[106th Congress Public Law 569]
[From the U.S. Government Printing Office]
<DOC>
[DOCID: f:publ569.106]
[[Page 2943]]
AMERICAN HOMEOWNERSHIP AND ECONOMIC OPPORTUNITY ACT OF 2000
[[Page 114 STAT. 2944]]
Public Law 106-569
106th Congress
An Act
To expand homeownership in the <<NOTE: Dec. 27, 2000 - [H.R.
5640]>> United States, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in <<NOTE: American Homeownership and Economic
Opportunity Act of 2000. 12 USC 1701 note.>> Congress assembled,
SECTION. 1. SHORT TITLE AND TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``American
Homeownership and Economic Opportunity Act of 2000''.
(b) Table of Contents.--The table of contents for this Act is as
follows:
Sec. 1. Short title and table of contents.
TITLE I--REMOVAL OF BARRIERS TO HOUSING AFFORDABILITY
Sec. 101. Short title.
Sec. 102. Grants for regulatory barrier removal strategies.
Sec. 103. Regulatory barriers clearinghouse.
TITLE II--HOMEOWNERSHIP FOR WORKING FAMILIES
Sec. 201. Home equity conversion mortgages.
Sec. 202. Assistance for self-help housing providers.
TITLE III--SECTION 8 HOMEOWNERSHIP OPTION
Sec. 301. Downpayment assistance.
Sec. 302. Pilot program for homeownership assistance for disabled
families.
Sec. 303. Funding for pilot programs.
TITLE IV--PRIVATE MORTGAGE INSURANCE CANCELLATION AND TERMINATION
Sec. 401. Short title.
Sec. 402. Changes in amortization schedule.
Sec. 403. Deletion of ambiguous references to residential mortgages.
Sec. 404. Cancellation rights after cancellation date.
Sec. 405. Clarification of cancellation and termination issues and
lender paid mortgage insurance disclosure requirements.
Sec. 406. Definitions.
TITLE V--NATIVE AMERICAN HOMEOWNERSHIP
Subtitle A--Native American Housing
Sec. 501. Lands title report commission.
Sec. 502. Loan guarantees.
Sec. 503. Native American housing assistance.
Subtitle B--Native Hawaiian Housing
Sec. 511. Short title.
Sec. 512. Findings.
Sec. 513. Housing assistance.
Sec. 514. Loan guarantees.
TITLE VI--MANUFACTURED HOUSING IMPROVEMENT
Sec. 601. Short title; references.
[[Page 114 STAT. 2945]]
Sec. 602. Findings and purposes.
Sec. 603. Definitions.
Sec. 604. Federal manufactured home construction and safety standards.
Sec. 605. Abolishment of National Manufactured Home Advisory Council;
manufactured home installation.
Sec. 606. Public information.
Sec. 607. Research, testing, development, and training.
Sec. 608. Prohibited acts.
Sec. 609. Fees.
Sec. 610. Dispute resolution.
Sec. 611. Elimination of annual reporting requirement.
Sec. 612. Effective date.
Sec. 613. Savings provisions.
TITLE VII--RURAL HOUSING HOMEOWNERSHIP
Sec. 701. Guarantees for refinancing of rural housing loans.
Sec. 702. Promissory note requirement under housing repair loan program.
Sec. 703. Limited partnership eligibility for farm labor housing loans.
Sec. 704. Project accounting records and practices.
Sec. 705. Definition of rural area.
Sec. 706. Operating assistance for migrant farmworkers projects.
Sec. 707. Multifamily rental housing loan guarantee program.
Sec. 708. Enforcement provisions.
Sec. 709. Amendments to title 18 of United States Code.
TITLE VIII--HOUSING FOR ELDERLY AND DISABLED FAMILIES
Sec. 801. Short title.
Sec. 802. Regulations.
Sec. 803. Effective date.
Subtitle A--Refinancing for Section 202 Supportive Housing for the
Elderly
Sec. 811. Prepayment and refinancing.
Subtitle B--Authorization of Appropriations for Supportive Housing for
the Elderly and Persons With Disabilities
Sec. 821. Supportive housing for elderly persons.
Sec. 822. Supportive housing for persons with disabilities.
Sec. 823. Service coordinators and congregate services for elderly and
disabled housing.
Subtitle C--Expanding Housing Opportunities for the Elderly and Persons
With Disabilities
Part 1--Housing for the Elderly
Sec. 831. Eligibility of for-profit limited partnerships.
Sec. 832. Mixed funding sources.
Sec. 833. Authority to acquire structures.
Sec. 834. Use of project reserves.
Sec. 835. Commercial activities.
Part 2--Housing for Persons With Disabilities
Sec. 841. Eligibility of for-profit limited partnerships.
Sec. 842. Mixed funding sources.
Sec. 843. Tenant-based assistance.
Sec. 844. Use of project reserves.
Sec. 845. Commercial activities.
Part 3--Other Provisions
Sec. 851. Service coordinators.
Subtitle D--Preservation of Affordable Housing Stock
Sec. 861. Section 236 assistance.
TITLE IX--OTHER RELATED HOUSING PROVISIONS
Sec. 901. Extension of loan term for manufactured home lots.
Sec. 902. Use of section 8 vouchers for opt-outs.
Sec. 903. Maximum payment standard for enhanced vouchers.
Sec. 904. Use of section 8 assistance by ``grand-families'' to rent
dwelling units in assisted projects.
[[Page 114 STAT. 2946]]
TITLE X--FEDERAL RESERVE BOARD PROVISIONS
Sec.1001.Federal Reserve Board buildings.
Sec.1002.Positions of Board of Governors of the Federal Reserve System
on the
Executive schedule.
Sec.1003.Amendments to the Federal Reserve Act.
TITLE XI--BANKING AND HOUSING AGENCY REPORTS
Sec.1101.Short title.
Sec.1102.Preservation of certain reporting requirements.
Sec.1103.Coordination of reporting requirements.
Sec.1104.Elimination of certain reporting requirements.
TITLE XII--FINANCIAL REGULATORY RELIEF
Sec.1200.Short title.
Subtitle A--Improving Monetary Policy and Financial Institution
Management Practices
Sec.1201.Repeal of savings association liquidity provision.
Sec.1202.Noncontrolling investments by savings association holding
companies.
Sec.1203.Repeal of deposit broker notification and recordkeeping
requirement.
Sec.1204.Expedited procedures for certain reorganizations.
Sec.1205.National bank directors.
Sec.1206.Amendment to National Bank Consolidation and Merger Act.
Sec.1207.Loans on or purchases by institutions of their own stock;
affiliations.
Sec.1208.Purchased mortgage servicing rights.
Subtitle B--Streamlining Activities of Institutions
Sec.1211.Call report simplification.
Subtitle C--Streamlining Agency Actions
Sec.1221.Elimination of duplicative disclosure of fair market value of
assets and
liabilities.
Sec.1222.Payment of interest in receiverships with surplus funds.
Sec.1223.Repeal of reporting requirement on differences in accounting
standards.
Sec.1224.Extension of time.
Subtitle D--Technical Corrections
Sec.1231.Technical correction relating to deposit insurance funds.
Sec.1232.Rules for continuation of deposit insurance for member banks
converting charters.
Sec.1233.Amendments to the Revised Statutes of the United States.
Sec.1234.Conforming change to the International Banking Act of 1978.
TITLE I--REMOVAL OF <<NOTE: Housing Affordability Barrier Removal Act of
2000. 42 USC 12701 note.>> BARRIERS TO HOUSING AFFORDABILITY
SEC. 101. SHORT TITLE.
This title may be cited as the ``Housing Affordability Barrier
Removal Act of 2000''.
SEC. 102. GRANTS FOR REGULATORY BARRIER REMOVAL STRATEGIES.
(a) Authorization of Appropriations.--Subsection (a) of section 1204
of the Housing and Community Development Act of 1992 (42 U.S.C.
12705c(a)) is amended to read as follows:
``(a) Funding.--There is authorized to be appropriated for grants
under subsections (b) and (c) such sums as may be necessary for each of
fiscal years 2001, 2002, 2003, 2004, and 2005.''.
(b) Consolidation of State and Local Grants.--Subsection (b) of
section 1204 of the Housing and Community Development Act of 1992 (42
U.S.C. 12705c(b)) is amended--
(1) in the subsection heading, by striking ``State Grants''
and inserting ``Grant Authority'';
(2) in the matter preceding paragraph (1), by inserting
after ``States'' the following: ``and units of general local
government (including consortia of such governments)'';
[[Page 114 STAT. 2947]]
(3) in paragraph (3), by striking ``a State program to
reduce State and local'' and inserting ``State, local, or
regional programs to reduce'';
(4) in paragraph (4), by inserting ``or local'' after
``State''; and
(5) in paragraph (5), by striking ``State''.
(c) Repeal of Local Grants Provision.--Section 1204 of the Housing
and Community Development Act of 1992 (42 U.S.C. 12705c) is amended by
striking subsection (c).
(d) Application and Selection.--The last sentence of section 1204(e)
of the Housing and Community Development Act of 1992 (42 U.S.C.
12705c(e)) is amended--
(1) by striking ``and for the selection of units of general
local government to receive grants under subsection (f )(2)'';
and
(2) by inserting before the period at the end the following:
``and such criteria shall require that grant amounts be used in
a manner consistent with the strategy contained in the
comprehensive housing affordability strategy for the
jurisdiction pursuant to section 105(b)(4) of the Cranston-
Gonzalez National Affordable Housing Act''.
(e) Selection of Grantees.--Subsection (f ) of section 1204 of the
Housing and Community Development Act of 1992 (42 U.S.C. 12705c(f )) is
amended to read as follows:
``(f ) Selection of Grantees.--To the extent amounts are made
available to carry out this section, the Secretary shall provide grants
on a competitive basis to eligible grantees based on the proposed uses
of such amounts, as provided in applications under subsection (e).''.
(f ) Technical Amendments.--Section 107(a)(1) of the Housing and
Community Development Act of 1974 (42 U.S.C. 5307(a)(1)) is amended--
(1) in subparagraph (G), by inserting ``and'' after the
semicolon at the end;
(2) by striking subparagraph (H); and
(3) by redesignating subparagraph (I) as subparagraph (H).
SEC. 103. REGULATORY BARRIERS CLEARINGHOUSE.
Section 1205 of the Housing and Community Development Act of 1992
(42 U.S.C. 12705d) is amended--
(1) in subsection (a)--
(A) in the matter preceding paragraph (1), by
striking ``receive, collect, process, and assemble'' and
inserting ``serve as a national repository to receive,
collect, process, assemble, and disseminate'';
(B) in paragraph (1)--
(i) by striking ``, including'' and inserting
``(including''; and
(ii) by inserting before the semicolon at the
end the following: ``), and the prevalence and
effects on affordable housing of such laws,
regulations, and policies'';
(C) in paragraph (2), by inserting before the
semicolon the following: ``, including particularly
innovative or successful activities, strategies, and
plans''; and
[[Page 114 STAT. 2948]]
(D) in paragraph (3), by inserting before the period
at the end the following: ``, including particularly
innovative or successful strategies, activities, and
plans'';
(2) in subsection (b)--
(A) in paragraph (1), by striking ``and'' at the
end;
(B) in paragraph (2), by striking the period at the
end and inserting ``; and''; and
(C) by adding at the end the following new
paragraph:
``(3) by making available through a World Wide Web site of
the Department, by electronic mail, or otherwise, provide to
each housing agency of a unit of general local government that
serves an area having a population greater than 100,000, an
index of all State and local strategies and plans submitted
under subsection (a) to the clearinghouse, which--
``(A) shall describe the types of barriers to
affordable housing that the strategy or plan was
designed to ameliorate or remove; and
``(B) shall, not later than <<NOTE: Deadline.>> 30
days after submission to the clearinghouse of any new
strategy or plan, be updated to include the new strategy
or plan submitted.''; and
(3) by adding at the end the following new subsections:
``(c) Organization.--The clearinghouse under this section shall be
established within the Office of Policy Development of the Department of
Housing and Urban Development and shall be under the direction of the
Assistant Secretary for Policy Development and Research.
``(d) Timing.--The <<NOTE: Deadline.>> clearinghouse under this
section (as amended by section 103 of the Housing Affordability Barrier
Removal Act of 2000) shall be established and commence carrying out the
functions of the clearinghouse under this section not later than 1 year
after the date of the enactment of such Act. The Secretary of Housing
and Urban Development may comply with the requirements under this
section by reestablishing the clearinghouse that was originally
established to comply with this section and updating and improving such
clearinghouse to the extent necessary to comply with the requirements of
this section as in effect pursuant to the enactment of such Act.''.
TITLE II--HOMEOWNERSHIP FOR WORKING FAMILIES
SEC. 201. HOME EQUITY CONVERSION MORTGAGES.
(a) Insurance for Mortgages to Refinance Existing HECMs.--
(1) In general.--Section 255 of the National Housing Act (12
U.S.C. 1715z-20) is amended--
(A) by redesignating subsection (k) as subsection
(m); and
(B) by inserting after subsection ( j) the following
new subsection:
``(k) Insurance Authority for Refinancings.--
``(1) In general.--The Secretary may, upon application by a
mortgagee, insure under this subsection any mortgage given to
refinance an existing home equity conversion mortgage insured
under this section.
[[Page 114 STAT. 2949]]
``(2) Anti-churning disclosure.--The Secretary shall, by
regulation, require that the mortgagee of a mortgage insured
under this subsection, provide to the mortgagor, within an
appropriate time period and in a manner established in such
regulations, a good faith estimate of: (A) the total cost of the
refinancing; and (B) the increase in the mortgagor's principal
limit as measured by the estimated initial principal limit on
the mortgage to be insured under this subsection less the
current principal limit on the home equity conversion mortgage
that is being refinanced and insured under this subsection.
``(3) Waiver of counseling requirement.--The mortgagor under
a mortgage insured under this subsection may waive the
applicability, with respect to such mortgage, of the
requirements under subsection (d)(2)(B) (relating to third party
counseling), but only if--
``(A) the mortgagor has received the disclosure
required under paragraph (2);
``(B) the increase in the principal limit described
in paragraph (2) exceeds the amount of the total cost of
refinancing (as described in such paragraph) by an
amount to be determined by the Secretary; and
``(C) the time between the closing of the original
home equity conversion mortgage that is refinanced
through the mortgage insured under this subsection and
the application for a refinancing mortgage insured under
this subsection does not exceed 5 years.
``(4) Credit for premiums paid.--Notwithstanding section
203(c)(2)(A), the Secretary may reduce the amount of the single
premium payment otherwise collected under such section at the
time of the insurance of a mortgage refinanced and insured under
this subsection. The amount of the single premium for mortgages
refinanced under this subsection shall be determined by the
Secretary based on the actuarial study required under paragraph
(5).
``(5) Actuarial study.--Not <<NOTE: Deadline.>> later than
180 days after the date of the enactment of the American
Homeownership and Economic Opportunity Act of 2000, the
Secretary shall conduct an actuarial analysis to determine the
adequacy of the insurance premiums collected under the program
under this subsection with respect to--
``(A) a reduction in the single premium payment
collected at the time of the insurance of a mortgage
refinanced and insured under this subsection;
``(B) the establishment of a single national limit
on the benefits of insurance under subsection (g)
(relating to limitation on insurance authority); and
``(C) the combined effect of reduced insurance
premiums and a single national limitation on insurance
authority.
``(6) Fees.--The Secretary may establish a limit on the
origination fee that may be charged to a mortgagor under a
mortgage insured under this subsection, except that such
limitation shall provide that the origination fee may be fully
financed with the mortgage and shall include any fees paid to
correspondent mortgagees approved by the Secretary.''.
(2) Regulations.--The Secretary <<NOTE: Deadline. 12 USC
1715z-20 note.>> shall issue any final regulations necessary to
implement the amendments made by
[[Page 114 STAT. 2950]]
paragraph (1) of this subsection, which shall take effect not
later than the expiration of the 180-day period beginning on the
date of the enactment of this <<NOTE: Notice.>> Act. The
regulations shall be issued after notice and opportunity for
public comment in accordance with the procedure under section
553 of title 5, United States Code, applicable to substantive
rules (notwithstanding subsections (a)(2), (b)(B), and (d)(3) of
such section).
(b) Housing Cooperatives.--Section 255(b) of the National Housing
Act (12 U.S.C. 1715z-20(b)) is amended--
(1) in paragraph (2), by striking `` `mortgage',''; and
(2) by adding at the end the following new paragraphs:
``(4) Mortgage.--The term `mortgage' means a first mortgage
or first lien on real estate, in fee simple, on all stock
allocated to a dwelling in a residential cooperative housing
corporation, or on a leasehold--
``(A) under a lease for not less than 99 years that
is renewable; or
``(B) under a lease having a period of not less than
10 years to run beyond the maturity date of the
mortgage.
``(5) First mortgage.--The term `first mortgage' means such
classes of first liens as are commonly given to secure advances
on, or the unpaid purchase price of, real estate or all stock
allocated to a dwelling unit in a residential cooperative
housing corporation, under the laws of the State in which the
real estate or dwelling unit is located, together with the
credit instruments, if any, secured thereby.''.
(c) Waiver of Up-Front Premiums for Mortgages Used to Fund Long-Term
Care Insurance.--
(1) In general.--Section 255 of the National Housing Act (12
U.S.C. 1715z-20) is amended by inserting after subsection (k)
(as added by subsection (a) of this section) the following new
subsection:
``(l) Waiver of Up-Front Premiums for Mortgages to Fund Long-Term
Care Insurance.--
``(1) In general.--In the case of any mortgage insured under
this section under which the total amount (except as provided in
paragraph (2)) of all future payments described in subsection
(b)(3) will be used only for costs of a qualified long-term care
insurance contract that covers the mortgagor or members of the
household residing in the property that is subject to the
mortgage, notwithstanding section 203(c)(2), the Secretary shall
not charge or collect the single premium payment otherwise
required under subparagraph (A) of such section to be paid at
the time of insurance.
``(2) Authority to refinance existing mortgage and finance
closing costs.--A mortgage described in paragraph (1) may
provide financing of amounts that are used to satisfy
outstanding mortgage obligations (in accordance with such
limitations as the Secretary shall prescribe) and any amounts
used for initial service charges, appraisal, inspection, and
other fees (as approved by the Secretary) in connection with
such mortgage, and the amount of future payments described in
subsection (b)(3) under the mortgage shall be reduced
accordingly.
``(3) Definition.--For purposes of this subsection, the term
`qualified long-term care insurance contract' has the meaning
given such term in section 7702B of the Internal Revenue
[[Page 114 STAT. 2951]]
Code of 1986 (26 U.S.C. 7702B)), except that such contract shall
also meet the requirements of--
``(A) sections 9 (relating to disclosure), 24
(relating to suitability), and 26 (relating to
contingent nonforfeiture) of the long-term care
insurance model regulation promulgated by the National
Association of Insurance Commissioners (as adopted as of
September 2000); and
``(B) section 8 (relating to contingent
nonforfeiture) of the long-term care insurance model Act
promulgated by the National Association of Insurance
Commissioners (as adopted as of September 2000).''.
(2) Applicability.--The provisions of <<NOTE: 12 USC 1715z-
20 note.>> section 255(l) of the National Housing Act (as added
by paragraph (1) of this subsection) shall apply only to
mortgages closed on or after April 1, 2001.
(d) Study of Single National Mortgage Limit.--The Secretary of
Housing and Urban Development shall conduct an actuarially based study
of the effects of establishing, for mortgages insured under section 255
of the National Housing Act (12 U.S.C. 1715z-20), a single maximum
mortgage amount limitation in lieu of applicability of section 203(b)(2)
of such Act (12 U.S.C. 1709(b)(2)). The study shall--
(1) examine the effects of establishing such limitation at
different dollar amounts; and
(2) examine the effects of such various limitations on--
(A) the risks to the General Insurance Fund
established under section 519 of such Act;
(B) the mortgage insurance premiums that would be
required to be charged to mortgagors to ensure actuarial
soundness of such Fund; and
(C) take into consideration the various approaches
to providing credit to borrowers who refinance home
equity conversion mortgages insured under section 255 of
such Act.
Not later than 180 days after the date of the enactment of this Act, the
Secretary shall complete the study under this subsection and submit a
report describing the study and the results of the study to the
Committee on Banking and Financial Services of the House of
Representatives and to the Committee on Banking, Housing, and Urban
Affairs of the Senate.
SEC. 202. <<NOTE: Deadline.>> ASSISTANCE FOR SELF-HELP HOUSING
PROVIDERS.
(a) Reauthorization.--Subsection (p) of section 11 of the Housing
Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is
amended to read as follows:
``(p) Authorization of Appropriations.--There are authorized to be
appropriated to carry out this section such sums as may be necessary for
fiscal year 2001.''.
(b) Eligible Expenses.--Section 11(d)(2)(A) of the Housing
Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is
amended by inserting before the period at the end the following: ``,
which may include reimbursing an organization, consortium, or affiliate,
upon approval of any required environmental review, for nongrant amounts
of the organization, consortium, or affiliate advanced before such
review to acquire land''.
[[Page 114 STAT. 2952]]
(c) Deadline for Recapture of Funds.--Section 11 of the Housing
Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is
amended--
(1) in subsection (i)(5)--
(A) by striking ``if the organization or consortia
has not used any grant amounts'' and inserting ``the
Secretary shall recapture any grant amounts provided to
the organization or consortia that are not used'';
(B) by striking ``(or,'' and inserting ``, except
that such period shall be 36 months''; and
(C) by striking ``within 36 months), the Secretary
shall recapture such unused amounts'' and inserting
``and in the case of a grant amounts provided to a local
affiliate of the organization or consortia that is
developing five or more dwellings in connection with
such grant amounts''; and
(2) in subsection ( j), by inserting after ``carry out this
section'' the following: ``and grant amounts provided to a local
affiliate of the organization or consortia that is developing
five or more dwellings in connection with such grant amounts''.
(d) Technical Corrections.--Section 11 of the Housing Opportunity
Program Extension Act of 1996 (42 U.S.C. 12805 note) is amended--
(1) in subsection (b)(4), by striking ``Habitat for Humanity
International, its affiliates, and other''; and
(2) in subsection (e)(2), by striking ``consoria'' and
inserting ``consortia''.
TITLE III--SECTION 8 HOMEOWNERSHIP OPTION
SEC. 301. DOWNPAYMENT ASSISTANCE.
(a) Amendments.--Section 8(y) of the United States Housing Act of
1937 (42 U.S.C. 1437f(y)) is amended--
(1) by redesignating paragraph (7) as paragraph (8); and
(2) by inserting after paragraph (6) the following new
paragraph:
``(7) Downpayment assistance.--
``(A) Authority.--A public housing agency may, in
lieu of providing monthly assistance payments under this
subsection on behalf of a family eligible for such
assistance and at the discretion of the public housing
agency, provide assistance for the family in the form of
a single grant to be used only as a contribution toward
the downpayment required in connection with the purchase
of a dwelling for fiscal year 2000 and each fiscal year
thereafter to the extent provided in advance in
appropriations Acts.
``(B) Amount.--The amount of a downpayment grant on
behalf of an assisted family may not exceed the amount
that is equal to the sum of the assistance payments that
would be made during the first year of assistance on
behalf of the family, based upon the income of the
family at the time the grant is to be made.''.
(b) Effective <<NOTE: 42 USC 1437f note.>> Date.--The amendments
made by subsection (a) shall take effect immediately after the
amendments made by
[[Page 114 STAT. 2953]]
section 555(c) of the Quality Housing and Work Responsibility Act of
1998 take effect pursuant to such section.
SEC. 302. PILOT <<NOTE: 42 USC 1437f note.>> PROGRAM FOR HOMEOWNERSHIP
ASSISTANCE FOR DISABLED FAMILIES.
(a) In General.--A public housing agency providing tenant-based
assistance on behalf of an eligible family under section 8 of the United
States Housing Act of 1937 (42 U.S.C. 1437f ) may provide assistance for
a disabled family that purchases a dwelling unit (including a dwelling
unit under a lease-purchase agreement) that will be owned by one or more
members of the disabled family and will be occupied by the disabled
family, if the disabled family--
(1) purchases the dwelling unit before the expiration of the
3-year period beginning on the date that the Secretary first
implements the pilot program under this section;
(2) demonstrates that the disabled family has income from
employment or other sources (including public assistance), as
determined in accordance with requirements of the Secretary,
that is not less than twice the payment standard established by
the public housing agency (or such other amount as may be
established by the Secretary);
(3) except as provided by the Secretary, demonstrates at the
time the disabled family initially receives tenant-based
assistance under this section that one or more adult members of
the disabled family have achieved employment for the period as
the Secretary shall require;
(4) participates in a homeownership and housing counseling
program provided by the agency; and
(5) meets any other initial or continuing requirements
established by the public housing agency in accordance with
requirements established by the Secretary.
(b) Determination of Amount of Assistance.--
(1) In general.--
(A) Monthly expenses not exceeding payment
standard.--If the monthly homeownership expenses, as
determined in accordance with requirements established
by the Secretary, do not exceed the payment standard,
the monthly assistance payment shall be the amount by
which the homeownership expenses exceed the highest of
the following amounts, rounded to the nearest dollar:
(i) Thirty percent of the monthly adjusted
income of the disabled family.
(ii) Ten percent of the monthly income of the
disabled family.
(iii) If the disabled family is receiving
payments for welfare assistance from a public
agency, and a portion of those payments, adjusted
in accordance with the actual housing costs of the
disabled family, is specifically designated by
that agency to meet the housing costs of the
disabled family, the portion of those payments
that is so designated.
(B) Monthly expenses exceed payment standard.--If
the monthly homeownership expenses, as determined in
accordance with requirements established by the
Secretary, exceed the payment standard, the monthly
assistance payment shall be the amount by which the
applicable
[[Page 114 STAT. 2954]]
payment standard exceeds the highest of the amounts
under clauses (i), (ii), and (iii) of subparagraph (A).
(2) Calculation of amount.--
(A) Low-income families.--A disabled family that is
a low-income family shall be eligible to receive 100
percent of the amount calculated under paragraph (1).
(B) Income between 81 and 89 percent of median.--A
disabled family whose income is between 81 and 89
percent of the median for the area shall be eligible to
receive 66 percent of the amount calculated under
paragraph (1).
(C) Income between 90 and 99 percent of median.--A
disabled family whose income is between 90 and 99
percent of the median for the area shall be eligible to
receive 33 percent of the amount calculated under
paragraph (1).
(D) Income more than 99 percent of median.--A
disabled family whose income is more than 99 percent of
the median for the area shall not be eligible to receive
assistance under this section.
(c) Inspections and Contract Conditions.--
(1) In general.--Each contract for the purchase of a
dwelling unit to be assisted under this section shall--
(A) provide for pre-purchase inspection of the
dwelling unit by an independent professional; and
(B) require that any cost of necessary repairs be
paid by the seller.
(2) Annual inspections not required.--The requirement under
subsection (o)(8)(A)(ii) of section 8 of the United States
Housing Act of 1937 for annual inspections shall not apply to
dwelling units assisted under this section.
(d) Other Authority of the Secretary.--The Secretary may--
(1) limit the term of assistance for a disabled family
assisted under this section;
(2) provide assistance for a disabled family for the entire
term of a mortgage for a dwelling unit if the disabled family
remains eligible for such assistance for such term; and
(3) modify the requirements of this section as the Secretary
determines to be necessary to make appropriate adaptations for
lease-purchase agreements.
(e) Assistance Payments Sent to Lender.--The Secretary shall remit
assistance payments under this section directly to the mortgagee of the
dwelling unit purchased by the disabled family receiving such assistance
payments.
(f ) Inapplicability of Certain Provisions.--Assistance under this
section shall not be subject to the requirements of the following
provisions:
(1) Subsection (c)(3)(B) of section 8 of the United States
Housing Act of 1937.
(2) Subsection (d)(1)(B)(i) of section 8 of the United
States Housing Act of 1937.
(3) Any other provisions of section 8 of the United States
Housing Act of 1937 governing maximum amounts payable to owners
and amounts payable by assisted families.
[[Page 114 STAT. 2955]]
(4) Any other provisions of section 8 of the United States
Housing Act of 1937 concerning contracts between public housing
agencies and owners.
(5) Any other provisions of the United States Housing Act of
1937 that are inconsistent with the provisions of this section.
(g) Reversion to Rental Status.--
(1) Non-fha mortgages.--If a disabled family receiving
assistance under this section defaults under a mortgage not
insured under the National Housing Act, the disabled family may
not continue to receive rental assistance under section 8 of the
United States Housing Act of 1937 unless it complies with
requirements established by the Secretary.
