[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5838 Introduced in House (IH)]
111th CONGRESS
2d Session
H. R. 5838
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.
_______________________________________________________________________
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.
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 ``Homeless Veterans Transitional
Housing Act of 2010''.
SEC. 2. CONVERSION OF MULTIFAMILY TRANSITIONAL HOUSING LOAN PROGRAM TO
LOAN ISSUANCE PROGRAM.
(a) Authority To Issue Loans.--
(1) In general.--Section 2051 of title 38, United States
Code, is amended--
(A) in subsection (a)--
(i) by striking ``The'' and inserting ``(1)
The''; and
(ii) by adding at the end the following new
paragraph:
``(2) 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.'';
(B) in subsection (b)--
(i) in paragraph (1), by striking ``under
subsection (a)'' and inserting ``under
subsection (a)(1)'';
(ii) in paragraph (2), by striking ``under
subsection (a)'' and inserting ``under
subsection (a)(1)''; and
(iii) in paragraph (3), by inserting ``or
issued'' after ``guaranteed'';
(C) in subsection (c), by inserting ``or issued''
after ``guaranteed''; and
(D) in subsection (g), by inserting ``or issued''
after ``guaranteed''.
(2) Authority to delegate approval authority.--Subsection
(c) of such section, as amended by paragraph (1)(C) of this
subsection, is further amended--
(A) by striking ``A loan'' and inserting ``(1) A
loan''; and
(B) by adding at the end the following new
paragraph:
``(2) The Secretary may delegate approval under paragraph (1) to a
State or local government entity.''.
(3) Sunset of authority to issue loan guarantees.--Such
section is further amended by adding at the end the following
new subsection:
``(h) 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.''.
(4) Conforming amendments.--Such title is further amended
as follows:
(A) In section 2052(d), by inserting ``or issue''
after ``whether to guarantee''.
(B) In section 2053(a), by inserting ``or issued''
after ``is guaranteed''.
(C) In section 2054(a)--
(i) in the first sentence, by inserting
``or issued'' after ``guaranteed''; and
(ii) in the last sentence, by inserting
``or loan'' after ``guarantee''.
(5) Clerical amendments.--Such title is further amended as
follows:
(A) In the heading of subchapter VI of chapter 20,
by striking ``LOAN GUARANTEE FOR''.
(B) 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''.
(b) Multifamily Transitional Housing Loan Program Revolving Fund.--
(1) In general.--Subchapter VI of chapter 20 of such title
is amended by adding at the end the following new section:
``Sec. 2055. Multifamily Transitional Housing Loan Program Revolving
Fund
``(a) 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').
``(b) Elements.--There shall be deposited in the Fund the
following, which shall constitute the assets of the Fund:
``(1) 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.
``(2) All other amounts received by the Secretary incident
to operations relating to the issuance of loans under this
subchapter, including--
``(A) collections of principal and interest on
loans issued by the Secretary under this subchapter;
``(B) proceeds from the sale, rental, use, or other
disposition of property acquired under this subchapter;
and
``(C) penalties collected pursuant to this
subchapter.
``(3) 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).
``(c) 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.).''.
(2) 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.''.
(c) 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,''.
(d) 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''.
(e) Loan Defaults.--Section 2053 of such title is amended by adding
at the end the following new subsection:
``(c) The Secretary may impose such penalties or require such
collateral as the Secretary considers necessary--
``(1) to discourage default on a loan issued under this
subchapter; or
``(2) to mitigate harm to the Department from default on a
loan issued under this subchapter.
``(d) 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.''.
(f) Preferential Treatment of Veterans.--
(1) 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:
``Sec. 2056. 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.''.
(2) 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.''.
(g) Technical Corrections.--Section 2052 of such title is amended--
(1) in subsection (b)(2), by striking ``counselling'' both
places it appears and inserting ``counseling''; and
(2) in subsection (d)(2), by striking ``, as assessed under
section 107 of Public Law 102-405''.
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