To establish the National Affordable Housing Trust Fund in the Treasury of the United States to provide for the construction, rehabilitation, and preservation of decent, safe, and affordable housing for low-income families.
National Affordable Housing Trust Fund Act of 2007 - Amends the Cranston-Gonzalez National Affordable Housing Act to establish in the Treasury the National Affordable Housing Trust Fund (Fund).
Declares that: (1) the Fund shall consist of certain amounts of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation transferred to the Fund under specified law, including Federal Housing Administration (FHA) savings; and (2) all assistance provided from the Fund shall be considered to be federal financial assistance.
Sets forth conditions on the use of FHA savings, including: (1) single family housing mortgage insurance; (2) housing counseling; (3) mortgage insurance technology, procedures, processes, program performance, and salaries; (4) exclusion of earnings from the single family mortgage insurance program; and (5) limitation on mortgage insurance premium increases.
Sets forth allocations for states, Indian tribes, insular areas, and participating local jurisdictions.
Directs the Secretary of Housing and Urban Development (HUD) to: (1) establish a formula to make such allocations based on the relative needs of recipients for funds to increase the supply of decent quality affordable housing; and (2) make a grant to each entity in the amount of such allocation.
Requires such formula to be: (1) based upon a comparison of specified factors; and (2) submitted to specified congressional committees.
Sets forth a matching requirement.
Provides for: (1) state use of local jurisdictions' unused funds; and (2) competitive grants for areas without allocation plans and recipients with insufficient matching contributions.
Requires each grantee to: (1) establish an allocation plan for the distribution of Trust Fund grant amounts that meets specified criteria; (2) notify the public and provide an opportunity for public comments regarding such plan; (3) submit the plan for HUD approval; and (4) distribute grant amounts.
Authorizes a grantee, with respect to eligible activities involving one- to four-family owner-occupied housing, to give preference in the use of grant amounts to eligible activities relating to affordable housing for first responders, public safety officers, teachers, and other public employees who have family incomes, subject to specified requirements.
Sets forth targeting requirements for the following groups: (1) low-income families; (2) extremely low-income families; (3) very poor families; and (4) families above 50% of area median income. Requires HUD to report to Congress regarding such requirements.
Specifies prohibited uses of grants amounts, including: (1) political activities; (2) advocacy; and (3) counseling services.
Prescribes affordable housing criteria for: (1) rental housing; (2) owner-occupied housing; and (3) priority for families on section 8 rental assistance or public housing waiting list for 12 months or longer.
Prescribes requirements for the tracking of funds to ensure grantee and recipient accountability.
Directs the Secretary to establish a clearinghouse of information, made available over the Internet, relating to green building techniques to provide grantees and Fund recipients information regarding use of Fund amounts in a manner that increases the efficiency of buildings and their use of energy, water, and materials, and reduces building impacts on human health and the environment, through better siting, design, construction, operation, maintenance, and removal.
Declares that nothing in this Act allows any payments for any individual or head of household that is not a legal resident.
Motion to reconsider laid on the table Agreed to without objection.
DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 10 minutes of debate on the Hastings (FL) amendment.
DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 10 minutes of debate on the Frank (MA) amendment.
DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 10 minutes of debate on the Frank (MA) amendment.
DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 10 minutes of debate on the Frank (MA) amendment.
DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 10 minutes of debate on the Frank (MA) amendment.
DEBATE - Pursuant to the provisions of H. Res. 720, the Committee of the Whole proceeded with 20 minutes of debate on the Neugebauer amendment.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Neugebauer amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Neugebauer demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 2895.
The previous question was ordered pursuant to the rule. (consideration: CR H11443)
The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text: CR H11425-11430)
Mrs. Musgrave moved to recommit with instructions to Financial Services. (consideration: CR H11443-11445)
DEBATE - The House proceeded with 10 minutes of debate on the Musgrave motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with language inserting work requirements for residents.
The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H11444)
On motion to recommit with instructions Failed by recorded vote: 199 - 218 (Roll no. 957).
Roll Call #957 (House)Passed/agreed to in House: On passage Passed by the Yeas and Nays: 264 - 148 (Roll no. 958).
Roll Call #958 (House)Motion to reconsider laid on the table Agreed to without objection.
On passage Passed by the Yeas and Nays: 264 - 148 (Roll no. 958).
Roll Call #958 (House)The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 2895.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.