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Affordable Housing Support: Redevelopment Program and New Rules

This act aims to increase housing availability for low-income individuals, especially in light of the pandemic. It provides funding for acquiring and renovating abandoned properties to convert them into affordable housing. This initiative seeks to combat homelessness and provide stable homes for families in need.
Key points
Allocates $1.5 billion for a program supporting the creation of affordable housing.
Funds will be used to purchase and renovate abandoned buildings, including offices and retail spaces, to convert them into housing.
At least 25% of new housing units will be designated for very low-income families (below 50% of the area median income).
These housing units must remain affordable for at least 30 years.
Preference will be given to projects in high-cost areas, rural areas, and near public transportation.
The program also aims to stimulate local economies and create jobs by hiring local residents and small businesses.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_1501
Sponsor: Rep. Huffman, Jared [D-CA-2]
Process start date: 2021-03-02
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Affordable Housing Redevelopment Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1501.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-02.

What are the main provisions?

Key points include:

  • Allocates $1.5 billion for a program supporting the creation of affordable housing.
  • Funds will be used to purchase and renovate abandoned buildings, including offices and retail spaces, to convert them into housing.
  • At least 25% of new housing units will be designated for very low-income families (below 50% of the area median income).
  • These housing units must remain affordable for at least 30 years.
  • Preference will be given to projects in high-cost areas, rural areas, and near public transportation.
  • The program also aims to stimulate local economies and create jobs by hiring local residents and small businesses.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Huffman, Jared [D-CA-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

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