Affordable Housing Boost: Funding and Income Calculation Assessment for High-Cost Areas
This bill aims to increase housing supply and lower rents by authorizing billions of dollars for housing programs specifically in areas with high housing costs. It also mandates an assessment of alternative methods for calculating Area Median Income for federal low-income housing assistance purposes. The goal is to make housing more accessible and affordable.
Key points
Authorizes a total of $15 billion annually (for fiscal years 2025 through 2034) for three housing programs, strictly limited to areas with a high housing cost adjustment.
Requires an assessment and report on alternative methods for calculating Area Median Income (AMI) to better support families in urban areas.
Status:
Expired
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