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A bill to increase the supply of affordable homes and expand housing options.
4/5/2024, 3:08 PM
Summary of Bill S 3928
Bill 118 s 3928, also known as the "Affordable Housing Expansion Act," aims to address the shortage of affordable housing in the United States by increasing the supply of affordable homes and expanding housing options for individuals and families.
The bill proposes several key measures to achieve this goal. Firstly, it calls for the creation of a new federal grant program that would provide funding to states and local governments to develop and implement affordable housing initiatives. This program would prioritize projects that increase the availability of affordable rental units and promote mixed-income housing developments.
Additionally, the bill seeks to streamline the process for obtaining federal housing assistance by simplifying eligibility requirements and reducing bureaucratic barriers. It also includes provisions to incentivize the construction of affordable housing units through tax credits and other financial incentives for developers. Furthermore, the bill aims to address the issue of housing discrimination by strengthening fair housing laws and increasing enforcement mechanisms to ensure that all individuals have equal access to affordable housing options. Overall, the Affordable Housing Expansion Act represents a comprehensive approach to addressing the affordable housing crisis in the United States by increasing the supply of affordable homes and expanding housing options for individuals and families in need.
The bill proposes several key measures to achieve this goal. Firstly, it calls for the creation of a new federal grant program that would provide funding to states and local governments to develop and implement affordable housing initiatives. This program would prioritize projects that increase the availability of affordable rental units and promote mixed-income housing developments.
Additionally, the bill seeks to streamline the process for obtaining federal housing assistance by simplifying eligibility requirements and reducing bureaucratic barriers. It also includes provisions to incentivize the construction of affordable housing units through tax credits and other financial incentives for developers. Furthermore, the bill aims to address the issue of housing discrimination by strengthening fair housing laws and increasing enforcement mechanisms to ensure that all individuals have equal access to affordable housing options. Overall, the Affordable Housing Expansion Act represents a comprehensive approach to addressing the affordable housing crisis in the United States by increasing the supply of affordable homes and expanding housing options for individuals and families in need.
Read the Full Bill
Current Status of Bill S 3928
Bill S 3928 is currently in the status of Bill Introduced since March 12, 2024. Bill S 3928 was introduced during Congress 118 and was introduced to the Senate on March 12, 2024. Bill S 3928's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of March 12, 2024
Bipartisan Support of Bill S 3928
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 3928
Primary Policy Focus
Housing and Community DevelopmentAlternate Title(s) of Bill S 3928
A bill to increase the supply of affordable homes and expand housing options.
Housing Supply Fund Act of 2024
Housing Supply Fund Act of 2024
A bill to increase the supply of affordable homes and expand housing options.
Comments
Sponsors and Cosponsors of S 3928
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