Legislation & Legislation Proposals
Below are the NCSHA's key congressional committee rosters for the 116th Congress. For specific committee websites, see links below.
On February 1, 2019, Senate Banking Committee Chair Mike Crapo (R-ID) released an outline of his housing finance reform plan, which includes a securitization platform operated by Ginnie Mae and would replace the GSEs’ housing goals and duty to serve with a new Market Access Fund. The Market Access Fund, Housing Trust Fund, and Capital Magnet Fund would share the proceeds of a 10-basis point fee on annual loan volume guaranteed by the new system.
Representatives C.A. Dutch Ruppersberger (D-MD) and Steve Stivers (R-OH), the co-chairmen of the bipartisan Municipal Finance Caucus, are circulating a sign-on letter to House members in support of tax-exempt municipal bonds.
Senate Finance Committee member Dean Heller (R-NV) introduced the Seniors Affordable Housing Tax Credit Act, S. 3580, which would establish a tax credit for owners of multifamily rental property who agree to rent to extremely low-income seniors.
Senator Young’s bill, the Task Force on the Impact of Affordable Housing Crisis Act, establishes an 18-member task force charged with evaluating and quantifying the impact of affordable housing on other government programs and making recommendations to Congress on how to use affordable housing to improve the effectiveness of other federal programs and improve life outcomes.
Senate Finance Committee Ranking Member Wyden (D-OR) introduced the First-Time Homebuyer Credit Act of 2018, S. 3364, which would create a refundable first-time homebuyer tax credit equal to 2.5 percent of the home purchase price up a maximum of $10,000. The credit would phase out for homes selling for $600,000 to $700,000. The credit would also phase out for individual taxpayers with incomes between $80,000 and $100,000 and joint taxpayers with incomes between $160,000 and $180,000.
Senate Finance Committee Ranking Member Ron Wyden (D-OR) introduced the Middle Income Housing Tax Credit Act of 2018, S. 3365, which would create a new state-administered tax credit, modeled after the Low Income Housing Tax Credit (Housing Credit), to stimulate the development of rental housing for middle-income households earning up to 100 percent of area median gross income (AMGI).
Representative Curbelo sends Dear Colleague Cosponsorship Letter for H.R. 1661, "The Affordable Housing Credit Improvement Act."
Appropriates Fiscal Year 2017 funding for federal agencies, including HUD and USDA rural housing programs.