposes of sections 5134 and 5136 of
title 31, United States Code, all coins minted under this Act shall be
considered to be numismatic items.
SEC. 4. DESIGN OF COINS.
(a) Design Requirements.--
(1) Design.--The design of the coins minted under this Act
shall be emblematic of the service of our disabled veterans who,
having survived the ordeal of war, made enormous personal
sacrifices defending the principles of our democracy.
(2) Designation and inscriptions.--On each coin minted under
this Act, there shall be--
(A) a designation of the value of the coin;
(B) an inscription of the year ''2010''; and
(C) inscriptions of the words ''Liberty'', ''In God We
Trust'', ''United States of America'', and ''E Pluribus Unum''.
(b) Selection.--The design for the coins minted under this Act
shall be--
(1) selected by the Secretary, after consultation with the
Disabled Veterans' LIFE Memorial Foundation and the Commission of
Fine Arts; and
(2) reviewed by the Citizens Coinage Advisory Committee.
SEC. 5. ISSUANCE OF COINS.
(a) Quality of Coins.--Coins minted under this Act shall be issued
in uncirculated and proof qualities.
(b) Mint Facility.--
(1) In general.--Only 1 facility of the United States Mint may
be used to strike any particular quality of the coins minted under
this Act.
(2) Use of the united states mint at west point, new york.--It
is the sense of the Congress that the coins minted under this Act
should be struck at the United States Mint at West Point, New York,
to the greatest extent possible.
(c) Period for Issuance.--The Secretary may issue coins under this
Act only during the calendar year beginning on January 1, 2010.
SEC. 6. SALE OF COINS.
(a) Sale Price.--The coins issued under this Act shall be sold by
the Secretary at a price equal to the sum of--
(1) the face value of the coins;
(2) the surcharge provided in section 7 with respect to such
coins; and
(3) the cost of designing and issuing the coins (including
labor, materials, dies, use of machinery, overhead expenses,
marketing, and shipping).
(b) Bulk Sales.--The Secretary shall make bulk sales of the coins
issued under this Act at a reasonable discount.
(c) Prepaid Orders.--
(1) In general.--The Secretary shall accept prepaid orders for
the coins minted under this Act before the issuance of such coins.
(2) Discount.--Sale prices with respect to prepaid orders under
paragraph (1) shall be at a reasonable discount.
SEC. 7. SURCHARGES.
(a) In General.--All sales of coins issued under this Act shall
include a surcharge of $10 per coin.
(b) Distribution.--Subject to section 5134(f) of title 31, United
States Code, all surcharges received by the Secretary from the sale of
coins issued under this Act shall be paid to the Disabled Veterans'
LIFE Memorial Foundation for the purpose of establishing an endowment
to support the construction of American Veterans' Disabled for Life
Memorial in Washington, D.C.
(c) Audits.--The Comptroller General of the United States shall
have the right to examine such books, records, documents, and other
data of the Disabled Veterans' LIFE Memorial Foundation as may be
related to the expenditures of amounts paid under subsection (b).
(d) Limitation.--Notwithstanding subsection (a), no surcharge may
be included with respect to the issuance under this Act of any coin
during a calendar year if, as of the time of such issuance, the
issuance of such coin would result in the number of commemorative coin
programs issued during such year to exceed the annual 2 commemorative
coin program issuance limitation under section 5112(m)(1) of title 31,
United States Code (as in effect on the date of the enactment of this
Act). The Secretary of the Treasury may issue guidance to carry out
this subsection.

Speaker of the House of Representatives.

Vice President of the United States and
President of the Senate.
American Veterans Disabled for Life Commemorative Coin Act - Directs the Secretary of the Treasury to mint and issue $1 silver coins emblematic of the service of our disabled veterans who, having survived the ordeal of war, made enormous personal sacrifices defending the principles of our democracy.

Expresses the sense of Congress that, to the greatest extent possible, the coins should be struck at the U.S. Mint at West Point, New York.

Limits the period for coin issuance to the calendar year beginning on January 1, 2010.

Imposes a $10 surcharge per coin, to be distributed to the Disabled Veterans' LIFE Memorial Foundation for the purpose of establishing an endowment to support the construction of American Veterans' Disabled for Life Memorial in Washington, D.C.

Prohibits a surcharge with respect to the issuance under this Act of any coin during a calendar year if, at the time of issuance, it would result in more than the statuory maximum of two commemorative coin programs per year.

SECTION 1. INVESTIGATIONS BY THE FEDERAL ENERGY REGULATORY COMMISSION
UNDER THE NATURAL GAS ACT AND FEDERAL POWER ACT.

