Summary

To authorize the use of multifamily housing subject to a mortgage insured under section 207 of the National Housing Act as work force residential housing. Read More

Status

This bill was introduced on Jan 25, 2012, in a previous session of Congress, but was not passed.

Bill Text

A BILL

To authorize the use of multifamily housing subject to a mortgage insured under section 207 of the National Housing Act as work force residential housing.

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 ``Work Force Housing Act of 2011''.

SEC. 2. WORK FORCE RESIDENTIAL HOUSING.

Section 513 of the National Housing Act (12 U.S.C. 1731b) is amended-- (1) in subsection (b)-- (A) in clause (1), by striking ``or'' at the end; and (B) by inserting before the period at the end the following: ``, or (3) the project is a work force residential housing property (as such term is defined in subsection (e) of this section) and is subject to a mortgage insured under section 207 (12 U.S.C. 1713)''; and (2) in subsection (e)-- (A) in clause (1), by striking ``and'' at the end; and (B) by inserting before the period at the end the following: ``, and (3) the term `work force residential housing property' means multifamily housing the dwelling units of which are rented for a minimum stay of seven days and that does not provide retail hotel amenities as defined by the Secretary''. <all>

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Bill Summary

To authorize the use of multifamily housing subject to a mortgage insured under section 207 of the National Housing Act as work force residential housing.

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