To increase the mandatory contribution amount of Federal Home Loan Banks to the Affordable Housing Program, and for other purposes.
Sponsored By: Representative Waters, Maxine [D-CA-43]
In Committee
Summary
Would create a $100 million annual floor for the Affordable Housing Program and tie future contributions to the Federal Home Loan Banks' prior-year net income. It would also limit the existing contribution formula to 1995 through 2025 and set a new rule that, beginning in 2026, annual aggregate contributions equal 15% of the Banks' preceding-year net income or a prorated sum needed to reach the $100 million minimum.
Show full summary
- Families and renters: Would make AHP funding more stable and predictable, which can help support affordable housing projects and local rental assistance.
- Federal Home Loan Banks: Would require the Banks as a group to provide either 15% of their prior-year net income or prorated amounts so total contributions are at least $100 million each year.
- AHP administrators and developers: Would give program managers a clear funding floor for planning and could smooth year-to-year grant levels.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
More stable funding for affordable housing
This bill would change Affordable Housing Program funding rules. It would limit an older contribution rule to the years 1995 through 2025. Starting in 2026, the Federal Home Loan Banks would have to contribute 15% of the prior year's net income to the program. If the Banks' 15% totals less than $100 million, they would prorate payments so the combined contribution equals $100 million each year. Low-income renters, homeowners, and affordable housing developers would likely see more predictable program funding.
Sponsors & CoSponsors
Sponsor
Waters, Maxine [D-CA-43]
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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