(2) All mortgages.--A disabled family receiving assistance
under this section that defaults under a mortgage may not
receive assistance under this section for occupancy of another
dwelling unit owned by one or more members of the disabled
family.
(3) Exception.--This subsection shall not apply if the
Secretary determines that the disabled family receiving
assistance under this section defaulted under a mortgage due to
catastrophic medical reasons or due to the impact of a federally
declared major disaster or emergency.
(h) Regulations.--Not later than <<NOTE: Deadline.>> 90 days after
the date of the enactment of this Act, the Secretary shall issue
regulations to implement this section. Such regulations may not prohibit
any public housing agency providing tenant-based assistance on behalf of
an eligible family under section 8 of the United States Housing Act of
1937 from participating in the pilot program under this section.
(i) Definition of Disabled Family.--For the purposes of this
section, the term ``disabled family'' has the meaning given the term
``person with disabilities'' in section 811(k)(2) of the Cranston-
Gonzalez National Affordable Housing Act (42 U.S.C. 8013(k)(2)).
SEC. 303. FUNDING FOR PILOT PROGRAMS.
(a) Authorization of Appropriations.--There is authorized to be
appropriated such sums as may be necessary for fiscal year 2001 for
assistance in connection with the existing homeownership pilot programs
carried out under the demonstration program authorized under section
555(b) of the Quality Housing and Work Responsibility Act of 1998
(Public Law 105-276; 112 Stat. 2613).
(b) Use.--Subject to subsection (c), amounts made available pursuant
to this section shall be used only through such homeownership pilot
programs to provide, on behalf of families participating in such
programs, amounts for downpayments in connection with dwellings
purchased by such families using assistance made available under section
8(y) of the United States Housing Act of 1937 (42 U.S.C. 1437f(y)). No
such downpayment grant may exceed 20 percent of the appraised value of
the dwelling purchased with assistance under such section 8(y).
(c) Matching Requirement.--The amount of assistance made available
under this section for any existing homeownership pilot program may not
exceed twice the amount donated from sources other than this section for
use under the program for assistance described in subsection (b).
Amounts donated from other sources
[[Page 114 STAT. 2956]]
may include amounts from State housing finance agencies and Neighborhood
Housing Services of America.
TITLE IV--PRIVATE <<NOTE: Private Mortgage Insurance Technical
Corrections and Clarification Act.>> MORTGAGE INSURANCE CANCELLATION AND
TERMINATION
SEC. 401. <<NOTE: 12 USC 4901 note.>> SHORT TITLE.
This title may be cited as the ``Private Mortgage Insurance
Technical Corrections and Clarification Act''.
SEC. 402. CHANGES IN AMORTIZATION SCHEDULE.
(a) Treatment of Adjustable Rate Mortgages.--The Homeowners
Protection Act of 1998 (12 U.S.C. 4901 et seq.) is amended--
(1) in section 2-- <<NOTE: 12 USC 4901.>>
(A) in paragraph (2)(B)(i), by striking
``amortization schedules'' and inserting ``the
amortization schedule then in effect'';
(B) in paragraph (16)(B), by striking ``amortization
schedules'' and inserting ``the amortization schedule
then in effect'';
(C) by redesignating paragraphs (6) through (16) (as
amended by the preceding provisions of this paragraph)
as paragraphs (8) through (18), respectively; and
(D) by inserting after paragraph (5) the following
new paragraph:
``(6) Amortization schedule then in effect.--The term
`amortization schedule then in effect' means, with respect to an
adjustable rate mortgage, a schedule established at the time at
which the residential mortgage transaction is consummated or, if
such schedule has been changed or recalculated, is the most
recent schedule under the terms of the note or mortgage, which
shows--
``(A) the amount of principal and interest that is
due at regular intervals to retire the principal balance
and accrued interest over the remaining amortization
period of the loan; and
``(B) the unpaid balance of the loan after each such
scheduled payment is made.''; and
(2) in section 3(f )(1)(B)(ii), <<NOTE: 12 USC 4902.>> by
striking ``amortization schedules'' and inserting ``the
amortization schedule then in effect''.
(b) Treatment of Balloon Mortgages.--Paragraph (1) of section 2 of
the Homeowners Protection Act of 1998 (12 U.S.C. 4901(1)) is amended by
adding at the end the following new sentence: ``A residential mortgage
that: (A) does not fully amortize over the term of the obligation; and
(B) contains a conditional right to refinance or modify the unamortized
principal at the maturity date of the term, shall be considered to be an
adjustable rate mortgage for purposes of this Act.''.
(c) Treatment of Loan Modifications.--
(1) In general.--Section 3 of the Homeowners Protection Act
of 1998 (12 U.S.C. 4902) is amended--
(A) by redesignating subsections (d) through (f ) as
subsections (e) through (g), respectively; and
[[Page 114 STAT. 2957]]
(B) by inserting after subsection (c) the following
new subsection:
``(d) Treatment of Loan Modifications.--If a mortgagor and mortgagee
(or holder of the mortgage) agree to a modification of the terms or
conditions of a loan pursuant to a residential mortgage transaction, the
cancellation date, termination date, or final termination shall be
recalculated to reflect the modified terms and conditions of such
loan.''.
(2) Conforming amendments.--Section 4(a) of the Homeowners
Protection Act of 1998 (12 U.S.C. 4903(a)) is amended--
(A) in paragraph (1)--
(i) in the matter preceding subparagraph (A),
by striking ``section 3(f )(1)'' and inserting
``section 3(g)(1)'';
(ii) in subparagraph (A)(ii)(IV), by striking
``section 3(f )'' and inserting ``section 3(g)'';
and
(iii) in subparagraph (B)(iii), by striking
``section 3(f )'' and inserting ``section 3(g)'';
and
(B) in paragraph (2), by striking ``section 3(f
)(1)'' and inserting ``section 3(g)(1)''.
SEC. 403. DELETION OF AMBIGUOUS REFERENCES TO RESIDENTIAL MORTGAGES.
(a) Termination of Private Mortgage Insurance.--Section 3 of the
Homeowners Protection Act of 1998 (12 U.S.C. 4902) is amended--
(1) in subsection (c), by inserting ``on residential
mortgage transactions'' after ``imposed''; and
(2) in subsection (g) (as so redesignated by the preceding
provisions of this title)--
(A) in paragraph (1), in the matter preceding
subparagraph (A), by striking ``mortgage or'';
(B) in paragraph (2), by striking ``mortgage or'';
and
(C) in paragraph (3), by striking ``mortgage or''
and inserting ``residential mortgage or residential''.
(b) Disclosure Requirements.--Section 4 of the Homeowners Protection
Act of 1998 (12 U.S.C. 4903(a)) is amended--
(1) in subsection (a)--
(A) in paragraph (1)--
(i) by striking ``mortgage or'' the first
place it appears; and
(ii) by striking ``mortgage or'' the second
place it appears and inserting ``residential'';
and
(B) in paragraph (2), by striking ``mortgage or''
and inserting ``residential'';
(2) in subsection (c), by striking ``paragraphs (1)(B) and
(3) of subsection (a)'' and inserting ``subsection (a)(3)''; and
(3) in subsection (d), by inserting before the period at the
end the following: ``, which disclosures shall relate to the
mortgagor's rights under this Act''.
(c) Disclosure Requirements for Lender-Paid Mortgage Insurance.--
Section 6 of the Homeowners Protection Act of 1998 (12 U.S.C. 4905) is
amended--
(1) in subsection (c)--
(A) in the matter preceding paragraph (1), by
striking ``a residential mortgage or''; and
(B) in paragraph (2), by inserting ``transaction''
after ``residential mortgage''; and
[[Page 114 STAT. 2958]]
(2) in subsection (d), by inserting ``transaction'' after
``residential mortgage''.
SEC. 404. CANCELLATION RIGHTS AFTER CANCELLATION DATE.
Section 3 of the Homeowners Protection Act of 1998 (12 U.S.C. 4902)
is amended--
(1) in subsection (a)--
(A) in the matter preceding paragraph (1), by
inserting after ``cancellation date'' the following:
``or any later date that the mortgagor fulfills all of
the requirements under paragraphs (1) through (4)'';
(B) in paragraph (2), by striking ``and'' at the
end;
(C) by redesignating paragraph (3) as paragraph (4);
and
(D) by inserting after paragraph (2) the following
new paragraph:
``(3) is current on the payments required by the terms of
the residential mortgage transaction; and''; and
(2) in subsection (e)(1)(B) (as so redesignated by the
preceding provisions of this title), by striking ``subsection
(a)(3)'' and inserting ``subsection (a)(4)''.
SEC. 405. CLARIFICATION OF CANCELLATION AND TERMINATION ISSUES AND
LENDER PAID MORTGAGE INSURANCE DISCLOSURE REQUIREMENTS.
(a) Good Payment History.--Section 2(4) of the Homeowners Protection
Act of 1998 (12 U.S.C. 4901(4)) is amended--
(1) in subparagraph (A)--
(A) by inserting ``the later of (i)'' before ``the
date''; and
(B) by inserting ``, or (ii) the date that the
mortgagor submits a request for cancellation under
section 3(a)(1)'' before the semicolon; and
(2) in subparagraph (B)--
(A) by inserting ``the later of (i)'' before ``the
date''; and
(B) by inserting ``, or (ii) the date that the
mortgagor submits a request for cancellation under
section 3(a)(1)'' before the period at the end.
(b) Automatic Termination.--Paragraph (2) of section 3(b) of the
Homeowners Protection Act of 1998 (12 U.S.C. 4902(b)(2)) is amended to
read as follows:
``(2) if the mortgagor is not current on the termination
date, on the first day of the first month beginning after the
date that the mortgagor becomes current on the payments required
by the terms of the residential mortgage transaction.''.
(c) Premium Payments.--Section 3 of the Homeowners Protection Act of
1998 (12 U.S.C. 4902) is amended by adding at the end the following new
subsection:
``(h) Accrued Obligation for Premium Payments.--The cancellation or
termination under this section of the private mortgage insurance of a
mortgagor shall not affect the rights of any mortgagee, servicer, or
mortgage insurer to enforce any obligation of such mortgagor for premium
payments accrued prior to the date on which such cancellation or
termination occurred.''.
[[Page 114 STAT. 2959]]
SEC. 406. DEFINITIONS.
(a) Refinanced.--Section 6(c)(1)(B)(ii) of the Homeowners Protection
Act of 1998 (12 U.S.C. 4905(c)(1)(B)(ii)) is amended by inserting after
``refinanced'' the following: ``(under the meaning given such term in
the regulations issued by the Board of Governors of the Federal Reserve
System to carry out the Truth in Lending Act (15 U.S.C. 1601 et
seq.))''.
(b) Midpoint of the Amortization Period.--Section 2 of the
Homeowners Protection Act of 1998 (12 U.S.C. 4901) is amended by
inserting after paragraph (6) (as added by the preceding provisions of
this title) the following new paragraph:
``(7) Midpoint of the amortization period.--The term
`midpoint of the amortization period' means, with respect to a
residential mortgage transaction, the point in time that is
halfway through the period that begins upon the first day of the
amortization period established at the time a residential
mortgage transaction is consummated and ends upon the completion
of the entire period over which the mortgage is scheduled to be
amortized.''.
(c) Original Value.--Section 2(12) of the Homeowners Protection Act
of 1998 (12 U.S.C. 4901(10)) (as so redesignated by the preceding
provisions of this title) is amended--
(1) by inserting ``transaction'' after ``a residential
mortgage''; and
(2) by adding at the end the following new sentence: ``In
the case of a residential mortgage transaction for refinancing
the principal residence of the mortgagor, such term means only
the appraised value relied upon by the mortgagee to approve the
refinance transaction.''.
(d) Principal Residence.--Section 2 of the Homeowners Protection Act
of 1998 (12 U.S.C. 4901) is amended--
(1) in paragraph (14) (as so redesignated by the preceding
provisions of this title) by striking ``primary'' and inserting
``principal''; and
(2) in paragraph (15) (as so redesignated by the preceding
provisions of this title) by striking ``primary'' and inserting
``principal''.
TITLE V--NATIVE AMERICAN HOMEOWNERSHIP
Subtitle A--Native American Housing
SEC. 501. <<NOTE: 25 USC 4043 note.>> LANDS TITLE REPORT COMMISSION.
(a) Establishment.--Subject to sums being provided in advance in
appropriations Acts, there is established a Commission to be known as
the Lands Title Report Commission (hereafter in this section referred to
as the ``Commission'') to facilitate home loan mortgages on Indian trust
lands. The Commission will be subject to oversight by the Committee on
Banking and Financial Services of the House of Representatives and the
Committee on Banking, Housing, and Urban Affairs of the Senate.
(b) Membership.--
[[Page 114 STAT. 2960]]
(1) Appointment.--The Commission shall be composed of 12
members, appointed not later than 90 days after the date of the
enactment of this Act as follows:
(A) Four members shall be appointed by the
President.
(B) Four members shall be appointed by the
Chairperson of the Committee on Banking and Financial
Services of the House of Representatives.
(C) Four members shall be appointed by the
Chairperson of the Committee on Banking, Housing, and
Urban Affairs of the Senate.
(2) Qualifications.--
(A) Members of tribes.--At all times, not less than
eight of the members of the Commission shall be members
of federally recognized Indian tribes.
(B) Experience in land title matters.--All members
of the Commission shall have experience in and knowledge
of land title matters relating to Indian trust lands.
(3) Chairperson.--The Chairperson of the Commission shall be
one of the members of the Commission appointed under paragraph
(1)(C), as elected by the members of the Commission.
(4) Vacancies.--Any vacancy on the Commission shall not
affect its powers, but shall be filled in the manner in which
the original appointment was made.
(5) Travel expenses.--Members of the Commission shall serve
without pay, but each member shall receive travel expenses,
including per diem in lieu of subsistence, in accordance with
sections 5702 and 5703 of title 5, United States Code.
(c) Initial Meeting.--The Chairperson of the Commission shall call
the initial meeting of the Commission. Such meeting shall be held within
30 days after the Chairperson of the Commission determines that sums
sufficient for the Commission to carry out its duties under this Act
have been appropriated for such purpose.
(d) Duties.--The Commission shall analyze the system of the Bureau
of Indian Affairs of the Department of the Interior for maintaining land
ownership records and title documents and issuing certified title status
reports relating to Indian trust lands and, pursuant to such analysis,
determine how best to improve or replace the system--
(1) to ensure prompt and accurate responses to requests for
title status reports;
(2) to eliminate any backlog of requests for title status
reports; and
(3) to ensure that the administration of the system will not
in any way impair or restrict the ability of Native Americans to
obtain conventional loans for purchase of residences located on
Indian trust lands, including any actions necessary to ensure
that the system will promptly be able to meet future demands for
certified title status reports, taking into account the
anticipated complexity and volume of such requests.
(e) Report.--Not later <<NOTE: Deadline.>> than the date of the
termination of the Commission under subsection (h), the Commission shall
submit a report to the Committee on Banking and Financial Services of
the House of Representatives and the Committee on Banking, Housing, and
Urban Affairs of the Senate describing the analysis and determinations
made pursuant to subsection (d).
[[Page 114 STAT. 2961]]
(f ) Powers.--
(1) Hearings and sessions.--The Commission may, for the
purpose of carrying out this section, hold hearings, sit and act
at times and places, take testimony, and receive evidence as the
Commission considers appropriate.
(2) Staff of federal agencies.--Upon request of the
Commission, the head of any Federal department or agency may
detail, on a reimbursable basis, any of the personnel of that
department or agency to the Commission to assist it in carrying
out its duties under this section.
(3) Obtaining official data.--The Commission may secure
directly from any department or agency of the United States
information necessary to enable it to carry out this section.
Upon request of the Chairperson of the Commission, the head of
that department or agency shall furnish that information to the
Commission.
(4) Mails.--The Commission may use the United States mails
in the same manner and under the same conditions as other
departments and agencies of the United States.
(5) Administrative support services.--Upon the request of
the Commission, the Administrator of General Services shall
provide to the Commission, on a reimbursable basis, the
administrative support services necessary for the Commission to
carry out its duties under this section.
(6) Staff.--The Commission may appoint personnel as it
considers appropriate, subject to the provisions of title 5,
United States Code, governing appointments in the competitive
service, and shall pay such personnel in accordance with the
provisions of chapter 51 and subchapter III of chapter 53 of
that title relating to classification and General Schedule pay
rates.
(g) Authorization of Appropriations.--There is authorized to be
appropriated to carry out this section such sums as may be necessary,
and any amounts appropriated pursuant to this subsection shall remain
available until expended.
(h) Termination.--The Commission shall terminate 1 year after the
date of the initial meeting of the Commission.
SEC. 502. LOAN GUARANTEES.
Section 184(i) of the Housing and Community Development Act of 1992
(12 U.S.C. 1715z-13a(i)) is amended--
(1) in paragraph (5), by striking subparagraph (C) and
inserting the following new subparagraph:
``(C) Limitation on outstanding aggregate principal
amount.--Subject to the limitations in subparagraphs (A)
and (B), the Secretary may enter into commitments to
guarantee loans under this section in each fiscal year
with an aggregate outstanding principal amount not
exceeding such amount as may be provided in
appropriation Acts for such fiscal year.''; and
(2) in paragraph (7), by striking ``each of fiscal years
1997, 1998, 1999, 2000, and 2001'' and inserting ``each fiscal
year''.
SEC. 503. NATIVE AMERICAN HOUSING ASSISTANCE.
(a) Restriction on Waiver Authority.--
(1) In general.--Section 101(b)(2) of the Native American
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C.
4111(b)(2)) is amended by striking ``if the Secretary'' and all
that follows through the period at the end and inserting
[[Page 114 STAT. 2962]]
the following: ``for a period of not more than 90 days, if the
Secretary determines that an Indian tribe has not complied with,
or is unable to comply with, those requirements due to exigent
circumstances beyond the control of the Indian tribe.''.
(2) Local cooperation agreement.--Section 101(c) of the
Native American Housing Assistance and Self-Determination Act of
1996 (25 U.S.C. 4111(c)) is amended by adding at the end the
following: ``The Secretary may waive the requirements of this
subsection and subsection (d) if the recipient has made a good
faith effort to fulfill the requirements of this subsection and
subsection (d) and agrees to make payments in lieu of taxes to
the appropriate taxing authority in an amount consistent with
the requirements of subsection (d)(2) until such time as the
matter of making such payments has been resolved in accordance
with subsection (d).''.
(b) Assistance to Families That Are Not Low-Income.--Section 102(c)
of the Native American Housing Assistance and Self-Determination Act of
1996 (25 U.S.C. 4112(c)) is amended by adding at the end the following:
``(6) Certain families.--With respect to assistance provided
under section 201(b)(2) by a recipient to Indian families that
are not low-income families, evidence that there is a need for
housing for each such family during that period that cannot
reasonably be met without such assistance.''.
(c) Elimination of Waiver Authority for Small Tribes.--Section 102
of the Native American Housing Assistance and Self-Determination Act of
1996 (25 U.S.C. 4112) is amended--
(1) by striking subsection (f ); and
(2) by redesignating subsection (g) as subsection (f ).
(d) Environmental Compliance.--Section 105 of the Native American
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4115)
is amended by adding at the end the following:
``(d) Environmental Compliance.--The Secretary may waive the
requirements under this section if the Secretary determines that a
failure on the part of a recipient to comply with provisions of this
section--
``(1) will not frustrate the goals of the National
Environmental Policy Act of 1969 (42 U.S.C. 4331 et seq.) or any
other provision of law that furthers the goals of that Act;
``(2) does not threaten the health or safety of the
community involved by posing an immediate or long-term hazard to
residents of that community;
``(3) is a result of inadvertent error, including an
incorrect or incomplete certification provided under subsection
(c)(1); and
``(4) may be corrected through the sole action of the
recipient.''.
(e) Oversight.--
(1) Repayment.--Section 209 of the Native American Housing
Assistance and Self-Determination Act of 1996 (25 U.S.C. 4139)
is amended to read as follows:
``SEC. 209. NONCOMPLIANCE WITH AFFORDABLE HOUSING REQUIREMENT.
``If a recipient uses grant amounts to provide affordable housing
under this title, and at any time during the useful life of the housing
the recipient does not comply with the requirement under
[[Page 114 STAT. 2963]]
section 205(a)(2), the Secretary shall take appropriate action under
section 401(a).''.
(2) Audits and reviews.--Section 405 of the Native American
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C.
4165) is amended to read as follows:
``SEC. 405. REVIEW AND AUDIT BY SECRETARY.
``(a) Requirements Under Chapter 75 of Title 31, United States
Code.--An entity designated by an Indian tribe as a housing entity shall
be treated, for purposes of chapter 75 of title 31, United States Code,
as a non-Federal entity that is subject to the audit requirements that
apply to non-Federal entities under that chapter.
``(b) Additional Reviews and Audits.--
``(1) In general.--In addition to any audit or review under
subsection (a), to the extent the Secretary determines such
action to be appropriate, the Secretary may conduct an audit or
review of a recipient in order to--
``(A) determine whether the recipient--
``(i) has carried out--
``(I) eligible activities in a
timely manner; and
``(II) eligible activities and
certification in accordance with this
Act and other applicable law;
``(ii) has a continuing capacity to carry out
eligible activities in a timely manner; and
``(iii) is in compliance with the Indian
housing plan of the recipient; and
``(B) verify the accuracy of information contained
in any performance report submitted by the recipient
under section 404.
``(2) On-site visits.--To the extent practicable, the
reviews and audits conducted under this subsection shall include
on-site visits by the appropriate official of the Department of
Housing and Urban Development.
``(c) Review of Reports.--
``(1) In general.--The <<NOTE: Notice. Deadline.>> Secretary
shall provide each recipient that is the subject of a report
made by the Secretary under this section notice that the
recipient may review and comment on the report during a period
of not less than 30 days after the date on which notice is
issued under this paragraph.
``(2) Public availability.--After taking into consideration
any comments of the recipient under paragraph (1), the
Secretary--
``(A) may revise the report; and
``(B) not later than <<NOTE: Deadline.>> 30 days
after the date on which those comments are received,
shall make the comments and the report (with any
revisions made under subparagraph (A)) readily available
to the public.
``(d) Effect of Reviews.--Subject to section 401(a), after reviewing
the reports and audits relating to a recipient that are submitted to the
Secretary under this section, the Secretary may adjust the amount of a
grant made to a recipient under this Act in accordance with the findings
of the Secretary with respect to those reports and audits.''.
[[Page 114 STAT. 2964]]
(f ) Allocation Formula.--Section 302(d)(1) of the Native American
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C.
4152(d)(1)) is amended--
(1) by striking ``The formula,'' and inserting the
following:
``(A) In general.--Except with respect to an Indian
tribe described in subparagraph (B), the formula''; and
(2) by adding at the end the following:
``(B) Certain indian tribes.--With respect to fiscal
year 2001 and each fiscal year thereafter, for any
Indian tribe with an Indian housing authority that owns
or operates fewer than 250 public housing units, the
formula shall provide that if the amount provided for a
fiscal year in which the total amount made available for
assistance under this Act is equal to or greater than
the amount made available for fiscal year 1996 for
assistance for the operation and modernization of the
public housing referred to in subparagraph (A), then the
amount provided to that Indian tribe as modernization
assistance shall be equal to the average annual amount
of funds provided to the Indian tribe (other than funds
provided as emergency assistance) under the assistance
program under section 14 of the United States Housing
Act of 1937 (42 U.S.C. 1437l) for the period beginning
with fiscal year 1992 and ending with fiscal year
1997.''.
(g) Hearing Requirement.--Section 401(a) of the Native American
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C.
4161(a)) is amended--
(1) by redesignating paragraphs (1) through (4) as
subparagraphs (A) through (D), respectively, and realigning such
subparagraphs (as so redesignated) so as to be indented 4 ems
from the left margin;
(2) by striking ``Except as provided'' and inserting the
following:
``(1) In general.--Except as provided'';
(3) by striking ``If the Secretary takes an action under
paragraph (1), (2), or (3)'' and inserting the following:
``(2) Continuance of actions.--If the Secretary takes an
action under subparagraph (A), (B), or (C) of paragraph (1)'';
and
(4) by adding at the end the following:
``(3) Exception for certain actions.--
``(A) In general.--Notwithstanding any other
provision of this subsection, if the Secretary makes a
determination that the failure of a recipient of
assistance under this Act to comply substantially with
any material provision (as that term is defined by the
Secretary) of this Act is resulting, and would continue
to result, in a continuing expenditure of Federal funds
in a manner that is not authorized by law, the Secretary
may take an action described in paragraph (1)(C) before
conducting a hearing.
``(B) Procedural requirement.--If the Secretary
takes an action described in subparagraph (A), the
Secretary shall--
``(i) <<NOTE: Notice.>> provide notice to the
recipient at the time that the Secretary takes
that action; and
[[Page 114 STAT. 2965]]
``(ii) <<NOTE: Deadline.>> conduct a hearing
not later than 60 days after the date on which the
Secretary provides notice under clause (i).
``(C) Determination.--Upon completion of a hearing
under this paragraph, the Secretary shall make a
determination regarding whether to continue taking the
action that is the subject of the hearing, or take
another action under this subsection.''.
(h) Performance Agreement Time Limit.--Section 401(b) of the Native
American Housing Assistance and Self-Determination Act of 1996 (25
U.S.C. 4161(b)) is amended--
(1) by striking ``If the Secretary'' and inserting the
following:
``(1) In general.--If the Secretary'';
(2) by striking ``(1) is not'' and inserting the following:
``(A) is not'';
(3) by striking ``(2) is a result'' and inserting the
following:
``(B) is a result'';
(4) in the flush material following paragraph (1)(B), as
redesignated by paragraph (3) of this subsection--
(A) by realigning such material so as to be indented
2 ems from the left margin; and
(B) by inserting before the period at the end the
following: ``, if the recipient enters into a
performance agreement with the Secretary that specifies
the compliance objectives that the recipient will be
required to achieve by the termination date of the
performance agreement''; and
(5) by adding at the end the following:
``(2) Performance agreement.--The period of a performance
agreement described in paragraph (1) shall be for 1 year.
``(3) Review.--Upon the termination of a performance
agreement entered into under paragraph (1), the Secretary shall
review the performance of the recipient that is a party to the
agreement.
``(4) Effect of review.--If, on the basis of a review under
paragraph (3), the Secretary determines that the recipient--
``(A) has made a good faith effort to meet the
compliance objectives specified in the agreement, the
Secretary may enter into an additional performance
agreement for the period specified in paragraph (2); and
``(B) has failed to make a good faith effort to meet
applicable compliance objectives, the Secretary shall
determine the recipient to have failed to comply
substantially with this Act, and the recipient shall be
subject to an action under subsection (a).''.
(i) Labor Standards.--Section 104(b) of the Native American Housing
Assistance and Self-Determination Act of 1996 (25 U.S.C. 4114(b)) is
amended--
(1) in paragraph (1), by striking ``Davis-Bacon Act (40
U.S.C. 276a-276a-5)'' and inserting ``Act of March 3, 1931
(commonly known as the Davis-Bacon Act; chapter 411; 46 Stat.
1494; 40 U.S.C. 276a et seq.)''; and
(2) by adding at the end the following new paragraph:
``(3) Application of tribal laws.--Paragraph (1) shall not
apply to any contract or agreement for assistance, sale, or
lease pursuant to this Act, if such contract or agreement is
otherwise covered by one or more laws or regulations adopted
[[Page 114 STAT. 2966]]
by an Indian tribe that requires the payment of not less than
prevailing wages, as determined by the Indian tribe.''.
( j) Technical and Conforming Amendments.--
(1) Table of contents.--Section 1(b) of the Native American
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C.
4101 note) is amended in the table of contents--
(A) by striking the item relating to section 206;
and
(B) by striking the item relating to section 209 and
inserting the following:
``209. Noncompliance with affordable housing requirement.''.
(2) Certification of compliance with subsidy layering
requirements.--Section 206 of the Native American Housing
Assistance and Self-Determination Act of 1996 (25 U.S.C. 4136)
is repealed.
(3) Terminations.--Section 502(a) of the Native American
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C.
4181(a)) is amended by adding at the end the following: ``Any
housing that is the subject of a contract for tenant-based
assistance between the Secretary and an Indian housing authority
that is terminated under this section shall, for the following
fiscal year and each fiscal year thereafter, be considered to be
a dwelling unit under section 302(b)(1).''.
