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H.R. 2255 (115th): HOME Act

The text of the bill below is as of Apr 28, 2017 (Introduced).


I

115th CONGRESS

1st Session

H. R. 2255

IN THE HOUSE OF REPRESENTATIVES

April 28, 2017

introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To clarify that nonprofit organizations may accept donated mortgage appraisals, and for other purposes.

1.

Short title

This Act may be cited as the Housing Opportunities Made Easier Act or the HOME Act.

2.

Exemption from Truth in Lending Act

Section 129E(i) of the Truth in Lending Act (15 U.S.C. 1639e(i)) is amended by adding at the end the following:

(4)

Rule of construction related to appraisal donations

For purposes of paragraph (1), if a fee appraiser voluntarily donates appraisal services to an organization described in section 170(c)(2) of the Internal Revenue Code of 1986, such voluntary donation shall be deemed customary and reasonable.

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