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Code · BILL · 115th Congress · S. 2489 (Introduced in Senate) — To amend the Housing Act of 1949 to extend the authority of the Secretary of Agriculture to make loans to certain ent... · Sec. 2

Sec. 2. Housing Act amendments

987 words·~4 min read·/bill/115/s/2489/is/section-2

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Section 501 of the Housing Act of 1949 ( 42 U.S.C. 1471 ) is amended— in subsection (a), by redesignating paragraph
(5)as paragraph
(9)and moving that paragraph to the position after subsection (b)(8); and in subsection (b)— in paragraph (9), as redesignated and moved by paragraph
(1)of this Act, by striking and inserting Definitions ; and Rehabilitate; rehabilitation; repair; repairs by adding at the end the following: In this title, the term community development financial institution has the meaning given the term in section 103 of the Community Development Banking and Financial Institutions Act of 1994 ( 12 U.S.C. 4702 ). In this title, the term Indian land has the meaning given the term is section 3 of the Native American Business Development, Trade Promotion, and Tourism Act of 2000 ( 25 U.S.C. 4302 ). In this title, the term Native community development financial institution means a community development financial institution that directs not less than 50 percent of the activities of that community development financial institution toward an Indian land. In this title, the term tribally designated housing entity has the meaning given the term in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 ( 25 U.S.C. 4103 ). . Section 501(a) of the Housing Act of 1949 ( 42 U.S.C. 1471(a) ) is amended— in paragraph (4)(B)(ii), by striking the period at the end and inserting ; and ; and by adding at the end the following: to a Native community development financial institution— for use by that Native community development financial institution for any of the purposes described in paragraphs
(1)through (4); or for the purpose of making a loan to an owner described in paragraph (1), (2), or
(3)of property on Indian trust land for any of the purposes described in paragraphs
(1)through (4); and to an Indian tribe or a tribally designated housing entity for the purpose of developing adequate housing that is modest in size, design, and cost (as determined by the Secretary) on Indian trust land. In this subsection, the term Indian trust land has the meaning given the term substantially underserved trust area in the Rural Electrification Act of 1936 ( 7 U.S.C. 936f ). . Title V of the Housing Act of 1949 ( 42 U.S.C. 1471 et seq.) is amended— in section 502 ( 42 U.S.C. 1472 ), by adding at the end the following: Of amounts made available to provide loans under this section beginning in the first fiscal year after the date of enactment of the Tribal Food and Housing Security Act and every fiscal year thereafter, the Secretary shall set aside 5 percent to provide loans to— Indian tribes; tribally designated housing entities; and members of Indian tribes on Indian land, with priority given to members of Indian tribes on Indian trust land, as defined in section 306F of the Rural Electrification Act of 1936 ( 7 U.S.C. 936f ). ; in section 504 ( 42 U.S.C. 1474 ), by adding at the end the following: Of amounts made available to provide loans or grants under this section beginning in the first fiscal year after the date of enactment of the Tribal Food and Housing Security Act and every fiscal year thereafter, the Secretary shall set aside 5 percent to provide loans or grants to— Indian tribes; tribally designated housing entities; and members of Indian tribes on Indian land, with priority given to members of Indian tribes on Indian trust land, as defined in section 306F of the Rural Electrification Act of 1936 ( 7 U.S.C. 936f ). ; in section 515 ( 42 U.S.C. 1485 ), by adding at the end the following: Of amounts made available to provide loans under this section beginning in the first fiscal year after the date of enactment of the Tribal Food and Housing Security Act and every fiscal year thereafter, the Secretary shall set aside 5 percent to provide loans to— Indian tribes; and tribally designated housing entities. ; in section 533 ( 42 U.S.C. 1490m ), by adding at the end the following: Of amounts made available to provide grants under this section beginning in the first fiscal year after the date of enactment of the Tribal Food and Housing Security Act and every fiscal year thereafter, the Secretary shall set aside 5 percent to provide grants to— Indian tribes; tribally designated housing entities; and members of Indian tribes on Indian land, with priority given to members of Indian tribes on Indian trust land, as defined in section 306F of the Rural Electrification Act of 1936 ( 7 U.S.C. 936f ). ; and in section 538 ( 42 U.S.C. 1490p–2 ), by adding at the end the following: Of the gross obligations provided for the principal amount of guaranteed loans under this section beginning in the first fiscal year after the date of enactment of the Tribal Food and Housing Security Act and every fiscal year thereafter, the Secretary shall set aside 5 percent to guarantee loans provided to— Indian tribes; and tribally designated housing entities. . In this paragraph, the terms Indian tribe and tribally designated housing entity have the meanings given those terms in section 501(b) of the Housing Act of 1949 ( 42 U.S.C. 1471(b) ), as amended by this Act. Of amounts made available beginning in the first fiscal year after the date of enactment of this Act and every fiscal year thereafter for community facility direct and guaranteed loans and grants under section 306(a) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1926(a) ) and water or waste disposal grants or direct or guaranteed loans under paragraph
(1)or
(2)of section 306(a) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1926(a) ), the Secretary of Agriculture shall set aside 5 percent to provide assistance to— Indian tribes; and tribally designated housing entities.
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