One Hundred Eleventh Congress
of the
United States of America
AT THE FIRST SESSION
Begun and held at the City of Washington on Tuesday,
the sixth day of January, two thousand and nine
An Act
Making supplemental appropriations for job preservation and creation, infrastructure
investment, energy efficiency and science, assistance to the unemployed, and
State and local fiscal stabilization, for the fiscal year ending September 30,
2009, and for other purposes.
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘American Recovery and Reinvestment
Act of 2009’’.
SEC. 2. TABLE OF CONTENTS.
The table of contents for this Act is as follows:
DIVISION A—APPROPRIATIONS PROVISIONS
TITLE I—AGRICULTURE, RURAL DEVELOPMENT, FOOD AND DRUG ADMINISTRATION,
AND RELATED AGENCIES
TITLE II—COMMERCE, JUSTICE, SCIENCE, AND RELATED AGENCIES
TITLE III—DEPARTMENT OF DEFENSE
TITLE IV—ENERGY AND WATER DEVELOPMENT
TITLE V—FINANCIAL SERVICES AND GENERAL GOVERNMENT
TITLE VI—DEPARTMENT OF HOMELAND SECURITY
TITLE VII—INTERIOR, ENVIRONMENT, AND RELATED AGENCIES
TITLE VIII—DEPARTMENTS OF LABOR, HEALTH AND HUMAN SERVICES,
AND EDUCATION, AND RELATED AGENCIES
TITLE IX—LEGISLATIVE BRANCH
TITLE X—MILITARY CONSTRUCTION AND VETERANS AFFAIRS AND RELATED
AGENCIES
TITLE XI—STATE, FOREIGN OPERATIONS, AND RELATED PROGRAMS
TITLE XII—TRANSPORTATION, HOUSING AND URBAN DEVELOPMENT, AND
RELATED AGENCIES
TITLE XIII—HEALTH INFORMATION TECHNOLOGY
TITLE XIV—STATE FISCAL STABILIZATION FUND
TITLE XV—ACCOUNTABILITY AND TRANSPARENCY
TITLE XVI—GENERAL PROVISIONS—THIS ACT
DIVISION B—TAX, UNEMPLOYMENT, HEALTH, STATE FISCAL RELIEF, AND
OTHER PROVISIONS
TITLE I—TAX PROVISIONS
TITLE II—ASSISTANCE FOR UNEMPLOYED WORKERS AND STRUGGLING
FAMILIES
TITLE III—PREMIUM ASSISTANCE FOR COBRA BENEFITS
TITLE IV—MEDICARE AND MEDICAID HEALTH INFORMATION TECHNOLOGY;
MISCELLANEOUS MEDICARE PROVISIONS
TITLE V—STATE FISCAL RELIEF
TITLE VI—BROADBAND TECHNOLOGY OPPORTUNITIES PROGRAM
TITLE VII—LIMITS ON EXECUTIVE COMPENSATION
SEC. 3. PURPOSES AND PRINCIPLES.
(a) STATEMENT OF PURPOSES.—The purposes of this Act include
the following:
H. R. 1—2
(1) To preserve and create jobs and promote economic
recovery.
(2) To assist those most impacted by the recession.
(3) To provide investments needed to increase economic
efficiency by spurring technological advances in science and
health.
(4) To invest in transportation, environmental protection,
and other infrastructure that will provide long-term economic
benefits.
(5) To stabilize State and local government budgets, in
order to minimize and avoid reductions in essential services
and counterproductive state and local tax increases.
(b) GENERAL PRINCIPLES CONCERNING USE OF FUNDS.—The
President and the heads of Federal departments and agencies shall
manage and expend the funds made available in this Act so as
to achieve the purposes specified in subsection (a), including commencing
expenditures and activities as quickly as possible consistent
with prudent management.
SEC. 4. REFERENCES.
Except as expressly provided otherwise, any reference to ‘‘this
Act’’ contained in any division of this Act shall be treated as
referring only to the provisions of that division.
SEC. 5. EMERGENCY DESIGNATIONS.
(a) IN GENERAL.—Each amount in this Act is designated as
an emergency requirement and necessary to meet emergency needs
pursuant to section 204(a) of S. Con. Res. 21 (110th Congress)
and section 301(b)(2) of S. Con. Res. 70 (110th Congress), the
concurrent resolutions on the budget for fiscal years 2008 and
2009.
(b) PAY-AS-YOU-GO.—All applicable provisions in this Act are
designated as an emergency for purposes of pay-as-you-go principles.
DIVISION A—APPROPRIATIONS
PROVISIONS
That the following sums are appropriated, out of any money
in the Treasury not otherwise appropriated, for the fiscal year
ending September 30, 2009, and for other purposes, namely:
TITLE XII—TRANSPORTATION,
2 AND HOUSING AND URBAN
3 DEVELOPMENT
4 DEPARTMENT OF TRANSPORTATION
5 FEDERAL AVIATION ADMINISTRATION
6 GRANTS-IN-AID FOR AIRPORTS
7 For an additional amount for ‘‘Grants-in-Aid for Air8
ports’’, to enable the Secretary of Transportation to make
9 grants for discretionary projects as authorized by sub10
chapter I of chapter 471 and subchapter I of chapter 475
11 of title 49, United States Code, $3,000,000,000: Provided,
12 That such funds shall not be subject to apportionment for13
mulas, special apportionment categories, or minimum per14
centages under chapter 471: Provided further, That the
15 conditions, certifications, and assurances required for
16 grants under subchapter I of chapter 471 of such title
17 apply: Provided further, That for purposes of applying sec18
tion 1104 of this Act to this appropriation, the deadline
19 for grantees to enter into contracts or other binding com20
mitments to make use of not less than 50 percent of the
21 funds awarded shall be 120 days after award of the grant.
