To require the Secretary of Housing and Urban Development to establish a program to provide homeownership assistance grants, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To require the Secretary of Housing and Urban Development to establish a program to provide homeownership assistance grants, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Civil Rights, Housing.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H9DCB9223FF3D419A89299459F5BAF973: 1. Short title This Act may be cited as the Home of Your Own Act of 2024.
- Section HD987A67D1F6A44B88D3D4BFBA228CDA4: 2. Establishment of Homeownership Assistance Grant Program The Secretary of Housing and Urban Development shall, not later than 1 year after the date of the...
- Section H45045B219297468E8EB8F38869AD3A19: 3. Administration of grants by States and Indian tribes The Secretary shall require that each State receiving grant amounts under this Act— submit an annual...
- Section H1691E69C182E46DFB257E7BF4DDBAB36: 4. Financial counseling requirement A State or Indian tribe may only provide assistance under this Act to a eligible person if such eligible person, before...
- Section H07DF9DD2B73F4B2294C9B13F7F3137C0: 5. Authorization of appropriations; administrative costs There is authorized to be appropriated $6,700,000,000 for each of fiscal years 2025 through 2029 to...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To require the Secretary of Housing and Urban Development to establish a program to provide homeownership assistance grants, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Civil Rights, Housing
Primary Purpose
This bill, To require the Secretary of Housing and Urban Development to establish a program to provide homeownership assistance grants, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMs. Leger Fernandez (for herself, Mr. Costa, Mr. Robert Garcia …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary_of_housing_and_urban_development"
- → Secretary of Housing and Urban Development
Key Definitions
Terms defined in this bill
any ownership, excluding any interest in heir property, in— real estate in fee simple
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology