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119-hr-6008119th CongressWALLET

Bring Down Housing Costs Act

Sponsored By: Representative Harder, Josh [D-CA-9]

Introduced

Summary

Bringing down housing costs would create a 21-member Task Force to identify States with rising housing costs, develop best practices to slow price growth, and monitor how well those practices work over time.

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  • Residents in States flagged for rising housing costs would get targeted attention because the Task Force must use HUD's year-over-year median existing home price data to identify those States and recommend fixes. These recommendations would go to Governors for state-level action.
  • Federal housing agencies and Congress would get a steady stream of information. The Task Force must deliver an initial report within one year and then submit reports yearly until it ends, sending them to HUD, the Federal Housing Finance Agency, the USDA Rural Housing Service, and relevant congressional committees.
  • Local groups and industry would have seats at the table. The 21-member panel includes two local community designees and two private-sector experts on zoning and housing finance, meets quarterly after an initial session, and sunsets five years after enactment.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

New task force to lower housing costs

If enacted, HUD would set up a 21-member task force to bring down housing costs. It would include members of Congress, housing agencies, local groups, and private experts. The task force would meet one month after enactment and then every three months. Within one year of its first meeting, it would name states with rising costs (based on HUD data on median existing home prices), share best practices, recommend states use them, and track results in yearly reports to governors and federal housing agencies. The task force would end five years after enactment.

Sponsors & CoSponsors

Sponsor

Harder, Josh [D-CA-9]

CA • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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