Subtitle B--Native <<NOTE: Hawaiian Homelands Homeownership Act of
2000.>> Hawaiian Housing
SEC. 511. <<NOTE: 25 USC 4101 note.>> SHORT TITLE.
This subtitle may be cited as the ``Hawaiian Homelands Homeownership
Act of 2000''.
SEC. 512. FINDINGS.
The Congress finds that--
(1) the <<NOTE: 25 USC 4221 note.>> United States has
undertaken a responsibility to promote the general welfare of
the United States by--
(A) employing its resources to remedy the unsafe and
unsanitary housing conditions and the acute shortage of
decent, safe, and sanitary dwellings for families of
lower income; and
(B) developing effective partnerships with
governmental and private entities to accomplish the
objectives referred to in subparagraph (A);
(2) the United States has a special responsibility for the
welfare of the Native peoples of the United States, including
Native Hawaiians;
(3) pursuant to the provisions of the Hawaiian Homes
Commission Act, 1920 (42 Stat. 108 et seq.), the United States
set aside 200,000 acres of land in the Federal territory that
later became the State of Hawaii in order to establish a
homeland for the native people of Hawaii--Native Hawaiians;
(4) despite the intent of Congress in 1920 to address the
housing needs of Native Hawaiians through the enactment of the
Hawaiian Homes Commission Act, 1920 (42 Stat. 108 et seq.),
Native Hawaiians eligible to reside on the Hawaiian home lands
have been foreclosed from participating in Federal housing
assistance programs available to all other eligible families in
the United States;
[[Page 114 STAT. 2967]]
(5) although Federal housing assistance programs have been
administered on a racially neutral basis in the State of Hawaii,
Native Hawaiians continue to have the greatest unmet need for
housing and the highest rates of overcrowding in the United
States;
(6) among the Native American population of the United
States, Native Hawaiians experience the highest percentage of
housing problems in the United States, as the percentage--
(A) of housing problems in the Native Hawaiian
population is 49 percent, as compared to--
(i) 44 percent for American Indian and Alaska
Native households in Indian country; and
(ii) 27 percent for all other households in
the United States; and
(B) overcrowding in the Native Hawaiian population
is 36 percent as compared to 3 percent for all other
households in the United States;
(7) among the Native Hawaiian population, the needs of
Native Hawaiians, as that term is defined in section 801 of the
Native American Housing Assistance and Self-Determination Act of
1996 (as added by this subtitle), eligible to reside on the
Hawaiian Home Lands are the most severe, as--
(A) the percentage of overcrowding in Native
Hawaiian households on the Hawaiian Home Lands is 36
percent; and
(B) approximately 13,000 Native Hawaiians, which
constitute 95 percent of the Native Hawaiians who are
eligible to reside on the Hawaiian Home Lands, are in
need of housing;
(8) applying the Department of Housing and Urban Development
guidelines--
(A) 70.8 percent of Native Hawaiians who either
reside or who are eligible to reside on the Hawaiian
Home Lands have incomes that fall below the median
family income; and
(B) 50 percent of Native Hawaiians who either reside
or who are eligible to reside on the Hawaiian Home Lands
have incomes below 30 percent of the median family
income;
(9) one-third of those Native Hawaiians who are eligible to
reside on the Hawaiian Home Lands pay more than 30 percent of
their income for shelter, and one-half of those Native Hawaiians
face overcrowding;
(10) the extraordinarily severe housing needs of Native
Hawaiians demonstrate that Native Hawaiians who either reside
on, or are eligible to reside on, Hawaiian Home Lands have been
denied equal access to Federal low-income housing assistance
programs available to other qualified residents of the United
States, and that a more effective means of addressing their
housing needs must be authorized;
(11) consistent with the recommendations of the National
Commission on American Indian, Alaska Native, and Native
Hawaiian Housing, and in order to address the continuing
prevalence of extraordinarily severe housing needs among Native
Hawaiians who either reside or are eligible to reside on the
Hawaiian Home Lands, Congress finds it necessary to extend the
Federal low-income housing assistance available
[[Page 114 STAT. 2968]]
to American Indians and Alaska Natives under the Native American
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C.
4101 et seq.) to those Native Hawaiians;
(12) under the treatymaking power of the United States,
Congress had the constitutional authority to confirm a treaty
between the United States and the government that represented
the Hawaiian people, and from 1826 until 1893, the United States
recognized the independence of the Kingdom of Hawaii, extended
full diplomatic recognition to the Hawaiian Government, and
entered into treaties and conventions with the Hawaiian monarchs
to govern commerce and navigation in 1826, 1842, 1849, 1875, and
1887;
(13) the United States has recognized and reaffirmed that--
(A) Native Hawaiians have a cultural, historic, and
land-based link to the indigenous people who exercised
sovereignty over the Hawaiian Islands, and that group
has never relinquished its claims to sovereignty or its
sovereign lands;
(B) Congress does not extend services to Native
Hawaiians because of their race, but because of their
unique status as the indigenous people of a once
sovereign nation as to whom the United States has
established a trust relationship;
(C) Congress has also delegated broad authority to
administer a portion of the Federal trust responsibility
to the State of Hawaii;
(D) the political status of Native Hawaiians is
comparable to that of American Indians and Alaska
Natives; and
(E) the aboriginal, indigenous people of the United
States have--
(i) a continuing right to autonomy in their
internal affairs; and
(ii) an ongoing right of self-determination
and self-governance that has never been
extinguished;
(14) the political relationship between the United States
and the Native Hawaiian people has been recognized and
reaffirmed by the United States as evidenced by the inclusion of
Native Hawaiians in--
(A) the Native American Programs Act of 1974 (42
U.S.C. 2291 et seq.);
(B) the American Indian Religious Freedom Act (42
U.S.C. 1996 et seq.);
(C) the National Museum of the American Indian Act
(20 U.S.C. 80q et seq.);
(D) the Native American Graves Protection and
Repatriation Act (25 U.S.C. 3001 et seq.);
(E) the National Historic Preservation Act (16
U.S.C. 470 et seq.);
(F) the Native American Languages Act of 1992 (106
Stat. 3434);
(G) the American Indian, Alaska Native and Native
Hawaiian Culture and Arts Development Act (20 U.S.C.
4401 et seq.);
(H) the Job Training Partnership Act (29 U.S.C. 1501
et seq.); and
[[Page 114 STAT. 2969]]
(I) the Older Americans Act of 1965 (42 U.S.C. 3001
et seq.); and
(15) in the area of housing, the United States has
recognized and reaffirmed the political relationship with the
Native Hawaiian people through--
(A) the enactment of the Hawaiian Homes Commission
Act, 1920 (42 Stat. 108 et seq.), which set aside
approximately 200,000 acres of public lands that became
known as Hawaiian Home Lands in the Territory of Hawaii
that had been ceded to the United States for
homesteading by Native Hawaiians in order to
rehabilitate a landless and dying people;
(B) the enactment of the Act entitled ``An Act to
provide for the admission of the State of Hawaii into
the Union'', approved March 18, 1959 (73 Stat. 4)--
(i) by ceding to the State of Hawaii title to
the public lands formerly held by the United
States, and mandating that those lands be held in
public trust, for the betterment of the conditions
of Native Hawaiians, as that term is defined in
section 201 of the Hawaiian Homes Commission Act,
1920 (42 Stat. 108 et seq.); and
(ii) by transferring the United States
responsibility for the administration of Hawaiian
Home Lands to the State of Hawaii, but retaining
the authority to enforce the trust, including the
exclusive right of the United States to consent to
any actions affecting the lands which comprise the
corpus of the trust and any amendments to the
Hawaiian Homes Commission Act, 1920 (42 Stat. 108
et seq.), enacted by the legislature of the State
of Hawaii affecting the rights of beneficiaries
under the Act;
(C) the authorization of mortgage loans insured by
the Federal Housing Administration for the purchase,
construction, or refinancing of homes on Hawaiian Home
Lands under the National Housing Act (Public Law 479;
73d Congress; 12 U.S.C. 1701 et seq.);
(D) authorizing Native Hawaiian representation on
the National Commission on American Indian, Alaska
Native, and Native Hawaiian Housing under Public Law
101-235;
(E) the inclusion of Native Hawaiians in the
definition under section 3764 of title 38, United States
Code, applicable to subchapter V of chapter 37 of title
38, United States Code (relating to a housing loan
program for Native American veterans); and
(F) the enactment of the Hawaiian Home Lands
Recovery Act (109 Stat. 357; 48 U.S.C. 491, note prec.)
which establishes a process for the conveyance of
Federal lands to the Department of Hawaiian Homes Lands
that are equivalent in value to lands acquired by the
United States from the Hawaiian Home Lands inventory.
SEC. 513. HOUSING ASSISTANCE.
The Native American Housing Assistance and Self-Determination Act of
1996 (25 U.S.C. 4101 et seq.) is amended by adding at the end the
following:
[[Page 114 STAT. 2970]]
``TITLE VIII--HOUSING ASSISTANCE FOR NATIVE HAWAIIANS
``SEC. 801. <<NOTE: 25 USC 4221.>> DEFINITIONS.
``In this title:
``(1) Department of hawaiian home lands; department.--The
term `Department of Hawaiian Home Lands' or `Department' means
the agency or department of the government of the State of
Hawaii that is responsible for the administration of the
Hawaiian Homes Commission Act, 1920 (42 Stat. 108 et seq.).
``(2) Director.--The term `Director' means the Director of
the Department of Hawaiian Home Lands.
``(3) Elderly families; near-elderly families.--
``(A) In general.--The term `elderly family' or
`near-elderly family' means a family whose head (or his
or her spouse), or whose sole member, is--
``(i) for an elderly family, an elderly
person; or
``(ii) for a near-elderly family, a near-
elderly person.
``(B) Certain families included.--The term `elderly
family' or `near-elderly family' includes--
``(i) two or more elderly persons or near-
elderly persons, as the case may be, living
together; and
``(ii) one or more persons described in clause
(i) living with one or more persons determined
under the housing plan to be essential to their
care or well-being.
``(4) Hawaiian home lands.--The term `Hawaiian Home Lands'
means lands that--
``(A) have the status as Hawaiian home lands under
section 204 of the Hawaiian Homes Commission Act, 1920
(42 Stat. 110); or
``(B) are acquired pursuant to that Act.
``(5) Housing area.--The term `housing area' means an area
of Hawaiian Home Lands with respect to which the Department of
Hawaiian Home Lands is authorized to provide assistance for
affordable housing under this Act.
``(6) Housing entity.--The term `housing entity' means the
Department of Hawaiian Home Lands.
``(7) Housing plan.--The term `housing plan' means a plan
developed by the Department of Hawaiian Home Lands.
``(8) Median income.--The term `median income' means, with
respect to an area that is a Hawaiian housing area, the greater
of--
``(A) the median income for the Hawaiian housing
area, which shall be determined by the Secretary; or
``(B) the median income for the State of Hawaii.
``(9) Native hawaiian.--The term `Native Hawaiian' means any
individual who is--
``(A) a citizen of the United States; and
``(B) a descendant of the aboriginal people, who,
prior to 1778, occupied and exercised sovereignty in the
area that currently constitutes the State of Hawaii, as
evidenced by--
``(i) genealogical records;
[[Page 114 STAT. 2971]]
``(ii) verification by kupuna (elders) or
kama'aina (long-term community residents); or
``(iii) birth records of the State of Hawaii.
``SEC. 802. <<NOTE: 25 USC 4222.>> BLOCK GRANTS FOR AFFORDABLE HOUSING
ACTIVITIES.
``(a) Grant Authority.--For each fiscal year, the Secretary shall
(to the extent amounts are made available to carry out this title) make
a grant under this title to the Department of Hawaiian Home Lands to
carry out affordable housing activities for Native Hawaiian families who
are eligible to reside on the Hawaiian Home Lands.
``(b) Plan Requirement.--
``(1) In general.--The Secretary may make a grant under this
title to the Department of Hawaiian Home Lands for a fiscal year
only if--
``(A) the Director has submitted to the Secretary a
housing plan for that fiscal year; and
``(B) the Secretary has determined under section 804
that the housing plan complies with the requirements of
section 803.
``(2) Waiver.--The Secretary may waive the applicability of
the requirements under paragraph (1), in part, if the Secretary
finds that the Department of Hawaiian Home Lands has not
complied or cannot comply with those requirements due to
circumstances beyond the control of the Department of Hawaiian
Home Lands.
``(c) Use of Affordable Housing Activities Under Plan.--Except as
provided in subsection (e), amounts provided under a grant under this
section may be used only for affordable housing activities under this
title that are consistent with a housing plan approved under section
804.
``(d) Administrative Expenses.--
``(1) In general.--The <<NOTE: Regulations.>> Secretary
shall, by regulation, authorize the Department of Hawaiian Home
Lands to use a percentage of any grant amounts received under
this title for any reasonable administrative and planning
expenses of the Department relating to carrying out this title
and activities assisted with those amounts.
``(2) Administrative and planning expenses.--The
administrative and planning expenses referred to in paragraph
(1) include--
``(A) costs for salaries of individuals engaged in
administering and managing affordable housing activities
assisted with grant amounts provided under this title;
and
``(B) expenses incurred in preparing a housing plan
under section 803.
``(e) Public-Private Partnerships.--The Director shall make all
reasonable efforts, consistent with the purposes of this title, to
maximize participation by the private sector, including nonprofit
organizations and for-profit entities, in implementing a housing plan
that has been approved by the Secretary under section 803.
``SEC. 803. <<NOTE: 25 USC 4223.>> HOUSING PLAN.
``(a) Plan Submission.--The Secretary shall--
``(1) require the Director to submit a housing plan under
this section for each fiscal year; and
``(2) provide for the review of each plan submitted under
paragraph (1).
[[Page 114 STAT. 2972]]
``(b) Five-Year Plan.--Each housing plan under this section shall--
``(1) be in a form prescribed by the Secretary; and
``(2) contain, with respect to the 5-year period beginning
with the fiscal year for which the plan is submitted, the
following information:
``(A) Mission statement.--A general statement of the
mission of the Department of Hawaiian Home Lands to
serve the needs of the low-income families to be served
by the Department.
``(B) Goals and objectives.--A statement of the
goals and objectives of the Department of Hawaiian Home
Lands to enable the Department to serve the needs
identified in subparagraph (A) during the period.
``(C) Activities plans.--An overview of the
activities planned during the period including an
analysis of the manner in which the activities will
enable the Department to meet its mission, goals, and
objectives.
``(c) One-Year Plan.--A housing plan under this section shall--
``(1) be in a form prescribed by the Secretary; and
``(2) contain the following information relating to the
fiscal year for which the assistance under this title is to be
made available:
``(A) Goals and objectives.--A statement of the
goals and objectives to be accomplished during the
period covered by the plan.
``(B) Statement of needs.--A statement of the
housing needs of the low-income families served by the
Department and the means by which those needs will be
addressed during the period covered by the plan,
including--
``(i) a description of the estimated housing
needs and the need for assistance for the low-
income families to be served by the Department,
including a description of the manner in which the
geographical distribution of assistance is
consistent with--
``(I) the geographical needs of
those families; and
``(II) needs for various categories
of housing assistance; and
``(ii) a description of the estimated housing
needs for all families to be served by the
Department.
``(C) Financial resources.--An operating budget for
the Department of Hawaiian Home Lands, in a form
prescribed by the Secretary, that includes--
``(i) an identification and a description of
the financial resources reasonably available to
the Department to carry out the purposes of this
title, including an explanation of the manner in
which amounts made available will be used to
leverage additional resources; and
``(ii) the uses to which the resources
described in clause (i) will be committed,
including--
``(I) eligible and required
affordable housing activities; and
``(II) administrative expenses.
[[Page 114 STAT. 2973]]
``(D) Affordable housing resources.--A statement of
the affordable housing resources currently available at
the time of the submittal of the plan and to be made
available during the period covered by the plan,
including--
``(i) a description of the significant
characteristics of the housing market in the State
of Hawaii, including the availability of housing
from other public sources, private market housing;
``(ii) the manner in which the characteristics
referred to in clause (i) influence the decision
of the Department of Hawaiian Home Lands to use
grant amounts to be provided under this title
for--
``(I) rental assistance;
``(II) the production of new units;
``(III) the acquisition of existing
units; or
``(IV) the rehabilitation of units;
``(iii) a description of the structure,
coordination, and means of cooperation between the
Department of Hawaiian Home Lands and any other
governmental entities in the development,
submission, or implementation of housing plans,
including a description of--
``(I) the involvement of private,
public, and nonprofit organizations and
institutions;
``(II) the use of loan guarantees
under section 184A of the Housing and
Community Development Act of 1992; and
``(III) other housing assistance
provided by the United States, including
loans, grants, and mortgage insurance;
``(iv) a description of the manner in which
the plan will address the needs identified
pursuant to subparagraph (C);
``(v) a description of--
``(I) any existing or anticipated
homeownership programs and rental
programs to be carried out during the
period covered by the plan; and
``(II) the requirements and
assistance available under the programs
referred to in subclause (I);
``(vi) a description of--
``(I) any existing or anticipated
housing rehabilitation programs
necessary to ensure the long-term
viability of the housing to be carried
out during the period covered by the
plan; and
``(II) the requirements and
assistance available under the programs
referred to in subclause (I);
``(vii) a description of--
``(I) all other existing or
anticipated housing assistance provided
by the Department of Hawaiian Home Lands
during the period covered by the plan,
including--
``(aa) transitional housing;
``(bb) homeless housing;
``(cc) college housing; and
``(dd) supportive services
housing; and
``(II) the requirements and
assistance available under such
programs;
[[Page 114 STAT. 2974]]
``(viii)(I) a description of any housing to be
demolished or disposed of;
``(II) a timetable for that demolition or
disposition; and
``(III) any other information required by the
Secretary with respect to that demolition or
disposition;
``(ix) a description of the manner in which
the Department of Hawaiian Home Lands will
coordinate with welfare agencies in the State of
Hawaii to ensure that residents of the affordable
housing will be provided with access to resources
to assist in obtaining employment and achieving
self-sufficiency;
``(x) a description of the requirements
established by the Department of Hawaiian Home
Lands to--
``(I) promote the safety of
residents of the affordable housing;
``(II) facilitate the undertaking of
crime prevention measures;
``(III) allow resident input and
involvement, including the establishment
of resident organizations; and
``(IV) allow for the coordination of
crime prevention activities between the
Department and local law enforcement
officials; and
``(xi) a description of the entities that will
carry out the activities under the plan, including
the organizational capacity and key personnel of
the entities.
``(E) Certification of compliance.--Evidence of
compliance that shall include, as appropriate--
``(i) a certification that the Department of
Hawaiian Home Lands will comply with--
``(I) title VI of the Civil Rights
Act of 1964 (42 U.S.C. 2000d et seq.) or
with the Fair Housing Act (42 U.S.C.
3601 et seq.) in carrying out this
title, to the extent that such title is
applicable; and
``(II) other applicable Federal
statutes;
``(ii) a certification that the Department
will require adequate insurance coverage for
housing units that are owned and operated or
assisted with grant amounts provided under this
title, in compliance with such requirements as may
be established by the Secretary;
``(iii) a certification that policies are in
effect and are available for review by the
Secretary and the public governing the
eligibility, admission, and occupancy of families
for housing assisted with grant amounts provided
under this title;
``(iv) a certification that policies are in
effect and are available for review by the
Secretary and the public governing rents charged,
including the methods by which such rents or
homebuyer payments are determined, for housing
assisted with grant amounts provided under this
title; and
``(v) a certification that policies are in
effect and are available for review by the
Secretary and the public
[[Page 114 STAT. 2975]]
governing the management and maintenance of
housing assisted with grant amounts provided under
this title.
``(d) Applicability of Civil Rights Statutes.--
``(1) In general.--To the extent that the requirements of
title VI of the Civil Rights Act of 1964 (42 U.S.C. 2000d et
seq.) or of the Fair Housing Act (42 U.S.C. 3601 et seq.) apply
to assistance provided under this title, nothing in the
requirements concerning discrimination on the basis of race
shall be construed to prevent the provision of assistance under
this title--
``(A) to the Department of Hawaiian Home Lands on
the basis that the Department served Native Hawaiians;
or
``(B) to an eligible family on the basis that the
family is a Native Hawaiian family.
``(2) Civil rights.--Program eligibility under this title
may be restricted to Native Hawaiians. Subject to the preceding
sentence, no person may be discriminated against on the basis of
race, color, national origin, religion, sex, familial status, or
disability.
``(e) Use of Nonprofit Organizations.--As a condition of receiving
grant amounts under this title, the Department of Hawaiian Home Lands
shall, to the extent practicable, provide for private nonprofit
organizations experienced in the planning and development of affordable
housing for Native Hawaiians to carry out affordable housing activities
with those grant amounts.
``SEC. 804. <<NOTE: 25 USC 4224.>> REVIEW OF PLANS.
``(a) Review and Notice.--
``(1) Review.--
``(A) In general.--The Secretary shall conduct a
review of a housing plan submitted to the Secretary
under section 803 to ensure that the plan complies with
the requirements of that section.
``(B) Limitation.--The Secretary shall have the
discretion to review a plan referred to in subparagraph
(A) only to the extent that the Secretary considers that
the review is necessary.
``(2) Notice.--
``(A) In general.--Not
later <<NOTE: Deadline.>> than 60 days after receiving a
plan under section 803, the Secretary shall notify the
Director of the Department of Hawaiian Home Lands
whether the plan complies with the requirements under
that section.
``(B) Effect of failure of secretary to take
action.--For purposes of this title, if the Secretary
does not notify the Director, as required under this
subsection and subsection (b), upon the expiration of
the 60-day period described in subparagraph (A)--
``(i) the plan shall be considered to have
been determined to comply with the requirements
under section 803; and
``(ii) the Director shall be considered to
have been notified of compliance.
``(b) Notice of Reasons for Determination of Noncompliance.--If the
Secretary determines that a plan submitted under
[[Page 114 STAT. 2976]]
section 803 does not comply with the requirements of that section, the
Secretary shall specify in the notice under subsection (a)--
``(1) the reasons for noncompliance; and
``(2) any modifications necessary for the plan to meet the
requirements of section 803.
``(c) Review.--
``(1) In general.--After the Director of the Department of
Hawaiian Home Lands submits a housing plan under section 803, or
any amendment or modification to the plan to the Secretary, to
the extent that the Secretary considers such action to be
necessary to make a determination under this subsection, the
Secretary shall review the plan (including any amendments or
modifications thereto) to determine whether the contents of the
plan--
``(A) set forth the information required by section
803 to be contained in the housing plan;
``(B) are consistent with information and data
available to the Secretary; and
``(C) are not prohibited by or inconsistent with any
provision of this Act or any other applicable law.
``(2) Incomplete plans.--If the Secretary determines under
this subsection that any of the appropriate certifications
required under section 803(c)(2)(E) are not included in a plan,
the plan shall be considered to be incomplete.
``(d) Updates to Plan.--
``(1) In general.--Subject to paragraph (2), after a plan
under section 803 has been submitted for a fiscal year, the
Director of the Department of Hawaiian Home Lands may comply
with the provisions of that section for any succeeding fiscal
year (with respect to information included for the 5-year period
under section 803(b) or for the 1-year period under section
803(c)) by submitting only such information regarding such
changes as may be necessary to update the plan previously
submitted.
``(2) Complete plans.--The Director shall submit a complete
plan under section 803 not later than 4 years after submitting
an initial plan under that section, and not less frequently than
every 4 years thereafter.
``(e) Effective Date.--This section and section 803 shall take
effect on the date provided by the Secretary pursuant to section 807(a)
to provide for timely submission and review of the housing plan as
necessary for the provision of assistance under this title for fiscal
year 2001.
``SEC. 805. <<NOTE: 25 USC 4225.>> TREATMENT OF PROGRAM INCOME AND LABOR
STANDARDS.
``(a) Program Income.--
``(1) Authority to retain.--The Department of Hawaiian Home
Lands may retain any program income that is realized from any
grant amounts received by the Department under this title if--
``(A) that income was realized after the initial
disbursement of the grant amounts received by the
Department; and
``(B) the Director agrees to use the program income
for affordable housing activities in accordance with the
provisions of this title.
[[Page 114 STAT. 2977]]
``(2) Prohibition of reduction of grant.--The Secretary may
not reduce the grant amount for the Department of Hawaiian Home
Lands based solely on--
``(A) whether the Department retains program income
under paragraph (1); or
``(B) the amount of any such program income
retained.
``(3) Exclusion of amounts.--The Secretary may, by
regulation, exclude from consideration as program income any
amounts determined to be so small that compliance with the
requirements of this subsection would create an unreasonable
administrative burden on the Department.
``(b) Labor Standards.--
``(1) In general.--Any contract or agreement for assistance,
sale, or lease pursuant to this title shall contain--
``(A) a provision requiring that an amount not less
than the wages prevailing in the locality, as determined
or adopted (subsequent to a determination under
applicable State or local law) by the Secretary, shall
be paid to all architects, technical engineers,
draftsmen, technicians employed in the development and
all maintenance, and laborers and mechanics employed in
the operation, of the affordable housing project
involved; and
``(B) a provision that an amount not less than the
wages prevailing in the locality, as predetermined by
the Secretary of Labor pursuant to the Act commonly
known as the `Davis-Bacon Act' (46 Stat. 1494; chapter
411; 40 U.S.C. 276a et seq.) shall be paid to all
laborers and mechanics employed in the development of
the affordable housing involved.
``(2) Exceptions.--Paragraph (1) and provisions relating to
wages required under paragraph (1) in any contract or agreement
for assistance, sale, or lease under this title, shall not apply
to any individual who performs the services for which the
individual volunteered and who is not otherwise employed at any
time in the construction work and received no compensation or is
paid expenses, reasonable benefits, or a nominal fee for those
services.
``SEC. 806. <<NOTE: 25 USC 4226.>> ENVIRONMENTAL REVIEW.
``(a) In General.--
``(1) Release of funds.--
``(A) In general.--The Secretary may carry out the
alternative environmental protection procedures
described in subparagraph (B) in order to ensure--
``(i) that the policies of the National
Environmental Policy Act of 1969 (42 U.S.C. 4321
et seq.) and other provisions of law that further
the purposes of such Act (as specified in
regulations issued by the Secretary) are most
effectively implemented in connection with the
expenditure of grant amounts provided under this
title; and
``(ii) to the public undiminished protection
of the environment.
``(B) Alternative environmental protection
procedure.--In lieu of applying environmental protection
procedures otherwise applicable, the Secretary may by
regulation provide for the release of funds for specific
projects to
[[Page 114 STAT. 2978]]
the Department of Hawaiian Home Lands if the Director of
the Department assumes all of the responsibilities for
environmental review, decisionmaking, and action under
the National Environmental Policy Act of 1969 (42 U.S.C.
4321 et seq.), and such other provisions of law as the
regulations of the Secretary specify, that would apply
to the Secretary were the Secretary to undertake those
projects as Federal projects.
``(2) Regulations.--
``(A) In general.--The Secretary shall issue
regulations to carry out this section only after
consultation with the Council on Environmental Quality.
``(B) Contents.--The regulations issued under this
paragraph shall--
``(i) provide for the monitoring of the
environmental reviews performed under this
section;
``(ii) in the discretion of the Secretary,
facilitate training for the performance of such
reviews; and
``(iii) provide for the suspension or
termination of the assumption of responsibilities
under this section.
``(3) Effect on assumed responsibility.--The duty of the
Secretary under paragraph (2)(B) shall not be construed to limit
or reduce any responsibility assumed by the Department of
Hawaiian Home Lands for grant amounts with respect to any
specific release of funds.
``(b) Procedure.--
``(1) In general.--The Secretary shall authorize the release
of funds subject to the procedures under this section only if,
not less than 15 days before that approval and before any
commitment of funds to such projects, the Director of the
Department of Hawaiian Home Lands submits to the Secretary a
request for such release accompanied by a certification that
meets the requirements of subsection (c).
``(2) Effect of approval.--The approval of the Secretary of
a certification described in paragraph (1) shall be deemed to
satisfy the responsibilities of the Secretary under the National
Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.) and
such other provisions of law as the regulations of the Secretary
specify to the extent that those responsibilities relate to the
releases of funds for projects that are covered by that
certification.
