To require a housing impact analysis of any new rule of a Federal agency that has an economic impact of $100,000,000 or more.

February 12, 2003

Mr. GREEN of Wisconsin (for himself, Mr. JONES of North Carolina, Mr. SOUDER, and Mr. TERRY) introduced the following bill; which was referred to the Committee on the Judiciary

To require a housing impact analysis of any new rule of a Federal agency that has an economic impact of $100,000,000 or more.

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 `Housing Affordability Assurance Act'.

SEC. 2. HOUSING IMPACT ANALYSIS.

(a) APPLICABILITY- Except as provided in subsection (b), the requirements of this section shall apply with respect to--

(1) any proposed rule, unless the agency promulgating the rule--

(A) has certified that the proposed rule will not, if given force or effect as a final rule, have a significant deleterious impact on housing affordability; and

(B) has caused such certification to be published in the Federal Register at the time of publication of general notice of proposed rulemaking for the rule, together with a statement providing the factual basis for the certification; and

(2) any final rule, unless the agency promulgating the rule--

(A) has certified that the rule will not, if given force or effect, have a significant deleterious impact on housing affordability; and

(B) has caused such certification to be published in the Federal Register at the time of publication of the final rule, together with a statement providing the factual basis for the certification.

Any agency making a certification under this subsection shall provide a copy of such certification and the statement providing the factual basis for the certification to the Secretary of Housing and Urban Development.

(b) EXCEPTION FOR CERTAIN BANKING RULES- The requirements of this section shall not apply to any proposed or final rule relating to--

(1) the operations, safety, or soundness of--

(A) federally insured depository institutions or any affiliate of such an institution (as such term is defined in section 2(k) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(k));

(B) credit unions;

(C) the Federal home loan banks;

(D) the enterprises (as such term is defined in section 1303 of the Housing and Community Development Act of 1992 (12 U.S.C. 4502);

(E) a Farm Credit System institution; or

(F) foreign banks or their branches, agencies, commercial lending companies, or representative offices that operate in the United States, or any affiliate of a foreign bank (as such terms are defined in section 1 of the International Banking Act of 1978 (12 U.S.C. 3101); or

(2) the payments system or the protection of deposit insurance funds or the Farm Credit Insurance Fund.

(c) STATEMENT OF PROPOSED RULEMAKING- Whenever an agency publishes general notice of proposed rulemaking for any proposed rule, unless the agency has made a certification under subsection (a), the agency shall--

(1) in the notice of proposed rulemaking--

(A) state with particularity the text of the proposed rule; and

(B) request any interested persons to submit to the agency any written analyses, data, views, and arguments, and any specific alternatives to the proposed rule;

(2) provide an opportunity for interested persons to take the actions specified under paragraph (1)(B) before promulgation of the final rule; and

(3) prepare and make available for public comment an initial housing impact analysis in accordance with the requirements of subsection (d).

(d) INITIAL HOUSING IMPACT ANALYSIS-

(1) REQUIREMENTS- Each initial housing impact analysis shall describe the impact of the proposed rule on housing affordability. The initial housing impact analysis or a summary shall be published in the Federal Register at the same time as, and together with, the publication of general notice of proposed rulemaking for the rule. The agency shall transmit a copy of the initial housing impact analysis to the Secretary of Housing and Urban Development.

(2) CONTENTS- Each initial housing impact analysis required under this subsection shall contain--

(A) a description of the reasons why action by the agency is being considered;

(B) a succinct statement of the objectives of, and legal basis for, the proposed rule;

(C) a description of and, where feasible, an estimate of the extent to which the proposed rule would increase the cost or reduce the supply of housing or land for residential development; and

(D) an identification, to the extent practicable, of all relevant Federal rules which may duplicate, overlap, or conflict with the proposed rule.

(e) FINAL HOUSING IMPACT ANALYSIS-

(1) REQUIREMENT- Whenever an agency promulgates a final rule after publication of a general notice of proposed rulemaking, unless the agency has made the certification under subsection (a), the agency shall prepare a final housing impact analysis.

(2) CONTENTS- Each final housing impact analysis shall contain--

(A) a succinct statement of the need for, and objectives of, the rule;

(B) a summary of the significant issues, analyses, and alternatives to the proposed rule raised during the public comment period in response to the proposed rule and initial housing impact analysis, a summary of the assessment of the agency of such issues, analyses, and alternatives, and a statement of any changes made in the proposed rule as a result of such comments; and

(C) a description of and an estimate of the extent to which the rule will impact housing affordability or an explanation of why no such estimate is available.

(3) AVAILABILITY- The agency shall make copies of the final housing impact analysis available to members of the public and shall publish in the Federal Register such analysis or a summary thereof.

(f) AVOIDANCE OF DUPLICATIVE OR UNNECESSARY ANALYSES-

(1) DUPLICATION- Any Federal agency may perform the analyses required by subsections (d) and (e) in conjunction with or as a part of any other agenda or analysis required by any other law, executive order, directive, or rule if such other analysis satisfies the provisions of such subsections.

