I
111th CONGRESS
2d Session
H. R. 5838
IN THE HOUSE OF REPRESENTATIVES
July 22, 2010
Mrs. Halvorson (for herself and Mr. Rush) introduced the following bill; which was referred to the Committee on Veterans’ Affairs
A BILL
To amend title 38, United States Code, to improve the multifamily transitional housing loan program of the Department of Veterans Affairs by requiring the Secretary of Veterans Affairs to issue loans for the construction of, rehabilitation of, or acquisition of land for multifamily transitional housing projects instead of guaranteeing loans for such purposes, and for other purposes.
Short title
This Act may be cited as the
Homeless Veterans Transitional Housing Act of
2010
.
Conversion of multifamily transitional housing loan program to loan issuance program
Authority To issue loans
In general
Section 2051 of title 38, United States Code, is amended—
in subsection (a)—
by
striking The
and inserting (1) The
; and
by adding at the end the following new paragraph:
The Secretary shall, utilizing funds available in the Multifamily Transitional Housing Loan Program Revolving Fund under section 2055 of this title, issue not less than five loans that meet the requirements of this subchapter.
;
in subsection (b)—
in
paragraph (1), by striking under subsection (a)
and inserting
under subsection (a)(1)
;
in
paragraph (2), by striking under subsection (a)
and inserting
under subsection (a)(1)
; and
in
paragraph (3), by inserting or issued
after
guaranteed
;
in subsection (c),
by inserting or issued
after guaranteed
;
and
in subsection (g),
by inserting or issued
after guaranteed
.
Authority to delegate approval authority
Subsection (c) of such section, as amended by paragraph (1)(C) of this subsection, is further amended—
by striking
A loan
and inserting (1) A loan
; and
by adding at the end the following new paragraph:
The Secretary may delegate approval under paragraph (1) to a State or local government entity.
.
Sunset of authority to issue loan guarantees
Such section is further amended by adding at the end the following new subsection:
The Secretary may not guarantee under subsection (a)(1) any loan that is closed after the date of the enactment of this subsection. The termination by this subsection of the authority to guarantee loans under this subsection shall not affect the validity of any loan guaranteed under this subchapter before the date of the enactment of this subsection and is in force on that date.
.
Conforming amendments
Such title is further amended as follows:
In section
2052(d), by inserting or issue
after whether to
guarantee
.
In section
2053(a), by inserting or issued
after is
guaranteed
.
In section 2054(a)—
in
the first sentence, by inserting or issued
after
guaranteed
; and
in
the last sentence, by inserting or loan
after
guarantee
.
Clerical amendments
Such title is further amended as follows:
In the heading of
subchapter VI of chapter 20, by striking Loan guarantee
for
.
In the table of sections at the beginning of such chapter, by striking the item relating to subchapter VI and inserting the following new item:
SUBCHAPTER VI—Multifamily transitional housing
.
Multifamily Transitional Housing Loan Program Revolving Fund
In general
Subchapter VI of chapter 20 of such title is amended by adding at the end the following new section:
Multifamily Transitional Housing Loan Program Revolving Fund
Establishment
There is established in the Treasury of the
United States a revolving fund known as the Department of Veterans
Affairs Multifamily Transitional Housing Loan Program Revolving Fund
(in this section referred to as the Fund
).
Elements
There shall be deposited in the Fund the following, which shall constitute the assets of the Fund:
Amounts paid into the Fund under any provision of law or regulation established by the Secretary imposing fees on persons or entities issued a loan under this subchapter.
All other amounts received by the Secretary incident to operations relating to the issuance of loans under this subchapter, including—
collections of principal and interest on loans issued by the Secretary under this subchapter;
proceeds from the sale, rental, use, or other disposition of property acquired under this subchapter; and
penalties collected pursuant to this subchapter.
Amounts appropriated or otherwise made available before the date of the enactment of this section for purposes of activities under this subchapter, including amounts appropriated for such purposes under title I of the Department of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2000 (Public Law 106–74; 113 Stat. 1049).
Use of funds
The Fund shall be available to the Secretary, without fiscal year limitation, for all operations relating to the issuance of loans under this subchapter, consistent with the Federal Credit Reform Act of 1990 (2 U.S.C. 661 et seq.).
.
Clerical amendment
The table of sections at the beginning of chapter 20 of such title is amended by inserting after the item relating to section 2054 the following new item:
2055. Multifamily Transitional Housing Loan Program Revolving Fund.
.
Clarification of authority To determine terms and conditions of loans
Subsection
(a)(6) of section 2052 of such title is amended by inserting including
with respect to forbearance, deferral, and loan forgiveness,
after
determines are reasonable,
.
Clarification of types of spaces that may be included in covered multifamily transitional housing projects
Subsection (c)(1) of such section 2052 is
amended by striking or job training programs
and inserting
job training programs, other types of residential units, or other uses
that the Secretary considers necessary for the sustainability of the
project
.
Loan defaults
Section 2053 of such title is amended by adding at the end the following new subsection:
The Secretary may impose such penalties or require such collateral as the Secretary considers necessary—
to discourage default on a loan issued under this subchapter; or
to mitigate harm to the Department from default on a loan issued under this subchapter.
The Secretary shall administer any property coming under the jurisdiction of the Secretary by reason of default on a loan issued or guaranteed under this subchapter in accordance with regulations prescribed by the Secretary for that purpose. Such administration of property may include selling, renting, or otherwise disposing of property as the Secretary considers appropriate.
.
Preferential treatment of veterans
In general
Subchapter VI of chapter 20 of such title, as amended by subsection (b), is further amended by adding at the end the following new section:
Preferential treatment of veterans
No provision of Federal or State law may prohibit a multifamily transitional housing project described in section 2052(b) of this title from offering preferential treatment to veterans.
.
Clerical amendment
The table of sections at the beginning of such chapter, as amended by subsection (b), is further amended by adding at the end the following new item:
2056. Preferential treatment of veterans.
.
Technical corrections
Section 2052 of such title is amended—
in subsection
(b)(2), by striking counselling
both places it appears and
inserting counseling
; and
in subsection
(d)(2), by striking , as assessed under section 107 of Public Law
102–405
.