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Housing Supply Expansion Act
12/15/2023, 3:54 PM
Summary of Bill HR 1053
One of the key provisions of the Housing Supply Expansion Act is the establishment of a grant program to incentivize local governments to streamline the process for approving new housing developments. This program would provide funding to municipalities that implement policies to reduce regulatory barriers and expedite the approval process for new housing projects.
Additionally, the bill includes measures to encourage the construction of affordable housing units, particularly in high-demand areas. This includes provisions for increasing funding for affordable housing programs and offering tax incentives to developers who build affordable housing units. The Housing Supply Expansion Act also aims to promote the development of mixed-income housing projects, which combine affordable housing units with market-rate units. By encouraging the construction of mixed-income developments, the bill seeks to create more diverse and inclusive communities. Overall, the Housing Supply Expansion Act is designed to address the shortage of housing in the United States by incentivizing the construction of new housing units, particularly affordable and mixed-income housing. If passed, this legislation could have a significant impact on increasing access to housing for individuals and families across the country.
Congressional Summary of HR 1053
Housing Supply Expansion Act
This bill modifies the federal prevailing wage rates that apply to the construction of federally assisted housing and requires the Department of Labor to convene a working group to review its process for determining prevailing wage rates.
Specifically, the bill allows Labor to base the prevailing wage rates on rates in other geographic groupings (e.g., metropolitan statistical areas) besides civil subdivisions (e.g., counties) where the work is to be performed. The bill applies this modified methodology to public housing projects under various statutes. Additionally, the bill requires Labor to make no more than one wage rate determination for each project. The wage rate must be based on rates for residential construction (rather than rates for building construction or other categories).
In addition, Labor must establish a working group of federal agencies and industry stakeholders to review and recommend revisions to prevailing wage rates for residential construction and affordable housing projects. The working group must recommend, for example, whether units with more than four floors should be classified as residential for purposes of prevailing wage rates.
