Text: H.R.5640 — 106th Congress (1999-2000)All Information (Except Text)

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Public Law No: 106-569 (12/27/2000)

 
[106th Congress Public Law 569]
[From the U.S. Government Printing Office]


<DOC>
[DOCID: f:publ569.106]


[[Page 2943]]

       AMERICAN HOMEOWNERSHIP AND ECONOMIC OPPORTUNITY ACT OF 2000

[[Page 114 STAT. 2944]]

Public Law 106-569
106th Congress

                                 An Act


 
     To expand homeownership in the <<NOTE: Dec. 27, 2000 -  [H.R. 
             5640]>> United States, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in <<NOTE: American Homeownership and Economic 
Opportunity Act of 2000. 12 USC 1701 note.>> Congress assembled,

SECTION. 1. SHORT TITLE AND TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``American 
Homeownership and Economic Opportunity Act of 2000''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title and table of contents.

          TITLE I--REMOVAL OF BARRIERS TO HOUSING AFFORDABILITY

Sec. 101. Short title.
Sec. 102. Grants for regulatory barrier removal strategies.
Sec. 103. Regulatory barriers clearinghouse.

              TITLE II--HOMEOWNERSHIP FOR WORKING FAMILIES

Sec. 201. Home equity conversion mortgages.
Sec. 202. Assistance for self-help housing providers.

                TITLE III--SECTION 8 HOMEOWNERSHIP OPTION

Sec. 301. Downpayment assistance.
Sec. 302. Pilot program for homeownership assistance for disabled 
           families.
Sec. 303. Funding for pilot programs.

    TITLE IV--PRIVATE MORTGAGE INSURANCE CANCELLATION AND TERMINATION

Sec. 401. Short title.
Sec. 402. Changes in amortization schedule.
Sec. 403. Deletion of ambiguous references to residential mortgages.
Sec. 404. Cancellation rights after cancellation date.
Sec. 405. Clarification of cancellation and termination issues and 
           lender paid mortgage insurance disclosure requirements.
Sec. 406. Definitions.

                 TITLE V--NATIVE AMERICAN HOMEOWNERSHIP

                   Subtitle A--Native American Housing

Sec. 501. Lands title report commission.
Sec. 502. Loan guarantees.
Sec. 503. Native American housing assistance.

                   Subtitle B--Native Hawaiian Housing

Sec. 511. Short title.
Sec. 512. Findings.
Sec. 513. Housing assistance.
Sec. 514. Loan guarantees.

               TITLE VI--MANUFACTURED HOUSING IMPROVEMENT

Sec. 601. Short title; references.

[[Page 114 STAT. 2945]]

Sec. 602. Findings and purposes.
Sec. 603. Definitions.
Sec. 604. Federal manufactured home construction and safety standards.
Sec. 605. Abolishment of National Manufactured Home Advisory Council; 
           manufactured home installation.
Sec. 606. Public information.
Sec. 607. Research, testing, development, and training.
Sec. 608. Prohibited acts.
Sec. 609. Fees.
Sec. 610. Dispute resolution.
Sec. 611. Elimination of annual reporting requirement.
Sec. 612. Effective date.
Sec. 613. Savings provisions.

                 TITLE VII--RURAL HOUSING HOMEOWNERSHIP

Sec. 701. Guarantees for refinancing of rural housing loans.
Sec. 702. Promissory note requirement under housing repair loan program.
Sec. 703. Limited partnership eligibility for farm labor housing loans.
Sec. 704. Project accounting records and practices.
Sec. 705. Definition of rural area.
Sec. 706. Operating assistance for migrant farmworkers projects.
Sec. 707. Multifamily rental housing loan guarantee program.
Sec. 708. Enforcement provisions.
Sec. 709. Amendments to title 18 of United States Code.

          TITLE VIII--HOUSING FOR ELDERLY AND DISABLED FAMILIES

Sec. 801. Short title.
Sec. 802. Regulations.
Sec. 803. Effective date.

   Subtitle A--Refinancing for Section 202 Supportive Housing for the 
                                 Elderly

Sec. 811. Prepayment and refinancing.

 Subtitle B--Authorization of Appropriations for Supportive Housing for 
                the Elderly and Persons With Disabilities

Sec. 821. Supportive housing for elderly persons.
Sec. 822. Supportive housing for persons with disabilities.
Sec. 823. Service coordinators and congregate services for elderly and 
           disabled housing.

Subtitle C--Expanding Housing Opportunities for the Elderly and Persons 
                            With Disabilities

                     Part 1--Housing for the Elderly

Sec. 831. Eligibility of for-profit limited partnerships.
Sec. 832. Mixed funding sources.
Sec. 833. Authority to acquire structures.
Sec. 834. Use of project reserves.
Sec. 835. Commercial activities.

              Part 2--Housing for Persons With Disabilities

Sec. 841. Eligibility of for-profit limited partnerships.
Sec. 842. Mixed funding sources.
Sec. 843. Tenant-based assistance.
Sec. 844. Use of project reserves.
Sec. 845. Commercial activities.

                        Part 3--Other Provisions

Sec. 851. Service coordinators.

          Subtitle D--Preservation of Affordable Housing Stock

Sec. 861. Section 236 assistance.

               TITLE IX--OTHER RELATED HOUSING PROVISIONS

Sec. 901. Extension of loan term for manufactured home lots.
Sec. 902. Use of section 8 vouchers for opt-outs.
Sec. 903. Maximum payment standard for enhanced vouchers.
Sec. 904. Use of section 8 assistance by ``grand-families'' to rent 
           dwelling units in assisted projects.

[[Page 114 STAT. 2946]]

                TITLE X--FEDERAL RESERVE BOARD PROVISIONS

Sec.1001.Federal Reserve Board buildings.
Sec.1002.Positions of Board of Governors of the Federal Reserve System 
           on the 
           Executive schedule.
Sec.1003.Amendments to the Federal Reserve Act.

              TITLE XI--BANKING AND HOUSING AGENCY REPORTS

Sec.1101.Short title.
Sec.1102.Preservation of certain reporting requirements.
Sec.1103.Coordination of reporting requirements.
Sec.1104.Elimination of certain reporting requirements.

                 TITLE XII--FINANCIAL REGULATORY RELIEF

Sec.1200.Short title.

    Subtitle A--Improving Monetary Policy and Financial Institution 
                          Management Practices

Sec.1201.Repeal of savings association liquidity provision.
Sec.1202.Noncontrolling investments by savings association holding 
           companies.
Sec.1203.Repeal of deposit broker notification and recordkeeping 
           requirement.
Sec.1204.Expedited procedures for certain reorganizations.
Sec.1205.National bank directors.
Sec.1206.Amendment to National Bank Consolidation and Merger Act.
Sec.1207.Loans on or purchases by institutions of their own stock; 
           affiliations.
Sec.1208.Purchased mortgage servicing rights.

           Subtitle B--Streamlining Activities of Institutions

Sec.1211.Call report simplification.

                 Subtitle C--Streamlining Agency Actions

Sec.1221.Elimination of duplicative disclosure of fair market value of 
           assets and 
           liabilities.
Sec.1222.Payment of interest in receiverships with surplus funds.
Sec.1223.Repeal of reporting requirement on differences in accounting 
           standards.
Sec.1224.Extension of time.

                    Subtitle D--Technical Corrections

Sec.1231.Technical correction relating to deposit insurance funds.
Sec.1232.Rules for continuation of deposit insurance for member banks 
           converting charters.
Sec.1233.Amendments to the Revised Statutes of the United States.
Sec.1234.Conforming change to the International Banking Act of 1978.

TITLE I--REMOVAL OF <<NOTE: Housing Affordability Barrier Removal Act of 
2000. 42 USC 12701 note.>> BARRIERS TO HOUSING AFFORDABILITY

SEC. 101. SHORT TITLE.

    This title may be cited as the ``Housing Affordability Barrier 
Removal Act of 2000''.

SEC. 102. GRANTS FOR REGULATORY BARRIER REMOVAL STRATEGIES.

    (a) Authorization of Appropriations.--Subsection (a) of section 1204 
of the Housing and Community Development Act of 1992 (42 U.S.C. 
12705c(a)) is amended to read as follows:
    ``(a) Funding.--There is authorized to be appropriated for grants 
under subsections (b) and (c) such sums as may be necessary for each of 
fiscal years 2001, 2002, 2003, 2004, and 2005.''.
    (b) Consolidation of State and Local Grants.--Subsection (b) of 
section 1204 of the Housing and Community Development Act of 1992 (42 
U.S.C. 12705c(b)) is amended--
            (1) in the subsection heading, by striking ``State Grants'' 
        and inserting ``Grant Authority'';
            (2) in the matter preceding paragraph (1), by inserting 
        after ``States'' the following: ``and units of general local 
        government (including consortia of such governments)'';

[[Page 114 STAT. 2947]]

            (3) in paragraph (3), by striking ``a State program to 
        reduce State and local'' and inserting ``State, local, or 
        regional programs to reduce'';
            (4) in paragraph (4), by inserting ``or local'' after 
        ``State''; and
            (5) in paragraph (5), by striking ``State''.

    (c) Repeal of Local Grants Provision.--Section 1204 of the Housing 
and Community Development Act of 1992 (42 U.S.C. 12705c) is amended by 
striking subsection (c).
    (d) Application and Selection.--The last sentence of section 1204(e) 
of the Housing and Community Development Act of 1992 (42 U.S.C. 
12705c(e)) is amended--
            (1) by striking ``and for the selection of units of general 
        local government to receive grants under subsection (f )(2)''; 
        and
            (2) by inserting before the period at the end the following: 
        ``and such criteria shall require that grant amounts be used in 
        a manner consistent with the strategy contained in the 
        comprehensive housing affordability strategy for the 
        jurisdiction pursuant to section 105(b)(4) of the Cranston-
        Gonzalez National Affordable Housing Act''.

    (e) Selection of Grantees.--Subsection (f ) of section 1204 of the 
Housing and Community Development Act of 1992 (42 U.S.C. 12705c(f )) is 
amended to read as follows:
    ``(f ) Selection of Grantees.--To the extent amounts are made 
available to carry out this section, the Secretary shall provide grants 
on a competitive basis to eligible grantees based on the proposed uses 
of such amounts, as provided in applications under subsection (e).''.
    (f ) Technical Amendments.--Section 107(a)(1) of the Housing and 
Community Development Act of 1974 (42 U.S.C. 5307(a)(1)) is amended--
            (1) in subparagraph (G), by inserting ``and'' after the 
        semicolon at the end;
            (2) by striking subparagraph (H); and
            (3) by redesignating subparagraph (I) as subparagraph (H).

SEC. 103. REGULATORY BARRIERS CLEARINGHOUSE.

    Section 1205 of the Housing and Community Development Act of 1992 
(42 U.S.C. 12705d) is amended--
            (1) in subsection (a)--
                    (A) in the matter preceding paragraph (1), by 
                striking ``receive, collect, process, and assemble'' and 
                inserting ``serve as a national repository to receive, 
                collect, process, assemble, and disseminate'';
                    (B) in paragraph (1)--
                          (i) by striking ``, including'' and inserting 
                      ``(including''; and
                          (ii) by inserting before the semicolon at the 
                      end the following: ``), and the prevalence and 
                      effects on affordable housing of such laws, 
                      regulations, and policies'';
                    (C) in paragraph (2), by inserting before the 
                semicolon the following: ``, including particularly 
                innovative or successful activities, strategies, and 
                plans''; and

[[Page 114 STAT. 2948]]

                    (D) in paragraph (3), by inserting before the period 
                at the end the following: ``, including particularly 
                innovative or successful strategies, activities, and 
                plans'';
            (2) in subsection (b)--
                    (A) in paragraph (1), by striking ``and'' at the 
                end;
                    (B) in paragraph (2), by striking the period at the 
                end and inserting ``; and''; and
                    (C) by adding at the end the following new 
                paragraph:
            ``(3) by making available through a World Wide Web site of 
        the Department, by electronic mail, or otherwise, provide to 
        each housing agency of a unit of general local government that 
        serves an area having a population greater than 100,000, an 
        index of all State and local strategies and plans submitted 
        under subsection (a) to the clearinghouse, which--
                    ``(A) shall describe the types of barriers to 
                affordable housing that the strategy or plan was 
                designed to ameliorate or remove; and
                    ``(B) shall, not later than <<NOTE: Deadline.>> 30 
                days after submission to the clearinghouse of any new 
                strategy or plan, be updated to include the new strategy 
                or plan submitted.''; and
            (3) by adding at the end the following new subsections:

    ``(c) Organization.--The clearinghouse under this section shall be 
established within the Office of Policy Development of the Department of 
Housing and Urban Development and shall be under the direction of the 
Assistant Secretary for Policy Development and Research.
    ``(d) Timing.--The <<NOTE: Deadline.>> clearinghouse under this 
section (as amended by section 103 of the Housing Affordability Barrier 
Removal Act of 2000) shall be established and commence carrying out the 
functions of the clearinghouse under this section not later than 1 year 
after the date of the enactment of such Act. The Secretary of Housing 
and Urban Development may comply with the requirements under this 
section by reestablishing the clearinghouse that was originally 
established to comply with this section and updating and improving such 
clearinghouse to the extent necessary to comply with the requirements of 
this section as in effect pursuant to the enactment of such Act.''.

              TITLE II--HOMEOWNERSHIP FOR WORKING FAMILIES

SEC. 201. HOME EQUITY CONVERSION MORTGAGES.

    (a) Insurance for Mortgages to Refinance Existing HECMs.--
            (1) In general.--Section 255 of the National Housing Act (12 
        U.S.C. 1715z-20) is amended--
                    (A) by redesignating subsection (k) as subsection 
                (m); and
                    (B) by inserting after subsection ( j) the following 
                new subsection:

    ``(k) Insurance Authority for Refinancings.--
            ``(1) In general.--The Secretary may, upon application by a 
        mortgagee, insure under this subsection any mortgage given to 
        refinance an existing home equity conversion mortgage insured 
        under this section.

[[Page 114 STAT. 2949]]

            ``(2) Anti-churning disclosure.--The Secretary shall, by 
        regulation, require that the mortgagee of a mortgage insured 
        under this subsection, provide to the mortgagor, within an 
        appropriate time period and in a manner established in such 
        regulations, a good faith estimate of: (A) the total cost of the 
        refinancing; and (B) the increase in the mortgagor's principal 
        limit as measured by the estimated initial principal limit on 
        the mortgage to be insured under this subsection less the 
        current principal limit on the home equity conversion mortgage 
        that is being refinanced and insured under this subsection.
            ``(3) Waiver of counseling requirement.--The mortgagor under 
        a mortgage insured under this subsection may waive the 
        applicability, with respect to such mortgage, of the 
        requirements under subsection (d)(2)(B) (relating to third party 
        counseling), but only if--
                    ``(A) the mortgagor has received the disclosure 
                required under paragraph (2);
                    ``(B) the increase in the principal limit described 
                in paragraph (2) exceeds the amount of the total cost of 
                refinancing (as described in such paragraph) by an 
                amount to be determined by the Secretary; and
                    ``(C) the time between the closing of the original 
                home equity conversion mortgage that is refinanced 
                through the mortgage insured under this subsection and 
                the application for a refinancing mortgage insured under 
                this subsection does not exceed 5 years.
            ``(4) Credit for premiums paid.--Notwithstanding section 
        203(c)(2)(A), the Secretary may reduce the amount of the single 
        premium payment otherwise collected under such section at the 
        time of the insurance of a mortgage refinanced and insured under 
        this subsection. The amount of the single premium for mortgages 
        refinanced under this subsection shall be determined by the 
        Secretary based on the actuarial study required under paragraph 
        (5).
            ``(5) Actuarial study.--Not <<NOTE: Deadline.>> later than 
        180 days after the date of the enactment of the American 
        Homeownership and Economic Opportunity Act of 2000, the 
        Secretary shall conduct an actuarial analysis to determine the 
        adequacy of the insurance premiums collected under the program 
        under this subsection with respect to--
                    ``(A) a reduction in the single premium payment 
                collected at the time of the insurance of a mortgage 
                refinanced and insured under this subsection;
                    ``(B) the establishment of a single national limit 
                on the benefits of insurance under subsection (g) 
                (relating to limitation on insurance authority); and
                    ``(C) the combined effect of reduced insurance 
                premiums and a single national limitation on insurance 
                authority.
            ``(6) Fees.--The Secretary may establish a limit on the 
        origination fee that may be charged to a mortgagor under a 
        mortgage insured under this subsection, except that such 
        limitation shall provide that the origination fee may be fully 
        financed with the mortgage and shall include any fees paid to 
        correspondent mortgagees approved by the Secretary.''.
            (2) Regulations.--The Secretary <<NOTE: Deadline. 12 USC 
        1715z-20 note.>> shall issue any final regulations necessary to 
        implement the amendments made by

[[Page 114 STAT. 2950]]

        paragraph (1) of this subsection, which shall take effect not 
        later than the expiration of the 180-day period beginning on the 
        date of the enactment of this <<NOTE: Notice.>> Act. The 
        regulations shall be issued after notice and opportunity for 
        public comment in accordance with the procedure under section 
        553 of title 5, United States Code, applicable to substantive 
        rules (notwithstanding subsections (a)(2), (b)(B), and (d)(3) of 
        such section).

    (b) Housing Cooperatives.--Section 255(b) of the National Housing 
Act (12 U.S.C. 1715z-20(b)) is amended--
            (1) in paragraph (2), by striking `` `mortgage',''; and
            (2) by adding at the end the following new paragraphs:
            ``(4) Mortgage.--The term `mortgage' means a first mortgage 
        or first lien on real estate, in fee simple, on all stock 
        allocated to a dwelling in a residential cooperative housing 
        corporation, or on a leasehold--
                    ``(A) under a lease for not less than 99 years that 
                is renewable; or
                    ``(B) under a lease having a period of not less than 
                10 years to run beyond the maturity date of the 
                mortgage.
            ``(5) First mortgage.--The term `first mortgage' means such 
        classes of first liens as are commonly given to secure advances 
        on, or the unpaid purchase price of, real estate or all stock 
        allocated to a dwelling unit in a residential cooperative 
        housing corporation, under the laws of the State in which the 
        real estate or dwelling unit is located, together with the 
        credit instruments, if any, secured thereby.''.

    (c) Waiver of Up-Front Premiums for Mortgages Used to Fund Long-Term 
Care Insurance.--
            (1) In general.--Section 255 of the National Housing Act (12 
        U.S.C. 1715z-20) is amended by inserting after subsection (k) 
        (as added by subsection (a) of this section) the following new 
        subsection:

    ``(l) Waiver of Up-Front Premiums for Mortgages to Fund Long-Term 
Care Insurance.--
            ``(1) In general.--In the case of any mortgage insured under 
        this section under which the total amount (except as provided in 
        paragraph (2)) of all future payments described in subsection 
        (b)(3) will be used only for costs of a qualified long-term care 
        insurance contract that covers the mortgagor or members of the 
        household residing in the property that is subject to the 
        mortgage, notwithstanding section 203(c)(2), the Secretary shall 
        not charge or collect the single premium payment otherwise 
        required under subparagraph (A) of such section to be paid at 
        the time of insurance.
            ``(2) Authority to refinance existing mortgage and finance 
        closing costs.--A mortgage described in paragraph (1) may 
        provide financing of amounts that are used to satisfy 
        outstanding mortgage obligations (in accordance with such 
        limitations as the Secretary shall prescribe) and any amounts 
        used for initial service charges, appraisal, inspection, and 
        other fees (as approved by the Secretary) in connection with 
        such mortgage, and the amount of future payments described in 
        subsection (b)(3) under the mortgage shall be reduced 
        accordingly.
            ``(3) Definition.--For purposes of this subsection, the term 
        `qualified long-term care insurance contract' has the meaning 
        given such term in section 7702B of the Internal Revenue

[[Page 114 STAT. 2951]]

        Code of 1986 (26 U.S.C. 7702B)), except that such contract shall 
        also meet the requirements of--
                    ``(A) sections 9 (relating to disclosure), 24 
                (relating to suitability), and 26 (relating to 
                contingent nonforfeiture) of the long-term care 
                insurance model regulation promulgated by the National 
                Association of Insurance Commissioners (as adopted as of 
                September 2000); and
                    ``(B) section 8 (relating to contingent 
                nonforfeiture) of the long-term care insurance model Act 
                promulgated by the National Association of Insurance 
                Commissioners (as adopted as of September 2000).''.
            (2) Applicability.--The provisions of <<NOTE: 12 USC 1715z-
        20 note.>> section 255(l) of the National Housing Act (as added 
        by paragraph (1) of this subsection) shall apply only to 
        mortgages closed on or after April 1, 2001.

    (d) Study of Single National Mortgage Limit.--The Secretary of 
Housing and Urban Development shall conduct an actuarially based study 
of the effects of establishing, for mortgages insured under section 255 
of the National Housing Act (12 U.S.C. 1715z-20), a single maximum 
mortgage amount limitation in lieu of applicability of section 203(b)(2) 
of such Act (12 U.S.C. 1709(b)(2)). The study shall--
            (1) examine the effects of establishing such limitation at 
        different dollar amounts; and
            (2) examine the effects of such various limitations on--
                    (A) the risks to the General Insurance Fund 
                established under section 519 of such Act;
                    (B) the mortgage insurance premiums that would be 
                required to be charged to mortgagors to ensure actuarial 
                soundness of such Fund; and
                    (C) take into consideration the various approaches 
                to providing credit to borrowers who refinance home 
                equity conversion mortgages insured under section 255 of 
                such Act.

Not later than 180 days after the date of the enactment of this Act, the 
Secretary shall complete the study under this subsection and submit a 
report describing the study and the results of the study to the 
Committee on Banking and Financial Services of the House of 
Representatives and to the Committee on Banking, Housing, and Urban 
Affairs of the Senate.

SEC. 202. <<NOTE: Deadline.>> ASSISTANCE FOR SELF-HELP HOUSING 
            PROVIDERS.

    (a) Reauthorization.--Subsection (p) of section 11 of the Housing 
Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is 
amended to read as follows:
    ``(p) Authorization of Appropriations.--There are authorized to be 
appropriated to carry out this section such sums as may be necessary for 
fiscal year 2001.''.
    (b) Eligible Expenses.--Section 11(d)(2)(A) of the Housing 
Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is 
amended by inserting before the period at the end the following: ``, 
which may include reimbursing an organization, consortium, or affiliate, 
upon approval of any required environmental review, for nongrant amounts 
of the organization, consortium, or affiliate advanced before such 
review to acquire land''.

[[Page 114 STAT. 2952]]

    (c) Deadline for Recapture of Funds.--Section 11 of the Housing 
Opportunity Program Extension Act of 1996 (42 U.S.C. 12805 note) is 
amended--
            (1) in subsection (i)(5)--
                    (A) by striking ``if the organization or consortia 
                has not used any grant amounts'' and inserting ``the 
                Secretary shall recapture any grant amounts provided to 
                the organization or consortia that are not used'';
                    (B) by striking ``(or,'' and inserting ``, except 
                that such period shall be 36 months''; and
                    (C) by striking ``within 36 months), the Secretary 
                shall recapture such unused amounts'' and inserting 
                ``and in the case of a grant amounts provided to a local 
                affiliate of the organization or consortia that is 
                developing five or more dwellings in connection with 
                such grant amounts''; and
            (2) in subsection ( j), by inserting after ``carry out this 
        section'' the following: ``and grant amounts provided to a local 
        affiliate of the organization or consortia that is developing 
        five or more dwellings in connection with such grant amounts''.

    (d) Technical Corrections.--Section 11 of the Housing Opportunity 
Program Extension Act of 1996 (42 U.S.C. 12805 note) is amended--
            (1) in subsection (b)(4), by striking ``Habitat for Humanity 
        International, its affiliates, and other''; and
            (2) in subsection (e)(2), by striking ``consoria'' and 
        inserting ``consortia''.

                TITLE III--SECTION 8 HOMEOWNERSHIP OPTION

SEC. 301. DOWNPAYMENT ASSISTANCE.

    (a) Amendments.--Section 8(y) of the United States Housing Act of 
1937 (42 U.S.C. 1437f(y)) is amended--
            (1) by redesignating paragraph (7) as paragraph (8); and
            (2) by inserting after paragraph (6) the following new 
        paragraph:
            ``(7) Downpayment assistance.--
                    ``(A) Authority.--A public housing agency may, in 
                lieu of providing monthly assistance payments under this 
                subsection on behalf of a family eligible for such 
                assistance and at the discretion of the public housing 
                agency, provide assistance for the family in the form of 
                a single grant to be used only as a contribution toward 
                the downpayment required in connection with the purchase 
                of a dwelling for fiscal year 2000 and each fiscal year 
                thereafter to the extent provided in advance in 
                appropriations Acts.
                    ``(B) Amount.--The amount of a downpayment grant on 
                behalf of an assisted family may not exceed the amount 
                that is equal to the sum of the assistance payments that 
                would be made during the first year of assistance on 
                behalf of the family, based upon the income of the 
                family at the time the grant is to be made.''.

    (b) Effective <<NOTE: 42 USC 1437f note.>> Date.--The amendments 
made by subsection (a) shall take effect immediately after the 
amendments made by

[[Page 114 STAT. 2953]]

section 555(c) of the Quality Housing and Work Responsibility Act of 
1998 take effect pursuant to such section.

SEC. 302. PILOT <<NOTE: 42 USC 1437f note.>> PROGRAM FOR HOMEOWNERSHIP 
            ASSISTANCE FOR DISABLED FAMILIES.

    (a) In General.--A public housing agency providing tenant-based 
assistance on behalf of an eligible family under section 8 of the United 
States Housing Act of 1937 (42 U.S.C. 1437f ) may provide assistance for 
a disabled family that purchases a dwelling unit (including a dwelling 
unit under a lease-purchase agreement) that will be owned by one or more 
members of the disabled family and will be occupied by the disabled 
family, if the disabled family--
            (1) purchases the dwelling unit before the expiration of the 
        3-year period beginning on the date that the Secretary first 
        implements the pilot program under this section;
            (2) demonstrates that the disabled family has income from 
        employment or other sources (including public assistance), as 
        determined in accordance with requirements of the Secretary, 
        that is not less than twice the payment standard established by 
        the public housing agency (or such other amount as may be 
        established by the Secretary);
            (3) except as provided by the Secretary, demonstrates at the 
        time the disabled family initially receives tenant-based 
        assistance under this section that one or more adult members of 
        the disabled family have achieved employment for the period as 
        the Secretary shall require;
            (4) participates in a homeownership and housing counseling 
        program provided by the agency; and
            (5) meets any other initial or continuing requirements 
        established by the public housing agency in accordance with 
        requirements established by the Secretary.

    (b) Determination of Amount of Assistance.--
            (1) In general.--
                    (A) Monthly expenses not exceeding payment 
                standard.--If the monthly homeownership expenses, as 
                determined in accordance with requirements established 
                by the Secretary, do not exceed the payment standard, 
                the monthly assistance payment shall be the amount by 
                which the homeownership expenses exceed the highest of 
                the following amounts, rounded to the nearest dollar:
                          (i) Thirty percent of the monthly adjusted 
                      income of the disabled family.
                          (ii) Ten percent of the monthly income of the 
                      disabled family.
                          (iii) If the disabled family is receiving 
                      payments for welfare assistance from a public 
                      agency, and a portion of those payments, adjusted 
                      in accordance with the actual housing costs of the 
                      disabled family, is specifically designated by 
                      that agency to meet the housing costs of the 
                      disabled family, the portion of those payments 
                      that is so designated.
                    (B) Monthly expenses exceed payment standard.--If 
                the monthly homeownership expenses, as determined in 
                accordance with requirements established by the 
                Secretary, exceed the payment standard, the monthly 
                assistance payment shall be the amount by which the 
                applicable

[[Page 114 STAT. 2954]]

                payment standard exceeds the highest of the amounts 
                under clauses (i), (ii), and (iii) of subparagraph (A).
            (2) Calculation of amount.--
                    (A) Low-income families.--A disabled family that is 
                a low-income family shall be eligible to receive 100 
                percent of the amount calculated under paragraph (1).
                    (B) Income between 81 and 89 percent of median.--A 
                disabled family whose income is between 81 and 89 
                percent of the median for the area shall be eligible to 
                receive 66 percent of the amount calculated under 
                paragraph (1).
                    (C) Income between 90 and 99 percent of median.--A 
                disabled family whose income is between 90 and 99 
                percent of the median for the area shall be eligible to 
                receive 33 percent of the amount calculated under 
                paragraph (1).
                    (D) Income more than 99 percent of median.--A 
                disabled family whose income is more than 99 percent of 
                the median for the area shall not be eligible to receive 
                assistance under this section.

    (c) Inspections and Contract Conditions.--
            (1) In general.--Each contract for the purchase of a 
        dwelling unit to be assisted under this section shall--
                    (A) provide for pre-purchase inspection of the 
                dwelling unit by an independent professional; and
                    (B) require that any cost of necessary repairs be 
                paid by the seller.
            (2) Annual inspections not required.--The requirement under 
        subsection (o)(8)(A)(ii) of section 8 of the United States 
        Housing Act of 1937 for annual inspections shall not apply to 
        dwelling units assisted under this section.

    (d) Other Authority of the Secretary.--The Secretary may--
            (1) limit the term of assistance for a disabled family 
        assisted under this section;
            (2) provide assistance for a disabled family for the entire 
        term of a mortgage for a dwelling unit if the disabled family 
        remains eligible for such assistance for such term; and
            (3) modify the requirements of this section as the Secretary 
        determines to be necessary to make appropriate adaptations for 
        lease-purchase agreements.

    (e) Assistance Payments Sent to Lender.--The Secretary shall remit 
assistance payments under this section directly to the mortgagee of the 
dwelling unit purchased by the disabled family receiving such assistance 
payments.
    (f ) Inapplicability of Certain Provisions.--Assistance under this 
section shall not be subject to the requirements of the following 
provisions:
            (1) Subsection (c)(3)(B) of section 8 of the United States 
        Housing Act of 1937.
            (2) Subsection (d)(1)(B)(i) of section 8 of the United 
        States Housing Act of 1937.
            (3) Any other provisions of section 8 of the United States 
        Housing Act of 1937 governing maximum amounts payable to owners 
        and amounts payable by assisted families.

[[Page 114 STAT. 2955]]

            (4) Any other provisions of section 8 of the United States 
        Housing Act of 1937 concerning contracts between public housing 
        agencies and owners.
            (5) Any other provisions of the United States Housing Act of 
        1937 that are inconsistent with the provisions of this section.

    (g) Reversion to Rental Status.--
            (1) Non-fha mortgages.--If a disabled family receiving 
        assistance under this section defaults under a mortgage not 
        insured under the National Housing Act, the disabled family may 
        not continue to receive rental assistance under section 8 of the 
        United States Housing Act of 1937 unless it complies with 
        requirements established by the Secretary.
            (2) All mortgages.--A disabled family receiving assistance 
        under this section that defaults under a mortgage may not 
        receive assistance under this section for occupancy of another 
        dwelling unit owned by one or more members of the disabled 
        family.
            (3) Exception.--This subsection shall not apply if the 
        Secretary determines that the disabled family receiving 
        assistance under this section defaulted under a mortgage due to 
        catastrophic medical reasons or due to the impact of a federally 
        declared major disaster or emergency.

    (h) Regulations.--Not later than <<NOTE: Deadline.>> 90 days after 
the date of the enactment of this Act, the Secretary shall issue 
regulations to implement this section. Such regulations may not prohibit 
any public housing agency providing tenant-based assistance on behalf of 
an eligible family under section 8 of the United States Housing Act of 
1937 from participating in the pilot program under this section.

