Legislative Background
Recent Action on Affordable Housing
The House of Representatives recently acted on legislation that would significantly expand the Federal Government’s involvement in affordable housing construction and maintenance. National Affordable Housing Trust Fund Committee Action. On July 31, the House Financial Services Committee approved, 45 to 23, H.R. 2895, the National Affordable Housing Trust Fund Act, introduced by its chairman, Barney Frank (MA-D). The purpose of the fund would be to help build, refurbish, or maintain 1.5 million affordable housing units over 10 years. Money for the trust fund would come automatically from Federal Housing Administration (FHA) mortgage lending surpluses, as directed by H.R. 1852, approved…
