← Back to H.R. 5072
H.Amdt. 687House111th Congress (2009-2011)

An amendment numbered 8 printed in House Report 111-503 to increase loan limits for the construction or rehabilitation of multifamily housing with elevators including rentals, cooperatives, condominiums to ensure that they represent today's construction costs. Would create an `extremely high cost area' category for FHA Multifamily Insurance for those areas, similar to those in Alaska, Guam, Hawaii, and the Virgin Islands.

What it does: 6 changes: adds a section, inserts text in 5 places
Sponsored by Anthony D. WeinerRep. Anthony D. Weiner (D-NY)
Submitted June 10, 2010

Description

Amendment increases loan limits for the construction or rehabilitation of multifamily housing with elevators including rentals, cooperatives and condominiums to ensure that they represent current construction costs; and creates an "extremely high cost area" category for FHA Multifamily Insurance similar to those in Alaska, Guam, Hawaii, and the Virgin Islands.

What it changes

6 changes to H.R. 5072 · 1 shown in the bill's text

Adds a sectionInserts text in 5 places

We couldn't read part of this amendment. That part is shown as written below.

  1. Change 1: Adds SEC. 16. MAXIMUM MORTGAGE AMOUNT LIMITS FOR MULTIFAMILY HOUSING at the end of the bill

    Adds a section

    In H.R. 5072 · Referred in Senate

    Passed the House of Representatives June 10, 2010.

    Inserted: SEC. 16. MAXIMUM MORTGAGE AMOUNT LIMITS FOR MULTIFAMILY HOUSING.

    Inserted: (a) Elevator-type Structures.--

    Inserted: (1) Amendments.--The National Housing Act is amended in each of the provisions specified in paragraph (2)--

    Inserted: (A) by inserting "with sound standards of construction and design" after "elevator-type structures" the first place such term appears; and

    Inserted: (B) by striking "to not to exceed" and all that follows through "sound standards of construction and design" each place such terms appear and inserting "by not more than 50 percent of the amounts specified for each unit size".

    Inserted: (2) Provisions amended.--The provisions of the National Housing Act specified in this paragraph are as follows:

    Inserted: (A) Subparagraph (A) of section 207(c)(3) (12 U.S.C. 1713(c)(3)(A)).

    Inserted: (B) Subparagraph (A) of section 213(b)(2) (12 U.S.C. 1715e(b)(2)(A)).

    Inserted: (C) Subclause (I) of section 220(d)(3)(B)(iii) (12 U.S.C. 1715k(d)(3)(B)(iii)(I)).

    Original wording

    At the end of the bill, add the following new section:

  2. Change 2: Inserts “, or with respect to projects consisting of more than four dwelling units located in an e…” after “or the Virgin Islands”

    InsertsWherever the words appear

    …or the Virgin Islands[inserted: , or with respect to projects consisting of more than four dwelling units located in an extremely high-cost area as determined by the Secretary]…

    Original wording

    (A) by inserting “, or with respect to projects consisting of more than four dwelling units located in an extremely high-cost area as determined by the Secretary” after “or the Virgin Islands”

  3. Change 3: Inserts “, or to construct projects consisting of more than four dwelling units on property locate…” after “or the Virgin Islands”

    InsertsWherever the words appear

    …or the Virgin Islands[inserted: , or to construct projects consisting of more than four dwelling units on property located in an extremely high-cost area as determined by the Secretary]…

    Original wording

    (B) by inserting “, or to construct projects consisting of more than four dwelling units on property located in an extremely high-cost area as determined by the Secretary” after “or the Virgin Islands”

  4. Change 4: Inserts “, or with respect to projects consisting of more than four dwelling units located in an e…” after “or the Virgin Islands”

    InsertsWherever the words appear

    …or the Virgin Islands[inserted: , or with respect to projects consisting of more than four dwelling units located in an extremely high-cost area as determined by the Secretary]…

    Original wording

    (C) by inserting “, or with respect to projects consisting of more than four dwelling units located in an extremely high-cost area as determined by the Secretary” after “or the Virgin Islands”

  5. Change 5: Inserts “, or with respect to a project consisting of more than four dwelling units located in an…” after “or the Virgin Islands”

    InsertsWherever the words appear

    …or the Virgin Islands[inserted: , or with respect to a project consisting of more than four dwelling units located in an extremely high-cost area as determined by the Secretary,]…

    Original wording

    (A) by inserting “, or with respect to a project consisting of more than four dwelling units located in an extremely high-cost area as determined by the Secretary,” after “or the Virgin Islands”

  6. Change 6: Inserts “, or in the case of a project consisting of more than four dwelling units in an extremely…” after “or the Virgin Islands”

    InsertsWherever the words appear

    …or the Virgin Islands[inserted: , or in the case of a project consisting of more than four dwelling units in an extremely high-cost area as determined by the Secretary, in such extremely high-cost area,]…

