Bill Summary
Major Provisions of the Natoinal Affordable Housing Trust Fund Act
The bill establishes a National Affordable Housing Trust Fund for the production of new housing and the preservation or rehabilitation of existing housing that is affordable for low-income people. Goal. The goal of the Trust Fund is to construct, rehabilitate, and preserve 1,500,000 units of housing over the next 10 years. Funding Mechanism. The Trust Fund is funded with monies from the proposed GSE (government-sponsored enterprises) Affordable Housing Fund (H.R. 1427), Federal Housing Administration savings that result from the enactment of the Expanding American Homeownership Act (H.R. 1852), and any other sources of funds subsequently identified. Allocation of Funds. The…
