No CRS summary available for this bill.
This section defines the terms "manufactured home," "modular home," and "Secretary" (i.e., Secretary of Housing and Urban Development); requires the Secretary to review Federal Housing Administration (FHA) construction financing programs (i.e., mortgage insurance for new home construction) to identify barriers to modular home methods, including construction draw schedules and administrative measures under section 525 of the National Housing Act; requires a report on results and recommended changes within one year of enactment; and requires initiation of rulemaking within 120 days after the report to establish an alternative draw schedule for modular and manufactured homes, with public comment, followed by a final rule or explanation for not issuing one. The section further authorizes the Secretary to award a grant to study the design and feasibility of a standardized uniform commercial code for modular homes—evaluating serialization, construction streamlining, innovation, and financing coordination—and authorizes appropriations as necessary for the grant.