Sec. 102. Middle-income housing construction loan fund
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There is established within the Treasury a fund to be known as the Middle Income Housing Construction Loan Fund (in this section referred to as the Fund ). Entitles eligible to receive amounts from the Fund include nonprofit organizations, public housing agencies, and qualified mission-driven housing developers. The Secretary shall use amounts in the Fund to make low-interest loans to entities described in subsection
(b)for rental housing construction or adaptive reuse, targeting households earning not less than 60 percent and not more than 120 percent of the area median income. To be eligible for a loan fund the Fund, an eligible recipient described in subsection
(b)shall submit to the Secretary an application in such form, at such time, and containing such information as the Secretary determines appropriate. In awarding loans from the Fund, the Secretary shall prioritize eligible recipients from high-cost, high opportunity markets where moderate-income renters are cost-burdened but do not qualify for deeply subsidized housing or housing that receives tax credits under section 42 of the Internal Revenue Code of 1986. All laborers and mechanics employed by contractors or subcontractors in the performance of construction, alteration, or repair work on a project assisted in whole or in part by funding made available under this section shall be paid wages at rates not less than those prevailing on similar projects 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 referred to as the Davis-Bacon Act ). With respect to the labor standards specified in this paragraph, the Secretary of Labor shall have the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (64 Stat. 1267; 5 U.S.C. App.) and section 3145 of title 40, United States Code. The following requirements apply with respect to the construction of any housing unit using amounts from the Fund: Eligible recipients shall ensure that, with respect to the construction of any housing unit, not less than 15 percent of the total labor hours of the construction, alteration, or rehabilitation work (including such work performed by any contractor or subcontractor) with respect to such unit shall, subject to subparagraph (B), be performed by qualified apprentices. The requirement under subparagraph
(A)shall be subject to any applicable requirements for apprentice-to-journeyworker ratios of the Secretary of Labor or the applicable State apprenticeship agency. Each eligible recipient, contractor, or subcontractor who employs 4 or more individuals to perform construction, alteration, or repair work with respect to the construction of a housing unit shall employ 1 or more qualified apprentices to perform such work. An eligible recipient shall not be treated as failing to satisfy the requirements of this paragraph if such eligible recipient— satisfies the requirements described in clause (ii); or with respect to an eligible recipient who is not described in subclause
(I)and does not satisfy the requirements of subparagraph
(A)with respect to such housing unit, such eligible recipient pays a penalty to the Secretary of Labor in an amount equal to the product of— $50; multiplied by the total labor hours for which the requirement subparagraph
(A)was not satisfied with respect to the construction, alteration, or repair work on such housing unit. For purposes of clause (i), an eligible recipient shall be deemed to have satisfied the requirements under this paragraph with respect to a housing unit if such eligible recipient has requested qualified apprentices from a registered apprenticeship program, and— such request has been denied, as long as such denial is not the result of a refusal by the eligible recipient or any contractors or subcontractors engaged in the performance of construction, alteration, or repair work with respect to such housing unit to comply with the established standards and requirements of the registered apprenticeship program; or the registered apprenticeship program fails to respond to such request within 5 business days after the date on which such registered apprenticeship program received such request. In this paragraph: The term labor hours — means the total number of hours devoted to the performance of construction, alteration, or repair work by any individual employed by the eligible recipient or by any contractor or subcontractor; and excludes any hours worked by— foremen; superintendents; owners; or persons employed in a bona fide executive, administrative, or professional capacity (within the meaning of those terms in part 541 of title 29, Code of Federal Regulations). The term qualified apprentice means an individual who— is employed by the eligible recipient or by any contractor or subcontractor; and is participating in a registered apprenticeship program. The term registered apprenticeship program means an apprenticeship program registered under the Act of August 16, 1937 (commonly known as the National Apprenticeship Act ; 50 Stat. 664, chapter 663; 29 U.S.C. 50 et seq. ). There is authorized to be appropriated to the Fund $10,000,000 for each of fiscal years 2026 through 2030.
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- 64 Stat. 1267
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Sec. 102
Middle-income housing construction loan fund
Stat.64 Stat. 1267
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