22 FEDERAL HIGHWAY ADMINISTRATION
23 HIGHWAY INFRASTRUCTURE INVESTMENT
24 For projects and activities eligible under section 133
25 of title 23, United States Code, section 144 of such title
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00214 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
215
House Approps Cmtte
1 (without regard to subsection (g)), and sections 103, 119,
2 134, 148, and 149 of such title, $30,000,000,000, of
3 which $300,000,000 shall be for Indian reservation roads
4 under section 204 of such title; $250,000,000 shall be for
5 park roads and parkways under section 204 of such title;
6 $20,000,000 shall be for highway surface transportation
7 and technology training under section 140(b) of such title;
8 and $20,000,000 shall be for disadvantaged business en9
terprises bonding assistance under section 332(e) of title
10 49, United States Code: Provided, That the amount set
11 aside from this appropriation pursuant to section 1106 of
12 this Act shall not be more than 0.2 percent of the funds
13 made available under this heading instead of the percent14
age specified in such section: Provided further, That, after
15 making the set-asides authorized by the previous provisos,
16 the funds made available under this heading shall be dis17
tributed among the States, and Puerto Rico, American
18 Samoa, Guam, the Virgin Islands, and the Commonwealth
19 of the Northern Mariana Islands, in the same ratio as the
20 obligation limitation for fiscal year 2008 was distributed
21 among the States in accordance with the formula specified
22 in section 120(a)(6) of division K of Public Law 110–161,
23 but, in the case of the Puerto Rico Highway Program and
24 the Territorial Highway Program, under section 120(a)(5)
25 of such division: Provided further, That 45 percent of the
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00215 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
216
House Approps Cmtte
1 funds distributed to a State under this heading shall be
2 suballocated within the State in the manner and for the
3 purposes described in section 133(d) of title 23, United
4 States Code, (without regard to the comparison to fiscal
5 year 2005 in paragraph (2)): Provided further, That in
6 selecting projects to be funded, recipients shall give pri7
ority to projects that can award contracts within 120 days
8 of enactment of this Act, are included in an approved
9 Statewide Transportation Improvement Program (STIP)
10 and/or Metropolitan Transportation Improvement Pro11
gram (TIP), are projected for completion within a three12
year time frame, and are located in economically dis13
tressed areas as defined by section 301 of the Public
14 Works and Economic Development Act of 1965, as
15 amended (42 U.S.C. 3161): Provided further, That funds
16 made available under this heading shall be administered
17 as if apportioned under chapter 1 of title 23, United
18 States Code, except for funds made available for Indian
19 reservation roads and park roads and parkways which
20 shall be administered in accordance with chapter 2 of title
21 23, United States Code: Provided further, That the Fed22
eral share payable on account of any project or activity
23 carried out with funds made available under this heading
24 shall, at the option of the recipient, be up to 100 percent
25 of the total cost thereof: Provided further, That funds
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00216 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
217
House Approps Cmtte
1 made available by this Act shall not be obligated for the
2 purposes authorized under section 115(b) of title 23,
3 United States Code: Provided further, That the provisions
4 of section 1101(b) of Public Law 109–59 shall apply to
5 funds made available under this heading: Provided further,
6 That, in lieu of the redistribution required by section
7 1104(b) of this Act, if less than 50 percent of the funds
8 made available to each State and territory under this
9 heading are obligated based on awarded contracts within
10 120 days after the date of distribution of those funds to
11 the States and territories, then the portion of the 50 per12
cent of the total funding distributed to the State or terri13
tory that has not been obligated based on awarded con14
tracts shall be redistributed, in the manner described in
15 section 120(c) of division K of Public Law 110–161, to
16 those States and territories that have obligated, based on
17 awarded contracts, at least 50 percent of the funds made
18 available under this heading and are able to obligate
19 amounts in addition to those previously distributed, except
20 that, for those funds suballocated within the State, if less
21 than 50 percent of the funds so suballocated within the
22 State are obligated, based on awarded contracts, within
23 90 days of suballocation, then the portion of the 50 per24
cent of funding so suballocated that has not been obli25
gated, based on awarded contracts, will be returned to the
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00217 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
218
House Approps Cmtte
1 State for use anywhere in the State prior to being redis2
tributed in accordance with the first part of this proviso:
3 Provided further, That, in lieu of the redistribution re4
quired by section 1104(b) of this Act, any funds made
5 available under this heading that are not obligated, based
6 on awarded contracts, by August 1, 2010, shall be redis7
tributed, in the manner described in section 120(c) of divi8
sion K of Public Law 110–161, to those States able to
9 obligate amounts in addition to those previously distrib10
uted, except that funds suballocated within the State that
11 are not obligated, based on awarded contracts, by July 1,
12 2010, will be returned to the State for use anywhere in
13 the State prior to being redistributed in accordance with
14 the first part of this proviso: Provided further, That not15
withstanding section 1103 of this Act, funds made avail16
able under this heading shall be apportioned not later than
17 7 days after the date of enactment of this Act.
