119th Congress
S. 1527
Housing Affordability Act
- Introduced
- In committee
- Passed Senate
- Passed House
- To President
- Became law
- Sponsor
- Ruben Gallego(D-AZ)
- Introduced
- Apr 30, 2025
- Policy area
- Finance and Financial Sector
- Committees
- Senate Committee on Banking, Housing, and Urban Affairs
- Official text
- Introduced in Senate · Congress.gov page
Cosponsors (2)
Original cosponsors (1)
- David McCormick (R-PA)
Added later (1)
- Kevin Cramer (R-ND) · May 1, 2025
Summary
Summary by the Congressional Research Service· describes the “Introduced in Senate” version
Housing Affordability Act
This bill increases the Federal Housing Administration’s (FHA's) multifamily housing loan limits for mortgage insurance and requires the use of a more specific inflation index for these limits.
Specifically, the bill increases the loan limits to qualify for FHA mortgage insurance for rental housing, cooperative housing, rehabilitation and neighborhood conservation housing, housing for moderate income and displaced families, housing for elderly persons, and condominiums, and it requires these limits to be indexed to the Price Deflator Index of Multifamily Residential Units Under Construction released by the Bureau of the Census. Currently, these limits are indexed to the Consumer Price Index for All Urban Consumers.
Roll-call votes
No recorded votes on this bill.
Actions
- Apr 30, 2025 · Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. - Apr 30, 2025
Introduced in Senate