    (i) Definition of Disabled Family.--For the purposes of this 
section, the term ``disabled family'' has the meaning given the term 
``person with disabilities'' in section 811(k)(2) of the Cranston-
Gonzalez National Affordable Housing Act (42 U.S.C. 8013(k)(2)).

SEC. 303. FUNDING FOR PILOT PROGRAMS.

    (a) Authorization of Appropriations.--There is authorized to be 
appropriated such sums as may be necessary for fiscal year 2001 for 
assistance in connection with the existing homeownership pilot programs 
carried out under the demonstration program authorized under section 
555(b) of the Quality Housing and Work Responsibility Act of 1998 
(Public Law 105-276; 112 Stat. 2613).
    (b) Use.--Subject to subsection (c), amounts made available pursuant 
to this section shall be used only through such homeownership pilot 
programs to provide, on behalf of families participating in such 
programs, amounts for downpayments in connection with dwellings 
purchased by such families using assistance made available under section 
8(y) of the United States Housing Act of 1937 (42 U.S.C. 1437f(y)). No 
such downpayment grant may exceed 20 percent of the appraised value of 
the dwelling purchased with assistance under such section 8(y).
    (c) Matching Requirement.--The amount of assistance made available 
under this section for any existing homeownership pilot program may not 
exceed twice the amount donated from sources other than this section for 
use under the program for assistance described in subsection (b). 
Amounts donated from other sources

[[Page 114 STAT. 2956]]

may include amounts from State housing finance agencies and Neighborhood 
Housing Services of America.

     TITLE IV--PRIVATE <<NOTE: Private Mortgage Insurance Technical 
Corrections and Clarification Act.>> MORTGAGE INSURANCE CANCELLATION AND 
TERMINATION

SEC. 401. <<NOTE: 12 USC 4901 note.>> SHORT TITLE.

    This title may be cited as the ``Private Mortgage Insurance 
Technical Corrections and Clarification Act''.

SEC. 402. CHANGES IN AMORTIZATION SCHEDULE.

    (a) Treatment of Adjustable Rate Mortgages.--The Homeowners 
Protection Act of 1998 (12 U.S.C. 4901 et seq.) is amended--
            (1) in section 2-- <<NOTE: 12 USC 4901.>> 
                    (A) in paragraph (2)(B)(i), by striking 
                ``amortization schedules'' and inserting ``the 
                amortization schedule then in effect'';
                    (B) in paragraph (16)(B), by striking ``amortization 
                schedules'' and inserting ``the amortization schedule 
                then in effect'';
                    (C) by redesignating paragraphs (6) through (16) (as 
                amended by the preceding provisions of this paragraph) 
                as paragraphs (8) through (18), respectively; and
                    (D) by inserting after paragraph (5) the following 
                new paragraph:
            ``(6) Amortization schedule then in effect.--The term 
        `amortization schedule then in effect' means, with respect to an 
        adjustable rate mortgage, a schedule established at the time at 
        which the residential mortgage transaction is consummated or, if 
        such schedule has been changed or recalculated, is the most 
        recent schedule under the terms of the note or mortgage, which 
        shows--
                    ``(A) the amount of principal and interest that is 
                due at regular intervals to retire the principal balance 
                and accrued interest over the remaining amortization 
                period of the loan; and
                    ``(B) the unpaid balance of the loan after each such 
                scheduled payment is made.''; and
            (2) in section 3(f )(1)(B)(ii), <<NOTE: 12 USC 4902.>> by 
        striking ``amortization schedules'' and inserting ``the 
        amortization schedule then in effect''.

    (b) Treatment of Balloon Mortgages.--Paragraph (1) of section 2 of 
the Homeowners Protection Act of 1998 (12 U.S.C. 4901(1)) is amended by 
adding at the end the following new sentence: ``A residential mortgage 
that: (A) does not fully amortize over the term of the obligation; and 
(B) contains a conditional right to refinance or modify the unamortized 
principal at the maturity date of the term, shall be considered to be an 
adjustable rate mortgage for purposes of this Act.''.
    (c) Treatment of Loan Modifications.--
            (1) In general.--Section 3 of the Homeowners Protection Act 
        of 1998 (12 U.S.C. 4902) is amended--
                    (A) by redesignating subsections (d) through (f ) as 
                subsections (e) through (g), respectively; and

[[Page 114 STAT. 2957]]

                    (B) by inserting after subsection (c) the following 
                new subsection:

    ``(d) Treatment of Loan Modifications.--If a mortgagor and mortgagee 
(or holder of the mortgage) agree to a modification of the terms or 
conditions of a loan pursuant to a residential mortgage transaction, the 
cancellation date, termination date, or final termination shall be 
recalculated to reflect the modified terms and conditions of such 
loan.''.
            (2) Conforming amendments.--Section 4(a) of the Homeowners 
        Protection Act of 1998 (12 U.S.C. 4903(a)) is amended--
                    (A) in paragraph (1)--
                          (i) in the matter preceding subparagraph (A), 
                      by striking ``section 3(f )(1)'' and inserting 
                      ``section 3(g)(1)'';
                          (ii) in subparagraph (A)(ii)(IV), by striking 
                      ``section 3(f )'' and inserting ``section 3(g)''; 
                      and
                          (iii) in subparagraph (B)(iii), by striking 
                      ``section 3(f )'' and inserting ``section 3(g)''; 
                      and
                    (B) in paragraph (2), by striking ``section 3(f 
                )(1)'' and inserting ``section 3(g)(1)''.

SEC. 403. DELETION OF AMBIGUOUS REFERENCES TO RESIDENTIAL MORTGAGES.

    (a) Termination of Private Mortgage Insurance.--Section 3 of the 
Homeowners Protection Act of 1998 (12 U.S.C. 4902) is amended--
            (1) in subsection (c), by inserting ``on residential 
        mortgage transactions'' after ``imposed''; and
            (2) in subsection (g) (as so redesignated by the preceding 
        provisions of this title)--
                    (A) in paragraph (1), in the matter preceding 
                subparagraph (A), by striking ``mortgage or'';
                    (B) in paragraph (2), by striking ``mortgage or''; 
                and
                    (C) in paragraph (3), by striking ``mortgage or'' 
                and inserting ``residential mortgage or residential''.

    (b) Disclosure Requirements.--Section 4 of the Homeowners Protection 
Act of 1998 (12 U.S.C. 4903(a)) is amended--
            (1) in subsection (a)--
                    (A) in paragraph (1)--
                          (i) by striking ``mortgage or'' the first 
                      place it appears; and
                          (ii) by striking ``mortgage or'' the second 
                      place it appears and inserting ``residential''; 
                      and
                    (B) in paragraph (2), by striking ``mortgage or'' 
                and inserting ``residential'';
            (2) in subsection (c), by striking ``paragraphs (1)(B) and 
        (3) of subsection (a)'' and inserting ``subsection (a)(3)''; and
            (3) in subsection (d), by inserting before the period at the 
        end the following: ``, which disclosures shall relate to the 
        mortgagor's rights under this Act''.

    (c) Disclosure Requirements for Lender-Paid Mortgage Insurance.--
Section 6 of the Homeowners Protection Act of 1998 (12 U.S.C. 4905) is 
amended--
            (1) in subsection (c)--
                    (A) in the matter preceding paragraph (1), by 
                striking ``a residential mortgage or''; and
                    (B) in paragraph (2), by inserting ``transaction'' 
                after ``residential mortgage''; and

[[Page 114 STAT. 2958]]

            (2) in subsection (d), by inserting ``transaction'' after 
        ``residential mortgage''.

SEC. 404. CANCELLATION RIGHTS AFTER CANCELLATION DATE.

    Section 3 of the Homeowners Protection Act of 1998 (12 U.S.C. 4902) 
is amended--
            (1) in subsection (a)--
                    (A) in the matter preceding paragraph (1), by 
                inserting after ``cancellation date'' the following: 
                ``or any later date that the mortgagor fulfills all of 
                the requirements under paragraphs (1) through (4)'';
                    (B) in paragraph (2), by striking ``and'' at the 
                end;
                    (C) by redesignating paragraph (3) as paragraph (4); 
                and
                    (D) by inserting after paragraph (2) the following 
                new paragraph:
            ``(3) is current on the payments required by the terms of 
        the residential mortgage transaction; and''; and
            (2) in subsection (e)(1)(B) (as so redesignated by the 
        preceding provisions of this title), by striking ``subsection 
        (a)(3)'' and inserting ``subsection (a)(4)''.

SEC. 405. CLARIFICATION OF CANCELLATION AND TERMINATION ISSUES AND 
            LENDER PAID MORTGAGE INSURANCE DISCLOSURE REQUIREMENTS.

    (a) Good Payment History.--Section 2(4) of the Homeowners Protection 
Act of 1998 (12 U.S.C. 4901(4)) is amended--
            (1) in subparagraph (A)--
                    (A) by inserting ``the later of (i)'' before ``the 
                date''; and
                    (B) by inserting ``, or (ii) the date that the 
                mortgagor submits a request for cancellation under 
                section 3(a)(1)'' before the semicolon; and
            (2) in subparagraph (B)--
                    (A) by inserting ``the later of (i)'' before ``the 
                date''; and
                    (B) by inserting ``, or (ii) the date that the 
                mortgagor submits a request for cancellation under 
                section 3(a)(1)'' before the period at the end.

    (b) Automatic Termination.--Paragraph (2) of section 3(b) of the 
Homeowners Protection Act of 1998 (12 U.S.C. 4902(b)(2)) is amended to 
read as follows:
            ``(2) if the mortgagor is not current on the termination 
        date, on the first day of the first month beginning after the 
        date that the mortgagor becomes current on the payments required 
        by the terms of the residential mortgage transaction.''.

    (c) Premium Payments.--Section 3 of the Homeowners Protection Act of 
1998 (12 U.S.C. 4902) is amended by adding at the end the following new 
subsection:
    ``(h) Accrued Obligation for Premium Payments.--The cancellation or 
termination under this section of the private mortgage insurance of a 
mortgagor shall not affect the rights of any mortgagee, servicer, or 
mortgage insurer to enforce any obligation of such mortgagor for premium 
payments accrued prior to the date on which such cancellation or 
termination occurred.''.

[[Page 114 STAT. 2959]]

SEC. 406. DEFINITIONS.

    (a) Refinanced.--Section 6(c)(1)(B)(ii) of the Homeowners Protection 
Act of 1998 (12 U.S.C. 4905(c)(1)(B)(ii)) is amended by inserting after 
``refinanced'' the following: ``(under the meaning given such term in 
the regulations issued by the Board of Governors of the Federal Reserve 
System to carry out the Truth in Lending Act (15 U.S.C. 1601 et 
seq.))''.
    (b) Midpoint of the Amortization Period.--Section 2 of the 
Homeowners Protection Act of 1998 (12 U.S.C. 4901) is amended by 
inserting after paragraph (6) (as added by the preceding provisions of 
this title) the following new paragraph:
            ``(7) Midpoint of the amortization period.--The term 
        `midpoint of the amortization period' means, with respect to a 
        residential mortgage transaction, the point in time that is 
        halfway through the period that begins upon the first day of the 
        amortization period established at the time a residential 
        mortgage transaction is consummated and ends upon the completion 
        of the entire period over which the mortgage is scheduled to be 
        amortized.''.

    (c) Original Value.--Section 2(12) of the Homeowners Protection Act 
of 1998 (12 U.S.C. 4901(10)) (as so redesignated by the preceding 
provisions of this title) is amended--
            (1) by inserting ``transaction'' after ``a residential 
        mortgage''; and
            (2) by adding at the end the following new sentence: ``In 
        the case of a residential mortgage transaction for refinancing 
        the principal residence of the mortgagor, such term means only 
        the appraised value relied upon by the mortgagee to approve the 
        refinance transaction.''.

    (d) Principal Residence.--Section 2 of the Homeowners Protection Act 
of 1998 (12 U.S.C. 4901) is amended--
            (1) in paragraph (14) (as so redesignated by the preceding 
        provisions of this title) by striking ``primary'' and inserting 
        ``principal''; and
            (2) in paragraph (15) (as so redesignated by the preceding 
        provisions of this title) by striking ``primary'' and inserting 
        ``principal''.

                 TITLE V--NATIVE AMERICAN HOMEOWNERSHIP

                   Subtitle A--Native American Housing

SEC. 501. <<NOTE: 25 USC 4043 note.>> LANDS TITLE REPORT COMMISSION.

    (a) Establishment.--Subject to sums being provided in advance in 
appropriations Acts, there is established a Commission to be known as 
the Lands Title Report Commission (hereafter in this section referred to 
as the ``Commission'') to facilitate home loan mortgages on Indian trust 
lands. The Commission will be subject to oversight by the Committee on 
Banking and Financial Services of the House of Representatives and the 
Committee on Banking, Housing, and Urban Affairs of the Senate.
    (b) Membership.--

[[Page 114 STAT. 2960]]

            (1) Appointment.--The Commission shall be composed of 12 
        members, appointed not later than 90 days after the date of the 
        enactment of this Act as follows:
                    (A) Four members shall be appointed by the 
                President.
                    (B) Four members shall be appointed by the 
                Chairperson of the Committee on Banking and Financial 
                Services of the House of Representatives.
                    (C) Four members shall be appointed by the 
                Chairperson of the Committee on Banking, Housing, and 
                Urban Affairs of the Senate.
            (2) Qualifications.--
                    (A) Members of tribes.--At all times, not less than 
                eight of the members of the Commission shall be members 
                of federally recognized Indian tribes.
                    (B) Experience in land title matters.--All members 
                of the Commission shall have experience in and knowledge 
                of land title matters relating to Indian trust lands.
            (3) Chairperson.--The Chairperson of the Commission shall be 
        one of the members of the Commission appointed under paragraph 
        (1)(C), as elected by the members of the Commission.
            (4) Vacancies.--Any vacancy on the Commission shall not 
        affect its powers, but shall be filled in the manner in which 
        the original appointment was made.
            (5) Travel expenses.--Members of the Commission shall serve 
        without pay, but each member shall receive travel expenses, 
        including per diem in lieu of subsistence, in accordance with 
        sections 5702 and 5703 of title 5, United States Code.

    (c) Initial Meeting.--The Chairperson of the Commission shall call 
the initial meeting of the Commission. Such meeting shall be held within 
30 days after the Chairperson of the Commission determines that sums 
sufficient for the Commission to carry out its duties under this Act 
have been appropriated for such purpose.
    (d) Duties.--The Commission shall analyze the system of the Bureau 
of Indian Affairs of the Department of the Interior for maintaining land 
ownership records and title documents and issuing certified title status 
reports relating to Indian trust lands and, pursuant to such analysis, 
determine how best to improve or replace the system--
            (1) to ensure prompt and accurate responses to requests for 
        title status reports;
            (2) to eliminate any backlog of requests for title status 
        reports; and
            (3) to ensure that the administration of the system will not 
        in any way impair or restrict the ability of Native Americans to 
        obtain conventional loans for purchase of residences located on 
        Indian trust lands, including any actions necessary to ensure 
        that the system will promptly be able to meet future demands for 
        certified title status reports, taking into account the 
        anticipated complexity and volume of such requests.

    (e) Report.--Not later <<NOTE: Deadline.>> than the date of the 
termination of the Commission under subsection (h), the Commission shall 
submit a report to the Committee on Banking and Financial Services of 
the House of Representatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate describing the analysis and determinations 
made pursuant to subsection (d).

[[Page 114 STAT. 2961]]

    (f ) Powers.--
            (1) Hearings and sessions.--The Commission may, for the 
        purpose of carrying out this section, hold hearings, sit and act 
        at times and places, take testimony, and receive evidence as the 
        Commission considers appropriate.
            (2) Staff of federal agencies.--Upon request of the 
        Commission, the head of any Federal department or agency may 
        detail, on a reimbursable basis, any of the personnel of that 
        department or agency to the Commission to assist it in carrying 
        out its duties under this section.
            (3) Obtaining official data.--The Commission may secure 
        directly from any department or agency of the United States 
        information necessary to enable it to carry out this section. 
        Upon request of the Chairperson of the Commission, the head of 
        that department or agency shall furnish that information to the 
        Commission.
            (4) Mails.--The Commission may use the United States mails 
        in the same manner and under the same conditions as other 
        departments and agencies of the United States.
            (5) Administrative support services.--Upon the request of 
        the Commission, the Administrator of General Services shall 
        provide to the Commission, on a reimbursable basis, the 
        administrative support services necessary for the Commission to 
        carry out its duties under this section.
            (6) Staff.--The Commission may appoint personnel as it 
        considers appropriate, subject to the provisions of title 5, 
        United States Code, governing appointments in the competitive 
        service, and shall pay such personnel in accordance with the 
        provisions of chapter 51 and subchapter III of chapter 53 of 
        that title relating to classification and General Schedule pay 
        rates.

    (g) Authorization of Appropriations.--There is authorized to be 
appropriated to carry out this section such sums as may be necessary, 
and any amounts appropriated pursuant to this subsection shall remain 
available until expended.
    (h) Termination.--The Commission shall terminate 1 year after the 
date of the initial meeting of the Commission.

SEC. 502. LOAN GUARANTEES.

    Section 184(i) of the Housing and Community Development Act of 1992 
(12 U.S.C. 1715z-13a(i)) is amended--
            (1) in paragraph (5), by striking subparagraph (C) and 
        inserting the following new subparagraph:
                    ``(C) Limitation on outstanding aggregate principal 
                amount.--Subject to the limitations in subparagraphs (A) 
                and (B), the Secretary may enter into commitments to 
                guarantee loans under this section in each fiscal year 
                with an aggregate outstanding principal amount not 
                exceeding such amount as may be provided in 
                appropriation Acts for such fiscal year.''; and
            (2) in paragraph (7), by striking ``each of fiscal years 
        1997, 1998, 1999, 2000, and 2001'' and inserting ``each fiscal 
        year''.

SEC. 503. NATIVE AMERICAN HOUSING ASSISTANCE.

    (a) Restriction on Waiver Authority.--
            (1) In general.--Section 101(b)(2) of the Native American 
        Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 
        4111(b)(2)) is amended by striking ``if the Secretary'' and all 
        that follows through the period at the end and inserting

[[Page 114 STAT. 2962]]

        the following: ``for a period of not more than 90 days, if the 
        Secretary determines that an Indian tribe has not complied with, 
        or is unable to comply with, those requirements due to exigent 
        circumstances beyond the control of the Indian tribe.''.
            (2) Local cooperation agreement.--Section 101(c) of the 
        Native American Housing Assistance and Self-Determination Act of 
        1996 (25 U.S.C. 4111(c)) is amended by adding at the end the 
        following: ``The Secretary may waive the requirements of this 
        subsection and subsection (d) if the recipient has made a good 
        faith effort to fulfill the requirements of this subsection and 
        subsection (d) and agrees to make payments in lieu of taxes to 
        the appropriate taxing authority in an amount consistent with 
        the requirements of subsection (d)(2) until such time as the 
        matter of making such payments has been resolved in accordance 
        with subsection (d).''.

    (b) Assistance to Families That Are Not Low-Income.--Section 102(c) 
of the Native American Housing Assistance and Self-Determination Act of 
1996 (25 U.S.C. 4112(c)) is amended by adding at the end the following:
            ``(6) Certain families.--With respect to assistance provided 
        under section 201(b)(2) by a recipient to Indian families that 
        are not low-income families, evidence that there is a need for 
        housing for each such family during that period that cannot 
        reasonably be met without such assistance.''.

    (c) Elimination of Waiver Authority for Small Tribes.--Section 102 
of the Native American Housing Assistance and Self-Determination Act of 
1996 (25 U.S.C. 4112) is amended--
            (1) by striking subsection (f ); and
            (2) by redesignating subsection (g) as subsection (f ).

    (d) Environmental Compliance.--Section 105 of the Native American 
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4115) 
is amended by adding at the end the following:
    ``(d) Environmental Compliance.--The Secretary may waive the 
requirements under this section if the Secretary determines that a 
failure on the part of a recipient to comply with provisions of this 
section--
            ``(1) will not frustrate the goals of the National 
        Environmental Policy Act of 1969 (42 U.S.C. 4331 et seq.) or any 
        other provision of law that furthers the goals of that Act;
            ``(2) does not threaten the health or safety of the 
        community involved by posing an immediate or long-term hazard to 
        residents of that community;
            ``(3) is a result of inadvertent error, including an 
        incorrect or incomplete certification provided under subsection 
        (c)(1); and
            ``(4) may be corrected through the sole action of the 
        recipient.''.

    (e) Oversight.--
            (1) Repayment.--Section 209 of the Native American Housing 
        Assistance and Self-Determination Act of 1996 (25 U.S.C. 4139) 
        is amended to read as follows:

``SEC. 209. NONCOMPLIANCE WITH AFFORDABLE HOUSING REQUIREMENT.

    ``If a recipient uses grant amounts to provide affordable housing 
under this title, and at any time during the useful life of the housing 
the recipient does not comply with the requirement under

[[Page 114 STAT. 2963]]

section 205(a)(2), the Secretary shall take appropriate action under 
section 401(a).''.
            (2) Audits and reviews.--Section 405 of the Native American 
        Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 
        4165) is amended to read as follows:

``SEC. 405. REVIEW AND AUDIT BY SECRETARY.

    ``(a) Requirements Under Chapter 75 of Title 31, United States 
Code.--An entity designated by an Indian tribe as a housing entity shall 
be treated, for purposes of chapter 75 of title 31, United States Code, 
as a non-Federal entity that is subject to the audit requirements that 
apply to non-Federal entities under that chapter.
    ``(b) Additional Reviews and Audits.--
            ``(1) In general.--In addition to any audit or review under 
        subsection (a), to the extent the Secretary determines such 
        action to be appropriate, the Secretary may conduct an audit or 
        review of a recipient in order to--
                    ``(A) determine whether the recipient--
                          ``(i) has carried out--
                                    ``(I) eligible activities in a 
                                timely manner; and
                                    ``(II) eligible activities and 
                                certification in accordance with this 
                                Act and other applicable law;
                          ``(ii) has a continuing capacity to carry out 
                      eligible activities in a timely manner; and
                          ``(iii) is in compliance with the Indian 
                      housing plan of the recipient; and
                    ``(B) verify the accuracy of information contained 
                in any performance report submitted by the recipient 
                under section 404.
            ``(2) On-site visits.--To the extent practicable, the 
        reviews and audits conducted under this subsection shall include 
        on-site visits by the appropriate official of the Department of 
        Housing and Urban Development.

    ``(c) Review of Reports.--
            ``(1) In general.--The <<NOTE: Notice. Deadline.>> Secretary 
        shall provide each recipient that is the subject of a report 
        made by the Secretary under this section notice that the 
        recipient may review and comment on the report during a period 
        of not less than 30 days after the date on which notice is 
        issued under this paragraph.
            ``(2) Public availability.--After taking into consideration 
        any comments of the recipient under paragraph (1), the 
        Secretary--
                    ``(A) may revise the report; and
                    ``(B) not later than <<NOTE: Deadline.>> 30 days 
                after the date on which those comments are received, 
                shall make the comments and the report (with any 
                revisions made under subparagraph (A)) readily available 
                to the public.

    ``(d) Effect of Reviews.--Subject to section 401(a), after reviewing 
the reports and audits relating to a recipient that are submitted to the 
Secretary under this section, the Secretary may adjust the amount of a 
grant made to a recipient under this Act in accordance with the findings 
of the Secretary with respect to those reports and audits.''.

[[Page 114 STAT. 2964]]

    (f ) Allocation Formula.--Section 302(d)(1) of the Native American 
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 
4152(d)(1)) is amended--
            (1) by striking ``The formula,'' and inserting the 
        following:
                    ``(A) In general.--Except with respect to an Indian 
                tribe described in subparagraph (B), the formula''; and
            (2) by adding at the end the following:
                    ``(B) Certain indian tribes.--With respect to fiscal 
                year 2001 and each fiscal year thereafter, for any 
                Indian tribe with an Indian housing authority that owns 
                or operates fewer than 250 public housing units, the 
                formula shall provide that if the amount provided for a 
                fiscal year in which the total amount made available for 
                assistance under this Act is equal to or greater than 
                the amount made available for fiscal year 1996 for 
                assistance for the operation and modernization of the 
                public housing referred to in subparagraph (A), then the 
                amount provided to that Indian tribe as modernization 
                assistance shall be equal to the average annual amount 
                of funds provided to the Indian tribe (other than funds 
                provided as emergency assistance) under the assistance 
                program under section 14 of the United States Housing 
                Act of 1937 (42 U.S.C. 1437l) for the period beginning 
                with fiscal year 1992 and ending with fiscal year 
                1997.''.

    (g) Hearing Requirement.--Section 401(a) of the Native American 
Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 
4161(a)) is amended--
            (1) by redesignating paragraphs (1) through (4) as 
        subparagraphs (A) through (D), respectively, and realigning such 
        subparagraphs (as so redesignated) so as to be indented 4 ems 
        from the left margin;
            (2) by striking ``Except as provided'' and inserting the 
        following:
            ``(1) In general.--Except as provided'';
            (3) by striking ``If the Secretary takes an action under 
        paragraph (1), (2), or (3)'' and inserting the following:
            ``(2) Continuance of actions.--If the Secretary takes an 
        action under subparagraph (A), (B), or (C) of paragraph (1)''; 
        and
            (4) by adding at the end the following:
            ``(3) Exception for certain actions.--
                    ``(A) In general.--Notwithstanding any other 
                provision of this subsection, if the Secretary makes a 
                determination that the failure of a recipient of 
                assistance under this Act to comply substantially with 
                any material provision (as that term is defined by the 
                Secretary) of this Act is resulting, and would continue 
                to result, in a continuing expenditure of Federal funds 
                in a manner that is not authorized by law, the Secretary 
                may take an action described in paragraph (1)(C) before 
                conducting a hearing.
                    ``(B) Procedural requirement.--If the Secretary 
                takes an action described in subparagraph (A), the 
                Secretary shall--
                          ``(i) <<NOTE: Notice.>> provide notice to the 
                      recipient at the time that the Secretary takes 
                      that action; and

[[Page 114 STAT. 2965]]

                          ``(ii) <<NOTE: Deadline.>> conduct a hearing 
                      not later than 60 days after the date on which the 
                      Secretary provides notice under clause (i).
                    ``(C) Determination.--Upon completion of a hearing 
                under this paragraph, the Secretary shall make a 
                determination regarding whether to continue taking the 
                action that is the subject of the hearing, or take 
                another action under this subsection.''.

    (h) Performance Agreement Time Limit.--Section 401(b) of the Native 
American Housing Assistance and Self-Determination Act of 1996 (25 
U.S.C. 4161(b)) is amended--
            (1) by striking ``If the Secretary'' and inserting the 
        following:
            ``(1) In general.--If the Secretary'';
            (2) by striking ``(1) is not'' and inserting the following:
                    ``(A) is not'';
            (3) by striking ``(2) is a result'' and inserting the 
        following:
                    ``(B) is a result'';
            (4) in the flush material following paragraph (1)(B), as 
        redesignated by paragraph (3) of this subsection--
                    (A) by realigning such material so as to be indented 
                2 ems from the left margin; and
                    (B) by inserting before the period at the end the 
                following: ``, if the recipient enters into a 
                performance agreement with the Secretary that specifies 
                the compliance objectives that the recipient will be 
                required to achieve by the termination date of the 
                performance agreement''; and
            (5) by adding at the end the following:
            ``(2) Performance agreement.--The period of a performance 
        agreement described in paragraph (1) shall be for 1 year.
            ``(3) Review.--Upon the termination of a performance 
        agreement entered into under paragraph (1), the Secretary shall 
        review the performance of the recipient that is a party to the 
        agreement.
            ``(4) Effect of review.--If, on the basis of a review under 
        paragraph (3), the Secretary determines that the recipient--
                    ``(A) has made a good faith effort to meet the 
                compliance objectives specified in the agreement, the 
                Secretary may enter into an additional performance 
                agreement for the period specified in paragraph (2); and
                    ``(B) has failed to make a good faith effort to meet 
                applicable compliance objectives, the Secretary shall 
                determine the recipient to have failed to comply 
                substantially with this Act, and the recipient shall be 
                subject to an action under subsection (a).''.

    (i) Labor Standards.--Section 104(b) of the Native American Housing 
Assistance and Self-Determination Act of 1996 (25 U.S.C. 4114(b)) is 
amended--
            (1) in paragraph (1), by striking ``Davis-Bacon Act (40 
        U.S.C. 276a-276a-5)'' and inserting ``Act of March 3, 1931 
        (commonly known as the Davis-Bacon Act; chapter 411; 46 Stat. 
        1494; 40 U.S.C. 276a et seq.)''; and
            (2) by adding at the end the following new paragraph:
            ``(3) Application of tribal laws.--Paragraph (1) shall not 
        apply to any contract or agreement for assistance, sale, or 
        lease pursuant to this Act, if such contract or agreement is 
        otherwise covered by one or more laws or regulations adopted

[[Page 114 STAT. 2966]]

        by an Indian tribe that requires the payment of not less than 
        prevailing wages, as determined by the Indian tribe.''.

    ( j) Technical and Conforming Amendments.--
            (1) Table of contents.--Section 1(b) of the Native American 
        Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 
        4101 note) is amended in the table of contents--
                    (A) by striking the item relating to section 206; 
                and
                    (B) by striking the item relating to section 209 and 
                inserting the following:

``209. Noncompliance with affordable housing requirement.''.

            (2) Certification of compliance with subsidy layering 
        requirements.--Section 206 of the Native American Housing 
        Assistance and Self-Determination Act of 1996 (25 U.S.C. 4136) 
        is repealed.
            (3) Terminations.--Section 502(a) of the Native American 
        Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 
        4181(a)) is amended by adding at the end the following: ``Any 
        housing that is the subject of a contract for tenant-based 
        assistance between the Secretary and an Indian housing authority 
        that is terminated under this section shall, for the following 
        fiscal year and each fiscal year thereafter, be considered to be 
        a dwelling unit under section 302(b)(1).''.

   Subtitle B--Native <<NOTE: Hawaiian Homelands Homeownership Act of 
2000.>> Hawaiian Housing

SEC. 511. <<NOTE: 25 USC 4101 note.>> SHORT TITLE.

    This subtitle may be cited as the ``Hawaiian Homelands Homeownership 
Act of 2000''.

SEC. 512. FINDINGS.

