FAIR Costs Act

Bill: 118-hr-8678
Sponsor: full_name: Rep. Bowman, Jamaal [D-NY-16]
Introduced: 2024-06-11
Policy area: Housing and Community Development
Latest action: action_date: 2024-06-11
text: Referred to the House Committee on Financial Services.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 8678 IN THE HOUSE OF REPRESENTATIVES June 11, 2024 Mr. Bowman (for himself and Mrs. Watson Coleman ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend certain Acts to adjust rental payments with respect to certain Federal rental assistance programs, and for other purposes.

1. Short title This Act may be cited as the Fair Adjustments for Income-based Rental Costs Act or the FAIR Costs Act . 2. Adjustments to rental payments with respect to certain Federal rental assistance programs (a) United States Housing Act of 1937 The United States Housing Act of 1937 (42 U.S.C. 1437 et. seq.) is amended— (1) in section 3(a)(1)(A), by striking 30 and inserting 20 ; (2) in section 8(o)(2)(A)(i), by striking 30 and inserting 20 ; and (3) in section 9(e)(2)(A)— (A) in clause (vi), by striking and at the end; (B) by redesignating clause (vii) as clause (viii) and by moving such clause 1 em to the right; and (C) by inserting after clause (vi) the following: (vii) the amount of public housing rental income forgone by the public housing agency as a result of lowering the percentage of monthly adjusted income for the calculation of rental payments; and . (b) Housing Act of 1949 Section 521(a)(3) of the Housing Act of 1949 ( 42 U.S.C. 1490a(a)(3) ) is amended by striking 30 in each place it occurs and inserting 20 . (c) Housing Act of 1959 Section 202(c)(3) of the Housing Act of 1959 ( 12 U.S.C. 1701q(c)(3) ) is amended by striking 30 and inserting 20 . (d) Cranston-Gonzalez National Affordable Housing Act Section 811(d)(3) of the Cranston-Gonzalez National Affordable Housing Act ( 42 U.S.C. 8013(d)(3) ) is amended by striking 30 and inserting 20 . 3. Technical assistance for applicants for admission to a public housing project Section 9(h)(1) of the United States Housing Act of 1937 ( 42 U.S.C. 1437g(h)(1) ) is amended by inserting applicants for admission to a project, after organizations, . 4. Authorization of appropriations with respect to certain Federal rental assistance programs (a) United States Housing Act of 1937 The United States Housing Act of 1937 (42 U.S.C. 1437 et. seq.) is amended— (1) in section 9(c)(2)(A), by striking , and 2003 and inserting 2003, 2025, and each fiscal year thereafter ; (2) in section 9(c)(2)(B), by striking , and 2003 and inserting 2003, 2025, and each fiscal year thereafter ; and (3) in section 8, by adding at the end the following new subsection: (ee) Authorization of appropriations for tenant-Based assistance There are authorized to be appropriated, for fiscal year 2025 and each fiscal year thereafter, such sums as may be necessary for tenant-based assistance under subsection (o). . (b) Housing Act of 1959 Section 202(m) of the Housing Act of 1959 ( 12 U.S.C. 1701q(m) ) is amended to read as follows: (m) Authorization of appropriations There is authorized to be appropriated such sums as may be necessary to carry out this section. . (c) Cranston-Gonzalez National Affordable Housing Act Subsection (m) of section 811 of the Cranston-Gonzalez National Affordable Housing Act ( 42 U.S.C. 8013(m) ) is amended by striking the period at the end and inserting , and such sums as necessary for fiscal year 2025 and each fiscal year thereafter .