[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1710 Introduced in House (IH)]
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117th CONGRESS
1st Session
H. R. 1710
To provide emergency assistance to homeowners to respond to the
coronavirus pandemic, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 9, 2021
Mr. David Scott of Georgia (for himself and Ms. Waters) introduced the
following bill; which was referred to the Committee on Appropriations
_______________________________________________________________________
A BILL
To provide emergency assistance to homeowners to respond to the
coronavirus pandemic, 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 ``Coronavirus Homeowner Assistance Act
of 2021''.
SEC. 2. HOMEOWNER ASSISTANCE FUND.
(a) Appropriation.--There is appropriated, out of amounts in the
Treasury not otherwise appropriated, for the fiscal year ending
September 30, 2021, to remain available until September 30, 2025,
$9,961,000,000 to the Homeowner Assistance Fund established under
subsection (c) for qualified expenses that meet the purposes
established under subsection (c) and expenses described in subsection
(d)(1).
(b) Definitions.--In this section:
(1) Conforming loan limit.--The term ``conforming loan
limit'' means the applicable limitation governing the maximum
original principal obligation of a mortgage secured by a
single-family residence, a mortgage secured by a 2-family
residence, a mortgage secured by a 3-family residence, or a
mortgage secured by a 4-family residence, as determined and
adjusted annually under section 302(b)(2) of the Federal
National Mortgage Association Charter Act (12 U.S.C.
1717(b)(2)) and section 305(a)(2) of the Federal Home Loan
Mortgage Corporation Act (12 U.S.C. 1454(a)(2)).
(2) Dwelling.--The term ``dwelling'' means any building,
structure, or portion thereof which is occupied as, or designed
or intended for occupancy as, a residence by one or more
individuals.
(3) Eligible entity.--The term ``eligible entity'' means--
(A) a State; or
(B) any entity eligible for payment under
subsection (f).
(4) Mortgage.--The term ``mortgage'' means any credit
transaction--
(A) that is secured by a mortgage, deed of trust,
or other consensual security interest on a principal
residence of a borrower that is (i) a 1- to 4-unit
dwelling, or (ii) residential real property that
includes a 1- to 4-unit dwelling; and
(B) the unpaid principal balance of which was, at
the time of origination, not more than the conforming
loan limit.
(5) Fund.--The term ``Fund'' means the Homeowner Assistance
Fund established under subsection (c).
(6) Secretary.--The term ``Secretary'' means the Secretary
of the Treasury.
(7) State.--The term ``State'' means any State of the
United States, the District of Columbia, the Commonwealth of
Puerto Rico, Guam, American Samoa, the United States Virgin
Islands, and the Commonwealth of the Northern Mariana Islands.
(c) Establishment of Fund.--
(1) Establishment; qualified expenses.--There is
established in the Department of the Treasury a Homeowner
Assistance Fund to mitigate financial hardships associated with
the coronavirus pandemic by providing such funds as are
appropriated by subsection (a) to eligible entities, and to
require an eligible entity that receives funds pursuant to this
section to periodically submit to the Secretary a report that
describes the activities carried out by the eligible entity
using the funds provided under this section, for the purpose of
preventing homeowner mortgage delinquencies, defaults,
foreclosures, loss of utilities or home energy services, and
displacements of homeowners experiencing financial hardship
after January 21, 2020, through qualified expenses related to
mortgages and housing, which include--
(A) mortgage payment assistance;
(B) financial assistance to allow a homeowner to
reinstate a mortgage or to pay other housing related
costs related to a period of forbearance, delinquency,
or default;
(C) principal reduction;
(D) facilitating interest rate reductions;
(E) payment assistance for--
(i) utilities, including electric, gas, and
water;
(ii) internet service, including broadband
internet access service, as defined in section
8.1(b) of title 47, Code of Federal Regulations
(or any successor regulation);
(iii) property taxes;
(iv) homeowner's insurance, flood
insurance, and mortgage insurance; and
(v) homeowner's association, condominium
association fees, or common charges;
(F) reimbursement of funds expended by a State,
local government, or designated entity under subsection
(e) during the period beginning on January 21, 2020,
and ending on the date that the first funds are
disbursed by the eligible entity under the Homeowner
Assistance Fund, for the purpose of providing housing
or utility payment assistance to individuals or
otherwise providing funds to prevent foreclosure or
eviction of a homeowner or tenant or prevent mortgage
delinquency or loss of housing or utilities as a
response to the coronavirus disease (COVID) pandemic;
and
(G) any other assistance to promote housing
stability for homeowners, including preventing
eviction, mortgage delinquency or default, foreclosure,
or the loss of utility or home energy services, as
determined by the Secretary.
(2) Targeting.--Not less than 60 percent of amounts made to
each eligible entity allocated amounts under subsection (d) or
(e) shall be used for qualified expenses that assist homeowners
having incomes equal to or less than 100 percent of the area
median income for their household size or equal to or less than
100 percent of the median income for the United States, as
determined by the Secretary of Housing and Urban Development,
whichever is greater. The eligible entity shall prioritize
remaining funds to populations or geographies experiencing the
greatest need.
