HELPER Act of 2023

Hozzl · 2024-03-18T15:08:29Z

Explore the details of Senate Bill 1514 HELPER Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/18/2024, 3:08 PM

Summary of Bill S 1514

The HELPER Act of 2023, also known as Bill 118 s 1514, is a piece of legislation introduced in the US Congress aimed at providing support and resources to individuals and families in need. The bill focuses on addressing issues related to housing, employment, and healthcare.

One key aspect of the HELPER Act is its emphasis on affordable housing. The bill proposes the creation of a new federal program that would provide funding for the construction and renovation of affordable housing units. This program aims to increase access to safe and affordable housing for low-income individuals and families.

In addition to housing assistance, the HELPER Act also includes provisions related to employment support. The bill proposes the expansion of job training and placement programs, as well as the implementation of incentives for businesses to hire individuals from underserved communities. These measures are intended to help individuals secure stable employment and improve their financial stability. Furthermore, the HELPER Act addresses healthcare access by proposing the expansion of Medicaid coverage and the creation of a new federal program to provide healthcare services to uninsured and underinsured individuals. The bill also includes provisions to address mental health and substance abuse issues, with a focus on increasing access to treatment and support services. Overall, the HELPER Act of 2023 aims to provide comprehensive support to individuals and families facing economic hardship. By addressing issues related to housing, employment, and healthcare, the bill seeks to improve the well-being of vulnerable populations and promote economic stability and opportunity for all Americans.

Congressional Summary of S 1514

Homes for Every Local Protector, Educator, and Responder Act of 2023 or the HELPER Act of 2023

This bill establishes a program administered by the Department of Housing and Urban Development to provide mortgage assistance to law enforcement officers, elementary and secondary school teachers, firefighters, or other first responders. Specifically, these individuals may be eligible for a first-time mortgage on a primary family residence with no down payment. Instead, the mortgage is subject to a one-time, up-front mortgage insurance premium.

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Current Status of Bill S 1514

Bill S 1514 is currently in the status of Bill Introduced since May 10, 2023. Bill S 1514 was introduced during Congress 118 and was introduced to the Senate on May 10, 2023. Bill S 1514's most recent activity was Committee on Banking, Housing, and Urban Affairs. Hearings held. as of March 12, 2024

Bipartisan Support of Bill S 1514

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 1514

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

First responders and emergency personnelHousing finance and home ownershipLife, casualty, property insurance

Alternate Title(s) of Bill S 1514

HELPER Act of 2023HELPER Act of 2023Homes for Every Local Protector, Educator, and Responder Act of 2023A bill to amend the National Housing Act to establish a mortgage insurance program for first responders, and for other purposes.A bill to amend the National Housing Act to establish a mortgage insurance program for first responders, and for other purposes.

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