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Support for Housing Cooperatives: Affordable Homes and Financial Aid

This act aims to increase housing affordability by supporting limited equity housing cooperatives. Citizens may gain access to more affordable housing options, along with support for maintenance and development. Changes include new loan programs, mortgage insurance, and community development funds.
Key points
Zero-interest loans for organizations developing or converting buildings into limited equity cooperatives, reducing initial housing costs.
Easier access to mortgage insurance for cooperative housing units, potentially simplifying financing.
Grant programs for states to support cooperative community development, including physical improvements and resident programs.
Assistance for weatherization efforts in cooperative housing, potentially lowering energy bills.
Improved access to disaster relief for residents of cooperative housing structures.
Establishment of an office to support the development and sustainment of affordable shared equity housing models.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_7697
Sponsor: Rep. Bowman, Jamaal [D-NY-16]
Process start date: 2022-05-10
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Affordable CO-OP (Collective Opportunities for Owning Property) Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7697.

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 2022-05-10.

What are the main provisions?

Key points include:

  • Zero-interest loans for organizations developing or converting buildings into limited equity cooperatives, reducing initial housing costs.
  • Easier access to mortgage insurance for cooperative housing units, potentially simplifying financing.
  • Grant programs for states to support cooperative community development, including physical improvements and resident programs.
  • Assistance for weatherization efforts in cooperative housing, potentially lowering energy bills.
  • Improved access to disaster relief for residents of cooperative housing structures.
  • Establishment of an office to support the development and sustainment of affordable shared equity housing models.
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. Bowman, Jamaal [D-NY-16].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

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