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HR 6027 IH

To provide highest preference in the use of foreclosed housing acquired using Federal loan or grant funds made available under the Neighborhood Stabilization Act of 2008 for providing housing for disabled veterans and to prohibit the purchase or lease of such housing by any individual convicted under Federal or State law of a drug-dealing offense, a sex offense, or mortgage fraud.

May 13, 2008

Mr. SHADEGG introduced the following bill; which was referred to the Committee on Financial Services

To provide highest preference in the use of foreclosed housing acquired using Federal loan or grant funds made available under the Neighborhood Stabilization Act of 2008 for providing housing for disabled veterans and to prohibit the purchase or lease of such housing by any individual convicted under Federal or State law of a drug-dealing offense, a sex offense, or mortgage fraud.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. RESIDENCY LIMITATIONS.

No individual may purchase or lease any housing acquired using Federal loan or grant funds made available for use under the Neighborhood Stabilization Act of 2008, or any dwelling unit in any such housing, if such individual has been convicted under Federal or State law of a drug-dealing offense, a sex offense, or mortgage fraud.

SEC. 2. HIGHEST PREFERENCE FOR DISABLED VETERANS.

Each State, metropolitan city, and urban county that is provided Federal loan or grant amounts made available for use under the Neighborhood Stabilization Act of 2008 shall, notwithstanding any other preferences required or authorized under such Act for use of such loan or grant amounts, provide highest priority in use of amounts from grants and loans under such Act for providing housing for disabled veterans.