Homes Act of 2024

Hozzl · 2024-10-07T14:49:59Z

Explore the details of Senate Bill 5078 Homes Act of 2024 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Housing and Community Development. Stay informed on legislative developments.

10/7/2024, 2:49 PM

Summary of Bill S 5078

The Homes Act of 2024, also known as Bill 118 s 5078, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to address the issue of affordable housing in the United States by providing funding and resources to increase the availability of affordable housing options for low and middle-income individuals and families.

Some key provisions of the Homes Act of 2024 include:

1. Increasing funding for affordable housing programs: The bill allocates additional funding to programs that provide affordable housing options, such as the Low-Income Housing Tax Credit program and the Section 8 Housing Choice Voucher program. 2. Expanding access to affordable housing: The bill aims to increase the availability of affordable housing by incentivizing the development of affordable housing units and promoting mixed-income housing developments. 3. Addressing homelessness: The bill includes provisions to address homelessness by providing funding for homeless shelters, supportive housing programs, and other services for individuals experiencing homelessness. 4. Promoting sustainable and energy-efficient housing: The bill encourages the development of sustainable and energy-efficient housing options by providing funding for green building initiatives and energy-efficient upgrades to existing housing units. Overall, the Homes Act of 2024 seeks to improve access to affordable housing for individuals and families across the United States, with a focus on addressing the needs of low and middle-income individuals and families. The bill is currently being debated in Congress, and its ultimate impact on affordable housing in the US will depend on the outcome of these discussions.

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Current Status of Bill S 5078

Bill S 5078 is currently in the status of Bill Introduced since September 18, 2024. Bill S 5078 was introduced during Congress 118 and was introduced to the Senate on September 18, 2024. Bill S 5078's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of September 18, 2024

Bipartisan Support of Bill S 5078

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 5078

Primary Policy Focus

Housing and Community Development

Alternate Title(s) of Bill S 5078

Homes Act of 2024Homes Act of 2024A bill to establish an independent entity within the Department of Housing and Urban Development to acquire and maintain distressed real estate to stabilize communities and increase the supply of affordable housing, and for other purposes.

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