[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9990 Introduced in House (IH)]

<DOC>






118th CONGRESS
  2d Session
                                H. R. 9990

 To increase access to affordable housing, reduce regulatory barriers, 
          increase oversight, and assist the most vulnerable.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 15, 2024

 Mr. Hill (for himself, Mr. Fitzgerald, Mr. Rose, Mr. Lawler, Mr. Nunn 
   of Iowa, and Mr. Meuser) introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To increase access to affordable housing, reduce regulatory barriers, 
          increase oversight, and assist the most vulnerable.

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

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Renewing 
Opportunity in the American Dream to Housing Act'' or the ``ROAD to 
Housing Act''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
                 TITLE I--IMPROVING FINANCIAL LITERACY

Sec. 101. Reforms to housing counseling and financial literacy 
                            programs.
                 TITLE II--INCREASING ACCESS TO HOUSING

Sec. 201. Rental assistance demonstration program.
Sec. 202. Creating incentives for small dollar loan originators.
Sec. 203. Small dollar mortgage points and fees.
                   TITLE III--REGULATORY FLEXIBILITY

Sec. 301. Authorization of Moving to Work Program.
Sec. 302. Improving self-sufficiency of families in HUD-subsidized 
                            housing.
Sec. 303. Updating the definition of manufactured home.
                 TITLE IV--SERVING THE MOST VULNERABLE

Sec. 401. Incentivizing local solutions to homelessness.
                     TITLE V--PROMOTING OPPORTUNITY

Sec. 501. Increasing housing in opportunity zones.
                       TITLE VI--GOOD GOVERNANCE

Sec. 601. Requiring annual testimony and oversight from housing 
                            regulators.
Sec. 602. FHA reporting requirements on safety and soundness.
Sec. 603. United States Interagency Council on Homelessness.
Sec. 604. Neighborhood Reinvestment Corporation oversight.

                 TITLE I--IMPROVING FINANCIAL LITERACY

SEC. 101. REFORMS TO HOUSING COUNSELING AND FINANCIAL LITERACY 
              PROGRAMS.

    (a) In General.--Section 106 of the Housing and Urban Development 
Act of 1968 (12 U.S.C. 1701x) is amended--
            (1) in subsection (a)(4)--
                    (A) in subparagraph (B), by striking ``subparagraph 
                (D)'' and inserting ``subparagraph (E)'';
                    (B) in subparagraph (C), by striking ``adequate 
                distribution'' and all that follows through 
                ``foreclosure rates'' and inserting ``that the 
                recipients are geographically diverse and include 
                organizations that serve urban or rural areas'';
                    (C) by redesignating subparagraphs (D), (E), and 
                (F) as subparagraphs (E), (F), and (G), respectively; 
                and
                    (D) by inserting after subparagraph (C) the 
                following:
                    ``(D) Priority consideration.--In distributing 
                assistance made available under this paragraph, the 
                Secretary shall give priority consideration to entities 
                serving areas with the highest home foreclosure 
                rates.''.
            (2) in subsection (e), by adding at the end the following:
            ``(6) Considerations.--
                    ``(A) Covered mortgage loan defined.--In this 
                paragraph, the term `covered mortgage loan' means any 
                loan which is secured by a first or subordinate lien on 
                residential real property (including individual units 
                of condominiums and cooperatives) designed principally 
                for the occupancy of from 1- to 4-families that is--
                            ``(i) insured by the Federal Housing 
                        Administration under title II of the National 
                        Housing Act (12 U.S.C. 1707 et seq.); or
                            ``(ii) guaranteed under section 184 or 184A 
                        of the Housing and Community Development Act of 
                        1992 (12 U.S.C. 1715z-13a, 1715z-13b).
                    ``(B) Comparison.--For each counselor employed by 
                an organization receiving assistance under this 
                section, the Secretary shall consider the competence of 
                the counselor compared to the default rate of all 
                counseled borrowers of a covered mortgage loan in 
                comparable markets, and such other factors as the 
                Secretary determines appropriate to further the 
                purposes of this section.
            ``(7) Suspension of certification.--If, based on the 
        comparison required under paragraph (6)(B), the Secretary 
        determines that a counselor lacks competence to provide 
        counseling in the areas described in subsection (e)(2), the 
        Secretary may--
                    ``(A) require retesting of the individual; or
                    ``(B) suspend the certification under this 
                subsection for the individual.''; and
            (3) in subsection (i)--
                    (A) by redesignating paragraph (3) as paragraph 
                (4); and
                    (B) by inserting after paragraph (2) the following:
            ``(3) Termination of assistance.--
                    ``(A) In general.--The Secretary may deny future 
                covered assistance to an organization or entity 
                receiving covered assistance if the Secretary 
                determines that the organization or entity, or the 
                individual through which the organization or entity 
                provides such counseling, presents an unacceptable risk 
                to families accessing counseling services or the 
                programs under which covered mortgage loans (as defined 
                in subsection (e)(6)(A)), which determination shall 
                be--
                            ``(i) based on the comparison required 
                        under subsection (e)(6)(B); and
                            ``(ii) made in accordance with regulations 
                        issued by the Secretary.
                    ``(B) Notice.--
                            ``(i) In general.--The Secretary shall give 
                        an organization or entity receiving covered 
                        assistance at least 60 days prior written 
                        notice of any termination under this paragraph, 
                        and the termination shall take effect at the 
                        end of the notice period, unless the Secretary 
                        withdraws the termination notice or extends the 
                        notice period.
                            ``(ii) Informal conference.--If requested 
                        in writing by the organization or entity within 
                        30 days of the date of the notice described in 
                        clause (i), the organization or entity shall be 
                        entitled to an informal conference with the 
                        official authorized to issue termination 
                        notices on behalf of the Secretary (or a 
                        designee of that official) at which the 
                        organization or entity may present for 
                        consideration specific factors that the 
                        organization or entity believes were beyond the 
                        control of the organization or entity and that 
                        caused the excessive default rates.''.
    (b) Offering Foreclosure Mitigation Counseling.--
            (1) Covered mortgage loan defined.--In this subsection, the 
        term ``covered mortgage loan'' means any loan which is secured 
        by a first or subordinate lien on residential real property 
        (including individual units of condominiums and cooperatives) 
        designed principally for the occupancy of from 1- to 4-families 
        that is--
                    (A) insured by the Federal Housing Administration 
                under title II of the National Housing Act (12 U.S.C. 
                1707 et seq.);
                    (B) guaranteed under section 184 or 184A of the 
                Housing and Community Development Act of 1992 (12 
                U.S.C. 1715z-13a, 1715z-13b);
                    (C) made, guaranteed, or insured by the Department 
                of Veterans Affairs; or
                    (D) made, guaranteed, or insured by the Department 
                of Agriculture.
            (2) Opportunity for borrowers.--A borrower with respect to 
        a covered mortgage loan who is 60 days or more delinquent on 
        payments for the covered mortgage loan shall be given an 
        opportunity to participate in housing counseling.
            (3) Cost.--The cost of counseling for delinquent borrowers 
        described in paragraph (2) with respect to a covered mortgage 
        loan described in paragraph (1)(A) shall be paid for by the 
        Mutual Mortgage Insurance Fund, as authorized under section 
        203(r)(4) of the National Housing Act (12 U.S.C. 1709(r)(4)).

