A report with recommendations is due in a year, with three limits
What the document says“(A) reduce the safety of those residents; (B) shift long-term costs onto those residents; or (C) undermine the environmental standards of those residents.”
The section requires the two Secretaries to report within a year of enactment to the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services with recommendations for legislative, regulatory, or administrative action to make jointly funded housing projects more efficient and effective, so long as those recommendations do not materially reduce residents' safety, shift long-term costs onto residents, or undermine environmental standards for them.
What the document actually says“(A) reduce the safety of those residents; (B) shift long-term costs onto those residents; or (C) undermine the environmental standards of those residents.”
A change may not make residents less safe. It may not push long-term costs onto them. It may not weaken the standards that protect them.
The report must suggest ways to make these projects work better. The three limits are guardrails. A change that crosses one may not be recommended.
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.