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House Bill 2255
115th Congress(2017-2018)
HOME Act
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Passed House on Jan 29, 2018
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H. R. 2255 (Reported-in-House)

Union Calendar No. 393

115th CONGRESS
2d Session
H. R. 2255

[Report No. 115–528]


To clarify that nonprofit organizations may accept donated mortgage appraisals, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

April 28, 2017

Mr. Trott introduced the following bill; which was referred to the Committee on Financial Services

January 29, 2018

Additional sponsors: Mr. Gottheimer and Ms. Sinema

January 29, 2018

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

A BILL

To clarify that nonprofit organizations may accept donated mortgage appraisals, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Housing Opportunities Made Easier Act” or the “HOME Act”.

SEC. 2. Exemption from Truth in Lending Act.

Section 129E(i) of the Truth in Lending Act (15 U.S.C. 1639e(i)) is amended by adding at the end the following:

“(4) RULE OF CONSTRUCTION RELATED TO APPRAISAL DONATIONS.—For purposes of paragraph (1), if a fee appraiser voluntarily donates appraisal services to an organization described in section 170(c)(2) of the Internal Revenue Code of 1986, such voluntary donation shall be deemed customary and reasonable.”.

Union Calendar No. 393

115th CONGRESS
     2d Session
H. R. 2255
[Report No. 115–528]
A BILL
To clarify that nonprofit organizations may accept donated mortgage appraisals, and for other purposes.
January 29, 2018
Committed to the Committee of the Whole House on the State of the Union and ordered to be printed