Text of Senate Amendment 4308

Text of Senate Amendment 4308

Congressional Record, Volume 172 Issue 41 (Wednesday, March 4, 2026) [Congressional Record Volume 172, Number 41 (Wednesday, March 4, 2026)] [Senate] [Pages S806-S836] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 4308. Mr. SCOTT of South Carolina (for himself and Ms. Warren) proposed an amendment to the bill H.R. 6644, a bill to increase the supply of housing in America, and for other purposes; as follows: Strike all after the enacting clause and insert the following: SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) Short Title.-- This Act may be cited as the ``21st Century ROAD to Housing Act''. (b) Table of Contents.--The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. TITLE I--IMPROVING FINANCIAL LITERACY Sec. 101. Reforms to housing counseling and financial literacy programs. TITLE II--BUILDING MORE IN AMERICA Sec. 201. Rental assistance demonstration program. Sec. 202. Increasing housing in opportunity zones. Sec. 203. Whole-Home Repairs Act. Sec. 204. Community Investment and Prosperity Act. Sec. 205. Build Now Act. Sec. 206. Addition of affordable housing construction as an eligible activity. Sec. 207. Better Use of Intergovernmental and Local Development (BUILD) Housing Act. Sec. 208. Unlocking Housing Supply Through Streamlined and Modernized Reviews Act. Sec. 209. Grants for planning and implementation associated with affordable housing. Sec. 210. Innovation Fund. Sec. 211. Accelerating Home Building Act. Sec. 212. Revitalizing Empty Structures Into Desirable Environments (RESIDE) Act. Sec. 213. Housing Affordability Act. TITLE III--MANUFACTURED HOUSING FOR AMERICA Sec. 301. Housing Supply Expansion Act. Sec. 302. Modular Housing Production Act. Sec. 303. Property Improvement and Manufactured Housing Loan Modernization Act. Sec. 304. Price Act. TITLE IV--ACCESSING THE AMERICAN DREAM Sec. 401. Creating incentives for small dollar loan originators. Sec. 402. Small dollar mortgage points and fees. Sec. 403. Appraisal Industry Improvement Act. Sec. 404. Helping More Families Save Act. Sec. 405. Choice in Affordable Housing Act. TITLE V--PROGRAM REFORM Sec. 501. Reforming Disaster Recovery Act. Sec. 502. HOME Investment Partnerships Reauthorization and Reform Act. Sec. 503. Rural Housing Service Reform Act. Sec. 504. New Moving to Work cohort. Sec. 505. Incentivizing local solutions to homelessness. TITLE VI--VETERANS AND HOUSING Sec. 601. VA Home Loan Awareness Act. Sec. 602. Veterans Affairs Loan Informed Disclosure (VALID) Act. Sec. 603. Housing Unhoused Disabled Veterans Act. TITLE VII--OVERSIGHT AND ACCOUNTABILITY Sec. 701. Requiring annual testimony and oversight from housing regulators. Sec. 702. FHA reporting requirements on safety and soundness. Sec. 703. United States Interagency Council on Homelessness oversight. Sec. 704. Appraisal Modernization Act. TITLE VIII--COORDINATION, STUDIES, AND REPORTING Sec. 801. HUD-USDA-VA Interagency Coordination Act. Sec. 802. Streamlining Rural Housing Act. Sec. 803. Improving self-sufficiency of families in HUD-subsidized housing. TITLE IX--HOMEOWNERSHIP FOR MAIN STREET AMERICA Sec. 901. Homes are for people, not corporations. TITLE X--CENTRAL BANK DIGITAL CURRENCY Sec. 1001. Central bank digital currency. TITLE XI--MISCELLANEOUS Sec. 1101. Severability. Sec. 1102. No additional funds authorized. TITLE I--IMPROVING FINANCIAL LITERACY SEC. 101. REFORMS TO HOUSING COUNSELING AND FINANCIAL LITERACY PROGRAMS. (a) In General.--Section 106 of the Housing and Urban Development Act of 1968 (12 U.S.C. 1701x) is amended-- (1) in subsection (a)(4)(C), by striking ``adequate distribution'' and all that follows through ``foreclosure rates'' and inserting ``that the recipients are geographically diverse and include organizations that serve urban or rural areas''; (2) in subsection (e), by adding at the end the following: ``(6) Performance review.--The Secretary shall conduct performance reviews of all participating agencies that-- ``(A) consist of a review of the participating agency's compliance with all program requirements; and ``(B) may take into account the agency's aggregate counselor performance under paragraph (8)(B). ``(7) Periodic reviews.--The Secretary may conduct periodic on-site reviews as the Secretary deems appropriate. ``(8) Considerations.-- ``(A) Covered mortgage loan defined.--In this paragraph, the term `covered mortgage loan' means any loan which is secured by a first or subordinate lien on residential real property (including individual units of condominiums and cooperatives) designed principally for the occupancy of between 1 and 4 families that is-- ``(i) insured by the Federal Housing Administration under title II of the National Housing Act (12 U.S.C. 1707 et seq.); or ``(ii) guaranteed under section 184 or 184A of the Housing and Community Development Act of 1992 (12 U.S.C. 1715z-13a, 1715z-13b). ``(B) Comparison.