``(c) Certification.--A certification under the procedures under
this section shall--
``(1) be in a form acceptable to the Secretary;
``(2) be executed by the Director of the Department of
Hawaiian Home Lands;
``(3) specify that the Department of Hawaiian Home Lands has
fully carried out its responsibilities as described under
subsection (a); and
``(4) specify that the Director--
``(A) consents to assume the status of a responsible
Federal official under the National Environmental Policy
Act of 1969 (42 U.S.C. 4321 et seq.) and each provision
of law specified in regulations issued by the Secretary
to the extent that those laws apply by reason of
subsection (a); and
[[Page 114 STAT. 2979]]
``(B) is authorized and consents on behalf of the
Department of Hawaiian Home Lands and the Director to
accept the jurisdiction of the Federal courts for the
purpose of enforcement of the responsibilities of the
Director of the Department of Hawaiian Home Lands as
such an official.
``SEC. 807. <<NOTE: 25 USC 4227.>> REGULATIONS.
``The Secretary shall issue final regulations necessary to carry out
this title not later than October 1, 2001.
``SEC. 808. <<NOTE: 25 USC 4221 note.>> EFFECTIVE DATE.
``Except as otherwise expressly provided in this title, this title
shall take effect on the date of the enactment of the American
Homeownership and Economic Opportunity Act of 2000.
``SEC. 809. <<NOTE: 25 USC 4228.>> AFFORDABLE HOUSING ACTIVITIES.
``(a) National Objectives and Eligible Families.--
``(1) Primary objective.--The national objectives of this
title are--
``(A) to assist and promote affordable housing
activities to develop, maintain, and operate affordable
housing in safe and healthy environments for occupancy
by low-income Native Hawaiian families;
``(B) to ensure better access to private mortgage
markets and to promote self-sufficiency of low-income
Native Hawaiian families;
``(C) to coordinate activities to provide housing
for low-income Native Hawaiian families with Federal,
State, and local activities to further economic and
community development;
``(D) to plan for and integrate infrastructure
resources on the Hawaiian Home Lands with housing
development; and
``(E) to--
``(i) promote the development of private
capital markets; and
``(ii) allow the markets referred to in clause
(i) to operate and grow, thereby benefiting Native
Hawaiian communities.
``(2) Eligible families.--
``(A) In general.--Except as provided under
subparagraph (B), assistance for eligible housing
activities under this title shall be limited to low-
income Native Hawaiian families.
``(B) Exception to low-income requirement.--
``(i) In general.--The Director may provide
assistance for homeownership activities under--
``(I) section 810(b);
``(II) model activities under
section 810(f ); or
``(III) loan guarantee activities
under section 184A of the Housing and
Community Development Act of 1992 to
Native Hawaiian families who are not
low-income families, to the extent that
the Secretary approves the activities
under that section to address a need for
housing for those families that cannot
be reasonably met without that
assistance.
[[Page 114 STAT. 2980]]
``(ii) Limitations.--The Secretary shall
establish limitations on the amount of assistance
that may be provided under this title for
activities for families that are not low-income
families.
``(C) Other families.--Notwithstanding paragraph
(1), the Director may provide housing or housing
assistance provided through affordable housing
activities assisted with grant amounts under this title
to a family that is not composed of Native Hawaiians
if--
``(i) the Department determines that the
presence of the family in the housing involved is
essential to the well-being of Native Hawaiian
families; and
``(ii) the need for housing for the family
cannot be reasonably met without the assistance.
``(D) Preference.--
``(i) In general.--A housing plan submitted
under section 803 may authorize a preference, for
housing or housing assistance provided through
affordable housing activities assisted with grant
amounts provided under this title to be provided,
to the extent practicable, to families that are
eligible to reside on the Hawaiian Home Lands.
``(ii) Application.--In any case in which a
housing plan provides for preference described in
clause (i), the Director shall ensure that housing
activities that are assisted with grant amounts
under this title are subject to that preference.
``(E) Use of nonprofit organizations.--As a
condition of receiving grant amounts under this title,
the Department of Hawaiian Home Lands, shall to the
extent practicable, provide for private nonprofit
organizations experienced in the planning and
development of affordable housing for Native Hawaiians
to carry out affordable housing activities with those
grant amounts.
``SEC. 810. <<NOTE: 25 USC 4229.>> ELIGIBLE AFFORDABLE HOUSING
ACTIVITIES.
``(a) In General.--Affordable housing activities under this section
are activities conducted in accordance with the requirements of section
811 to--
``(1) develop or to support affordable housing for rental or
homeownership; or
``(2) provide housing services with respect to affordable
housing, through the activities described in subsection (b).
``(b) Activities.--The activities described in this subsection are
the following:
``(1) Development.--The acquisition, new construction,
reconstruction, or moderate or substantial rehabilitation of
affordable housing, which may include--
``(A) real property acquisition;
``(B) site improvement;
``(C) the development of utilities and utility
services;
``(D) conversion;
``(E) demolition;
``(F) financing;
``(G) administration and planning; and
``(H) other related activities.
[[Page 114 STAT. 2981]]
``(2) Housing services.--The provision of housing-related
services for affordable housing, including--
``(A) housing counseling in connection with rental
or homeownership assistance;
``(B) the establishment and support of resident
organizations and resident management corporations;
``(C) energy auditing;
``(D) activities related to the provisions of self-
sufficiency and other services; and
``(E) other services related to assisting owners,
tenants, contractors, and other entities participating
or seeking to participate in other housing activities
assisted pursuant to this section.
``(3) Housing management services.--The provision of
management services for affordable housing, including--
``(A) the preparation of work specifications;
``(B) loan processing;
``(C) inspections;
``(D) tenant selection;
``(E) management of tenant-based rental assistance;
and
``(F) management of affordable housing projects.
``(4) Crime prevention and safety activities.--The provision
of safety, security, and law enforcement measures and activities
appropriate to protect residents of affordable housing from
crime.
``(5) Model activities.--Housing activities under model
programs that are--
``(A) designed to carry out the purposes of this
title; and
``(B) specifically approved by the Secretary as
appropriate for the purpose referred to in subparagraph
(A).
``SEC. 811. <<NOTE: 25 USC 4230.>> PROGRAM REQUIREMENTS.
``(a) Rents.--
``(1) Establishment.--Subject to paragraph (2), as a
condition to receiving grant amounts under this title, the
Director shall develop written policies governing rents and
homebuyer payments charged for dwelling units assisted under
this title, including methods by which such rents and homebuyer
payments are determined.
``(2) Maximum rent.--In the case of any low-income family
residing in a dwelling unit assisted with grant amounts under
this title, the monthly rent or homebuyer payment (as
applicable) for that dwelling unit may not exceed 30 percent of
the monthly adjusted income of that family.
``(b) Maintenance and Efficient Operation.--
``(1) In general.--The Director shall, using amounts of any
grants received under this title, reserve and use for operating
under section 810 such amounts as may be necessary to provide
for the continued maintenance and efficient operation of such
housing.
``(2) Disposal of certain housing.--This subsection may not
be construed to prevent the Director, or any entity funded by
the Department, from demolishing or disposing of housing,
pursuant to regulations established by the Secretary.
[[Page 114 STAT. 2982]]
``(c) Insurance Coverage.--As a condition to receiving grant amounts
under this title, the Director shall require adequate insurance coverage
for housing units that are owned or operated or assisted with grant
amounts provided under this title.
``(d) Eligibility for Admission.--As a condition to receiving grant
amounts under this title, the Director shall develop written policies
governing the eligibility, admission, and occupancy of families for
housing assisted with grant amounts provided under this title.
``(e) Management and Maintenance.--As a condition to receiving grant
amounts under this title, the Director shall develop policies governing
the management and maintenance of housing assisted with grant amounts
under this title.
``SEC. 812. <<NOTE: 25 USC 4231.>> TYPES OF INVESTMENTS.
``(a) In General.--Subject to section 811 and an applicable housing
plan approved under section 803, the Director shall have--
``(1) the discretion to use grant amounts for affordable
housing activities through the use of--
``(A) equity investments;
``(B) interest-bearing loans or advances;
``(C) noninterest-bearing loans or advances;
``(D) interest subsidies;
``(E) the leveraging of private investments; or
``(F) any other form of assistance that the
Secretary determines to be consistent with the purposes
of this title; and
``(2) the right to establish the terms of assistance
provided with funds referred to in paragraph (1).
``(b) Investments.--The Director may invest grant amounts for the
purposes of carrying out affordable housing activities in investment
securities and other obligations, as approved by the Secretary.
``SEC. 813. <<NOTE: 25 USC 4232.>> LOW-INCOME REQUIREMENT AND INCOME
TARGETING.
``(a) In General.--Housing shall qualify for affordable housing for
purposes of this title only if--
``(1) each dwelling unit in the housing--
``(A) in the case of rental housing, is made
available for occupancy only by a family that is a low-
income family at the time of the initial occupancy of
that family of that unit; and
``(B) in the case of housing for homeownership, is
made available for purchase only by a family that is a
low-income family at the time of purchase; and
``(2) each dwelling unit in the housing will remain
affordable, according to binding commitments satisfactory to the
Secretary, for--
``(A) the remaining useful life of the property (as
determined by the Secretary) without regard to the term
of the mortgage or to transfer of ownership; or
``(B) such other period as the Secretary determines
is the longest feasible period of time consistent with
sound economics and the purposes of this title, except
upon a foreclosure by a lender (or upon other transfer
in lieu of foreclosure) if that action--
[[Page 114 STAT. 2983]]
``(i) recognizes any contractual or legal
rights of any public agency, nonprofit sponsor, or
other person or entity to take an action that
would--
``(I) avoid termination of low-
income affordability, in the case of
foreclosure; or
``(II) transfer ownership in lieu of
foreclosure; and
``(ii) is not for the purpose of avoiding low-
income affordability restrictions, as determined
by the Secretary.
``(b) Exception.--Notwithstanding subsection (a), housing assistance
pursuant to section 809(a)(2)(B) shall be considered affordable housing
for purposes of this title.
``SEC. 814. <<NOTE: 25 USC 4233.>> LEASE REQUIREMENTS AND TENANT
SELECTION.
``(a) Leases.--Except to the extent otherwise provided by or
inconsistent with the laws of the State of Hawaii, in renting dwelling
units in affordable housing assisted with grant amounts provided under
this title, the Director, owner, or manager shall use leases that--
``(1) do not contain unreasonable terms and conditions;
``(2) require the Director, owner, or manager to maintain
the housing in compliance with applicable housing codes and
quality standards;
``(3) require the Director, owner, or manager to give
adequate written notice of termination of the lease, which shall
be the period of time required under applicable State or local
law;
``(4) specify that, with respect to any notice of eviction
or termination, notwithstanding any State or local law, a
resident shall be informed of the opportunity, before any
hearing or trial, to examine any relevant documents, record, or
regulations directly related to the eviction or termination;
``(5) require that the Director, owner, or manager may not
terminate the tenancy, during the term of the lease, except for
serious or repeated violation of the terms and conditions of the
lease, violation of applicable Federal, State, or local law, or
for other good cause; and
``(6) provide that the Director, owner, or manager may
terminate the tenancy of a resident for any activity, engaged in
by the resident, any member of the household of the resident, or
any guest or other person under the control of the resident,
that--
``(A) threatens the health or safety of, or right to
peaceful enjoyment of the premises by, other residents
or employees of the Department, owner, or manager;
``(B) threatens the health or safety of, or right to
peaceful enjoyment of their premises by, persons
residing in the immediate vicinity of the premises; or
``(C) is criminal activity (including drug-related
criminal activity) on or off the premises.
``(b) Tenant or Homebuyer Selection.--As a condition to receiving
grant amounts under this title, the Director shall adopt and use written
tenant and homebuyer selection policies and criteria that--
``(1) are consistent with the purpose of providing housing
for low-income families;
[[Page 114 STAT. 2984]]
``(2) are reasonably related to program eligibility and the
ability of the applicant to perform the obligations of the
lease; and
``(3) provide for--
``(A) the selection of tenants and homebuyers from a
written waiting list in accordance with the policies and
goals set forth in an applicable housing plan approved
under section 803; and
``(B) the prompt notification in writing of any
rejected applicant of the grounds for that rejection.
``SEC. 815. <<NOTE: 25 USC 4234.>> REPAYMENT.
``If the Department of Hawaiian Home Lands uses grant amounts to
provide affordable housing under activities under this title and, at any
time during the useful life of the housing, the housing does not comply
with the requirement under section 813(a)(2), the Secretary shall--
``(1) reduce future grant payments on behalf of the
Department by an amount equal to the grant amounts used for that
housing (under the authority of section 819(a)(2)); or
``(2) require repayment to the Secretary of any amount equal
to those grant amounts.
``SEC. 816. <<NOTE: 25 USC 4235.>> ANNUAL ALLOCATION.
``For each fiscal year, the Secretary shall allocate any amounts
made available for assistance under this title for the fiscal year, in
accordance with the formula established pursuant to section 817 to the
Department of Hawaiian Home Lands if the Department complies with the
requirements under this title for a grant under this title.
``SEC. 817. <<NOTE: 25 USC 4236.>> ALLOCATION FORMULA.
``(a) Establishment.--The <<NOTE: Regulations.>> Secretary shall, by
regulation issued not later than the expiration of the 6-month period
beginning on the date of the enactment of the American Homeownership and
Economic Opportunity Act of 2000, in the manner provided under section
807, establish a formula to provide for the allocation of amounts
available for a fiscal year for block grants under this title in
accordance with the requirements of this section.
``(b) Factors for Determination of Need.--The formula under
subsection (a) shall be based on factors that reflect the needs for
assistance for affordable housing activities, including--
``(1) the number of low-income dwelling units owned or
operated at the time pursuant to a contract between the Director
and the Secretary;
``(2) the extent of poverty and economic distress and the
number of Native Hawaiian families eligible to reside on the
Hawaiian Home Lands; and
``(3) any other objectively measurable conditions that the
Secretary and the Director may specify.
``(c) Other Factors for Consideration.--In establishing the formula
under subsection (a), the Secretary shall consider the relative
administrative capacities of the Department of Hawaiian Home Lands and
other challenges faced by the Department, including--
``(1) geographic distribution within Hawaiian Home Lands;
and
``(2) technical capacity.
[[Page 114 STAT. 2985]]
``(d) Effective Date.--This section shall take effect on the date of
the enactment of the American Homeownership and Economic Opportunity Act
of 2000.
``SEC. 818. <<NOTE: 25 USC 4237.>> REMEDIES FOR NONCOMPLIANCE.
``(a) Actions by Secretary Affecting Grant Amounts.--
``(1) In general.--Except as provided in subsection (b), if
the Secretary finds after reasonable notice and opportunity for
a hearing that the Department of Hawaiian Home Lands has failed
to comply substantially with any provision of this title, the
Secretary shall--
``(A) terminate payments under this title to the
Department;
``(B) reduce payments under this title to the
Department by an amount equal to the amount of such
payments that were not expended in accordance with this
title; or
``(C) limit the availability of payments under this
title to programs, projects, or activities not affected
by such failure to comply.
``(2) Actions.--If the Secretary takes an action under
subparagraph (A), (B), or (C) of paragraph (1), the Secretary
shall continue that action until the Secretary determines that
the failure by the Department to comply with the provision has
been remedied by the Department and the Department is in
compliance with that provision.
``(b) Noncompliance Because of a Technical Incapacity.--The
Secretary may provide technical assistance for the Department, either
directly or indirectly, that is designed to increase the capability and
capacity of the Director of the Department to administer assistance
provided under this title in compliance with the requirements under this
title if the Secretary makes a finding under subsection (a), but
determines that the failure of the Department to comply substantially
with the provisions of this title--
``(1) is not a pattern or practice of activities
constituting willful noncompliance; and
``(2) is a result of the limited capability or capacity of
the Department of Hawaiian Home Lands.
``(c) Referral for Civil Action.--
``(1) Authority.--In lieu of, or in addition to, any action
that the Secretary may take under subsection (a), if the
Secretary has reason to believe that the Department of Hawaiian
Home Lands has failed to comply substantially with any provision
of this title, the Secretary may refer the matter to the
Attorney General of the United States with a recommendation that
an appropriate civil action be instituted.
``(2) Civil action.--Upon receiving a referral under
paragraph (1), the Attorney General may bring a civil action in
any United States district court of appropriate jurisdiction for
such relief as may be appropriate, including an action--
``(A) to recover the amount of the assistance
furnished under this title that was not expended in
accordance with this title; or
``(B) for mandatory or injunctive relief.
``(d) Review.--
``(1) In general.--If the Director receives notice under
subsection (a) of the termination, reduction, or limitation of
payments under this Act, the Director--
[[Page 114 STAT. 2986]]
``(A) may, <<NOTE: Deadline.>> not later than 60
days after receiving such notice, file with the United
States Court of Appeals for the Ninth Circuit, or in the
United States Court of Appeals for the District of
Columbia, a petition for review of the action of the
Secretary; and
``(B) upon the filing of any petition under
subparagraph (A), shall forthwith transmit copies of the
petition to the Secretary and the Attorney General of
the United States, who shall represent the Secretary in
the litigation.
``(2) Procedure.--
``(A) In general.--The Secretary shall file in the
court a record of the proceeding on which the Secretary
based the action, as provided in section 2112 of title
28, United States Code.
``(B) Objections.--No objection to the action of the
Secretary shall be considered by the court unless the
Department has registered the objection before the
Secretary.
``(3) Disposition.--
``(A) Court proceedings.--
``(i) Jurisdiction of court.--The court shall
have jurisdiction to affirm or modify the action
of the Secretary or to set the action aside in
whole or in part.
``(ii) Findings of fact.--If supported by
substantial evidence on the record considered as a
whole, the findings of fact by the Secretary shall
be conclusive.
``(iii) Addition.--The court may order
evidence, in addition to the evidence submitted
for review under this subsection, to be taken by
the Secretary, and to be made part of the record.
``(B) Secretary.--
``(i) In general.--The Secretary, by reason of
the additional evidence referred to in
subparagraph (A) and filed with the court--
``(I) may--
``(aa) modify the findings
of fact of the Secretary; or
``(bb) make new findings;
and
``(II) shall file--
``(aa) such modified or new
findings; and
``(bb) the recommendation of
the Secretary, if any, for the
modification or setting aside of
the original action of the
Secretary.
``(ii) Findings.--The findings referred to in
clause (i)(II)(bb) shall, with respect to a
question of fact, be considered to be conclusive
if those findings are--
``(I) supported by substantial
evidence on the record; and
``(II) considered as a whole.
``(4) Finality.--
``(A) In general.--Except as provided in
subparagraph (B), upon the filing of the record under
this subsection with the court--
``(i) the jurisdiction of the court shall be
exclusive; and
``(ii) the judgment of the court shall be
final.
[[Page 114 STAT. 2987]]
``(B) Review by supreme court.--A judgment under
subparagraph (A) shall be subject to review by the
Supreme Court of the United States upon writ of
certiorari or certification, as provided in section 1254
of title 28, United States Code.
``SEC. 819. <<NOTE: 25 USC 4238.>> MONITORING OF COMPLIANCE.
``(a) Enforceable Agreements.--
``(1) In general.--The Director, through binding contractual
agreements with owners or other authorized entities, shall
ensure long-term compliance with the provisions of this title.
``(2) Measures.--The measures referred to in paragraph (1)
shall provide for--
``(A) to the extent allowable by Federal and State
law, the enforcement of the provisions of this title by
the Department and the Secretary; and
``(B) remedies for breach of the provisions referred
to in paragraph (1).
``(b) Periodic Monitoring.--
``(1) In general.--Not less frequently than annually, the
Director shall review the activities conducted and housing
assisted under this title to assess compliance with the
requirements of this title.
``(2) Review.--Each review under paragraph (1) shall include
onsite inspection of housing to determine compliance with
applicable requirements.
``(3) Results.--The results of each review under paragraph
(1) shall be--
``(A) included in a performance report of the
Director submitted to the Secretary under section 820;
and
``(B) made available to the public.
``(c) Performance Measures.--The Secretary shall establish such
performance measures as may be necessary to assess compliance with the
requirements of this title.
``SEC. 820. <<NOTE: 25 USC 4239.>> PERFORMANCE REPORTS.
``(a) Requirement.--For each fiscal year, the Director shall--
``(1) review the progress the Department has made during
that fiscal year in carrying out the housing plan submitted by
the Department under section 803; and
``(2) submit a report to the Secretary (in a form acceptable
to the Secretary) describing the conclusions of the review.
``(b) Content.--Each report submitted under this section for a
fiscal year shall--
``(1) describe the use of grant amounts provided to the
Department of Hawaiian Home Lands for that fiscal year;
``(2) assess the relationship of the use referred to in
paragraph (1) to the goals identified in the housing plan;
``(3) indicate the programmatic accomplishments of the
Department; and
``(4) describe the manner in which the Department would
change its housing plan submitted under section 803 as a result
of its experiences.
``(c) Submissions.--The Secretary shall--
``(1) establish a date for submission of each report under
this section;
``(2) review each such report; and
[[Page 114 STAT. 2988]]
``(3) with respect to each such report, make recommendations
as the Secretary considers appropriate to carry out the purposes
of this title.
``(d) Public Availability.--
``(1) Comments by beneficiaries.--In preparing a report
under this section, the Director shall make the report publicly
available to the beneficiaries of the Hawaiian Homes Commission
Act, 1920 (42 Stat. 108 et seq.) and give a sufficient amount of
time to permit those beneficiaries to comment on that report
before it is submitted to the Secretary (in such manner and at
such time as the Director may determine).
``(2) Summary of comments.--The report shall include a
summary of any comments received by the Director from
beneficiaries under paragraph (1) regarding the program to carry
out the housing plan.
``SEC. 821. <<NOTE: 25 USC 4240.>> REVIEW AND AUDIT BY SECRETARY.
``(a) Annual Review.--
``(1) In general.--The Secretary shall, not less frequently
than on an annual basis, make such reviews and audits as may be
necessary or appropriate to determine whether--
``(A) the Director has--
``(i) carried out eligible activities under
this title in a timely manner;
``(ii) carried out and made certifications in
accordance with the requirements and the primary
objectives of this title and with other applicable
laws; and
``(iii) a continuing capacity to carry out the
eligible activities in a timely manner;
``(B) the Director has complied with the housing
plan submitted by the Director under section 803; and
``(C) the performance reports of the Department
under section 821 are accurate.
``(2) Onsite visits.--Each review conducted under this
section shall, to the extent practicable, include onsite visits
by employees of the Department of Housing and Urban Development.
``(b) Report by <<NOTE: Deadline.>> Secretary.--The Secretary shall
give the Department of Hawaiian Home Lands not less than 30 days to
review and comment on a report under this subsection. After taking into
consideration the comments of the Department, the Secretary may revise
the report and shall make the comments of the Department and the report
with any revisions, readily available to the public not later than 30
days after receipt of the comments of the Department.
``(c) Effect of Reviews.--The Secretary may make appropriate
adjustments in the amount of annual grants under this title in
accordance with the findings of the Secretary pursuant to reviews and
audits under this section. The Secretary may adjust, reduce, or withdraw
grant amounts, or take other action as appropriate in accordance with
the reviews and audits of the Secretary under this section, except that
grant amounts already expended on affordable housing activities may not
be recaptured or deducted from future assistance provided to the
Department of Hawaiian Home Lands.
[[Page 114 STAT. 2989]]
``SEC. 822. <<NOTE: 25 USC 4241.>> GENERAL ACCOUNTING OFFICE AUDITS.
``To the extent that the financial transactions of the Department of
Hawaiian Home Lands involving grant amounts under this title relate to
amounts provided under this title, those transactions may be audited by
the Comptroller General of the United States under such regulations as
may be prescribed by the Comptroller General. The Comptroller General of
the United States shall have access to all books, accounts, records,
reports, files, and other papers, things, or property belonging to or in
use by the Department of Hawaiian Home Lands pertaining to such
financial transactions and necessary to facilitate the audit.
``SEC. 823. <<NOTE: 42 USC 4242.>> REPORTS TO CONGRESS.
``(a) In General.--Not later than <<NOTE: Deadline.>> 90 days after
the conclusion of each fiscal year in which assistance under this title
is made available, the Secretary shall submit to Congress a report that
contains--
``(1) a description of the progress made in accomplishing
the objectives of this title;
``(2) a summary of the use of funds available under this
title during the preceding fiscal year; and
``(3) a description of the aggregate outstanding loan
guarantees under section 184A of the Housing and Community
Development Act of 1992.
``(b) Related Reports.--The Secretary may require the Director to
submit to the Secretary such reports and other information as may be
necessary in order for the Secretary to prepare the report required
under subsection (a).
``SEC. 824. <<NOTE: 25 USC 4243.>> AUTHORIZATION OF APPROPRIATIONS.
``There are authorized to be appropriated to the Department of
Housing and Urban Development for grants under this title such sums as
may be necessary for each of fiscal years 2001, 2002, 2003, 2004, and
2005.''.
SEC. 514. LOAN GUARANTEES.
Subtitle E of title I of the Housing and Community Development Act
of 1992 is amended by inserting after section 184 (12 U.S.C. 1715z-13a)
the following:
``SEC. 184A. <<NOTE: 12 USC 1715z-13b.>> LOAN GUARANTEES FOR NATIVE
HAWAIIAN HOUSING.
``(a) Definitions.--In this section:
``(1) Department of hawaiian home lands.--The term
`Department of Hawaiian Home Lands' means the agency or
department of the government of the State of Hawaii that is
responsible for the administration of the Hawaiian Homes
Commission Act, 1920 (42 Stat. 108 et seq.).
``(2) Eligible entity.--The term `eligible entity' means a
Native Hawaiian family, the Department of Hawaiian Home Lands,
the Office of Hawaiian Affairs, and private nonprofit or private
for-profit organizations experienced in the planning and
development of affordable housing for Native Hawaiians.
``(3) Family.--The term `family' means one or more persons
maintaining a household, as the Secretary shall by regulation
provide.
``(4) Guarantee fund.--The term `Guarantee Fund' means the
Native Hawaiian Housing Loan Guarantee Fund established under
subsection ( j).
[[Page 114 STAT. 2990]]
``(5) Hawaiian home lands.--The term `Hawaiian Home Lands'
means lands that--
``(A) have the status of Hawaiian Home Lands under
section 204 of the Hawaiian Homes Commission Act (42
Stat. 110); or
``(B) are acquired pursuant to that Act.
``(6) Native hawaiian.--The term `Native Hawaiian' means any
individual who is--
``(A) a citizen of the United States; and
``(B) a descendant of the aboriginal people, who,
prior to 1778, occupied and exercised sovereignty in the
area that currently constitutes the State of Hawaii, as
evidenced by--
``(i) genealogical records;
``(ii) verification by kupuna (elders) or
kama'aina (long-term community residents); or
``(iii) birth records of the State of Hawaii.
``(7) Office of hawaiian affairs.--The term `Office of
Hawaiian Affairs' means the entity of that name established
under the constitution of the State of Hawaii.
``(b) Authority.--To provide access to sources of private financing
to Native Hawaiian families who otherwise could not acquire housing
financing because of the unique legal status of the Hawaiian Home Lands
or as a result of a lack of access to private financial markets, the
Secretary may guarantee an amount not to exceed 100 percent of the
unpaid principal and interest that is due on an eligible loan under
subsection (c).
``(c) Eligible Loans.--Under this section, a loan is an eligible
loan if that loan meets the following requirements:
``(1) Eligible borrowers.--The loan is made only to a
borrower who is--
``(A) a Native Hawaiian family;
``(B) the Department of Hawaiian Home Lands;
``(C) the Office of Hawaiian Affairs; or
``(D) a private nonprofit organization experienced
in the planning and development of affordable housing
for Native Hawaiians.
``(2) Eligible housing.--
``(A) In general.--The loan will be used to
construct, acquire, or rehabilitate not more than 4-
family dwellings that are standard housing and are
located on Hawaiian Home Lands for which a housing plan
described in subparagraph (B) applies.
``(B) Housing plan.--A housing plan described in
this subparagraph is a housing plan that--
``(i) has been submitted and approved by the
Secretary under section 803 of the Native American
Housing Assistance and Self-Determination Act of
1996; and
``(ii) provides for the use of loan guarantees
under this section to provide affordable
homeownership housing on Hawaiian Home Lands.
``(3) Security.--The loan may be secured by any collateral
authorized under applicable Federal or State law.
``(4) Lenders.--
[[Page 114 STAT. 2991]]
``(A) In general.--The loan shall be made only by a
lender approved by, and meeting qualifications
established by, the Secretary, including any lender
described in subparagraph (B), except that a loan
otherwise insured or guaranteed by an agency of the
Federal Government or made by the Department of Hawaiian
Home Lands from amounts borrowed from the United States
shall not be eligible for a guarantee under this
section.
