3.0.0 2935 2023-01-11T13:32:54Z 2023-01-11T13:32:54Z Senate S 2016-05-17 114 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2016-05-17T15:09:19Z Housing Opportunity Through Modernization Act of 2016 114 3083 S 2016-09-22 Committee on Banking, Housing, and Urban Affairs Senate Subcommittee on Housing, Transportation, and Community Development. Hearings held. With printed Hearing: S.Hrg. 114-511. Related bill CRS 2016-05-17 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2016-05-17 Introduced in Senate IntroReferral 10000 9 Library of Congress F000444 Sen. Flake, Jeff [R-AZ] JEFF FLAKE R AZ N C000542 Sen. Coats, Daniel [R-IN] DANIEL COATS R IN RAY 2016-05-17 True Housing and Community Development Bank accounts, deposits, capital Housing and community development funding Low- and moderate-income housing Public housing Housing and Community Development 00 2016-05-17 Introduced in Senate 2016-05-19T21:09:54Z End Housing Subsidies for the Rich Act of 2016

This bill amends the United States Housing Act of 1937 to revise eligibility requirements for assisted housing.

If a public housing agency (PHA) determines that a tenant's income is greater than 120% of the area median income for two consecutive years, the PHA must terminate the family's tenancy within six months.

Such a family may, however, continue to occupy the dwelling unit month-to-month if:

  • the PHA charges the family the fair market rent, and
  • there are no eligible families applying for housing assistance from the PHA for that month and the agency provides at least a 30-day public notice of the availability of such assistance.

A PHA may not rent a dwelling unit to or assist families with net family assets exceeding $100,000 annually (adjusted for inflation) or an ownership interest in property that is suitable for occupancy. This restriction does not apply to victims of domestic violence, individuals using housing assistance for homeownership opportunities, or a family that is offering a property for sale.

PHAs must require applicants to authorize financial institutions to disclose records necessary to determine eligibility for benefits.

]]> End Housing Subsidies for the Rich Act of 2016 Display Title End Housing Subsidies for the Rich Act of 2016 Official Title as Introduced A bill to limit the availability of public housing for over-income families. Introduced in Senate IS Short Titles as Introduced End Housing Subsidies for the Rich Act of 2016 Introduced in Senate 2016-05-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s2935is/xml/BILLS-114s2935is.xml 2016-05-17 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.