Every May, Local, State and National Realtor representatives travel to DC and visit the Hill to meet with members of Congress. Their focus in this session is housing affordability, improving access to homeownership, increasing housing inventory, and encouraging adaptive reuse of commercial properties.
Realtors asked their representatives to co-sponsor:
The Housing Supply & Affordability Act, which creates local housing policy grant programs for cities, states, tribes & regional associations to enact pro-housing policies. SB S902 is sponsored by Sen. Amy Klobuchar (D-MN), Re/Max of Boulder Portman (R-OH) and Tim Kaine (D-VA) . HR2126 sponsored b Rep Lisa Blunt Rochester (D-DE), Jaime Herrera Beutler (R-WA) and Joyce Beatty (D-OH)
Neighborhood Homes Investment Act (NHIA), which would offer tax credits to attract private investment for building and rehabilitating owner-occupied homes, creating a pathway to neighborhood stability. The NHIA would expand homeownership opportunities and provide a powerful incentive to build and rehab 500,000 homes for low and moderate income families over the next decade. The NHIA is intended to fill the gap in areas where it is often more expensive to develop or rehab that appraisal values will support. Senate bill S98 is sponsored by Sen. Ben Cardin (D-MD), Re/Max of Boulder Portman (R-OH), Chrhis Coons (D-DE), Todd Young (R-IN), Sherrod Brown (D-OH) and Tim Scott (R-SC). HB 2143 sponsored by Rep Brian Higgins (D-NY).
The Greater Revitalization of Shopping Centers Act, which creates a grant within the Section 108 Loan Guarantee Programs to incentivise public and private investment in abandoned and under-utilitzed shopping malls. The Section 108 Program provides communities with a source of low-cost, long -term financing for economic and community development projects.This legislation would provide an additional grant of up to $5 million to communities with qualifying shopping centers to repurpose them for a range of uses, including the development of affordable housing. HB 5041 is sponsored by Reps Carolyn Bourdeaux (D-GA), Emanuel Cleaver (D-MO) and Cynthia Axne (D-IA).
The Revitalizing Downtown Acts, which creates a Qualified Office Conversion Tax Credit to convert unused office buildings into residential, commercial, and mixed-use properties. SB Sponsored by Sen. Debbie Stabenow (D-MI) and Gary Peters (D-MI) IHR 4759 sponsored by Jimmy Gomez (D-CA), Dan Kildee (D-MI) and John B Larson (D-CT)
The Housing Fairness Act, which would reauthorize and increase funding for HUD fair housing testing and enforcement programs. SB 769 is sponsored by Catherine Cortez Masto (D-NV) . HR 68 sponsored by Rep. Al Green (D-TX)