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Affordable Housing Support and Income Calculation Reforms

This act aims to increase the supply of affordable housing and lower rents, especially in high-cost areas. It authorizes significant funding for housing and community development programs and mandates an assessment of how area median income is calculated to better target housing assistance to low-income families.
Key points
Authorizes $5 billion annually for 10 years for housing partnership programs, focusing on high-cost areas.
Authorizes $5 billion annually for 10 years for community development block grants, also prioritizing high-cost areas.
Mandates an assessment of alternative methods for calculating area median income to make housing more affordable for low-income families.
Requires a public report with recommendations on reforming or eliminating the use of area median income for housing affordability programs.
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Additional Information
Print number: 117_S_4534
Sponsor: Sen. Gillibrand, Kirsten E. [D-NY]
Process start date: 2022-07-14