[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 172 Introduced in House (IH)]
110th CONGRESS
1st Session
H. R. 172
To assist teachers and public safety officers in obtaining affordable
housing.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 4, 2007
Ms. Lee introduced the following bill; which was referred to the
Committee on Financial Services
_______________________________________________________________________
A BILL
To assist teachers and public safety officers in obtaining affordable
housing.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Community Partners Next Door Act of
2007''.
SEC. 2. COMMUNITY PARTNERS NEXT DOOR PROGRAM.
(a) Discount and Downpayment Assistance for Teachers and Public
Safety Officers.--Section 204(h) of the National Housing Act (12 U.S.C.
1710(h)) is amended--
(1) by redesignating paragraphs (7) through (10) as
paragraphs (8) through (11), respectively; and
(2) by inserting after paragraph (6) the following new
paragraph:
``(7) 50 percent discount for teachers and public safety
officers purchasing properties that are eligible assets.--
``(A) Discount.--A property that is an eligible
asset and is sold to a teacher or public safety officer
for use in accordance with subparagraph (B) shall be
sold at a price that is equal to 50 percent of the
appraised value of the eligible property (as determined
in accordance with paragraph (6)(B)). In the case of a
property eligible for both a discount under this
paragraph and a discount under paragraph (6), the
discount under paragraph (6) shall not apply.
``(B) Primary residence.--An eligible property sold
pursuant to a discount under this paragraph shall be
used, for not less than the 3-year period beginning
upon such sale, as the primary residence of a teacher
or public safety officer.
``(C) Sale methods.--The Secretary may sell an
eligible property pursuant to a discount under this
paragraph--
``(i) to a unit of general local government
or nonprofit organization (pursuant to
paragraph (4) or otherwise), for resale or
transfer to a teacher or public safety officer;
or
``(ii) directly to a purchaser who is a
teacher or public safety officer.
``(D) Resale.--In the case of any purchase by a
unit of general local government or nonprofit
organization of an eligible property sold at a
discounted price under this paragraph, the sale
agreement under paragraph (8) shall--
``(i) require the purchasing unit of
general local government or nonprofit
organization to provide the full benefit of the
discount to the teacher or public safety
officer obtaining the property; and
``(ii) in the case of a purchase involving
multiple eligible assets, any of which is such
an eligible property, designate the specific
eligible property or properties to be subject
to the requirements of subparagraph (B).
``(E) Mortgage downpayment assistance.--If a
teacher or public safety officer purchases an eligible
property pursuant to a discounted sale price under this
paragraph and finances such purchase through a mortgage
insured under this title, notwithstanding any provision
of section 203 the downpayment on such mortgage shall
be $100.
``(F) Higher fha loan limit for purchase of
eligible properties in high-cost areas.--
``(i) In general.--Notwithstanding any
other provision of this title relating to the
maximum amount of the principal obligation of a
mortgage that may be insured under this title,
in the case of an eligible property that is
located in a high-cost area and is purchased
pursuant to a discounted sale price under this
paragraph, the Secretary may insure a mortgage
for the purchase of such eligible property that
involves a principal obligation (including such
initial service charges, appraisal, inspection,
and other fees as the Secretary shall approve)
in an amount not exceeding 150 percent of the
limitation on such principal obligation
otherwise applicable under section
203(b)(2)(A).
``(ii) High-cost area.--For purposes of
this subparagraph, the term `high-cost area'
means any area for which the median 1-family
house price in the area exceeds the maximum
amount limitation on the principal obligation
of a mortgage determined at such time under
section 203(b)(2)(A)(ii).
``(G) Prevention of undue profit.--The Secretary
shall issue regulations to prevent undue profit from
the resale of eligible properties in violation of the
requirement under subparagraph (B).
``(H) Definitions.--For the purposes of this
paragraph, the following definitions shall apply:
``(i) The term `eligible property' means an
eligible asset described in paragraph (2)(A) of
this subsection.
``(ii) The term `public safety officer' has
the meaning given such term in section 1204 of
the Omnibus Crime Control and Safe Streets Act
of 1968 (42 U.S.C. 3796b).
``(iii) The term `teacher' means an
individual who is employed on a part- or full-
time basis as a teacher, teacher assistant, or
administrator in a public or private school
that provides elementary or secondary
education, as determined under State law,
except that elementary education shall include
pre-Kindergarten education, and except that
secondary education shall not include any
education beyond grade 12.
``(I) Program integrity.--Notwithstanding any other
provision of this paragraph, the Secretary may suspend
the applicability of this paragraph for such period as
the Secretary considers appropriate if the Secretary
determines such suspension is necessary because of
fraud or other issues regarding program integrity.''.
(b) Conforming Amendments.--Section 204(h) of the National Housing
Act (12 U.S.C. 1710(h)) is amended--
(1) in paragraph (4)(B)(ii), by striking ``paragraph (7)''
and inserting ``paragraph (8)'';
(2) in paragraph (5)(B)(i), by striking ``paragraph (7)''
and inserting ``paragraph (8)''; and
(3) in paragraph (6)(A), by striking ``paragraph (8)'' and
inserting ``paragraph (9)''.
(c) Regulations.--Not later than 60 days after the date of the
enactment of this Act, the Secretary shall issue regulations to
implement the amendments made by this section.
SEC. 3. TEACHER AND PUBLIC SAFETY OFFICER AWARENESS CAMPAIGN.
(a) In General.--The Secretary of Housing and Urban Development, in
coordination with the Secretary of Education and the Attorney General,
shall carry out a program of activities to inform and educate teachers
and public safety officers of the availability and terms of the program
established by the amendments made by section 2.
(b) Eligible Activities.--Amounts made available for the program
under this section may be used only for activities designed to
accomplish the purpose specified in subsection (a), which may include
public service announcements, bus tours, advertising in teacher or
public safety officer journals, development of web sites, establishment
of toll-free telephone numbers for providing information, and such
other activities as the Secretary of Housing and Urban Development may
consider appropriate.
(c) Authorization of Appropriations.--There are authorized to be
appropriated to the Secretary of Housing and Urban Development for each
of fiscal years 2008 through 2015 such sums as may be necessary for
carrying out the program under this section.
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