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S. 3511: Mark-to-Market Extension Act of 2006

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S. 3511: Mark-to-Market Extension Act of 2006

109th Congress · introduced 2006-06-14 · Housing and Community Development · Latest: Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 109-1052.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2006-06-14 · official record
  2. Who proposed it: Sen. Allard, Wayne [R-CO] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 109-1052. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Mark-to-Market Extension Act of 2006

Plain summary

Mark-to-Market Extension Act of 2006 - Amends the Multifamily Assisted Housing Reform and Affordability Act of 1997 to reauthorize through FY2011: (1) the Federal Housing Administration (FHA)-insured MultifamilyHousing Mortgage and Housing Assistance Restructuring (Mark-to-Market) program; and (2) the Office of Multifamily Housing Assistance Restructuring. Permits the Secretary of Housing and Urban Development to waive rent level limits for: (1) disaster-damaged eligible projects; and (2) up to 9% (currently 5%) of all units subject to restructured mortgages in any fiscal year, based on certain findings of special need. Redefines eligible multifamily housing project to include properties worthy of cost-effective preservation even though their rents fall below a level otherwise authorized that, on an average per unit or per room basis, exceeds the rent of comparable properties in the same market area. Requires each mortgage restructuring and rental assistance sufficiency plan to determine, for units assisted with project-based assistance in eligible multifamily housing projects, adjusted rent levels for disaster-damaged eligible projects equal to 100% of the fair market rents for the relevant market area. Revises requirements for an approved mortgage restructuring and rental assistance sufficiency plan with respect to modification or forgiveness of all or part of a second mortgage held by the Secretary (debt relief) if the project concerned is acquired by a tenant organization or tenant-endorsed community-based nonprofit or public agency. Sets forth requirements for alternative periods of eligibility for such nonprofit debt relief if the purchaser acquires the project subsequent to the date of recordation of the related affordability agreement.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Mark-to-Market Extension Act of 2006

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Allard, Wayne [R-CO] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Jack Reed (D-RI)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)
Authorization
A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Fiscal year
The 12-month period a government uses for its budget. The federal fiscal year runs from October 1 to September 30 and is named for the calendar year in which it ends. Most states use July 1 to June 30.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong109-s3511 · catalog fed-us-congress-bills-cong109 · updated 2026-11-15 by psicol fed-bills-cong109