(2) JOINDER- In order to avoid duplicative action, an agency may consider a series of closely related rules as one rule for the purposes of subsections (d) and (e).

(g) PREPARATION OF ANALYSES- In complying with the provisions of subsections (d) and (e), an agency may provide either a quantifiable or numerical description of the effects of a proposed rule or alternatives to the proposed rule, or more general descriptive statements if quantification is not practicable or reliable.

(h) EFFECT ON OTHER LAW- The requirements of subsections (d) and (e) do not alter in any manner standards otherwise applicable by law to agency action.

(i) PROCEDURE FOR WAIVER OR DELAY OF COMPLETION-

(1) INITIAL HOUSING IMPACT ANALYSIS- An agency head may waive or delay the completion of some or all of the requirements of subsection (d) by publishing in the Federal Register, not later than the date of publication of the final rule, a written finding, with reasons therefor, that the final rule is being promulgated in response to an emergency that makes compliance or timely compliance with the provisions of subsection (a) impracticable.

(2) FINAL HOUSING IMPACT ANALYSIS- An agency head may not waive the requirements of subsection (e). An agency head may delay the completion of the requirements of subsection (e) for a period of not more than 180 days after the date of publication in the Federal Register of a final rule by publishing in the Federal Register, not later than such date of publication, a written finding, with reasons therefor, that the final rule is being promulgated in response to an emergency that makes timely compliance with the provisions of subsection (e) impracticable. If the agency has not prepared a final housing impact analysis pursuant to subsection (e) within 180 days from the date of publication of the final rule, such rule shall lapse and have no force or effect. Such rule shall not be repromulgated until a final housing impact analysis has been completed by the agency.

(j) DEFINITIONS- For purposes of this section, the following definitions shall apply:

(1) HOUSING AFFORDABILITY- The term `housing affordability' means the quantity of housing that is affordable to families having incomes that do not exceed 150 percent of the median income of families in the area in which the housing is located, with adjustments for smaller and larger families. For purposes of this paragraph, area, median family income for an area, and adjustments for family size shall be determined in the same manner as such factors are determined for purposes of section 3(b)(2) of the United States Housing Act of 1937.

(2) AGENCY- The term `agency' means each authority of the Government of the United States, whether or not it is within or subject to review by another agency, but does not include--

(A) the Congress;

(B) the courts of the United States;

(C) the governments of the territories or possessions of the United States;

(D) the government of the District of Columbia;

(E) agencies composed of representatives of the parties or of representatives of organizations of the parties to the disputes determined by them;

(F) courts-martial and military commissions;

(G) military authority exercised in the field in time of war or in occupied territory; or

(H) functions conferred by--

(i) sections 1738, 1739, 1743, and 1744 of title 12, United States Code;

(ii) chapter 2 of title 41, United States Code;

(iii) subchapter II of chapter 471 of title 49, United States Code; or

(iv) sections 1884, 1891-1902, and former section 1641(b)(2), of title 50, appendix, United States Code.

(3) FAMILIES- The term `families' has the meaning given such term in section 3 of the United States Housing Act of 1937.

(4) RULE- The term `rule' means any rule for which the agency publishes a general notice of proposed rulemaking pursuant to section 553(b) of title 5, United States Code, or any other law, including any rule of general applicability governing grants by an agency to State and local governments for which the agency provides an opportunity for notice and public comment; except that such term does not include a rule of particular applicability relating to rates, wages, corporate or financial structures or reorganizations thereof, prices, facilities, appliances, services, or allowances therefor or to valuations, costs or accounting, or practices relating to such rates, wages, structures, prices, appliances, services, or allowances.

(5) SIGNIFICANT- The term `significant' means increasing consumers' cost of housing by more than $100,000,000 per year.

(k) DEVELOPMENT- Not later than 1 year after the date of the enactment of this Act, the Secretary of Housing and Urban Development shall develop model initial and final housing impact analyses under this section and shall cause such model analyses to be published in the Federal Register. The model analyses shall define the primary elements of a housing impact analysis to instruct other agencies on how to carry out and develop the analyses required under subsections (d) and (e).

(l) JUDICIAL REVIEW-

(1) DETERMINATION BY AGENCY- Except as otherwise provided in paragraph (2), any determination by an agency concerning the applicability of any of the provisions of this Act to any action of the agency shall not be subject to judicial review.

(2) OTHER ACTIONS BY AGENCY- Any housing impact analysis prepared under subsection (d) or (e) and the compliance or noncompliance of the agency with the provisions of this Act shall not be subject to judicial review. When an action for judicial review of a rule is instituted, any housing impact analysis for such rule shall constitute part of the whole record of agency action in connection with the review.

(3) EXCEPTION- Nothing in this subsection bars judicial review of any other impact statement or similar analysis required by any other law if judicial review of such statement or analysis is otherwise provided by law.

END