To collect more than $500,000,000 from developers for failed, botched, and abandoned projects.

SA 795. Mr. COBURN submitted an amendment intended to be proposed by
him to the bill H.R. 2112, making appropriations for Agriculture, Rural
Development, Food and Drug Administration, and Related Agencies
programs for the fiscal year ending September 30, 2012, and for other
purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:
Sec. __.  The Secretary of Housing and Urban Development--
(1) shall cancel any funding obligated for a construction
or renovation project for which the Department of Housing and
Urban Development committed to provide $50,000 or more that--
(A) commenced before the date that is 5 years before the
date of enactment of this Act;
(B) is not complete;
(C) did not draw funds against a Department of Housing and
Urban Development account during the 18-month period ending
on the date of enactment of this Act;
(D) on the date of enactment of this Act, is vacant and has
not been sold or leased; or
(E) has not drawn funds against a Department of Housing and
Urban Development account, if, on the date of enactment of
this Act, funds have been obligated for the project for more
than 1 year;
(2) may not provide any funding on or after the date of
enactment of this Act for a project described in paragraph
(1); and
(3) shall transfer any funds deobligated under paragraph
(1) or made available to carry out a project described in
paragraph (1) to the general fund of the Treasury and are
hereby rescinded.
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