S. 2035 (112th): Workforce Residential Housing Act of 2011

112th Congress, 2011–2013. Text as of Jan 26, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

S 2035 IS

112th CONGRESS

2d Session

S. 2035

To provide support for workforce residential housing, and for other purposes.

IN THE SENATE OF THE UNITED STATES

January 26, 2012

Mr. MORAN (for himself and Mr. ROBERTS) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To provide support for workforce residential housing, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ‘Workforce Residential Housing Act of 2011’.

SEC. 2. WORKFORCE RESIDENTIAL HOUSING.

    Section 513 of the National Housing Act (12 U.S.C. 1731b) is amended--

      (1) in subsection (b)--

        (A) by striking ‘or (2)’ and inserting ‘(2)’; and

        (B) by inserting before the period at the end the following: ‘, or (3) the project is for workforce residential housing property and is covered by a mortgage insured under section 207’; and

      (2) in subsection (e)--

        (A) by striking ‘and (2)’ and inserting ‘(2)’; and

        (B) by inserting before the period at the end the following: ‘, and (3) the term ‘workforce residential property’ means multifamily housing that rents units for a minimum stay of 7 days and does not provide retail hotel amenities, as defined by the Secretary’.