    The Congress finds that--
            (1) the <<NOTE: 25 USC 4221 note.>> United States has 
        undertaken a responsibility to promote the general welfare of 
        the United States by--
                    (A) employing its resources to remedy the unsafe and 
                unsanitary housing conditions and the acute shortage of 
                decent, safe, and sanitary dwellings for families of 
                lower income; and
                    (B) developing effective partnerships with 
                governmental and private entities to accomplish the 
                objectives referred to in subparagraph (A);
            (2) the United States has a special responsibility for the 
        welfare of the Native peoples of the United States, including 
        Native Hawaiians;
            (3) pursuant to the provisions of the Hawaiian Homes 
        Commission Act, 1920 (42 Stat. 108 et seq.), the United States 
        set aside 200,000 acres of land in the Federal territory that 
        later became the State of Hawaii in order to establish a 
        homeland for the native people of Hawaii--Native Hawaiians;
            (4) despite the intent of Congress in 1920 to address the 
        housing needs of Native Hawaiians through the enactment of the 
        Hawaiian Homes Commission Act, 1920 (42 Stat. 108 et seq.), 
        Native Hawaiians eligible to reside on the Hawaiian home lands 
        have been foreclosed from participating in Federal housing 
        assistance programs available to all other eligible families in 
        the United States;

[[Page 114 STAT. 2967]]

            (5) although Federal housing assistance programs have been 
        administered on a racially neutral basis in the State of Hawaii, 
        Native Hawaiians continue to have the greatest unmet need for 
        housing and the highest rates of overcrowding in the United 
        States;
            (6) among the Native American population of the United 
        States, Native Hawaiians experience the highest percentage of 
        housing problems in the United States, as the percentage--
                    (A) of housing problems in the Native Hawaiian 
                population is 49 percent, as compared to--
                          (i) 44 percent for American Indian and Alaska 
                      Native households in Indian country; and
                          (ii) 27 percent for all other households in 
                      the United States; and
                    (B) overcrowding in the Native Hawaiian population 
                is 36 percent as compared to 3 percent for all other 
                households in the United States;
            (7) among the Native Hawaiian population, the needs of 
        Native Hawaiians, as that term is defined in section 801 of the 
        Native American Housing Assistance and Self-Determination Act of 
        1996 (as added by this subtitle), eligible to reside on the 
        Hawaiian Home Lands are the most severe, as--
                    (A) the percentage of overcrowding in Native 
                Hawaiian households on the Hawaiian Home Lands is 36 
                percent; and
                    (B) approximately 13,000 Native Hawaiians, which 
                constitute 95 percent of the Native Hawaiians who are 
                eligible to reside on the Hawaiian Home Lands, are in 
                need of housing;
            (8) applying the Department of Housing and Urban Development 
        guidelines--
                    (A) 70.8 percent of Native Hawaiians who either 
                reside or who are eligible to reside on the Hawaiian 
                Home Lands have incomes that fall below the median 
                family income; and
                    (B) 50 percent of Native Hawaiians who either reside 
                or who are eligible to reside on the Hawaiian Home Lands 
                have incomes below 30 percent of the median family 
                income;
            (9) one-third of those Native Hawaiians who are eligible to 
        reside on the Hawaiian Home Lands pay more than 30 percent of 
        their income for shelter, and one-half of those Native Hawaiians 
        face overcrowding;
            (10) the extraordinarily severe housing needs of Native 
        Hawaiians demonstrate that Native Hawaiians who either reside 
        on, or are eligible to reside on, Hawaiian Home Lands have been 
        denied equal access to Federal low-income housing assistance 
        programs available to other qualified residents of the United 
        States, and that a more effective means of addressing their 
        housing needs must be authorized;
            (11) consistent with the recommendations of the National 
        Commission on American Indian, Alaska Native, and Native 
        Hawaiian Housing, and in order to address the continuing 
        prevalence of extraordinarily severe housing needs among Native 
        Hawaiians who either reside or are eligible to reside on the 
        Hawaiian Home Lands, Congress finds it necessary to extend the 
        Federal low-income housing assistance available

[[Page 114 STAT. 2968]]

        to American Indians and Alaska Natives under the Native American 
        Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 
        4101 et seq.) to those Native Hawaiians;
            (12) under the treatymaking power of the United States, 
        Congress had the constitutional authority to confirm a treaty 
        between the United States and the government that represented 
        the Hawaiian people, and from 1826 until 1893, the United States 
        recognized the independence of the Kingdom of Hawaii, extended 
        full diplomatic recognition to the Hawaiian Government, and 
        entered into treaties and conventions with the Hawaiian monarchs 
        to govern commerce and navigation in 1826, 1842, 1849, 1875, and 
        1887;
            (13) the United States has recognized and reaffirmed that--
                    (A) Native Hawaiians have a cultural, historic, and 
                land-based link to the indigenous people who exercised 
                sovereignty over the Hawaiian Islands, and that group 
                has never relinquished its claims to sovereignty or its 
                sovereign lands;
                    (B) Congress does not extend services to Native 
                Hawaiians because of their race, but because of their 
                unique status as the indigenous people of a once 
                sovereign nation as to whom the United States has 
                established a trust relationship;
                    (C) Congress has also delegated broad authority to 
                administer a portion of the Federal trust responsibility 
                to the State of Hawaii;
                    (D) the political status of Native Hawaiians is 
                comparable to that of American Indians and Alaska 
                Natives; and
                    (E) the aboriginal, indigenous people of the United 
                States have--
                          (i) a continuing right to autonomy in their 
                      internal affairs; and
                          (ii) an ongoing right of self-determination 
                      and self-governance that has never been 
                      extinguished;
            (14) the political relationship between the United States 
        and the Native Hawaiian people has been recognized and 
        reaffirmed by the United States as evidenced by the inclusion of 
        Native Hawaiians in--
                    (A) the Native American Programs Act of 1974 (42 
                U.S.C. 2291 et seq.);
                    (B) the American Indian Religious Freedom Act (42 
                U.S.C. 1996 et seq.);
                    (C) the National Museum of the American Indian Act 
                (20 U.S.C. 80q et seq.);
                    (D) the Native American Graves Protection and 
                Repatriation Act (25 U.S.C. 3001 et seq.);
                    (E) the National Historic Preservation Act (16 
                U.S.C. 470 et seq.);
                    (F) the Native American Languages Act of 1992 (106 
                Stat. 3434);
                    (G) the American Indian, Alaska Native and Native 
                Hawaiian Culture and Arts Development Act (20 U.S.C. 
                4401 et seq.);
                    (H) the Job Training Partnership Act (29 U.S.C. 1501 
                et seq.); and

[[Page 114 STAT. 2969]]

                    (I) the Older Americans Act of 1965 (42 U.S.C. 3001 
                et seq.); and
            (15) in the area of housing, the United States has 
        recognized and reaffirmed the political relationship with the 
        Native Hawaiian people through--
                    (A) the enactment of the Hawaiian Homes Commission 
                Act, 1920 (42 Stat. 108 et seq.), which set aside 
                approximately 200,000 acres of public lands that became 
                known as Hawaiian Home Lands in the Territory of Hawaii 
                that had been ceded to the United States for 
                homesteading by Native Hawaiians in order to 
                rehabilitate a landless and dying people;
                    (B) the enactment of the Act entitled ``An Act to 
                provide for the admission of the State of Hawaii into 
                the Union'', approved March 18, 1959 (73 Stat. 4)--
                          (i) by ceding to the State of Hawaii title to 
                      the public lands formerly held by the United 
                      States, and mandating that those lands be held in 
                      public trust, for the betterment of the conditions 
                      of Native Hawaiians, as that term is defined in 
                      section 201 of the Hawaiian Homes Commission Act, 
                      1920 (42 Stat. 108 et seq.); and
                          (ii) by transferring the United States 
                      responsibility for the administration of Hawaiian 
                      Home Lands to the State of Hawaii, but retaining 
                      the authority to enforce the trust, including the 
                      exclusive right of the United States to consent to 
                      any actions affecting the lands which comprise the 
                      corpus of the trust and any amendments to the 
                      Hawaiian Homes Commission Act, 1920 (42 Stat. 108 
                      et seq.), enacted by the legislature of the State 
                      of Hawaii affecting the rights of beneficiaries 
                      under the Act;
                    (C) the authorization of mortgage loans insured by 
                the Federal Housing Administration for the purchase, 
                construction, or refinancing of homes on Hawaiian Home 
                Lands under the National Housing Act (Public Law 479; 
                73d Congress; 12 U.S.C. 1701 et seq.);
                    (D) authorizing Native Hawaiian representation on 
                the National Commission on American Indian, Alaska 
                Native, and Native Hawaiian Housing under Public Law 
                101-235;
                    (E) the inclusion of Native Hawaiians in the 
                definition under section 3764 of title 38, United States 
                Code, applicable to subchapter V of chapter 37 of title 
                38, United States Code (relating to a housing loan 
                program for Native American veterans); and
                    (F) the enactment of the Hawaiian Home Lands 
                Recovery Act (109 Stat. 357; 48 U.S.C. 491, note prec.) 
                which establishes a process for the conveyance of 
                Federal lands to the Department of Hawaiian Homes Lands 
                that are equivalent in value to lands acquired by the 
                United States from the Hawaiian Home Lands inventory.

SEC. 513. HOUSING ASSISTANCE.

    The Native American Housing Assistance and Self-Determination Act of 
1996 (25 U.S.C. 4101 et seq.) is amended by adding at the end the 
following:

[[Page 114 STAT. 2970]]

          ``TITLE VIII--HOUSING ASSISTANCE FOR NATIVE HAWAIIANS

``SEC. 801. <<NOTE: 25 USC 4221.>> DEFINITIONS.

    ``In this title:
            ``(1) Department of hawaiian home lands; department.--The 
        term `Department of Hawaiian Home Lands' or `Department' means 
        the agency or department of the government of the State of 
        Hawaii that is responsible for the administration of the 
        Hawaiian Homes Commission Act, 1920 (42 Stat. 108 et seq.).
            ``(2) Director.--The term `Director' means the Director of 
        the Department of Hawaiian Home Lands.
            ``(3) Elderly families; near-elderly families.--
                    ``(A) In general.--The term `elderly family' or 
                `near-elderly family' means a family whose head (or his 
                or her spouse), or whose sole member, is--
                          ``(i) for an elderly family, an elderly 
                      person; or
                          ``(ii) for a near-elderly family, a near-
                      elderly person.
                    ``(B) Certain families included.--The term `elderly 
                family' or `near-elderly family' includes--
                          ``(i) two or more elderly persons or near-
                      elderly persons, as the case may be, living 
                      together; and
                          ``(ii) one or more persons described in clause 
                      (i) living with one or more persons determined 
                      under the housing plan to be essential to their 
                      care or well-being.
            ``(4) Hawaiian home lands.--The term `Hawaiian Home Lands' 
        means lands that--
                    ``(A) have the status as Hawaiian home lands under 
                section 204 of the Hawaiian Homes Commission Act, 1920 
                (42 Stat. 110); or
                    ``(B) are acquired pursuant to that Act.
            ``(5) Housing area.--The term `housing area' means an area 
        of Hawaiian Home Lands with respect to which the Department of 
        Hawaiian Home Lands is authorized to provide assistance for 
        affordable housing under this Act.
            ``(6) Housing entity.--The term `housing entity' means the 
        Department of Hawaiian Home Lands.
            ``(7) Housing plan.--The term `housing plan' means a plan 
        developed by the Department of Hawaiian Home Lands.
            ``(8) Median income.--The term `median income' means, with 
        respect to an area that is a Hawaiian housing area, the greater 
        of--
                    ``(A) the median income for the Hawaiian housing 
                area, which shall be determined by the Secretary; or
                    ``(B) the median income for the State of Hawaii.
            ``(9) Native hawaiian.--The term `Native Hawaiian' means any 
        individual who is--
                    ``(A) a citizen of the United States; and
                    ``(B) a descendant of the aboriginal people, who, 
                prior to 1778, occupied and exercised sovereignty in the 
                area that currently constitutes the State of Hawaii, as 
                evidenced by--
                          ``(i) genealogical records;

[[Page 114 STAT. 2971]]

                          ``(ii) verification by kupuna (elders) or 
                      kama'aina (long-term community residents); or
                          ``(iii) birth records of the State of Hawaii.

``SEC. 802. <<NOTE: 25 USC 4222.>> BLOCK GRANTS FOR AFFORDABLE HOUSING 
            ACTIVITIES.

    ``(a) Grant Authority.--For each fiscal year, the Secretary shall 
(to the extent amounts are made available to carry out this title) make 
a grant under this title to the Department of Hawaiian Home Lands to 
carry out affordable housing activities for Native Hawaiian families who 
are eligible to reside on the Hawaiian Home Lands.
    ``(b) Plan Requirement.--
            ``(1) In general.--The Secretary may make a grant under this 
        title to the Department of Hawaiian Home Lands for a fiscal year 
        only if--
                    ``(A) the Director has submitted to the Secretary a 
                housing plan for that fiscal year; and
                    ``(B) the Secretary has determined under section 804 
                that the housing plan complies with the requirements of 
                section 803.
            ``(2) Waiver.--The Secretary may waive the applicability of 
        the requirements under paragraph (1), in part, if the Secretary 
        finds that the Department of Hawaiian Home Lands has not 
        complied or cannot comply with those requirements due to 
        circumstances beyond the control of the Department of Hawaiian 
        Home Lands.

    ``(c) Use of Affordable Housing Activities Under Plan.--Except as 
provided in subsection (e), amounts provided under a grant under this 
section may be used only for affordable housing activities under this 
title that are consistent with a housing plan approved under section 
804.
    ``(d) Administrative Expenses.--
            ``(1) In general.--The <<NOTE: Regulations.>> Secretary 
        shall, by regulation, authorize the Department of Hawaiian Home 
        Lands to use a percentage of any grant amounts received under 
        this title for any reasonable administrative and planning 
        expenses of the Department relating to carrying out this title 
        and activities assisted with those amounts.
            ``(2) Administrative and planning expenses.--The 
        administrative and planning expenses referred to in paragraph 
        (1) include--
                    ``(A) costs for salaries of individuals engaged in 
                administering and managing affordable housing activities 
                assisted with grant amounts provided under this title; 
                and
                    ``(B) expenses incurred in preparing a housing plan 
                under section 803.

    ``(e) Public-Private Partnerships.--The Director shall make all 
reasonable efforts, consistent with the purposes of this title, to 
maximize participation by the private sector, including nonprofit 
organizations and for-profit entities, in implementing a housing plan 
that has been approved by the Secretary under section 803.

``SEC. 803. <<NOTE: 25 USC 4223.>> HOUSING PLAN.

    ``(a) Plan Submission.--The Secretary shall--
            ``(1) require the Director to submit a housing plan under 
        this section for each fiscal year; and
            ``(2) provide for the review of each plan submitted under 
        paragraph (1).

[[Page 114 STAT. 2972]]

    ``(b) Five-Year Plan.--Each housing plan under this section shall--
            ``(1) be in a form prescribed by the Secretary; and
            ``(2) contain, with respect to the 5-year period beginning 
        with the fiscal year for which the plan is submitted, the 
        following information:
                    ``(A) Mission statement.--A general statement of the 
                mission of the Department of Hawaiian Home Lands to 
                serve the needs of the low-income families to be served 
                by the Department.
                    ``(B) Goals and objectives.--A statement of the 
                goals and objectives of the Department of Hawaiian Home 
                Lands to enable the Department to serve the needs 
                identified in subparagraph (A) during the period.
                    ``(C) Activities plans.--An overview of the 
                activities planned during the period including an 
                analysis of the manner in which the activities will 
                enable the Department to meet its mission, goals, and 
                objectives.

    ``(c) One-Year Plan.--A housing plan under this section shall--
            ``(1) be in a form prescribed by the Secretary; and
            ``(2) contain the following information relating to the 
        fiscal year for which the assistance under this title is to be 
        made available:
                    ``(A) Goals and objectives.--A statement of the 
                goals and objectives to be accomplished during the 
                period covered by the plan.
                    ``(B) Statement of needs.--A statement of the 
                housing needs of the low-income families served by the 
                Department and the means by which those needs will be 
                addressed during the period covered by the plan, 
                including--
                          ``(i) a description of the estimated housing 
                      needs and the need for assistance for the low-
                      income families to be served by the Department, 
                      including a description of the manner in which the 
                      geographical distribution of assistance is 
                      consistent with--
                                    ``(I) the geographical needs of 
                                those families; and
                                    ``(II) needs for various categories 
                                of housing assistance; and
                          ``(ii) a description of the estimated housing 
                      needs for all families to be served by the 
                      Department.
                    ``(C) Financial resources.--An operating budget for 
                the Department of Hawaiian Home Lands, in a form 
                prescribed by the Secretary, that includes--
                          ``(i) an identification and a description of 
                      the financial resources reasonably available to 
                      the Department to carry out the purposes of this 
                      title, including an explanation of the manner in 
                      which amounts made available will be used to 
                      leverage additional resources; and
                          ``(ii) the uses to which the resources 
                      described in clause (i) will be committed, 
                      including--
                                    ``(I) eligible and required 
                                affordable housing activities; and
                                    ``(II) administrative expenses.

[[Page 114 STAT. 2973]]

                    ``(D) Affordable housing resources.--A statement of 
                the affordable housing resources currently available at 
                the time of the submittal of the plan and to be made 
                available during the period covered by the plan, 
                including--
                          ``(i) a description of the significant 
                      characteristics of the housing market in the State 
                      of Hawaii, including the availability of housing 
                      from other public sources, private market housing;
                          ``(ii) the manner in which the characteristics 
                      referred to in clause (i) influence the decision 
                      of the Department of Hawaiian Home Lands to use 
                      grant amounts to be provided under this title 
                      for--
                                    ``(I) rental assistance;
                                    ``(II) the production of new units;
                                    ``(III) the acquisition of existing 
                                units; or
                                    ``(IV) the rehabilitation of units;
                          ``(iii) a description of the structure, 
                      coordination, and means of cooperation between the 
                      Department of Hawaiian Home Lands and any other 
                      governmental entities in the development, 
                      submission, or implementation of housing plans, 
                      including a description of--
                                    ``(I) the involvement of private, 
                                public, and nonprofit organizations and 
                                institutions;
                                    ``(II) the use of loan guarantees 
                                under section 184A of the Housing and 
                                Community Development Act of 1992; and
                                    ``(III) other housing assistance 
                                provided by the United States, including 
                                loans, grants, and mortgage insurance;
                          ``(iv) a description of the manner in which 
                      the plan will address the needs identified 
                      pursuant to subparagraph (C);
                          ``(v) a description of--
                                    ``(I) any existing or anticipated 
                                homeownership programs and rental 
                                programs to be carried out during the 
                                period covered by the plan; and
                                    ``(II) the requirements and 
                                assistance available under the programs 
                                referred to in subclause (I);
                          ``(vi) a description of--
                                    ``(I) any existing or anticipated 
                                housing rehabilitation programs 
                                necessary to ensure the long-term 
                                viability of the housing to be carried 
                                out during the period covered by the 
                                plan; and
                                    ``(II) the requirements and 
                                assistance available under the programs 
                                referred to in subclause (I);
                          ``(vii) a description of--
                                    ``(I) all other existing or 
                                anticipated housing assistance provided 
                                by the Department of Hawaiian Home Lands 
                                during the period covered by the plan, 
                                including--
                                            ``(aa) transitional housing;
                                            ``(bb) homeless housing;
                                            ``(cc) college housing; and
                                            ``(dd) supportive services 
                                        housing; and
                                    ``(II) the requirements and 
                                assistance available under such 
                                programs;

[[Page 114 STAT. 2974]]

                          ``(viii)(I) a description of any housing to be 
                      demolished or disposed of;
                          ``(II) a timetable for that demolition or 
                      disposition; and
                          ``(III) any other information required by the 
                      Secretary with respect to that demolition or 
                      disposition;
                          ``(ix) a description of the manner in which 
                      the Department of Hawaiian Home Lands will 
                      coordinate with welfare agencies in the State of 
                      Hawaii to ensure that residents of the affordable 
                      housing will be provided with access to resources 
                      to assist in obtaining employment and achieving 
                      self-sufficiency;
                          ``(x) a description of the requirements 
                      established by the Department of Hawaiian Home 
                      Lands to--
                                    ``(I) promote the safety of 
                                residents of the affordable housing;
                                    ``(II) facilitate the undertaking of 
                                crime prevention measures;
                                    ``(III) allow resident input and 
                                involvement, including the establishment 
                                of resident organizations; and
                                    ``(IV) allow for the coordination of 
                                crime prevention activities between the 
                                Department and local law enforcement 
                                officials; and
                          ``(xi) a description of the entities that will 
                      carry out the activities under the plan, including 
                      the organizational capacity and key personnel of 
                      the entities.
                    ``(E) Certification of compliance.--Evidence of 
                compliance that shall include, as appropriate--
                          ``(i) a certification that the Department of 
                      Hawaiian Home Lands will comply with--
                                    ``(I) title VI of the Civil Rights 
                                Act of 1964 (42 U.S.C. 2000d et seq.) or 
                                with the Fair Housing Act (42 U.S.C. 
                                3601 et seq.) in carrying out this 
                                title, to the extent that such title is 
                                applicable; and
                                    ``(II) other applicable Federal 
                                statutes;
                          ``(ii) a certification that the Department 
                      will require adequate insurance coverage for 
                      housing units that are owned and operated or 
                      assisted with grant amounts provided under this 
                      title, in compliance with such requirements as may 
                      be established by the Secretary;
                          ``(iii) a certification that policies are in 
                      effect and are available for review by the 
                      Secretary and the public governing the 
                      eligibility, admission, and occupancy of families 
                      for housing assisted with grant amounts provided 
                      under this title;
                          ``(iv) a certification that policies are in 
                      effect and are available for review by the 
                      Secretary and the public governing rents charged, 
                      including the methods by which such rents or 
                      homebuyer payments are determined, for housing 
                      assisted with grant amounts provided under this 
                      title; and
                          ``(v) a certification that policies are in 
                      effect and are available for review by the 
                      Secretary and the public

[[Page 114 STAT. 2975]]

                      governing the management and maintenance of 
                      housing assisted with grant amounts provided under 
                      this title.

    ``(d) Applicability of Civil Rights Statutes.--
            ``(1) In general.--To the extent that the requirements of 
        title VI of the Civil Rights Act of 1964 (42 U.S.C. 2000d et 
        seq.) or of the Fair Housing Act (42 U.S.C. 3601 et seq.) apply 
        to assistance provided under this title, nothing in the 
        requirements concerning discrimination on the basis of race 
        shall be construed to prevent the provision of assistance under 
        this title--
                    ``(A) to the Department of Hawaiian Home Lands on 
                the basis that the Department served Native Hawaiians; 
                or
                    ``(B) to an eligible family on the basis that the 
                family is a Native Hawaiian family.
            ``(2) Civil rights.--Program eligibility under this title 
        may be restricted to Native Hawaiians. Subject to the preceding 
        sentence, no person may be discriminated against on the basis of 
        race, color, national origin, religion, sex, familial status, or 
        disability.

    ``(e) Use of Nonprofit Organizations.--As a condition of receiving 
grant amounts under this title, the Department of Hawaiian Home Lands 
shall, to the extent practicable, provide for private nonprofit 
organizations experienced in the planning and development of affordable 
housing for Native Hawaiians to carry out affordable housing activities 
with those grant amounts.

``SEC. 804. <<NOTE: 25 USC 4224.>> REVIEW OF PLANS.

    ``(a) Review and Notice.--
            ``(1) Review.--
                    ``(A) In general.--The Secretary shall conduct a 
                review of a housing plan submitted to the Secretary 
                under section 803 to ensure that the plan complies with 
                the requirements of that section.
                    ``(B) Limitation.--The Secretary shall have the 
                discretion to review a plan referred to in subparagraph 
                (A) only to the extent that the Secretary considers that 
                the review is necessary.
            ``(2) Notice.--
                    ``(A) In general.--Not 
                later <<NOTE: Deadline.>> than 60 days after receiving a 
                plan under section 803, the Secretary shall notify the 
                Director of the Department of Hawaiian Home Lands 
                whether the plan complies with the requirements under 
                that section.
                    ``(B) Effect of failure of secretary to take 
                action.--For purposes of this title, if the Secretary 
                does not notify the Director, as required under this 
                subsection and subsection (b), upon the expiration of 
                the 60-day period described in subparagraph (A)--
                          ``(i) the plan shall be considered to have 
                      been determined to comply with the requirements 
                      under section 803; and
                          ``(ii) the Director shall be considered to 
                      have been notified of compliance.

    ``(b) Notice of Reasons for Determination of Noncompliance.--If the 
Secretary determines that a plan submitted under

[[Page 114 STAT. 2976]]

section 803 does not comply with the requirements of that section, the 
Secretary shall specify in the notice under subsection (a)--
            ``(1) the reasons for noncompliance; and
            ``(2) any modifications necessary for the plan to meet the 
        requirements of section 803.

    ``(c) Review.--
            ``(1) In general.--After the Director of the Department of 
        Hawaiian Home Lands submits a housing plan under section 803, or 
        any amendment or modification to the plan to the Secretary, to 
        the extent that the Secretary considers such action to be 
        necessary to make a determination under this subsection, the 
        Secretary shall review the plan (including any amendments or 
        modifications thereto) to determine whether the contents of the 
        plan--
                    ``(A) set forth the information required by section 
                803 to be contained in the housing plan;
                    ``(B) are consistent with information and data 
                available to the Secretary; and
                    ``(C) are not prohibited by or inconsistent with any 
                provision of this Act or any other applicable law.
            ``(2) Incomplete plans.--If the Secretary determines under 
        this subsection that any of the appropriate certifications 
        required under section 803(c)(2)(E) are not included in a plan, 
        the plan shall be considered to be incomplete.

    ``(d) Updates to Plan.--
            ``(1) In general.--Subject to paragraph (2), after a plan 
        under section 803 has been submitted for a fiscal year, the 
        Director of the Department of Hawaiian Home Lands may comply 
        with the provisions of that section for any succeeding fiscal 
        year (with respect to information included for the 5-year period 
        under section 803(b) or for the 1-year period under section 
        803(c)) by submitting only such information regarding such 
        changes as may be necessary to update the plan previously 
        submitted.
            ``(2) Complete plans.--The Director shall submit a complete 
        plan under section 803 not later than 4 years after submitting 
        an initial plan under that section, and not less frequently than 
        every 4 years thereafter.

    ``(e) Effective Date.--This section and section 803 shall take 
effect on the date provided by the Secretary pursuant to section 807(a) 
to provide for timely submission and review of the housing plan as 
necessary for the provision of assistance under this title for fiscal 
year 2001.

``SEC. 805. <<NOTE: 25 USC 4225.>> TREATMENT OF PROGRAM INCOME AND LABOR 
            STANDARDS.

    ``(a) Program Income.--
            ``(1) Authority to retain.--The Department of Hawaiian Home 
        Lands may retain any program income that is realized from any 
        grant amounts received by the Department under this title if--
                    ``(A) that income was realized after the initial 
                disbursement of the grant amounts received by the 
                Department; and
                    ``(B) the Director agrees to use the program income 
                for affordable housing activities in accordance with the 
                provisions of this title.

[[Page 114 STAT. 2977]]

            ``(2) Prohibition of reduction of grant.--The Secretary may 
        not reduce the grant amount for the Department of Hawaiian Home 
        Lands based solely on--
                    ``(A) whether the Department retains program income 
                under paragraph (1); or
                    ``(B) the amount of any such program income 
                retained.
            ``(3) Exclusion of amounts.--The Secretary may, by 
        regulation, exclude from consideration as program income any 
        amounts determined to be so small that compliance with the 
        requirements of this subsection would create an unreasonable 
        administrative burden on the Department.

    ``(b) Labor Standards.--
            ``(1) In general.--Any contract or agreement for assistance, 
        sale, or lease pursuant to this title shall contain--
                    ``(A) a provision requiring that an amount not less 
                than the wages prevailing in the locality, as determined 
                or adopted (subsequent to a determination under 
                applicable State or local law) by the Secretary, shall 
                be paid to all architects, technical engineers, 
                draftsmen, technicians employed in the development and 
                all maintenance, and laborers and mechanics employed in 
                the operation, of the affordable housing project 
                involved; and
                    ``(B) a provision that an amount not less than the 
                wages prevailing in the locality, as predetermined by 
                the Secretary of Labor pursuant to the Act commonly 
                known as the `Davis-Bacon Act' (46 Stat. 1494; chapter 
                411; 40 U.S.C. 276a et seq.) shall be paid to all 
                laborers and mechanics employed in the development of 
                the affordable housing involved.
            ``(2) Exceptions.--Paragraph (1) and provisions relating to 
        wages required under paragraph (1) in any contract or agreement 
        for assistance, sale, or lease under this title, shall not apply 
        to any individual who performs the services for which the 
        individual volunteered and who is not otherwise employed at any 
        time in the construction work and received no compensation or is 
        paid expenses, reasonable benefits, or a nominal fee for those 
        services.

``SEC. 806. <<NOTE: 25 USC 4226.>> ENVIRONMENTAL REVIEW.

    ``(a) In General.--
            ``(1) Release of funds.--
                    ``(A) In general.--The Secretary may carry out the 
                alternative environmental protection procedures 
                described in subparagraph (B) in order to ensure--
                          ``(i) that the policies of the National 
                      Environmental Policy Act of 1969 (42 U.S.C. 4321 
                      et seq.) and other provisions of law that further 
                      the purposes of such Act (as specified in 
                      regulations issued by the Secretary) are most 
                      effectively implemented in connection with the 
                      expenditure of grant amounts provided under this 
                      title; and
                          ``(ii) to the public undiminished protection 
                      of the environment.
                    ``(B) Alternative environmental protection 
                procedure.--In lieu of applying environmental protection 
                procedures otherwise applicable, the Secretary may by 
                regulation provide for the release of funds for specific 
                projects to

[[Page 114 STAT. 2978]]

                the Department of Hawaiian Home Lands if the Director of 
                the Department assumes all of the responsibilities for 
                environmental review, decisionmaking, and action under 
                the National Environmental Policy Act of 1969 (42 U.S.C. 
                4321 et seq.), and such other provisions of law as the 
                regulations of the Secretary specify, that would apply 
                to the Secretary were the Secretary to undertake those 
                projects as Federal projects.
            ``(2) Regulations.--
                    ``(A) In general.--The Secretary shall issue 
                regulations to carry out this section only after 
                consultation with the Council on Environmental Quality.
                    ``(B) Contents.--The regulations issued under this 
                paragraph shall--
                          ``(i) provide for the monitoring of the 
                      environmental reviews performed under this 
                      section;
                          ``(ii) in the discretion of the Secretary, 
                      facilitate training for the performance of such 
                      reviews; and
                          ``(iii) provide for the suspension or 
                      termination of the assumption of responsibilities 
                      under this section.
            ``(3) Effect on assumed responsibility.--The duty of the 
        Secretary under paragraph (2)(B) shall not be construed to limit 
        or reduce any responsibility assumed by the Department of 
        Hawaiian Home Lands for grant amounts with respect to any 
        specific release of funds.

    ``(b) Procedure.--
            ``(1) In general.--The Secretary shall authorize the release 
        of funds subject to the procedures under this section only if, 
        not less than 15 days before that approval and before any 
        commitment of funds to such projects, the Director of the 
        Department of Hawaiian Home Lands submits to the Secretary a 
        request for such release accompanied by a certification that 
        meets the requirements of subsection (c).
            ``(2) Effect of approval.--The approval of the Secretary of 
        a certification described in paragraph (1) shall be deemed to 
        satisfy the responsibilities of the Secretary under the National 
        Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.) and 
        such other provisions of law as the regulations of the Secretary 
        specify to the extent that those responsibilities relate to the 
        releases of funds for projects that are covered by that 
        certification.

    ``(c) Certification.--A certification under the procedures under 
this section shall--
            ``(1) be in a form acceptable to the Secretary;
            ``(2) be executed by the Director of the Department of 
        Hawaiian Home Lands;
            ``(3) specify that the Department of Hawaiian Home Lands has 
        fully carried out its responsibilities as described under 
        subsection (a); and
            ``(4) specify that the Director--
                    ``(A) consents to assume the status of a responsible 
                Federal official under the National Environmental Policy 
                Act of 1969 (42 U.S.C. 4321 et seq.) and each provision 
                of law specified in regulations issued by the Secretary 
                to the extent that those laws apply by reason of 
                subsection (a); and

[[Page 114 STAT. 2979]]

                    ``(B) is authorized and consents on behalf of the 
                Department of Hawaiian Home Lands and the Director to 
                accept the jurisdiction of the Federal courts for the 
                purpose of enforcement of the responsibilities of the 
                Director of the Department of Hawaiian Home Lands as 
                such an official.

