Bill Summary
The "NeighborWorks Accountability Act" is proposed legislation aimed at enhancing oversight and accountability within the Neighborhood Reinvestment Corporation (NRC). Key provisions of the bill include the establishment of an Inspector General (IG) for the NRC, which will operate independently to ensure compliance and efficiency in the corporation's operations.
1. **Establishment of Inspector General**: The bill amends federal law to formally authorize the creation of an IG position within the NRC, similar to existing IG roles in other government entities.
2. **Funding and Responsibilities**: It allows for the appropriation of necessary funds to support the Office of Inspector General while clarifying that the IG will not take over any of the NRC's program operational responsibilities, such as organizational assessments or grantee oversight.
3. **Independent Audits**: The bill mandates that the NRC undergo annual audits by an independent external auditor, ensuring that these audits are performed in accordance with generally accepted auditing standards. This requirement adds a layer of financial transparency and accountability.
Overall, the NeighborWorks Accountability Act aims to strengthen oversight mechanisms within the NRC to promote effective use of resources and ensure accountability in its operations.
Possible Impacts
The "NeighborWorks Accountability Act," as described in the legislation, could affect people in the following ways:
1. **Increased Oversight and Accountability**: Establishing an Inspector General for the Neighborhood Reinvestment Corporation means there will be a dedicated office responsible for auditing and ensuring that the corporation operates effectively and transparently. This increased oversight can lead to improved accountability in the management of funds and programs, ultimately benefiting communities that rely on these resources for housing and neighborhood improvements.
2. **Enhanced Trust in Programs**: With the implementation of independent audits conducted by certified public accountants, stakeholders—including residents, community organizations, and funders—may have greater confidence in the integrity of the Neighborhood Reinvestment Corporation's programs. This increased trust could encourage more individuals and organizations to engage with and support initiatives aimed at neighborhood revitalization.
3. **Potential Changes in Program Delivery**: As the legislation specifies that program operating responsibilities will remain with the corporation and not be transferred to the Inspector General, there might be an emphasis on improving efficiency and effectiveness within existing programs. This could lead to enhancements in service delivery for residents, such as better access to affordable housing or more effective community development initiatives, as the corporation may seek to address any identified issues stemming from the audits.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6483 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 6483
To establish an Inspector General of the Neighborhood Reinvestment
Corporation, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
December 4, 2025
Mr. Walkinshaw introduced the following bill; which was referred to the
Committee on Financial Services, and in addition to the Committee on
Oversight and Government Reform, for a period to be subsequently
determined by the Speaker, in each case for consideration of such
provisions as fall within the jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To establish an Inspector General of the Neighborhood Reinvestment
Corporation, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``NeighborWorks Accountability Act''.
SEC. 2. AUTHORIZATION OF INSPECTOR GENERAL OF THE NEIGHBORHOOD
REINVESTMENT CORPORATION.
(a) In General.--Section 415(a)(1)(A) of title 5, United States
Code, is amended by inserting ``the Neighborhood Reinvestment
Corporation,'' after ``the Postal Regulatory Commission,''.
(b) Duties and Audits.--The Neighborhood Reinvestment Corporation
Act (42 U.S.C. 8101 et seq.) is amended--
(1) in section 606 (42 U.S.C. 8105), by adding at the end
the following:
``(e)(1) There is authorized to be appropriated to the Office of
Inspector General of the corporation established under section 415 of
title 5, United States Code, such sums as may be necessary to carry out
this Act.
``(2) There shall not be transferred to the Office of Inspector
General of the corporation any program operating responsibilities of
the corporation, including the organizational assessments work and
grantee oversight function of the corporation.''.
(c) Independent Audit.--Section 607 of the Neighborhood
Reinvestment Corporation Act (42 U.S.C. 8106) is amended by striking
subsection (b) and inserting the following:
``(b)(1) The accounts of the corporation shall be audited annually
by an independent external auditor.
``(2) Notwithstanding any other audit work performed by the Office
of Inspector General of the corporation, the audits required under
paragraph (1) shall be conducted in accordance with generally accepted
auditing standards by independent certified public accountants who are
certified by a regulatory authority of the jurisdiction in which the
audit is undertaken.''.
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