(a) Investigations Under the Natural Gas Act.--Section 14(c) of the
Natural Gas Act (15 U.S.C. 717m(c)) is amended--
(1) by striking ''(c) For the purpose of'' and inserting
the following:
''(c) Taking of Evidence.--
''(1) In general.--For the purpose of'';
(2) by striking ''Such attendance'' and inserting the
following:
''(2) No geographic limitation.--The attendance'';
(3) by striking ''Witnesses summoned'' and inserting the
following:
''(3) Expenses.--Any witness summoned''; and
(4) by adding at the end the following:
''(4) Exclusive authority.--Notwithstanding any other
provision of law, the exercise of the authorities of the
Commission under this subsection shall not be subject to the
consent of the Office of Management and Budget or any other
Federal agency.''.
(a) Investigations Under the Federal Power Act.--Section 307(b) of
the Federal Power Act (16 U.S.C. 825f(b)) is amended--
(1) by striking ''(b) For the purpose of'' and inserting
the following:
''(b) Taking of Evidence.--
''(1) In general.--For the purpose of'';
(2) by striking ''Such attendance'' and inserting the
following:
''(2) No geographic limitation.--The attendance'';
(3) by striking ''Witnesses summoned'' and inserting the
following:
''(3) Expenses.--Any witness summoned''; and
(4) by adding at the end the following:
''(4) Exclusive authority.--Notwithstanding any other
provision of law, the exercise of the authorities of the
Commission under this subsection shall not be subject to the
consent of the Office of Management and Budget or any other
Federal agency.''.

SEC. 2. INCREASE IN CRIMINAL PENALTIES UNDER THE NATURAL GAS ACT AND
FEDERAL POWER ACT.

(a) Criminal Penalties Under the Natural Gas Act.--Section 21 of
the Natural Gas Act (15 U.S.C. 717t) is amended--
(1) in subsection (a), by striking ''punished by a fine of
not more than $5,000 or by imprisonment for not more than two
years, or both'' and inserting ''imprisoned not more than 5
years, fined not more than $1,000,000, or both''; and
(2) in subsection (b), by striking ''$500 for each and
every day during which such offense occurs'' and inserting
''$50,000 for each day of each violation''.
(b) Criminal Penalties Under the Federal Power Act.--
(1) General Penalties.--Section 316 of the Federal Power
Act (16 U.S.C. 825o) is amended--
(A) in subsection (a), by striking ''punished by a
fine of not more than $5,000 or by imprisonment for not
more than two years or both'' and inserting
''imprisoned not more than 5 years, fined not more than
$1,000,000, or both''; and
(B) in subsection (b), by striking ''$500 for each
and every day during which such offense occurs'' and
inserting ''$50,000 for each day of each violation''.
(2) Enforcement of certain provisions.--Section 316A of the
Federal Power Act (16 U.S.C. 825o-1) is amended--
(A) by striking subsection (a) and inserting the
following:
''(a) Violations.--It shall be unlawful for any person--
''(1) to violate any provision of part II (including any
rule or order issued under a provision of that part); or
''(2) to fail to comply, within a time period specified by
the Commission, with--
''(A) any written request by the Commission or a
member of the staff of the Commission for information;
or
''(B) a formal investigation or proceeding under
this part.''; and
(B) in subsection (b)--
(i) by striking ''section 211, 212, 213 or
214 or any provision of any rule or order
thereunder'' and inserting the following:
''part II (including any rule or order issued
under a provision of that part) or fails to
comply in a timely manner with any written
request for information by the Commission or a
member of the staff of the Commission or in a
formal investigation or proceeding under this
part''; and
(ii) by striking ''$10,000 for each day
that such violation continues'' and inserting
''$50,000 for each day of each violation''.

SEC. 3. CONSULTING SERVICES.

Title IV of the Department of Energy Organization Act (42 U.S.C.
7171 et seq.) is amended by adding at the end the following:

''SEC. 408. CONSULTING SERVICES.

''(a) In General.--The Chairman may contract for the services of
consultants to assist the Commission in carrying out any
responsibilities of the Commission under this Act, the Federal Power
Act (16 U.S.C. 791a et seq.), or the Natural Gas Act (15 U.S.C. 717 et
seq.).
''(b) Applicable Law.--In contracting for consultant services under
subsection (a), if the Chairman determines that the contract is in the
public interest, the Chairman, in entering into a contract, shall not
be subject to--
''(1) section 5, 253, 253a, or 253b of title 41, United
States Code; or
''(2) any law (including a regulation) relating to
conflicts of interest.''.
Amends the Natural Gas Act and the Federal Power Act to: (1) provide that the Federal Energy Regulatory Commission (FERC) is not subject to the consent of the Office of Management and Budget or any other Federal agency when it elects to exercise its investigative authority; and (2) increase criminal penalties for violations of these Acts.Amends the Department of Energy Organization Act to authorize the Chairman of FERC to contract for consultant services to assist the Commission in carrying out its responsibilities.States that in contracting for those services the Chairman shall not be subject to any law relating to conflicts of interest.