“A bill to establish an Inspector General of the Neighborhood Reinvestment Corporation, and for other purposes.”
No CRS summary available for this bill.
This section authorizes an Office of Inspector General (OIG) for the Neighborhood Reinvestment Corporation (NRC, operating as NeighborWorks America)—which provides grants and technical assistance to neighborhood housing services programs and preservation projects to promote reinvestment in declining neighborhoods—by amending the Inspector General Act of 1978 (5 U.S.C. §415(a)(1)(A)). The section (1) authorizes appropriations of such sums as necessary for the NRC OIG and prohibits transferring to it any program operating responsibilities, including organizational assessments and grantee oversight (adding new subsection (e) to 42 U.S.C. §8105); and (2) requires annual audits of NRC accounts by an independent external auditor (i.e., certified public accountants) in accordance with generally accepted auditing standards, notwithstanding any OIG audit work (revising 42 U.S.C. §8106(b)).