No new pilot program may start after three years
What the document says“After the expiration of the 3-year period beginning on the date of enactment of this section, neither the Federal Housing Commissioner nor the Secretary of Housing and Urban Development may newly establish a pilot program to increase access to small-dollar mortgages for mortgagors.”
The section provides that once three years have run from enactment, neither the Federal Housing Commissioner nor the Secretary of Housing and Urban Development may newly establish a small-dollar mortgage pilot program.
What the document actually says“After the expiration of the 3-year period beginning on the date of enactment of this section, neither the Federal Housing Commissioner nor the Secretary of Housing and Urban Development may newly establish a pilot program to increase access to small-dollar mortgages for mortgagors.”
Three years after this law starts, the door closes. After that neither official may start a new test program of this kind.
This is a different clock from the one that ends the program. That clock ends a program already running. This one stops a new one from starting.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.