Family Stability and Opportunity Vouchers Act Introduced in the House
On May 31, Representatives Joe Neguse (D-CO) and Brian Fitzpatrick (R-PA) introduced the Family Stability and Opportunity Vouchers Act (H.R. 3776). The bill would create new housing vouchers to help low-income families have more options to choose the communities where they live. A Senate companion bill (S. 1257) was introduced earlier this year by Senators Chris Van Hollen (D-MD) and Todd Young (R-IN).
The bill, if signed into law, would provide funding for an additional 250,000 housing vouchers over five years for low-income, high-need families. The bill would also require public housing agencies that receive these vouchers to provide mobility-related services to help families with young children move into higher-opportunity areas. This includes access to counseling and case management services that have a proven track record of helping families move out of poverty. The bill also provides the HUD Secretary the authority to establish criteria defining high opportunity areas for the purposes of these vouchers. The Family Stability and Opportunity Vouchers Act was referred to the House Committee on Financial Services for further consideration.
To read the full bill text, click here.
Neighborhood Homes Investment Act Reintroduced in House
On June 9, Representatives Mike Kelly (R-PA) and Brian Higgins (D-NY) reintroduced the Neighborhood Homes Investment Act (H.R. 3940), bipartisan legislation that would create the Neighborhood Homes Tax Credit to spur the renovation and development of one- to four-unit homes in once-thriving urban, suburban, and rural communities that now have distressed, blighted neighborhoods and low homeownership rates.
Modeled after the Low-Income Housing Tax Credit (Housing Credit), the bill would cover the “value gap” between the cost of building or renovating a home and the market-rate price at which it can be sold to low- and middle-income homebuyers. The proposal would provide low- and middle-income households with more equitable opportunities for homeownership and upward economic mobility. If enacted by the 118th Congress, the legislation would finance the construction or renovation of an estimated 500,000 homes over the next decade. The 500,000 homes that would be developed or rehabbed would:
- Spur $125 billion in total development activity.
- Support 861,000 jobs in construction and construction-related industries.
- Create $56 billion in wages and salaries.
- Produce $26 billion in federal and $12 billion in state and local tax revenues and fees.
Earlier this year, Senators Ben Cardin (D-MD) and Todd Young (R-IN) introduced an identical bill in the Senate (S. 657). The Neighborhood Homes Investment Act was referred to the House Committee on Ways and Means.
To read the full bill text, click here. To view the press release, click here.
HUD Inspector General Testifies Before House Subcommittee on Housing
This week, HUD’s Inspector General (OIG), Rae Oliver Davis, testified before the House Financial Services Subcommittee on Housing and Insurance. Ms. Davis testified that finding an affordable home in America is worse now than it has been at any point since the 2008 financial crisis. HUD continues to experience challenges in efficiently and effectively overseeing its rental assistance programs, including in providing oversight of local program partner performance and doing so with limited funding and resources. In addition, HUD and its local partners have difficulty attracting new business partners, such as landlords and property owners, to participate in its tenant-based rental assistance programs. A lack of interested property owners reduces the availability of affordable rental housing. Ms. Davis highlighted that HUD is also challenged with preserving its aging housing stock to provide quality affordable housing for individuals and families, the deterioration of which exacerbates the shortage of affordable housing.
To help HUD address this challenge, Ms. Davis stated that OIG has dedicated considerable resources toward assisting HUD and its partners in improving the delivery of these critical programs. With respect to HUD’s rental assistance programs, OIG will target their oversight of rental assistance programs to address risk reduction and operational improvements to help HUD preserve affordable housing. Ms. Davis also testified that OIG will also focus on oversight of grantee and subrecipient performance and customer experience to help HUD enhance outcomes in these programs. Finally, Ms. Davis discussed how OIG has focused on the Office of Fair Housing and Equal Opportunity (FHEO) and its implementing partners enforcement of civil rights laws, including the effectiveness of FHEO’s complaint intake, case management, and compliance reviews.
To view the full hearing, click here.