H.R.1397 - Project Rebuild Act of 2013113th Congress (2013-2014)
|Sponsor:||Rep. Waters, Maxine [D-CA-43] (Introduced 03/21/2013)|
|Committees:||House - Financial Services|
|Latest Action:||03/21/2013 Referred to the House Committee on Financial Services. (All Actions)|
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Summary: H.R.1397 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (03/21/2013)
Project Rebuild Act of 2013 - Appropriates funds for assistance to eligible entities including state and local governments, and qualified nonprofit organizations, businesses or eligible consortia for the redevelopment of abandoned and foreclosed-upon properties and for stabilization of affected neighborhoods (Project Rebuild).
Allows the use of funds to: (1) establish financing mechanisms for the purchase and redevelopment of abandoned and foreclosed-upon properties; (2) purchase and rehabilitate such properties; (3) establish and operate land banks for them; (4) demolish blighted structures (except public housing); and (5) redevelop abandoned, foreclosed, demolished, or vacant properties.
Requires each state to receive at least $20 million of formula funds, all of which shall be used with respect to low and moderate-income individuals and families.
Requires each state and local government grantee to establish procedures to create preferences for development of affordable rental housing.
Allows a grantee to use up to 10% to create jobs by establishing and operating a program to maintain eligible neighborhood properties.
Sets forth Buy American requirements.
Requires all laborers and mechanics employed by contractors and subcontractors on federally-assisted projects to be paid wages at the locally prevailing rates (Davis-Bacon Act).