NSP Termination Act - Rescinds and cancels permanently all unobligated balances remaining available, as of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, to the Secretary of Housing and Urban Development (HUD) for assistance to states and local governments for the redevelopment of abandoned and foreclosed homes and residential properties. (Thus, rescinds the third round of funding for the Neighborhood Stabilization Program [NSP].) Urges that all such rescinded and canceled amounts be retained in the Treasury General Fund for reducing the federal budget deficit.
Subjects to possible rescission and permanent cancellation certain amounts allocated by the Secretary under the third round of funding for the NSP to specified states, including city, county, and municipal governments.
Amends the Housing and Economic Recovery Act of 2008 to repeal emergency FY2008 appropriations for the Program.
States that such appropriations, together with amounts made available for the Program in the HUD, Community Planning and Development, Community Development Fund under title XII of division A of the American Recovery and Reinvestment Act of 2009, shall continue to be governed by any provisions of law applicable to such amounts as in effect before the repeal.
Requires the Secretary to terminate the Program upon the obligation of all such amounts and outlays to liquidate them.
Requires the Secretary to publish on the HUD website a statement as to: (1) termination of the NSP; and (2) the availability of a Member of Congress and state, county, and local officials to provide assistance in mitigating the impacts of foreclosed properties on an individual's community.
Requires the Comptroller General to study the economic impacts of: (1) round three NSP funding on states and communities that would occur if it were not rescinded and canceled but remained available, and (2) actual round one and round two NSP assistance on those states and communities.
DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with 10 minutes of debate on the Loretta Sanchez amendment number 4.
DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with 10 minutes of debate on the Richardson amendment number 5.
DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment number 6.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment, the Chair put the question on the amendment and by voice vote, announced the noes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings on the amendment until later in the legislative day.
DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment number 7.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment, the Chair put the question on the amendment and by voice vote, announced the noes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings on the amendment until later in the legislative day.
DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with 10 minutes of debate on the Maloney amendment number 8.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Maloney amendment, the Chair put the question on the amendment and by voice vote, announced the noes had prevailed. Ms. Maloney demanded a recorded vote and the Chair postponed further proceedings on the amendment until later in the legislative day.
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DEBATE - Pursuant to the provisions of H.Res. 170, the Comittee of the Whole proceeded with 10 minutes of debate on the Castor amendments en bloc.
UNFINISHED BUSINESS - The Chair announced that the unfinished business was on the question of adoption of amendments which had been debated earlier and on which further proceedings were postponed.
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 861.
The previous question was ordered pursuant to the rule. (consideration: CR H1893)
Mr. Braley (IA) moved to recommit with instructions to Financial Services. (consideration: CR H1893-1895; text: CR H1893)
DEBATE - The House proceeded with 10 minutes of debate on the Braley (IA) motion to recommit with instructions. The instructions contained in the motion seek to report the bill back to the House with an amendment to require that states give priority emphasis and consideration to rural areas when distributing Neighborhood Stabilization Program funds that were allocated by HUD and appropriated under the Dodd-Frank Wall Street Reform and Consumer Protection Act, pending reservation of a point of order. Subsequently, the reservation was removed.
The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H1894)
On motion to recommit with instructions Failed by recorded vote: 153 - 272 (Roll no. 187).
Roll Call #187 (House)Passed/agreed to in House: On passage Passed by recorded vote: 242 - 182 (Roll no. 188).
Roll Call #188 (House)On passage Passed by recorded vote: 242 - 182 (Roll no. 188).
Roll Call #188 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.