18 FEDERAL RAILROAD ADMINISTRATION
19 CAPITAL ASSISTANCE FOR INTERCITY PASSENGER RAIL
20 SERVICE
21 For an additional amount for ‘‘Capital Assistance for
22 Intercity Passenger Rail Service’’ to enable the Secretary
23 of Transportation to make grants for capital costs as au24
thorized by chapter 244 of title 49 United States Code,
25 $300,000,000: Provided, That notwithstanding section
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00218 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
219
House Approps Cmtte
1 1103 of this Act, the Secretary shall give preference to
2 projects for the repair, rehabilitation, upgrade, or pur3
chase of railroad assets or infrastructure that can be
4 awarded within 180 days of enactment of this Act: Pro5
vided further, That in awarding grants for the acquisition
6 of a piece of rolling stock or locomotive, the Secretary shall
7 give preference to FRA-compliant rolling stock and loco8
motives: Provided further, That the Secretary shall give
9 preference to projects that support the development of
10 intercity high speed rail service: Provided further, That the
11 Federal share shall be, at the option of the recipient, up
12 to 100 percent.
13 CAPITAL AND DEBT SERVICE GRANTS TO THE NATIONAL
14 RAILROAD PASSENGER CORPORATION
15 For an additional amount for ‘‘Capital and Debt
16 Service Grants to the National Railroad Passenger Cor17
poration’’ (Amtrak) to enable the Secretary of Transpor18
tation to make capital grants to Amtrak as authorized by
19 section 101(c) of the Passenger Rail Investment and Im20
provement Act of 2008 (Public Law 110–432),
21 $800,000,000: Provided, That priority shall be given to
22 projects for the repair, rehabilitation, or upgrade of rail23
road assets or infrastructure: Provided further, That none
24 of the funds under this heading shall be used to subsidize
25 the operating losses of Amtrak: Provided further, Notwith-
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00219 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
220
House Approps Cmtte
1 standing section 1103 of this Act, funds made available
2 under this heading shall be awarded not later than 7 days
3 after the date of enactment of this Act.
4 FEDERAL TRANSIT ADMINISTRATION
5 TRANSIT CAPITAL ASSISTANCE
6 For transit capital assistance grants,
7 $6,000,000,000, of which $5,400,000,000 shall be for
8 grants under section 5307 of title 49, United States Code
9 and shall be apportioned in accordance with section 5336
10 of such title (other than subsections (i)(1) and (j)) but
11 may not be combined or commingled with any other funds
12 apportioned under such section 5336, and of which
13 $600,000,000 shall be for grants under section 5311 of
14 such title and shall be apportioned in accordance with such
15 section 5311 but may not be combined or commingled with
16 any other funds apportioned under that section: Provided,
17 That of the funds provided for section 5311 under this
18 heading, 3 percent shall be made available for section
19 5311(c)(1): Provided further, That applicable chapter 53
20 requirements shall apply except that the Federal share of
21 the costs for which a grant is made under this heading
22 shall be, at the option of the recipient, up to 100 percent:
23 Provided further, In lieu of the requirements of section
24 1103 of this Act, funds made available under this heading
25 shall be apportioned not later than 7 days after the date
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00220 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
221
House Approps Cmtte
1 of enactment of this Act: Provided further, That for pur2
poses of applying section 1104 of this Act to this appro3
priation, the deadline for grantees to enter into contracts
4 or other binding commitments to make use of not less
5 than 50 percent of the funds awarded shall be 120 days
6 after apportionment: Provided further, That the provisions
7 of section 1101(b) of Public Law 109–59 shall apply to
8 funds made available under this heading: Provided further,
9 That notwithstanding any other provision of law, of the
10 funds apportioned in accordance with section 5336, up to
11 three-quarters of 1 percent shall be available for adminis12
trative expenses and program management oversight and
13 of the funds apportioned in accordance with section 5311,
14 up to one-half of 1 percent shall be available for adminis15
trative expenses and program management oversight and
16 both amounts shall remain available for obligation until
17 September 30, 2012: Provided further, That the preceding
18 proviso shall apply in lieu of the provisions in section 1106
19 of this Act.
20 FIXED GUIDEWAY INFRASTRUCTURE INVESTMENT
21 For an amount for capital expenditures authorized
22 under section 5309(b)(2) of title 49, United States Code,
23 $2,000,000,000: Provided, That the Secretary of Trans24
portation shall apportion funds under this heading pursu25
ant to the formula set forth in section 5337 of title 49,
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00221 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
222
House Approps Cmtte
1 United States Code: Provided further, That the funds ap2
propriated under this heading shall not be commingled
3 with funds available under the Formula and Bus Grants
4 account: Provided further, In lieu of the requirements of
5 section 1103 of this Act, funds made available under this
6 heading shall be apportioned not later than 7 days after
7 the date of enactment of this Act: Provided further, That
8 for purposes of applying section 1104 of this Act to this
9 appropriation, the deadline for grantees to enter into con10
tracts or other binding commitments to make use of not
11 less than 50 percent of the funds awarded shall be 120
12 days after apportionment: Provided further, That applica13
ble chapter 53 requirements shall apply except that the
14 Federal share of the costs for which a grant is made under
15 this heading shall be, at the option of the recipient, up
16 to 100 percent: Provided further, That the provisions of
17 section 1101(b) of Public Law 109–59 shall apply to funds
18 made available under this heading: Provided further, That
19 notwithstanding any other provision of law, up to 1 per20
cent of the funds under this heading shall be available for
21 administrative expenses and program management over22
sight and shall remain available for obligation until Sep23
tember 30, 2012: Provided further, That the preceding
24 proviso shall apply in lieu of the provisions in section 1106
25 of this Act.
