S 1254 · 107th Congress · Housing and Community Development

Mark-to-Market Extension Act of 2001

Introduced 2001-07-26· Sponsored by Sen. Sarbanes, Paul S. [D-MD]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Placed on Senate Legislative Calendar under General Orders. Calendar No. 115.(2001-08-01)

Plain Language Summary

[AI summary unavailable — showing source text] Mark-to-Market Extension Act of 2001 - Amends the Multifamily Assisted Housing Reform and Affordability Act of 1997 (Act) to require (currently, authorizes) the Secretary of Housing and Urban Development to make specified funds available to tenant, nonprofit, and other organizations for activities under such Act. Requires the Office of Multifamily Housing Assistance Restructuring (Office) to provide section 8 residents with notice of a restructuring plan's rejection. Authorizes the Secretary to consider mortgage restructuring and rental sufficiency plans to facilitate property transfers. Limits owner contribution to 25 percent of rehabilitation costs in the case of certain required additional features such as elevators, air conditioning, or community space. Amends the United States Housing Act of 1937 to provide for consistent rent standards for projects undergoing restructuring, and for tenant-based vouchers. Amends the National Housing Act to limit a refinanced mortgage subject to a mortgage restructuring and rental sufficiency plan to not more than a 30-year term. Extends the Office and mortgage and rehabilitation programs under the Act.…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

S. 1254, Mark-to-Market Extension Act of 2001

Sep 7, 2001

<p>Cost estimate for the bill as reported by the Senate Committee on Banking, Housing, and Urban Affairs on August 1, 2001</p>

Full CBO report ↗

S. 1254, Mark-to-Market Extension Act of 2001

Sep 7, 2001

Cost estimate for the bill as reported by the Senate Committee on Banking, Housing, and Urban Affairs on August 1, 2001

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office

Cosponsors (2)

1 Democrat1 Republican