HOMES Act of 2020
Latest action · Jun 26, 2020 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 26, 2020
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Helping Owners Meet Essential Standards Act of 2020 or the HOMES Act of 2020
This bill requires manufactured housing communities and home parks to meet minimum consumer protections to be eligible for certain federally-backed loans for the construction, substantial rehabilitation, or purchase of these communities. Specifically, the Department of Housing and Urban Development is prohibited from insuring such a loan, and Fannie Mae and Freddie Mac are prohibited from purchasing such a loan, unless a borrower provides specified tenant protections, including
- one-year renewable lease terms, unless there is good cause for nonrenewal;
- a 60-day advance notice of any increase in rent, or of a sale or closure of the community;
- a five-day grace period for rent payments; and
- a right for a tenant to sell a manufactured home within a reasonable time period after eviction.
The bill also establishes the Manufactured Home Company Lending Standards Commission to propose additional consumer protection standards.
Cosponsors 2
Members who signed on, in the order they did. All signed on Jun 26, 2020.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-IA | Cynthia Axne | Original | Jun 26, 2020 |
| D-IA | David Loebsack | Original | Jun 26, 2020 |
Actions 2
Everything that happened, newest first.
- Jun 26, 2020Introduced in House
- Jun 26, 2020Referred to the House Committee on Financial Services.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jun 26, 2020Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.