H.R.4278 - Community Partners Next Door Act of 2005109th Congress (2005-2006)
|Sponsor:||Rep. Lee, Barbara [D-CA-9] (Introduced 11/09/2005)|
|Committees:||House - Financial Services|
|Latest Action:||01/05/2006 Referred to the Subcommittee on Housing and Community Opportunity.|
This bill has the status Introduced
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Subject — Policy Area:
- Housing and Community Development
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Summary: H.R.4278 — 109th Congress (2005-2006)All Bill Information (Except Text)
Introduced in House (11/09/2005)
Community Partners Next Door Act of 2005 - Amends the National Housing Act to provide: (1) a 50% discount for teachers, teacher assistants, administrators, and public safety officers purchasing certain eligible asset properties for use as their primary residence; (2) a $100 downpayment on any related insured mortgage; and (3) a higher Federal Housing Administration (FHA) loan limit for such purchases in high-cost areas.
Authorizes such sales directly to a qualifying individual or to a unit of local government or a nonprofit organization for resale to such individual.
Directs the Secretary of Housing and Urban Development (HUD) to carry out a program to inform teachers and public safety officers about such program.