(d) Allocation of Funds.--
(1) Administration.--Of any amounts made available under
this section, the Secretary shall reserve--
(A) to the Department of the Treasury, an amount
not to exceed $40,000,000 to administer and oversee the
Fund, and to provide technical assistance to eligible
entities for the creation and implementation of State
and tribal programs to administer assistance from the
Fund; and
(B) to the Inspector General of the Department of
the Treasury, an amount not to exceed $2,600,000 for
oversight of the program under this section.
(2) For states.--After the application of paragraphs (1),
(4), and (5) of this subsection and subject to paragraph (3) of
this subsection, the Secretary shall establish such criteria as
are necessary to allocate the remaining funds available within
the Homeowner Assistance Fund to each State of the United
States, the District of Columbia, and the Commonwealth of
Puerto Rico, taking into consideration, for such State relative
to all States of the United States, the District of Columbia,
and the Commonwealth of Puerto Rico, as of the date of the
enactment of this Act--
(A) the number of individuals who are unemployed;
(B) the total number or mortgagors with--
(i) mortgage payments that are more than 30
days past due; or
(ii) mortgages in foreclosure.
(3) Small state minimum.--
(A) In general.--Each State of the United States,
the District of Columbia, and the Commonwealth of
Puerto Rico shall receive no less than $40,000,000 for
the purposes established in (b).
(B) Pro rata adjustments.--The Secretary shall
adjust on a pro rata basis the amount of the payments
for each State of the United States, the District of
Columbia, and the Commonwealth of Puerto Rico
determined under this subsection without regard to this
subparagraph to the extent necessary to comply with the
requirements of subparagraph (A).
(4) Territory set-aside.--Notwithstanding any other
provision of this section, of the amounts appropriated under
subsection (d), the Secretary shall reserve $30,000,000 to be
disbursed to eligible entities for Guam, American Samoa, the
United States Virgin Islands, and the Commonwealth of the
Northern Mariana Islands based on each such territory's share
of the combined total population of all such territories, as
determined by the Secretary. For the purposes of this
paragraph, population shall be determined based on the most
recent year for which data are available from the United States
Census Bureau.
(5) Tribal set-aside.--The Secretary shall allocate funds
to any eligible entity designated under subsection (f) pursuant
to the requirements of that subsection.
(e) Distribution of Funds to States.--
(1) In general.--The Secretary shall make payments,
beginning not later than 45 days after enactment of this Act,
from amounts allocated under subsection (d) to eligible
entities that have notified the Secretary that they request to
receive payment from the Fund and that the eligible entity will
use such payments in compliance with this section.
(2) Reallocation.--If a State does not request allocated
funds by the 90th day after the date of enactment of this Act,
such State shall not be eligible for a payment from the
Secretary pursuant to this section, and the Secretary shall
reallocate any funds that were not requested by such State
among the States that have requested funds by the 90th day
after the date of enactment of this Act. For any such
reallocation of funds, the Secretary shall adhere to the
requirements of subsection (d), except for paragraph (1), to
the greatest extent possible, provided that the Secretary shall
also take into consideration in determining such reallocation a
State's remaining need and a State's record of using payments
from the Fund to serve homeowners at disproportionate risk of
mortgage default, foreclosure, or displacement, including
homeowners having incomes equal to or less than 100 percent of
the area median income for their household size or 100 percent
of the median income for the United States, as determined by
the Secretary of Housing and Urban Development, whichever is
greater, and minority homeowners.
(f) Tribal Set-Aside.--
(1) Set-aside.--Notwithstanding any other provision of this
section, of the amounts appropriated under subsection (a), the
Secretary shall use 5 percent to make payments to entities that
are eligible for payments under clauses (i) and (ii) of section
501(b)(2)(A) of subtitle A of title V of division N of the
Consolidated Appropriations Act, 2021 (Public Law 116-260) for
the purposes described in subsection (c).
(2) Allocation and payment.--The Secretary shall allocate
the funds set aside under paragraph (1) using the allocation
formulas described in clauses (i) and (ii) of section
501(b)(2)(A) of subtitle A of title V of division N of the
Consolidated Appropriations Act, 2021 (Public Law 116-260), and
shall make payments of such amounts to entities eligible for
payment under clauses (i) and (ii) of section 501(b)(2)(A) of
subtitle A of title V of division N of the Consolidated
Appropriations Act, 2021 (Public Law 116-260) that notify the
Secretary that they intend to receive payments allocated by the
Secretary for purposes described under subsection (c) and will
use such payments in compliance with this section.
(3) Adjustment.--Allocations provided under this subsection
may be further adjusted as provided by section 501(b)(2)(B) of
subtitle A of title V of division N of the Consolidated
Appropriations Act, 2021 (Public Law 116-260).
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