``SEC. 807. <<NOTE: 25 USC 4227.>> REGULATIONS.

    ``The Secretary shall issue final regulations necessary to carry out 
this title not later than October 1, 2001.

``SEC. 808. <<NOTE: 25 USC 4221 note.>> EFFECTIVE DATE.

    ``Except as otherwise expressly provided in this title, this title 
shall take effect on the date of the enactment of the American 
Homeownership and Economic Opportunity Act of 2000.

``SEC. 809. <<NOTE: 25 USC 4228.>> AFFORDABLE HOUSING ACTIVITIES.

    ``(a) National Objectives and Eligible Families.--
            ``(1) Primary objective.--The national objectives of this 
        title are--
                    ``(A) to assist and promote affordable housing 
                activities to develop, maintain, and operate affordable 
                housing in safe and healthy environments for occupancy 
                by low-income Native Hawaiian families;
                    ``(B) to ensure better access to private mortgage 
                markets and to promote self-sufficiency of low-income 
                Native Hawaiian families;
                    ``(C) to coordinate activities to provide housing 
                for low-income Native Hawaiian families with Federal, 
                State, and local activities to further economic and 
                community development;
                    ``(D) to plan for and integrate infrastructure 
                resources on the Hawaiian Home Lands with housing 
                development; and
                    ``(E) to--
                          ``(i) promote the development of private 
                      capital markets; and
                          ``(ii) allow the markets referred to in clause 
                      (i) to operate and grow, thereby benefiting Native 
                      Hawaiian communities.
            ``(2) Eligible families.--
                    ``(A) In general.--Except as provided under 
                subparagraph (B), assistance for eligible housing 
                activities under this title shall be limited to low-
                income Native Hawaiian families.
                    ``(B) Exception to low-income requirement.--
                          ``(i) In general.--The Director may provide 
                      assistance for homeownership activities under--
                                    ``(I) section 810(b);
                                    ``(II) model activities under 
                                section 810(f ); or
                                    ``(III) loan guarantee activities 
                                under section 184A of the Housing and 
                                Community Development Act of 1992 to 
                                Native Hawaiian families who are not 
                                low-income families, to the extent that 
                                the Secretary approves the activities 
                                under that section to address a need for 
                                housing for those families that cannot 
                                be reasonably met without that 
                                assistance.

[[Page 114 STAT. 2980]]

                          ``(ii) Limitations.--The Secretary shall 
                      establish limitations on the amount of assistance 
                      that may be provided under this title for 
                      activities for families that are not low-income 
                      families.
                    ``(C) Other families.--Notwithstanding paragraph 
                (1), the Director may provide housing or housing 
                assistance provided through affordable housing 
                activities assisted with grant amounts under this title 
                to a family that is not composed of Native Hawaiians 
                if--
                          ``(i) the Department determines that the 
                      presence of the family in the housing involved is 
                      essential to the well-being of Native Hawaiian 
                      families; and
                          ``(ii) the need for housing for the family 
                      cannot be reasonably met without the assistance.
                    ``(D) Preference.--
                          ``(i) In general.--A housing plan submitted 
                      under section 803 may authorize a preference, for 
                      housing or housing assistance provided through 
                      affordable housing activities assisted with grant 
                      amounts provided under this title to be provided, 
                      to the extent practicable, to families that are 
                      eligible to reside on the Hawaiian Home Lands.
                          ``(ii) Application.--In any case in which a 
                      housing plan provides for preference described in 
                      clause (i), the Director shall ensure that housing 
                      activities that are assisted with grant amounts 
                      under this title are subject to that preference.
                    ``(E) Use of nonprofit organizations.--As a 
                condition of receiving grant amounts under this title, 
                the Department of Hawaiian Home Lands, shall to the 
                extent practicable, provide for private nonprofit 
                organizations experienced in the planning and 
                development of affordable housing for Native Hawaiians 
                to carry out affordable housing activities with those 
                grant amounts.

``SEC. 810. <<NOTE: 25 USC 4229.>> ELIGIBLE AFFORDABLE HOUSING 
            ACTIVITIES.

    ``(a) In General.--Affordable housing activities under this section 
are activities conducted in accordance with the requirements of section 
811 to--
            ``(1) develop or to support affordable housing for rental or 
        homeownership; or
            ``(2) provide housing services with respect to affordable 
        housing, through the activities described in subsection (b).

    ``(b) Activities.--The activities described in this subsection are 
the following:
            ``(1) Development.--The acquisition, new construction, 
        reconstruction, or moderate or substantial rehabilitation of 
        affordable housing, which may include--
                    ``(A) real property acquisition;
                    ``(B) site improvement;
                    ``(C) the development of utilities and utility 
                services;
                    ``(D) conversion;
                    ``(E) demolition;
                    ``(F) financing;
                    ``(G) administration and planning; and
                    ``(H) other related activities.

[[Page 114 STAT. 2981]]

            ``(2) Housing services.--The provision of housing-related 
        services for affordable housing, including--
                    ``(A) housing counseling in connection with rental 
                or homeownership assistance;
                    ``(B) the establishment and support of resident 
                organizations and resident management corporations;
                    ``(C) energy auditing;
                    ``(D) activities related to the provisions of self-
                sufficiency and other services; and
                    ``(E) other services related to assisting owners, 
                tenants, contractors, and other entities participating 
                or seeking to participate in other housing activities 
                assisted pursuant to this section.
            ``(3) Housing management services.--The provision of 
        management services for affordable housing, including--
                    ``(A) the preparation of work specifications;
                    ``(B) loan processing;
                    ``(C) inspections;
                    ``(D) tenant selection;
                    ``(E) management of tenant-based rental assistance; 
                and
                    ``(F) management of affordable housing projects.
            ``(4) Crime prevention and safety activities.--The provision 
        of safety, security, and law enforcement measures and activities 
        appropriate to protect residents of affordable housing from 
        crime.
            ``(5) Model activities.--Housing activities under model 
        programs that are--
                    ``(A) designed to carry out the purposes of this 
                title; and
                    ``(B) specifically approved by the Secretary as 
                appropriate for the purpose referred to in subparagraph 
                (A).

``SEC. 811. <<NOTE: 25 USC 4230.>> PROGRAM REQUIREMENTS.

    ``(a) Rents.--
            ``(1) Establishment.--Subject to paragraph (2), as a 
        condition to receiving grant amounts under this title, the 
        Director shall develop written policies governing rents and 
        homebuyer payments charged for dwelling units assisted under 
        this title, including methods by which such rents and homebuyer 
        payments are determined.
            ``(2) Maximum rent.--In the case of any low-income family 
        residing in a dwelling unit assisted with grant amounts under 
        this title, the monthly rent or homebuyer payment (as 
        applicable) for that dwelling unit may not exceed 30 percent of 
        the monthly adjusted income of that family.

    ``(b) Maintenance and Efficient Operation.--
            ``(1) In general.--The Director shall, using amounts of any 
        grants received under this title, reserve and use for operating 
        under section 810 such amounts as may be necessary to provide 
        for the continued maintenance and efficient operation of such 
        housing.
            ``(2) Disposal of certain housing.--This subsection may not 
        be construed to prevent the Director, or any entity funded by 
        the Department, from demolishing or disposing of housing, 
        pursuant to regulations established by the Secretary.

[[Page 114 STAT. 2982]]

    ``(c) Insurance Coverage.--As a condition to receiving grant amounts 
under this title, the Director shall require adequate insurance coverage 
for housing units that are owned or operated or assisted with grant 
amounts provided under this title.
    ``(d) Eligibility for Admission.--As a condition to receiving grant 
amounts under this title, the Director shall develop written policies 
governing the eligibility, admission, and occupancy of families for 
housing assisted with grant amounts provided under this title.
    ``(e) Management and Maintenance.--As a condition to receiving grant 
amounts under this title, the Director shall develop policies governing 
the management and maintenance of housing assisted with grant amounts 
under this title.

``SEC. 812. <<NOTE: 25 USC 4231.>> TYPES OF INVESTMENTS.

    ``(a) In General.--Subject to section 811 and an applicable housing 
plan approved under section 803, the Director shall have--
            ``(1) the discretion to use grant amounts for affordable 
        housing activities through the use of--
                    ``(A) equity investments;
                    ``(B) interest-bearing loans or advances;
                    ``(C) noninterest-bearing loans or advances;
                    ``(D) interest subsidies;
                    ``(E) the leveraging of private investments; or
                    ``(F) any other form of assistance that the 
                Secretary determines to be consistent with the purposes 
                of this title; and
            ``(2) the right to establish the terms of assistance 
        provided with funds referred to in paragraph (1).

    ``(b) Investments.--The Director may invest grant amounts for the 
purposes of carrying out affordable housing activities in investment 
securities and other obligations, as approved by the Secretary.

``SEC. 813. <<NOTE: 25 USC 4232.>> LOW-INCOME REQUIREMENT AND INCOME 
            TARGETING.

    ``(a) In General.--Housing shall qualify for affordable housing for 
purposes of this title only if--
            ``(1) each dwelling unit in the housing--
                    ``(A) in the case of rental housing, is made 
                available for occupancy only by a family that is a low-
                income family at the time of the initial occupancy of 
                that family of that unit; and
                    ``(B) in the case of housing for homeownership, is 
                made available for purchase only by a family that is a 
                low-income family at the time of purchase; and
            ``(2) each dwelling unit in the housing will remain 
        affordable, according to binding commitments satisfactory to the 
        Secretary, for--
                    ``(A) the remaining useful life of the property (as 
                determined by the Secretary) without regard to the term 
                of the mortgage or to transfer of ownership; or
                    ``(B) such other period as the Secretary determines 
                is the longest feasible period of time consistent with 
                sound economics and the purposes of this title, except 
                upon a foreclosure by a lender (or upon other transfer 
                in lieu of foreclosure) if that action--

[[Page 114 STAT. 2983]]

                          ``(i) recognizes any contractual or legal 
                      rights of any public agency, nonprofit sponsor, or 
                      other person or entity to take an action that 
                      would--
                                    ``(I) avoid termination of low-
                                income affordability, in the case of 
                                foreclosure; or
                                    ``(II) transfer ownership in lieu of 
                                foreclosure; and
                          ``(ii) is not for the purpose of avoiding low-
                      income affordability restrictions, as determined 
                      by the Secretary.

    ``(b) Exception.--Notwithstanding subsection (a), housing assistance 
pursuant to section 809(a)(2)(B) shall be considered affordable housing 
for purposes of this title.

``SEC. 814. <<NOTE: 25 USC 4233.>> LEASE REQUIREMENTS AND TENANT 
            SELECTION.

    ``(a) Leases.--Except to the extent otherwise provided by or 
inconsistent with the laws of the State of Hawaii, in renting dwelling 
units in affordable housing assisted with grant amounts provided under 
this title, the Director, owner, or manager shall use leases that--
            ``(1) do not contain unreasonable terms and conditions;
            ``(2) require the Director, owner, or manager to maintain 
        the housing in compliance with applicable housing codes and 
        quality standards;
            ``(3) require the Director, owner, or manager to give 
        adequate written notice of termination of the lease, which shall 
        be the period of time required under applicable State or local 
        law;
            ``(4) specify that, with respect to any notice of eviction 
        or termination, notwithstanding any State or local law, a 
        resident shall be informed of the opportunity, before any 
        hearing or trial, to examine any relevant documents, record, or 
        regulations directly related to the eviction or termination;
            ``(5) require that the Director, owner, or manager may not 
        terminate the tenancy, during the term of the lease, except for 
        serious or repeated violation of the terms and conditions of the 
        lease, violation of applicable Federal, State, or local law, or 
        for other good cause; and
            ``(6) provide that the Director, owner, or manager may 
        terminate the tenancy of a resident for any activity, engaged in 
        by the resident, any member of the household of the resident, or 
        any guest or other person under the control of the resident, 
        that--
                    ``(A) threatens the health or safety of, or right to 
                peaceful enjoyment of the premises by, other residents 
                or employees of the Department, owner, or manager;
                    ``(B) threatens the health or safety of, or right to 
                peaceful enjoyment of their premises by, persons 
                residing in the immediate vicinity of the premises; or
                    ``(C) is criminal activity (including drug-related 
                criminal activity) on or off the premises.

    ``(b) Tenant or Homebuyer Selection.--As a condition to receiving 
grant amounts under this title, the Director shall adopt and use written 
tenant and homebuyer selection policies and criteria that--
            ``(1) are consistent with the purpose of providing housing 
        for low-income families;

[[Page 114 STAT. 2984]]

            ``(2) are reasonably related to program eligibility and the 
        ability of the applicant to perform the obligations of the 
        lease; and
            ``(3) provide for--
                    ``(A) the selection of tenants and homebuyers from a 
                written waiting list in accordance with the policies and 
                goals set forth in an applicable housing plan approved 
                under section 803; and
                    ``(B) the prompt notification in writing of any 
                rejected applicant of the grounds for that rejection.

``SEC. 815. <<NOTE: 25 USC 4234.>> REPAYMENT.

    ``If the Department of Hawaiian Home Lands uses grant amounts to 
provide affordable housing under activities under this title and, at any 
time during the useful life of the housing, the housing does not comply 
with the requirement under section 813(a)(2), the Secretary shall--
            ``(1) reduce future grant payments on behalf of the 
        Department by an amount equal to the grant amounts used for that 
        housing (under the authority of section 819(a)(2)); or
            ``(2) require repayment to the Secretary of any amount equal 
        to those grant amounts.

``SEC. 816. <<NOTE: 25 USC 4235.>> ANNUAL ALLOCATION.

    ``For each fiscal year, the Secretary shall allocate any amounts 
made available for assistance under this title for the fiscal year, in 
accordance with the formula established pursuant to section 817 to the 
Department of Hawaiian Home Lands if the Department complies with the 
requirements under this title for a grant under this title.

``SEC. 817. <<NOTE: 25 USC 4236.>> ALLOCATION FORMULA.

    ``(a) Establishment.--The <<NOTE: Regulations.>> Secretary shall, by 
regulation issued not later than the expiration of the 6-month period 
beginning on the date of the enactment of the American Homeownership and 
Economic Opportunity Act of 2000, in the manner provided under section 
807, establish a formula to provide for the allocation of amounts 
available for a fiscal year for block grants under this title in 
accordance with the requirements of this section.

    ``(b) Factors for Determination of Need.--The formula under 
subsection (a) shall be based on factors that reflect the needs for 
assistance for affordable housing activities, including--
            ``(1) the number of low-income dwelling units owned or 
        operated at the time pursuant to a contract between the Director 
        and the Secretary;
            ``(2) the extent of poverty and economic distress and the 
        number of Native Hawaiian families eligible to reside on the 
        Hawaiian Home Lands; and
            ``(3) any other objectively measurable conditions that the 
        Secretary and the Director may specify.

    ``(c) Other Factors for Consideration.--In establishing the formula 
under subsection (a), the Secretary shall consider the relative 
administrative capacities of the Department of Hawaiian Home Lands and 
other challenges faced by the Department, including--
            ``(1) geographic distribution within Hawaiian Home Lands; 
        and
            ``(2) technical capacity.

[[Page 114 STAT. 2985]]

    ``(d) Effective Date.--This section shall take effect on the date of 
the enactment of the American Homeownership and Economic Opportunity Act 
of 2000.

``SEC. 818. <<NOTE: 25 USC 4237.>> REMEDIES FOR NONCOMPLIANCE.

    ``(a) Actions by Secretary Affecting Grant Amounts.--
            ``(1) In general.--Except as provided in subsection (b), if 
        the Secretary finds after reasonable notice and opportunity for 
        a hearing that the Department of Hawaiian Home Lands has failed 
        to comply substantially with any provision of this title, the 
        Secretary shall--
                    ``(A) terminate payments under this title to the 
                Department;
                    ``(B) reduce payments under this title to the 
                Department by an amount equal to the amount of such 
                payments that were not expended in accordance with this 
                title; or
                    ``(C) limit the availability of payments under this 
                title to programs, projects, or activities not affected 
                by such failure to comply.
            ``(2) Actions.--If the Secretary takes an action under 
        subparagraph (A), (B), or (C) of paragraph (1), the Secretary 
        shall continue that action until the Secretary determines that 
        the failure by the Department to comply with the provision has 
        been remedied by the Department and the Department is in 
        compliance with that provision.

    ``(b) Noncompliance Because of a Technical Incapacity.--The 
Secretary may provide technical assistance for the Department, either 
directly or indirectly, that is designed to increase the capability and 
capacity of the Director of the Department to administer assistance 
provided under this title in compliance with the requirements under this 
title if the Secretary makes a finding under subsection (a), but 
determines that the failure of the Department to comply substantially 
with the provisions of this title--
            ``(1) is not a pattern or practice of activities 
        constituting willful noncompliance; and
            ``(2) is a result of the limited capability or capacity of 
        the Department of Hawaiian Home Lands.

    ``(c) Referral for Civil Action.--
            ``(1) Authority.--In lieu of, or in addition to, any action 
        that the Secretary may take under subsection (a), if the 
        Secretary has reason to believe that the Department of Hawaiian 
        Home Lands has failed to comply substantially with any provision 
        of this title, the Secretary may refer the matter to the 
        Attorney General of the United States with a recommendation that 
        an appropriate civil action be instituted.
            ``(2) Civil action.--Upon receiving a referral under 
        paragraph (1), the Attorney General may bring a civil action in 
        any United States district court of appropriate jurisdiction for 
        such relief as may be appropriate, including an action--
                    ``(A) to recover the amount of the assistance 
                furnished under this title that was not expended in 
                accordance with this title; or
                    ``(B) for mandatory or injunctive relief.

    ``(d) Review.--
            ``(1) In general.--If the Director receives notice under 
        subsection (a) of the termination, reduction, or limitation of 
        payments under this Act, the Director--

[[Page 114 STAT. 2986]]

                    ``(A) may, <<NOTE: Deadline.>> not later than 60 
                days after receiving such notice, file with the United 
                States Court of Appeals for the Ninth Circuit, or in the 
                United States Court of Appeals for the District of 
                Columbia, a petition for review of the action of the 
                Secretary; and
                    ``(B) upon the filing of any petition under 
                subparagraph (A), shall forthwith transmit copies of the 
                petition to the Secretary and the Attorney General of 
                the United States, who shall represent the Secretary in 
                the litigation.
            ``(2) Procedure.--
                    ``(A) In general.--The Secretary shall file in the 
                court a record of the proceeding on which the Secretary 
                based the action, as provided in section 2112 of title 
                28, United States Code.
                    ``(B) Objections.--No objection to the action of the 
                Secretary shall be considered by the court unless the 
                Department has registered the objection before the 
                Secretary.
            ``(3) Disposition.--
                    ``(A) Court proceedings.--
                          ``(i) Jurisdiction of court.--The court shall 
                      have jurisdiction to affirm or modify the action 
                      of the Secretary or to set the action aside in 
                      whole or in part.
                          ``(ii) Findings of fact.--If supported by 
                      substantial evidence on the record considered as a 
                      whole, the findings of fact by the Secretary shall 
                      be conclusive.
                          ``(iii) Addition.--The court may order 
                      evidence, in addition to the evidence submitted 
                      for review under this subsection, to be taken by 
                      the Secretary, and to be made part of the record.
                    ``(B) Secretary.--
                          ``(i) In general.--The Secretary, by reason of 
                      the additional evidence referred to in 
                      subparagraph (A) and filed with the court--
                                    ``(I) may--
                                            ``(aa) modify the findings 
                                        of fact of the Secretary; or
                                            ``(bb) make new findings; 
                                        and
                                    ``(II) shall file--
                                            ``(aa) such modified or new 
                                        findings; and
                                            ``(bb) the recommendation of 
                                        the Secretary, if any, for the 
                                        modification or setting aside of 
                                        the original action of the 
                                        Secretary.
                          ``(ii) Findings.--The findings referred to in 
                      clause (i)(II)(bb) shall, with respect to a 
                      question of fact, be considered to be conclusive 
                      if those findings are--
                                    ``(I) supported by substantial 
                                evidence on the record; and
                                    ``(II) considered as a whole.
            ``(4) Finality.--
                    ``(A) In general.--Except as provided in 
                subparagraph (B), upon the filing of the record under 
                this subsection with the court--
                          ``(i) the jurisdiction of the court shall be 
                      exclusive; and
                          ``(ii) the judgment of the court shall be 
                      final.

[[Page 114 STAT. 2987]]

                    ``(B) Review by supreme court.--A judgment under 
                subparagraph (A) shall be subject to review by the 
                Supreme Court of the United States upon writ of 
                certiorari or certification, as provided in section 1254 
                of title 28, United States Code.

``SEC. 819. <<NOTE: 25 USC 4238.>> MONITORING OF COMPLIANCE.

    ``(a) Enforceable Agreements.--
            ``(1) In general.--The Director, through binding contractual 
        agreements with owners or other authorized entities, shall 
        ensure long-term compliance with the provisions of this title.
            ``(2) Measures.--The measures referred to in paragraph (1) 
        shall provide for--
                    ``(A) to the extent allowable by Federal and State 
                law, the enforcement of the provisions of this title by 
                the Department and the Secretary; and
                    ``(B) remedies for breach of the provisions referred 
                to in paragraph (1).

    ``(b) Periodic Monitoring.--
            ``(1) In general.--Not less frequently than annually, the 
        Director shall review the activities conducted and housing 
        assisted under this title to assess compliance with the 
        requirements of this title.
            ``(2) Review.--Each review under paragraph (1) shall include 
        onsite inspection of housing to determine compliance with 
        applicable requirements.
            ``(3) Results.--The results of each review under paragraph 
        (1) shall be--
                    ``(A) included in a performance report of the 
                Director submitted to the Secretary under section 820; 
                and
                    ``(B) made available to the public.

    ``(c) Performance Measures.--The Secretary shall establish such 
performance measures as may be necessary to assess compliance with the 
requirements of this title.

``SEC. 820. <<NOTE: 25 USC 4239.>> PERFORMANCE REPORTS.

    ``(a) Requirement.--For each fiscal year, the Director shall--
            ``(1) review the progress the Department has made during 
        that fiscal year in carrying out the housing plan submitted by 
        the Department under section 803; and
            ``(2) submit a report to the Secretary (in a form acceptable 
        to the Secretary) describing the conclusions of the review.

    ``(b) Content.--Each report submitted under this section for a 
fiscal year shall--
            ``(1) describe the use of grant amounts provided to the 
        Department of Hawaiian Home Lands for that fiscal year;
            ``(2) assess the relationship of the use referred to in 
        paragraph (1) to the goals identified in the housing plan;
            ``(3) indicate the programmatic accomplishments of the 
        Department; and
            ``(4) describe the manner in which the Department would 
        change its housing plan submitted under section 803 as a result 
        of its experiences.

    ``(c) Submissions.--The Secretary shall--
            ``(1) establish a date for submission of each report under 
        this section;
            ``(2) review each such report; and

[[Page 114 STAT. 2988]]

            ``(3) with respect to each such report, make recommendations 
        as the Secretary considers appropriate to carry out the purposes 
        of this title.

    ``(d) Public Availability.--
            ``(1) Comments by beneficiaries.--In preparing a report 
        under this section, the Director shall make the report publicly 
        available to the beneficiaries of the Hawaiian Homes Commission 
        Act, 1920 (42 Stat. 108 et seq.) and give a sufficient amount of 
        time to permit those beneficiaries to comment on that report 
        before it is submitted to the Secretary (in such manner and at 
        such time as the Director may determine).
            ``(2) Summary of comments.--The report shall include a 
        summary of any comments received by the Director from 
        beneficiaries under paragraph (1) regarding the program to carry 
        out the housing plan.

``SEC. 821. <<NOTE: 25 USC 4240.>> REVIEW AND AUDIT BY SECRETARY.

    ``(a) Annual Review.--
            ``(1) In general.--The Secretary shall, not less frequently 
        than on an annual basis, make such reviews and audits as may be 
        necessary or appropriate to determine whether--
                    ``(A) the Director has--
                          ``(i) carried out eligible activities under 
                      this title in a timely manner;
                          ``(ii) carried out and made certifications in 
                      accordance with the requirements and the primary 
                      objectives of this title and with other applicable 
                      laws; and
                          ``(iii) a continuing capacity to carry out the 
                      eligible activities in a timely manner;
                    ``(B) the Director has complied with the housing 
                plan submitted by the Director under section 803; and
                    ``(C) the performance reports of the Department 
                under section 821 are accurate.
            ``(2) Onsite visits.--Each review conducted under this 
        section shall, to the extent practicable, include onsite visits 
        by employees of the Department of Housing and Urban Development.

    ``(b) Report by <<NOTE: Deadline.>> Secretary.--The Secretary shall 
give the Department of Hawaiian Home Lands not less than 30 days to 
review and comment on a report under this subsection. After taking into 
consideration the comments of the Department, the Secretary may revise 
the report and shall make the comments of the Department and the report 
with any revisions, readily available to the public not later than 30 
days after receipt of the comments of the Department.

    ``(c) Effect of Reviews.--The Secretary may make appropriate 
adjustments in the amount of annual grants under this title in 
accordance with the findings of the Secretary pursuant to reviews and 
audits under this section. The Secretary may adjust, reduce, or withdraw 
grant amounts, or take other action as appropriate in accordance with 
the reviews and audits of the Secretary under this section, except that 
grant amounts already expended on affordable housing activities may not 
be recaptured or deducted from future assistance provided to the 
Department of Hawaiian Home Lands.

[[Page 114 STAT. 2989]]

``SEC. 822. <<NOTE: 25 USC 4241.>> GENERAL ACCOUNTING OFFICE AUDITS.

    ``To the extent that the financial transactions of the Department of 
Hawaiian Home Lands involving grant amounts under this title relate to 
amounts provided under this title, those transactions may be audited by 
the Comptroller General of the United States under such regulations as 
may be prescribed by the Comptroller General. The Comptroller General of 
the United States shall have access to all books, accounts, records, 
reports, files, and other papers, things, or property belonging to or in 
use by the Department of Hawaiian Home Lands pertaining to such 
financial transactions and necessary to facilitate the audit.

``SEC. 823. <<NOTE: 42 USC 4242.>> REPORTS TO CONGRESS.

    ``(a) In General.--Not later than <<NOTE: Deadline.>> 90 days after 
the conclusion of each fiscal year in which assistance under this title 
is made available, the Secretary shall submit to Congress a report that 
contains--
            ``(1) a description of the progress made in accomplishing 
        the objectives of this title;
            ``(2) a summary of the use of funds available under this 
        title during the preceding fiscal year; and
            ``(3) a description of the aggregate outstanding loan 
        guarantees under section 184A of the Housing and Community 
        Development Act of 1992.

    ``(b) Related Reports.--The Secretary may require the Director to 
submit to the Secretary such reports and other information as may be 
necessary in order for the Secretary to prepare the report required 
under subsection (a).

``SEC. 824. <<NOTE: 25 USC 4243.>> AUTHORIZATION OF APPROPRIATIONS.

    ``There are authorized to be appropriated to the Department of 
Housing and Urban Development for grants under this title such sums as 
may be necessary for each of fiscal years 2001, 2002, 2003, 2004, and 
2005.''.

SEC. 514. LOAN GUARANTEES.

    Subtitle E of title I of the Housing and Community Development Act 
of 1992 is amended by inserting after section 184 (12 U.S.C. 1715z-13a) 
the following:

``SEC. 184A. <<NOTE: 12 USC 1715z-13b.>> LOAN GUARANTEES FOR NATIVE 
            HAWAIIAN HOUSING.

    ``(a) Definitions.--In this section:
            ``(1) Department of hawaiian home lands.--The term 
        `Department of Hawaiian Home Lands' means the agency or 
        department of the government of the State of Hawaii that is 
        responsible for the administration of the Hawaiian Homes 
        Commission Act, 1920 (42 Stat. 108 et seq.).
            ``(2) Eligible entity.--The term `eligible entity' means a 
        Native Hawaiian family, the Department of Hawaiian Home Lands, 
        the Office of Hawaiian Affairs, and private nonprofit or private 
        for-profit organizations experienced in the planning and 
        development of affordable housing for Native Hawaiians.
            ``(3) Family.--The term `family' means one or more persons 
        maintaining a household, as the Secretary shall by regulation 
        provide.
            ``(4) Guarantee fund.--The term `Guarantee Fund' means the 
        Native Hawaiian Housing Loan Guarantee Fund established under 
        subsection ( j).

[[Page 114 STAT. 2990]]

            ``(5) Hawaiian home lands.--The term `Hawaiian Home Lands' 
        means lands that--
                    ``(A) have the status of Hawaiian Home Lands under 
                section 204 of the Hawaiian Homes Commission Act (42 
                Stat. 110); or
                    ``(B) are acquired pursuant to that Act.
            ``(6) Native hawaiian.--The term `Native Hawaiian' means any 
        individual who is--
                    ``(A) a citizen of the United States; and
                    ``(B) a descendant of the aboriginal people, who, 
                prior to 1778, occupied and exercised sovereignty in the 
                area that currently constitutes the State of Hawaii, as 
                evidenced by--
                          ``(i) genealogical records;
                          ``(ii) verification by kupuna (elders) or 
                      kama'aina (long-term community residents); or
                          ``(iii) birth records of the State of Hawaii.
            ``(7) Office of hawaiian affairs.--The term `Office of 
        Hawaiian Affairs' means the entity of that name established 
        under the constitution of the State of Hawaii.

