Affordable Housing and Area Median Income Fairness Act of 2022

Affordable Housing and Area Median Income Fairness Act of 2022

This bill reauthorizes through FY2032 the Community Development Block Grant and other specified programs that support affordable housing.

The bill also requires the Department of Housing and Urban Development (HUD) to assess alternative methods of calculating area median income (i.e., any metric used to refer to the median income level for a given area or jurisdiction for purposes of any program administered by HUD) and the use of alternative metrics in order to make housing more affordable for low-income families in urban areas.

Bill 117 HR 7739, also known as the Affordable Housing and Area Median Income Fairness Act of 2022, aims to address the issue of affordable housing and income disparities in the United States. The bill focuses on ensuring that housing remains affordable for low and moderate-income individuals and families by establishing fair guidelines for determining area median income (AMI).

The bill proposes several key provisions, including:

1. Establishing a standardized method for calculating AMI: The bill calls for a consistent and transparent method for calculating AMI across all regions in the country. This would help ensure that AMI accurately reflects the income levels of residents in a given area, making it easier to determine eligibility for affordable housing programs. 2. Increasing funding for affordable housing programs: The bill allocates additional funding to support affordable housing initiatives, such as the Low-Income Housing Tax Credit program and the Section 8 Housing Choice Voucher program. This increased funding would help expand access to affordable housing for low-income individuals and families. 3. Promoting fair housing practices: The bill includes provisions aimed at combating housing discrimination and promoting fair housing practices. This includes measures to prevent discrimination based on race, gender, disability, or other protected characteristics in housing programs and services. Overall, Bill 117 HR 7739 seeks to improve access to affordable housing for low and moderate-income individuals and families while promoting fairness and equity in housing policies. By addressing income disparities and ensuring that AMI accurately reflects local income levels, the bill aims to create a more inclusive and equitable housing market for all Americans.