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00222 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
223
House Approps Cmtte
1 CAPITAL INVESTMENT GRANTS
2 For an additional amount for ‘‘Capital Investment
3 Grants’’, as authorized under section 5338(c)(4) of title
4 49, United States Code, and allocated under section
5 5309(m)(2)(A) of such title, to enable the Secretary of
6 Transportation to make discretionary grants as authorized
7 by section 5309(d) and (e) of such title, $1,000,000,000:
8 Provided, That such amount shall be allocated without re9
gard to the limitation under section 5309(m)(2)(A)(i):
10 Provided further, That in selecting projects to be funded,
11 priority shall be given to projects that are currently in con12
struction or are able to award contracts based on bids
13 within 120 days of enactment of this Act: Provided further,
14 That for purposes of applying section 1104 of this Act
15 to this appropriation, the deadline for grantees to enter
16 into contracts or other binding commitments to make use
17 of not less than 50 percent of the funds awarded shall
18 be 120 days after award: Provided further, That the provi19
sions of section 1101(b) of Public Law 109–59 shall apply
20 to funds made available under this heading: Provided fur21
ther, That applicable chapter 53 requirements shall apply,
22 except that notwithstanding any other provision of law,
23 up to 1 percent of the funds under this heading shall be
24 available for administrative expenses and program man25
agement oversight and shall remain available for obliga-
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00223 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
224
House Approps Cmtte
1 tion until September 30, 2012: Provided further, That the
2 preceding proviso shall apply in lieu of the provisions in
3 section 1106 of this Act.
4 DEPARTMENT OF HOUSING AND URBAN
5 DEVELOPMENT
6 PUBLIC AND INDIAN HOUSING
7 PUBLIC HOUSING CAPITAL FUND
8 For an additional amount for ‘‘Public Housing Cap9
ital Fund’’ to carry out capital and management activities
10 for public housing agencies, as authorized under section
11 9 of the United States Housing Act of 1937 (42 U.S.C.
12 1437g) (‘‘the Act’’), $5,000,000,000: Provided, That the
13 Secretary of Housing and Urban Development shall dis14
tribute at least $4,000,000,000 of this amount by the
15 same formula used for amounts made available in fiscal
16 year 2008: Provided further, That public housing authori17
ties shall give priority to capital projects that can award
18 contracts based on bids within 120 days from the date
19 the funds are made available to the public housing au20
thorities: Provided further, That public housing agencies
21 shall give priority consideration to the rehabilitation of va22
cant rental units: Provided further, That notwithstanding
23 any other provision of the Act or regulations, (1) funding
24 provided herein may not be used for Operating Fund ac25
tivities pursuant to section 9(g) of the Act, and (2) any
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00224 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
225
House Approps Cmtte
1 restriction of funding to replacement housing uses shall
2 be inapplicable: Provided further, That public housing
3 agencies shall prioritize capital projects underway or al4
ready in their 5-year plans: Provided further, That of the
5 amount provided under this heading, the Secretary may
6 obligate up to $1,000,000,000, for competitive grants to
7 public housing authorities for activities including: (1) in8
vestments that leverage private sector funding or financ9
ing for housing renovations and energy conservation ret10
rofit investments; (2) rehabilitation of units using sustain11
able materials and methods that improve energy efficiency,
12 reduce energy costs, or preserve and improve units with
13 good access to public transportation or employment cen14
ters; (3) increase the availability of affordable rental hous15
ing by expediting rehabilitation projects to bring vacant
16 units into use or by filling the capital investment gap for
17 redevelopment or replacement housing projects which have
18 been approved or are otherwise ready to proceed but are
19 stalled due to the inability to obtain anticipated private
20 capital; or (4) address the needs of seniors and persons
21 with disabilities through improvements to housing and re22
lated facilities which attract or promote the coordinated
23 delivery of supportive services: Provided further, That the
24 Secretary may waive statutory or regulatory provisions re25
lated to the obligation and expenditure of capital funds
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00225 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
226
House Approps Cmtte
1 if necessary to facilitate the timely expenditure of funds
2 (except for requirements related to fair housing, non3
discrimination, labor standards, and the environment).
4 ELDERLY, DISABLED, AND SECTION 8 ASSISTED HOUSING
5 ENERGY RETROFIT
6 For grants or loans to owners of properties receiving
7 project-based assistance pursuant to section 202 of the
8 Housing Act of 1959 (12 U.S.C. 17012), section 811 of
9 the Cranston-Gonzalez National Affordable Housing Act
10 (42 U.S.C. 8013), or section 8 of the United States Hous11
ing Act of 1937 (42 U.S.C. 1437f), to accomplish energy
12 retrofit investments, $2,500,000,000: Provided, That such
13 loans or grants shall be provided through the Office of
14 Affordable Housing Preservation of the Department of
15 Housing and Urban Development, on such terms and con16
ditions as the Secretary of Housing and Urban Develop17
ment deems appropriate: Provided further, That eligible
18 owners must have at least a satisfactory management re19
view rating, be in substantial compliance with applicable
20 performance standards and legal requirements, and com21
mit to an additional period of affordability determined by
22 the Secretary: Provided further, That the Secretary shall
23 undertake appropriate underwriting and oversight with re24
spect to such transactions: Provided further, That the Sec25
retary may set aside funds made available under this
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00226 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
227
House Approps Cmtte
1 heading for an efficiency incentive payable upon satisfac2
tory completion of energy retrofit investments, and may
3 provide additional incentives if such investments resulted
4 in extraordinary job creation for low-income and very low5
income persons: Provided further, that of the funds pro6
vided under this heading, 1 percent shall be available only
7 for staffing, training, technical assistance, technology,
8 monitoring, research and evaluation activities.
