S. 3503 · 115th Congress
American Housing and Economic Mobility Act of 2018
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WarrenSponsorNo cosponsors.
The bill also lowers estate-tax thresholds, establishes new tax rates above those thresholds, and otherwise modifies provisions related to transfer taxes.
What it does: CRS summary · Introduced in Senate · Sep 26, 2018
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: American Housing and Economic Mobility Act of 2018
Latest action (Sep 26, 2018): Read twice and referred to the Committee on Finance.
Policy area: Housing and Community Development · Origin: Senate · Introduced: Sep 26, 2018
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.