American Housing and Economic Mobility Act of 2018

Bill: 115-hr-7262
Sponsor: Rep. Richmond, Cedric L. [D-LA-2]
Introduced: 2018-12-11 in the House
Policy area: Housing and Community Development
Subjects: Agricultural prices, subsidies, credit
Appropriations
Banking and financial institutions regulation
Building construction
Consumer credit
Educational facilities and institutions
Elementary and secondary education
Energy efficiency and conservation
Financial crises and stabilization
Government information and archives
Government lending and loan guarantees
Higher education
Housing and community development funding
Housing discrimination
Housing finance and home ownership
Housing supply and affordability
Indian social and development programs
Labor standards
Land use and conservation
Low- and moderate-income housing
Public contracts and procurement
Public housing
Regional and metropolitan planning
Residential rehabilitation and home repair
Rural conditions and development
Sex, gender, sexual orientation discrimination
Small business
Transfer and inheritance taxes
Wages and earnings

Summary:
action_date: 2018-12-11
text: 

American Housing and Economic Mobility Act of 2018

 
This bill addresses housing affordability and access by
 
 
establishing a Local Housing Innovation grant program to support efforts to remove barriers to affordable housing; 
 
reauthorizing and increasing funding for various specified housing programs; 
 
establishing a Middle Class Housing Emergency Fund to support the construction of affordable rental-housing units; 
 
establishing a down-payment assistance program; 
 
establishing a formula grant program to assist borrowers who have negative equity in their homes; 
 
expanding the applicability, and increasing the penalties for violations, of certain requirements for financial institutions to help meet the credit needs of lower-income communities; 
 
expanding certain protections under the Fair Housing Act; and 
 
otherwise revising provisions related to housing assistance.

 
The bill also lowers estate-tax thresholds, establishes new tax rates above those thresholds, and otherwise modifies provisions related to transfer taxes.


Legislative actions:
action_date: 2018-12-13
text: Referred to the Subcommittee on Highways and Transit.
action_date: 2018-12-13
text: Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
action_date: 2018-12-11
text: Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, the Judiciary, Transportation and Infrastructure, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2018-12-11
text: Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, the Judiciary, Transportation and Infrastructure, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2018-12-11
text: Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, the Judiciary, Transportation and Infrastructure, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2018-12-11
text: Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, the Judiciary, Transportation and Infrastructure, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2018-12-11
text: Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, the Judiciary, Transportation and Infrastructure, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2018-12-11
text: Introduced in House
action_date: 2018-12-11
text: Introduced in House