9 NATIVE AMERICAN HOUSING BLOCK GRANTS
10 For an additional amount for ‘‘Native American
11 Housing Block Grants’’, as authorized under title I of the
12 Native American Housing Assistance and Self-Determina13
tion Act of 1996 (‘‘NAHASDA’’) (25 U.S.C. 4111 et
14 seq.), $500,000,000: Provided, That $250,000,000 of the
15 amount appropriated under this heading shall be distrib16
uted according to the same funding formula used in fiscal
17 year 2008: Provided further, That in selecting projects to
18 be funded, recipients shall give priority to projects that
19 can award contracts based on bids within 120 days from
20 the date that funds are available to the recipients: Pro21
vided further, That in allocating the funds appropriated
22 under this heading, the Secretary of Housing and Urban
23 Development shall not require an additional action plan
24 from grantees: Provided further, That the Secretary may
25 obligate $250,000,000 of the amount appropriated under
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00227 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
228
House Approps Cmtte
1 this heading for competitive grants to eligible entities that
2 apply for funds as authorized under NAHASDA: Provided
3 further, That in awarding competitive funds, the Secretary
4 shall give priority to projects that will spur construction
5 and rehabilitation and will create employment opportuni6
ties for low-income and unemployed persons.
7 COMMUNITY PLANNING AND DEVELOPMENT
8 COMMUNITY DEVELOPMENT FUND
9 For an additional amount for ‘‘Community Develop10
ment Fund’’ $1,000,000,000, to carry out the community
11 development block grant program under title I of the
12 Housing and Community Development Act of 1974 (42
13 U.S.C. 5301 et seq.): Provided, That the amount appro14
priated in this paragraph shall be distributed according
15 to the same funding formula used in fiscal year 2008: Pro16
vided further, That in allocating the funds appropriated
17 in this paragraph, the Secretary of Housing and Urban
18 Development shall not require an additional action plan
19 from grantees: Provided further, That in selecting projects
20 to be funded, recipients shall give priority to projects that
21 can award contracts based on bids within 120 days from
22 the date the funds are made available to the recipients;
23 Provided further, That in administering funds provided in
24 this paragraph, the Secretary may waive any provision of
25 any statute or regulation that the Secretary administers
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00228 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
229
House Approps Cmtte
1 in connection with the obligation by the Secretary or the
2 use by the recipient of these funds (except for require3
ments related to fair housing, nondiscrimination, labor
4 standards, and the environment), upon a finding that such
5 waiver is required to facilitate the timely use of such funds
6 and would not be inconsistent with the overall purpose of
7 the statute.
8 For a further additional amount for ‘‘Community De9
velopment Fund’’, $4,190,000,000, to be used for neigh10
borhood stabilization activities related to emergency as11
sistance for the redevelopment of abandoned and fore12
closed homes as authorized under division B, title III of
13 the Housing and Economic Recovery Act of 2008 (Public
14 Law 110–289), of which—
15 (1) not less than $3,440,000,000 shall be allo16
cated by a competition for which eligible entities
17 shall be States, units of general local government,
18 and nonprofit entities or consortia of nonprofit enti19
ties: Provided, That the award criteria for such com20
petition shall include grantee capacity, leveraging
21 potential, targeted impact of foreclosure prevention,
22 and any additional factors determined by the Sec23
retary of Housing and Urban Development: Provided
24 further, that the Secretary may establish a minimum
25 grant size: Provided further, That amounts made
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00229 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
230
House Approps Cmtte
1 available under this Section may be used to (A) es2
tablish financing mechanisms for purchase and rede3
velopment of foreclosed-upon homes and residential
4 properties, including such mechanisms as soft-sec5
onds, loan loss reserves, and shared-equity loans for
6 low- and moderate-income homebuyers; (B) purchase
7 and rehabilitate homes and residential properties
8 that have been abandoned or foreclosed upon, in
9 order to sell or rent such homes and properties; (C)
10 establish and operate land banks for homes that
11 have been foreclosed upon; (D) demolish foreclosed
12 properties that have become blighted structures; and
13 (E) redevelop demolished or vacant foreclosed prop14
erties in order to sell or rent such properties; and
15 (2) up to $750,000,000 shall be awarded by
16 competition to nonprofit entities or consortia of non17
profit entities to provide community stabilization as18
sistance by (A) accelerating state and local govern19
ment and nonprofit productivity; (B) increasing the
20 scale and efficiency of property transfers of fore21
closed and vacant residential properties from finan22
cial institutions and government entities to qualified
23 local housing providers in order to return the prop24
erties to productive affordable housing use; (C)
25 building industry and property management capac-
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00230 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
231
House Approps Cmtte
1 ity; and (D) partnering with private sector real es2
tate developers and contractors and leveraging pri3
vate sector capital: Provided further, That such com4
munity stabilization assistance shall be provided pri5
marily in States and areas with high rates of de6
faults and foreclosures to support the acquisition, re7
habilitation and property management of single-fam8
ily and multi-family homes and to work in partner9
ship with the private sector real estate industry and
10 to leverage available private and public funds for
11 those purposes: Provided further, That for purposes
12 of this paragraph qualified local housing providers
13 shall be nonprofit organizations with demonstrated
14 capabilities in real estate development or acquisition
15 and rehabilitation or property management of single16
or multi-family homes, or local or state governments
17 or instrumentalities of such governments: Provided
18 further, That qualified local housing providers shall
19 be expected to utilize and leverage additional local
20 nonprofit, governmental, for-profit and private re21
sources:
22 Provided further, That in the case of any foreclosure on
23 any dwelling or residential real property acquired with any
24 amounts made available under this heading, any successor
25 in interest in such property pursuant to the foreclosure
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00231 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
232
House Approps Cmtte
1 shall assume such interest subject to—(1) the provision
2 by such successor in interest of a notice to vacate to any
3 bona fide tenant at least 90 days before the effective date
4 of such notice; and (2) the rights of any bona fide tenant,
5 as of the date of such notice of foreclosure (A) under any
6 bona fide lease entered into before the notice of foreclosure
7 to occupy the premises until the end of the remaining term
8 of the lease, except that a successor in interest may termi9
nate a lease effective on the date of sale of the unit to
10 a purchaser who will occupy the unit as a primary resi11
dence, subject to the receipt by the tenant of the 90-day
12 notice under this paragraph; or (B) without a lease or with
13 a lease terminable at will under State law, subject to the
14 receipt by the tenant of the 90-day notice under this para15
graph, except that nothing in this paragraph shall affect
16 the requirements for termination of any Federal- or State17
subsidized tenancy or of any State or local law that pro18
vides longer time periods or other additional protections
19 for tenants: Provided further, That, for purposes of this
20 paragraph, a lease or tenancy shall be considered bona fide
21 only if (1) the mortgagor under the contract is not the
22 tenant; (2) the lease or tenancy was the result of an arms23
length transaction; and (3) the lease or tenancy requires
24 the receipt of rent that is not substantially less than fair
25 market rent for the property: Provided further, That the
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00232 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
233
House Approps Cmtte
1 recipient of any grant or loan from amounts made avail2
able under this heading may not refuse to lease a dwelling
3 unit in housing assisted with such loan or grant to a hold4
er of a voucher or certificate of eligibility under section
5 8 of the United States Housing Act of 1937 (42 U.S.C.