``(B) Approval.--The following lenders shall be
considered to be lenders that have been approved by the
Secretary:
``(i) Any mortgagee approved by the Secretary
for participation in the single family mortgage
insurance program under title II of the National
Housing Act (12 U.S.C.A. 1707 et seq.).
``(ii) Any lender that makes housing loans
under chapter 37 of title 38, United States Code,
that are automatically guaranteed under section
3702(d) of title 38, United States Code.
``(iii) Any lender approved by the Secretary
of Agriculture to make guaranteed loans for single
family housing under the Housing Act of 1949 (42
U.S.C.A. 1441 et seq.).
``(iv) Any other lender that is supervised,
approved, regulated, or insured by any agency of
the Federal Government.
``(5) Terms.--The loan shall--
``(A) be made for a term not exceeding 30 years;
``(B) bear interest (exclusive of the guarantee fee
under subsection (e) and service charges, if any) at a
rate agreed upon by the borrower and the lender and
determined by the Secretary to be reasonable, but not to
exceed the rate generally charged in the area (as
determined by the Secretary) for home mortgage loans not
guaranteed or insured by any agency or instrumentality
of the Federal Government;
``(C) involve a principal obligation not exceeding--
``(i) 97.75 percent of the appraised value of
the property as of the date the loan is accepted
for guarantee (or 98.75 percent if the value of
the property is $50,000 or less); or
``(ii) the amount approved by the Secretary
under this section; and
``(D) involve a payment on account of the property--
``(i) in cash or its equivalent; or
``(ii) through the value of any improvements
to the property made through the skilled or
unskilled labor of the borrower, as the Secretary
shall provide.
``(d) Certificate of Guarantee.--
``(1) Approval process.--
``(A) In general.--Before the Secretary approves any
loan for guarantee under this section, the lender shall
submit the application for the loan to the Secretary for
examination.
``(B) Approval.--If the Secretary approves the
application submitted under subparagraph (A), the
Secretary shall
[[Page 114 STAT. 2992]]
issue a certificate under this subsection as evidence of
the loan guarantee approved.
``(2) Standard for approval.--The Secretary may approve a
loan for guarantee under this section and issue a certificate
under this subsection only if the Secretary determines that
there is a reasonable prospect of repayment of the loan.
``(3) Effect.--
``(A) In general.--A certificate of guarantee issued
under this subsection by the Secretary shall be
conclusive evidence of the eligibility of the loan for
guarantee under this section and the amount of that
guarantee.
``(B) Evidence.--The evidence referred to in
subparagraph (A) shall be incontestable in the hands of
the bearer.
``(C) Full faith and credit.--The full faith and
credit of the United States is pledged to the payment of
all amounts agreed to be paid by the Secretary as
security for the obligations made by the Secretary under
this section.
``(4) Fraud and misrepresentation.--This subsection may not
be construed--
``(A) to preclude the Secretary from establishing
defenses against the original lender based on fraud or
material misrepresentation; or
``(B) to bar the Secretary from establishing by
regulations that are on the date of issuance or
disbursement, whichever is earlier, partial defenses to
the amount payable on the guarantee.
``(e) Guarantee Fee.--
``(1) In general.--The Secretary shall fix and collect a
guarantee fee for the guarantee of a loan under this section,
which may not exceed the amount equal to 1 percent of the
principal obligation of the loan.
``(2) Payment.--The fee under this subsection shall--
``(A) be paid by the lender at time of issuance of
the guarantee; and
``(B) be adequate, in the determination of the
Secretary, to cover expenses and probable losses.
``(3) Deposit.--The Secretary shall deposit any fees
collected under this subsection in the Native Hawaiian Housing
Loan Guarantee Fund established under subsection ( j).
``(f ) Liability Under Guarantee.--The liability under a guarantee
provided under this section shall decrease or increase on a pro rata
basis according to any decrease or increase in the amount of the unpaid
obligation under the provisions of the loan agreement involved.
``(g) Transfer and Assumption.--Notwithstanding any other provision
of law, any loan guaranteed under this section, including the security
given for the loan, may be sold or assigned by the lender to any
financial institution subject to examination and supervision by an
agency of the Federal Government or of any State or the District of
Columbia.
``(h) Disqualification of Lenders and Civil Money Penalties.--
``(1) In general.--
``(A) Grounds for action.--The Secretary may take
action under subparagraph (B) if the Secretary
determines
[[Page 114 STAT. 2993]]
that any lender or holder of a guarantee certificate
under subsection (d)--
``(i) has failed--
``(I) to maintain adequate
accounting records;
``(II) to service adequately loans
guaranteed under this section; or
``(III) to exercise proper credit or
underwriting judgment; or
``(ii) has engaged in practices otherwise
detrimental to the interest of a borrower or the
United States.
``(B) Actions.--Upon a determination by the
Secretary that a holder of a guarantee certificate under
subsection (d) has failed to carry out an activity
described in subparagraph (A)(i) or has engaged in
practices described in subparagraph (A)(ii), the
Secretary may--
``(i) refuse, either temporarily or
permanently, to guarantee any further loans made
by such lender or holder;
``(ii) bar such lender or holder from
acquiring additional loans guaranteed under this
section; and
``(iii) require that such lender or holder
assume not less than 10 percent of any loss on
further loans made or held by the lender or holder
that are guaranteed under this section.
``(2) Civil money penalties for intentional violations.--
``(A) In general.--The Secretary may impose a civil
monetary penalty on a lender or holder of a guarantee
certificate under subsection (d) if the Secretary
determines that the holder or lender has intentionally
failed--
``(i) to maintain adequate accounting records;
``(ii) to adequately service loans guaranteed
under this section; or
``(iii) to exercise proper credit or
underwriting judgment.
``(B) Penalties.--A civil monetary penalty imposed
under this paragraph shall be imposed in the manner and
be in an amount provided under section 536 of the
National Housing Act (12 U.S.C.A. 1735f-1) with respect
to mortgagees and lenders under that Act.
``(3) Payment on loans made in good faith.--Notwithstanding
paragraphs (1) and (2), if a loan was made in good faith, the
Secretary may not refuse to pay a lender or holder of a valid
guarantee on that loan, without regard to whether the lender or
holder is barred under this subsection.
``(i) Payment Under Guarantee.--
``(1) Lender options.--
``(A) In general.--
``(i) Notification.--If a borrower on a loan
guaranteed under this section defaults on the
loan, the holder of the guarantee certificate
shall provide written notice of the default to the
Secretary.
``(ii) Payment.--Upon providing the notice
required under clause (i), the holder of the
guarantee certificate
[[Page 114 STAT. 2994]]
shall be entitled to payment under the guarantee
(subject to the provisions of this section) and
may proceed to obtain payment in one of the
following manners:
``(I) Foreclosure.--
``(aa) In general.--The
holder of the certificate may
initiate foreclosure proceedings
(after providing written notice
of that action to the
Secretary).
``(bb) Payment.--Upon a
final order by the court
authorizing foreclosure and
submission to the Secretary of a
claim for payment under the
guarantee, the Secretary shall
pay to the holder of the
certificate the pro rata portion
of the amount guaranteed (as
determined pursuant to
subsection (f )) plus reasonable
fees and expenses as approved by
the Secretary.
``(cc) Subrogation.--The
rights of the Secretary shall be
subrogated to the rights of the
holder of the guarantee. The
holder shall assign the
obligation and security to the
Secretary.
``(II) No foreclosure.--
``(aa) In general.--Without
seeking foreclosure (or in any
case in which a foreclosure
proceeding initiated under
clause (i) continues for a
period in excess of 1 year), the
holder of the guarantee may
submit to the Secretary a
request to assign the obligation
and security interest to the
Secretary in return for payment
of the claim under the
guarantee. The Secretary may
accept assignment of the loan if
the Secretary determines that
the assignment is in the best
interest of the United States.
``(bb) Payment.--Upon
assignment, the Secretary shall
pay to the holder of the
guarantee the pro rata portion
of the amount guaranteed (as
determined under subsection (f
)).
``(cc) Subrogation.--The
rights of the Secretary shall be
subrogated to the rights of the
holder of the guarantee. The
holder shall assign the
obligation and security to the
Secretary.
``(B) Requirements.--Before any payment under a
guarantee is made under subparagraph (A), the holder of
the guarantee shall exhaust all reasonable possibilities
of collection. Upon payment, in whole or in part, to the
holder, the note or judgment evidencing the debt shall
be assigned to the United States and the holder shall
have no further claim against the borrower or the United
States. The Secretary shall then take such action to
collect as the Secretary determines to be appropriate.
``(2) Limitations on liquidation.--
``(A) In general.--If a borrower defaults on a loan
guaranteed under this section that involves a security
interest in restricted Hawaiian Home Land property, the
[[Page 114 STAT. 2995]]
mortgagee or the Secretary shall only pursue liquidation
after offering to transfer the account to another
eligible Hawaiian family or the Department of Hawaiian
Home Lands.
``(B) Limitation.--If, after action is taken under
subparagraph (A), the mortgagee or the Secretary
subsequently proceeds to liquidate the account, the
mortgagee or the Secretary shall not sell, transfer, or
otherwise dispose of or alienate the property described
in subparagraph (A) except to another eligible Hawaiian
family or to the Department of Hawaiian Home Lands.
``( j) Hawaiian Housing Loan Guarantee Fund.--
``(1) Establishment.--There is established in the Treasury
of the United States the Hawaiian Housing Loan Guarantee Fund
for the purpose of providing loan guarantees under this section.
``(2) Credits.--The Guarantee Fund shall be credited with--
``(A) any amount, claims, notes, mortgages,
contracts, and property acquired by the Secretary under
this section, and any collections and proceeds
therefrom;
``(B) any amounts appropriated pursuant to paragraph
(7);
``(C) any guarantee fees collected under subsection
(e); and
``(D) any interest or earnings on amounts invested
under paragraph (4).
``(3) Use.--Amounts in the Guarantee Fund shall be
available, to the extent provided in appropriations Acts, for--
``(A) fulfilling any obligations of the Secretary
with respect to loans guaranteed under this section,
including the costs (as that term is defined in section
502 of the Federal Credit Reform Act of 1990 (2 U.S.C.
661a)) of such loans;
``(B) paying taxes, insurance, prior liens, expenses
necessary to make fiscal adjustment in connection with
the application and transmittal of collections, and
other expenses and advances to protect the Secretary for
loans which are guaranteed under this section or held by
the Secretary;
``(C) acquiring such security property at
foreclosure sales or otherwise;
``(D) paying administrative expenses in connection
with this section; and
``(E) reasonable and necessary costs of
rehabilitation and repair to properties that the
Secretary holds or owns pursuant to this section.
``(4) Investment.--Any amounts in the Guarantee Fund
determined by the Secretary to be in excess of amounts currently
required at the time of the determination to carry out this
section may be invested in obligations of the United States.
``(5) Limitation on commitments to guarantee loans and
mortgages.--
``(A) Requirement of appropriations.--The authority
of the Secretary to enter into commitments to guarantee
loans under this section shall be effective for any
fiscal year to the extent, or in such amounts as are, or
have
[[Page 114 STAT. 2996]]
been, provided in appropriations Acts, without regard to
the fiscal year for which such amounts were
appropriated.
``(B) Limitations on costs of guarantees.--The
authority of the Secretary to enter into commitments to
guarantee loans under this section shall be effective
for any fiscal year only to the extent that amounts in
the Guarantee Fund are or have been made available in
appropriations Acts to cover the costs (as that term is
defined in section 502 of the Federal Credit Reform Act
of 1990 (2 U.S.C. 661a)) of such loan guarantees for
such fiscal year. Any amounts appropriated pursuant to
this subparagraph shall remain available until expended.
``(C) Limitation on outstanding aggregate principal
amount.--Subject to the limitations in subparagraphs (A)
and (B), the Secretary may enter into commitments to
guarantee loans under this section for each of fiscal
years 2001, 2002, 2003, 2004, and 2005 with an aggregate
outstanding principal amount not exceeding $100,000,000
for each such fiscal year.
``(6) Liabilities.--All liabilities and obligations of the
assets credited to the Guarantee Fund under paragraph (2)(A)
shall be liabilities and obligations of the Guarantee Fund.
``(7) Authorization of appropriations.--There are authorized
to be appropriated to the Guarantee Fund to carry out this
section such sums as may be necessary for each of fiscal years
2001, 2002, 2003, 2004, and 2005.
``(k) Requirements for Standard Housing.--
``(1) In general.--The <<NOTE: Regulations.>> Secretary
shall, by regulation, establish housing safety and quality
standards to be applied for use under this section.
``(2) Standards.--The standards referred to in paragraph (1)
shall--
``(A) provide sufficient flexibility to permit the
use of various designs and materials in housing acquired
with loans guaranteed under this section; and
``(B) require each dwelling unit in any housing
acquired in the manner described in subparagraph (A)
to--
``(i) be decent, safe, sanitary, and modest in
size and design;
``(ii) conform with applicable general
construction standards for the region in which the
housing is located;
``(iii) contain a plumbing system that--
``(I) uses a properly installed
system of piping;
``(II) includes a kitchen sink and a
partitional bathroom with lavatory,
toilet, and bath or shower; and
``(III) uses water supply, plumbing,
and sewage disposal systems that conform
to any minimum standards established by
the applicable county or State;
``(iv) contain an electrical system using
wiring and equipment properly installed to safely
supply electrical energy for adequate lighting and
for operation of appliances that conforms to any
appropriate county, State, or national code;
[[Page 114 STAT. 2997]]
``(v) be not less than the size provided under
the applicable locally adopted standards for size
of dwelling units, except that the Secretary, upon
request of the Department of Hawaiian Home Lands
may waive the size requirements under this
paragraph; and
``(vi) conform with the energy performance
requirements for new construction established by
the Secretary under section 526(a) of the National
Housing Act (12 U.S.C.A. 1735f-4), unless the
Secretary determines that the requirements are not
applicable.
``(l) Applicability of Civil Rights Statutes.--To the extent that
the requirements of title VI of the Civil Rights Act of 1964 (42 U.S.C.
2000d et seq.) or of the Fair Housing Act (42 U.S.C.A. 3601 et seq.)
apply to a guarantee provided under this subsection, nothing in the
requirements concerning discrimination on the basis of race shall be
construed to prevent the provision of the guarantee to an eligible
entity on the basis that the entity serves Native Hawaiian families or
is a Native Hawaiian family.''.
TITLE VI--MANUFACTURED <<NOTE: Manufactured Housing Improvement Act of
2000.>> HOUSING IMPROVEMENT
SEC. 601. <<NOTE: 42 USC 5401 note.>> SHORT TITLE; REFERENCES.
(a) Short Title.--This title may be cited as the ``Manufactured
Housing Improvement Act of 2000''.
(b) References.--Whenever in this title an amendment is expressed in
terms of an amendment to, or repeal of, a section or other provision,
the reference shall be considered to be made to that section or other
provision of the National Manufactured Housing Construction and Safety
Standards Act of 1974 (42 U.S.C. 5401 et seq.).
SEC. 602. FINDINGS AND PURPOSES.
Section 602 (42 U.S.C. 5401) is amended to read as follows:
``SEC. 602. FINDINGS AND PURPOSES.
``(a) Findings.--Congress finds that--
``(1) manufactured housing plays a vital role in meeting the
housing needs of the Nation; and
``(2) manufactured homes provide a significant resource for
affordable homeownership and rental housing accessible to all
Americans.
``(b) Purposes.--The purposes of this title are--
``(1) to protect the quality, durability, safety, and
affordability of manufactured homes;
``(2) to facilitate the availability of affordable
manufactured homes and to increase homeownership for all
Americans;
``(3) to provide for the establishment of practical,
uniform, and, to the extent possible, performance-based Federal
construction standards for manufactured homes;
``(4) to encourage innovative and cost-effective
construction techniques for manufactured homes;
``(5) to protect residents of manufactured homes with
respect to personal injuries and the amount of insurance costs
and property damages in manufactured housing, consistent with
the other purposes of this section;
[[Page 114 STAT. 2998]]
``(6) to establish a balanced consensus process for the
development, revision, and interpretation of Federal
construction and safety standards for manufactured homes and
related regulations for the enforcement of such standards;
``(7) to ensure uniform and effective enforcement of Federal
construction and safety standards for manufactured homes; and
``(8) to ensure that the public interest in, and need for,
affordable manufactured housing is duly considered in all
determinations relating to the Federal standards and their
enforcement.''.
SEC. 603. DEFINITIONS.
(a) In General.--Section 603 (42 U.S.C. 5402) is amended--
(1) in paragraph (2), by striking ``dealer'' and inserting
``retailer'';
(2) in paragraph (12), by striking ``and'' at the end;
(3) in paragraph (13), by striking the period at the end and
inserting a semicolon; and
(4) by adding at the end the following:
``(14) `administering organization' means the recognized,
voluntary, private sector, consensus standards body with
specific experience in developing model residential building
codes and standards involving all disciplines regarding
construction and safety that administers the consensus standards
through a development process;
``(15) `consensus committee' means the committee established
under section 604(a)(3);
``(16) `consensus standards development process' means the
process by which additions, revisions, and interpretations to
the Federal manufactured home construction and safety standards
and enforcement regulations shall be developed and recommended
to the Secretary by the consensus committee;
``(17) `primary inspection agency' means a State agency or
private organization that has been approved by the Secretary to
act as a design approval primary inspection agency or a
production inspection primary inspection agency, or both;
``(18) `design approval primary inspection agency' means a
State agency or private organization that has been approved by
the Secretary to evaluate and either approve or disapprove
manufactured home designs and quality control procedures;
``(19) `installation standards' means reasonable
specifications for the installation of a manufactured home, at
the place of occupancy, to ensure proper siting, the joining of
all sections of the home, and the installation of stabilization,
support, or anchoring systems;
``(20) `monitoring' means the process of periodic review of
the primary inspection agencies, by the Secretary or by a State
agency under an approved State plan pursuant to section 623, in
accordance with regulations promulgated under this title, giving
due consideration to the recommendations of the consensus
committee under section 604(b), which process shall be for the
purpose of ensuring that the primary inspection agencies are
discharging their duties under this title; and
``(21) `production inspection primary inspection agency'
means a State agency or private organization that has been
[[Page 114 STAT. 2999]]
approved by the Secretary to evaluate the ability of
manufactured home manufacturing plants to comply with approved
quality control procedures and with the Federal manufactured
home construction and safety standards promulgated hereunder,
including the inspection of homes in the plant.''.
(b) Conforming Amendments.--The National Manufactured Housing
Construction and Safety Standards Act of 1974 (42 U.S.C. 5401 et seq.)
is amended--
(1) in section 613 (42 U.S.C. 5412), by striking ``dealer''
each place it appears and inserting ``retailer'';
(2) in section 614(f ) (42 U.S.C. 5413(f )), by striking
``dealer'' each place it appears and inserting ``retailer'';
(3) in section 615 (42 U.S.C. 5414)--
(A) in subsection (b)(1), by striking ``dealer'' and
inserting ``retailer'';
(B) in subsection (b)(3), by striking ``dealer or
dealers'' and inserting ``retailer or retailers''; and
(C) in subsections (d) and (f ), by striking
``dealers'' each place it appears and inserting
``retailers'';
(4) in section 616 (42 U.S.C. 5415), by striking ``dealer''
and inserting ``retailer''; and
(5) in <<NOTE: 42 USC 5422.>> section 623(c)(9), by striking
``dealers'' and inserting ``retailers''.
SEC. 604. FEDERAL MANUFACTURED HOME CONSTRUCTION AND SAFETY STANDARDS.
Section 604 (42 U.S.C. 5403) is amended--
(1) by striking subsections (a) and (b) and inserting the
following:
``(a) Establishment.--
``(1) Authority.--The Secretary shall establish, by order,
appropriate Federal manufactured home construction and safety
standards, each of which--
``(A) shall--
``(i) be reasonable and practical;
``(ii) meet high standards of protection
consistent with the purposes of this title; and
``(iii) be performance-based and objectively
stated, unless clearly inappropriate; and
``(B) except as provided in subsection (b), shall be
established in accordance with the consensus standards
development process.
``(2) Consensus standards and regulatory development
process.--
``(A) Initial agreement.--Not later
than <<NOTE: Deadline.>> 180 days after the date of the
enactment of the Manufactured Housing Improvement Act of
2000, the Secretary shall enter into a contract with an
administering organization. The contractual agreement
shall--
``(i) terminate on the date on which a
contract is entered into under subparagraph (B);
and
``(ii) require the administering organization
to--
``(I) recommend the initial members
of the consensus committee under
paragraph (3);
``(II) administer the consensus
standards development process until the
termination of that agreement; and
[[Page 114 STAT. 3000]]
``(III) administer the consensus
development and interpretation process
for procedural and enforcement
regulations and regulations specifying
the permissible scope and conduct of
monitoring until the termination of that
agreement.
``(B) Competitively procured contract.--Upon the
expiration of the 4-year period beginning on the date on
which all members of the consensus committee are
appointed under paragraph (3), the Secretary shall,
using competitive procedures (as such term is defined in
section 4 of the Office of Federal Procurement Policy
Act), enter into a competitively awarded contract with
an administering organization. The administering
organization shall administer the consensus process for
the development and interpretation of the Federal
standards, the procedural and enforcement regulations,
and regulations specifying the permissible scope and
conduct of monitoring, in accordance with this title.
``(C) Performance review.--The Secretary--
``(i) shall periodically review the
performance of the administering organization; and
``(ii) may replace the administering
organization with another qualified technical or
building code organization, pursuant to
competitive procedures, if the Secretary
determines in writing that the administering
organization is not fulfilling the terms of the
agreement or contract to which the administering
organization is subject or upon the expiration of
the agreement or contract.
``(3) Consensus committee.--
``(A) Purpose.--There is established a committee to
be known as the `consensus committee', which shall, in
accordance with this title--
``(i) provide periodic recommendations to the
Secretary to adopt, revise, and interpret the
Federal manufactured housing construction and
safety standards in accordance with this
subsection;
``(ii) provide periodic recommendations to the
Secretary to adopt, revise, and interpret the
procedural and enforcement regulations, including
regulations specifying the permissible scope and
conduct of monitoring in accordance with
subsection (b);
``(iii) be organized and carry out its
business in a manner that guarantees a fair
opportunity for the expression and consideration
of various positions and for public participation;
and
``(iv) be deemed to be an advisory committee
not composed of Federal employees.
``(B) Membership.--The consensus committee shall be
composed of--
``(i) twenty-one voting members appointed by
the Secretary, after consideration of the
recommendations of the administering organization,
from among individuals who are qualified by
background and experience to participate in the
work of the consensus committee; and
[[Page 114 STAT. 3001]]
``(ii) one nonvoting member appointed by the
Secretary to represent the Secretary on the
consensus committee.
``(C) Disapproval.--The Secretary shall state, in
writing, the reasons for failing to appoint any
individual recommended under paragraph (2)(A)(ii)(I).
``(D) Selection procedures and requirements.--Each
member of the consensus committee shall be appointed in
accordance with selection procedures, which shall be
based on the procedures for consensus committees
promulgated by the American National Standards Institute
(or successor organization), except that the American
National Standards Institute interest categories shall
be modified for purposes of this paragraph to ensure
equal representation on the consensus committee of the
following interest categories:
``(i) Producers.--Seven producers or retailers
of manufactured housing.
``(ii) Users.--Seven persons representing
consumer interests, such as consumer
organizations, recognized consumer leaders, and
owners who are residents of manufactured homes.
``(iii) General interest and public
officials.--Seven general interest and public
official members.
``(E) Balancing of interests.--
``(i) In general.--In order to achieve a
proper balance of interests on the consensus
committee, the Secretary, in appointing the
members of the consensus committee--
``(I) shall ensure that all directly
and materially affected interests have
the opportunity for fair and equitable
participation without dominance by any
single interest; and
``(II) may reject the appointment of
any one or more individuals in order to
ensure that there is not dominance by
any single interest.
``(ii) Dominance defined.--In this
subparagraph, the term `dominance' means a
position or exercise of dominant authority,
leadership, or influence by reason of superior
leverage, strength, or representation.
``(F) Additional qualifications.--
``(i) Financial independence.--No individual
appointed under subparagraph (D)(ii) shall have,
and three of the individuals appointed under
subparagraph (D)(iii) shall not have--
``(I) a significant financial
interest in any segment of the
manufactured housing industry; or
``(II) a significant relationship to
any person engaged in the manufactured
housing industry.
``(ii) Post-employment ban.--Each individual
described in clause (i) shall be subject to a ban
disallowing compensation from the manufactured
housing industry during the period of, and during
the 1-year following, the membership of the
individual on the consensus committee.
``(G) Meetings.--
[[Page 114 STAT. 3002]]
``(i) Notice; open to public.--The consensus
committee shall provide advance notice of each
meeting of the consensus committee to the
Secretary and cause to be published in the Federal
Register advance notice of each such meeting. All
meetings of the consensus committee shall be open
to the public.
``(ii) Reimbursement.--Members of the
consensus committee in attendance at meetings of
the consensus committee shall be reimbursed for
their actual expenses as authorized by section
5703 of title 5, United States Code, for persons
employed intermittently in Government service.
``(H) Administration.--The consensus committee and
the administering organization shall--
``(i) operate in conformance with the
procedures established by the American National
Standards Institute for the development and
coordination of American National Standards; and
``(ii) apply to the American National
Standards Institute and take such other actions as
may be necessary to obtain accreditation from the
American National Standards Institute.
``(I) Staff and technical support.--The
administering organization shall, upon the request of
the consensus committee--
``(i) provide reasonable staff resources to
the consensus committee; and
``(ii) furnish technical support in a timely
manner to any of the interest categories described
in subparagraph (D) represented on the consensus
committee, if--
``(I) the support is necessary to
ensure the informed participation of the
consensus committee members; and
``(II) the costs of providing the
support are reasonable.
``(J) Date of
initial <<NOTE: Deadline.>> appointments.--The initial
appointments of all the members of the consensus
committee shall be completed not later than 90 days
after the date on which a contractual agreement under
paragraph (2)(A) is entered into with the administering
organization.
``(4) Revisions of standards.--
``(A) In general.--Beginning on the date on which
all members of the consensus committee are appointed
under paragraph (3), the consensus committee shall, not
less than once during each 2-year period--
``(i) consider revisions to the Federal
manufactured home construction and safety
standards; and
``(ii) submit proposed revised standards, if
approved in a vote of the consensus committee by
two-thirds of the members, to the Secretary in the
form of a proposed rule, including an economic
analysis.
``(B) Publication of proposed revised standards.--
``(i) Publication by <<NOTE: Federal Register,
publication. Deadline.>> the secretary.--The
consensus committee shall provide a proposed
revised
[[Page 114 STAT. 3003]]
standard under subparagraph (A)(ii) to the
Secretary who shall, not later than 30 days after
receipt, cause such proposed revised standard to
be published in the Federal Register for notice
and comment in accordance with section 553 of
title 5, United States Code. Unless clause (ii)
applies, the Secretary shall provide an
opportunity for public comment on such proposed
revised standard in accordance with such section
553 and any such comments shall be submitted
directly to the consensus committee, without
delay.
``(ii) Publication of <<NOTE: Federal
Register, publication.>> rejected proposed revised
standards.--If the Secretary rejects the proposed
revised standard, the Secretary shall cause to be
published in the Federal Register the rejected
proposed revised standard, the reasons for
rejection, and any recommended modifications set
forth.
``(C) Presentation of public comments; publication
of recommended revisions.--
``(i) Presentation.--Any public comments,
views, and objections to a proposed revised
standard published under subparagraph (B) shall be
presented by the Secretary to the consensus
committee upon their receipt and in the manner
received, in accordance with procedures
established by the American National Standards
Institute.
``(ii) Publication by
the <<NOTE: Deadline.>> secretary.--The consensus
committee shall provide to the Secretary any
revision proposed by the consensus committee,
which the Secretary shall, not later than 30
calendar days after receipt, cause to be published
in the Federal Register a notice of the
recommended revisions of the consensus committee
to the standards, a notice of the submission of
the recommended revisions to the Secretary, and a
description of the circumstances under which the
proposed revised standards could become effective.
``(iii) Publication of <<NOTE: Federal
Register, publication.>> rejected proposed revised
standards.--If the Secretary rejects the proposed
revised standard, the Secretary shall cause to be
published in the Federal Register the rejected
proposed revised standard, the reasons for
rejection, and any recommended modifications set
forth.
