Sec. 102. Investing in affordable housing infrastructure

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Section 1338(a) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4568(a) ) is amended by adding at the end the following: There is authorized to be appropriated to the Housing Trust Fund $44,500,000,000 for each of fiscal years 2020 through 2029. . Section 1339 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4569 ) is amended by adding at the end the following: There is authorized to be appropriated to the Capital Magnet Fund $2,500,000,000 for each of fiscal years 2020 through 2029. .

Section 9(c)(2)(B) of the United States Housing Act of 1937 ( 42 U.S.C. 1437g(c)(2)(B) ) is amended to read as follows: For allocations of assistance from the Capital Fund, $3,592,000,000 for fiscal year 2020. . Section 108 of the Native American Housing Assistance and Self-Determination Act of 1996 ( 25 U.S.C. 4117 ) is amended— by striking such sums as may be necessary for each of fiscal years 2009 through 2013 and inserting $2,500,000,000 for fiscal year 2020 and such sums as may be necessary for each of fiscal years 2021 through 2029 ; and by striking the second sentence.

Section 824 of the Native American Housing Assistance and Self-Determination Act of 1996 ( 25 U.S.C. 4243 ) is amended by striking such sums as may be necessary for each of fiscal years 2001, 2002, 2003, 2004, and 2005 and inserting $8,000,000 for fiscal year 2020 . Out of funds in the Treasury not otherwise appropriated, there is appropriated for fiscal year 2020— to provide direct loans under section 502 of the Housing Act of 1949 ( 42 U.S.C. 1472 ), $140,000,000; to provide assistance under section 514 of such Act ( 42 U.S.C. 1484 ), $28,000,000; to provide assistance under section 515 of such Act ( 42 U.S.C. 1485 ), $180,000,000; to provide assistance under section 516 of such Act ( 42 U.S.C. 1486 ), $100,000,000; and to provide grants under section 523 of such Act ( 42 U.S.C. 1490c ), $75,000,000.

In this subsection, the term affordable rental housing unit means a unit for which monthly rent is 30 percent or less than the monthly area median income. The Secretary of Housing and Urban Development shall establish and manage a fund, to be known as the Middle Class Housing Emergency Fund , which shall be funded with any amounts as may be appropriated, transferred, or credited to the Fund under any provision law. From amounts available in the fund established under paragraph (2), the Secretary of Housing and Urban Development shall award grants on a competitive basis to State housing finance agencies located in a State in which— there is a shortage of affordable rental housing units available to individuals with an income that is at or below the area median income and median rents have risen on average over the preceding 3 years substantially faster than the area median income; or there is a shortage of housing units available for sale that are affordable to individuals with an income that is at or below the area median income and median home prices have risen on average over the preceding 3 years substantially faster than the area median income.

Grants received under this subsection shall be used to fund— the construction of rental housing units or units for purchase that are affordable to residents making less than 120 percent of the area median income; and measures to prevent tenant displacement and harassment, including the provision of legal advice and representation for tenants facing eviction, enforcement of anti-harassment laws, emergency rental assistance, and other measures as specified by the Secretary of Housing and Urban Development.

All laborers and mechanics employed by contractors or subcontractors in the performance of construction work financed in whole or in part with a grant received under this subsection shall be paid wages at rates not less than those prevailing on similar construction in the locality as determined by the Secretary of Labor in accordance with subchapter IV of chapter 31 of title 40, United States Code (commonly known as the Davis-Bacon Act ). Subparagraph

(A)shall not apply with respect to— the rehabilitation of residential property if the property contains less than 8 units; or construction carried out by employees of the eligible entity receiving the grant under this section. The Secretary of Housing and Urban Development shall promulgate regulations to carry out this subsection, including with respect to the metrics that the Secretary shall use to determine eligibility for a grant under this subsection. Out of funds in the Treasury not otherwise appropriated, there is appropriated to the fund established under this subsection $4,000,000,000 for fiscal year 2020.

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