(June 27, 1934, ch. 847, title II, § 228, as added Pub. L. 110–289, div. B, title VIII, § 2834(c),July 30, 2008, 122 Stat. 2870.)
A prior section
, which was based in part on act Aug. 2, 1954, ch. 649, title VIII, § 814,68 Stat. 647
, provided for the keeping of records with respect to multifamily housing and examination and audit thereof. Section 814 of act Aug. 2, 1954, was transferred and is classified in full to section
, The Public Health and Welfare.
Approvals by Department of Housing and Urban Development
Pub. L. 110–289
, div. B, title VIII, § 2832,July 30, 2008, 122 Stat. 2867
, provided that:
“(a) Administrative and Procedural Changes.—
“(1) In general.—The Secretary of Housing and Urban Development (in this section referred to as the ‘Secretary’) shall, not later than the expiration of the 6-month period beginning upon after [sic] the date of the enactment of this Act [July 30, 2008], implement administrative and procedural changes to expedite approval of multifamily housing projects under the jurisdiction of the Department of Housing and Urban Development that meet the requirements of the Secretary for such approvals.
“(2) Projects.—The multifamily housing projects referred to in paragraph (1) shall include—
“(A) projects for which assistance is provided by such Department in conjunction with any low-income housing tax credits under section 42 of the Internal Revenue Code of 1986 [26
] or tax-exempt housing bonds; and
“(B) existing public housing projects and assisted housing projects, for which approval of the Secretary is necessary for transactions, in conjunction with any such low-income housing tax credits or tax-exempt housing bonds, involving the preservation or rehabilitation of the project.
“(3) Changes.—The administrative and procedural changes referred to in paragraph (1) shall include all actions necessary to carry out paragraph (1), which may include—
“(A) improving the efficiency of approval procedures;
“(B) simplifying approval requirements,
“(C) establishing time deadlines or target deadlines for required approvals;
“(D) modifying division of approval authority between field and national offices;
“(E) improving outreach to project sponsors regarding information that is required to be submitted for such approvals;
“(F) requesting additional funding for increasing staff, if necessary; and
“(G) any other actions which would expedite approvals.
Any such changes shall be made in a manner that provides for full compliance with any existing requirements under law or regulation that are designed to protect families receiving public and assisted housing assistance, including income targeting, rent, and fair housing provisions, and shall also comply with requirements regarding environmental review and protection and wages paid to laborers.
“(b) Consultation.—The Secretary shall consult with the Commissioner of the Internal Revenue Service and take such actions as are appropriate in conjunction with such consultation to simplify the coordination of rules, regulations, forms, and approval requirements for multifamily housing projects projects [sic] for which assistance is provided by such Department in conjunction with any low-income housing tax credits under section 42 of the Internal Revenue Code of 1986 [26
] or tax-exempt housing bonds.
“(c) Recommendations.—In implementing the changes required under this section, the Secretary shall solicit recommendations regarding such changes from project owners and sponsors, investors and stakeholders in housing tax credits, State and local housing finance agencies, public housing agencies, tenant advocates, and other stakeholders in such projects.
“(d) Report.—Not later than the expiration of the 9-month period beginning on the date of the enactment of this Act [July 30, 2008], the Secretary shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate that—
“(1) identifies the actions taken by the Secretary to comply with this section;
“(2) includes information regarding any resulting improvements in the expedited approval for multifamily housing projects;
“(3) identifies recommendations made pursuant to subsection (c);
“(4) identifies actions taken by the Secretary to implement the provisions in the amendments made by sections 2834 and 2835 of this Act [enacting this section and sections
11403f–1 of Title
, The Public Health and Welfare, and amending sections
of this title and sections
11407b of Title
“(5) makes recommendations for any legislative changes that are needed to facilitate prompt approval of assistance for such projects.”