``(5) Review by the secretary.--
``(A) In general.--The Secretary shall either adopt,
modify, or reject a standard, as submitted by the
consensus committee under paragraph (4)(A).
``(B) Timing.--Not later than <<NOTE: Deadline.>> 12
months after the date on which a standard is submitted
to the Secretary by the consensus committee, the
Secretary shall take action regarding such standard
under subparagraph (C).
``(C) Procedures.--If the Secretary--
``(i) adopts a standard recommended by the
consensus committee, the Secretary shall--
``(I) issue a final order without
further rulemaking; and
``(II) cause the final order to
be <<NOTE: Federal Register,
publication.>> published in the Federal
Register;
[[Page 114 STAT. 3004]]
``(ii) determines that any standard should be
rejected, the Secretary shall--
``(I) reject the standard; and
``(II) cause to be <<NOTE: Federal
Register, publication.>> published in
the Federal Register a notice to that
effect, together with the reason or
reasons for rejecting the proposed
standard; or
``(iii) determines that a standard recommended
by the consensus committee should be modified, the
Secretary shall--
``(I) cause to be <<NOTE: Federal
Register, publication.>> published in
the Federal Register the proposed
modified standard, together with an
explanation of the reason or reasons for
the determination of the Secretary; and
``(II) provide an opportunity for
public comment in accordance with
section 553 of title 5, United States
Code.
``(D) Final order.--Any final standard under this
paragraph shall become effective pursuant to subsection
(c).
``(6) Failure to act.--If the Secretary fails to take final
action under paragraph (5) and to cause notice of the action to
be published in the Federal Register before the expiration of
the 12-month period beginning on the date on which the proposed
revised standard is submitted to the Secretary under paragraph
(4)(A)--
``(A) the <<NOTE: Deadline.>> Secretary shall appear
in person before the appropriate housing and
appropriations subcommittees and committees of the House
of Representatives and the Senate (referred to in this
paragraph as the `committees') on a date or dates to be
specified by the committees, but in no event later than
30 days after the expiration of that 12-month period,
and shall state before the committees the reasons for
failing to take final action as required under paragraph
(5); and
``(B) if the Secretary does not appear in person as
required under subparagraph (A), the Secretary shall
thereafter, and until such time as the Secretary does
appear as required under subparagraph (A), be prohibited
from expending any funds collected under authority of
this title in an amount greater than that collected and
expended in the fiscal year immediately preceding the
date of the enactment of the Manufactured Housing
Improvement Act of 2000, indexed for inflation as
determined by the Congressional Budget Office.
``(b) Other Orders.--
``(1) Regulations.--The Secretary may issue procedural and
enforcement regulations and revisions to existing regulations as
necessary to implement the provisions of this title. The
consensus committee may submit to the Secretary proposed
procedural and enforcement regulations and recommendations for
the revision of such regulations.
``(2) Interpretative bulletins.--The Secretary may issue
interpretative bulletins to clarify the meaning of any Federal
manufactured home construction and safety standard or procedural
and enforcement regulation. The consensus committee may submit
to the Secretary proposed interpretative bulletins
[[Page 114 STAT. 3005]]
to clarify the meaning of any Federal manufactured home
construction and safety standard or procedural and enforcement
regulation.
``(3) Review by consensus committee.--Before issuing a
procedural or enforcement regulation or an interpretative
bulletin--
``(A) the Secretary shall--
``(i) submit the proposed procedural or
enforcement regulation or interpretative bulletin
to the consensus committee; and
``(ii) provide the consensus committee with a
period of 120 days to submit written comments to
the Secretary on the proposed procedural or
enforcement regulation or the interpretative
bulletin; and
``(B) if the Secretary rejects any significant
comment provided by the consensus committee under
subparagraph (A), the Secretary shall provide a written
explanation of the reasons for the rejection to the
consensus committee; and
``(C) following compliance with subparagraphs (A)
and (B), the Secretary shall--
``(i) cause the <<NOTE: Federal Register,
publication.>> proposed regulation or
interpretative bulletin and the consensus
committee's written comments, along with the
Secretary's response thereto, to be published in
the Federal Register; and
``(ii) provide an opportunity for public
comment in accordance with section 553 of title 5,
United States Code.
``(4) Required action.--Not later
than <<NOTE: Deadline.>> 120 days after the date on which the
Secretary receives a proposed regulation or interpretative
bulletin submitted by the consensus committee, the Secretary
shall--
``(A) approve the proposal and cause the proposed
regulation or interpretative bulletin to be published
for public comment in accordance with section 553 of
title 5, United States Code; or
``(B) reject the proposed regulation or
interpretative bulletin and--
``(i) provide to the consensus committee a
written explanation of the reasons for rejection;
and
``(ii) cause to be <<NOTE: Federal Register,
publication.>> published in the Federal Register
the rejected proposed regulation or interpretive
bulletin, the reasons for rejection, and any
recommended modifications set forth.
``(5) Authority to act and emergency.--If the Secretary
determines, in writing, that such action is necessary to address
an issue on which the Secretary determines that the consensus
committee has not made a timely recommendation following a
request by the Secretary, or in order to respond to an emergency
that jeopardizes the public health or safety, the Secretary may
issue an order that is not developed under the procedures set
forth in subsection (a) or in this subsection, if the
Secretary--
``(A) provides to the consensus committee a written
description and sets forth the reasons why action is
necessary and all supporting documentation; and
[[Page 114 STAT. 3006]]
``(B) issues the <<NOTE: Federal Register,
publication.>> order after notice and an opportunity for
public comment in accordance with section 553 of title
5, United States Code, and causes the order to be
published in the Federal Register.
``(6) Changes.--Any statement of policies, practices, or
procedures relating to construction and safety standards,
regulations, inspections, monitoring, or other enforcement
activities that constitutes a statement of general or particular
applicability to implement, interpret, or prescribe law or
policy by the Secretary is subject to subsection (a) or this
subsection. Any change adopted in violation of subsection (a) or
this subsection is void.
``(7) Transition.--Until the date on which the consensus
committee is appointed pursuant to section 604(a)(3), the
Secretary may issue proposed orders, pursuant to notice and
comment in accordance with section 553 of title 5, United States
Code, that are not developed under the procedures set forth in
this section for new and revised standards.'';
(2) in subsection (d), by adding at the end the following:
``Federal preemption under this subsection shall be broadly and
liberally construed to ensure that disparate State or local
requirements or standards do not affect the uniformity and
comprehensiveness of the standards promulgated under this
section nor the Federal superintendence of the manufactured
housing industry as established by this title. Subject to
section 605, there is reserved to each State the right to
establish standards for the stabilizing and support systems of
manufactured homes sited within that State, and for the
foundations on which manufactured homes sited within that State
are installed, and the right to enforce compliance with such
standards, except that such standards shall be consistent with
the purposes of this title and shall be consistent with the
design of the manufacturer.'';
(3) by striking subsection (e);
(4) in subsection (f ), by striking the subsection
designation and all of the matter that precedes paragraph (1)
and inserting the following:
``(e) Considerations in Establishing and Interpreting Standards and
Regulations.--The consensus committee, in recommending standards,
regulations, and interpretations, and the Secretary, in establishing
standards or regulations or issuing interpretations under this section,
shall--'';
(5) by striking subsection (g);
(6) in the first sentence of subsection ( j), by striking
``subsection (f )'' and inserting ``subsection (e)''; and
(7) by redesignating subsections (h), (i), and ( j), as
subsections (f ), (g), and (h), respectively.
SEC. 605. ABOLISHMENT OF NATIONAL MANUFACTURED HOME ADVISORY COUNCIL;
MANUFACTURED HOME INSTALLATION.
(a) In General.--Section 605 (42 U.S.C. 5404) is amended to read as
follows:
``SEC. 605. MANUFACTURED HOME INSTALLATION.
``(a) Provision of Installation Design and Instructions.--A
manufacturer shall provide with each manufactured home, design and
instructions for the installation of the manufactured home
[[Page 114 STAT. 3007]]
that have been approved by a design approval primary inspection agency.
After establishment of model standards under subsection (b)(2), a design
approval primary inspection agency may not give such approval unless a
design and instruction provides equal or greater protection than the
protection provided under such model standards.
``(b) Model Manufactured Home Installation Standards.--
``(1) Proposed <<NOTE: Deadline.>> model standards.--Not
later than 18 months after the date on which the initial
appointments of all the members of the consensus committee are
completed, the consensus committee shall develop and submit to
the Secretary proposed model manufactured home installation
standards, which shall, to the maximum extent practicable,
taking into account the factors described in section 604(e), be
consistent with--
``(A) the manufactured home designs that have been
approved by a design approval primary inspection agency;
and
``(B) the designs and instructions for the
installation of manufactured homes provided by
manufacturers under subsection (a).
``(2) Establishment of model standards.--Not later than 12
months after receiving the proposed model standards submitted
under paragraph (1), the Secretary shall develop and establish
model manufactured home installation standards, which shall, to
the maximum extent practicable, taking into account the factors
described in section 604(e), be consistent with--
``(A) the manufactured home designs that have been
approved by a design approval primary inspection agency;
and
``(B) the designs and instructions for the
installation of manufactured homes provided by
manufacturers under subsection (a).
``(3) Factors for consideration.--
``(A) Consensus committee.--In developing the
proposed model standards under paragraph (1), the
consensus committee shall consider the factors described
in section 604(e).
``(B) Secretary.--In developing and establishing the
model standards under paragraph (2), the Secretary shall
consider the factors described in section 604(e).
``(4) Issuance.--The model manufactured home installation
standards shall be issued after notice and an opportunity for
public comment in accordance with section 553 of title 5, United
States Code.
``(c) Manufactured Home Installation Programs.--
``(1) Protection of manufactured housing residents during
initial period.--During the 5-year period beginning on the date
of the enactment of the Manufactured Housing Improvement Act of
2000, no State or manufacturer may establish or implement any
installation standards that, in the determination of the
Secretary, provide less protection to the residents of
manufactured homes than the protection provided by the
installation standards in effect with respect to the State or
manufacturer, as applicable, on the date of the enactment of the
Manufactured Housing Improvement Act of 2000.
[[Page 114 STAT. 3008]]
``(2) Installation standards.--
``(A) Establishment of installation program.--Not
later than the expiration of the 5-year period described
in paragraph (1), the Secretary shall establish an
installation program that meets the requirements of
paragraph (3) for the enforcement of installation
standards in each State described in subparagraph (B) of
this paragraph.
``(B) Implementation of installation program.--
Beginning on the expiration of the 5-year period
described in paragraph (1), the Secretary shall
implement the installation program established under
subparagraph (A) in each State that does not have an
installation program established by State law that meets
the requirements of paragraph (3).
``(C) Contracting out of implementation.--In
carrying out subparagraph (B), the Secretary may
contract with an appropriate agent to implement the
installation program established under that
subparagraph, except that such agent shall not be a
person or entity other than a government, nor an
affiliate or subsidiary of such a person or entity, that
has entered into a contract with the Secretary to
implement any other regulatory program under this title.
``(3) Requirements.--An installation program meets the
requirements of this paragraph if it is a program regulating the
installation of manufactured homes that includes--
``(A) installation standards that, in the
determination of the Secretary, provide protection to
the residents of manufactured homes that equals or
exceeds the protection provided to those residents by--
``(i) the model manufactured home installation
standards established by the Secretary under
subsection (b)(2); or
``(ii) the designs and instructions provided
by manufacturers under subsection (a), if the
Secretary determines that such designs and
instructions provide protection to the residents
of manufactured homes that equals or exceeds the
protection provided by the model manufactured home
installation standards established by the
Secretary under subsection (b)(2);
``(B) the training and licensing of manufactured
home installers; and
``(C) inspection of the installation of manufactured
homes.''.
(b) Conforming Amendments.--Section 623(c) (42 U.S.C. 5422(c)) is
amended--
(1) in paragraph (10), by striking ``and'' at the end;
(2) by redesignating paragraph (11) as paragraph (13); and
(3) by inserting after paragraph (10) the following:
``(11) with respect to any State plan submitted on or after
the expiration of the 5-year period beginning on the date of the
enactment of the Manufactured Housing Improvement Act of 2000,
provides for an installation program established by State law
that meets the requirements of section 605(c)(3);''.
[[Page 114 STAT. 3009]]
SEC. 606. PUBLIC INFORMATION.
Section 607 (42 U.S.C. 5406) is amended--
(1) in subsection (a)--
(A) by inserting ``to the Secretary'' after
``submit''; and
(B) by adding at the end the following: ``The
Secretary shall submit such cost and other information
to the consensus committee for evaluation.'';
(2) in subsection (d), by inserting ``, the consensus
committee,'' after ``public''; and
(3) by striking subsection (c) and redesignating subsections
(d) and (e) as subsections (c) and (d), respectively.
SEC. 607. RESEARCH, TESTING, DEVELOPMENT, AND TRAINING.
(a) In General.--Section 608(a) (42 U.S.C. 5407(a)) is amended--
(1) in paragraph (2), by striking ``and'' at the end;
(2) in paragraph (3), by striking the period at the end and
inserting a semicolon; and
(3) by adding at the end the following:
``(4) encouraging the government-sponsored housing entities
to actively develop and implement secondary market
securitization programs for the FHA manufactured home loans and
those of other loan programs, as appropriate, thereby promoting
the availability of affordable manufactured homes to increase
homeownership for all people in the United States; and
``(5) reviewing the programs for FHA manufactured home loans
and developing any changes to such programs to promote the
affordability of manufactured homes, including changes in loan
terms, amortization periods, regulations, and procedures.''.
(b) Definitions.--Section 608 (42 U.S.C. 5407) is amended by adding
at the end the following:
``(c) Definitions.--For purposes of this section, the following
definitions shall apply:
``(1) Government-sponsored housing entities.--The term
`government-sponsored housing entities' means the Government
National Mortgage Association of the Department of Housing and
Urban Development, the Federal National Mortgage Association,
and the Federal Home Loan Mortgage Corporation.
``(2) FHA manufactured home loan.--The term `FHA
manufactured home loan' means a loan that--
``(A) is insured under title I of the National
Housing Act and is made for the purpose of financing
alterations, repairs, or improvements on or in
connection with an existing manufactured home, the
purchase of a manufactured home, the purchase of a
manufactured home and a lot on which to place the home,
or the purchase only of a lot on which to place a
manufactured home; or
``(B) is otherwise insured under the National
Housing Act and made for or in connection with a
manufactured home.''.
SEC. 608. PROHIBITED ACTS.
Section 610(a) (42 U.S.C. 5409(a)) is amended--
(1) in paragraph (5), by striking ``or'' at the end;
[[Page 114 STAT. 3010]]
(2) in paragraph (6), by striking the period at the end and
inserting ``; or''; and
(3) by adding at the end the following new paragraph:
``(7) after the expiration of the period specified in
section 605(c)(2)(B), fail to comply with the requirements for
the installation program required by section 605 in any State
that has not adopted and implemented a State installation
program.''.
SEC. 609. FEES.
Section 620 (42 U.S.C. 5419) is amended to read as follows:
``SEC. 620. AUTHORITY TO COLLECT FEE.
``(a) In General.--In carrying out inspections under this title, in
developing standards and regulations pursuant to section 604, and in
facilitating the acceptance of the affordability and availability of
manufactured housing within the Department, the Secretary may--
``(1) establish and collect from manufactured home
manufacturers a reasonable fee, as may be necessary to offset
the expenses incurred by the Secretary in connection with
carrying out the responsibilities of the Secretary under this
title, including--
``(A) conducting inspections and monitoring;
``(B) providing funding to States for the
administration and implementation of approved State
plans under section 623, including reasonable funding
for cooperative educational and training programs
designed to facilitate uniform enforcement under this
title, which funds may be paid directly to the States or
may be paid or provided to any person or entity
designated to receive and disburse such funds by
cooperative agreements among participating States,
provided that such person or entity is not otherwise an
agent of the Secretary under this title;
``(C) providing the funding for a noncareer
administrator within the Department to administer the
manufactured housing program;
``(D) providing the funding for salaries and
expenses of employees of the Department to carry out the
manufactured housing program;
``(E) administering the consensus committee as set
forth in section 604;
``(F) facilitating the acceptance of the quality,
durability, safety, and affordability of manufactured
housing within the Department; and
``(G) the administration and enforcement of the
installation standards authorized by section 605 in
States in which the Secretary is required to implement
an installation program after the expiration of the 5-
year period set forth in section 605(c)(2)(B), and the
administration and enforcement of a dispute resolution
program described in section 623(c)(12) in States in
which the Secretary is required to implement such a
program after the expiration of the 5-year period set
forth in section 623(g)(2); and
``(2) subject to subsection (e), use amounts from any fee
collected under paragraph (1) of this subsection to pay expenses
[[Page 114 STAT. 3011]]
referred to in that paragraph, which shall be exempt and
separate from any limitations on the Department regarding full-
time equivalent positions and travel.
``(b) Contractors.--In using amounts from any fee collected under
this section, the Secretary shall ensure that separate and independent
contractors are retained to carry out monitoring and inspection work and
any other work that may be delegated to a contractor under this title.
``(c) Prohibited Use.--No amount from any fee collected under this
section may be used for any purpose or activity not specifically
authorized by this title, unless such activity was already engaged in by
the Secretary prior to the date of the enactment of the Manufactured
Housing Improvement Act of 2000.
``(d) Modification.--Beginning on the <<NOTE: Effective date.>> date
of the enactment of the Manufactured Housing Improvement Act of 2000,
the amount of any fee collected under this section may only be
modified--
``(1) as specifically authorized in advance in an annual
appropriations Act; and
``(2) pursuant to rulemaking in accordance with section 553
of title 5, United States Code.
``(e) Appropriation and Deposit of Fees.--
``(1) In general.--There is established in the Treasury of
the United States a fund to be known as the `Manufactured
Housing Fees Trust Fund' for deposit of amounts from any fee
collected under this section. Such amounts shall be held in
trust for use only as provided in this title.
``(2) Appropriation.--Amounts from any fee collected under
this section shall be available for expenditure only to the
extent approved in advance in an annual appropriations Act. Any
change in the expenditure of such amounts shall be specifically
authorized in advance in an annual appropriations Act.
``(3) Payments to states.--On and after the effective date
of the Manufactured Housing Improvement Act of 2000, the
Secretary shall continue to fund the States having approved
State plans in the amounts which are not less than the allocated
amounts, based on the fee distribution system in effect on the
day before such effective date.''.
SEC. 610. DISPUTE RESOLUTION.
Section 623(c) (42 U.S.C. 5422(c)) is amended--
(1) by inserting after paragraph (11) (as added by the
preceding provisions of this title) the following:
``(12) with respect to any State plan submitted on or after
the expiration of the 5-year period beginning on the date of the
enactment of the Manufactured Housing Improvement Act of 2000,
provides for a dispute resolution program for the timely
resolution of disputes between manufacturers, retailers, and
installers of manufactured homes regarding responsibility, and
for the issuance of appropriate orders, for the correction or
repair of defects in manufactured homes that are reported during
the 1-year period beginning on the date of installation; and'';
and
(2) by adding at the end the following:
``(g) Enforcement of Dispute Resolution Standards.--
``(1) Establishment of dispute resolution program.--
Not <<NOTE: Deadline.>> later than the expiration of the 5-year
period beginning on the date of the enactment of the
Manufactured Housing
[[Page 114 STAT. 3012]]
Improvement Act of 2000, the Secretary shall establish a dispute
resolution program that meets the requirements of subsection
(c)(12) for dispute resolution in each State described in
paragraph (2) of this subsection. The order establishing the
dispute resolution program shall be issued after notice and
opportunity for public comment in accordance with section 553 of
title 5, United States Code.
``(2) Implementation of <<NOTE: Effective date.>> dispute
resolution program.--Beginning on the expiration of the 5-year
period described in paragraph (1), the Secretary shall implement
the dispute resolution program established under paragraph (1)
in each State that has not established a dispute resolution
program that meets the requirements of subsection (c)(12).
``(3) Contracting out of implementation.--In carrying out
paragraph (2), the Secretary may contract with an appropriate
agent to implement the dispute resolution program established
under paragraph (2), except that such agent shall not be a
person or entity other than a government, nor an affiliate or
subsidiary of such a person or entity, that has entered into a
contract with the Secretary to implement any other regulatory
program under this title.''.
SEC. 611. ELIMINATION OF ANNUAL REPORTING REQUIREMENT.
The National Manufactured Housing Construction and Safety Standards
Act of 1974 (42 U.S.C. 5401 et seq.) is amended--
(1) by striking section 626 (42 U.S.C. 5425); and
(2) by redesignating sections 627 and 628 (42 U.S.C. 5426,
5401 note) as sections 626 and 627, respectively.
SEC. 612. <<NOTE: 42 USC 5401 note.>> EFFECTIVE DATE.
The amendments made by this title shall take effect on the date of
the enactment of this Act, except that the amendments shall have no
effect on any order or interpretative bulletin that is issued under the
National Manufactured Housing Construction and Safety Standards Act of
1974 (42 U.S.C. 5401 et seq.) and published as a proposed rule pursuant
to section 553 of title 5, United States Code, on or before that date of
the enactment.
SEC. 613. <<NOTE: 42 USC 5401 note.>> SAVINGS PROVISIONS.
(a) Standards and <<NOTE: Applicability.>> Regulations.--The Federal
manufactured home construction and safety standards (as such term is
defined in section 603 of the National Manufactured Housing Construction
and Safety Standards Act of 1974) and all regulations pertaining thereto
in effect on the day before the date of the enactment of this Act shall
apply until the effective date of a standard or regulation modifying or
superseding the existing standard or regulation that is promulgated
under subsection (a) or (b) of section 604 of the National Manufactured
Housing Construction and Safety Standards Act of 1974, as amended by
this title.
(b) Contracts.--Any contract awarded pursuant to a Request for
Proposal issued before the date of the enactment of this Act shall
remain in effect until the earlier of--
(1) the expiration of the 2-year period beginning on the
date of the enactment of this Act; or
(2) the expiration of the contract term.
[[Page 114 STAT. 3013]]
TITLE VII--RURAL HOUSING HOMEOWNERSHIP
SEC. 701. GUARANTEES FOR REFINANCING OF RURAL HOUSING LOANS.
Section 502(h) of the Housing Act of 1949 (42 U.S.C. 1472(h)) is
amended by adding at the end the following new paragraph:
``(13) Guarantees for refinancing loans.--
``(A) In General.--Upon the request of the borrower,
the Secretary shall, to the extent provided in
appropriation Acts and subject to subparagraph (F),
guarantee a loan that is made to refinance an existing
loan that is made under this section or guaranteed under
this subsection, and that the Secretary determines
complies with the requirements of this paragraph.
``(B) Interest rate.--To be eligible for a guarantee
under this paragraph, the refinancing loan shall have a
rate of interest that is fixed over the term of the loan
and does not exceed the interest rate of the loan being
refinanced.
``(C) Security.--To be eligible for a guarantee
under this paragraph, the refinancing loan shall be
secured by the same single-family residence as was the
loan being refinanced, which shall be owned by the
borrower and occupied by the borrower as the principal
residence of the borrower.
``(D) Amount.--To be eligible for a guarantee under
this paragraph, the principal obligation under the
refinancing loan shall not exceed an amount equal to the
sum of the balance of the loan being refinanced and such
closing costs as may be authorized by the Secretary,
which shall include a discount not exceeding 200 basis
points and an origination fee not exceeding such amount
as the Secretary shall prescribe.
``(E) Other <<NOTE: Applicability.>> requirements.--
The provisions of the last sentence of paragraph (1) and
paragraphs (2), (5), (6)(A), (7), and (9) shall apply to
loans guaranteed under this paragraph, and no other
provisions of paragraphs (1) through (12) shall apply to
such loans.
``(F) Authority to establish limitation.--The
Secretary may establish limitations on the number of
loans guaranteed under this paragraph, which shall be
based on market conditions and other factors as the
Secretary considers appropriate.''.
SEC. 702. PROMISSORY NOTE REQUIREMENT UNDER HOUSING REPAIR LOAN PROGRAM.
The fourth sentence of section 504(a) of the Housing Act of 1949 (42
U.S.C. 1474(a)) is amended by striking ``$2,500'' and inserting
``$7,500''.
SEC. 703. LIMITED PARTNERSHIP ELIGIBILITY FOR FARM LABOR HOUSING LOANS.
The first sentence of section 514(a) of the Housing Act of 1949 (42
U.S.C. 1484(a)) is amended by striking ``nonprofit limited partnership''
and inserting ``limited partnership''.
[[Page 114 STAT. 3014]]
SEC. 704. PROJECT ACCOUNTING RECORDS AND PRACTICES.
Section 515 of the Housing Act of 1949 (42 U.S.C. 1485) is amended
by striking subsection (z) and inserting the following new subsections:
``(z) Accounting and Recordkeeping Requirements.--
``(1) Accounting standards.--The Secretary shall require
that borrowers in programs authorized by this section maintain
accounting records in accordance with generally accepted
accounting principles for all projects that receive funds from
loans made or guaranteed by the Secretary under this section.
``(2) Record retention requirements.--The Secretary shall
require that borrowers in programs authorized by this section
retain for a period of not less than 6 years and make available
to the Secretary in a manner determined by the Secretary, all
records required to be maintained under this subsection and
other records identified by the Secretary in applicable
regulations.
``(aa) Double Damages for Unauthorized Use of Housing Projects
Assets and Income.--
``(1) Action to recover assets or income.--
``(A) In general.--The Secretary may request the
Attorney General to bring an action in a United States
district court to recover any assets or income used by
any person in violation of the provisions of a loan made
or guaranteed by the Secretary under this section or in
violation of any applicable statute or regulation.
``(B) Improper documentation.--For purposes of this
subsection, a use of assets or income in violation of
the applicable loan, loan guarantee, statute, or
regulation shall include any use for which the
documentation in the books and accounts does not
establish that the use was made for a reasonable
operating expense or necessary repair of the project or
for which the documentation has not been maintained in
accordance with the requirements of the Secretary and in
reasonable condition for proper audit.
``(C) Definition.--For the purposes of this
subsection, the term `person' means--
``(i) any individual or entity that borrows
funds in accordance with programs authorized by
this section;
``(ii) any individual or entity holding 25
percent or more interest of any entity that
borrows funds in accordance with programs
authorized by this section; and
``(iii) any officer, director, or partner of
an entity that borrows funds in accordance with
programs authorized by this section.
``(2) Amount recoverable.--
``(A) In general.--In any judgment favorable to the
United States entered under this subsection, the
Attorney General may recover double the value of the
assets and income of the project that the court
determines to have been used in violation of the
provisions of a loan made or guaranteed by the Secretary
under this section or any applicable statute or
regulation, plus all costs related to the action,
including reasonable attorney and auditing fees.
``(B) Application of recovered funds.--
Notwithstanding any other provision of law, the
Secretary may
[[Page 114 STAT. 3015]]
use amounts recovered under this subsection for
activities authorized under this section and such funds
shall remain available for such use until expended.
``(3) Time limitation.--Notwithstanding any other provision
of law, an action under this subsection may be commenced at any
time during the 6-year period beginning on the date that the
Secretary discovered or should have discovered the violation of
the provisions of this section or any related statutes or
regulations.
``(4) Continued availability of other remedies.--The remedy
provided in this subsection is in addition to and not in
substitution of any other remedies available to the Secretary or
the United States.''.
SEC. 705. DEFINITION OF RURAL AREA.
The second sentence of section 520 of the Housing Act of 1949 (42
U.S.C. 1490) is amended--
(1) by striking ``1990 decennial census'' and inserting
``1990 or 2000 decennial census''; and
(2) by striking ``year 2000'' and inserting ``year 2010''.
SEC. 706. OPERATING ASSISTANCE FOR MIGRANT FARMWORKERS PROJECTS.
The last sentence of section 521(a)(5)(A) of the Housing Act of 1949
(42 U.S.C. 1490a(a)(5)(A)) is amended by striking ``project'' and
inserting ``tenant or unit''.
SEC. 707. MULTIFAMILY RENTAL HOUSING LOAN GUARANTEE PROGRAM.
