NeighborWorks Accountability Act

Sponsor: James R. Walkinshaw (Democratic-VA)December 4, 2025

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Introduced

In Committee

Passed One Chamber

Passed Both Chambers

Signed into Law

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.

New watchdog would help the Neighborhood Reinvestment Corporation spend money wisely.

This bill would create a new, independent Inspector General for the Neighborhood Reinvestment Corporation. This office would help make sure the corporation spends its money wisely and runs its programs well. It would also require yearly financial checks by outside experts.

What Would Change

Today, the Neighborhood Reinvestment Corporation does not have its own dedicated Inspector General, and its annual audit rules are less specific. If this bill becomes law, it would create an independent Inspector General to watch for waste and fraud, and it would require annual financial audits by outside certified public accountants.

Key Provisions

Creates a new independent Inspector General office for the Neighborhood Reinvestment Corporation.
Authorizes necessary funding for the new Inspector General's office.
Blocks the Inspector General's office from taking over the corporation's regular program work, like overseeing grants.
Requires the Neighborhood Reinvestment Corporation to get annual financial audits from an outside, independent accounting firm.
Ensures these annual audits follow strict accounting rules and are done by certified public accountants.

View on Congress.gov

HR 6483 · 119th Congress · December 4, 2025 · AI Summary by gemini-2.5-flash · 9/10

NeighborWorks Accountability Act

What Would Change

Key Provisions

Lobbying Activity