3.0.0 2851 2023-03-08T19:58:39Z 2023-03-08T19:58:39Z House HR 2021-04-26 117 [Congressional Record Volume 167, Number 71 (Monday, April 26, 2021)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. OMAR:H.R. 2851.Congress has the power to enact this legislation pursuantto the following:Article I, Section I[Page H2115]]]> hsba00 Financial Services Committee House Standing Referred to 2021-04-26T16:02:30Z 2021-04-26 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2021-04-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2021-04-26 Introduced in House IntroReferral 1000 9 Library of Congress O000173 Rep. Omar, Ilhan [D-MN-5] Ilhan Omar D MN 5 N M000087 Rep. Maloney, Carolyn B. [D-NY-12] CAROLYN MALONEY D NY B. 12 2021-04-26 True B001278 Rep. Bonamici, Suzanne [D-OR-1] Suzanne Bonamici D OR 1 2021-06-04 False T000193 Rep. Thompson, Bennie G. [D-MS-2] BENNIE THOMPSON D MS 2 2021-06-04 False N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2021-06-04 False G000586 Rep. Garcia, Jesus G. "Chuy" [D-IL-4] Jesus Garcia D IL G. 4 2021-06-04 False J000306 Rep. Jones, Mondaire [D-NY-17] Mondaire Jones D NY 17 2021-06-04 False S001165 Rep. Sires, Albio [D-NJ-8] Albio Sires D NJ 8 2021-06-04 False H001081 Rep. Hayes, Jahana [D-CT-5] Jahana Hayes D CT 5 2021-06-11 False B001223 Rep. Bowman, Jamaal [D-NY-16] Jamaal Bowman D NY 16 2022-04-21 False Housing and Community Development Congressional oversight Cooperative and condominium housing Housing and community development funding Housing discrimination Housing finance and home ownership Housing supply and affordability Housing and Community Development 00 2021-04-26 Introduced in House 2021-11-23T18:15:00Z Affordable Housing Preservation Act of 2021

This bill directs the Department of Housing and Urban Development (HUD) to implement a demonstration program for the establishment or preservation of limited- or zero-equity resident-controlled housing. Limited- or zero-equity resident-controlled housing (e.g., a housing cooperative) restricts the initial and resale price of shares of stock or membership interests in a residence so that the shares or interests remain affordable to families of certain incomes.

Specifically, HUD may assist nonprofit organizations to establish or preserve such housing through providing (1) mortgage insurance; and (2) grants for predevelopment costs, monitoring fees, technical assistance, gap funding, and intermediary financing.

Housing receiving such assistance must be governed by a board of directors elected by members of a limited- or zero-equity resident-controlled housing corporation with voting structured equitably among all members.

A limited- or zero-equity resident-controlled housing corporation may sell corporate shares in such housing to an eligible household for a purchase price that ensures dwelling units in the housing will remain affordable for at least 30 years to households earning less than a certain income.

]]> Affordable Housing Preservation Act of 2021 Display Title Affordable Housing Preservation Act of 2021 Official Title as Introduced To require the Secretary of Housing and Urban Development to carry out a demonstration program to evaluate the effectiveness of the Department assisting nonprofit organizations to develop, acquire, rehabilitate, convert, or preserve affordable housing that is governed by the residents of such housing, and for other purposes. Introduced in House IH Short Title(s) as Introduced Affordable Housing Preservation Act of 2021 Introduced in House IH Introduced in House 2021-04-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr2851ih/xml/BILLS-117hr2851ih.xml 2021-04-26 Referred to the House Committee on Financial Services. 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.