    ``(b) Authority.--To provide access to sources of private financing 
to Native Hawaiian families who otherwise could not acquire housing 
financing because of the unique legal status of the Hawaiian Home Lands 
or as a result of a lack of access to private financial markets, the 
Secretary may guarantee an amount not to exceed 100 percent of the 
unpaid principal and interest that is due on an eligible loan under 
subsection (c).
    ``(c) Eligible Loans.--Under this section, a loan is an eligible 
loan if that loan meets the following requirements:
            ``(1) Eligible borrowers.--The loan is made only to a 
        borrower who is--
                    ``(A) a Native Hawaiian family;
                    ``(B) the Department of Hawaiian Home Lands;
                    ``(C) the Office of Hawaiian Affairs; or
                    ``(D) a private nonprofit organization experienced 
                in the planning and development of affordable housing 
                for Native Hawaiians.
            ``(2) Eligible housing.--
                    ``(A) In general.--The loan will be used to 
                construct, acquire, or rehabilitate not more than 4-
                family dwellings that are standard housing and are 
                located on Hawaiian Home Lands for which a housing plan 
                described in subparagraph (B) applies.
                    ``(B) Housing plan.--A housing plan described in 
                this subparagraph is a housing plan that--
                          ``(i) has been submitted and approved by the 
                      Secretary under section 803 of the Native American 
                      Housing Assistance and Self-Determination Act of 
                      1996; and
                          ``(ii) provides for the use of loan guarantees 
                      under this section to provide affordable 
                      homeownership housing on Hawaiian Home Lands.
            ``(3) Security.--The loan may be secured by any collateral 
        authorized under applicable Federal or State law.
            ``(4) Lenders.--

[[Page 114 STAT. 2991]]

                    ``(A) In general.--The loan shall be made only by a 
                lender approved by, and meeting qualifications 
                established by, the Secretary, including any lender 
                described in subparagraph (B), except that a loan 
                otherwise insured or guaranteed by an agency of the 
                Federal Government or made by the Department of Hawaiian 
                Home Lands from amounts borrowed from the United States 
                shall not be eligible for a guarantee under this 
                section.
                    ``(B) Approval.--The following lenders shall be 
                considered to be lenders that have been approved by the 
                Secretary:
                          ``(i) Any mortgagee approved by the Secretary 
                      for participation in the single family mortgage 
                      insurance program under title II of the National 
                      Housing Act (12 U.S.C.A. 1707 et seq.).
                          ``(ii) Any lender that makes housing loans 
                      under chapter 37 of title 38, United States Code, 
                      that are automatically guaranteed under section 
                      3702(d) of title 38, United States Code.
                          ``(iii) Any lender approved by the Secretary 
                      of Agriculture to make guaranteed loans for single 
                      family housing under the Housing Act of 1949 (42 
                      U.S.C.A. 1441 et seq.).
                          ``(iv) Any other lender that is supervised, 
                      approved, regulated, or insured by any agency of 
                      the Federal Government.
            ``(5) Terms.--The loan shall--
                    ``(A) be made for a term not exceeding 30 years;
                    ``(B) bear interest (exclusive of the guarantee fee 
                under subsection (e) and service charges, if any) at a 
                rate agreed upon by the borrower and the lender and 
                determined by the Secretary to be reasonable, but not to 
                exceed the rate generally charged in the area (as 
                determined by the Secretary) for home mortgage loans not 
                guaranteed or insured by any agency or instrumentality 
                of the Federal Government;
                    ``(C) involve a principal obligation not exceeding--
                          ``(i) 97.75 percent of the appraised value of 
                      the property as of the date the loan is accepted 
                      for guarantee (or 98.75 percent if the value of 
                      the property is $50,000 or less); or
                          ``(ii) the amount approved by the Secretary 
                      under this section; and
                    ``(D) involve a payment on account of the property--
                          ``(i) in cash or its equivalent; or
                          ``(ii) through the value of any improvements 
                      to the property made through the skilled or 
                      unskilled labor of the borrower, as the Secretary 
                      shall provide.

    ``(d) Certificate of Guarantee.--
            ``(1) Approval process.--
                    ``(A) In general.--Before the Secretary approves any 
                loan for guarantee under this section, the lender shall 
                submit the application for the loan to the Secretary for 
                examination.
                    ``(B) Approval.--If the Secretary approves the 
                application submitted under subparagraph (A), the 
                Secretary shall

[[Page 114 STAT. 2992]]

                issue a certificate under this subsection as evidence of 
                the loan guarantee approved.
            ``(2) Standard for approval.--The Secretary may approve a 
        loan for guarantee under this section and issue a certificate 
        under this subsection only if the Secretary determines that 
        there is a reasonable prospect of repayment of the loan.
            ``(3) Effect.--
                    ``(A) In general.--A certificate of guarantee issued 
                under this subsection by the Secretary shall be 
                conclusive evidence of the eligibility of the loan for 
                guarantee under this section and the amount of that 
                guarantee.
                    ``(B) Evidence.--The evidence referred to in 
                subparagraph (A) shall be incontestable in the hands of 
                the bearer.
                    ``(C) Full faith and credit.--The full faith and 
                credit of the United States is pledged to the payment of 
                all amounts agreed to be paid by the Secretary as 
                security for the obligations made by the Secretary under 
                this section.
            ``(4) Fraud and misrepresentation.--This subsection may not 
        be construed--
                    ``(A) to preclude the Secretary from establishing 
                defenses against the original lender based on fraud or 
                material misrepresentation; or
                    ``(B) to bar the Secretary from establishing by 
                regulations that are on the date of issuance or 
                disbursement, whichever is earlier, partial defenses to 
                the amount payable on the guarantee.

    ``(e) Guarantee Fee.--
            ``(1) In general.--The Secretary shall fix and collect a 
        guarantee fee for the guarantee of a loan under this section, 
        which may not exceed the amount equal to 1 percent of the 
        principal obligation of the loan.
            ``(2) Payment.--The fee under this subsection shall--
                    ``(A) be paid by the lender at time of issuance of 
                the guarantee; and
                    ``(B) be adequate, in the determination of the 
                Secretary, to cover expenses and probable losses.
            ``(3) Deposit.--The Secretary shall deposit any fees 
        collected under this subsection in the Native Hawaiian Housing 
        Loan Guarantee Fund established under subsection ( j).

    ``(f ) Liability Under Guarantee.--The liability under a guarantee 
provided under this section shall decrease or increase on a pro rata 
basis according to any decrease or increase in the amount of the unpaid 
obligation under the provisions of the loan agreement involved.
    ``(g) Transfer and Assumption.--Notwithstanding any other provision 
of law, any loan guaranteed under this section, including the security 
given for the loan, may be sold or assigned by the lender to any 
financial institution subject to examination and supervision by an 
agency of the Federal Government or of any State or the District of 
Columbia.
    ``(h) Disqualification of Lenders and Civil Money Penalties.--
            ``(1) In general.--
                    ``(A) Grounds for action.--The Secretary may take 
                action under subparagraph (B) if the Secretary 
                determines

[[Page 114 STAT. 2993]]

                that any lender or holder of a guarantee certificate 
                under subsection (d)--
                          ``(i) has failed--
                                    ``(I) to maintain adequate 
                                accounting records;
                                    ``(II) to service adequately loans 
                                guaranteed under this section; or
                                    ``(III) to exercise proper credit or 
                                underwriting judgment; or
                          ``(ii) has engaged in practices otherwise 
                      detrimental to the interest of a borrower or the 
                      United States.
                    ``(B) Actions.--Upon a determination by the 
                Secretary that a holder of a guarantee certificate under 
                subsection (d) has failed to carry out an activity 
                described in subparagraph (A)(i) or has engaged in 
                practices described in subparagraph (A)(ii), the 
                Secretary may--
                          ``(i) refuse, either temporarily or 
                      permanently, to guarantee any further loans made 
                      by such lender or holder;
                          ``(ii) bar such lender or holder from 
                      acquiring additional loans guaranteed under this 
                      section; and
                          ``(iii) require that such lender or holder 
                      assume not less than 10 percent of any loss on 
                      further loans made or held by the lender or holder 
                      that are guaranteed under this section.
            ``(2) Civil money penalties for intentional violations.--
                    ``(A) In general.--The Secretary may impose a civil 
                monetary penalty on a lender or holder of a guarantee 
                certificate under subsection (d) if the Secretary 
                determines that the holder or lender has intentionally 
                failed--
                          ``(i) to maintain adequate accounting records;
                          ``(ii) to adequately service loans guaranteed 
                      under this section; or
                          ``(iii) to exercise proper credit or 
                      underwriting judgment.
                    ``(B) Penalties.--A civil monetary penalty imposed 
                under this paragraph shall be imposed in the manner and 
                be in an amount provided under section 536 of the 
                National Housing Act (12 U.S.C.A. 1735f-1) with respect 
                to mortgagees and lenders under that Act.
            ``(3) Payment on loans made in good faith.--Notwithstanding 
        paragraphs (1) and (2), if a loan was made in good faith, the 
        Secretary may not refuse to pay a lender or holder of a valid 
        guarantee on that loan, without regard to whether the lender or 
        holder is barred under this subsection.

    ``(i) Payment Under Guarantee.--
            ``(1) Lender options.--
                    ``(A) In general.--
                          ``(i) Notification.--If a borrower on a loan 
                      guaranteed under this section defaults on the 
                      loan, the holder of the guarantee certificate 
                      shall provide written notice of the default to the 
                      Secretary.
                          ``(ii) Payment.--Upon providing the notice 
                      required under clause (i), the holder of the 
                      guarantee certificate

[[Page 114 STAT. 2994]]

                      shall be entitled to payment under the guarantee 
                      (subject to the provisions of this section) and 
                      may proceed to obtain payment in one of the 
                      following manners:
                                    ``(I) Foreclosure.--
                                            ``(aa) In general.--The 
                                        holder of the certificate may 
                                        initiate foreclosure proceedings 
                                        (after providing written notice 
                                        of that action to the 
                                        Secretary).
                                            ``(bb) Payment.--Upon a 
                                        final order by the court 
                                        authorizing foreclosure and 
                                        submission to the Secretary of a 
                                        claim for payment under the 
                                        guarantee, the Secretary shall 
                                        pay to the holder of the 
                                        certificate the pro rata portion 
                                        of the amount guaranteed (as 
                                        determined pursuant to 
                                        subsection (f )) plus reasonable 
                                        fees and expenses as approved by 
                                        the Secretary.
                                            ``(cc) Subrogation.--The 
                                        rights of the Secretary shall be 
                                        subrogated to the rights of the 
                                        holder of the guarantee. The 
                                        holder shall assign the 
                                        obligation and security to the 
                                        Secretary.
                                    ``(II) No foreclosure.--
                                            ``(aa) In general.--Without 
                                        seeking foreclosure (or in any 
                                        case in which a foreclosure 
                                        proceeding initiated under 
                                        clause (i) continues for a 
                                        period in excess of 1 year), the 
                                        holder of the guarantee may 
                                        submit to the Secretary a 
                                        request to assign the obligation 
                                        and security interest to the 
                                        Secretary in return for payment 
                                        of the claim under the 
                                        guarantee. The Secretary may 
                                        accept assignment of the loan if 
                                        the Secretary determines that 
                                        the assignment is in the best 
                                        interest of the United States.
                                            ``(bb) Payment.--Upon 
                                        assignment, the Secretary shall 
                                        pay to the holder of the 
                                        guarantee the pro rata portion 
                                        of the amount guaranteed (as 
                                        determined under subsection (f 
                                        )).
                                            ``(cc) Subrogation.--The 
                                        rights of the Secretary shall be 
                                        subrogated to the rights of the 
                                        holder of the guarantee. The 
                                        holder shall assign the 
                                        obligation and security to the 
                                        Secretary.
                    ``(B) Requirements.--Before any payment under a 
                guarantee is made under subparagraph (A), the holder of 
                the guarantee shall exhaust all reasonable possibilities 
                of collection. Upon payment, in whole or in part, to the 
                holder, the note or judgment evidencing the debt shall 
                be assigned to the United States and the holder shall 
                have no further claim against the borrower or the United 
                States. The Secretary shall then take such action to 
                collect as the Secretary determines to be appropriate.
            ``(2) Limitations on liquidation.--
                    ``(A) In general.--If a borrower defaults on a loan 
                guaranteed under this section that involves a security 
                interest in restricted Hawaiian Home Land property, the

[[Page 114 STAT. 2995]]

                mortgagee or the Secretary shall only pursue liquidation 
                after offering to transfer the account to another 
                eligible Hawaiian family or the Department of Hawaiian 
                Home Lands.
                    ``(B) Limitation.--If, after action is taken under 
                subparagraph (A), the mortgagee or the Secretary 
                subsequently proceeds to liquidate the account, the 
                mortgagee or the Secretary shall not sell, transfer, or 
                otherwise dispose of or alienate the property described 
                in subparagraph (A) except to another eligible Hawaiian 
                family or to the Department of Hawaiian Home Lands.

    ``( j) Hawaiian Housing Loan Guarantee Fund.--
            ``(1) Establishment.--There is established in the Treasury 
        of the United States the Hawaiian Housing Loan Guarantee Fund 
        for the purpose of providing loan guarantees under this section.
            ``(2) Credits.--The Guarantee Fund shall be credited with--
                    ``(A) any amount, claims, notes, mortgages, 
                contracts, and property acquired by the Secretary under 
                this section, and any collections and proceeds 
                therefrom;
                    ``(B) any amounts appropriated pursuant to paragraph 
                (7);
                    ``(C) any guarantee fees collected under subsection 
                (e); and
                    ``(D) any interest or earnings on amounts invested 
                under paragraph (4).
            ``(3) Use.--Amounts in the Guarantee Fund shall be 
        available, to the extent provided in appropriations Acts, for--
                    ``(A) fulfilling any obligations of the Secretary 
                with respect to loans guaranteed under this section, 
                including the costs (as that term is defined in section 
                502 of the Federal Credit Reform Act of 1990 (2 U.S.C. 
                661a)) of such loans;
                    ``(B) paying taxes, insurance, prior liens, expenses 
                necessary to make fiscal adjustment in connection with 
                the application and transmittal of collections, and 
                other expenses and advances to protect the Secretary for 
                loans which are guaranteed under this section or held by 
                the Secretary;
                    ``(C) acquiring such security property at 
                foreclosure sales or otherwise;
                    ``(D) paying administrative expenses in connection 
                with this section; and
                    ``(E) reasonable and necessary costs of 
                rehabilitation and repair to properties that the 
                Secretary holds or owns pursuant to this section.
            ``(4) Investment.--Any amounts in the Guarantee Fund 
        determined by the Secretary to be in excess of amounts currently 
        required at the time of the determination to carry out this 
        section may be invested in obligations of the United States.
            ``(5) Limitation on commitments to guarantee loans and 
        mortgages.--
                    ``(A) Requirement of appropriations.--The authority 
                of the Secretary to enter into commitments to guarantee 
                loans under this section shall be effective for any 
                fiscal year to the extent, or in such amounts as are, or 
                have

[[Page 114 STAT. 2996]]

                been, provided in appropriations Acts, without regard to 
                the fiscal year for which such amounts were 
                appropriated.
                    ``(B) Limitations on costs of guarantees.--The 
                authority of the Secretary to enter into commitments to 
                guarantee loans under this section shall be effective 
                for any fiscal year only to the extent that amounts in 
                the Guarantee Fund are or have been made available in 
                appropriations Acts to cover the costs (as that term is 
                defined in section 502 of the Federal Credit Reform Act 
                of 1990 (2 U.S.C. 661a)) of such loan guarantees for 
                such fiscal year. Any amounts appropriated pursuant to 
                this subparagraph shall remain available until expended.
                    ``(C) Limitation on outstanding aggregate principal 
                amount.--Subject to the limitations in subparagraphs (A) 
                and (B), the Secretary may enter into commitments to 
                guarantee loans under this section for each of fiscal 
                years 2001, 2002, 2003, 2004, and 2005 with an aggregate 
                outstanding principal amount not exceeding $100,000,000 
                for each such fiscal year.
            ``(6) Liabilities.--All liabilities and obligations of the 
        assets credited to the Guarantee Fund under paragraph (2)(A) 
        shall be liabilities and obligations of the Guarantee Fund.
            ``(7) Authorization of appropriations.--There are authorized 
        to be appropriated to the Guarantee Fund to carry out this 
        section such sums as may be necessary for each of fiscal years 
        2001, 2002, 2003, 2004, and 2005.

    ``(k) Requirements for Standard Housing.--
            ``(1) In general.--The <<NOTE: Regulations.>> Secretary 
        shall, by regulation, establish housing safety and quality 
        standards to be applied for use under this section.
            ``(2) Standards.--The standards referred to in paragraph (1) 
        shall--
                    ``(A) provide sufficient flexibility to permit the 
                use of various designs and materials in housing acquired 
                with loans guaranteed under this section; and
                    ``(B) require each dwelling unit in any housing 
                acquired in the manner described in subparagraph (A) 
                to--
                          ``(i) be decent, safe, sanitary, and modest in 
                      size and design;
                          ``(ii) conform with applicable general 
                      construction standards for the region in which the 
                      housing is located;
                          ``(iii) contain a plumbing system that--
                                    ``(I) uses a properly installed 
                                system of piping;
                                    ``(II) includes a kitchen sink and a 
                                partitional bathroom with lavatory, 
                                toilet, and bath or shower; and
                                    ``(III) uses water supply, plumbing, 
                                and sewage disposal systems that conform 
                                to any minimum standards established by 
                                the applicable county or State;
                          ``(iv) contain an electrical system using 
                      wiring and equipment properly installed to safely 
                      supply electrical energy for adequate lighting and 
                      for operation of appliances that conforms to any 
                      appropriate county, State, or national code;

[[Page 114 STAT. 2997]]

                          ``(v) be not less than the size provided under 
                      the applicable locally adopted standards for size 
                      of dwelling units, except that the Secretary, upon 
                      request of the Department of Hawaiian Home Lands 
                      may waive the size requirements under this 
                      paragraph; and
                          ``(vi) conform with the energy performance 
                      requirements for new construction established by 
                      the Secretary under section 526(a) of the National 
                      Housing Act (12 U.S.C.A. 1735f-4), unless the 
                      Secretary determines that the requirements are not 
                      applicable.

    ``(l) Applicability of Civil Rights Statutes.--To the extent that 
the requirements of title VI of the Civil Rights Act of 1964 (42 U.S.C. 
2000d et seq.) or of the Fair Housing Act (42 U.S.C.A. 3601 et seq.) 
apply to a guarantee provided under this subsection, nothing in the 
requirements concerning discrimination on the basis of race shall be 
construed to prevent the provision of the guarantee to an eligible 
entity on the basis that the entity serves Native Hawaiian families or 
is a Native Hawaiian family.''.

 TITLE VI--MANUFACTURED <<NOTE: Manufactured Housing Improvement Act of 
2000.>> HOUSING IMPROVEMENT

SEC. 601. <<NOTE: 42 USC 5401 note.>> SHORT TITLE; REFERENCES.

    (a) Short Title.--This title may be cited as the ``Manufactured 
Housing Improvement Act of 2000''.
    (b) References.--Whenever in this title an amendment is expressed in 
terms of an amendment to, or repeal of, a section or other provision, 
the reference shall be considered to be made to that section or other 
provision of the National Manufactured Housing Construction and Safety 
Standards Act of 1974 (42 U.S.C. 5401 et seq.).

SEC. 602. FINDINGS AND PURPOSES.

    Section 602 (42 U.S.C. 5401) is amended to read as follows:

``SEC. 602. FINDINGS AND PURPOSES.

    ``(a) Findings.--Congress finds that--
            ``(1) manufactured housing plays a vital role in meeting the 
        housing needs of the Nation; and
            ``(2) manufactured homes provide a significant resource for 
        affordable homeownership and rental housing accessible to all 
        Americans.

    ``(b) Purposes.--The purposes of this title are--
            ``(1) to protect the quality, durability, safety, and 
        affordability of manufactured homes;
            ``(2) to facilitate the availability of affordable 
        manufactured homes and to increase homeownership for all 
        Americans;
            ``(3) to provide for the establishment of practical, 
        uniform, and, to the extent possible, performance-based Federal 
        construction standards for manufactured homes;
            ``(4) to encourage innovative and cost-effective 
        construction techniques for manufactured homes;
            ``(5) to protect residents of manufactured homes with 
        respect to personal injuries and the amount of insurance costs 
        and property damages in manufactured housing, consistent with 
        the other purposes of this section;

[[Page 114 STAT. 2998]]

            ``(6) to establish a balanced consensus process for the 
        development, revision, and interpretation of Federal 
        construction and safety standards for manufactured homes and 
        related regulations for the enforcement of such standards;
            ``(7) to ensure uniform and effective enforcement of Federal 
        construction and safety standards for manufactured homes; and
            ``(8) to ensure that the public interest in, and need for, 
        affordable manufactured housing is duly considered in all 
        determinations relating to the Federal standards and their 
        enforcement.''.

SEC. 603. DEFINITIONS.

    (a) In General.--Section 603 (42 U.S.C. 5402) is amended--
            (1) in paragraph (2), by striking ``dealer'' and inserting 
        ``retailer'';
            (2) in paragraph (12), by striking ``and'' at the end;
            (3) in paragraph (13), by striking the period at the end and 
        inserting a semicolon; and
            (4) by adding at the end the following:
            ``(14) `administering organization' means the recognized, 
        voluntary, private sector, consensus standards body with 
        specific experience in developing model residential building 
        codes and standards involving all disciplines regarding 
        construction and safety that administers the consensus standards 
        through a development process;
            ``(15) `consensus committee' means the committee established 
        under section 604(a)(3);
            ``(16) `consensus standards development process' means the 
        process by which additions, revisions, and interpretations to 
        the Federal manufactured home construction and safety standards 
        and enforcement regulations shall be developed and recommended 
        to the Secretary by the consensus committee;
            ``(17) `primary inspection agency' means a State agency or 
        private organization that has been approved by the Secretary to 
        act as a design approval primary inspection agency or a 
        production inspection primary inspection agency, or both;
            ``(18) `design approval primary inspection agency' means a 
        State agency or private organization that has been approved by 
        the Secretary to evaluate and either approve or disapprove 
        manufactured home designs and quality control procedures;
            ``(19) `installation standards' means reasonable 
        specifications for the installation of a manufactured home, at 
        the place of occupancy, to ensure proper siting, the joining of 
        all sections of the home, and the installation of stabilization, 
        support, or anchoring systems;
            ``(20) `monitoring' means the process of periodic review of 
        the primary inspection agencies, by the Secretary or by a State 
        agency under an approved State plan pursuant to section 623, in 
        accordance with regulations promulgated under this title, giving 
        due consideration to the recommendations of the consensus 
        committee under section 604(b), which process shall be for the 
        purpose of ensuring that the primary inspection agencies are 
        discharging their duties under this title; and
            ``(21) `production inspection primary inspection agency' 
        means a State agency or private organization that has been

[[Page 114 STAT. 2999]]

        approved by the Secretary to evaluate the ability of 
        manufactured home manufacturing plants to comply with approved 
        quality control procedures and with the Federal manufactured 
        home construction and safety standards promulgated hereunder, 
        including the inspection of homes in the plant.''.

    (b) Conforming Amendments.--The National Manufactured Housing 
Construction and Safety Standards Act of 1974 (42 U.S.C. 5401 et seq.) 
is amended--
            (1) in section 613 (42 U.S.C. 5412), by striking ``dealer'' 
        each place it appears and inserting ``retailer'';
            (2) in section 614(f ) (42 U.S.C. 5413(f )), by striking 
        ``dealer'' each place it appears and inserting ``retailer'';
            (3) in section 615 (42 U.S.C. 5414)--
                    (A) in subsection (b)(1), by striking ``dealer'' and 
                inserting ``retailer'';
                    (B) in subsection (b)(3), by striking ``dealer or 
                dealers'' and inserting ``retailer or retailers''; and
                    (C) in subsections (d) and (f ), by striking 
                ``dealers'' each place it appears and inserting 
                ``retailers'';
            (4) in section 616 (42 U.S.C. 5415), by striking ``dealer'' 
        and inserting ``retailer''; and
            (5) in <<NOTE: 42 USC 5422.>> section 623(c)(9), by striking 
        ``dealers'' and inserting ``retailers''.

SEC. 604. FEDERAL MANUFACTURED HOME CONSTRUCTION AND SAFETY STANDARDS.

    Section 604 (42 U.S.C. 5403) is amended--
            (1) by striking subsections (a) and (b) and inserting the 
        following:

    ``(a) Establishment.--
            ``(1) Authority.--The Secretary shall establish, by order, 
        appropriate Federal manufactured home construction and safety 
        standards, each of which--
                    ``(A) shall--
                          ``(i) be reasonable and practical;
                          ``(ii) meet high standards of protection 
                      consistent with the purposes of this title; and
                          ``(iii) be performance-based and objectively 
                      stated, unless clearly inappropriate; and
                    ``(B) except as provided in subsection (b), shall be 
                established in accordance with the consensus standards 
                development process.
            ``(2) Consensus standards and regulatory development 
        process.--
                    ``(A) Initial agreement.--Not later 
                than <<NOTE: Deadline.>> 180 days after the date of the 
                enactment of the Manufactured Housing Improvement Act of 
                2000, the Secretary shall enter into a contract with an 
                administering organization. The contractual agreement 
                shall--
                          ``(i) terminate on the date on which a 
                      contract is entered into under subparagraph (B); 
                      and
                          ``(ii) require the administering organization 
                      to--
                                    ``(I) recommend the initial members 
                                of the consensus committee under 
                                paragraph (3);
                                    ``(II) administer the consensus 
                                standards development process until the 
                                termination of that agreement; and

[[Page 114 STAT. 3000]]

                                    ``(III) administer the consensus 
                                development and interpretation process 
                                for procedural and enforcement 
                                regulations and regulations specifying 
                                the permissible scope and conduct of 
                                monitoring until the termination of that 
                                agreement.
                    ``(B) Competitively procured contract.--Upon the 
                expiration of the 4-year period beginning on the date on 
                which all members of the consensus committee are 
                appointed under paragraph (3), the Secretary shall, 
                using competitive procedures (as such term is defined in 
                section 4 of the Office of Federal Procurement Policy 
                Act), enter into a competitively awarded contract with 
                an administering organization. The administering 
                organization shall administer the consensus process for 
                the development and interpretation of the Federal 
                standards, the procedural and enforcement regulations, 
                and regulations specifying the permissible scope and 
                conduct of monitoring, in accordance with this title.
                    ``(C) Performance review.--The Secretary--
                          ``(i) shall periodically review the 
                      performance of the administering organization; and
                          ``(ii) may replace the administering 
                      organization with another qualified technical or 
                      building code organization, pursuant to 
                      competitive procedures, if the Secretary 
                      determines in writing that the administering 
                      organization is not fulfilling the terms of the 
                      agreement or contract to which the administering 
                      organization is subject or upon the expiration of 
                      the agreement or contract.
            ``(3) Consensus committee.--
                    ``(A) Purpose.--There is established a committee to 
                be known as the `consensus committee', which shall, in 
                accordance with this title--
                          ``(i) provide periodic recommendations to the 
                      Secretary to adopt, revise, and interpret the 
                      Federal manufactured housing construction and 
                      safety standards in accordance with this 
                      subsection;
                          ``(ii) provide periodic recommendations to the 
                      Secretary to adopt, revise, and interpret the 
                      procedural and enforcement regulations, including 
                      regulations specifying the permissible scope and 
                      conduct of monitoring in accordance with 
                      subsection (b);
                          ``(iii) be organized and carry out its 
                      business in a manner that guarantees a fair 
                      opportunity for the expression and consideration 
                      of various positions and for public participation; 
                      and
                          ``(iv) be deemed to be an advisory committee 
                      not composed of Federal employees.
                    ``(B) Membership.--The consensus committee shall be 
                composed of--
                          ``(i) twenty-one voting members appointed by 
                      the Secretary, after consideration of the 
                      recommendations of the administering organization, 
                      from among individuals who are qualified by 
                      background and experience to participate in the 
                      work of the consensus committee; and

[[Page 114 STAT. 3001]]

                          ``(ii) one nonvoting member appointed by the 
                      Secretary to represent the Secretary on the 
                      consensus committee.
                    ``(C) Disapproval.--The Secretary shall state, in 
                writing, the reasons for failing to appoint any 
                individual recommended under paragraph (2)(A)(ii)(I).
                    ``(D) Selection procedures and requirements.--Each 
                member of the consensus committee shall be appointed in 
                accordance with selection procedures, which shall be 
                based on the procedures for consensus committees 
                promulgated by the American National Standards Institute 
                (or successor organization), except that the American 
                National Standards Institute interest categories shall 
                be modified for purposes of this paragraph to ensure 
                equal representation on the consensus committee of the 
                following interest categories:
                          ``(i) Producers.--Seven producers or retailers 
                      of manufactured housing.
                          ``(ii) Users.--Seven persons representing 
                      consumer interests, such as consumer 
                      organizations, recognized consumer leaders, and 
                      owners who are residents of manufactured homes.
                          ``(iii) General interest and public 
                      officials.--Seven general interest and public 
                      official members.
                    ``(E) Balancing of interests.--
                          ``(i) In general.--In order to achieve a 
                      proper balance of interests on the consensus 
                      committee, the Secretary, in appointing the 
                      members of the consensus committee--
                                    ``(I) shall ensure that all directly 
                                and materially affected interests have 
                                the opportunity for fair and equitable 
                                participation without dominance by any 
                                single interest; and
                                    ``(II) may reject the appointment of 
                                any one or more individuals in order to 
                                ensure that there is not dominance by 
                                any single interest.
                          ``(ii) Dominance defined.--In this 
                      subparagraph, the term `dominance' means a 
                      position or exercise of dominant authority, 
                      leadership, or influence by reason of superior 
                      leverage, strength, or representation.
                    ``(F) Additional qualifications.--
                          ``(i) Financial independence.--No individual 
                      appointed under subparagraph (D)(ii) shall have, 
                      and three of the individuals appointed under 
                      subparagraph (D)(iii) shall not have--
                                    ``(I) a significant financial 
                                interest in any segment of the 
                                manufactured housing industry; or
                                    ``(II) a significant relationship to 
                                any person engaged in the manufactured 
                                housing industry.
                          ``(ii) Post-employment ban.--Each individual 
                      described in clause (i) shall be subject to a ban 
                      disallowing compensation from the manufactured 
                      housing industry during the period of, and during 
                      the 1-year following, the membership of the 
                      individual on the consensus committee.
                    ``(G) Meetings.--

[[Page 114 STAT. 3002]]

                          ``(i) Notice; open to public.--The consensus 
                      committee shall provide advance notice of each 
                      meeting of the consensus committee to the 
                      Secretary and cause to be published in the Federal 
                      Register advance notice of each such meeting. All 
                      meetings of the consensus committee shall be open 
                      to the public.
                          ``(ii) Reimbursement.--Members of the 
                      consensus committee in attendance at meetings of 
                      the consensus committee shall be reimbursed for 
                      their actual expenses as authorized by section 
                      5703 of title 5, United States Code, for persons 
                      employed intermittently in Government service.
                    ``(H) Administration.--The consensus committee and 
                the administering organization shall--
                          ``(i) operate in conformance with the 
                      procedures established by the American National 
                      Standards Institute for the development and 
                      coordination of American National Standards; and
                          ``(ii) apply to the American National 
                      Standards Institute and take such other actions as 
                      may be necessary to obtain accreditation from the 
                      American National Standards Institute.
                    ``(I) Staff and technical support.--The 
                administering organization shall, upon the request of 
                the consensus committee--
                          ``(i) provide reasonable staff resources to 
                      the consensus committee; and
                          ``(ii) furnish technical support in a timely 
                      manner to any of the interest categories described 
                      in subparagraph (D) represented on the consensus 
                      committee, if--
                                    ``(I) the support is necessary to 
                                ensure the informed participation of the 
                                consensus committee members; and
                                    ``(II) the costs of providing the 
                                support are reasonable.
                    ``(J) Date of 
                initial <<NOTE: Deadline.>> appointments.--The initial 
                appointments of all the members of the consensus 
                committee shall be completed not later than 90 days 
                after the date on which a contractual agreement under 
                paragraph (2)(A) is entered into with the administering 
                organization.
            ``(4) Revisions of standards.--
                    ``(A) In general.--Beginning on the date on which 
                all members of the consensus committee are appointed 
                under paragraph (3), the consensus committee shall, not 
                less than once during each 2-year period--
                          ``(i) consider revisions to the Federal 
                      manufactured home construction and safety 
                      standards; and
                          ``(ii) submit proposed revised standards, if 
                      approved in a vote of the consensus committee by 
                      two-thirds of the members, to the Secretary in the 
                      form of a proposed rule, including an economic 
                      analysis.
                    ``(B) Publication of proposed revised standards.--
                          ``(i) Publication by <<NOTE: Federal Register, 
                      publication. Deadline.>> the secretary.--The 
                      consensus committee shall provide a proposed 
                      revised

[[Page 114 STAT. 3003]]

                      standard under subparagraph (A)(ii) to the 
                      Secretary who shall, not later than 30 days after 
                      receipt, cause such proposed revised standard to 
                      be published in the Federal Register for notice 
                      and comment in accordance with section 553 of 
                      title 5, United States Code. Unless clause (ii) 
                      applies, the Secretary shall provide an 
                      opportunity for public comment on such proposed 
                      revised standard in accordance with such section 
                      553 and any such comments shall be submitted 
                      directly to the consensus committee, without 
                      delay.
                          ``(ii) Publication of <<NOTE: Federal 
                      Register, publication.>> rejected proposed revised 
                      standards.--If the Secretary rejects the proposed 
                      revised standard, the Secretary shall cause to be 
                      published in the Federal Register the rejected 
                      proposed revised standard, the reasons for 
                      rejection, and any recommended modifications set 
                      forth.
                    ``(C) Presentation of public comments; publication 
                of recommended revisions.--
                          ``(i) Presentation.--Any public comments, 
                      views, and objections to a proposed revised 
                      standard published under subparagraph (B) shall be 
                      presented by the Secretary to the consensus 
                      committee upon their receipt and in the manner 
                      received, in accordance with procedures 
                      established by the American National Standards 
                      Institute.
                          ``(ii) Publication by 
                      the <<NOTE: Deadline.>> secretary.--The consensus 
                      committee shall provide to the Secretary any 
                      revision proposed by the consensus committee, 
                      which the Secretary shall, not later than 30 
                      calendar days after receipt, cause to be published 
                      in the Federal Register a notice of the 
                      recommended revisions of the consensus committee 
                      to the standards, a notice of the submission of 
                      the recommended revisions to the Secretary, and a 
                      description of the circumstances under which the 
                      proposed revised standards could become effective.
                          ``(iii) Publication of <<NOTE: Federal 
                      Register, publication.>> rejected proposed revised 
                      standards.--If the Secretary rejects the proposed 
                      revised standard, the Secretary shall cause to be 
                      published in the Federal Register the rejected 
                      proposed revised standard, the reasons for 
                      rejection, and any recommended modifications set 
                      forth.
            ``(5) Review by the secretary.--
                    ``(A) In general.--The Secretary shall either adopt, 
                modify, or reject a standard, as submitted by the 
                consensus committee under paragraph (4)(A).
                    ``(B) Timing.--Not later than <<NOTE: Deadline.>> 12 
                months after the date on which a standard is submitted 
                to the Secretary by the consensus committee, the 
                Secretary shall take action regarding such standard 
                under subparagraph (C).
                    ``(C) Procedures.--If the Secretary--
                          ``(i) adopts a standard recommended by the 
                      consensus committee, the Secretary shall--
                                    ``(I) issue a final order without 
                                further rulemaking; and
                                    ``(II) cause the final order to 
                                be <<NOTE: Federal Register, 
                                publication.>> published in the Federal 
                                Register;

[[Page 114 STAT. 3004]]

                          ``(ii) determines that any standard should be 
                      rejected, the Secretary shall--
                                    ``(I) reject the standard; and
                                    ``(II) cause to be <<NOTE: Federal 
                                Register, publication.>> published in 
                                the Federal Register a notice to that 
                                effect, together with the reason or 
                                reasons for rejecting the proposed 
                                standard; or
                          ``(iii) determines that a standard recommended 
                      by the consensus committee should be modified, the 
                      Secretary shall--
                                    ``(I) cause to be <<NOTE: Federal 
                                Register, publication.>> published in 
                                the Federal Register the proposed 
                                modified standard, together with an 
                                explanation of the reason or reasons for 
                                the determination of the Secretary; and
                                    ``(II) provide an opportunity for 
                                public comment in accordance with 
                                section 553 of title 5, United States 
                                Code.
                    ``(D) Final order.--Any final standard under this 
                paragraph shall become effective pursuant to subsection 
                (c).
            ``(6) Failure to act.--If the Secretary fails to take final 
        action under paragraph (5) and to cause notice of the action to 
        be published in the Federal Register before the expiration of 
        the 12-month period beginning on the date on which the proposed 
        revised standard is submitted to the Secretary under paragraph 
        (4)(A)--
                    ``(A) the <<NOTE: Deadline.>> Secretary shall appear 
                in person before the appropriate housing and 
                appropriations subcommittees and committees of the House 
                of Representatives and the Senate (referred to in this 
                paragraph as the `committees') on a date or dates to be 
                specified by the committees, but in no event later than 
                30 days after the expiration of that 12-month period, 
                and shall state before the committees the reasons for 
                failing to take final action as required under paragraph 
                (5); and
                    ``(B) if the Secretary does not appear in person as 
                required under subparagraph (A), the Secretary shall 
                thereafter, and until such time as the Secretary does 
                appear as required under subparagraph (A), be prohibited 
                from expending any funds collected under authority of 
                this title in an amount greater than that collected and 
                expended in the fiscal year immediately preceding the 
                date of the enactment of the Manufactured Housing 
                Improvement Act of 2000, indexed for inflation as 
                determined by the Congressional Budget Office.