Section 538 of the Housing Act of 1949 (42 U.S.C. 1490p-2) is
amended--
(1) in subsection (c), by inserting ``an Indian tribe,''
after ``thereof,'';
(2) in subsection (f ), by striking paragraph (1) and
inserting the following new paragraph:
``(1) be made for a period of not less than 25 nor greater
than 40 years from the date the loan was made and may provide
for amortization of the loan over a period of not to exceed 40
years with a final payment of the balance due at the end of the
loan term;'';
(3) in subsection (i)(2), by striking ``(A) conveyance to
the Secretary'' and all that follows through ``(C) assignment''
and inserting ``(A) submission to the Secretary of a claim for
payment under the guarantee, and (B) assignment'';
(4) in subsection (s), by adding at the end the following
new subsection:
``(4) Indian tribe.--The term `Indian tribe' means--
``(A) any Indian tribe, band, nation, or other
organized group or community of Indians, including any
Alaska Native village or regional or village
corporation, as defined by or established pursuant to
the Alaska Native Claims Settlement Act (43 U.S.C. 1601
et seq.), that is recognized as eligible for the special
programs and services provided by the United States to
Indians because of their status as Indians pursuant to
the Indian Self-Determination and Education Assistance
Act of 1975 (25 U.S.C. 450 et seq.); or
[[Page 114 STAT. 3016]]
``(B) any entity established by the governing body
of an Indian tribe described in subparagraph (A) for the
purpose of financing economic development.'';
(5) in subsection (t), by inserting before the period at the
end the following: ``to provide guarantees under this section
for eligible loans having an aggregate principal amount of
$500,000,000'';
(6) by striking subsection (l);
(7) by redesignating subsections (m) through (u) as
subsections (l) through (t), respectively; and
(8) by adding at the end the following new subsections:
``(u) Fee Authority.--Any amounts collected by the Secretary
pursuant to the fees charged to lenders for loan guarantees issued under
this section shall be used to offset costs (as defined by section 502 of
the Congressional Budget Act of 1974 (2 U.S.C. 661a)) of loan guarantees
made under this section.
``(v) Defaults of Loans Secured by Reservation Lands.--In the event
of a default involving a loan to an Indian tribe or tribal corporation
made under this section which is secured by an interest in land within
such tribe's reservation (as determined by the Secretary of the
Interior), including a community in Alaska incorporated by the Secretary
of the Interior pursuant to the Indian Reorganization Act (25 U.S.C. 461
et seq.), the lender shall only pursue liquidation after offering to
transfer the account to an eligible tribal member, the tribe, or the
Indian housing authority serving the tribe. If the lender subsequently
proceeds to liquidate the account, the lender shall not sell, transfer,
or otherwise dispose of or alienate the property except to one of the
entities described in the preceding sentence.''.
SEC. 708. ENFORCEMENT PROVISIONS.
(a) In General.--Title V of the Housing Act of 1949 (42 U.S.C. 1471
et seq.) is amended by adding after section 542 the following:
``SEC. 543. <<NOTE: 42 USC 14905.>> ENFORCEMENT PROVISIONS.
``(a) Equity Skimming.--
``(1) Criminal penalty.--Whoever, as an owner, agent,
employee, or manager, or is otherwise in custody, control, or
possession of property that is security for a loan made or
guaranteed under this title, willfully uses, or authorizes the
use, of any part of the rents, assets, proceeds, income, or
other funds derived from such property, for any purpose other
than to meet actual, reasonable, and necessary expenses of the
property, or for any other purpose not authorized by this title
or the regulations adopted pursuant to this title, shall be
fined under title 18, United States Code, or imprisoned not more
than 5 years, or both.
``(2) Civil sanctions.--An entity or individual who as an
owner, operator, employee, or manager, or who acts as an agent
for a property that is security for a loan made or guaranteed
under this title where any part of the rents, assets, proceeds,
income, or other funds derived from such property are used for
any purpose other than to meet actual, reasonable, and necessary
expenses of the property, or for any other purpose not
authorized by this title or the regulations adopted pursuant to
this title, shall be subject to a fine of not more than $25,000
per violation. The sanctions provided in this paragraph may
[[Page 114 STAT. 3017]]
be imposed in addition to any other civil sanctions or civil
monetary penalties authorized by law.
``(b) Civil Monetary Penalties.--
``(1) In general.--The Secretary may, after notice and
opportunity for a hearing, impose a civil monetary penalty in
accordance with this subsection against any individual or
entity, including its owners, officers, directors, general
partners, limited partners, or employees, who knowingly and
materially violate, or participate in the violation of, the
provisions of this title, the regulations issued by the
Secretary pursuant to this title, or agreements made in
accordance with this title, by--
``(A) submitting information to the Secretary that
is false;
``(B) providing the Secretary with false
certifications;
``(C) failing to submit information requested by the
Secretary in a timely manner;
``(D) failing to maintain the property subject to
loans made or guaranteed under this title in good repair
and condition, as determined by the Secretary;
``(E) failing to provide management for a project
which received a loan made or guaranteed under this
title that is acceptable to the Secretary; or
``(F) failing to comply with the provisions of
applicable civil rights statutes and regulations.
``(2) Conditions for renewal or extension.--The Secretary
may require that expiring loan or assistance agreements entered
into under this title shall not be renewed or extended unless
the owner executes an agreement to comply with additional
conditions prescribed by the Secretary, or executes a new loan
or assistance agreement in the form prescribed by the Secretary.
``(3) Amount.--
``(A) In general.--The amount of a civil monetary
penalty imposed under this subsection shall not exceed
the greater of--
``(i) twice the damages the Department of
Agriculture, the guaranteed lender, or the project
that is secured for a loan under this section
suffered or would have suffered as a result of the
violation; or
``(ii) $50,000 per violation.
``(B) Determination.--In determining the amount of a
civil monetary penalty under this subsection, the
Secretary shall take into consideration--
``(i) the gravity of the offense;
``(ii) any history of prior offenses by the
violator (including offenses occurring prior to
the enactment of this section);
``(iii) the ability of the violator to pay the
penalty;
``(iv) any injury to tenants;
``(v) any injury to the public;
``(vi) any benefits received by the violator
as a result of the violation;
``(vii) deterrence of future violations; and
``(viii) such other factors as the Secretary
may establish by regulation.
[[Page 114 STAT. 3018]]
``(4) Payment of penalties.--No payment of a penalty
assessed under this section may be made from funds provided
under this title or from funds of a project which serve as
security for a loan made or guaranteed under this title.
``(5) Remedies for noncompliance.--
``(A) Judicial intervention.--If a person or entity
fails to comply with a final determination by the
Secretary imposing a civil monetary penalty under this
subsection, the Secretary may request the Attorney
General of the United States to bring an action in an
appropriate United States district court to obtain a
monetary judgment against such individual or entity and
such other relief as may be available. The monetary
judgment may, in the court's discretion, include the
attorney's fees and other expenses incurred by the
United States in connection with the action.
``(B) Reviewability of determination.--In an action
under this paragraph, the validity and appropriateness
of a determination by the Secretary imposing the penalty
shall not be subject to review.''.
(b) Conforming Amendment.--Section 514 of the Housing Act of 1949
(42 U.S.C. 1484) is amended by striking subsection ( j).
SEC. 709. AMENDMENTS TO TITLE 18 OF UNITED STATES CODE.
(a) Money Laundering.--Section 1956(c)(7)(D) of title 18, United
States Code, is amended by inserting ``any violation of section
543(a)(1) of the Housing Act of 1949 (relating to equity skimming),''
after ``coupons having a value of not less than $5,000,''.
(b) Obstruction of Federal Audits.--Section 1516(a) of title 18,
United States Code, is amended by inserting ``or relating to any
property that is security for a loan that is made or guaranteed under
title V of the Housing Act of 1949,'' before ``shall be fined under this
title''.
TITLE VIII--HOUSING <<NOTE: Affordable Housing for Seniors and Families
Act.>> FOR ELDERLY AND DISABLED FAMILIES
SEC. 801. <<NOTE: 12 USC 1701 note.>> SHORT TITLE.
This title may be cited as the ``Affordable Housing for Seniors and
Families Act''.
SEC. 802. <<NOTE: 12 USC 1701 note.>> REGULATIONS.
The Secretary of Housing and Urban Development (referred to in this
title as the ``Secretary'') shall issue any regulations to carry out
this title and the amendments made by this title that the Secretary
determines may or will affect tenants of federally assisted housing only
after notice and opportunity for public comment in accordance with the
procedure under section 553 of title 5, United States Code, applicable
to substantive rules (notwithstanding subsections (a)(2), (b)(B), and
(d)(3) of such <<NOTE: Federal Register, publication.>> section). Notice
of such proposed rulemaking shall be provided by publication in the
Federal Register. In issuing such regulations, the Secretary shall take
such actions as may be necessary to ensure that such tenants are
notified of, and provided an opportunity to participate in, the
rulemaking, as required by such section 553.
[[Page 114 STAT. 3019]]
SEC. 803. <<NOTE: 12 USC 1701q note.>> EFFECTIVE DATE.
(a) In General.--The provisions of this title and the amendments
made by this title are effective as of the date of the enactment of this
Act, unless such provisions or amendments specifically provide for
effectiveness or applicability upon another date certain.
(b) Effect of Regulatory Authority.--Any authority in this title or
the amendments made by this title to issue regulations, and any specific
requirement to issue regulations by a date certain, may not be construed
to affect the effectiveness or applicability of the provisions of this
title or the amendments made by this title under such provisions and
amendments and subsection (a) of this section.
Subtitle A--Refinancing for Section 202 Supportive Housing for the
Elderly
SEC. 811. <<NOTE: 12 USC 1701q note.>> PREPAYMENT AND REFINANCING.
(a) Approval of Prepayment of Debt.--Upon request of the project
sponsor of a project assisted with a loan under section 202 of the
Housing Act of 1959 (as in effect before the enactment of the Cranston-
Gonzalez National Affordable Housing Act), the Secretary shall approve
the prepayment of any indebtedness to the Secretary relating to any
remaining principal and interest under the loan as part of a prepayment
plan under which--
(1) the project sponsor agrees to operate the project until
the maturity date of the original loan under terms at least as
advantageous to existing and future tenants as the terms
required by the original loan agreement or any rental assistance
payments contract under section 8 of the United States Housing
Act of 1937 (or any other rental housing assistance programs of
the Department of Housing and Urban Development, including the
rent supplement program under section 101 of the Housing and
Urban Development Act of 1965 (12 U.S.C. 1701s)) relating to the
project; and
(2) the prepayment may involve refinancing of the loan if
such refinancing results in a lower interest rate on the
principal of the loan for the project and in reductions in debt
service related to such loan.
(b) Sources of Refinancing.--In the case of prepayment under this
section involving refinancing, the project sponsor may refinance the
project through any third party source, including financing by State and
local housing finance agencies, use of tax-exempt bonds, multi-family
mortgage insurance under the National Housing Act, reinsurance, or other
credit enhancements, including risk sharing as provided under section
542 of the Housing and Community Development Act of 1992 (12 U.S.C. 1707
note). For purposes of underwriting a loan insured under the National
Housing Act, the Secretary may assume that any section 8 rental
assistance contract relating to a project will be renewed for the term
of such loan.
(c) Use of Unexpended Amounts.--Upon execution of the refinancing
for a project pursuant to this section, the Secretary shall make
available at least 50 percent of the annual savings resulting from
reduced section 8 or other rental housing assistance
[[Page 114 STAT. 3020]]
contracts in a manner that is advantageous to the tenants, including--
(1) not more than 15 percent of the cost of increasing the
availability or provision of supportive services, which may
include the financing of service coordinators and congregate
services;
(2) rehabilitation, modernization, or retrofitting of
structures, common areas, or individual dwelling units;
(3) construction of an addition or other facility in the
project, including assisted living facilities (or, upon the
approval of the Secretary, facilities located in the community
where the project sponsor refinances a project under this
section, or pools shared resources from more than one such
project); or
(4) rent reduction of unassisted tenants residing in the
project according to a pro rata allocation of shared savings
resulting from the refinancing.
(d) Use of Certain Project Funds.--The Secretary shall allow a
project sponsor that is prepaying and refinancing a project under this
section--
(1) to use any residual receipts held for that project in
excess of $500 per individual dwelling unit for not more than 15
percent of the cost of activities designed to increase the
availability or provision of supportive services; and
(2) to use any reserves for replacement in excess of $1,000
per individual dwelling unit for activities described in
paragraphs (2) and (3) of subsection (c).
(e) Budget Act Compliance.--This section shall be effective only to
extent or in such amounts that are provided in advance in appropriation
Acts.
Subtitle B--Authorization of Appropriations for Supportive Housing for
the Elderly and Persons With Disabilities
SEC. 821. SUPPORTIVE HOUSING FOR ELDERLY PERSONS.
Section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) is amended
by adding at the end the following:
``(m) Authorization of Appropriations.--There are authorized to be
appropriated for providing assistance under this section such sums as
may be necessary for each of fiscal years 2001, 2002, and 2003.''.
SEC. 822. SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES.
Section 811 of the Cranston-Gonzalez National Affordable Housing Act
(42 U.S.C. 8013) is amended by striking subsection (m) and inserting the
following:
``(m) Authorization of Appropriations.--There are authorized to be
appropriated for providing assistance under this section such sums as
may be necessary for each of fiscal years 2001, 2002, and 2003.''.
[[Page 114 STAT. 3021]]
SEC. 823. SERVICE COORDINATORS AND CONGREGATE SERVICES FOR ELDERLY AND
DISABLED HOUSING.
There are authorized to be appropriated to the Secretary such sums
as may be necessary for each of fiscal years 2001, 2002, and 2003, for
the following purposes:
(1) Grants for service coordinators for certain federally
assisted multifamily housing.--For grants under section 676 of
the Housing and Community Development Act of 1992 (42 U.S.C.
13632) for providing service coordinators.
(2) Congregate services for federally assisted housing.--For
contracts under section 802 of the Cranston-Gonzalez National
Affordable Housing Act (42 U.S.C. 8011) to provide congregate
services programs for eligible residents of eligible housing
projects under subparagraphs (B) through (D) of subsection
(k)(6) of such section.
Subtitle C--Expanding Housing Opportunities for the Elderly and Persons
With Disabilities
PART 1--HOUSING FOR THE ELDERLY
SEC. 831. ELIGIBILITY OF FOR-PROFIT LIMITED PARTNERSHIPS.
Section 202(k)(4) of the Housing Act of 1959 (12 U.S.C. 1701q(k)(4))
is amended by inserting after subparagraph (C) the following:
``Such term includes a for-profit limited partnership the sole
general partner of which is an organization meeting the
requirements under subparagraphs (A), (B), and (C), or a
corporation wholly owned and controlled by an organization
meeting the requirements under subparagraphs (A), (B), and
(C).''.
SEC. 832. MIXED FUNDING SOURCES.
Section 202(h)(6) of the Housing Act of 1959 (12 U.S.C. 1701q(h)(6))
is amended--
(1) by striking ``non-Federal sources'' and inserting
``sources other than this section''; and
(2) by adding at the end the following new sentence:
``Notwithstanding any other provision of law, assistance amounts
provided under this section may be treated as amounts not
derived from a Federal grant.''.
SEC. 833. AUTHORITY TO ACQUIRE STRUCTURES.
Section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) is
amended--
(1) in subsection (b), by striking ``from the Resolution
Trust Corporation''; and
(2) in subsection (h)(2)--
(A) in the paragraph heading, by striking ``RTC
properties'' and inserting ``Acquisition''; and
(B) by striking ``from the Resolution'' and all that
follows through ``Insurance Act''.
SEC. 834. USE OF PROJECT RESERVES.
Section 202( j) of the Housing Act of 1959 (12 U.S.C. 1701q( j)) is
amended by adding at the end the following:
[[Page 114 STAT. 3022]]
``(8) Use of project reserves.--Amounts for project reserves
for a project assisted under this section may be used for costs,
subject to reasonable limitations as the Secretary determines
appropriate, for reducing the number of dwelling units in the
project. Such use shall be subject to the approval of the
Secretary to ensure that the use is designed to retrofit units
that are currently obsolete or unmarketable.''.
SEC. 835. COMMERCIAL ACTIVITIES.
Section 202(h)(1) of the Housing Act of 1959 (12 U.S.C. 1701q(h)(1))
is amended by adding at the end the following: ``Neither this section
nor any other provision of law may be construed as prohibiting or
preventing the location and operation, in a project assisted under this
section, of commercial facilities for the benefit of residents of the
project and the community in which the project is located, except that
assistance made available under this section may not be used to
subsidize any such commercial facility.''.
PART 2--HOUSING FOR PERSONS WITH DISABILITIES
SEC. 841. ELIGIBILITY OF FOR-PROFIT LIMITED PARTNERSHIPS.
Section 811(k)(6) of the Housing Act of 1959 (42 U.S.C. 8013(k)(6))
is amended by inserting after subparagraph (D) the following:
``Such term includes a for-profit limited partnership the sole
general partner of which is an organization meeting the
requirements under subparagraphs (A), (B), (C), and (D) or a
corporation wholly owned and controlled by an organization
meeting the requirements under subparagraphs (A), (B), (C), and
(D).''.
SEC. 842. MIXED FUNDING SOURCES.
Section 811(h)(5) of the Cranston-Gonzalez National Affordable
Housing Act (42 U.S.C. 8013(h)(5)) is amended--
(1) by striking ``non-Federal sources'' and inserting
``sources other than this section''; and
(2) by adding at the end the following new sentence:
``Notwithstanding any other provision of law, assistance amounts
provided under this section may be treated as amounts not
derived from a Federal grant.''.
SEC. 843. TENANT-BASED ASSISTANCE.
Section 811 of the Cranston-Gonzalez National Affordable Housing Act
(42 U.S.C. 8013) is amended--
(1) in subsection (d), by striking paragraph (4) and
inserting the following:
``(4) Tenant-based rental assistance.--
``(A) Administering entities.--Tenant-based rental
assistance provided under subsection (b)(1) may be
provided only through a public housing agency that has
submitted and had approved a plan under section 7(d) of
the United States Housing Act of 1937 (42 U.S.C.
1437e(d)) that provides for such assistance, or through
a private nonprofit organization. A public housing
agency shall be eligible to apply under this section
only for the purposes of providing such tenant-based
rental assistance.
[[Page 114 STAT. 3023]]
``(B) Program rules.--Tenant-based rental assistance
under subsection (b)(1) shall be made available to
eligible persons with disabilities and administered
under the same rules that govern tenant-based rental
assistance made available under section 8 of the United
States Housing Act of 1937, except that the Secretary
may waive or modify such rules, but only to the extent
necessary to provide for administering such assistance
under subsection (b)(1) through private nonprofit
organizations rather than through public housing
agencies.
``(C) Allocation of assistance.--In determining the
amount of assistance provided under subsection (b)(1)
for a private nonprofit organization or public housing
agency, the Secretary shall consider the needs and
capabilities of the organization or agency, in the case
of a public housing agency, as described in the plan for
the agency under section 7 of the United States Housing
Act of 1937.''; and
(2) in subsection (l)(1)--
(A) by striking ``subsection (b)'' and inserting
``subsection (b)(2)''; and
(B) by striking the last comma and all that follows
through ``subsection (n)''.
SEC. 844. USE OF PROJECT RESERVES.
Section 811( j) of the Cranston-Gonzalez National Affordable Housing
Act (42 U.S.C. 8013( j)) is amended by adding at the end the following:
``(7) Use of project reserves.--Amounts for project reserves
for a project assisted under this section may be used for costs,
subject to reasonable limitations as the Secretary determines
appropriate, for reducing the number of dwelling units in the
project. Such use shall be subject to the approval of the
Secretary to ensure that the use is designed to retrofit units
that are currently obsolete or unmarketable.''.
SEC. 845. COMMERCIAL ACTIVITIES.
Section 811(h)(1) of the Cranston-Gonzalez National Affordable
Housing Act (42 U.S.C. 8013(h)(1)) is amended by adding at the end the
following: ``Neither this section nor any other provision of law may be
construed as prohibiting or preventing the location and operation, in a
project assisted under this section, of commercial facilities for the
benefit of residents of the project and the community in which the
project is located, except that assistance made available under this
section may not be used to subsidize any such commercial facility.''.
PART 3--OTHER PROVISIONS
SEC. 851. SERVICE COORDINATORS.
(a) Increased Flexibility for Use of Service Coordinators in Certain
Federally Assisted Housing.--Section 676 of the Housing and Community
Development Act of 1992 (42 U.S.C. 13632) is amended--
(1) in the section heading, by striking ``multifamily
housing assisted under national housing act'' and inserting
``certain federally assisted housing'';
(2) in subsection (a)--
[[Page 114 STAT. 3024]]
(A) in the first sentence, by striking ``(E) and
(F)'' and inserting ``(B), (C), (D), (E), (F), and
(G)''; and
(B) in the last sentence--
(i) by striking ``section 661'' and inserting
``section 671''; and
(ii) by adding at the end the following: ``A
service coordinator funded with a grant under this
section for a project may provide services to low-
income elderly or disabled families living in the
vicinity of such project.'';
(3) in subsection (d)--
(A) by striking ``(E) or (F)'' and inserting ``(B),
(C), (D), (E), (F), or (G)''; and
(B) by striking ``section 661'' and inserting
``section 671''; and
(4) by striking subsection (c) and redesignating subsection
(d) (as amended by paragraph (3) of this subsection) as
subsection (c).
(b) Requirement To Provide Service Coordinators.--Section 671 of the
Housing and Community Development Act of 1992 (42 U.S.C. 13631) is
amended--
(1) in the first sentence of subsection (a), by striking
``to carry out this subtitle pursuant to the amendments made by
this subtitle'' and inserting the following: ``for providing
service coordinators under this section'';
(2) in subsection (d), by inserting ``)'' after ``section
683(2)''; and
(3) by adding at the end following:
``(e) Services for Low-Income Elderly or Disabled Families Residing
in Vicinity of Certain Projects.--To the extent only that this section
applies to service coordinators for covered federally assisted housing
described in subparagraphs (B), (C), (D), (E), (F), and (G) of section
683(2), any reference in this section to elderly or disabled residents
of a project shall be construed to include low-income elderly or
disabled families living in the vicinity of such project.''.
(c) Protection Against Telemarketing Fraud.--
(1) Supportive housing for the elderly.--The first sentence
of section 202(g)(1) of the Housing Act of 1959 (12 U.S.C.
1701q(g)(1)) is amended by striking ``and (F)'' and inserting
the following: ``(F) providing education and outreach regarding
telemarketing fraud, in accordance with the standards issued
under section 671(f ) of the Housing and Community Development
Act of 1992 (42 U.S.C. 13631(f )); and (G)''.
(2) Other federally assisted housing.--Section 671 of the
Housing and Community Development Act of 1992 (42 U.S.C. 13631),
as amended by subsection (b) of this section, is further
amended--
(A) in the first sentence of subsection (c), by
inserting after ``response,'' the following: ``education
and outreach regarding telemarketing fraud in accordance
with the standards issued under subsection (f ),''; and
(B) by adding at the end the following:
``(f ) Protection Against Telemarketing Fraud.--
``(1) In <<NOTE: Regulations.>> general.--The Secretary, in
coordination with the Secretary of Health and Human Services,
shall establish standards for service coordinators in federally
assisted housing who
[[Page 114 STAT. 3025]]
are providing education and outreach to elderly persons residing
in such housing regarding telemarketing fraud. The standards
shall be designed to ensure that such education and outreach
informs such elderly persons of the dangers of telemarketing
fraud and facilitates the investigation and prosecution of
telemarketers engaging in fraud against such residents.
``(2) Contents.--The standards established under this
subsection shall require that any such education and outreach be
provided in a manner that--
``(A) informs such residents of--
``(i) the prevalence of telemarketing fraud
targeted against elderly persons;
``(ii) how telemarketing fraud works;
``(iii) how to identify telemarketing fraud;
``(iv) how to protect themselves against
telemarketing fraud, including an explanation of
the dangers of providing bank account, credit
card, or other financial or personal information
over the telephone to unsolicited callers;
``(v) how to report suspected attempts at
telemarketing fraud; and
``(vi) their consumer protection rights under
Federal law;
``(B) provides such other information as the
Secretary considers necessary to protect such residents
against fraudulent telemarketing; and
``(C) disseminates the information provided by
appropriate means, and in determining such appropriate
means, the Secretary shall consider on-site
presentations at federally assisted housing, public
service announcements, a printed manual or pamphlet, an
Internet website, and telephone outreach to residents
whose names appear on `mooch lists' confiscated from
fraudulent telemarketers.''.
Subtitle D--Preservation of Affordable Housing Stock
SEC. 861. SECTION 236 ASSISTANCE.
(a) Extension of Authority to Retain Excess Charges.--Section 236(g)
of the National Housing Act (12 U.S.C. 1715z-1(g)), as amended by the
Departments of Veterans Affairs and Housing and Urban Development, and
Independent Agencies Appropriations Act, 2001, is amended--
(1) in paragraph (2), by striking ``Subject to paragraph (3)
and notwithstanding'' and inserting ``Notwithstanding''; and
(2) by striking paragraph (3) and redesignating paragraph
(4) as paragraph (3).
(b) Treatment of <<NOTE: 12 USC 1715z-1 note.>> Excess Charges
Previously Collected.--Any excess charges that a project owner may
retain pursuant to the amendments made by subsections (b) and (c) of
section 532 of the Departments of Veterans Affairs and Housing and Urban
Development, and Independent Agencies Appropriations Act, 2000 (Public
Law 106-74; 113 Stat. 1116) that have been collected by such owner since
the date of the enactment of such appropriations Act and that such owner
has not remitted to the Secretary of Housing and Urban Development may
be retained by such owner
[[Page 114 STAT. 3026]]
unless such Secretary otherwise provides. To the extent that a project
owner has remitted such excess charges to the Secretary since such date
of the enactment, the Secretary may return to the relevant project owner
any such excess charges remitted. Notwithstanding any other provision of
law, amounts in the Rental Housing Assistance Fund, or heretofore or
subsequently transferred from the Rental Housing Assistance Fund to the
Flexible Subsidy Fund, shall be available to make such return of excess
charges previously remitted to the Secretary, including the return of
excess charges referred to in section 532(e) of such appropriations Act.
TITLE IX--OTHER RELATED HOUSING PROVISIONS
SEC. 901. EXTENSION OF LOAN TERM FOR MANUFACTURED HOME LOTS.
Section 2(b)(3)(E) of the National Housing Act (12 U.S.C.
1703(b)(3)(E)) is amended by striking ``fifteen'' and inserting
``twenty''.
SEC. 902. USE OF SECTION 8 VOUCHERS FOR OPT-OUTS.
(a) In General.--Section 8(t)(2) of the United States Housing Act of
1937 (42 U.S.C. 1437f(t)(2)), as amended by the Departments of Veterans
Affairs and Housing and Urban Development, and Independent Agencies
Appropriations Act, 2001, is amended by striking ``fiscal year 1996''
and inserting ``fiscal year 1994''.
(b) Effective <<NOTE: Applicability. 42 USC 1437f note.>> Date.--
The amendment under subsection (a) shall be made and shall apply--
(1) upon the enactment of this Act, if the Departments of
Veterans Affairs and Housing and Urban Development, and
Independent Agencies Appropriations Act, 2001, is enacted before
the enactment of this Act; and
(2) immediately after the enactment of such appropriations
Act, if such appropriations Act is enacted after the enactment
of this Act.
SEC. 903. MAXIMUM PAYMENT STANDARD FOR ENHANCED VOUCHERS.
(a) In General.--Section 8(t)(1)(B) of the United States Housing Act
of 1937 (42 U.S.C. 1437f(t)(1)(B)), as amended by the Departments of
Veterans Affairs and Housing and Urban Development, and Independent
Agencies Appropriations Act, 2001, is amended by inserting before the
semicolon at the end the following: ``, except that a limit shall not be
considered reasonable for purposes of this subparagraph if it adversely
affects such assisted families''.
(b) Effective <<NOTE: Applicability. 42 USC 1437f note.>> Date.--
The amendment under subsection (a) shall be made and shall apply--
(1) upon the enactment of this Act, if the Departments of
Veterans Affairs and Housing and Urban Development, and
Independent Agencies Appropriations Act, 2001, is enacted before
the enactment of this Act; and
(2) immediately after the enactment of such appropriations
Act, if such appropriations Act is enacted after the enactment
of this Act.
[[Page 114 STAT. 3027]]
SEC. 904. USE OF SECTION 8 ASSISTANCE BY ``GRAND-FAMILIES'' TO RENT
DWELLING UNITS IN ASSISTED PROJECTS.