6 1437f) because of the status of the prospective tenant as
7 such a holder: Provided further, That in the case of any
8 qualified foreclosed housing for which funds made avail9
able under this heading are used and in which a recipient
10 of assistance under section 8(o) of the U.S. Housing Act
11 of 1937 resides at the time of acquisition or financing,
12 the owner and any successor in interest shall be subject
13 to the lease and to the housing assistance payments con14
tract for the occupied unit: Provided further, That
15 vacating the property prior to sale shall not constitute
16 good cause for termination of the tenancy unless the prop17
erty is unmarketable while occupied or unless the owner
18 or subsequent purchaser desires the unit for personal or
19 family use: Provided further, That this paragraph shall not
20 preempt any State or local law that provides more protec21
tion for tenants: Provided further, That amounts made
22 available under this heading may be used for the costs
23 of demolishing foreclosed housing that is deteriorated or
24 unsafe: Provided further, That the amount for demolition
25 of such housing may not exceed 10 percent of amounts
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00233 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
234
House Approps Cmtte
1 allocated under this paragraph to States and units of gen2
eral local government: Provided further, That no amounts
3 from a grant made under this paragraph may be used to
4 demolish any public housing (as such term is defined in
5 section 3 of the United States Housing Act of 1937 (42
6 U.S.C. 1437a)): Provided further, That section 2301(d)(4)
7 of the Housing and Economic Recovery Act of 2008 (Pub8
lic Law 110–289) is repealed.
9 HOME INVESTMENT PARTNERSHIPS PROGRAM
10 For an additional amount for ‘‘HOME Investment
11 Partnerships Program’’ as authorized under Title II of the
12 Cranston-Gonzalez National Affordable Housing Act (‘‘the
13 Act’’), $1,500,000,000: Provided, That the amount appro14
priated under this heading shall be distributed according
15 to the same funding formula used in fiscal year 2008: Pro16
vided further, That the Secretary of Housing and Urban
17 Development may waive statutory or regulatory provisions
18 related to the obligation of such funds if necessary to fa19
cilitate the timely expenditure of funds (except for require20
ments related to fair housing, nondiscrimination, labor
21 standards, and the environment): Provided further, That
22 in selecting projects to be funded, recipients shall give pri23
ority to projects that can award contracts based on bids
24 within 120 days from the date that funds are available
25 to the recipients.
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00234 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
235
House Approps Cmtte
1 SELF-HELP AND ASSISTED HOMEOWNERSHIP
2 OPPORTUNITY PROGRAM
3 For an additional amount for ‘‘Self-Help and As4
sisted Homeownership Opportunity Program’’, as author5
ized under section 11 of the Housing Opportunity Pro6
gram Extension Act of 1996, $10,000,000: Provided, That
7 in awarding competitive grant funds, the Secretary of
8 Housing and Urban Development shall give priority to the
9 provision and rehabilitation of sustainable, affordable sin10
gle and multifamily units in low-income, high-need rural
11 areas: Provided further, That in selecting projects to be
12 funded, grantees shall give priority to projects that can
13 award contracts based on bids within 120 days from the
14 date the funds are made available to the grantee.
15 HOMELESS ASSISTANCE GRANTS
16 For an additional amount for ‘‘Homeless Assistance
17 Grants’’, for the emergency shelter grants program as au18
thorized under subtitle B of tile IV of the McKinney-Vento
19 Homeless Assistance Act, $1,500,000,000: Provided, That
20 in addition to homeless prevention activities specified in
21 the emergency shelter grant program, funds provided
22 under this heading may be used for the provision of short23
term or medium-term rental assistance; housing relocation
24 and stabilization services including housing search, medi25
ation or outreach to property owners, legal services, credit
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00235 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
236
House Approps Cmtte
1 repair, resolution of security or utility deposits, utility pay2
ments, rental assistance for a final month at a location,
3 and moving costs assistance; or other appropriate home4
lessness prevention activities; Provided further, That these
5 funds shall be allocated pursuant to the formula author6
ized by section 413 of such Act: Provided further, That
7 the Secretary of Housing and Urban Development may
8 waive statutory or regulatory provisions related to the obli9
gation and use of emergency shelter grant funds necessary
10 to facilitate the timely expenditure of funds.
