Search Results for keywords:"area median income"

Search Results: keywords:"area median income"

S. 3914 — To increase the supply of, and lower rents for, affordable housing and to assess calculations of area median income for purposes of Federal low-income housing assistance, and for other purposes.
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March 12, 2024
Status:Introduced in Senate
Congress:118
Words:1,279
S. 3914 seeks to boost affordable housing supply and reduce rents by providing financial support for housing programs. It authorizes $5 billion annually from 2025 to 2034 for various housing initiatives, specifically targeting areas with high housing costs. Additionally, the...
Simple Explanation
S. 3914 is a new rule meant to help build more affordable homes and make rent cheaper by giving lots of money every year to special housing programs. It also wants to explore better ways of understanding what makes homes expensive in different areas, so everyone can afford to live comfortably.
S. 3940 — To amend the Internal Revenue Code of 1986 to provide for a first-time homebuyer credit, and for other purposes.
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March 14, 2024
Status:Introduced in Senate
Congress:118
Words:3,719
The bill, titled the "First-Time Homebuyer Tax Credit Act of 2024," aims to amend the Internal Revenue Code of 1986 to provide a refundable tax credit for individuals purchasing their first home in the United States. It allows a credit of 10% of the home's purchase price, up to a maximum of...
Simple Explanation
The First-Time Homebuyer Tax Credit Act of 2024 wants to help people buy their first home by giving them some money back as a special reward, up to $15,000. It has some tricky rules about who can get the money, how much money they make, and if they might have to give it back if they sell their house too soon.
H. R. 9356 — To require the Secretary of the Treasury to establish a pilot program to provide grants to eligible grantees to use for the purpose of providing low-interest construction loans to eligible entities.
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August 13, 2024
Status:Introduced in House
Congress:118
Words:945
H.R. 9356, known as the “Lasting Home Affordability Act of 2024,” requires the Secretary of the Treasury to set up a pilot program giving grants for low-interest construction loans. These loans are for eligible state agencies and nonprofit organizations, which will use the funds to create...
Simple Explanation
The bill wants to help build or fix homes that people can afford to buy by giving out special loans to groups that can build these homes. It plans to give $100 million to help make this happen, starting in 2025, so that more families can have a nice place to live.
H. R. 7972 — To increase the supply of, and lower rents for, affordable housing and to assess calculations of area median income for purposes of Federal low-income housing assistance, and for other purposes.
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April 12, 2024
Status:Introduced in House
Congress:118
Words:1,390
H.R. 7972, known as the "Affordable Housing and Area Median Income Fairness Act of 2024," aims to increase the availability of affordable housing and reduce rent costs. The bill proposes the allocation of $5 billion annually from 2025 to 2034 for programs like the Home...
Simple Explanation
The bill wants to make more homes cheaper to rent by giving a lot of money every year to places where it's really expensive to live. It also plans to explore new ways to decide how much money people need to afford homes, so it's fairer in big cities.

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