US HR6368

Bill

US HR6368

State Housing Relief Act of 2020

Introduced
03/23/2020

In Committee
03/23/2020

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To establish a Housing Assistance Fund. This bill provides funds for assistance to homeowners to prevent mortgage defaults, foreclosures, and displacements of individuals and families experiencing financial hardship after January 21, 2020. The Department of the Treasury must disburse the funds to state housing finance agencies for the provision of such assistance.

AI Summary

This bill establishes a Housing Assistance Fund at the Department of the Treasury to provide funds to state housing finance agencies for the purpose of preventing homeowner mortgage defaults, foreclosures, and displacements of individuals and families experiencing financial hardship after January 21, 2020. The Secretary of the Treasury will allocate the funds to states based on the number of unemployment claims within each state. The bill requires the initial disbursement of at least 12% of the funds within 120 days and the disbursement of all funds within 180 days. The funds can be used for mortgage payment assistance, utility payment assistance, and other programs to prevent foreclosure, eviction, and loss of housing. The bill also allows state housing finance agencies to reallocate certain existing funds to supplement the Housing Assistance Fund. Any unused funds by December 31, 2030, will be reallocated to the Housing Trust Fund and the Capital Magnet Fund.

Committee Categories

Business and Industry

Sponsors (3)

David Scott (D)*, Tony Cárdenas (D), Maxine Waters (D),

Last Action

Referred to the House Committee on Financial Services. (on 03/23/2020)

Official Document

https://www.congress.gov/bill/116th-congress/house-bill/6368/all-info

(2 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/116th-congress/house-bill/6368/all-info
BillText	https://www.congress.gov/116/bills/hr6368/BILLS-116hr6368ih.pdf
Bill	https://www.congress.gov/116/bills/hr6368/BILLS-116hr6368ih.pdf.pdf

Bill	Bill Name	Last Action	Type
HR6321	Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act	Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Labor, Small Business, the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related
S3620	A bill to establish a Housing Assistance Fund at the Department of the Treasury.	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S2291-2292)	Related

Bill > HR6368

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (3)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary