arrow_back Back to App

Increased Oversight for Neighborhood Development Funds

This act establishes an independent Inspector General for the Neighborhood Reinvestment Corporation (NeighborWorks), aiming to improve oversight of public funds. This means that money allocated for local community development will be subject to more thorough scrutiny, potentially increasing its effectiveness and preventing misuse. Additionally, annual external audits will ensure financial transparency for the organization.
Key points
Creation of an independent Inspector General to oversee the Neighborhood Reinvestment Corporation (NeighborWorks).
Mandatory annual financial audits by independent external experts are introduced.
Ensuring the Inspector General's office has sufficient resources but does not take over the corporation's operational responsibilities.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2484
Sponsor: Sen. Hagerty, Bill [R-TN]
Process start date: 2025-07-28
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

NeighborWorks Accountability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2484.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-28.

What are the main provisions?

Key points include:

  • Creation of an independent Inspector General to oversee the Neighborhood Reinvestment Corporation (NeighborWorks).
  • Mandatory annual financial audits by independent external experts are introduced.
  • Ensuring the Inspector General's office has sufficient resources but does not take over the corporation's operational responsibilities.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Hagerty, Bill [R-TN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Real Estate Public Investments