H.R. 3825 (112th): Work Force Housing Act of 2011

112th Congress, 2011–2013. Text as of Jan 25, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

I

112th CONGRESS

2d Session

H. R. 3825

IN THE HOUSE OF REPRESENTATIVES

January 25, 2012

(for himself, Ms. Jenkins, Mr. Yoder, and Mr. Huelskamp) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To authorize the use of multifamily housing subject to a mortgage insured under section 207 of the National Housing Act as work force residential housing.

1.

Short title

This Act may be cited as the Work Force Housing Act of 2011.

2.

Work force residential housing

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

(1)

in subsection (b)—

(A)

in clause (1), by striking “or” at the end; and

(B)

by inserting before the period at the end the following: “, or (3) the project is a work force residential housing property (as such term is defined in subsection (e) of this section) and is subject to a mortgage insured under section 207 (12 U.S.C. 1713)”; and

(2)

in subsection (e)—

(A)

in clause (1), by striking “and” at the end; and

(B)

by inserting before the period at the end the following: , and (3) the term work force residential housing property means multifamily housing the dwelling units of which are rented for a minimum stay of seven days and that does not provide retail hotel amenities as defined by the Secretary.