PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Housing and Community Opportunity.
Congressional Research Service
Version 00 · Introduced in House · Jan 24, 2007
Pathway to Preservation Act of 2007 - Amends the Deficit Reduction Act of 2005 to redefine "loan market value," which currently means the value of a multifamily (rental or cooperative housing project) loan, without taking into account any affordability requirements. Repeals the condition that affordability requirements not be taken into account. Defines "loan market value" as the value of a multifamily (rental or cooperative housing project) loan using industry standard appraisal practices, including consideration of the cost of repairs needed for the property subject to the loan to comply with minimum safety and building standards and the cost of maintaining the affordability restrictions applicable under the original loan or grant for the property.
Redefines "property market value," which currently means the value of a multifamily (rental or cooperative housing project) real property for its current use, without taking into account any affordability requirements. Repeals the condition that affordability requirements not be taken into account. Defines "property market value" as the value of a multifamily (rental or cooperative housing project) real property for its current use, as determined using industry standard appraisal practices, including consideration of the cost of repairs needed for the property subject to the loan to comply with minimum safety and building standards and the cost of maintaining the affordability restrictions applicable under the original loan or grant for the property.
People & committees
Rep. Velazquez, Nydia M. [D-NY-12] · D–NY
Legislative record
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Referred to the Subcommittee on Housing and Community Opportunity.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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