Housing Finance And Home Ownership
US Congress 116th Congress
ECORA Act of 2019 Enhancing Credit Opportunities in Rural America Act of 2019 [S.1641]
[Agriculture ]
[Real Estate ]
[Finance ]
[Taxes ]
[Small Business ]
[Community Development ]
Modifies the requirements for calculating taxable income to exclude from gross income interest received by a lender from real estate loans secured by agricultural real estate or by a leasehold mortgage (with a status as a lien) on agricultural real estate. Agricultural real estate includes real property that is substantially used for the production of one or more agricultural products. It also includes any single family residence that is (1) the principal residence of its occupant, (2) located in a rural area which is not within a Metropolitan Statistical
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Sponsored by: Sen. Mike Rounds
Read Twice And Referred To The Committee On Finance. on 05/23/2019
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Homebuyer Assistance Act of 2019 [HB-2852]
[Housing ]
[Real Estate ]
[Finance ]
[Consumer Protection ]
Modifies requirements for appraisers of Federal Housing Administration-insured mortgages. Currently, an appraiser must be certified by certain state or national entities. The bill removes the national entities from the list of approved certification entities and allows an appraiser for a mortgage for single-family housing to be state-licensed rather than state-certified to meet requirements. The bill also provides specified educational requirements for appraisers for mortgages for single-family housing.
Sponsored by: Rep. Brad Sherman
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 09/11/2019
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A bill to establish a scorekeeping rule to ensure that increases in guarantee fees of Fannie Mae and Freddie Mac shall not be used to offset provisions that increase the deficit. [S.1463]
[Finance ]
[Housing ]
[Budget and Spending ]
Prohibits increases in Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) guarantee fees from being used in the Senate to determine the budgetary impact of legislation to evaluate budget points of order. Fannie Mae and Freddie Mac purchase mortgages and charge the fees to guarantee the payment of principal and interest. prevents the fee increases from being used to offset provisions that increase the deficit in determining whether a budget point of order applies to legislation.
Sponsored by: Sen. Martha McSally
Read Twice And Referred To The Committee On The Budget. on 05/14/2019
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An original concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2020 and setting forth the appropriate budgetary levels for fiscal years 2021 through 2024. [SCR-12]
[Budget and Spending ]
[Social Security ]
[Healthcare ]
[Housing ]
[Finance ]
[Agriculture ]
This concurrent resolution establishes the congressional budget for the federal government for FY2020 and sets forth budgetary levels for FY2021-FY2024. The resolution recommends levels and amounts for FY2020-FY2024 for federal revenues, new budget authority, budget outlays, deficits, public debt, debt held by the public, and the major functional categories of spending. It also recommends levels and amounts for FY2020-FY2024 in the Senate for Social Security and Postal Service discretionary administrative expenses. The resolution includes reconciliation
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Sponsored by: Sen. Michael B. Enzi
Committee On The Budget. Original Measure Reported To Senate By Senator Enzi. Without Written Report. (text: Cr S2127-2135) on 04/01/2019
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Self-Employed Mortgage Access Act of 2019 [HB-2445]
[Housing ]
[Real Estate ]
[Finance ]
[Small Business ]
[Consumer Protection ]
Allows creditors to use certain alternative standards when evaluating an applicant's ability to pay for purposes of obtaining a home mortgage.
Sponsored by: Rep. David Scott
Committee Consideration And Mark-up Session Held. on 12/10/2019
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Flood Mapping Modernization and Homeowner Empowerment Pilot Program Act of 2019 [HB-2462]
[Disaster Relief ]
[Funding ]
[Grants ]
[Housing ]
[Infrastructure ]
[Military ]
[National Security ]
[Public Safety ]
[Real Estate ]
[Science ]
[Water ]
[Community Development ]
Directs the Federal Emergency Management Agency (FEMA) to carry out a pilot program to make grants to local governments to enhance the mapping of urban flooding and associated property damage and the availability of such mapping data to homeowners, businesses, and localities to enable them to minimize flooding risk. The grants may only be made to local governments in urbanized areas with populations greater than 50,000 or to stormwater management authorities in those localities. FEMA shall give priority to grant applicants in areas that (1) are
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Sponsored by: Rep. Mike Quigley
Referred To The Subcommittee On Economic Development, Public Buildings, And Emergency Management. on 05/02/2019
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Improving Rural Access to Power Act of 2019 [HB-2391]
[Energy ]
[Finance ]
[Small Business ]
[Infrastructure ]
Authorizes Federal Home Loan Banks to purchase certain securities from cooperatives that (1) have certain investment experience involving the Rural Utilities Service, and (2) have received financing from the Federal Financing Bank.
