Congress 115 - HR 7262 - American Housing and Economic Mobility Act of 2018

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Topics

Agricultural prices, subsidies, credit Appropriations Banking and financial institutions regulation Building construction Consumer credit Educational facilities and institutions Elementary and secondary education Energy efficiency and conservation Financial crises and stabilization Government information and archives Government lending and loan guarantees Higher education Housing and Community Development Housing and community development funding Housing discrimination Housing finance and home ownership Housing supply and affordability Indian social and development programs Labor standards Land use and conservation Low- and moderate-income housing Public contracts and procurement Public housing Regional and metropolitan planning Residential rehabilitation and home repair Rural conditions and development Sex, gender, sexual orientation discrimination Small business Transfer and inheritance taxes Wages and earnings

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Summary

American Housing and Economic Mobility Act of 2018

This bill addresses housing affordability and access by

establishing a Local Housing Innovation grant program to support efforts to remove barriers to affordable housing;
reauthorizing and increasing funding for various specified housing programs;
establishing a Middle Class Housing Emergency Fund to support the construction of affordable rental-housing units;
establishing a down-payment assistance program;
establishing a formula grant program to assist borrowers who have negative equity in their homes;
expanding the applicability, and increasing the penalties for violations, of certain requirements for financial institutions to help meet the credit needs of lower-income communities;
expanding certain protections under the Fair Housing Act; and
otherwise revising provisions related to housing assistance.

The bill also lowers estate-tax thresholds, establishes new tax rates above those thresholds, and otherwise modifies provisions related to transfer taxes.

Actions

Dec 13, 2018

Referred to the Subcommittee on Highways and Transit.
Dec 13, 2018

Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Dec 11, 2018

Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, the Judiciary, Transportation and Infrastructure, and Education and the Workforce, 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.
Dec 11, 2018

Introduced in House

Amendments

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