GROW Affordable Housing Act

Bill: 117-hr-8599
Sponsor: full_name: Rep. Beatty, Joyce [D-OH-3]
Introduced: 2022-07-29
Policy area: Housing and Community Development
Latest action: action_date: 2022-07-29
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2022-07-29
action_desc: Introduced in House
text: <p><b>Generating Resources and Opportunities Within Affordable Housing Act</b> <strong>or the GROW Affordable Housing Act</strong></p> <p>This bill increases the amount of funds the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae) must allocate each year to the Housing Trust Fund and the Capital Magnet Fund, both of which support affordable housing and are administered by the Department of Housing and Urban Development.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 8599 IN THE HOUSE OF REPRESENTATIVES July 29, 2022 Mrs. Beatty introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to adjust the affordable housing allocations.

1. Short titles This Act may be cited as the Generating Resources and Opportunities Within Affordable Housing Act or the GROW Affordable Housing Act . 2. Affordable housing allocations Section 1337(a) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4567(a) ) is amended by striking 4.2 basis points each place such term appears and inserting 10 basis points .