--For each counselor employed by an organization receiving assistance under this section for pre- purchase housing counseling, the Secretary may consider the performance of the counselor compared to the default rate of all counseled borrowers of a covered mortgage loan in comparable markets and such other factors as the Secretary determines appropriate to further the purposes of this section. ``(9) Certification.--If, based on the comparison required under paragraph (8)(B), the Secretary determines that a counselor lacks competence to provide counseling in the areas described in subsection (e)(2) and such action will not create a significant loss of capacity for housing counseling services in the service area, the Secretary may-- ``(A) require continued education coupled with successful completion of a probationary period; ``(B) require retesting if the counselor continues to demonstrate a lack of competence under paragraph (8)(B); and ``(C) permanently suspend an individual certification if a counselor fails to demonstrate competence after not fewer than 2 retesting opportunities under subparagraph (B).''; (3) in subsection (i)-- (A) by redesignating paragraph (3) as paragraph (4); and (B) by inserting after paragraph (2) the following: [[Page S807]] ``(3) Termination of assistance.-- ``(A) In general.--The Secretary may deny renewal of covered assistance to an organization or entity receiving covered assistance if the Secretary determines that the organization or entity, or the individual through which the organization or entity provides counseling, is not in compliance with program requirements-- ``(i) based on the performance review described in subsection (e)(6); and ``(ii) in accordance with regulations issued by the Secretary. ``(B) Notice.--The Secretary shall give an organization or entity receiving covered assistance not less than 60 days prior written notice of any denial of renewal under this paragraph, and the determination of renewal shall not be finalized until the end of that notice period. ``(C) Informal conference.--If requested in writing by the organization or entity within the notice period described in subparagraph (B), the organization or entity shall be entitled to an informal conference with the Deputy Assistant Secretary of Housing Counseling on behalf of the Secretary at which the organization or entity may present for consideration specific factors that the organization or entity believes were beyond the control of the organization or entity and that caused the failure to comply with program requirements, such as a lack of lender or servicer coordination or communication with housing counseling agencies and individual counselors.''; and (4) by adding at the end the following: ``(j) Offering Foreclosure Mitigation Counseling.-- ``(1) Covered mortgage loan defined.--In this subsection, the term `covered mortgage loan' means any loan which is secured by a first or subordinate lien on residential real property (including individual units of condominiums) or stock or membership in a cooperative ownership housing corporation designed principally for the occupancy of between 1 and 4 families that is-- ``(A) insured by the Federal Housing Administration under title II of the National Housing Act (12 U.S.C. 1707 et seq.); ``(B) guaranteed under section 184 or 184A of the Housing and Community Development Act of 1992 (12 U.S.C. 1715z-13a, 1715z-13b); ``(C) made, guaranteed, or insured by the Department of Veterans Affairs; or ``(D) made, guaranteed, or insured by the Department of Agriculture. ``(2) Opportunity for borrowers.--A borrower with respect to a covered mortgage loan who is 30 days or more delinquent on payments for the covered mortgage loan shall be given an opportunity to participate in available housing counseling. ``(3) Cost.--If the requirements of sections 202(a)(3) and 205(f) of the National Housing Act (12 U.S.C. 1708(a)(3), 1711(f)) are met, the fair market rate cost of counseling for delinquent borrowers described in paragraph (2) with respect to a covered mortgage loan described in paragraph (1)(A) shall be paid for by the Mutual Mortgage Insurance Fund, as authorized under section 203(r)(4) of the National Housing Act (12 U.S.C. 1709(r)(4)).''. TITLE II--BUILDING MORE IN AMERICA SEC. 201. RENTAL ASSISTANCE DEMONSTRATION PROGRAM. The language under the heading ``Rental Assistance Demonstration'' in the Department of Housing and Urban Development Appropriations Act, 2012 (Public Law 112-55; 125 Stat. 673) is amended-- (1) in the second proviso, by striking ``until September 30, 2029'' and inserting ``for fiscal year 2012 and each fiscal year thereafter''; (2) by striking the fourth proviso; (3) in the twentieth proviso, as so designated before the date of enactment of this Act, by striking ``or other means:'' and inserting ``or other means, including the adoption of a mandatory tenant lease and management plan addendum for a property with assistance converted, if not otherwise covered by another program, under t

Referenced legislation: SCONRES14