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Affordable Housing Boost: Removing Bond Limits for Low-Income Projects.

This law aims to increase the supply of affordable rental housing by making it easier to finance construction and preservation projects. It temporarily removes federal limits (volume caps) on tax-exempt bonds used to fund developments where 100% of units are designated for low-income households. This change, effective from 2025 through 2034, is intended to accelerate investment and production of affordable rental units.
Key points
Financing Relief: Bonds used to finance the development or preservation of housing exclusively for low-income households are exempted from state volume caps.
Goal: To increase the availability of rental units where all housing is affordable for the lowest-income families.
Timeline: The exemption applies to bonds issued between calendar years 2025 and 2034.
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Expired
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Additional Information
Print number: 118_HR_9856
Sponsor: Rep. Torres, Ritchie [D-NY-15]
Process start date: 2024-09-25
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

ASAP Housing Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9856.

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 2024-09-25.

What are the main provisions?

Key points include:

  • Financing Relief: Bonds used to finance the development or preservation of housing exclusively for low-income households are exempted from state volume caps.
  • Goal: To increase the availability of rental units where all housing is affordable for the lowest-income families.
  • Timeline: The exemption applies to bonds issued between calendar years 2025 and 2034.
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. Torres, Ritchie [D-NY-15].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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