Sponsored by: Rep. David Scott
Introduced In House on 04/29/2019
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Fannie Mae and Freddie Mac Lobbying Regulation Act of 2019 [HB-2380]
[Finance ]
[Housing ]
[Real Estate ]
[Ethics ]
Prohibits the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) from engaging in lobbying activities while under conservatorship or receivership.
Sponsored by: Rep. Nydia M. Velazquez
Referred To The House Committee On Financial Services. on 04/29/2019
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Hardest Hit Housing Act of 2019 [HB-2295]
[Housing ]
[Finance ]
[Real Estate ]
[Budget and Spending ]
[Funding ]
[Grants ]
[Law Enforcement ]
[Public Safety ]
Authorizes through FY2023 additional funds for various housing programs, including grants to large public housing agencies for specified capital activities, grants for foreclosure mitigation counseling and legal assistance, and incremental vouchers for rental assistance for large public housing agencies.
Sponsored by: Rep. Yvette D. Clarke
Introduced In House on 04/12/2019
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A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes. [S.1162]
[Taxes ]
[Budget and Spending ]
[Student Loans ]
[Medicare and Medicaid ]
[Healthcare ]
[Veterans ]
[Disabilities ]
[Military ]
Makes permanent several tax provisions that were enacted in 2017 and are scheduled to expire at the end of 2025. The bill makes permanent provisions that reduce individual tax rates, modify the taxation of the unearned income of children, allow a deduction for qualified business income of pass-through entities, increase the standard deduction, increase and modify the child tax credit, increase the limitation for certain charitable contributions, allow additional contributions to ABLE accounts (tax-favored accounts designed to enable individuals
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Sponsored by: Sen. Martha McSally
Read Twice And Referred To The Committee On Finance. on 04/11/2019
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Respect the Caps Act [S.1171]
[Finance ]
[Housing ]
Prohibits the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) from transferring or delegating the duties of the chief executive officer to any other position. The bill also provides for the removal of the director of the Federal Housing Finance Agency if the director approves executive compensation packages in excess of statutory limits.
Sponsored by: Sen. Elizabeth Warren
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 04/11/2019
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Disaster Tax Relief Act of 2019 [HB-2284]
[Taxes ]
[Disaster Relief ]
[Small Business ]
[Retirement ]
Allows various tax credits, tax deductions, and modifications to existing rules for individuals and businesses affected by federally declared disasters that occurred after December 31, 2018, and before April 15, 2019. With respect to individuals and businesses in the affected areas, the bill waives the 10% additional tax on certain early distributions from retirement plans, permits individuals to recontribute funds to retirement plans if the funds were distributed for a home purchase that was cancelled on account of a disaster, increases the limit
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Sponsored by: Rep. David Loebsack
Introduced In House on 04/10/2019
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Disaster Tax Relief Act of 2019 [S.1133]
[Taxes ]
[Disaster Relief ]
[Small Business ]
[Retirement ]
Allows various tax credits, tax deductions, and modifications to existing rules for individuals and businesses affected by federally declared disasters that occurred after December 31, 2018, and before April 15, 2019. With respect to individuals and businesses in the affected areas, the bill waives the 10% additional tax on certain early distributions from retirement plans, permits individuals to recontribute funds to retirement plans if the funds were distributed for a home purchase that was cancelled on account of a disaster, increases the limit
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Sponsored by: Sen. Chuck Grassley
Read Twice And Referred To The Committee On Finance. on 04/10/2019
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Housing Financial Literacy Act of 2019 [HB-2162]
[Housing ]
[Finance ]
[Consumer Protection ]
[Real Estate ]
[Budget and Spending ]
Modifies the discount given by the Federal Housing Administration (FHA) on single-family mortgage-insurance premium payments for first-time homebuyers who complete a financial-management counseling program. Under current law, the maximum premium amount for such homebuyers is 2.75% of the original insured principal obligation of the mortgage (compared to 3% for other homebuyers). The bill instead requires that the premium amount for such homebuyers be 25 basis points (0.25% of the original insured principal obligation of mortgage) lower than the
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Sponsored by: Rep. David Scott
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 07/10/2019
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Homeless Veterans Prevention Act of 2019 [S.980]
[Housing ]
[Veterans ]
[Human Services ]
[Poverty ]
A bill to amend title 38, United States Code, to improve the provision of services for homeless veterans, and for other purposes.
