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GAO-15-391R 1 (2015-02-17)

handle is hein.gao/gaobadqzc0001 and id is 1 raw text is: G A O U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 B-326640 February 17, 2015 The Honorable Richard Shelby Chairman The Honorable Sherrod Brown Ranking Member Committee on Banking, Housing, and Urban Development United States Senate The Honorable Jeb Hensarling Chairman The Honorable Maxine Waters Ranking Member Committee on Financial Services House of Representatives Subject: Department of Housing and Urban Development: Housing Trust Fund Pursuant to section 801 (a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Department of Housing and Urban Development (HUD) entitled Housing Trust Fund (RIN: 2506-AC30). We received the rule on January 30, 2015. It was published in the Federal Register as an interim rule on January 30, 2015. 80 Fed. Reg. 5200. The interim rule establishes the regulations that will govern the Housing Trust Fund (HTF) program, as established by the Housing and Economic Recovery Act of 2008. The purpose of the HTF is to provide grants to state governments to increase and preserve the supply of rental housing for extremely low- and very low-income families, including homeless families, and to increase homeownership for extremely low- and very low-income families. HUD issued the rule as an interim rule. It is HUD's intention to open this interim rule for public comment to solicit comments once funding is available and the grantees gain experience administering the HTF program. Enclosed is our assessment of HUD's compliance with the procedural steps required by section 801 (a)(1)(B)(i) through (iv) of title 5 with respect to the rule. Our review of the procedural steps taken indicates that HUD complied with the applicable requirements. GAO-1 5-391 R

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