Sec. 404. Additional taxpayer protections
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/bill/113/s/1217/rs/section-404A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary of Housing and Urban Development and the Secretary of the Treasury, respectively, shall ensure that grant amounts allocated to covered grantees, allocated by covered grantees to eligible recipients, or allocated to individuals by such eligible recipients are used for the benefit of only lawful permanent residents and citizens of the United States in carrying out the activities of— the Housing Trust Fund; and the Capital Magnet Fund. Consistent with the existing requirements under sections 1338(c)(10)(D) and section 1339(h)(5) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, the Secretary of Housing and Urban Development and the Secretary of the Treasury, respectively, shall ensure that grant amounts allocated by covered grantees to eligible recipients or allocated to individuals by such eligible recipients are not used for— political activities; advocacy; lobbying, whether directly or through other parties; influencing the selection, nomination, election, or appointment of one or more candidates to any Federal, State or local office; personal counseling services; travel expenses; and preparing or providing advice on tax returns.
If an eligible recipient or any other individual in receipt of grant amounts described by this section violates any provision of subsection
(a)or (b), the Secretary of Housing and Urban Development or the Secretary of the Treasury, as the case may be, may impose a civil penalty on such recipient or individual, as the case may be, of not more than $1,000,000 for each violation. Whoever, being subject to the provisions of subsection
(a)or (b), knowingly participates, directly or indirectly, in any manner in conduct that results in a violation of such provisions shall, notwithstanding section 3571 of title 18, United States Code, be fined not more than $1,000,000 for each violation, imprisoned for not more than 5 years, or both. The penalties imposed under paragraphs
(1)or
(2)shall be in addition to any other available civil remedy or any other available criminal penalty and may be imposed whether or not the Secretary of Housing and Urban Development or the Secretary of the Treasury, as the case may be, imposes other administrative sanctions. As used in this section— the term covered grantee means— for purposes of the Housing Trust Fund, a State or State designated entity; and for purposes of the Capital Magnet Fund, an eligible grantee as described under section 1339(e) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992; the term eligible recipient means— for purposes of the Housing Trust Fund, a recipient as described under section 1338(c)(9) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992t; and for purposes of the Capital Magnet Fund, a recipient of assistance from the Capital Magnet Fund; the term Capital Magnet Fund means the Capital Magnet Fund established under section 1339 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4569 ); and the term Housing Trust Fund means the Housing Trust Fund established under section 1338 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4568 ).
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