Home > 106th Congressional Bills > H.R. 2658 (ih) To provide that the Commissioner of Food and Drugs shall by regulation require over the counter drug sunscreen products to include an expiration date and storage recommendations on their label. [Introduced in House] ...H.R. 2658 (ih) To provide that the Commissioner of Food and Drugs shall by regulation require over the counter drug sunscreen products to include an expiration date and storage recommendations on their label. [Introduced in House] ...
106th CONGRESS
1st Session
H. R. 2657
To amend section 204 of the National Housing Act to make HUD-owned
single family properties available at a discount to individuals who
teach in inner city schools.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 30, 1999
Mr. Crowley (for himself, Mr. Frost, Mr. Towns, Mr. Meeks of New York,
Mr. Hilliard, Ms. Lee, and Mr. Ackerman) introduced the following bill;
which was referred to the Committee on Banking and Financial Services
_______________________________________________________________________
A BILL
To amend section 204 of the National Housing Act to make HUD-owned
single family properties available at a discount to individuals who
teach in inner city schools.
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 ``Teacher Next Door Act''.
SEC. 2. CONGRESSIONAL FINDINGS.
The Congress finds that--
(1) urban and inner city school districts have greater
difficulty attracting and retaining qualified teachers than
their suburban counterparts; and
(2) the cost of property is higher in urban areas and inner
cities that in suburban areas.
SEC. 3. TEACHER NEXT DOOR PROGRAM.
Section 204 of the National Housing Act (12 U.S.C. 1710) is amended
by inserting after subsection (j) the following new subsection:
``(k) Disposition of Assets Under Teacher Next Door Program.--
``(1) In general.--The Secretary may sell eligible
properties (as such term is defined in paragraph (9)) at a
discount to teachers, as provided under this subsection. In the
case of eligible properties under paragraph (9)(B)(i), the
provisions of subsection (h) shall apply to such properties,
except to the extent specifically provided otherwise in this
subsection.
``(2) Primary residence.--An eligible property may be sold
pursuant to a discount under paragraph (3) only if the property
is used, for not less than the 3-year period beginning upon
such sale, as the primary residence of a teacher. The Secretary
shall ensure compliance with this paragraph through inclusion
of appropriate deed restrictions.
``(3) Discount.--If an eligible property is sold to a
teacher for use in accordance with paragraph (2), the sale
price shall be equal to 50 percent of the appraised value of
the eligible property (as determined in accordance with the
procedure under subsection (h)(6)(B)). In the case of an
eligible property under paragraph (9)(B)(i) that is eligible
for both a discount under this paragraph and a discount under
subsection (h)(6), the discount under subsection (h)(6) shall
not apply.
``(4) Sale methods.--The Secretary may sell an eligible
property pursuant to a discount under this subsection--
``(A) to a unit of general local government or
nonprofit organization, for resale or transfer to a
teacher; or
``(B) directly (or through a real estate broker) to
a purchaser who is a teacher.
``(5) Resale.--In the case of any purchase by a unit of
general local government or nonprofit organization of an
eligible property sold at a discounted price under this
subsection, the sale agreement shall--
``(A) require the purchasing unit of general local
government or nonprofit organization to provide the
full benefit of the discount to the teacher obtaining
the property; and
``(B) in the case of a purchase involving multiple
properties, any of which is such an eligible property,
designate the specific eligible property or properties
to be subject to the requirements of paragraph (2).
``(6) Mortgage downpayment assistance.--If a teacher
purchases an eligible property pursuant to a discounted sale
price under this paragraph and finances such purchase through a
mortgage insured under this title, notwithstanding any
provision of section 203 the downpayment on such mortgage shall
be $100.
``(7) Prevention of undue profit.--The Secretary shall
issue regulations to prevent undue profit from the resale of
eligible properties in violation of the requirement under
paragraph (2).
``(8) Awareness program.--The Secretary shall provide for
field offices of the Department to take appropriate actions
necessary to inform elementary schools and secondary schools
within the jurisdiction of the field office and the public of
the program under this subsection and of the properties located
within the jurisdiction of the field office that are available
for purchase by teachers under this subsection.
``(9) Definitions.--For the purposes of this paragraph, the
following definitions shall apply:
``(A) The terms `elementary school' and `secondary
school' have the meaning given such terms in section
14101 of the Elementary and Secondary Education Act of
1965 (20 U.S.C. 8801).
``(B) The term `eligible property' means--
``(i) an eligible asset described in
subsection (h)(2)(A); or
``(ii) a property that is--
``(I) designed as a dwelling for
occupancy for 1 to 4 families;
``(II) was previously subject to a
mortgage insured under the provisions
of this Act;
``(III) is owned by the Secretary
pursuant to the payment of insurance
benefits under this Act; and
``(IV) is located in an area that
is not a revitalization area designated
under subsection (h)(3), but is an area
that the Secretary determines is
appropriate for participation in the
program under this subsection because
of a need for economic development, the
incidence in transactions involving
properties in such area of seller
concessions (such as take-back
financing), a high rate of property
ownership by investor-owners, or such
other factors as the Secretary
considers appropriate.
``(C) The term `teacher' means an individual who is
employed on a full-time basis as a teacher in an
elementary or secondary school.
``(10) Effective date.--This subsection shall apply
beginning on January 1, 2001.''.
SEC. 4. REGULATIONS.
Not later than 90 days after the date of the enactment of this Act,
the Secretary shall issue regulations to implement section 204(k) of
the National Housing Act (12 U.S.C. 1710(k)), as added by the amendment
made by section 3 of this Act.
<all>
Pages: 1 Other Popular 106th Congressional Bills Documents:
|
| GovRecords.org presents information on various agencies of the United States Government. Even though all information is believed to be credible and accurate, no guarantees are made on the complete accuracy of our government records archive. Care should be taken to verify the information presented by responsible parties. Please see our reference page for congressional, presidential, and judicial branch contact information. GovRecords.org values visitor privacy. Please see the privacy page for more information. |
 |