Affordable Housing Production Act

Bill: 117-s-1674
Sponsor: full_name: Sen. Cortez Masto, Catherine [D-NV]
Introduced: 2021-05-18
Policy area: Housing and Community Development
Subjects: Government trust funds

Homelessness and emergency shelter

Housing and community development funding

Housing finance and home ownership

Housing supply and affordability

Low- and moderate-income housing

State and local finance
Latest action: action_date: 2021-05-18
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2021-05-18
action_desc: Introduced in Senate
text: <p><b>Affordable Housing Production Act</b></p> <p>This bill allows the Department of the Treasury to transfer Troubled Asset Relief Program funds to the Department of Housing and Urban Development's Housing Trust Fund. This fund provides grants to states to (1) increase and preserve the supply of rental housing for extremely low-income and very low-income families, including homeless families; and (2) increase homeownership for extremely low-income and very low-income families.</p>

tv_txt: II 117th CONGRESS 1st Session S. 1674 IN THE SENATE OF THE UNITED STATES May 18, 2021 Ms. Cortez Masto (for herself, Mr. Padilla , Mrs. Feinstein , Mr. Sanders , and Mr. Merkley ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the Emergency Economic Stabilization Act of 2008 to authorize use of amounts under the Troubled Assets Relief Program to be used for activities under the Housing Trust Fund, and for other purposes.

1. Short title This Act may be cited as the Affordable Housing Production Act . 2. Use of TARP amounts (a) In General The Emergency Economic Stabilization Act of 2008 ( 12 U.S.C. 5201 et seq.) is amended by inserting after section 110 ( 12 U.S.C. 5220 ) the following: 110A. Other assistance Notwithstanding section 115(a), section 120, or any other provision of law, the Secretary may use any amounts made available under this title that are not otherwise obligated for deposit in and use only to provide assistance under the Housing Trust Fund under section 1338 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4568 ). . (b) Clerical amendment The table of contents in section 1(b) of the Emergency Economic Stabilization Act of 2008 ( 12 U.S.C. 5201 note) is amended by inserting after the item relating to section 110 the following: 110A. Other assistance. .