    Original wording

    (B) by inserting “, or in the case of a project consisting of more than four dwelling units in an extremely high-cost area as determined by the Secretary, in such extremely high-cost area,” after “or the Virgin Islands”

Shown as written

(D) In section 221(d) (12 U.S.C. 1715l(d))--(i) subclause (I) of paragraph (3)(ii); and (ii) subclause (I) of paragraph (4)(ii). (E) Subparagraph (A) of section 231(c)(2) (12 U.S.C. 1715v(c)(2)(A)). (F) Subparagraph (A) of section 234(e)(3) (12 U.S.C. 1715y(e)(3)(A)). (b) Extremely High-cost Areas.--Section 214 of the National Housing Act (12 U.S.C. 1715d) is amended--

(1) in the first sentence--

the first place such term appears;

the second place such term appears; and

the third place such term appears;

(2) in the second sentence--

the first place such term appears; and

the second place such term appears; and

(3) in the section heading, by striking “and the virgin islands” and inserting “the virgin islands, and extremely high-cost areas”.

Read automatically from the Congressional Record. Check the original before relying on it.

As printed

At the end of the bill, add the following new section:

SEC. 16. MAXIMUM MORTGAGE AMOUNT LIMITS FOR MULTIFAMILY HOUSING.

(a) Elevator-type Structures.--

(1) Amendments.--The National Housing Act is amended in each of the provisions specified in paragraph (2)--

(A) by inserting “with sound standards of construction and design” after “elevator-type structures” the first place such term appears; and

(B) by striking “to not to exceed” and all that follows through “sound standards of construction and design” each place such terms appear and inserting “by not more than 50 percent of the amounts specified for each unit size”.

(2) Provisions amended.--The provisions of the National Housing Act specified in this paragraph are as follows:

(A) Subparagraph (A) of section 207(c)(3) (12 U.S.C. 1713(c)(3)(A)).

(B) Subparagraph (A) of section 213(b)(2) (12 U.S.C. 1715e(b)(2)(A)).

(C) Subclause (I) of section 220(d)(3)(B)(iii) (12 U.S.C. 1715k(d)(3)(B)(iii)(I)).

(D) In section 221(d) (12 U.S.C. 1715l(d))--

(i) subclause (I) of paragraph (3)(ii); and

(ii) subclause (I) of paragraph (4)(ii).

(E) Subparagraph (A) of section 231(c)(2) (12 U.S.C. 1715v(c)(2)(A)).

(F) Subparagraph (A) of section 234(e)(3) (12 U.S.C. 1715y(e)(3)(A)).

(b) Extremely High-cost Areas.--Section 214 of the National Housing Act (12 U.S.C. 1715d) is amended--

(1) in the first sentence--

(A) by inserting “, or with respect to projects consisting of more than four dwelling units located in an extremely high-cost area as determined by the Secretary” after “or the Virgin Islands” the first place such term appears;

(B) by inserting “, or to construct projects consisting of more than four dwelling units on property located in an extremely high-cost area as determined by the Secretary” after “or the Virgin Islands” the second place such term appears; and

(C) by inserting “, or with respect to projects consisting of more than four dwelling units located in an extremely high-cost area as determined by the Secretary” after “or the Virgin Islands” the third place such term appears;

(2) in the second sentence--

(A) by inserting “, or with respect to a project consisting of more than four dwelling units located in an extremely high-cost area as determined by the Secretary,” after “or the Virgin Islands” the first place such term appears; and

(B) by inserting “, or in the case of a project consisting of more than four dwelling units in an extremely high-cost area as determined by the Secretary, in such extremely high-cost area,” after “or the Virgin Islands” the second place such term appears; and

(3) in the section heading, by striking “and the virgin islands” and inserting “the virgin islands, and extremely high-cost areas”.

(c) Effective Date.--The amendments made by this section shall apply to mortgages insured under title II of the National Housing Act after September 30, 2010.

Congressional RecordPDF

Legislative Activity

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5 earlier actions
Floor Latest Action

House amendment offered

June 10, 2010

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Floor

House amendment offered

June 10, 2010

Floor

House amendment agreed to: On agreeing to the Weiner amendment (A008) Agreed to by voice vote.

June 10, 2010 • 12:30 PM

Not Used

House amendment offered/reported by : Amendment (A008) offered by Mr. Weiner.(consideration: CR H4353-4355; text: CR H4354)

June 10, 2010 • 12:24 PM

Not Used

Amendment agreed to Committee of the Whole

June 10, 2010 • 12:30 PM

Floor

Amendment (A008) offered by Mr. Weiner. (consideration: CR H4353-4355; text: CR H4354)

June 10, 2010 • 12:24 PM

Floor

On agreeing to the Weiner amendment (A008) Agreed to by voice vote.

June 10, 2010 • 12:30 PM