American Housing and Economic Mobility Act of 2021

Bill: 117-hr-2768
Sponsor: Rep. Cleaver, Emanuel [D-MO-5]
Introduced: 2021-04-22 in the House
Policy area: Housing and Community Development
Subjects: Administrative law and regulatory procedures
Alaska Natives and Hawaiians
Alternative dispute resolution, mediation, arbitration
Banking and financial institutions regulation
Building construction
Business records
Consumer credit
Department of Housing and Urban Development
Educational facilities and institutions
Elementary and secondary education
Energy efficiency and conservation
Government information and archives
Government lending and loan guarantees
Government trust funds
Higher education
Housing and community development funding
Housing discrimination
Housing finance and home ownership
Housing for the elderly and disabled
Housing supply and affordability
Labor standards
Land use and conservation
Landlord and tenant
Low- and moderate-income housing
Poverty and welfare assistance
Public housing
Real estate business
Regional and metropolitan planning
Transfer and inheritance taxes
Veterans' loans, housing, homeless programs
Wages and earnings

Summary:
action_date: 2021-04-22
text: 

American Housing and Economic Mobility Act of 2021

 
This bill addresses housing affordability and availability, makes certain changes to the estate and gift taxes, and contains other related provisions.
 
The Department of Housing and Urban Development shall provide grants to (1) state and local governments that remove unnecessary barriers to building affordable units, (2) states to assist borrowers who have negative equity in their homes, (3) state housing finance agencies to construct or acquire affordable rental housing and prevent tenant displacement and harassment, and (4) eligible individuals (generally, lower income individuals who resided in low-income or historically racially segregated areas) to help them purchase their first homes.
 
The bill provides funding through FY2031 for the first-time homeowner grant program established by the bill, through FY2022 for the affordable rental housing construction program established by the bill, and through FY2022 for specified existing rural housing programs.
 
The bill also expands fair housing protections to prohibit discrimination based on sexual orientation, gender identity, marital status, source of income, veteran status, or an individual's perceived membership in a protected class (e.g., an individual's perceived race or sex).
 
Additionally, the bill modifies the estate tax in various ways, including by reducing the number of brackets to three, increasing the tax rates, and reducing the basic exemption amount. The bill also modifies provisions related to gift taxes and transfer taxes.



Legislative actions:
action_date: 2021-10-19
text: Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties.
action_date: 2021-07-14
text: Referred to the Subcommittee on Economic Opportunity.
action_date: 2021-04-22
text: Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Veterans' Affairs, and Ways and Means, 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: 2021-04-22
text: Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Veterans' Affairs, and Ways and Means, 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: 2021-04-22
text: Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Veterans' Affairs, and Ways and Means, 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: 2021-04-22
text: Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Veterans' Affairs, and Ways and Means, 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: 2021-04-22
text: Introduced in House
action_date: 2021-04-22
text: Introduced in House