H.R.4984: Affordable Housing and Area Median Income Fairness Act of 2019

Overview

The Affordable Housing and Area Median Income Fairness Act (H.R. 4984) would have the Department of Housing and Urban Development (HUD) adjust its current statistical basis for affordable housing income caps and rent prices for government programs ranging from the Housing Trust Fund to the Low Income Housing Tax Credit. The Area Median Income (AMI) formula has not kept pace with the cost of housing in many parts of the country, particularly urban areas. This bill would allow jurisdictions to decide whether or not to apply HUD’s High Housing Cost Adjustment, thus empowering cities to lower AMI levels considerably for purposes of determining rents and direct HUD to assess alternative methods to calculate AMI. Additionally, the bill would allocate $25 billion over the next decade to the Housing Trust Fund, HOME Investment Partnerships Program, and Community Development Block Grant Entitlement Program to help finance new affordable housing for working individuals and families.

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Our Stance

Support

Priority

Medium

Bill Number

H.R.4984

Date Introduced

November 05, 2019

Committee

House Ways and Means Committee

Bill Status

Introduced or Prefiled