To establish an independent entity within the Department of Housing and Urban Development to acquire and maintain distressed real estate to stabilize communities and increase the supply of affordable housing, 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 establish an independent entity within the Department of Housing and Urban Development to acquire and maintain distressed real estate to stabilize communities and increase the supply of affordable housing, 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 S1: 1. Short title; table of contents This Act may be cited as the Homes Act of 2024. The table of contents for this Act is as follows:
- Section id6d6eae44ca4a456b9c8f14b204b54496: 2. Findings and purposes Congress finds that the national protracted housing crisis has existed for decades and only continues to worsen, with the lack of...
- Section idb0132fdafbfa48e2824f8013161d339d: 3. Definitions In this Act: The term affordable housing means housing that complies with the standards established under section 7(c). The term at risk of...
- Section idbcf342937779411f91da7e78996de278: 4. Establishment of authority There is established within the Department of Housing and Urban Development an independent authority to be known as the Housing...
- Section id7ff25408d0a14a50a2e852bc13b80979: 5. Purposes of the authority The purposes of the Authority shall be to— acquire real estate, public land, corporate-owned vacant properties, including vacant,...
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 establish an independent entity within the Department of Housing and Urban Development to acquire and maintain distressed real estate to stabilize communities and increase the supply of affordable housing, 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 establish an independent entity within the Department of Housing and Urban Development to acquire and maintain distressed real estate to stabilize communities and increase the supply of affordable housing, 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. Smith (for herself, Mr. Welch, and Mr. Merkley) introduced …
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?
- "the_commission"
- → The commission identified in the operative section
- "secretary_of_labor"
- → Secretary of Labor
- "administrator_of_epa"
- → Administrator of the Environmental Protection Agency
- "secretary_of_treasury"
- → Secretary of the Treasury
- "secretary_of_education"
- → Secretary of Education
- "secretary_of_agriculture"
- → Secretary of Agriculture
- "secretary_of_health_and_human_services"
- → Secretary of Health and Human Services
- "secretary_of_housing_and_urban_development"
- → Secretary of Housing and Urban Development
Key Definitions
Terms defined in this bill
an increase in rent that exceeds the lesser of— 3 percent per year
a family that satisfies the definition of the term persons of low income in section 102(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5302(a))
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