                 TITLE II--INCREASING ACCESS TO HOUSING

SEC. 201. RENTAL ASSISTANCE DEMONSTRATION PROGRAM.

    The language under the heading ``Rental Assistance Demonstration'' 
in the Department of Housing and Urban Development Appropriations Act, 
2012 (Public Law 112-55), is amended--
            (1) by striking the second proviso; and
            (2) by striking the fourth proviso.

SEC. 202. CREATING INCENTIVES FOR SMALL DOLLAR LOAN ORIGINATORS.

    (a) Small Dollar Mortgage Defined.--In this section, the term 
``small dollar mortgage'' means a mortgage loan having an original 
principal obligation of not more than $70,000 that is--
            (1) secured by real property designed for the occupancy of 
        1- to 4-families; and
            (2)(A) insured by the Federal Housing Administration under 
        title II of the National Housing Act (12 U.S.C. 1707 et seq.);
            (B) made, guaranteed, or insured by the Department of 
        Veterans Affairs;
            (C) made, guaranteed, or insured by the Department of 
        Agriculture; or
            (D) eligible to be purchased or securitized by the Federal 
        Home Loan Mortgage Corporation or the Federal National Mortgage 
        Association.
    (b) Requirement To Update Regulations.--Not later than 270 days 
after the date of enactment of this Act, the Director of the Bureau of 
Consumer Financial Protection shall issue regulations to update part 
1026 of title 12, Code of Federal Regulations (commonly referred to as 
``Regulation Z'') to provide flexibilities for loan originator 
compensation that encourage origination of small dollar mortgages.

SEC. 203. SMALL DOLLAR MORTGAGE POINTS AND FEES.

    (a) Definition.--In this section, the term ``small dollar 
mortgage'' means a mortgage with an original principal obligation of 
less than $70,000.
    (b) Amendments Required.--Not later than 270 days after the date of 
enactment of this Act, the Director of the Bureau of Consumer Financial 
Protection, in consultation with the Secretary of Housing and Urban 
Development and the Director of the Federal Housing Finance Agency, 
shall amend the limitations with respect to points and fees under 
section 1026.43 of title 12, Code of Federal Regulations, or any 
successor regulation, to encourage additional lending for small dollar 
mortgages.

                   TITLE III--REGULATORY FLEXIBILITY

SEC. 301. AUTHORIZATION OF MOVING TO WORK PROGRAM.

    (a) Program Reforms.--Section 204 of the Departments of Veterans 
Affairs and Housing and Urban Development, and Independent Agencies 
Appropriations Act, 1996 (42 U.S.C. 1437f note) is amended--
            (1) in the section heading, by striking ``demonstration'' 
        and inserting ``program'';
            (2) by striking subsection (a) and inserting the following:
    ``(a) Purposes.--The purposes of the program under this section are 
as follows:
            ``(1) Economic independence.--To develop measures to 
        promote economic independence for families with children whose 
        head of household is working, seeking work, or preparing for 
        work, and for persons who are able to work, to obtain 
        employment and become economically independent, by 
        participating in job training, educational programs, or other 
        supportive services and programs that assist in meeting such 
        goal.
            ``(2) Flexibility and cost-effectiveness.--To give public 
        housing agencies and the Secretary of Housing and Urban 
        Development the flexibility to design and implement various 
        approaches for providing and administering housing assistance 
        that reduce cost and achieve greater cost effectiveness in 
        Federal expenditures.
            ``(3) Housing choice.--To increase housing choices for low-
        income families.'';
            (3) in subsection (b)--
                    (A) by striking ``(b) Program Authority.--The 
                Secretary'' and inserting the following:
    ``(b) Program Authority.--
            ``(1) In general.--The Secretary'';
                    (B) in the first sentence, by striking ``conduct a 
                demonstration program'' and all that follows through 
                ``Indian housing program and'' and inserting ``carry 
                out a program under this section under which public 
                housing agencies administering the public housing 
                program or'';
                    (C) by inserting after the first sentence the 
                following: ``There shall be no limitation on the number 
                of public housing agencies that may participate in the 
                program under this section.'';
                    (D) by striking ``The Secretary shall'' and all 
                that follows through ``demonstration.'' and inserting 
                the following:
            ``(2) Identification of replicable models.--The Secretary 
        shall provide training and technical assistance under the 
        program and conduct detailed evaluations of various agencies to 
        identify replicable program models promoting the purposes of 
        the program.'';
                    (E) by striking ``Under the demonstration'' and 
                inserting the following:
            ``(3) Combination of assistance.--Under the program under 
        this section''; and
                    (F) by striking ``operating assistance provided 
                under section 9 of the United States Housing Act of 
                1937, modernization assistance provided under section 
                14'' and inserting ``amounts provided to the agency 
                from the Operating Fund under section 9(e) of the 
                United States Housing Act of 1937, amounts provided to 
                the agency from the Capital Fund under section 9(d)'';
            (4) in subsection (c)--
                    (A) in the matter preceding paragraph (1), by 
                striking ``demonstration'' and inserting ``program 
                under this section'';
                    (B) in paragraph (1), by striking ``9, and 14'' and 
                inserting ``9(d), and 9(e)'';
                    (C) in paragraph (3)--
                            (i) in subparagraph (A), by striking 
                        ``demonstration'';
                            (ii) in subparagraph (B)--
                                    (I) by striking ``self-
                                sufficiency'' and inserting ``economic 
                                independence''; and
                                    (II) by striking ``purpose of this 
                                demonstration'' and inserting ``purpose 
                                of the program under subsection 
                                (a)(1)'';
                            (iii) in subparagraph (D), by striking 
                        ``demonstration'' and inserting ``program under 
                        this section;'';
                            (iv) in subparagraph (E), by striking 
                        ``demonstration program'' and inserting 
                        ``program under this section'';
                            (v) by redesignating subparagraphs (A), 
                        (B), (C), (D), and (E) as subparagraphs (B), 
                        (C), (D), (G), and (H), respectively;
                            (vi) by inserting before subparagraph (B), 
                        as so redesignated, the following:
                    ``(A) actions to be taken under the proposed 
                program to achieve the purposes of the program under 
                paragraphs (1), (2), and (3) of subsection (a);''; and
                            (vii) by inserting after subparagraph (D), 
                        as so redesignated, the following:
                    ``(E) hardship exceptions consistent with the 
                purposes under subsection (a) under which tenants may 
                be temporarily exempted from compliance with the 
                program operated by the agency in the event of 
                extenuating circumstances preventing such compliance 
                and a process that provides tenants with recourse to a 
                speedy determination regarding such an exception and 
                makes available the contents and results of such a 
                determination available to the public and the board of 
                directors or other governing body on request of the 
                tenant concerned and the director or other head 
                official of the agency;
                    ``(F) providing assisted families and participants 
                in the program operated by the agency with an informal 
                administrative hearing or grievance process, prior to 
                any eviction or termination of assistance, which 
                process shall make the content and determination of the 
                hearing available to the public and the board of 
                directors or other governing body on request of the 
                tenant concerned and the director or other head 
                official of the agency;''; and
                    (D) in paragraph (4), by striking ``demonstration'' 
                and inserting ``proposed program'';
            (5) in subsection (d)--
                    (A) by striking ``(d) Selection.--In selecting 
                among applications, the Secretary shall take into 
                account the potential of each agency to plan and carry 
                out a program under the demonstration'' and inserting 
                the following:
    ``(d) Applications for Participation.--
            ``(1) Submission; standards for participation.--The