    ``(b) Other Orders.--
            ``(1) Regulations.--The Secretary may issue procedural and 
        enforcement regulations and revisions to existing regulations as 
        necessary to implement the provisions of this title. The 
        consensus committee may submit to the Secretary proposed 
        procedural and enforcement regulations and recommendations for 
        the revision of such regulations.
            ``(2) Interpretative bulletins.--The Secretary may issue 
        interpretative bulletins to clarify the meaning of any Federal 
        manufactured home construction and safety standard or procedural 
        and enforcement regulation. The consensus committee may submit 
        to the Secretary proposed interpretative bulletins

[[Page 114 STAT. 3005]]

        to clarify the meaning of any Federal manufactured home 
        construction and safety standard or procedural and enforcement 
        regulation.
            ``(3) Review by consensus committee.--Before issuing a 
        procedural or enforcement regulation or an interpretative 
        bulletin--
                    ``(A) the Secretary shall--
                          ``(i) submit the proposed procedural or 
                      enforcement regulation or interpretative bulletin 
                      to the consensus committee; and
                          ``(ii) provide the consensus committee with a 
                      period of 120 days to submit written comments to 
                      the Secretary on the proposed procedural or 
                      enforcement regulation or the interpretative 
                      bulletin; and
                    ``(B) if the Secretary rejects any significant 
                comment provided by the consensus committee under 
                subparagraph (A), the Secretary shall provide a written 
                explanation of the reasons for the rejection to the 
                consensus committee; and
                    ``(C) following compliance with subparagraphs (A) 
                and (B), the Secretary shall--
                          ``(i) cause the <<NOTE: Federal Register, 
                      publication.>> proposed regulation or 
                      interpretative bulletin and the consensus 
                      committee's written comments, along with the 
                      Secretary's response thereto, to be published in 
                      the Federal Register; and
                          ``(ii) provide an opportunity for public 
                      comment in accordance with section 553 of title 5, 
                      United States Code.
            ``(4) Required action.--Not later 
        than <<NOTE: Deadline.>> 120 days after the date on which the 
        Secretary receives a proposed regulation or interpretative 
        bulletin submitted by the consensus committee, the Secretary 
        shall--
                    ``(A) approve the proposal and cause the proposed 
                regulation or interpretative bulletin to be published 
                for public comment in accordance with section 553 of 
                title 5, United States Code; or
                    ``(B) reject the proposed regulation or 
                interpretative bulletin and--
                          ``(i) provide to the consensus committee a 
                      written explanation of the reasons for rejection; 
                      and
                          ``(ii) cause to be <<NOTE: Federal Register, 
                      publication.>> published in the Federal Register 
                      the rejected proposed regulation or interpretive 
                      bulletin, the reasons for rejection, and any 
                      recommended modifications set forth.
            ``(5) Authority to act and emergency.--If the Secretary 
        determines, in writing, that such action is necessary to address 
        an issue on which the Secretary determines that the consensus 
        committee has not made a timely recommendation following a 
        request by the Secretary, or in order to respond to an emergency 
        that jeopardizes the public health or safety, the Secretary may 
        issue an order that is not developed under the procedures set 
        forth in subsection (a) or in this subsection, if the 
        Secretary--
                    ``(A) provides to the consensus committee a written 
                description and sets forth the reasons why action is 
                necessary and all supporting documentation; and

[[Page 114 STAT. 3006]]

                    ``(B) issues the <<NOTE: Federal Register, 
                publication.>> order after notice and an opportunity for 
                public comment in accordance with section 553 of title 
                5, United States Code, and causes the order to be 
                published in the Federal Register.
            ``(6) Changes.--Any statement of policies, practices, or 
        procedures relating to construction and safety standards, 
        regulations, inspections, monitoring, or other enforcement 
        activities that constitutes a statement of general or particular 
        applicability to implement, interpret, or prescribe law or 
        policy by the Secretary is subject to subsection (a) or this 
        subsection. Any change adopted in violation of subsection (a) or 
        this subsection is void.
            ``(7) Transition.--Until the date on which the consensus 
        committee is appointed pursuant to section 604(a)(3), the 
        Secretary may issue proposed orders, pursuant to notice and 
        comment in accordance with section 553 of title 5, United States 
        Code, that are not developed under the procedures set forth in 
        this section for new and revised standards.'';
            (2) in subsection (d), by adding at the end the following: 
        ``Federal preemption under this subsection shall be broadly and 
        liberally construed to ensure that disparate State or local 
        requirements or standards do not affect the uniformity and 
        comprehensiveness of the standards promulgated under this 
        section nor the Federal superintendence of the manufactured 
        housing industry as established by this title. Subject to 
        section 605, there is reserved to each State the right to 
        establish standards for the stabilizing and support systems of 
        manufactured homes sited within that State, and for the 
        foundations on which manufactured homes sited within that State 
        are installed, and the right to enforce compliance with such 
        standards, except that such standards shall be consistent with 
        the purposes of this title and shall be consistent with the 
        design of the manufacturer.'';
            (3) by striking subsection (e);
            (4) in subsection (f ), by striking the subsection 
        designation and all of the matter that precedes paragraph (1) 
        and inserting the following:

    ``(e) Considerations in Establishing and Interpreting Standards and 
Regulations.--The consensus committee, in recommending standards, 
regulations, and interpretations, and the Secretary, in establishing 
standards or regulations or issuing interpretations under this section, 
shall--'';
            (5) by striking subsection (g);
            (6) in the first sentence of subsection ( j), by striking 
        ``subsection (f )'' and inserting ``subsection (e)''; and
            (7) by redesignating subsections (h), (i), and ( j), as 
        subsections (f ), (g), and (h), respectively.

SEC. 605. ABOLISHMENT OF NATIONAL MANUFACTURED HOME ADVISORY COUNCIL; 
            MANUFACTURED HOME INSTALLATION.

    (a) In General.--Section 605 (42 U.S.C. 5404) is amended to read as 
follows:

``SEC. 605. MANUFACTURED HOME INSTALLATION.

    ``(a) Provision of Installation Design and Instructions.--A 
manufacturer shall provide with each manufactured home, design and 
instructions for the installation of the manufactured home

[[Page 114 STAT. 3007]]

that have been approved by a design approval primary inspection agency. 
After establishment of model standards under subsection (b)(2), a design 
approval primary inspection agency may not give such approval unless a 
design and instruction provides equal or greater protection than the 
protection provided under such model standards.
    ``(b) Model Manufactured Home Installation Standards.--
            ``(1) Proposed <<NOTE: Deadline.>> model standards.--Not 
        later than 18 months after the date on which the initial 
        appointments of all the members of the consensus committee are 
        completed, the consensus committee shall develop and submit to 
        the Secretary proposed model manufactured home installation 
        standards, which shall, to the maximum extent practicable, 
        taking into account the factors described in section 604(e), be 
        consistent with--
                    ``(A) the manufactured home designs that have been 
                approved by a design approval primary inspection agency; 
                and
                    ``(B) the designs and instructions for the 
                installation of manufactured homes provided by 
                manufacturers under subsection (a).
            ``(2) Establishment of model standards.--Not later than 12 
        months after receiving the proposed model standards submitted 
        under paragraph (1), the Secretary shall develop and establish 
        model manufactured home installation standards, which shall, to 
        the maximum extent practicable, taking into account the factors 
        described in section 604(e), be consistent with--
                    ``(A) the manufactured home designs that have been 
                approved by a design approval primary inspection agency; 
                and
                    ``(B) the designs and instructions for the 
                installation of manufactured homes provided by 
                manufacturers under subsection (a).
            ``(3) Factors for consideration.--
                    ``(A) Consensus committee.--In developing the 
                proposed model standards under paragraph (1), the 
                consensus committee shall consider the factors described 
                in section 604(e).
                    ``(B) Secretary.--In developing and establishing the 
                model standards under paragraph (2), the Secretary shall 
                consider the factors described in section 604(e).
            ``(4) Issuance.--The model manufactured home installation 
        standards shall be issued after notice and an opportunity for 
        public comment in accordance with section 553 of title 5, United 
        States Code.

    ``(c) Manufactured Home Installation Programs.--
            ``(1) Protection of manufactured housing residents during 
        initial period.--During the 5-year period beginning on the date 
        of the enactment of the Manufactured Housing Improvement Act of 
        2000, no State or manufacturer may establish or implement any 
        installation standards that, in the determination of the 
        Secretary, provide less protection to the residents of 
        manufactured homes than the protection provided by the 
        installation standards in effect with respect to the State or 
        manufacturer, as applicable, on the date of the enactment of the 
        Manufactured Housing Improvement Act of 2000.

[[Page 114 STAT. 3008]]

            ``(2) Installation standards.--
                    ``(A) Establishment of installation program.--Not 
                later than the expiration of the 5-year period described 
                in paragraph (1), the Secretary shall establish an 
                installation program that meets the requirements of 
                paragraph (3) for the enforcement of installation 
                standards in each State described in subparagraph (B) of 
                this paragraph.
                    ``(B) Implementation of installation program.--
                Beginning on the expiration of the 5-year period 
                described in paragraph (1), the Secretary shall 
                implement the installation program established under 
                subparagraph (A) in each State that does not have an 
                installation program established by State law that meets 
                the requirements of paragraph (3).
                    ``(C) Contracting out of implementation.--In 
                carrying out subparagraph (B), the Secretary may 
                contract with an appropriate agent to implement the 
                installation program established under that 
                subparagraph, except that such agent shall not be a 
                person or entity other than a government, nor an 
                affiliate or subsidiary of such a person or entity, that 
                has entered into a contract with the Secretary to 
                implement any other regulatory program under this title.
            ``(3) Requirements.--An installation program meets the 
        requirements of this paragraph if it is a program regulating the 
        installation of manufactured homes that includes--
                    ``(A) installation standards that, in the 
                determination of the Secretary, provide protection to 
                the residents of manufactured homes that equals or 
                exceeds the protection provided to those residents by--
                          ``(i) the model manufactured home installation 
                      standards established by the Secretary under 
                      subsection (b)(2); or
                          ``(ii) the designs and instructions provided 
                      by manufacturers under subsection (a), if the 
                      Secretary determines that such designs and 
                      instructions provide protection to the residents 
                      of manufactured homes that equals or exceeds the 
                      protection provided by the model manufactured home 
                      installation standards established by the 
                      Secretary under subsection (b)(2);
                    ``(B) the training and licensing of manufactured 
                home installers; and
                    ``(C) inspection of the installation of manufactured 
                homes.''.

    (b) Conforming Amendments.--Section 623(c) (42 U.S.C. 5422(c)) is 
amended--
            (1) in paragraph (10), by striking ``and'' at the end;
            (2) by redesignating paragraph (11) as paragraph (13); and
            (3) by inserting after paragraph (10) the following:
            ``(11) with respect to any State plan submitted on or after 
        the expiration of the 5-year period beginning on the date of the 
        enactment of the Manufactured Housing Improvement Act of 2000, 
        provides for an installation program established by State law 
        that meets the requirements of section 605(c)(3);''.

[[Page 114 STAT. 3009]]

SEC. 606. PUBLIC INFORMATION.

    Section 607 (42 U.S.C. 5406) is amended--
            (1) in subsection (a)--
                    (A) by inserting ``to the Secretary'' after 
                ``submit''; and
                    (B) by adding at the end the following: ``The 
                Secretary shall submit such cost and other information 
                to the consensus committee for evaluation.'';
            (2) in subsection (d), by inserting ``, the consensus 
        committee,'' after ``public''; and
            (3) by striking subsection (c) and redesignating subsections 
        (d) and (e) as subsections (c) and (d), respectively.

SEC. 607. RESEARCH, TESTING, DEVELOPMENT, AND TRAINING.

    (a) In General.--Section 608(a) (42 U.S.C. 5407(a)) is amended--
            (1) in paragraph (2), by striking ``and'' at the end;
            (2) in paragraph (3), by striking the period at the end and 
        inserting a semicolon; and
            (3) by adding at the end the following:
            ``(4) encouraging the government-sponsored housing entities 
        to actively develop and implement secondary market 
        securitization programs for the FHA manufactured home loans and 
        those of other loan programs, as appropriate, thereby promoting 
        the availability of affordable manufactured homes to increase 
        homeownership for all people in the United States; and
            ``(5) reviewing the programs for FHA manufactured home loans 
        and developing any changes to such programs to promote the 
        affordability of manufactured homes, including changes in loan 
        terms, amortization periods, regulations, and procedures.''.

    (b) Definitions.--Section 608 (42 U.S.C. 5407) is amended by adding 
at the end the following:
    ``(c) Definitions.--For purposes of this section, the following 
definitions shall apply:
            ``(1) Government-sponsored housing entities.--The term 
        `government-sponsored housing entities' means the Government 
        National Mortgage Association of the Department of Housing and 
        Urban Development, the Federal National Mortgage Association, 
        and the Federal Home Loan Mortgage Corporation.
            ``(2) FHA manufactured home loan.--The term `FHA 
        manufactured home loan' means a loan that--
                    ``(A) is insured under title I of the National 
                Housing Act and is made for the purpose of financing 
                alterations, repairs, or improvements on or in 
                connection with an existing manufactured home, the 
                purchase of a manufactured home, the purchase of a 
                manufactured home and a lot on which to place the home, 
                or the purchase only of a lot on which to place a 
                manufactured home; or
                    ``(B) is otherwise insured under the National 
                Housing Act and made for or in connection with a 
                manufactured home.''.

SEC. 608. PROHIBITED ACTS.

    Section 610(a) (42 U.S.C. 5409(a)) is amended--
            (1) in paragraph (5), by striking ``or'' at the end;

[[Page 114 STAT. 3010]]

            (2) in paragraph (6), by striking the period at the end and 
        inserting ``; or''; and
            (3) by adding at the end the following new paragraph:
            ``(7) after the expiration of the period specified in 
        section 605(c)(2)(B), fail to comply with the requirements for 
        the installation program required by section 605 in any State 
        that has not adopted and implemented a State installation 
        program.''.

SEC. 609. FEES.

    Section 620 (42 U.S.C. 5419) is amended to read as follows:

``SEC. 620. AUTHORITY TO COLLECT FEE.

    ``(a) In General.--In carrying out inspections under this title, in 
developing standards and regulations pursuant to section 604, and in 
facilitating the acceptance of the affordability and availability of 
manufactured housing within the Department, the Secretary may--
            ``(1) establish and collect from manufactured home 
        manufacturers a reasonable fee, as may be necessary to offset 
        the expenses incurred by the Secretary in connection with 
        carrying out the responsibilities of the Secretary under this 
        title, including--
                    ``(A) conducting inspections and monitoring;
                    ``(B) providing funding to States for the 
                administration and implementation of approved State 
                plans under section 623, including reasonable funding 
                for cooperative educational and training programs 
                designed to facilitate uniform enforcement under this 
                title, which funds may be paid directly to the States or 
                may be paid or provided to any person or entity 
                designated to receive and disburse such funds by 
                cooperative agreements among participating States, 
                provided that such person or entity is not otherwise an 
                agent of the Secretary under this title;
                    ``(C) providing the funding for a noncareer 
                administrator within the Department to administer the 
                manufactured housing program;
                    ``(D) providing the funding for salaries and 
                expenses of employees of the Department to carry out the 
                manufactured housing program;
                    ``(E) administering the consensus committee as set 
                forth in section 604;
                    ``(F) facilitating the acceptance of the quality, 
                durability, safety, and affordability of manufactured 
                housing within the Department; and
                    ``(G) the administration and enforcement of the 
                installation standards authorized by section 605 in 
                States in which the Secretary is required to implement 
                an installation program after the expiration of the 5-
                year period set forth in section 605(c)(2)(B), and the 
                administration and enforcement of a dispute resolution 
                program described in section 623(c)(12) in States in 
                which the Secretary is required to implement such a 
                program after the expiration of the 5-year period set 
                forth in section 623(g)(2); and
            ``(2) subject to subsection (e), use amounts from any fee 
        collected under paragraph (1) of this subsection to pay expenses

[[Page 114 STAT. 3011]]

        referred to in that paragraph, which shall be exempt and 
        separate from any limitations on the Department regarding full-
        time equivalent positions and travel.

    ``(b) Contractors.--In using amounts from any fee collected under 
this section, the Secretary shall ensure that separate and independent 
contractors are retained to carry out monitoring and inspection work and 
any other work that may be delegated to a contractor under this title.
    ``(c) Prohibited Use.--No amount from any fee collected under this 
section may be used for any purpose or activity not specifically 
authorized by this title, unless such activity was already engaged in by 
the Secretary prior to the date of the enactment of the Manufactured 
Housing Improvement Act of 2000.
    ``(d) Modification.--Beginning on the <<NOTE: Effective date.>> date 
of the enactment of the Manufactured Housing Improvement Act of 2000, 
the amount of any fee collected under this section may only be 
modified--
            ``(1) as specifically authorized in advance in an annual 
        appropriations Act; and
            ``(2) pursuant to rulemaking in accordance with section 553 
        of title 5, United States Code.

    ``(e) Appropriation and Deposit of Fees.--
            ``(1) In general.--There is established in the Treasury of 
        the United States a fund to be known as the `Manufactured 
        Housing Fees Trust Fund' for deposit of amounts from any fee 
        collected under this section. Such amounts shall be held in 
        trust for use only as provided in this title.
            ``(2) Appropriation.--Amounts from any fee collected under 
        this section shall be available for expenditure only to the 
        extent approved in advance in an annual appropriations Act. Any 
        change in the expenditure of such amounts shall be specifically 
        authorized in advance in an annual appropriations Act.
            ``(3) Payments to states.--On and after the effective date 
        of the Manufactured Housing Improvement Act of 2000, the 
        Secretary shall continue to fund the States having approved 
        State plans in the amounts which are not less than the allocated 
        amounts, based on the fee distribution system in effect on the 
        day before such effective date.''.

SEC. 610. DISPUTE RESOLUTION.

    Section 623(c) (42 U.S.C. 5422(c)) is amended--
            (1) by inserting after paragraph (11) (as added by the 
        preceding provisions of this title) the following:
            ``(12) with respect to any State plan submitted on or after 
        the expiration of the 5-year period beginning on the date of the 
        enactment of the Manufactured Housing Improvement Act of 2000, 
        provides for a dispute resolution program for the timely 
        resolution of disputes between manufacturers, retailers, and 
        installers of manufactured homes regarding responsibility, and 
        for the issuance of appropriate orders, for the correction or 
        repair of defects in manufactured homes that are reported during 
        the 1-year period beginning on the date of installation; and''; 
        and
            (2) by adding at the end the following:

    ``(g) Enforcement of Dispute Resolution Standards.--
            ``(1) Establishment of dispute resolution program.--
        Not <<NOTE: Deadline.>> later than the expiration of the 5-year 
        period beginning on the date of the enactment of the 
        Manufactured Housing

[[Page 114 STAT. 3012]]

        Improvement Act of 2000, the Secretary shall establish a dispute 
        resolution program that meets the requirements of subsection 
        (c)(12) for dispute resolution in each State described in 
        paragraph (2) of this subsection. The order establishing the 
        dispute resolution program shall be issued after notice and 
        opportunity for public comment in accordance with section 553 of 
        title 5, United States Code.
            ``(2) Implementation of <<NOTE: Effective date.>> dispute 
        resolution program.--Beginning on the expiration of the 5-year 
        period described in paragraph (1), the Secretary shall implement 
        the dispute resolution program established under paragraph (1) 
        in each State that has not established a dispute resolution 
        program that meets the requirements of subsection (c)(12).
            ``(3) Contracting out of implementation.--In carrying out 
        paragraph (2), the Secretary may contract with an appropriate 
        agent to implement the dispute resolution program established 
        under paragraph (2), except that such agent shall not be a 
        person or entity other than a government, nor an affiliate or 
        subsidiary of such a person or entity, that has entered into a 
        contract with the Secretary to implement any other regulatory 
        program under this title.''.

SEC. 611. ELIMINATION OF ANNUAL REPORTING REQUIREMENT.

    The National Manufactured Housing Construction and Safety Standards 
Act of 1974 (42 U.S.C. 5401 et seq.) is amended--
            (1) by striking section 626 (42 U.S.C. 5425); and
            (2) by redesignating sections 627 and 628 (42 U.S.C. 5426, 
        5401 note) as sections 626 and 627, respectively.

SEC. 612. <<NOTE: 42 USC 5401 note.>> EFFECTIVE DATE.

    The amendments made by this title shall take effect on the date of 
the enactment of this Act, except that the amendments shall have no 
effect on any order or interpretative bulletin that is issued under the 
National Manufactured Housing Construction and Safety Standards Act of 
1974 (42 U.S.C. 5401 et seq.) and published as a proposed rule pursuant 
to section 553 of title 5, United States Code, on or before that date of 
the enactment.

SEC. 613. <<NOTE: 42 USC 5401 note.>> SAVINGS PROVISIONS.

    (a) Standards and <<NOTE: Applicability.>> Regulations.--The Federal 
manufactured home construction and safety standards (as such term is 
defined in section 603 of the National Manufactured Housing Construction 
and Safety Standards Act of 1974) and all regulations pertaining thereto 
in effect on the day before the date of the enactment of this Act shall 
apply until the effective date of a standard or regulation modifying or 
superseding the existing standard or regulation that is promulgated 
under subsection (a) or (b) of section 604 of the National Manufactured 
Housing Construction and Safety Standards Act of 1974, as amended by 
this title.

    (b) Contracts.--Any contract awarded pursuant to a Request for 
Proposal issued before the date of the enactment of this Act shall 
remain in effect until the earlier of--
            (1) the expiration of the 2-year period beginning on the 
        date of the enactment of this Act; or
            (2) the expiration of the contract term.

[[Page 114 STAT. 3013]]

                 TITLE VII--RURAL HOUSING HOMEOWNERSHIP

SEC. 701. GUARANTEES FOR REFINANCING OF RURAL HOUSING LOANS.

    Section 502(h) of the Housing Act of 1949 (42 U.S.C. 1472(h)) is 
amended by adding at the end the following new paragraph:
            ``(13) Guarantees for refinancing loans.--
                    ``(A) In General.--Upon the request of the borrower, 
                the Secretary shall, to the extent provided in 
                appropriation Acts and subject to subparagraph (F), 
                guarantee a loan that is made to refinance an existing 
                loan that is made under this section or guaranteed under 
                this subsection, and that the Secretary determines 
                complies with the requirements of this paragraph.
                    ``(B) Interest rate.--To be eligible for a guarantee 
                under this paragraph, the refinancing loan shall have a 
                rate of interest that is fixed over the term of the loan 
                and does not exceed the interest rate of the loan being 
                refinanced.
                    ``(C) Security.--To be eligible for a guarantee 
                under this paragraph, the refinancing loan shall be 
                secured by the same single-family residence as was the 
                loan being refinanced, which shall be owned by the 
                borrower and occupied by the borrower as the principal 
                residence of the borrower.
                    ``(D) Amount.--To be eligible for a guarantee under 
                this paragraph, the principal obligation under the 
                refinancing loan shall not exceed an amount equal to the 
                sum of the balance of the loan being refinanced and such 
                closing costs as may be authorized by the Secretary, 
                which shall include a discount not exceeding 200 basis 
                points and an origination fee not exceeding such amount 
                as the Secretary shall prescribe.
                    ``(E) Other <<NOTE: Applicability.>> requirements.--
                The provisions of the last sentence of paragraph (1) and 
                paragraphs (2), (5), (6)(A), (7), and (9) shall apply to 
                loans guaranteed under this paragraph, and no other 
                provisions of paragraphs (1) through (12) shall apply to 
                such loans.
                    ``(F) Authority to establish limitation.--The 
                Secretary may establish limitations on the number of 
                loans guaranteed under this paragraph, which shall be 
                based on market conditions and other factors as the 
                Secretary considers appropriate.''.

SEC. 702. PROMISSORY NOTE REQUIREMENT UNDER HOUSING REPAIR LOAN PROGRAM.

    The fourth sentence of section 504(a) of the Housing Act of 1949 (42 
U.S.C. 1474(a)) is amended by striking ``$2,500'' and inserting 
``$7,500''.

SEC. 703. LIMITED PARTNERSHIP ELIGIBILITY FOR FARM LABOR HOUSING LOANS.

    The first sentence of section 514(a) of the Housing Act of 1949 (42 
U.S.C. 1484(a)) is amended by striking ``nonprofit limited partnership'' 
and inserting ``limited partnership''.

[[Page 114 STAT. 3014]]

SEC. 704. PROJECT ACCOUNTING RECORDS AND PRACTICES.

    Section 515 of the Housing Act of 1949 (42 U.S.C. 1485) is amended 
by striking subsection (z) and inserting the following new subsections:
    ``(z) Accounting and Recordkeeping Requirements.--
            ``(1) Accounting standards.--The Secretary shall require 
        that borrowers in programs authorized by this section maintain 
        accounting records in accordance with generally accepted 
        accounting principles for all projects that receive funds from 
        loans made or guaranteed by the Secretary under this section.
            ``(2) Record retention requirements.--The Secretary shall 
        require that borrowers in programs authorized by this section 
        retain for a period of not less than 6 years and make available 
        to the Secretary in a manner determined by the Secretary, all 
        records required to be maintained under this subsection and 
        other records identified by the Secretary in applicable 
        regulations.

    ``(aa) Double Damages for Unauthorized Use of Housing Projects 
Assets and Income.--
            ``(1) Action to recover assets or income.--
                    ``(A) In general.--The Secretary may request the 
                Attorney General to bring an action in a United States 
                district court to recover any assets or income used by 
                any person in violation of the provisions of a loan made 
                or guaranteed by the Secretary under this section or in 
                violation of any applicable statute or regulation.
                    ``(B) Improper documentation.--For purposes of this 
                subsection, a use of assets or income in violation of 
                the applicable loan, loan guarantee, statute, or 
                regulation shall include any use for which the 
                documentation in the books and accounts does not 
                establish that the use was made for a reasonable 
                operating expense or necessary repair of the project or 
                for which the documentation has not been maintained in 
                accordance with the requirements of the Secretary and in 
                reasonable condition for proper audit.
                    ``(C) Definition.--For the purposes of this 
                subsection, the term `person' means--
                          ``(i) any individual or entity that borrows 
                      funds in accordance with programs authorized by 
                      this section;
                          ``(ii) any individual or entity holding 25 
                      percent or more interest of any entity that 
                      borrows funds in accordance with programs 
                      authorized by this section; and
                          ``(iii) any officer, director, or partner of 
                      an entity that borrows funds in accordance with 
                      programs authorized by this section.
            ``(2) Amount recoverable.--
                    ``(A) In general.--In any judgment favorable to the 
                United States entered under this subsection, the 
                Attorney General may recover double the value of the 
                assets and income of the project that the court 
                determines to have been used in violation of the 
                provisions of a loan made or guaranteed by the Secretary 
                under this section or any applicable statute or 
                regulation, plus all costs related to the action, 
                including reasonable attorney and auditing fees.
                    ``(B) Application of recovered funds.--
                Notwithstanding any other provision of law, the 
                Secretary may

[[Page 114 STAT. 3015]]

                use amounts recovered under this subsection for 
                activities authorized under this section and such funds 
                shall remain available for such use until expended.
            ``(3) Time limitation.--Notwithstanding any other provision 
        of law, an action under this subsection may be commenced at any 
        time during the 6-year period beginning on the date that the 
        Secretary discovered or should have discovered the violation of 
        the provisions of this section or any related statutes or 
        regulations.
            ``(4) Continued availability of other remedies.--The remedy 
        provided in this subsection is in addition to and not in 
        substitution of any other remedies available to the Secretary or 
        the United States.''.

