Sec. 1001. Application review
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It is the sense of Congress, not later than 90 days after the date on which the Secretary of Agriculture receives an application for a loan, grant or combined loan and grant under section 502 or 504 of the Housing Act of 1949 ( 42 U.S.C. 1472 , 1474), the Secretary of Agriculture should— review the application; complete the underwriting; make a determination of eligibility with respect to the application; and notify the applicant of determination. Not later than 90 days after the date of enactment of this Act, and annually thereafter until the date described in paragraph (2), the Secretary of Agriculture shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report— detailing the timeliness of eligibility determinations and final determinations with respect to applications under section 502 and 504 of the Housing Act of 1949 ( 42 U.S.C. 1472 , 1474), including justifications for any eligibility determinations taking longer than 90 days; that includes recommendations to shorten the timeline for notifications of eligibility determinations described in paragraph
(1)to not more than 90 days. The date described in this paragraph is the date on which, during the preceding 5-year period, the Secretary of Agriculture provides each eligibility determination described in paragraph
(1)during the 90-day period beginning on the date on which each application is received.
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Sec. 1001
Application review
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