Text of Senate Amendment 4359

Text of Senate Amendment 4359

Congressional Record, Volume 172 Issue 42 (Thursday, March 5, 2026) [Congressional Record Volume 172, Number 42 (Thursday, March 5, 2026)] [Senate] [Page S897] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 4359. Ms. HIRONO submitted an amendment intended to be proposed by her to the bill H.R. 6644, a bill to increase the supply of housing in America, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. ___. NOTICE OF ADMINISTRATIVE CHANGES TO SECTION 502 DIRECT LOAN PROGRAM. (a) In General.--Section 502(a) of the Housing Act of 1949 (42 U.S.C. 1472(a)) is amended-- (1) by redesignating paragraph (3) as paragraph (4); and (2) by inserting after paragraph (2) the following: ``(3) Before implementing any change to a regulation, handbook, or procedure related to the administration of loans made under this section, the Secretary shall-- ``(A) publish the proposed change for comment by the public; and ``(B) inform the Committee on Appropriations of the Senate, the Committee on Banking, Housing, and Urban Affairs of the Senate, the Committee on Appropriations of the House of Representatives, and the Committee on Financial Services of the House of Representatives of the proposed change.''. (b) Effective Date.-- (1) Applicability.--The amendment made by subsection (a) shall apply to any change to a regulation, handbook, or procedure made on or after February 10, 2026. (2) Repeal of recent changes.--In the case of any change to a regulation, handbook, or procedure related to the administration of loans made under section 502 of the Housing Act of 1949 (42 U.S.C. 1472) that the Secretary of Agriculture implemented during the period beginning on February 10, 2026 and ending on the day before the date of enactment of this Act without first taking the actions required under paragraph (3) of subsection (a) of that section, as added by subsection (a) of this section, the Secretary-- (A) shall repeal the change; and (B) may not reimplement the change unless the Secretary has complied with such paragraph (3). (c) Sunset.--Effective on February 10, 2027, section 502(a) of the Housing Act of 1949 (42 U.S.C. 1472(a)) is amended-- (1) by striking paragraph (3) (as added by this section); and (2) by redesignating paragraph (4) (as so redesignated by this section) as paragraph (3). ______