SEC. 705. DEFINITION OF RURAL AREA.

    The second sentence of section 520 of the Housing Act of 1949 (42 
U.S.C. 1490) is amended--
            (1) by striking ``1990 decennial census'' and inserting 
        ``1990 or 2000 decennial census''; and
            (2) by striking ``year 2000'' and inserting ``year 2010''.

SEC. 706. OPERATING ASSISTANCE FOR MIGRANT FARMWORKERS PROJECTS.

    The last sentence of section 521(a)(5)(A) of the Housing Act of 1949 
(42 U.S.C. 1490a(a)(5)(A)) is amended by striking ``project'' and 
inserting ``tenant or unit''.

SEC. 707. MULTIFAMILY RENTAL HOUSING LOAN GUARANTEE PROGRAM.

    Section 538 of the Housing Act of 1949 (42 U.S.C. 1490p-2) is 
amended--
            (1) in subsection (c), by inserting ``an Indian tribe,'' 
        after ``thereof,'';
            (2) in subsection (f ), by striking paragraph (1) and 
        inserting the following new paragraph:
            ``(1) be made for a period of not less than 25 nor greater 
        than 40 years from the date the loan was made and may provide 
        for amortization of the loan over a period of not to exceed 40 
        years with a final payment of the balance due at the end of the 
        loan term;'';
            (3) in subsection (i)(2), by striking ``(A) conveyance to 
        the Secretary'' and all that follows through ``(C) assignment'' 
        and inserting ``(A) submission to the Secretary of a claim for 
        payment under the guarantee, and (B) assignment'';
            (4) in subsection (s), by adding at the end the following 
        new subsection:
            ``(4) Indian tribe.--The term `Indian tribe' means--
                    ``(A) any Indian tribe, band, nation, or other 
                organized group or community of Indians, including any 
                Alaska Native village or regional or village 
                corporation, as defined by or established pursuant to 
                the Alaska Native Claims Settlement Act (43 U.S.C. 1601 
                et seq.), that is recognized as eligible for the special 
                programs and services provided by the United States to 
                Indians because of their status as Indians pursuant to 
                the Indian Self-Determination and Education Assistance 
                Act of 1975 (25 U.S.C. 450 et seq.); or

[[Page 114 STAT. 3016]]

                    ``(B) any entity established by the governing body 
                of an Indian tribe described in subparagraph (A) for the 
                purpose of financing economic development.'';
            (5) in subsection (t), by inserting before the period at the 
        end the following: ``to provide guarantees under this section 
        for eligible loans having an aggregate principal amount of 
        $500,000,000'';
            (6) by striking subsection (l);
            (7) by redesignating subsections (m) through (u) as 
        subsections (l) through (t), respectively; and
            (8) by adding at the end the following new subsections:

    ``(u) Fee Authority.--Any amounts collected by the Secretary 
pursuant to the fees charged to lenders for loan guarantees issued under 
this section shall be used to offset costs (as defined by section 502 of 
the Congressional Budget Act of 1974 (2 U.S.C. 661a)) of loan guarantees 
made under this section.
    ``(v) Defaults of Loans Secured by Reservation Lands.--In the event 
of a default involving a loan to an Indian tribe or tribal corporation 
made under this section which is secured by an interest in land within 
such tribe's reservation (as determined by the Secretary of the 
Interior), including a community in Alaska incorporated by the Secretary 
of the Interior pursuant to the Indian Reorganization Act (25 U.S.C. 461 
et seq.), the lender shall only pursue liquidation after offering to 
transfer the account to an eligible tribal member, the tribe, or the 
Indian housing authority serving the tribe. If the lender subsequently 
proceeds to liquidate the account, the lender shall not sell, transfer, 
or otherwise dispose of or alienate the property except to one of the 
entities described in the preceding sentence.''.

SEC. 708. ENFORCEMENT PROVISIONS.

    (a) In General.--Title V of the Housing Act of 1949 (42 U.S.C. 1471 
et seq.) is amended by adding after section 542 the following:

``SEC. 543. <<NOTE: 42 USC 14905.>> ENFORCEMENT PROVISIONS.

    ``(a) Equity Skimming.--
            ``(1) Criminal penalty.--Whoever, as an owner, agent, 
        employee, or manager, or is otherwise in custody, control, or 
        possession of property that is security for a loan made or 
        guaranteed under this title, willfully uses, or authorizes the 
        use, of any part of the rents, assets, proceeds, income, or 
        other funds derived from such property, for any purpose other 
        than to meet actual, reasonable, and necessary expenses of the 
        property, or for any other purpose not authorized by this title 
        or the regulations adopted pursuant to this title, shall be 
        fined under title 18, United States Code, or imprisoned not more 
        than 5 years, or both.
            ``(2) Civil sanctions.--An entity or individual who as an 
        owner, operator, employee, or manager, or who acts as an agent 
        for a property that is security for a loan made or guaranteed 
        under this title where any part of the rents, assets, proceeds, 
        income, or other funds derived from such property are used for 
        any purpose other than to meet actual, reasonable, and necessary 
        expenses of the property, or for any other purpose not 
        authorized by this title or the regulations adopted pursuant to 
        this title, shall be subject to a fine of not more than $25,000 
        per violation. The sanctions provided in this paragraph may

[[Page 114 STAT. 3017]]

        be imposed in addition to any other civil sanctions or civil 
        monetary penalties authorized by law.

    ``(b) Civil Monetary Penalties.--
            ``(1) In general.--The Secretary may, after notice and 
        opportunity for a hearing, impose a civil monetary penalty in 
        accordance with this subsection against any individual or 
        entity, including its owners, officers, directors, general 
        partners, limited partners, or employees, who knowingly and 
        materially violate, or participate in the violation of, the 
        provisions of this title, the regulations issued by the 
        Secretary pursuant to this title, or agreements made in 
        accordance with this title, by--
                    ``(A) submitting information to the Secretary that 
                is false;
                    ``(B) providing the Secretary with false 
                certifications;
                    ``(C) failing to submit information requested by the 
                Secretary in a timely manner;
                    ``(D) failing to maintain the property subject to 
                loans made or guaranteed under this title in good repair 
                and condition, as determined by the Secretary;
                    ``(E) failing to provide management for a project 
                which received a loan made or guaranteed under this 
                title that is acceptable to the Secretary; or
                    ``(F) failing to comply with the provisions of 
                applicable civil rights statutes and regulations.
            ``(2) Conditions for renewal or extension.--The Secretary 
        may require that expiring loan or assistance agreements entered 
        into under this title shall not be renewed or extended unless 
        the owner executes an agreement to comply with additional 
        conditions prescribed by the Secretary, or executes a new loan 
        or assistance agreement in the form prescribed by the Secretary.
            ``(3) Amount.--
                    ``(A) In general.--The amount of a civil monetary 
                penalty imposed under this subsection shall not exceed 
                the greater of--
                          ``(i) twice the damages the Department of 
                      Agriculture, the guaranteed lender, or the project 
                      that is secured for a loan under this section 
                      suffered or would have suffered as a result of the 
                      violation; or
                          ``(ii) $50,000 per violation.
                    ``(B) Determination.--In determining the amount of a 
                civil monetary penalty under this subsection, the 
                Secretary shall take into consideration--
                          ``(i) the gravity of the offense;
                          ``(ii) any history of prior offenses by the 
                      violator (including offenses occurring prior to 
                      the enactment of this section);
                          ``(iii) the ability of the violator to pay the 
                      penalty;
                          ``(iv) any injury to tenants;
                          ``(v) any injury to the public;
                          ``(vi) any benefits received by the violator 
                      as a result of the violation;
                          ``(vii) deterrence of future violations; and
                          ``(viii) such other factors as the Secretary 
                      may establish by regulation.

[[Page 114 STAT. 3018]]

            ``(4) Payment of penalties.--No payment of a penalty 
        assessed under this section may be made from funds provided 
        under this title or from funds of a project which serve as 
        security for a loan made or guaranteed under this title.
            ``(5) Remedies for noncompliance.--
                    ``(A) Judicial intervention.--If a person or entity 
                fails to comply with a final determination by the 
                Secretary imposing a civil monetary penalty under this 
                subsection, the Secretary may request the Attorney 
                General of the United States to bring an action in an 
                appropriate United States district court to obtain a 
                monetary judgment against such individual or entity and 
                such other relief as may be available. The monetary 
                judgment may, in the court's discretion, include the 
                attorney's fees and other expenses incurred by the 
                United States in connection with the action.
                    ``(B) Reviewability of determination.--In an action 
                under this paragraph, the validity and appropriateness 
                of a determination by the Secretary imposing the penalty 
                shall not be subject to review.''.

    (b) Conforming Amendment.--Section 514 of the Housing Act of 1949 
(42 U.S.C. 1484) is amended by striking subsection ( j).

SEC. 709. AMENDMENTS TO TITLE 18 OF UNITED STATES CODE.

    (a) Money Laundering.--Section 1956(c)(7)(D) of title 18, United 
States Code, is amended by inserting ``any violation of section 
543(a)(1) of the Housing Act of 1949 (relating to equity skimming),'' 
after ``coupons having a value of not less than $5,000,''.
    (b) Obstruction of Federal Audits.--Section 1516(a) of title 18, 
United States Code, is amended by inserting ``or relating to any 
property that is security for a loan that is made or guaranteed under 
title V of the Housing Act of 1949,'' before ``shall be fined under this 
title''.

TITLE VIII--HOUSING <<NOTE: Affordable Housing for Seniors and Families 
Act.>> FOR ELDERLY AND DISABLED FAMILIES

SEC. 801. <<NOTE: 12 USC 1701 note.>> SHORT TITLE.

    This title may be cited as the ``Affordable Housing for Seniors and 
Families Act''.

SEC. 802. <<NOTE: 12 USC 1701 note.>> REGULATIONS.

    The Secretary of Housing and Urban Development (referred to in this 
title as the ``Secretary'') shall issue any regulations to carry out 
this title and the amendments made by this title that the Secretary 
determines may or will affect tenants of federally assisted housing only 
after notice and opportunity for public comment in accordance with the 
procedure under section 553 of title 5, United States Code, applicable 
to substantive rules (notwithstanding subsections (a)(2), (b)(B), and 
(d)(3) of such <<NOTE: Federal Register, publication.>> section). Notice 
of such proposed rulemaking shall be provided by publication in the 
Federal Register. In issuing such regulations, the Secretary shall take 
such actions as may be necessary to ensure that such tenants are 
notified of, and provided an opportunity to participate in, the 
rulemaking, as required by such section 553.

[[Page 114 STAT. 3019]]

SEC. 803. <<NOTE: 12 USC 1701q note.>> EFFECTIVE DATE.

    (a) In General.--The provisions of this title and the amendments 
made by this title are effective as of the date of the enactment of this 
Act, unless such provisions or amendments specifically provide for 
effectiveness or applicability upon another date certain.
    (b) Effect of Regulatory Authority.--Any authority in this title or 
the amendments made by this title to issue regulations, and any specific 
requirement to issue regulations by a date certain, may not be construed 
to affect the effectiveness or applicability of the provisions of this 
title or the amendments made by this title under such provisions and 
amendments and subsection (a) of this section.

   Subtitle A--Refinancing for Section 202 Supportive Housing for the 
                                 Elderly

SEC. 811. <<NOTE: 12 USC 1701q note.>> PREPAYMENT AND REFINANCING.

    (a) Approval of Prepayment of Debt.--Upon request of the project 
sponsor of a project assisted with a loan under section 202 of the 
Housing Act of 1959 (as in effect before the enactment of the Cranston-
Gonzalez National Affordable Housing Act), the Secretary shall approve 
the prepayment of any indebtedness to the Secretary relating to any 
remaining principal and interest under the loan as part of a prepayment 
plan under which--
            (1) the project sponsor agrees to operate the project until 
        the maturity date of the original loan under terms at least as 
        advantageous to existing and future tenants as the terms 
        required by the original loan agreement or any rental assistance 
        payments contract under section 8 of the United States Housing 
        Act of 1937 (or any other rental housing assistance programs of 
        the Department of Housing and Urban Development, including the 
        rent supplement program under section 101 of the Housing and 
        Urban Development Act of 1965 (12 U.S.C. 1701s)) relating to the 
        project; and
            (2) the prepayment may involve refinancing of the loan if 
        such refinancing results in a lower interest rate on the 
        principal of the loan for the project and in reductions in debt 
        service related to such loan.

    (b) Sources of Refinancing.--In the case of prepayment under this 
section involving refinancing, the project sponsor may refinance the 
project through any third party source, including financing by State and 
local housing finance agencies, use of tax-exempt bonds, multi-family 
mortgage insurance under the National Housing Act, reinsurance, or other 
credit enhancements, including risk sharing as provided under section 
542 of the Housing and Community Development Act of 1992 (12 U.S.C. 1707 
note). For purposes of underwriting a loan insured under the National 
Housing Act, the Secretary may assume that any section 8 rental 
assistance contract relating to a project will be renewed for the term 
of such loan.
    (c) Use of Unexpended Amounts.--Upon execution of the refinancing 
for a project pursuant to this section, the Secretary shall make 
available at least 50 percent of the annual savings resulting from 
reduced section 8 or other rental housing assistance

[[Page 114 STAT. 3020]]

contracts in a manner that is advantageous to the tenants, including--
            (1) not more than 15 percent of the cost of increasing the 
        availability or provision of supportive services, which may 
        include the financing of service coordinators and congregate 
        services;
            (2) rehabilitation, modernization, or retrofitting of 
        structures, common areas, or individual dwelling units;
            (3) construction of an addition or other facility in the 
        project, including assisted living facilities (or, upon the 
        approval of the Secretary, facilities located in the community 
        where the project sponsor refinances a project under this 
        section, or pools shared resources from more than one such 
        project); or
            (4) rent reduction of unassisted tenants residing in the 
        project according to a pro rata allocation of shared savings 
        resulting from the refinancing.

    (d) Use of Certain Project Funds.--The Secretary shall allow a 
project sponsor that is prepaying and refinancing a project under this 
section--
            (1) to use any residual receipts held for that project in 
        excess of $500 per individual dwelling unit for not more than 15 
        percent of the cost of activities designed to increase the 
        availability or provision of supportive services; and
            (2) to use any reserves for replacement in excess of $1,000 
        per individual dwelling unit for activities described in 
        paragraphs (2) and (3) of subsection (c).

    (e) Budget Act Compliance.--This section shall be effective only to 
extent or in such amounts that are provided in advance in appropriation 
Acts.

 Subtitle B--Authorization of Appropriations for Supportive Housing for 
                the Elderly and Persons With Disabilities

SEC. 821. SUPPORTIVE HOUSING FOR ELDERLY PERSONS.

    Section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) is amended 
by adding at the end the following:
    ``(m) Authorization of Appropriations.--There are authorized to be 
appropriated for providing assistance under this section such sums as 
may be necessary for each of fiscal years 2001, 2002, and 2003.''.

SEC. 822. SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES.

    Section 811 of the Cranston-Gonzalez National Affordable Housing Act 
(42 U.S.C. 8013) is amended by striking subsection (m) and inserting the 
following:
    ``(m) Authorization of Appropriations.--There are authorized to be 
appropriated for providing assistance under this section such sums as 
may be necessary for each of fiscal years 2001, 2002, and 2003.''.

[[Page 114 STAT. 3021]]

SEC. 823. SERVICE COORDINATORS AND CONGREGATE SERVICES FOR ELDERLY AND 
            DISABLED HOUSING.

    There are authorized to be appropriated to the Secretary such sums 
as may be necessary for each of fiscal years 2001, 2002, and 2003, for 
the following purposes:
            (1) Grants for service coordinators for certain federally 
        assisted multifamily housing.--For grants under section 676 of 
        the Housing and Community Development Act of 1992 (42 U.S.C. 
        13632) for providing service coordinators.
            (2) Congregate services for federally assisted housing.--For 
        contracts under section 802 of the Cranston-Gonzalez National 
        Affordable Housing Act (42 U.S.C. 8011) to provide congregate 
        services programs for eligible residents of eligible housing 
        projects under subparagraphs (B) through (D) of subsection 
        (k)(6) of such section.

Subtitle C--Expanding Housing Opportunities for the Elderly and Persons 
                            With Disabilities

                     PART 1--HOUSING FOR THE ELDERLY

SEC. 831. ELIGIBILITY OF FOR-PROFIT LIMITED PARTNERSHIPS.

    Section 202(k)(4) of the Housing Act of 1959 (12 U.S.C. 1701q(k)(4)) 
is amended by inserting after subparagraph (C) the following:
        ``Such term includes a for-profit limited partnership the sole 
        general partner of which is an organization meeting the 
        requirements under subparagraphs (A), (B), and (C), or a 
        corporation wholly owned and controlled by an organization 
        meeting the requirements under subparagraphs (A), (B), and 
        (C).''.

SEC. 832. MIXED FUNDING SOURCES.

    Section 202(h)(6) of the Housing Act of 1959 (12 U.S.C. 1701q(h)(6)) 
is amended--
            (1) by striking ``non-Federal sources'' and inserting 
        ``sources other than this section''; and
            (2) by adding at the end the following new sentence: 
        ``Notwithstanding any other provision of law, assistance amounts 
        provided under this section may be treated as amounts not 
        derived from a Federal grant.''.

SEC. 833. AUTHORITY TO ACQUIRE STRUCTURES.

    Section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) is 
amended--
            (1) in subsection (b), by striking ``from the Resolution 
        Trust Corporation''; and
            (2) in subsection (h)(2)--
                    (A) in the paragraph heading, by striking ``RTC 
                properties'' and inserting ``Acquisition''; and
                    (B) by striking ``from the Resolution'' and all that 
                follows through ``Insurance Act''.

SEC. 834. USE OF PROJECT RESERVES.

    Section 202( j) of the Housing Act of 1959 (12 U.S.C. 1701q( j)) is 
amended by adding at the end the following:

[[Page 114 STAT. 3022]]

            ``(8) Use of project reserves.--Amounts for project reserves 
        for a project assisted under this section may be used for costs, 
        subject to reasonable limitations as the Secretary determines 
        appropriate, for reducing the number of dwelling units in the 
        project. Such use shall be subject to the approval of the 
        Secretary to ensure that the use is designed to retrofit units 
        that are currently obsolete or unmarketable.''.

SEC. 835. COMMERCIAL ACTIVITIES.

    Section 202(h)(1) of the Housing Act of 1959 (12 U.S.C. 1701q(h)(1)) 
is amended by adding at the end the following: ``Neither this section 
nor any other provision of law may be construed as prohibiting or 
preventing the location and operation, in a project assisted under this 
section, of commercial facilities for the benefit of residents of the 
project and the community in which the project is located, except that 
assistance made available under this section may not be used to 
subsidize any such commercial facility.''.

              PART 2--HOUSING FOR PERSONS WITH DISABILITIES

SEC. 841. ELIGIBILITY OF FOR-PROFIT LIMITED PARTNERSHIPS.

    Section 811(k)(6) of the Housing Act of 1959 (42 U.S.C. 8013(k)(6)) 
is amended by inserting after subparagraph (D) the following:
        ``Such term includes a for-profit limited partnership the sole 
        general partner of which is an organization meeting the 
        requirements under subparagraphs (A), (B), (C), and (D) or a 
        corporation wholly owned and controlled by an organization 
        meeting the requirements under subparagraphs (A), (B), (C), and 
        (D).''.

SEC. 842. MIXED FUNDING SOURCES.

    Section 811(h)(5) of the Cranston-Gonzalez National Affordable 
Housing Act (42 U.S.C. 8013(h)(5)) is amended--
            (1) by striking ``non-Federal sources'' and inserting 
        ``sources other than this section''; and
            (2) by adding at the end the following new sentence: 
        ``Notwithstanding any other provision of law, assistance amounts 
        provided under this section may be treated as amounts not 
        derived from a Federal grant.''.

SEC. 843. TENANT-BASED ASSISTANCE.

    Section 811 of the Cranston-Gonzalez National Affordable Housing Act 
(42 U.S.C. 8013) is amended--
            (1) in subsection (d), by striking paragraph (4) and 
        inserting the following:
            ``(4) Tenant-based rental assistance.--
                    ``(A) Administering entities.--Tenant-based rental 
                assistance provided under subsection (b)(1) may be 
                provided only through a public housing agency that has 
                submitted and had approved a plan under section 7(d) of 
                the United States Housing Act of 1937 (42 U.S.C. 
                1437e(d)) that provides for such assistance, or through 
                a private nonprofit organization. A public housing 
                agency shall be eligible to apply under this section 
                only for the purposes of providing such tenant-based 
                rental assistance.

[[Page 114 STAT. 3023]]

                    ``(B) Program rules.--Tenant-based rental assistance 
                under subsection (b)(1) shall be made available to 
                eligible persons with disabilities and administered 
                under the same rules that govern tenant-based rental 
                assistance made available under section 8 of the United 
                States Housing Act of 1937, except that the Secretary 
                may waive or modify such rules, but only to the extent 
                necessary to provide for administering such assistance 
                under subsection (b)(1) through private nonprofit 
                organizations rather than through public housing 
                agencies.
                    ``(C) Allocation of assistance.--In determining the 
                amount of assistance provided under subsection (b)(1) 
                for a private nonprofit organization or public housing 
                agency, the Secretary shall consider the needs and 
                capabilities of the organization or agency, in the case 
                of a public housing agency, as described in the plan for 
                the agency under section 7 of the United States Housing 
                Act of 1937.''; and
            (2) in subsection (l)(1)--
                    (A) by striking ``subsection (b)'' and inserting 
                ``subsection (b)(2)''; and
                    (B) by striking the last comma and all that follows 
                through ``subsection (n)''.

SEC. 844. USE OF PROJECT RESERVES.

    Section 811( j) of the Cranston-Gonzalez National Affordable Housing 
Act (42 U.S.C. 8013( j)) is amended by adding at the end the following:
            ``(7) Use of project reserves.--Amounts for project reserves 
        for a project assisted under this section may be used for costs, 
        subject to reasonable limitations as the Secretary determines 
        appropriate, for reducing the number of dwelling units in the 
        project. Such use shall be subject to the approval of the 
        Secretary to ensure that the use is designed to retrofit units 
        that are currently obsolete or unmarketable.''.

SEC. 845. COMMERCIAL ACTIVITIES.

    Section 811(h)(1) of the Cranston-Gonzalez National Affordable 
Housing Act (42 U.S.C. 8013(h)(1)) is amended by adding at the end the 
following: ``Neither this section nor any other provision of law may be 
construed as prohibiting or preventing the location and operation, in a 
project assisted under this section, of commercial facilities for the 
benefit of residents of the project and the community in which the 
project is located, except that assistance made available under this 
section may not be used to subsidize any such commercial facility.''.

                        PART 3--OTHER PROVISIONS

SEC. 851. SERVICE COORDINATORS.

    (a) Increased Flexibility for Use of Service Coordinators in Certain 
Federally Assisted Housing.--Section 676 of the Housing and Community 
Development Act of 1992 (42 U.S.C. 13632) is amended--
            (1) in the section heading, by striking ``multifamily 
        housing assisted under national housing act'' and inserting 
        ``certain federally assisted housing'';
            (2) in subsection (a)--

[[Page 114 STAT. 3024]]

                    (A) in the first sentence, by striking ``(E) and 
                (F)'' and inserting ``(B), (C), (D), (E), (F), and 
                (G)''; and
                    (B) in the last sentence--
                          (i) by striking ``section 661'' and inserting 
                      ``section 671''; and
                          (ii) by adding at the end the following: ``A 
                      service coordinator funded with a grant under this 
                      section for a project may provide services to low-
                      income elderly or disabled families living in the 
                      vicinity of such project.'';
            (3) in subsection (d)--
                    (A) by striking ``(E) or (F)'' and inserting ``(B), 
                (C), (D), (E), (F), or (G)''; and
                    (B) by striking ``section 661'' and inserting 
                ``section 671''; and
            (4) by striking subsection (c) and redesignating subsection 
        (d) (as amended by paragraph (3) of this subsection) as 
        subsection (c).

    (b) Requirement To Provide Service Coordinators.--Section 671 of the 
Housing and Community Development Act of 1992 (42 U.S.C. 13631) is 
amended--
            (1) in the first sentence of subsection (a), by striking 
        ``to carry out this subtitle pursuant to the amendments made by 
        this subtitle'' and inserting the following: ``for providing 
        service coordinators under this section'';
            (2) in subsection (d), by inserting ``)'' after ``section 
        683(2)''; and
            (3) by adding at the end following:

    ``(e) Services for Low-Income Elderly or Disabled Families Residing 
in Vicinity of Certain Projects.--To the extent only that this section 
applies to service coordinators for covered federally assisted housing 
described in subparagraphs (B), (C), (D), (E), (F), and (G) of section 
683(2), any reference in this section to elderly or disabled residents 
of a project shall be construed to include low-income elderly or 
disabled families living in the vicinity of such project.''.
    (c) Protection Against Telemarketing Fraud.--
            (1) Supportive housing for the elderly.--The first sentence 
        of section 202(g)(1) of the Housing Act of 1959 (12 U.S.C. 
        1701q(g)(1)) is amended by striking ``and (F)'' and inserting 
        the following: ``(F) providing education and outreach regarding 
        telemarketing fraud, in accordance with the standards issued 
        under section 671(f ) of the Housing and Community Development 
        Act of 1992 (42 U.S.C. 13631(f )); and (G)''.
            (2) Other federally assisted housing.--Section 671 of the 
        Housing and Community Development Act of 1992 (42 U.S.C. 13631), 
        as amended by subsection (b) of this section, is further 
        amended--
                    (A) in the first sentence of subsection (c), by 
                inserting after ``response,'' the following: ``education 
                and outreach regarding telemarketing fraud in accordance 
                with the standards issued under subsection (f ),''; and
                    (B) by adding at the end the following:

    ``(f ) Protection Against Telemarketing Fraud.--
            ``(1) In <<NOTE: Regulations.>> general.--The Secretary, in 
        coordination with the Secretary of Health and Human Services, 
        shall establish standards for service coordinators in federally 
        assisted housing who

[[Page 114 STAT. 3025]]

        are providing education and outreach to elderly persons residing 
        in such housing regarding telemarketing fraud. The standards 
        shall be designed to ensure that such education and outreach 
        informs such elderly persons of the dangers of telemarketing 
        fraud and facilitates the investigation and prosecution of 
        telemarketers engaging in fraud against such residents.
            ``(2) Contents.--The standards established under this 
        subsection shall require that any such education and outreach be 
        provided in a manner that--
                    ``(A) informs such residents of--
                          ``(i) the prevalence of telemarketing fraud 
                      targeted against elderly persons;
                          ``(ii) how telemarketing fraud works;
                          ``(iii) how to identify telemarketing fraud;
                          ``(iv) how to protect themselves against 
                      telemarketing fraud, including an explanation of 
                      the dangers of providing bank account, credit 
                      card, or other financial or personal information 
                      over the telephone to unsolicited callers;
                          ``(v) how to report suspected attempts at 
                      telemarketing fraud; and
                          ``(vi) their consumer protection rights under 
                      Federal law;
                    ``(B) provides such other information as the 
                Secretary considers necessary to protect such residents 
                against fraudulent telemarketing; and
                    ``(C) disseminates the information provided by 
                appropriate means, and in determining such appropriate 
                means, the Secretary shall consider on-site 
                presentations at federally assisted housing, public 
                service announcements, a printed manual or pamphlet, an 
                Internet website, and telephone outreach to residents 
                whose names appear on `mooch lists' confiscated from 
                fraudulent telemarketers.''.

          Subtitle D--Preservation of Affordable Housing Stock

SEC. 861. SECTION 236 ASSISTANCE.

    (a) Extension of Authority to Retain Excess Charges.--Section 236(g) 
of the National Housing Act (12 U.S.C. 1715z-1(g)), as amended by the 
Departments of Veterans Affairs and Housing and Urban Development, and 
Independent Agencies Appropriations Act, 2001, is amended--
            (1) in paragraph (2), by striking ``Subject to paragraph (3) 
        and notwithstanding'' and inserting ``Notwithstanding''; and
            (2) by striking paragraph (3) and redesignating paragraph 
        (4) as paragraph (3).

    (b) Treatment of <<NOTE: 12 USC 1715z-1 note.>> Excess Charges 
Previously Collected.--Any excess charges that a project owner may 
retain pursuant to the amendments made by subsections (b) and (c) of 
section 532 of the Departments of Veterans Affairs and Housing and Urban 
Development, and Independent Agencies Appropriations Act, 2000 (Public 
Law 106-74; 113 Stat. 1116) that have been collected by such owner since 
the date of the enactment of such appropriations Act and that such owner 
has not remitted to the Secretary of Housing and Urban Development may 
be retained by such owner

[[Page 114 STAT. 3026]]

unless such Secretary otherwise provides. To the extent that a project 
owner has remitted such excess charges to the Secretary since such date 
of the enactment, the Secretary may return to the relevant project owner 
any such excess charges remitted. Notwithstanding any other provision of 
law, amounts in the Rental Housing Assistance Fund, or heretofore or 
subsequently transferred from the Rental Housing Assistance Fund to the 
Flexible Subsidy Fund, shall be available to make such return of excess 
charges previously remitted to the Secretary, including the return of 
excess charges referred to in section 532(e) of such appropriations Act.

               TITLE IX--OTHER RELATED HOUSING PROVISIONS

SEC. 901. EXTENSION OF LOAN TERM FOR MANUFACTURED HOME LOTS.

    Section 2(b)(3)(E) of the National Housing Act (12 U.S.C. 
1703(b)(3)(E)) is amended by striking ``fifteen'' and inserting 
``twenty''.

SEC. 902. USE OF SECTION 8 VOUCHERS FOR OPT-OUTS.

    (a) In General.--Section 8(t)(2) of the United States Housing Act of 
1937 (42 U.S.C. 1437f(t)(2)), as amended by the Departments of Veterans 
Affairs and Housing and Urban Development, and Independent Agencies 
Appropriations Act, 2001, is amended by striking ``fiscal year 1996'' 
and inserting ``fiscal year 1994''.
    (b) Effective <<NOTE: Applicability. 42 USC 1437f note.>>  Date.--
The amendment under subsection (a) shall be made and shall apply--
            (1) upon the enactment of this Act, if the Departments of 
        Veterans Affairs and Housing and Urban Development, and 
        Independent Agencies Appropriations Act, 2001, is enacted before 
        the enactment of this Act; and
            (2) immediately after the enactment of such appropriations 
        Act, if such appropriations Act is enacted after the enactment 
        of this Act.

SEC. 903. MAXIMUM PAYMENT STANDARD FOR ENHANCED VOUCHERS.

