Pending Housing Legislation Update

BY MEAVE GALLAGHER

AFFORDABLE HOUSING FINANCE • DECEMBER 20, 2007

The 110th Congress has been busy with housing and community development bills, particularly in the House. Follow the progress of these bills and if you support their enactment, contact your senator or congressman at: www.senate.gov and representatives at: www.house.gov.

Updates

H.R. 3002: Native American Economic Development and Infrastructure for Housing Act
Latest Action: 10/2/07 Amended by the Committee on Financial Services; placed on the Union Calendar, calendar No. 223

HR 3074: Fiscal Year 2008 HUD Appropriations
Latest action: 11/14/07 Conference papers: Senate report and manager's statement and message on House action held at the desk in Senate

H.R. 2787: CJ's Home Protection Act
Latest Action: 11/1/07 Received in the Senate and read twice; referred to the Committee on Banking, Housing, and Urban Affairs

H.R. 3524: HOPE VI Improvement and Reauthorization Act
Latest Action: No further action reported since reaching Committee on 9/26/07

HR 2895: National Affordable Housing Trust Fund
Latest action: 10/10/07 Passed House

H.R. 3355: Homeowners' Defense Act
Latest Action: 11/8/07 Passed in the House (258-155); 11/1307 Received in the Senate, read twice, and referred to the Committee on Banking, Housing, and Urban Affairs

H.R. 2930: Section 202 Supportive Housing for the Elderly Act
Latest Action: 12/5/07 Passed in the House by voice vote; 12/6/07 Received in the Senate, read twice, and referred to the Committee on Banking, Housing, and Urban Affairs.

H.R. 3521: Public Housing Asset Management Improvement Act
Latest Action: No further action reported since Committee on Financial Services consideration and mark-up session on 9/25/07

Newer Legislation

HR 3965; S 131: Section 8 Mark-to-Market Extension Act
Sponsors: Waters, Baca, Clarke, Frank, Pryce
Summary: Would extend the mark-to-market program until 1 Oct. 2012, and revise the requirements for mortgage restructuring and rental assistance sufficiency plans for units receiving project-based assistance, in eligible multifamily housing projects.
Latest action: 10/31/07 House committee approval

HR 1852; S 947: Expanding American Homeownership Act
Sponsors: Waters et al.
Summary: This bill would raise the maximum approval amount for multi-family mortgage insurance by the FHA in normal- and high-cost areas. It would establish the Affordable Housing Fund to make rent and home ownership more affordable for low-income families, and extend the term for mortgages to 40 years. HR 1852 would require mortgage companies to refer late-paying mortgagors to counseling services, funded by HUD. It includes plans for a Mutual Mortgage Insurance Fund. For those with poor credit histories, the bill would establish a program for alternative credit ratings based on rent, utilities, and insurance payment histories. This bill would prohibit any programs under the National Housing Act from charging mortgage insurance premiums above the Oct. 1, 2006 amounts.
Latest action: 9/19/01 Received in the Senate, read twice, and referred to the Committee on Banking, Housing, and Urban Affairs

This information was obtained through GovTrack.us, the Library of Congress search engine, and Housing Development Reports vol.35, No. CD-23, published Dec. 3, 2007.

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