Section 215(a) of the Cranston-Gonzalez National Affordable Housing
Act (42 U.S.C. 12745(a)) is amended by adding at the end the following
new paragraph:
``(6) Waiver of qualifying rent.--
``(A) In general.--For the purpose of providing
affordable housing appropriate for families described in
subparagraph (B), the Secretary may, upon the
application of the project owner, waive the
applicability of subparagraph (A) of paragraph (1) with
respect to a dwelling unit if--
``(i) the unit is occupied by such a family,
on whose behalf tenant-based assistance is
provided under section 8 of the United States
Housing Act of 1937 (42 U.S.C. 1437f );
``(ii) the rent for the unit is not greater
than the existing fair market rent for comparable
units in the area, as established by the Secretary
under section 8 of the United States Housing Act
of 1937; and
``(iii) the Secretary determines that the
waiver, together with waivers under this paragraph
for other dwelling units in the project, will
result in the use of amounts described in clause
(iii) in an effective manner that will improve the
provision of affordable housing for such families.
``(B) Eligible families.--A family described in this
subparagraph is a family that consists of at least one
elderly person (who is the head of household) and one or
more of such person's grand children, great
grandchildren, great nieces, great nephews, or great
great grandchildren (as defined by the Secretary), but
does not include any parent of such grandchildren, great
grandchildren, great nieces, great nephews, or great
great grandchildren. Such term includes any such
grandchildren, great grandchildren, great nieces, great
nephews, or great great grandchildren who have been
legally adopted by such elderly person.''.
TITLE X--FEDERAL RESERVE BOARD PROVISIONS
SEC. 1001. FEDERAL RESERVE BOARD BUILDINGS.
The third undesignated paragraph of section 10 of the Federal
Reserve Act (12 U.S.C. 243) is amended--
(1) by inserting after the first sentence the following new
sentence: ``After September 1, 2000, the Board may also use such
assessments to acquire, in its own name, a site or building (in
addition to the facilities existing on such date) to provide for
the performance of the functions of the Board.''; and
(2) in the sentences following the sentence added by the
amendment made by paragraph (1) of this section--
(A) by striking ``the site'' and inserting ``any
site''; and
(B) by inserting ``or buildings'' after ``building''
each place such term appears.
[[Page 114 STAT. 3028]]
SEC. 1002. POSITIONS OF BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
ON THE EXECUTIVE SCHEDULE.
(a) In General.--
(1) Positions at level i of the executive schedule.--Section
5312 of title 5, United States Code, is amended by adding at the
end the following:
``Chairman, Board of Governors of the Federal Reserve
System.''.
(2) Positions at level ii of the executive schedule.--
Section 5313 of title 5, United States Code, is amended--
(A) by striking ``Chairman, Board of Governors of
the Federal Reserve System.''; and
(B) by adding at the end the following:
``Members, Board of Governors of the Federal Reserve
System.''.
(3) Positions at level iii of the executive schedule.--
Section 5314 of title 5, United States Code, is amended by
striking ``Members, Board of Governors of the Federal Reserve
System.''.
(b) Effective <<NOTE: 5 USC 5312 note.>> Date.--This section and the
amendments made by this section shall take effect on the first day of
the first pay period for the Chairman and Members of the Board of
Governors of the Federal Reserve System beginning on or after the date
of the enactment of this Act.
SEC. 1003. AMENDMENTS TO THE FEDERAL RESERVE ACT.
(a) Repeal.--Section 2A of the Federal Reserve Act (12 U.S.C. 225a)
is amended by striking all after the first sentence.
(b) Appearances Before and Reports to the Congress.--
(1) In general.--The Federal Reserve Act (12 U.S.C. 221 et
seq.) is amended by inserting after section 2A the following new
section:
``SEC. 2B. <<NOTE: 12 USC 225b.>> APPEARANCES BEFORE AND REPORTS TO THE
CONGRESS.
``(a) Appearances Before the Congress.--
(1) In general.--The Chairman of the Board shall appear
before the Congress at semi-annual hearings, as specified in
paragraph (2), regarding--
``(A) the efforts, activities, objectives and plans
of the Board and the Federal Open Market Committee with
respect to the conduct of monetary policy; and
``(B) economic developments and prospects for the
future described in the report required in subsection
(b).
``(2) Schedule.--The Chairman of the Board shall appear--
``(A) before the Committee on Banking and Financial
Services of the House of Representatives on or about
February 20 of even numbered calendar years and on or
about July 20 of odd numbered calendar years;
``(B) before the Committee on Banking, Housing, and
Urban Affairs of the Senate on or about July 20 of even
numbered calendar years and on or about February 20 of
odd numbered calendar years; and
``(C) before either Committee referred to in
subparagraph (A) or (B), upon request, following the
scheduled appearance of the Chairman before the other
Committee under subparagraph (A) or (B).
[[Page 114 STAT. 3029]]
``(b) Congressional Report.--The Board shall, concurrent with each
semi-annual hearing required by this section, submit a written report to
the Committee on Banking, Housing, and Urban Affairs of the Senate and
the Committee on Banking and Financial Services of the House of
Representatives, containing a discussion of the conduct of monetary
policy and economic developments and prospects for the future, taking
into account past and prospective developments in employment,
unemployment, production, investment, real income, productivity,
exchange rates, international trade and payments, and prices.''.
TITLE XI--BANKING <<NOTE: Federal Reporting Act of 2000.>> AND HOUSING
AGENCY REPORTS
SEC. 1101. SHORT TITLE.
This title may be cited as the ``Federal Reporting Act of 2000''.
SEC. 1102. <<NOTE: 31 USC 1113 note.>> PRESERVATION OF CERTAIN REPORTING
REQUIREMENTS.
Section 3003(a)(1) of the Federal Reports Elimination and Sunset Act
of 1995 (31 U.S.C. 1113 note) shall not apply to any report required to
be submitted under any of the following provisions of law:
(1) Section 3 of the Employment Act of 1946 (15 U.S.C.
1022).
(2) Section 309 of the Defense Production Act of 1950 (50
U.S.C. App. 2099).
(3) Section 603 of the Public Works and Economic Development
Act of 1965 (42 U.S.C. 3213).
(4) Section 7(o)(1) of the Department of Housing and Urban
Development Act (42 U.S.C. 3535(o)(1)).
(5) Section 540(c) of the National Housing Act (12 U.S.C.
1735f-18(c)).
(6) Paragraphs (2) and (6) of section 808(e) of the Civil
Rights Act of 1968 (42 U.S.C. 3608(e)).
(7) Section 1061 of the Housing and Community Development
Act of 1992 (42 U.S.C. 4856).
(8) Section 203(v) of the National Housing Act (12 U.S.C.
1709(v)), as added by section 504 of the Housing and Community
Development Act of 1992 (Public Law 102-550; 106 Stat. 3780).
(9) Section 802 of the Housing Act of 1954 (12 U.S.C.
1701o).
(10) Section 8 of the Department of Housing and Urban
Development Act (42 U.S.C. 3536).
(11) Section 1320 of the National Flood Insurance Act of
1968 (42 U.S.C. 4027).
(12) Section 4(e)(2) of the Department of Housing and Urban
Development Act (42 U.S.C. 3533(e)(2)).
(13) Section 205(g) of the National Housing Act (12 U.S.C.
1711(g)).
(14) Section 701(c)(1) of the International Financial
Institutions Act (22 U.S.C. 262d(c)(1)).
(15) Paragraphs (1) and (2) of section 5302(c) of title 31,
United States Code.
(16) Section 18(f )(7) of the Federal Trade Commission Act
(15 U.S.C. 57a(f )(7)).
[[Page 114 STAT. 3030]]
(17) Section 333 of the Revised Statutes of the United
States (12 U.S.C. 14).
(18) Section 3(g) of the Home Owners' Loan Act (12 U.S.C.
1462a(g)).
(19) Section 304 of the Appalachian Regional Development Act
of 1965 (40 U.S.C. App. 304).
(20) Sections 2(b)(1)(A), 8(a), 8(c), 10(g)(1), and 11(c) of
the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(A),
635g(a), 635g(c), 635i-3(g), and 635i-5(c)).
(21) Section 17(a) of the Federal Deposit Insurance Act (12
U.S.C. 1827(a)).
(22) Section 13 of the Federal Financing Bank Act of 1973
(12 U.S.C. 2292).
(23) Section 2B(d) of the Federal Home Loan Bank Act (12
U.S.C. 1422b(d)).
(24) Section 1002(b) of the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989 (12 U.S.C. 1811 note).
(25) Section 8 of the Fair Credit and Charge Card Disclosure
Act of 1988 (15 U.S.C. 1637 note).
(26) Section 136(b)(4)(B) of the Truth in Lending Act (15
U.S.C. 1646(b)(4)(B)).
(27) Section 707 of the Equal Credit Opportunity Act (15
U.S.C. 1691f ).
(28) Section 114 of the Truth in Lending Act (15 U.S.C.
1613).
(29) The seventh undesignated paragraph of section 10 of the
Federal Reserve Act (12 U.S.C. 247).
(30) The tenth undesignated paragraph of section 10 of the
Federal Reserve Act (12 U.S.C. 247a).
(31) Section 815 of the Fair Debt Collection Practices Act
(15 U.S.C. 1692m).
(32) Section 102(d) of the Federal Credit Union Act (12
U.S.C. 1752a(d)).
(33) Section 21B(i) of the Federal Home Loan Bank Act (12
U.S.C. 1441b(i)).
(34) Section 607(a) of the Housing and Community Development
Amendments of 1978 (42 U.S.C. 8106(a)).
(35) Section 708(l) of the Defense Production Act of 1950
(50 U.S.C. App. 2158(l)).
(36) Section 2546 of the Comprehensive Thrift and Bank Fraud
Prosecution and Taxpayer Recovery Act of 1990 (28 U.S.C. 522
note).
(37) Section 202(b)(8) of the National Housing Act (12
U.S.C. 1708(b)(8)).
SEC. 1103. COORDINATION OF REPORTING REQUIREMENTS.
(a) Federal Deposit Insurance Corporation.--Section 17(a) of the
Federal Deposit Insurance Act (12 U.S.C. 1827(a)) is amended by adding
at the end the following new paragraph:
``(3) Coordination with other report requirements.--The
report required under this subsection shall include the report
required under section 18(f )(7) of the Federal Trade Commission
Act.''.
(b) Board of Governors of the Federal Reserve System.--The seventh
undesignated paragraph of section 10 of the Federal Reserve Act (12
U.S.C. 247) is amended by adding at the end
[[Page 114 STAT. 3031]]
the following new sentence: ``The report required under this paragraph
shall include the reports required under section 707 of the Equal Credit
Opportunity Act, section 18(f )(7) of the Federal Trade Commission Act,
section 114 of the Truth in Lending Act, and the tenth undesignated
paragraph of this section.''.
(c) Comptroller of the Currency.--Section 333 of the Revised
Statutes of the United States (12 U.S.C. 14) is amended by adding at the
end the following new sentence: ``The report required under this section
shall include the report required under section 18(f )(7) of the Federal
Trade Commission Act.''.
(d) Export-Import Bank.--
(1) In general.--Section 2(b)(1)(A) of the Export-Import
Bank Act of 1945 (12 U.S.C. 635(b)(1)(A)) is amended--
(A) by striking ``a annual'' and inserting ``an
annual''; and
(B) by adding at the end the following new sentence:
``The annual report required under this subparagraph
shall include the report required under section
10(g).''.
(2) Technical and conforming amendment.--Section 10(g)(1) of
the Export-Import Bank Act of 1945 (12 U.S.C. 635i-3(g)(1)) is
amended--
(A) by striking ``On or'' and all that follows
through ``the Bank'' and inserting ``The Bank''; and
(B) by striking ``a report'' and inserting ``an
annual report''.
(e) Department of Housing and Urban Development.--Section 8 of the
Department of Housing and Urban Development Act (42 U.S.C. 3536) is
amended by adding at the end the following new sentence: ``The report
required under this section shall include the reports required under
paragraphs (2) and (6) of section 808(e) of the Civil Rights Act of
1968, the reports required under subsections (a) and (b) of section 1061
of the Housing and Community Development Act of 1992, the report
required under section 802 of the Housing Act of 1954, and the report
required under section 4(e)(2) of this Act.''.
(f ) Federal Housing Administration.--Section 203(v) of the National
Housing Act (12 U.S.C. 1709(v)), as added by section 504 of the Housing
and Community Development Act of 1992, is amended by adding at the end
the following new sentence:
``The report required under this subsection shall include the report
required under section 540(c) and the report required under section
205(g).''.
(g) International Financial Institutions Act.--Section 701(c)(1) of
the International Financial Institutions Act (22 U.S.C. 262d(c)(1)) is
amended by striking ``Not later'' and all that follows through
``quarterly'' and inserting ``The Secretary of the Treasury shall report
annually''.
SEC. 1104. ELIMINATION OF CERTAIN REPORTING REQUIREMENTS.
(a) Export-Import Bank.--The Export-Import Bank Act of 1945 (12
U.S.C. 635 et seq.) is amended--
(1) in <<NOTE: 12 USC 635.>> section 2(b)(1)(D)--
(A) by striking ``(i)''; and
(B) by striking clause (ii);
(2) in section 2(b)(8), by striking the last sentence;
(3) in <<NOTE: 12 USC 635e.>> section 6(b), by striking
paragraph (2) and redesignating paragraph (3) as paragraph (2);
and
[[Page 114 STAT. 3032]]
(4) in section 8, <<NOTE: 12 USC 635g.>> by striking
subsections (b) and (d) and redesignating subsections (c) and
(e) as subsections (b) and (c), respectively.
(b) Federal Deposit Insurance Corporation.--Section 17 of the
Federal Deposit Insurance Act (12 U.S.C. 1827) is amended by striking
subsection (h).
TITLE XII--FINANCIAL <<NOTE: Financial Regulatory Relief and Economic
Efficiency Act of 2000.>> REGULATORY RELIEF
SEC. 1200. <<NOTE: 12 USC 1811 note.>> SHORT TITLE.
This title may be cited as the ``Financial Regulatory Relief and
Economic Efficiency Act of 2000''.
Subtitle A--Improving Monetary Policy and Financial Institution
Management Practices
SEC. 1201. REPEAL OF SAVINGS ASSOCIATION LIQUIDITY PROVISION.
(a) Repeal of Liquidity Provision.--Section 6 of the Home Owners'
Loan Act (12 U.S.C. 1465) is hereby repealed.
(b) Conforming Amendments.--
(1) Section 5.--Section 5(c)(1)(M) of the Home Owners' Loan
Act (12 U.S.C. 1464(c)(1)(M)) is amended to read as follows:
``(M) Liquidity investments.--Investments (other
than equity investments), identified by the Director,
for liquidity purposes, including cash, funds on deposit
at a Federal reserve bank or a Federal home loan bank,
or bankers' acceptances.''.
(2) Section 10.--Section 10(m)(4)(B)(iii) of the Home
Owners' Loan Act (12 U.S.C. 1467a(m)(4)(B)(iii)) is amended by
inserting ``as in effect on the day before the date of the
enactment of the Financial Regulatory Relief and Economic
Efficiency Act of 2000,'' after ``Loan Act,''.
SEC. 1202. NONCONTROLLING INVESTMENTS BY SAVINGS ASSOCIATION HOLDING
COMPANIES.
Section 10(e)(1)(A)(iii) of the Home Owners' Loan Act (12 U.S.C.
1467a(e)(1)(A)(iii)) is amended--
(1) by inserting ``, except with the prior written approval
of the Director,'' after ``or to retain''; and
(2) by striking ``so acquire or retain'' and inserting
``acquire or retain, and the Director may not authorize
acquisition or retention of,''.
SEC. 1203. REPEAL OF DEPOSIT BROKER NOTIFICATION AND RECORDKEEPING
REQUIREMENT.
Section 29A of the Federal Deposit Insurance Act (12 U.S.C. 1831f-1)
is hereby repealed.
[[Page 114 STAT. 3033]]
SEC. 1204. EXPEDITED PROCEDURES FOR CERTAIN REORGANIZATIONS.
The National Bank Consolidation and Merger Act (12 U.S.C. 215 et
seq.) is amended--
(1) by redesignating <<NOTE: 12 USC 215b.>> section 5 as
section 7; and
(2) by inserting after section 4 the following new section:
``SEC. 5. <<NOTE: 12 USC 215a-2.>> EXPEDITED PROCEDURES FOR CERTAIN
REORGANIZATIONS.
``(a) In General.--A national bank may, with the approval of the
Comptroller, pursuant to rules and regulations promulgated by the
Comptroller, and upon the affirmative vote of the shareholders of such
bank owning at least two-thirds of its capital stock outstanding,
reorganize so as to become a subsidiary of a bank holding company or of
a company that will, upon consummation of such reorganization, become a
bank holding company.
``(b) Reorganization Plan.--A reorganization authorized under
subsection (a) shall be carried out in accordance with a reorganization
plan that--
``(1) specifies the manner in which the reorganization shall
be carried out;
``(2) is approved by a majority of the entire board of
directors of the national bank;
``(3) specifies--
``(A) the amount of cash or securities of the bank
holding company, or both, or other consideration to be
paid to the shareholders of the reorganizing bank in
exchange for their shares of stock of the bank;
``(B) the date as of which the rights of each
shareholder to participate in such exchange will be
determined; and
``(C) the manner in which the exchange will be
carried out; and
``(4) is submitted to the shareholders of the reorganizing
bank at a meeting to be held on the call of the directors in
accordance with the procedures prescribed in connection with a
merger of a national bank under section 3.
``(c) Rights of Dissenting Shareholders.--If, pursuant to this
section, a reorganization plan has been approved by the shareholders and
the Comptroller, any shareholder of the bank who has voted against the
reorganization at the meeting referred to in subsection (b)(4), or has
given notice in writing at or prior to that meeting to the presiding
officer that the shareholder dissents from the reorganization plan,
shall be entitled to receive the value of his or her shares, as provided
by section 3 for the merger of a national bank.
``(d) Effect of Reorganization.--The corporate existence of a
national bank that reorganizes in accordance with this section shall not
be deemed to have been affected in any way by reason of such
reorganization.
``(e) Approval Under the Bank Holding Company Act.--This section
does not affect in any way the applicability of the Bank Holding Company
Act of 1956 to a transaction described in subsection (a).''.
SEC. 1205. NATIONAL BANK DIRECTORS.
(a) Amendments to the Revised Statutes.--Section 5145 of the Revised
Statutes of the United States (12 U.S.C. 71) is amended--
[[Page 114 STAT. 3034]]
(1) by striking ``for one year'' and inserting ``for a
period of not more than 3 years''; and
(2) by adding at the end the following: ``In accordance with
regulations issued by the Comptroller of the Currency, a
national bank may adopt bylaws that provide for staggering the
terms of its directors.''.
(b) Amendment to the Banking Act of 1933.--Section 31 of the Banking
Act of 1933 (12 U.S.C. 71a) is amended in the first sentence, by
inserting before the period ``, except that the Comptroller of the
Currency may, by regulation or order, exempt a national bank from the
25-member limit established by this section''.
SEC. 1206. AMENDMENT TO NATIONAL BANK CONSOLIDATION AND MERGER ACT.
The National Bank Consolidation and Merger Act (12 U.S.C. 215 et
seq.) is amended by inserting after section 5, as added by this title,
the following new section:
``SEC. 6. <<NOTE: 12 USC 215a-3.>> MERGERS AND CONSOLIDATIONS WITH
SUBSIDIARIES AND NONBANK AFFILIATES.
``(a) In General.--Upon the approval of the Comptroller, a national
bank may merge with one or more of its nonbank subsidiaries or
affiliates.
``(b) Scope.--Nothing in this section shall be construed--
``(1) to affect the applicability of section 18(c) of the
Federal Deposit Insurance Act; or
``(2) to grant a national bank any power or authority that
is not permissible for a national bank under other applicable
provisions of law.
``(c) Regulations.--The Comptroller shall promulgate regulations to
implement this section.''.
SEC. 1207. LOANS ON OR PURCHASES BY INSTITUTIONS OF THEIR OWN STOCK;
AFFILIATIONS.
(a) Amendment to the Revised Statutes.--Section 5201 of the Revised
Statutes of the United States (12 U.S.C. 83) is amended to read as
follows:
``SEC. 5201. LOANS BY BANK ON ITS OWN STOCK.
``(a) General Prohibition.--No national bank shall make any loan or
discount on the security of the shares of its own capital stock.
``(b) Exclusion.--For purposes of this section, a national bank
shall not be deemed to be making a loan or discount on the security of
the shares of its own capital stock if it acquires the stock to prevent
loss upon a debt previously contracted for in good faith.''.
(b) Amendments to the Federal Deposit Insurance Act.--Section 18 of
the Federal Deposit Insurance Act (12 U.S.C. 1828) is amended--
(1) by redesignating subsection (t), as added by section 730
of the Gramm-Leach-Bliley Act (Public Law 106-102; 113 Stat.
1476), as subsection (u); and
(2) by adding at the end the following new subsection:
``(v) Loans by Insured Institutions on Their Own Stock.--
``(1) General prohibition.--No insured depository
institution may make any loan or discount on the security of the
shares of its own capital stock.
[[Page 114 STAT. 3035]]
``(2) Exclusion.--For purposes of this subsection, an
insured depository institution shall not be deemed to be making
a loan or discount on the security of the shares of its own
capital stock if it acquires the stock to prevent loss upon a
debt previously contracted for in good faith.''.
SEC. 1208. PURCHASED MORTGAGE SERVICING RIGHTS.
Section 475 of the Federal Deposit Insurance Corporation Improvement
Act of 1991 (12 U.S.C. 1828 note) is amended--
(1) in subsection (a)(1), by inserting ``(or such other
percentage exceeding 90 percent but not exceeding 100 percent,
as may be determined under subsection (b))'' after ``90
percent'';
(2) by redesignating subsections (b) and (c) as subsections
(c) and (d), respectively, and by inserting after subsection (a)
the following new subsection:
``(b) Authority To Determine Percentage by Which To Discount Value
of Servicing Rights.--The appropriate Federal banking agencies may allow
readily marketable purchased mortgage servicing rights to be valued at
more than 90 percent of their fair market value but at not more than 100
percent of such value, if such agencies jointly make a finding that such
valuation would not have an adverse effect on the deposit insurance
funds or the safety and soundness of insured depository institutions.'';
and
(3) in subsection (c), by striking ``and'' and inserting ``,
`deposit insurance fund', and''.
Subtitle B--Streamlining Activities of Institutions
SEC. 1211. <<NOTE: 25 USC 4805a.>> CALL REPORT SIMPLIFICATION.
(a) Modernization of Call Report Filing and Disclosure System.--In
order to reduce the administrative requirements pertaining to bank
reports of condition, savings association financial reports, and bank
holding company consolidated and parent-only financial statements, and
to improve the timeliness of such reports and statements, the Federal
banking agencies shall--
(1) work jointly to develop a system under which--
(A) insured depository institutions and their
affiliates may file such reports and statements
electronically; and
(B) the Federal banking agencies may make such
reports and statements available to the public
electronically; and
(2) not later than <<NOTE: Deadline.>> 1 year after the date
of the enactment of this Act, report to the Congress and make
recommendations for legislation that would enhance efficiency
for filers and users of such reports and statements.
(b) Uniform Reports and Simplification of Instructions.--The Federal
banking agencies shall, consistent with the principles of safety and
soundness, work jointly--
(1) to adopt a single form for the filing of core
information required to be submitted under Federal law to all
such agencies in the reports and statements referred to in
subsection (a); and
(2) to simplify instructions accompanying such reports and
statements and to provide an index to the instructions that is
adequate to meet the needs of both filers and users.
[[Page 114 STAT. 3036]]
(c) Review of Call Report Schedule.--Each Federal banking agency
shall--
(1) review the information required by schedules
supplementing the core information referred to in subsection
(b); and
(2) eliminate requirements that are not warranted for
reasons of safety and soundness or other public purposes.
(d) Definition.--In this section, the term ``Federal banking
agency'' has the same meaning as in section 3 of the Federal Deposit
Insurance Act (12 U.S.C. 1813).
Subtitle C--Streamlining Agency Actions
SEC. 1221. ELIMINATION OF DUPLICATIVE DISCLOSURE OF FAIR MARKET VALUE OF
ASSETS AND LIABILITIES.
Section 37(a)(3) of the Federal Deposit Insurance Act (12 U.S.C.
1831n(a)(3)) is amended by striking subparagraph (D).
SEC. 1222. PAYMENT OF INTEREST IN RECEIVERSHIPS WITH SURPLUS FUNDS.
Section 11(d)(10) of the Federal Deposit Insurance Act (12 U.S.C.
1821(d)(10)) is amended by adding at the end the following new
subparagraph:
``(C) Rulemaking authority of corporation.--The
Corporation may prescribe such rules, including
definitions of terms, as it deems appropriate to
establish a single uniform interest rate for or to make
payments of post insolvency interest to creditors
holding proven claims against the receivership estates
of insured Federal or State depository institutions
following satisfaction by the receiver of the principal
amount of all creditor claims.''.
SEC. 1223. REPEAL OF REPORTING REQUIREMENT ON DIFFERENCES IN ACCOUNTING
STANDARDS.
Section 37(c) of the Federal Deposit Insurance Act (12 U.S.C.
1831n(c)) is amended--
(1) in paragraph (1), by striking ``Each'' and all that
follows through ``a report'' and inserting ``The Federal banking
agencies shall jointly submit an annual report''; and
(2) by inserting ``any'' before ``such agency'' each place
that term appears.
SEC. 1224. EXTENSION OF TIME.
Section 6(a)(1) of the Federal Home Loan Bank Act (12 U.S.C.
1426(a)(1)) is amended by striking ``1 year'' and inserting ``18
months''.
Subtitle D--Technical Corrections
SEC. 1231. TECHNICAL CORRECTION RELATING TO DEPOSIT INSURANCE FUNDS.
(a) In General.--Section 2707 of the Deposit Insurance Funds Act of
1996 <<NOTE: 12 USC 1817.>> (Public Law 104-208; 110 Stat. 3009-496) is
amended--
(1) by striking ``7(b)(2)(C)'' and inserting ``7(b)(2)(E)'';
and
(2) by striking ``, as redesignated by section 2704(d)(6) of
this subtitle''.
[[Page 114 STAT. 3037]]
(b) Effective Date.--The <<NOTE: 12 USC 1817 note.>> amendments made
by subsection (a) shall be deemed to have the same effective date as
section 2707 of the Deposit Insurance Funds Act of 1996 (Public Law 104-
208; 110 Stat. 3009-496).
SEC. 1232. RULES FOR CONTINUATION OF DEPOSIT INSURANCE FOR MEMBER BANKS
CONVERTING CHARTERS.
Section 8(o) of the Federal Deposit Insurance Act (12 U.S.C.
1818(o)) is amended in the second sentence, by striking ``subsection (d)
of section 4'' and inserting ``subsection (c) or (d) of section 4''.
SEC. 1233. AMENDMENTS TO THE REVISED STATUTES OF THE UNITED STATES.
(a) Waiver of Citizenship Requirement for National Bank Directors.--
Section 5146 of the Revised Statutes of the United States (12 U.S.C. 72)
is amended in the first sentence, by inserting before the period ``, and
waive the requirement of citizenship in the case of not more than a
minority of the total number of directors''.
(b) Technical Amendment to the Revised Statutes.--Section 329 of the
Revised Statutes of the United States (12 U.S.C. 11) is amended by
striking ``to be interested in any association issuing national currency
under the laws of the United States'' and inserting ``to hold an
interest in any national bank''.
(c) Repeal of Unnecessary Capital and Surplus Requirement.--Section
5138 of the Revised Statutes of the United States (12 U.S.C. 51) is
hereby repealed.
SEC. 1234. CONFORMING CHANGE TO THE INTERNATIONAL BANKING ACT OF 1978.
Section 4(b) of the International Banking Act of 1978 (12 U.S.C.
3102(b)) is amended in the second sentence, by striking paragraph (1)
and by redesignating paragraphs (2) through (4) as paragraphs (1)
through (3), respectively.
Approved December 27, 2000.
LEGISLATIVE HISTORY--H.R. 5640 (H.R. 1776):
---------------------------------------------------------------------------
HOUSE REPORTS: Nos. 106-553 and Pt. 2 accompanying H.R. 1776 (Comm. on
Banking and Financial Services).
CONGRESSIONAL RECORD, Vol. 146 (2000):
Dec. 5, considered and passed House.
Dec. 7, considered and passed Senate.
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