    (a) In General.--Section 8(t)(1)(B) of the United States Housing Act 
of 1937 (42 U.S.C. 1437f(t)(1)(B)), as amended by the Departments of 
Veterans Affairs and Housing and Urban Development, and Independent 
Agencies Appropriations Act, 2001, is amended by inserting before the 
semicolon at the end the following: ``, except that a limit shall not be 
considered reasonable for purposes of this subparagraph if it adversely 
affects such assisted families''.
    (b) Effective <<NOTE: Applicability. 42 USC 1437f note.>>  Date.--
The amendment under subsection (a) shall be made and shall apply--
            (1) upon the enactment of this Act, if the Departments of 
        Veterans Affairs and Housing and Urban Development, and 
        Independent Agencies Appropriations Act, 2001, is enacted before 
        the enactment of this Act; and
            (2) immediately after the enactment of such appropriations 
        Act, if such appropriations Act is enacted after the enactment 
        of this Act.

[[Page 114 STAT. 3027]]

SEC. 904. USE OF SECTION 8 ASSISTANCE BY ``GRAND-FAMILIES'' TO RENT 
            DWELLING UNITS IN ASSISTED PROJECTS.

    Section 215(a) of the Cranston-Gonzalez National Affordable Housing 
Act (42 U.S.C. 12745(a)) is amended by adding at the end the following 
new paragraph:
            ``(6) Waiver of qualifying rent.--
                    ``(A) In general.--For the purpose of providing 
                affordable housing appropriate for families described in 
                subparagraph (B), the Secretary may, upon the 
                application of the project owner, waive the 
                applicability of subparagraph (A) of paragraph (1) with 
                respect to a dwelling unit if--
                          ``(i) the unit is occupied by such a family, 
                      on whose behalf tenant-based assistance is 
                      provided under section 8 of the United States 
                      Housing Act of 1937 (42 U.S.C. 1437f );
                          ``(ii) the rent for the unit is not greater 
                      than the existing fair market rent for comparable 
                      units in the area, as established by the Secretary 
                      under section 8 of the United States Housing Act 
                      of 1937; and
                          ``(iii) the Secretary determines that the 
                      waiver, together with waivers under this paragraph 
                      for other dwelling units in the project, will 
                      result in the use of amounts described in clause 
                      (iii) in an effective manner that will improve the 
                      provision of affordable housing for such families.
                    ``(B) Eligible families.--A family described in this 
                subparagraph is a family that consists of at least one 
                elderly person (who is the head of household) and one or 
                more of such person's grand children, great 
                grandchildren, great nieces, great nephews, or great 
                great grandchildren (as defined by the Secretary), but 
                does not include any parent of such grandchildren, great 
                grandchildren, great nieces, great nephews, or great 
                great grandchildren. Such term includes any such 
                grandchildren, great grandchildren, great nieces, great 
                nephews, or great great grandchildren who have been 
                legally adopted by such elderly person.''.

                TITLE X--FEDERAL RESERVE BOARD PROVISIONS

SEC. 1001. FEDERAL RESERVE BOARD BUILDINGS.

    The third undesignated paragraph of section 10 of the Federal 
Reserve Act (12 U.S.C. 243) is amended--
            (1) by inserting after the first sentence the following new 
        sentence: ``After September 1, 2000, the Board may also use such 
        assessments to acquire, in its own name, a site or building (in 
        addition to the facilities existing on such date) to provide for 
        the performance of the functions of the Board.''; and
            (2) in the sentences following the sentence added by the 
        amendment made by paragraph (1) of this section--
                    (A) by striking ``the site'' and inserting ``any 
                site''; and
                    (B) by inserting ``or buildings'' after ``building'' 
                each place such term appears.

[[Page 114 STAT. 3028]]

SEC. 1002. POSITIONS OF BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 
            ON THE EXECUTIVE SCHEDULE.

    (a) In General.--
            (1) Positions at level i of the executive schedule.--Section 
        5312 of title 5, United States Code, is amended by adding at the 
        end the following:
            ``Chairman, Board of Governors of the Federal Reserve 
        System.''.
            (2) Positions at level ii of the executive schedule.--
        Section 5313 of title 5, United States Code, is amended--
                    (A) by striking ``Chairman, Board of Governors of 
                the Federal Reserve System.''; and
                    (B) by adding at the end the following:
            ``Members, Board of Governors of the Federal Reserve 
        System.''.
            (3) Positions at level iii of the executive schedule.--
        Section 5314 of title 5, United States Code, is amended by 
        striking ``Members, Board of Governors of the Federal Reserve 
        System.''.

    (b) Effective <<NOTE: 5 USC 5312 note.>> Date.--This section and the 
amendments made by this section shall take effect on the first day of 
the first pay period for the Chairman and Members of the Board of 
Governors of the Federal Reserve System beginning on or after the date 
of the enactment of this Act.

SEC. 1003. AMENDMENTS TO THE FEDERAL RESERVE ACT.

    (a) Repeal.--Section 2A of the Federal Reserve Act (12 U.S.C. 225a) 
is amended by striking all after the first sentence.
    (b) Appearances Before and Reports to the Congress.--
            (1) In general.--The Federal Reserve Act (12 U.S.C. 221 et 
        seq.) is amended by inserting after section 2A the following new 
        section:

``SEC. 2B. <<NOTE: 12 USC 225b.>> APPEARANCES BEFORE AND REPORTS TO THE 
            CONGRESS.

    ``(a) Appearances Before the Congress.--
            (1) In general.--The Chairman of the Board shall appear 
        before the Congress at semi-annual hearings, as specified in 
        paragraph (2), regarding--
                    ``(A) the efforts, activities, objectives and plans 
                of the Board and the Federal Open Market Committee with 
                respect to the conduct of monetary policy; and
                    ``(B) economic developments and prospects for the 
                future described in the report required in subsection 
                (b).
            ``(2) Schedule.--The Chairman of the Board shall appear--
                    ``(A) before the Committee on Banking and Financial 
                Services of the House of Representatives on or about 
                February 20 of even numbered calendar years and on or 
                about July 20 of odd numbered calendar years;
                    ``(B) before the Committee on Banking, Housing, and 
                Urban Affairs of the Senate on or about July 20 of even 
                numbered calendar years and on or about February 20 of 
                odd numbered calendar years; and
                    ``(C) before either Committee referred to in 
                subparagraph (A) or (B), upon request, following the 
                scheduled appearance of the Chairman before the other 
                Committee under subparagraph (A) or (B).

[[Page 114 STAT. 3029]]

    ``(b) Congressional Report.--The Board shall, concurrent with each 
semi-annual hearing required by this section, submit a written report to 
the Committee on Banking, Housing, and Urban Affairs of the Senate and 
the Committee on Banking and Financial Services of the House of 
Representatives, containing a discussion of the conduct of monetary 
policy and economic developments and prospects for the future, taking 
into account past and prospective developments in employment, 
unemployment, production, investment, real income, productivity, 
exchange rates, international trade and payments, and prices.''.

 TITLE XI--BANKING <<NOTE: Federal Reporting Act of 2000.>> AND HOUSING 
AGENCY REPORTS

SEC. 1101. SHORT TITLE.

    This title may be cited as the ``Federal Reporting Act of 2000''.

SEC. 1102. <<NOTE: 31 USC 1113 note.>> PRESERVATION OF CERTAIN REPORTING 
            REQUIREMENTS.

    Section 3003(a)(1) of the Federal Reports Elimination and Sunset Act 
of 1995 (31 U.S.C. 1113 note) shall not apply to any report required to 
be submitted under any of the following provisions of law:
            (1) Section 3 of the Employment Act of 1946 (15 U.S.C. 
        1022).
            (2) Section 309 of the Defense Production Act of 1950 (50 
        U.S.C. App. 2099).
            (3) Section 603 of the Public Works and Economic Development 
        Act of 1965 (42 U.S.C. 3213).
            (4) Section 7(o)(1) of the Department of Housing and Urban 
        Development Act (42 U.S.C. 3535(o)(1)).
            (5) Section 540(c) of the National Housing Act (12 U.S.C. 
        1735f-18(c)).
            (6) Paragraphs (2) and (6) of section 808(e) of the Civil 
        Rights Act of 1968 (42 U.S.C. 3608(e)).
            (7) Section 1061 of the Housing and Community Development 
        Act of 1992 (42 U.S.C. 4856).
            (8) Section 203(v) of the National Housing Act (12 U.S.C. 
        1709(v)), as added by section 504 of the Housing and Community 
        Development Act of 1992 (Public Law 102-550; 106 Stat. 3780).
            (9) Section 802 of the Housing Act of 1954 (12 U.S.C. 
        1701o).
            (10) Section 8 of the Department of Housing and Urban 
        Development Act (42 U.S.C. 3536).
            (11) Section 1320 of the National Flood Insurance Act of 
        1968 (42 U.S.C. 4027).
            (12) Section 4(e)(2) of the Department of Housing and Urban 
        Development Act (42 U.S.C. 3533(e)(2)).
            (13) Section 205(g) of the National Housing Act (12 U.S.C. 
        1711(g)).
            (14) Section 701(c)(1) of the International Financial 
        Institutions Act (22 U.S.C. 262d(c)(1)).
            (15) Paragraphs (1) and (2) of section 5302(c) of title 31, 
        United States Code.
            (16) Section 18(f )(7) of the Federal Trade Commission Act 
        (15 U.S.C. 57a(f )(7)).

[[Page 114 STAT. 3030]]

            (17) Section 333 of the Revised Statutes of the United 
        States (12 U.S.C. 14).
            (18) Section 3(g) of the Home Owners' Loan Act (12 U.S.C. 
        1462a(g)).
            (19) Section 304 of the Appalachian Regional Development Act 
        of 1965 (40 U.S.C. App. 304).
            (20) Sections 2(b)(1)(A), 8(a), 8(c), 10(g)(1), and 11(c) of 
        the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(A), 
        635g(a), 635g(c), 635i-3(g), and 635i-5(c)).
            (21) Section 17(a) of the Federal Deposit Insurance Act (12 
        U.S.C. 1827(a)).
            (22) Section 13 of the Federal Financing Bank Act of 1973 
        (12 U.S.C. 2292).
            (23) Section 2B(d) of the Federal Home Loan Bank Act (12 
        U.S.C. 1422b(d)).
            (24) Section 1002(b) of the Financial Institutions Reform, 
        Recovery, and Enforcement Act of 1989 (12 U.S.C. 1811 note).
            (25) Section 8 of the Fair Credit and Charge Card Disclosure 
        Act of 1988 (15 U.S.C. 1637 note).
            (26) Section 136(b)(4)(B) of the Truth in Lending Act (15 
        U.S.C. 1646(b)(4)(B)).
            (27) Section 707 of the Equal Credit Opportunity Act (15 
        U.S.C. 1691f ).
            (28) Section 114 of the Truth in Lending Act (15 U.S.C. 
        1613).
            (29) The seventh undesignated paragraph of section 10 of the 
        Federal Reserve Act (12 U.S.C. 247).
            (30) The tenth undesignated paragraph of section 10 of the 
        Federal Reserve Act (12 U.S.C. 247a).
            (31) Section 815 of the Fair Debt Collection Practices Act 
        (15 U.S.C. 1692m).
            (32) Section 102(d) of the Federal Credit Union Act (12 
        U.S.C. 1752a(d)).
            (33) Section 21B(i) of the Federal Home Loan Bank Act (12 
        U.S.C. 1441b(i)).
            (34) Section 607(a) of the Housing and Community Development 
        Amendments of 1978 (42 U.S.C. 8106(a)).
            (35) Section 708(l) of the Defense Production Act of 1950 
        (50 U.S.C. App. 2158(l)).
            (36) Section 2546 of the Comprehensive Thrift and Bank Fraud 
        Prosecution and Taxpayer Recovery Act of 1990 (28 U.S.C. 522 
        note).
            (37) Section 202(b)(8) of the National Housing Act (12 
        U.S.C. 1708(b)(8)).

SEC. 1103. COORDINATION OF REPORTING REQUIREMENTS.

    (a) Federal Deposit Insurance Corporation.--Section 17(a) of the 
Federal Deposit Insurance Act (12 U.S.C. 1827(a)) is amended by adding 
at the end the following new paragraph:
            ``(3) Coordination with other report requirements.--The 
        report required under this subsection shall include the report 
        required under section 18(f )(7) of the Federal Trade Commission 
        Act.''.

    (b) Board of Governors of the Federal Reserve System.--The seventh 
undesignated paragraph of section 10 of the Federal Reserve Act (12 
U.S.C. 247) is amended by adding at the end

[[Page 114 STAT. 3031]]

the following new sentence: ``The report required under this paragraph 
shall include the reports required under section 707 of the Equal Credit 
Opportunity Act, section 18(f )(7) of the Federal Trade Commission Act, 
section 114 of the Truth in Lending Act, and the tenth undesignated 
paragraph of this section.''.
    (c) Comptroller of the Currency.--Section 333 of the Revised 
Statutes of the United States (12 U.S.C. 14) is amended by adding at the 
end the following new sentence: ``The report required under this section 
shall include the report required under section 18(f )(7) of the Federal 
Trade Commission Act.''.
    (d) Export-Import Bank.--
            (1) In general.--Section 2(b)(1)(A) of the Export-Import 
        Bank Act of 1945 (12 U.S.C. 635(b)(1)(A)) is amended--
                    (A) by striking ``a annual'' and inserting ``an 
                annual''; and
                    (B) by adding at the end the following new sentence: 
                ``The annual report required under this subparagraph 
                shall include the report required under section 
                10(g).''.
            (2) Technical and conforming amendment.--Section 10(g)(1) of 
        the Export-Import Bank Act of 1945 (12 U.S.C. 635i-3(g)(1)) is 
        amended--
                    (A) by striking ``On or'' and all that follows 
                through ``the Bank'' and inserting ``The Bank''; and
                    (B) by striking ``a report'' and inserting ``an 
                annual report''.

    (e) Department of Housing and Urban Development.--Section 8 of the 
Department of Housing and Urban Development Act (42 U.S.C. 3536) is 
amended by adding at the end the following new sentence: ``The report 
required under this section shall include the reports required under 
paragraphs (2) and (6) of section 808(e) of the Civil Rights Act of 
1968, the reports required under subsections (a) and (b) of section 1061 
of the Housing and Community Development Act of 1992, the report 
required under section 802 of the Housing Act of 1954, and the report 
required under section 4(e)(2) of this Act.''.
    (f ) Federal Housing Administration.--Section 203(v) of the National 
Housing Act (12 U.S.C. 1709(v)), as added by section 504 of the Housing 
and Community Development Act of 1992, is amended by adding at the end 
the following new sentence:
``The report required under this subsection shall include the report 
required under section 540(c) and the report required under section 
205(g).''.
    (g) International Financial Institutions Act.--Section 701(c)(1) of 
the International Financial Institutions Act (22 U.S.C. 262d(c)(1)) is 
amended by striking ``Not later'' and all that follows through 
``quarterly'' and inserting ``The Secretary of the Treasury shall report 
annually''.

SEC. 1104. ELIMINATION OF CERTAIN REPORTING REQUIREMENTS.

    (a) Export-Import Bank.--The Export-Import Bank Act of 1945 (12 
U.S.C. 635 et seq.) is amended--
            (1) in <<NOTE: 12 USC 635.>> section 2(b)(1)(D)--
                    (A) by striking ``(i)''; and
                    (B) by striking clause (ii);
            (2) in section 2(b)(8), by striking the last sentence;
            (3) in <<NOTE: 12 USC 635e.>> section 6(b), by striking 
        paragraph (2) and redesignating paragraph (3) as paragraph (2); 
        and

[[Page 114 STAT. 3032]]

            (4) in section 8, <<NOTE: 12 USC 635g.>> by striking 
        subsections (b) and (d) and redesignating subsections (c) and 
        (e) as subsections (b) and (c), respectively.

    (b) Federal Deposit Insurance Corporation.--Section 17 of the 
Federal Deposit Insurance Act (12 U.S.C. 1827) is amended by striking 
subsection (h).

 TITLE XII--FINANCIAL <<NOTE: Financial Regulatory Relief and Economic 
Efficiency Act of 2000.>> REGULATORY RELIEF

SEC. 1200. <<NOTE: 12 USC 1811 note.>> SHORT TITLE.

    This title may be cited as the ``Financial Regulatory Relief and 
Economic Efficiency Act of 2000''.

    Subtitle A--Improving Monetary Policy and Financial Institution 
                          Management Practices

SEC. 1201. REPEAL OF SAVINGS ASSOCIATION LIQUIDITY PROVISION.

    (a) Repeal of Liquidity Provision.--Section 6 of the Home Owners' 
Loan Act (12 U.S.C. 1465) is hereby repealed.
    (b) Conforming Amendments.--
            (1) Section 5.--Section 5(c)(1)(M) of the Home Owners' Loan 
        Act (12 U.S.C. 1464(c)(1)(M)) is amended to read as follows:
                    ``(M) Liquidity investments.--Investments (other 
                than equity investments), identified by the Director, 
                for liquidity purposes, including cash, funds on deposit 
                at a Federal reserve bank or a Federal home loan bank, 
                or bankers' acceptances.''.
            (2) Section 10.--Section 10(m)(4)(B)(iii) of the Home 
        Owners' Loan Act (12 U.S.C. 1467a(m)(4)(B)(iii)) is amended by 
        inserting ``as in effect on the day before the date of the 
        enactment of the Financial Regulatory Relief and Economic 
        Efficiency Act of 2000,'' after ``Loan Act,''.

SEC. 1202. NONCONTROLLING INVESTMENTS BY SAVINGS ASSOCIATION HOLDING 
            COMPANIES.

    Section 10(e)(1)(A)(iii) of the Home Owners' Loan Act (12 U.S.C. 
1467a(e)(1)(A)(iii)) is amended--
            (1) by inserting ``, except with the prior written approval 
        of the Director,'' after ``or to retain''; and
            (2) by striking ``so acquire or retain'' and inserting 
        ``acquire or retain, and the Director may not authorize 
        acquisition or retention of,''.

SEC. 1203. REPEAL OF DEPOSIT BROKER NOTIFICATION AND RECORDKEEPING 
            REQUIREMENT.

    Section 29A of the Federal Deposit Insurance Act (12 U.S.C. 1831f-1) 
is hereby repealed.

[[Page 114 STAT. 3033]]

SEC. 1204. EXPEDITED PROCEDURES FOR CERTAIN REORGANIZATIONS.

    The National Bank Consolidation and Merger Act (12 U.S.C. 215 et 
seq.) is amended--
            (1) by redesignating <<NOTE: 12 USC 215b.>> section 5 as 
        section 7; and
            (2) by inserting after section 4 the following new section:

``SEC. 5. <<NOTE: 12 USC 215a-2.>> EXPEDITED PROCEDURES FOR CERTAIN 
            REORGANIZATIONS.

    ``(a) In General.--A national bank may, with the approval of the 
Comptroller, pursuant to rules and regulations promulgated by the 
Comptroller, and upon the affirmative vote of the shareholders of such 
bank owning at least two-thirds of its capital stock outstanding, 
reorganize so as to become a subsidiary of a bank holding company or of 
a company that will, upon consummation of such reorganization, become a 
bank holding company.
    ``(b) Reorganization Plan.--A reorganization authorized under 
subsection (a) shall be carried out in accordance with a reorganization 
plan that--
            ``(1) specifies the manner in which the reorganization shall 
        be carried out;
            ``(2) is approved by a majority of the entire board of 
        directors of the national bank;
            ``(3) specifies--
                    ``(A) the amount of cash or securities of the bank 
                holding company, or both, or other consideration to be 
                paid to the shareholders of the reorganizing bank in 
                exchange for their shares of stock of the bank;
                    ``(B) the date as of which the rights of each 
                shareholder to participate in such exchange will be 
                determined; and
                    ``(C) the manner in which the exchange will be 
                carried out; and
            ``(4) is submitted to the shareholders of the reorganizing 
        bank at a meeting to be held on the call of the directors in 
        accordance with the procedures prescribed in connection with a 
        merger of a national bank under section 3.

    ``(c) Rights of Dissenting Shareholders.--If, pursuant to this 
section, a reorganization plan has been approved by the shareholders and 
the Comptroller, any shareholder of the bank who has voted against the 
reorganization at the meeting referred to in subsection (b)(4), or has 
given notice in writing at or prior to that meeting to the presiding 
officer that the shareholder dissents from the reorganization plan, 
shall be entitled to receive the value of his or her shares, as provided 
by section 3 for the merger of a national bank.
    ``(d) Effect of Reorganization.--The corporate existence of a 
national bank that reorganizes in accordance with this section shall not 
be deemed to have been affected in any way by reason of such 
reorganization.
    ``(e) Approval Under the Bank Holding Company Act.--This section 
does not affect in any way the applicability of the Bank Holding Company 
Act of 1956 to a transaction described in subsection (a).''.

SEC. 1205. NATIONAL BANK DIRECTORS.

    (a) Amendments to the Revised Statutes.--Section 5145 of the Revised 
Statutes of the United States (12 U.S.C. 71) is amended--

[[Page 114 STAT. 3034]]

            (1) by striking ``for one year'' and inserting ``for a 
        period of not more than 3 years''; and
            (2) by adding at the end the following: ``In accordance with 
        regulations issued by the Comptroller of the Currency, a 
        national bank may adopt bylaws that provide for staggering the 
        terms of its directors.''.

    (b) Amendment to the Banking Act of 1933.--Section 31 of the Banking 
Act of 1933 (12 U.S.C. 71a) is amended in the first sentence, by 
inserting before the period ``, except that the Comptroller of the 
Currency may, by regulation or order, exempt a national bank from the 
25-member limit established by this section''.

SEC. 1206. AMENDMENT TO NATIONAL BANK CONSOLIDATION AND MERGER ACT.

    The National Bank Consolidation and Merger Act (12 U.S.C. 215 et 
seq.) is amended by inserting after section 5, as added by this title, 
the following new section:

``SEC. 6. <<NOTE: 12 USC 215a-3.>> MERGERS AND CONSOLIDATIONS WITH 
            SUBSIDIARIES AND NONBANK AFFILIATES.

    ``(a) In General.--Upon the approval of the Comptroller, a national 
bank may merge with one or more of its nonbank subsidiaries or 
affiliates.
    ``(b) Scope.--Nothing in this section shall be construed--
            ``(1) to affect the applicability of section 18(c) of the 
        Federal Deposit Insurance Act; or
            ``(2) to grant a national bank any power or authority that 
        is not permissible for a national bank under other applicable 
        provisions of law.

    ``(c) Regulations.--The Comptroller shall promulgate regulations to 
implement this section.''.

SEC. 1207. LOANS ON OR PURCHASES BY INSTITUTIONS OF THEIR OWN STOCK; 
            AFFILIATIONS.

    (a) Amendment to the Revised Statutes.--Section 5201 of the Revised 
Statutes of the United States (12 U.S.C. 83) is amended to read as 
follows:

``SEC. 5201. LOANS BY BANK ON ITS OWN STOCK.

    ``(a) General Prohibition.--No national bank shall make any loan or 
discount on the security of the shares of its own capital stock.
    ``(b) Exclusion.--For purposes of this section, a national bank 
shall not be deemed to be making a loan or discount on the security of 
the shares of its own capital stock if it acquires the stock to prevent 
loss upon a debt previously contracted for in good faith.''.
    (b) Amendments to the Federal Deposit Insurance Act.--Section 18 of 
the Federal Deposit Insurance Act (12 U.S.C. 1828) is amended--
            (1) by redesignating subsection (t), as added by section 730 
        of the Gramm-Leach-Bliley Act (Public Law 106-102; 113 Stat. 
        1476), as subsection (u); and
            (2) by adding at the end the following new subsection:

    ``(v) Loans by Insured Institutions on Their Own Stock.--
            ``(1) General prohibition.--No insured depository 
        institution may make any loan or discount on the security of the 
        shares of its own capital stock.

[[Page 114 STAT. 3035]]

            ``(2) Exclusion.--For purposes of this subsection, an 
        insured depository institution shall not be deemed to be making 
        a loan or discount on the security of the shares of its own 
        capital stock if it acquires the stock to prevent loss upon a 
        debt previously contracted for in good faith.''.

SEC. 1208. PURCHASED MORTGAGE SERVICING RIGHTS.

    Section 475 of the Federal Deposit Insurance Corporation Improvement 
Act of 1991 (12 U.S.C. 1828 note) is amended--
            (1) in subsection (a)(1), by inserting ``(or such other 
        percentage exceeding 90 percent but not exceeding 100 percent, 
        as may be determined under subsection (b))'' after ``90 
        percent'';
            (2) by redesignating subsections (b) and (c) as subsections 
        (c) and (d), respectively, and by inserting after subsection (a) 
        the following new subsection:

    ``(b) Authority To Determine Percentage by Which To Discount Value 
of Servicing Rights.--The appropriate Federal banking agencies may allow 
readily marketable purchased mortgage servicing rights to be valued at 
more than 90 percent of their fair market value but at not more than 100 
percent of such value, if such agencies jointly make a finding that such 
valuation would not have an adverse effect on the deposit insurance 
funds or the safety and soundness of insured depository institutions.''; 
and
            (3) in subsection (c), by striking ``and'' and inserting ``, 
        `deposit insurance fund', and''.

           Subtitle B--Streamlining Activities of Institutions

SEC. 1211. <<NOTE: 25 USC 4805a.>> CALL REPORT SIMPLIFICATION.

    (a) Modernization of Call Report Filing and Disclosure System.--In 
order to reduce the administrative requirements pertaining to bank 
reports of condition, savings association financial reports, and bank 
holding company consolidated and parent-only financial statements, and 
to improve the timeliness of such reports and statements, the Federal 
banking agencies shall--
            (1) work jointly to develop a system under which--
                    (A) insured depository institutions and their 
                affiliates may file such reports and statements 
                electronically; and
                    (B) the Federal banking agencies may make such 
                reports and statements available to the public 
                electronically; and
            (2) not later than <<NOTE: Deadline.>> 1 year after the date 
        of the enactment of this Act, report to the Congress and make 
        recommendations for legislation that would enhance efficiency 
        for filers and users of such reports and statements.

    (b) Uniform Reports and Simplification of Instructions.--The Federal 
banking agencies shall, consistent with the principles of safety and 
soundness, work jointly--
            (1) to adopt a single form for the filing of core 
        information required to be submitted under Federal law to all 
        such agencies in the reports and statements referred to in 
        subsection (a); and
            (2) to simplify instructions accompanying such reports and 
        statements and to provide an index to the instructions that is 
        adequate to meet the needs of both filers and users.

[[Page 114 STAT. 3036]]

    (c) Review of Call Report Schedule.--Each Federal banking agency 
shall--
            (1) review the information required by schedules 
        supplementing the core information referred to in subsection 
        (b); and
            (2) eliminate requirements that are not warranted for 
        reasons of safety and soundness or other public purposes.

    (d) Definition.--In this section, the term ``Federal banking 
agency'' has the same meaning as in section 3 of the Federal Deposit 
Insurance Act (12 U.S.C. 1813).

                 Subtitle C--Streamlining Agency Actions

SEC. 1221. ELIMINATION OF DUPLICATIVE DISCLOSURE OF FAIR MARKET VALUE OF 
            ASSETS AND LIABILITIES.

    Section 37(a)(3) of the Federal Deposit Insurance Act (12 U.S.C. 
1831n(a)(3)) is amended by striking subparagraph (D).

SEC. 1222. PAYMENT OF INTEREST IN RECEIVERSHIPS WITH SURPLUS FUNDS.

    Section 11(d)(10) of the Federal Deposit Insurance Act (12 U.S.C. 
1821(d)(10)) is amended by adding at the end the following new 
subparagraph:
                    ``(C) Rulemaking authority of corporation.--The 
                Corporation may prescribe such rules, including 
                definitions of terms, as it deems appropriate to 
                establish a single uniform interest rate for or to make 
                payments of post insolvency interest to creditors 
                holding proven claims against the receivership estates 
                of insured Federal or State depository institutions 
                following satisfaction by the receiver of the principal 
                amount of all creditor claims.''.

SEC. 1223. REPEAL OF REPORTING REQUIREMENT ON DIFFERENCES IN ACCOUNTING 
            STANDARDS.

    Section 37(c) of the Federal Deposit Insurance Act (12 U.S.C. 
1831n(c)) is amended--
            (1) in paragraph (1), by striking ``Each'' and all that 
        follows through ``a report'' and inserting ``The Federal banking 
        agencies shall jointly submit an annual report''; and
            (2) by inserting ``any'' before ``such agency'' each place 
        that term appears.

SEC. 1224. EXTENSION OF TIME.

    Section 6(a)(1) of the Federal Home Loan Bank Act (12 U.S.C. 
1426(a)(1)) is amended by striking ``1 year'' and inserting ``18 
months''.

                    Subtitle D--Technical Corrections

SEC. 1231. TECHNICAL CORRECTION RELATING TO DEPOSIT INSURANCE FUNDS.

    (a) In General.--Section 2707 of the Deposit Insurance Funds Act of 
1996 <<NOTE: 12 USC 1817.>> (Public Law 104-208; 110 Stat. 3009-496) is 
amended--
            (1) by striking ``7(b)(2)(C)'' and inserting ``7(b)(2)(E)''; 
        and
            (2) by striking ``, as redesignated by section 2704(d)(6) of 
        this subtitle''.

[[Page 114 STAT. 3037]]

    (b) Effective Date.--The <<NOTE: 12 USC 1817 note.>> amendments made 
by subsection (a) shall be deemed to have the same effective date as 
section 2707 of the Deposit Insurance Funds Act of 1996 (Public Law 104-
208; 110 Stat. 3009-496).

SEC. 1232. RULES FOR CONTINUATION OF DEPOSIT INSURANCE FOR MEMBER BANKS 
            CONVERTING CHARTERS.

    Section 8(o) of the Federal Deposit Insurance Act (12 U.S.C. 
1818(o)) is amended in the second sentence, by striking ``subsection (d) 
of section 4'' and inserting ``subsection (c) or (d) of section 4''.

SEC. 1233. AMENDMENTS TO THE REVISED STATUTES OF THE UNITED STATES.

    (a) Waiver of Citizenship Requirement for National Bank Directors.--
Section 5146 of the Revised Statutes of the United States (12 U.S.C. 72) 
is amended in the first sentence, by inserting before the period ``, and 
waive the requirement of citizenship in the case of not more than a 
minority of the total number of directors''.
    (b) Technical Amendment to the Revised Statutes.--Section 329 of the 
Revised Statutes of the United States (12 U.S.C. 11) is amended by 
striking ``to be interested in any association issuing national currency 
under the laws of the United States'' and inserting ``to hold an 
interest in any national bank''.
    (c) Repeal of Unnecessary Capital and Surplus Requirement.--Section 
5138 of the Revised Statutes of the United States (12 U.S.C. 51) is 
hereby repealed.

SEC. 1234. CONFORMING CHANGE TO THE INTERNATIONAL BANKING ACT OF 1978.

    Section 4(b) of the International Banking Act of 1978 (12 U.S.C. 
3102(b)) is amended in the second sentence, by striking paragraph (1) 
and by redesignating paragraphs (2) through (4) as paragraphs (1) 
through (3), respectively.

    Approved December 27, 2000.

LEGISLATIVE HISTORY--H.R. 5640 (H.R. 1776):
---------------------------------------------------------------------------

HOUSE REPORTS: Nos. 106-553 and Pt. 2 accompanying H.R. 1776 (Comm. on 
Banking and Financial Services).
CONGRESSIONAL RECORD, Vol. 146 (2000):
            Dec. 5, considered and passed House.
            Dec. 7, considered and passed Senate.

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