11 OFFICE OF HEALTHY HOMES AND LEAD HAZARD
12 CONTROL
13 LEAD HAZARD REDUCTION
14 For an additional amount for ‘‘Lead Hazard Reduc15
tion’’, for the Lead Hazard Reduction Program as author16
ized by section 1011 of the Residential Lead-Based Paint
17 Hazard Reduction Act of 1992, $100,000,000: Provided,
18 That for purposes of environmental review, pursuant to
19 the National Environmental Policy Act of 1969 (42 U.S.C.
20 4321 et seq.) and other provisions of law that further the
21 purposes of such Act, a grant under the Healthy Homes
22 Initiative, Operation Lead Elimination Action Plan
23 (LEAP), or the Lead Technical Studies program under
24 this heading or under prior appropriations Acts for such
25 purposes under this heading, shall be considered to be
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00236 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
237
House Approps Cmtte
1 funds for a special project for purposes of section 305(e)
2 of the Multifamily Housing Property Disposition Reform
3 Act of 1994: Provided further, That of the total amount
4 made available under this heading, $30,000,000 shall be
5 made available on a competitive basis for areas with the
6 highest lead paint abatement needs.
7 GENERAL PROVISIONS, THIS TITLE
8 SEC. 12001. MAINTENANCE OF EFFORT AND REPORTING
9 REQUIREMENTS TO ENSURE TRANSPARENCY
10 AND ACCOUNTABILITY.
11 (a) MAINTENANCE OF EFFORT.—Not later than 30
12 days after the date of enactment of this Act, for each
13 amount that is distributed to a State or agency thereof
14 from an appropriation in this Act for a covered program,
15 the Governor of the State shall certify that the State will
16 maintain its effort with regard to State funding for the
17 types of projects that are funded by the appropriation. As
18 part of this certification, the Governor shall submit to the
19 covered agency a statement identifying the amount of
20 funds the State planned to expend as of the date of enact21
ment of this Act from non-Federal sources in the period
22 beginning on the date of enactment of this Act through
23 September 30, 2010, for the types of projects that are
24 funded by the appropriation.
25 (b) PERIODIC REPORTS.—
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00237 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
238
House Approps Cmtte
1 (1) IN GENERAL.—Notwithstanding any other
2 provision of law, each grant recipient shall submit to
3 the covered agency from which they received funding
4 periodic reports on the use of the funds appropriated
5 in this Act for covered programs. Such reports shall
6 be collected and compiled by the covered agency and
7 transmitted to Congress.
8 (2) CONTENTS OF REPORTS.—For amounts re9
ceived under each covered program by a grant re10
cipient under this Act, the grant recipient shall in11
clude in the periodic reports information tracking—
12 (A) the amount of Federal funds appro13
priated, allocated, obligated, and outlayed under
14 the appropriation;
15 (B) the number of projects that have been
16 put out to bid under the appropriation and the
17 amount of Federal funds associated with such
18 projects;
19 (C) the number of projects for which con20
tracts have been awarded under the appropria21
tion and the amount of Federal funds associ22
ated with such contracts;
23 (D) the number of projects for which work
24 has begun under such contracts and the
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00238 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
239
House Approps Cmtte
1 amount of Federal funds associated with such
2 contracts;
3 (E) the number of projects for which work
4 has been completed under such contracts and
5 the amount of Federal funds associated with
6 such contracts;
7 (F) the number of jobs created or sus8
tained by the Federal funds provided for
9 projects under the appropriation, including in10
formation on job sectors and pay levels; and
11 (G) for each covered program report infor12
mation tracking the actual aggregate expendi13
tures by each grant recipient from non-Federal
14 sources for projects eligible for funding under
15 the program during the period beginning on the
16 date of enactment of this Act through Sep17
tember 30, 2010, as compared to the level of
18 such expenditures that were planned to occur
19 during such period as of the date of enactment
20 of this Act.
21 (3) TIMING OF REPORTS.—Each grant recipient
22 shall submit the first of the periodic reports required
23 under this subsection not later than 30 days after
24 the date of enactment of this Act and shall submit
25 updated reports not later than 60 days, 120 days,
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00239 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
240
House Approps Cmtte
1 180 days, 1 year, and 3 years after such date of en2
actment.
3 (c) DEFINITIONS.—In this section, the following defi4
nitions apply:
5 (1) COVERED AGENCY.—The term ‘‘covered
6 agency’’ means the Federal Aviation Administration,
7 the Federal Highway Administration, the Federal
8 Railroad Administration, and the Federal Transit
9 Administration of the Department of Transpor10
tation.
11 (2) COVERED PROGRAM.—The term ‘‘covered
12 program’’ means funds appropriated in this Act for
13 ‘‘Grants-in-Aid for Airports’’ to the Federal Aviation
14 Administration; for ‘‘Highway Infrastructure Invest15
ment’’ to the Federal Highway Administration; for
16 ‘‘Capital Assistance for Intercity Passenger Rail
17 Service’’ to the Federal Railroad Administration; for
18 ‘‘Transit Capital Assistance’’, ‘‘Fixed Guideway In19
frastructure Investment’’, and ‘‘Capital Investment
20 Grants’’ to the Federal Transit Administration.
21 (3) GRANT RECIPIENT.—The term ‘‘grant re22
cipient’’ means a State or other recipient of assist23
ance provided under a covered program in this Act.
