1. Short title
This Act may be cited as the “Ensuring Proper Community Investments Act of 2013”.
Ensuring Proper Community Investments Act of 2013
A BILL
To prohibit the sale or trade to another community of community development block grant award amounts.
2. Prohibition on sale or trade of Community Development Block Grant awards
Prohibition— Section 105 of the Housing and Community Development Act of 1974 (42 U.S.C. 5305) is amended by adding at the end the following new subsection:
“(i) Prohibition on sale or trade of awards—A metropolitan city, urban county, unit of general local government, or Indian tribe, or insular area that receives a grant of amounts under this title from the Secretary or through a State allocation pursuant to section 106(d) may not sell, trade, or otherwise transfer all or any portion of such amounts to or for any other metropolitan city, urban county, unit of general local government, Indian tribe or insular area.”
Regulations— The Secretary of Housing and Urban Development shall issue any regulations necessary to carry out section 105(i) of the Housing and Community Development Act of 1974, as added by the amendment made by subsection (a) of this section, not later than the expiration of the 90-day period beginning on the date of the enactment of this Act.