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Text of the Workforce Residential Housing Act of 2011

This bill was introduced on January 26, 2012, in a previous session of Congress, but was not enacted. The text of the bill below is as of Jan 26, 2012 (Introduced).

Source: GPO

II

112th CONGRESS

2d Session

S. 2035

IN THE SENATE OF THE UNITED STATES

January 26, 2012

(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.

1.

Short title

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

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.