HR 1623

112th CONGRESS
1st Session

H. R. 1623

To reauthorize the Assets for Independence Act, to provide for the approval of applications to operate new demonstration programs and to renew existing programs, to enhance program flexibility, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

April 15, 2011

Mr. LEWIS of Georgia (for himself, Mr. STARK, Ms. FUDGE, Mr. MCDERMOTT, Mr. ELLISON, Mr. CLEAVER, Ms. TSONGAS, Mr. GRIJALVA, Mrs. CHRISTENSEN, Mr. DAVIS of Illinois, Ms. NORTON, Mr. JOHNSON of Georgia, Mr. JACKSON of Illinois, Mr. COHEN, Mr. PAYNE, Ms. JACKSON LEE of Texas, Ms. MOORE, Mr. BRADY of Pennsylvania, Ms. LEE of California, Ms. BERKLEY, Mr. TOWNS, Mr. CLARKE of Michigan, Mr. CARSON of Indiana, Ms. BROWN of Florida, and Mr. SERRANO) introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To reauthorize the Assets for Independence Act, to provide for the approval of applications to operate new demonstration programs and to renew existing programs, to enhance program flexibility, and for other purposes.

SECTION 1. SHORT TITLE; REFERENCE; TABLE OF CONTENTS.

SEC. 2. FINDINGS.

SEC. 3. SENSE OF CONGRESS.

SEC. 4. DEFINITIONS.

`(aa) has no sole present ownership interest in a principal residence during the 3-year period ending on the date of acquisition of the principal residence to which this subparagraph applies (except for an interest in such principal residence); and

`(bb) has no co-ownership interest in a principal residence on the date of acquisition of the principal residence to which this subparagraph applies (except for an interest in such principal residence).';

SEC. 5. APPLICATIONS.

SEC. 6. DEMONSTRATION AUTHORITY; ANNUAL GRANTS.

SEC. 7. RESERVE FUND.

SEC. 8. ELIGIBILITY FOR PARTICIPATION.

SEC. 9. DEPOSITS BY QUALIFIED ENTITIES.

SEC. 10. REGULATIONS.

SEC. 11. ANNUAL PROGRESS REPORTS.

SEC. 12. SANCTIONS.

SEC. 13. EVALUATIONS.

SEC. 14. COSTS OF TRAINING QUALIFIED ENTITIES.

`SEC. 416. COSTS OF TRAINING QUALIFIED ENTITIES.

SEC. 15. WAIVER AUTHORITY.

`SEC. 417. WAIVER AUTHORITY.

SEC. 16. AUTHORIZATION OF APPROPRIATIONS.

SEC. 17. CONFORMING AMENDMENTS.

SEC. 18. GENERAL EFFECTIVE DATE.

END