Sponsored by: Sen. Martha McSally
Committee On Veterans' Affairs. Hearings Held. on 05/22/2019
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ACCESS BROADBAND Act Advancing Critical Connectivity Expands Service, Small Business Resources, Opportunities, Access, and Data Based on Assessed Need and Demand Act [S.1046]
[Telecommunications ]
[Technology and Innovation ]
[Small Business ]
[Community Development ]
[Funding ]
[Grants ]
[Economic Development ]
Requires the Department of Commerce to establish the Office of Internet Connectivity and Growth within the National Telecommunications and Information Administration (NTIA). The office shall connect with communities that need access to high-speed internet and hold regional workshops to share best practices and effective strategies for promoting broadband access and adoption. The bill also requires the office to (1) develop targeted broadband training and presentations for various demographic communities through media; (2) develop and distribute
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Sponsored by: Sen. Marsha Blackburn
Committee On Commerce, Science, And Transportation. Reported By Senator Wicker With An Amendment In The Nature Of A Substitute. With Written Report No. 116-274. on 10/01/2020
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Equity for Disaster Victims Act of 2019 [HB-2018]
[Disaster Relief ]
[Small Business ]
[Community Development ]
[Funding ]
[Grants ]
Assists victims of Superstorm Sandy and other disasters by allowing recipients of specified disaster-assistance loans from the Small Business Administration to repay the loans with disaster-recovery grant funds received under the Community Development Block Grant Program.
Sponsored by: Rep. Christopher H. Smith
Referred To The Subcommittee On Economic Development, Public Buildings, And Emergency Management. on 04/02/2019
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Mortgage Forgiveness Tax Relief Act of 2019 [HB-1977]
[Housing ]
[Real Estate ]
[Taxes ]
Modifies the requirements for calculating taxable income to extend through 2019 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.
Sponsored by: Rep. Joe Courtney
Introduced In House on 03/28/2019
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Protecting Affordable Mortgages for Veterans Act of 2019 [HB-1988]
[Housing ]
[Veterans ]
[Finance ]
[Real Estate ]
[Insurance ]
Revises loan seasoning requirements related to a refinanced Department of Veterans Affairs (VA) housing loan. Under current law, the VA is prohibited from guaranteeing a refinanced home loan until the date that is the later of (1) the date on which the sixth monthly payment is made, or (2) the date that is 210 days after the first payment is made. modifies this date to (1) when the borrower has made six consecutive monthly payments, or (2) 210 days after the first payment is due.
Sponsored by: Rep. David Scott
Received In The Senate. Read Twice. Placed On Senate Legislative Calendar Under General Orders. Calendar No. 143. on 07/10/2019
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Enhancing Credit Opportunities in Rural America Act of 2019 [HB-1872]
[Agriculture ]
[Real Estate ]
[Finance ]
[Taxes ]
[Small Business ]
[Community Development ]
Modifies the requirements for calculating taxable income to exclude from gross income interest received by a lender from real estate loans secured by agricultural real estate or by a leasehold mortgage (with a status as a lien) on agricultural real estate. Agricultural real estate includes real property that is substantially used for the production of one or more agricultural products. It also includes any single family residence that is (1) the principal residence of its occupant, (2) located in a rural area which is not within a Metropolitan Statistical
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Sponsored by: Rep. Robert J. Wittman
Introduced In House on 03/26/2019