Sec. 301. Use of savings for Housing Trust Fund investment
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/bill/115/hr/7375/ih/section-301·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For each of the years 2019 through 2028, the Secretary of the Treasury shall determine the amount of revenues accruing to the general fund of the Treasury by reason of the enactment of titles I and II of this Act and shall credit an amount equal to such revenues to 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 ). Of any amount credited to the Housing Trust Fund for a year pursuant to subsection (a), 10 percent shall be allocated for and distributed to States, in accordance with the formula established pursuant to subsection (c)(3) of such section 1338, for use only to conduct activities to remediate environmental hazards, including activities for reduction, elimination, and abatement of lead-based paint hazards, in housing for extremely low- and very low-income households.
Section 1338 (g)(2)(D) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4568(g)(2)(D) ) is amended— in clause (v), by striking and at the end; in clause (vi), by striking the period at the end and inserting ; and ; and by adding at the end the following new clause: the ratio of children living in an applicant's jurisdiction that suffer from blood lead levels higher than 5 micrograms per deciliter. .
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Sec. 301
Use of savings for Housing Trust Fund investment
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