H. R. 836
IN THE SENATE OF THE UNITED STATES
March 14, 2011
Received; read twice and referred to the Committee
on Banking, Housing, and Urban Affairs
To rescind the unobligated funding for the Emergency Mortgage Relief
Program and to terminate the program.
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 `Emergency Mortgage Relief Program Termination
SEC. 2. RESCISSION OF FUNDING FOR EMERGENCY MORTGAGE RELIEF PROGRAM.
Effective on the date of the enactment of this Act, there are rescinded and
permanently canceled all unobligated balances remaining available as of such
date of enactment of the amounts made available by section 1496(a) of the
Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203;
124 Stat. 2207; 12 U.S.C. 2706 note). All such unobligated balances so rescinded
and permanently canceled shall be retained in the general fund of the Treasury
for reducing the debt of the Federal Government.
SEC. 3. TERMINATION OF EMERGENCY MORTGAGE RELIEF PROGRAM.
(a) Repeal- Title I of the Emergency Housing Act of 1975 (12 U.S.C. 2701 et
seq.), as amended by section 1496(b) of the Dodd-Frank Wall Street Reform
and Consumer Protection Act, is hereby repealed.
(b) Treatment of Remaining Funds- Notwithstanding the repeal under subsection
(a) of this section, any amounts made available under the provision specified
in section 2 of this Act and obligated before the date of the enactment of
this Act shall continue to be governed by the provisions of law specified
in subsection (a) of this section, as in effect immediately before such repeal.
(c) Termination- Upon the completion of outlays to liquidate all amounts referred
to in subsection (b) of this section and the completion of all activities
with respect to such amounts under the provisions of law specified in subsection
(a) of this section, the Secretary of Housing and Urban Development shall
terminate the Emergency Mortgage Relief Program authorized under the provisions
specified in subsection (a).
(d) Study of Use of Program by Members of the Armed Forces, Veterans, Gold
Star Recipients, and Members and Veterans With Service-connected Disabilities
and Their Families-
(1) STUDY- The Secretary of Housing and Urban Development shall conduct
a study to determine the extent of usage of the Emergency Mortgage Relief
Program authorized under the provisions specified in subsection (a) by,
and the impact of such program on, covered homeowners.
(2) REPORT- Not later than the expiration of the 90-day period beginning
on the date of the enactment of this Act, the Secretary shall submit to
the Congress a report setting forth the results of the study under paragraph
(1) and identifying best practices, with respect to covered homeowners,
that could be applied to the Emergency Mortgage Relief Program.
(3) COVERED HOMEOWNER- For purposes of this subsection, the term `covered
homeowner' means a homeowner who is--
(A) a member of the Armed Forces of the United States on active duty or
the spouse or parent of such a member;
(B) a veteran, as such term is defined in section 101 of title 38, United
(C) eligible to receive a Gold Star lapel pin under section 1126 of title
10, United States Code, as a widow, parent, or next of kin of a member
of the Armed Forces person who died in a manner described in subsection
(a) of such section; or
(D) such members and veterans of the Armed Forces who have service-connected
injuries, and survivors and dependents of such
members and veterans of the Armed Forces with such injuries.
Passed the House of Representatives March 11, 2011.
KAREN L. HAAS,