REPORTS TO CONGRESS REGARDING AFFORDABLE HOUSING PROGRAM.

SEC. 616. REPORTS TO CONGRESS REGARDING AFFORDABLE HOUSING PROGRAM. Section 21 A(c) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)) is amended by adding after paragraph (14) (as added by section 515 of this Act) the following new paragraph: “(15) Reports to congress.— “(A) In general.— The Corporation shall submit to the Congress semiannual reports under this paragraph regarding the disposition of eligible residential properties under this subsection during the most recently concluded reporting period. The first report under this paragraph shall be submitted not later than the expiration of the 4-month period beginning upon the conclusion of the first reporting period under subparagraph (B). Subsequent reports shall be105 STAT. 1788 submitted not less than every 6 months after such expiration. “(B) Reporting periods.— For purposes of this paragraph, the term ‘reporting period’ means the 6-month period for which a report under this paragraph is made, except that the first reporting period shall be the period beginning on the date of the enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and ending on the date of the enactment of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991. Each successive reporting period shall begin upon the conclusion of the preceding reporting period. “(C) Information regarding properties sold.— Each report under this paragraph shall contain information regarding each eligible residential property sold by the Corporation during the applicable reporting period, as follows: “(i) A description of the property, the location of the property, and the number of dwelling units in the property. “(ii) The appraised value of the property, “(iii) The sale price of the property. “(iv) For eligible single family properties— “(I) the income and race of the purchaser of the property, if the property is sold to an occupying household or is sold for resale to an occupying household; and “(II) whether the property is reserved for residency by very low- or lower-income families, if the property is sold for use as rental property. “(v) For eligible multifamily housing properties, the number and percentage of dwelling units in the property reserved for occupancy by very low- and lower-income families. “(vi) The number of eligible single family properties sold after the expiration of the offer period for such properties referred to in paragraph (2)(B). “(vii) The number of eligible multifamily housing properties sold after the expiration of the periods for such properties referred to in subparagraphs (B) and (D) of paragraph (3). “(D) Number of properties within windows.— Each report under this paragraph shall contain the following information: “(i) The number of eligible single family properties for which the offer period referred to in paragraph (2)(B) had not expired before the conclusion of the applicable reporting period (or had not yet commenced). “(ii) The number of eligible multifamily housing properties for which the 90-day period referred to in paragraph (3)(B) had not expired before the conclusion of the applicable reporting period (or had not yet commenced).”.