[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 1344 Introduced in Senate (IS)]

114th CONGRESS
  1st Session
                                S. 1344

 To clarify that nonprofit organizations such as Habitat for Humanity 
    can accept donated mortgage appraisals, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                              May 14, 2015

  Mr. Portman introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To clarify that nonprofit organizations such as Habitat for Humanity 
    can accept donated mortgage appraisals, 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. EXEMPTION FROM TRUTH IN LENDING ACT.

    Section 129E(i)(2) of the Truth in Lending Act is amended--
            (1) by redesignating subparagraphs (A) and (B) as clauses 
        (i) and (ii), respectively;
            (2) by striking ``For purposes of'' and inserting ``(A) In 
        general.--For purposes of''; and
            (3) by adding at the end the following:
                    ``(B) Rule of construction related to appraisal 
                donations.--In the case of an appraisal for which the 
                appraiser voluntarily does not receive a fee, the 
                appraiser is not, and shall not be construed to be, 
                with respect to the donated appraisal, a fee appraiser 
                for purposes of this section.''.
                                 <all>