§4567. Affordable housing allocations — Inbound Citations
12 U.S.C. § 4567
Cited by 10 provisions in release 119-102.
Citations to 12 U.S.C. § 4567 as a whole
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(iii) each enterprise is complying with section 4567 of this title;
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(4) In determining whether an enterprise has complied with the duty referred to in paragraph (1), the Director may not consider any affordable housing fund grant amounts used under section 4567 of this title for eligible activities under subsection (g) of such section.
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(1) The Secretary of Housing and Urban Development (in this section referred to as the “Secretary”) shall establish and manage a Housing Trust Fund, which shall be funded with amounts allocated by the enterprises under section 4567 of this title and any amounts as are or may be appropriated, transferred, or credited to such Housing Trust Fund under any other provisions of law. The purpose of the Housing Trust Fund under this section is to provide grants to States (as such term is defined in section 4502 of this title) for use—(A) to increase and preserve the supply of rental housing for extremely low- and very low-income families, including homeless families; and(B) to increase homeownership for extremely low- and very low-income families.
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(1) any amounts transferred to the Fund pursuant to section 4567 of this title; and
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(2) The Director may not, pursuant to this section, enforce compliance with any housing goal established under subpart 2 of part B of subchapter I of this chapter, with section 4566 or 4567 of this title, with subsection (m) or (n) of section 1723a of this title, with subsection (e) or (f) of section 1456 of this title, or with paragraph (5) of section 1430(j) of this title.
Citations to §4567(a)
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(2) At the termination of the HOPE for Homeowners Program established under section 1715z–23 of this title, if amounts used to reimburse the Treasury under paragraph (1) exceed the total net cost to the Government of the HOPE for Homeowners Program, such amounts shall be used for their original purpose, as described in paragraphs (1)(B) and (2)(B) of section 4567(a) of this title.
Citations to §4567(a)(1)(B)
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(1) Notwithstanding subsection (c), to help address the mortgage crisis, of the amounts allocated pursuant to clauses (i) and (ii) of section 4567(a)(1)(B) of this title and clauses (i) and (ii) of section 4567(a)(2)(B) of this title in excess of amounts described in section 4567(e) of this title—(A) 100 percent of such excess shall be used to reimburse the Treasury for payments made pursuant to section 1715z–23(w)(1)(C) of this title in calendar year 2009;(B) 50 percent of such excess shall be used to reimburse the Treasury for such payments in calendar year 2010; and(C) 25 percent of such excess shall be used to reimburse the Treasury for such payments in calendar year 2011.
Citations to §4567(a)(2)(B)
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(1) Notwithstanding subsection (c), to help address the mortgage crisis, of the amounts allocated pursuant to clauses (i) and (ii) of section 4567(a)(1)(B) of this title and clauses (i) and (ii) of section 4567(a)(2)(B) of this title in excess of amounts described in section 4567(e) of this title—(A) 100 percent of such excess shall be used to reimburse the Treasury for payments made pursuant to section 1715z–23(w)(1)(C) of this title in calendar year 2009;(B) 50 percent of such excess shall be used to reimburse the Treasury for such payments in calendar year 2010; and(C) 25 percent of such excess shall be used to reimburse the Treasury for such payments in calendar year 2011.
Citations to §4567(e)
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(3) If the net cost to the Federal Government for the HOPE for Homeowners Program exceeds the amount of funds received under paragraph (2), remaining debts of the HOPE for Homeowners Program shall be paid from amounts deposited into the fund established by the Secretary under section 4567(e) of this title, remaining amounts in such fund to be used to reduce the National debt.
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(1) Notwithstanding subsection (c), to help address the mortgage crisis, of the amounts allocated pursuant to clauses (i) and (ii) of section 4567(a)(1)(B) of this title and clauses (i) and (ii) of section 4567(a)(2)(B) of this title in excess of amounts described in section 4567(e) of this title—(A) 100 percent of such excess shall be used to reimburse the Treasury for payments made pursuant to section 1715z–23(w)(1)(C) of this title in calendar year 2009;(B) 50 percent of such excess shall be used to reimburse the Treasury for such payments in calendar year 2010; and(C) 25 percent of such excess shall be used to reimburse the Treasury for such payments in calendar year 2011.