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NeighborWorks Accountability Act
To establish an Inspector General of the Neighborhood Reinvestment Corporation, and for other purposes.
Summary
The bill establishes an Inspector General position for the Neighborhood Reinvestment Corporation, a federal agency that supports community reinvestment efforts. The Inspector General would provide independent oversight of the corporation's operations and finances, similar to inspectors general at other federal agencies. The bill requires the corporation's financial accounts to be audited annually by independent certified public accountants using standard auditing practices. The Inspector General's office would not assume the corporation's day-to-day program operations, maintaining a separate oversight function.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
Actions (2)
- Dec 4, 2025 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. · house
- Dec 4, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
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.”. <all>
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