24 Such term does not include a Federal department or
25 agency.
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00240 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
241
House Approps Cmtte
1 SEC. 12002. FHA LOAN LIMITS FOR 2009.
2 (a) LOAN LIMIT FLOOR BASED ON 2008 LEVELS.—
3 For mortgages for which the mortgagee issues credit ap4
proval for the borrower during calendar year 2009, if the
5 dollar amount limitation on the principal obligation of a
6 mortgage determined under section 203(b)(2) of the Na7
tional Housing Act (12 U.S.C. 1709(b)(2)) for any size
8 residence for any area is less than such dollar amount lim9
itation that was in effect for such size residence for such
10 area for 2008 pursuant to section 202 of the Economic
11 Stimulus Act of 2008 (Public Law 110-185; 122 Stat.
12 620), notwithstanding any other provision of law, the max13
imum dollar amount limitation on the principal obligation
14 of a mortgage for such size residence for such area for
15 purposes of such section 203(b)(2) shall be considered (ex16
cept for purposes of section 255(g) of such Act (12 U.S.C.
17 1715z–20(g))) to be such dollar amount limitation in ef18
fect for such size residence for such area for 2008.
19 (b) DISCRETIONARY AUTHORITY FOR SUB-AREAS.—
20 Notwithstanding any other provision of law, if the Sec21
retary of Housing and Urban Development determines, for
22 any geographic area that is smaller than an area for which
23 dollar amount limitations on the principal obligation of a
24 mortgage are determined under section 203(b)(2) of the
25 National Housing Act, that a higher such maximum dollar
26 amount limitation is warranted for any particular size or
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00241 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
242
House Approps Cmtte
1 sizes of residences in such sub-area by higher median
2 home prices in such sub-area, the Secretary may, for mort3
gages for which the mortgagee issues credit approval for
4 the borrower during calendar year 2009, increase the max5
imum dollar amount limitation for such size or sizes of
6 residences for such sub-area that is otherwise in effect (in7
cluding pursuant to subsection (a) of this section), but in
8 no case to an amount that exceeds the amount specified
9 in section 202(a)(2) of the Economic Stimulus Act of
10 2008.
11 SEC. 12003. GSE CONFORMING LOAN LIMITS FOR 2009.
12 (a) LOAN LIMIT FLOOR BASED ON 2008 LEVELS.—
13 For mortgages originated during calendar year 2009, if
14 the limitation on the maximum original principal obliga15
tion of a mortgage that may purchased by the Federal
16 National Mortgage Association or the Federal Home Loan
17 Mortgage Corporation determined under section 302(b)(2)
18 of the Federal National Mortgage Association Charter Act
19 (12 U.S.C. 1717(b)(2)) or section 305(a)(2) of the Fed20
eral Home Loan Mortgage Corporation Act (12 U.S.C.
21 1754(a)(2)), respectively, for any size residence for any
22 area is less than such maximum original principal obliga23
tion limitation that was in effect for such size residence
24 for such area for 2008 pursuant to section 201 of the Eco25
nomic Stimulus Act of 2008 (Public Law 110-185; 122
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00242 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
243
House Approps Cmtte
1 Stat. 619), notwithstanding any other provision of law, the
2 limitation on the maximum original principal obligation of
3 a mortgage for such Association and Corporation for such
4 size residence for such area shall be such maximum limita5
tion in effect for such size residence for such area for
6 2008.
7 (b) DISCRETIONARY AUTHORITY FOR SUB-AREAS.—
8 Notwithstanding any other provision of law, if the Direc9
tor of the Federal Housing Finance Agency determines,
10 for any geographic area that is smaller than an area for
11 which limitations on the maximum original principal obli12
gation of a mortgage are determined for the Federal Na13
tional Mortgage Association or the Federal Home Loan
14 Mortgage Corporation, that a higher such maximum origi15
nal principal obligation limitation is warranted for any
16 particular size or sizes of residences in such sub-area by
17 higher median home prices in such sub-area, the Director
18 may, for mortgages originated during 2009, increase the
19 maximum original principal obligation limitation for such
20 size or sizes of residences for such sub-area that is other21
wise in effect (including pursuant to subsection (a) of this
22 section) for such Association and Corporation, but in no
23 case to an amount that exceeds the amount specified in
24 the matter following the comma in section 201(a)(1)(B)
25 of the Economic Stimulus Act of 2008.
VerDate 0ct 09 2002 04:02 Jan 15, 2009 Jkt 000000 PO 00000 Frm 00243 Fmt 6652 Sfmt 6201 C:\TEMP\ECREC05.XML DAVD
January 15, 2009 (4:02 a.m.)
H:\FY 2009 ECON RECOVERY\ECREC05.XML
l:\VA\011509\A011509.004.xml
244
House Approps Cmtte
1 SEC. 12004. FHA REVERSE MORTGAGE LOAN LIMITS FOR
2 2009.
3 For mortgages for which the mortgagee issues credit
4 approval for the borrower during calendar year 2009, the
5 second sentence of section 255(g) of the National Housing
6 Act (12 U.S.C. 171520(g)) shall be considered to require
7 that in no case may the benefits of insurance under such
8 section 255 exceed 150 percent of the maximum dollar
9 amount in effect under the sixth sentence of section
10 305(a)(2) of the Federal Home Loan Mortgage Corpora11
tion Act (12 U.S.C. 1454(a)(2)).
File Type | application/msword |
File Title | TITLE XII—TRANSPORTATION, |
Author | frauser1 |
Last Modified By | frauser1 |
File Modified | 2009-06-11 |
File Created | 2009-06-11 |