Sec. 604. Military Housing Privatization Initiative
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Each month beginning on the first month after the date of the enactment of this Act, the Secretary shall pay a lessor of covered housing 5 percent of the amount calculated under section 403(b)(3)(A)(i) of title 37, United States Code, for the area in which the covered housing exists. Any such payment shall be in addition to any other payment made by the Secretary to that lessor. Not later than December 1, 2018, the Secretary shall submit to the congressional defense committees a long-range plan to develop measures to consistently address the future sustainment, recapitalization, and financial condition of MHPI housing.
The plan shall include— efforts to mitigate the losses incurred by MHPI housing projects because of the reductions to BAH under section 603 of the National Defense Authorization Act for Fiscal Year 2016 ( Public Law 114–92 ; 37 U.S.C. 403(b)(3)(B) ); and a full assessment of the effects of such reductions (in relation to calculations of market rates for rent and utilities) on the financial condition of MHPI housing. The Secretary shall direct the Assistant Secretary of Defense for Energy, Installations, and Environment to take the following steps regarding reports under section 2884(c) of title 10, United States Code:
Provide additional contextual information on MHPI housing to identify any differences in the calculation of debt coverage ratios and any effect of such differences on their comparability. Immediately resume issuing such reports on the financial condition of MHPI housing. Revise Department of Defense guidance on MHPI housing— to ensure that relevant financial data (such as debt coverage ratios) in such reports are consistent and comparable in terms of the time periods of the data collected; to include a requirement that the secretary of each military department includes measures of future sustainment into each assessments of MHPI housing projects; and to require the secretary of each military department to define risk tolerance regarding the future sustainability of MHPI housing projects.
Report financial information on future sustainment of each MHPI housing project in such reports. Provide Department of Defense guidance to the secretaries of the military departments to— assess the significance of the specific risks to individual MHPI housing projects from the reduction in BAH; and identify methods to mitigate such risks based on their significance. Not later than December 1, 2018, finalize Department of Defense guidance that clearly defines— the circumstances in which the military departments shall provide notification of housing project changes to the congressional defense committees; and which types of such changes require prior notification to or prior approval from the congressional defense committees.
In this section: The term BAH means the basic allowance for housing under section 403 of title 37, United States Code. The term covered housing means a unit of MHPI housing that is leased to a member of a uniformed service who resides in such unit. The term MHPI housing means housing acquired or constructed under the alternative authority of subchapter IV of chapter 169 of title 10, United States Code (known as the Military Housing Privatization Initiative).
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