MULTIFAMILY LEASE AND REPAIR ASSISTANCE.

SEC. 1213. MULTIFAMILY LEASE AND REPAIR ASSISTANCE. (a) Lease and Repair of Rental Units for Temporary Housing.—Section 408(c)(1)(B)(ii)(II) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5174(c)(1)(B)(ii)(II)) is amended to read as follows: “(II) Improvements or repairs.—Under the terms of any lease agreement for property entered into under this subsection, the value of the improvements or repairs shall be deducted from the value of the lease agreement.” . (b) Rental Properties Impacted.—Section 408(c)(1)(B)(ii)(I)(aa) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5174(c)(1)(B)(ii)(I)(aa)) is amended to read as follows: “(aa) enter into lease agreements with owners of multifamily rental property impacted by a major disaster or located in areas covered by a major disaster declaration to house individuals and households eligible for assistance under this section; and” . (c) Inspector General Report.—Not later than 2 years after the date of the enactment of this Act, the inspector general of the Department of Homeland Security shall— (1) assess the use of the authority provided under section 408(c)(1)(B) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5174(c)(1)(B)), as amended by this division, including the adequacy of any benefit-cost analysis done to justify the use of this alternative; and (2) submit a report on the results of the assessment conducted under paragraph (1) to the appropriate committees of Congress.