Bill > HR2768

This bill, the American Housing and Economic Mobility Act of 2021, proposes several measures to make housing more affordable and address the legacy of housing discrimination and government negligence. Key provisions include establishing a grant program for local governments to reform land use restrictions and remove barriers to affordable housing, increasing funding for affordable housing programs like the Housing Trust Fund and Capital Magnet Fund, placing conditions on the sale of real estate-owned properties and non-performing loans to prioritize owner-occupancy and affordable rental housing, creating a down payment assistance program for communities formerly segregated by law, strengthening the Community Reinvestment Act to ensure regulated financial institutions meet the credit and financial needs of local communities, and expanding fair housing protections. The bill also includes estate tax reforms like increasing tax rates and reducing the basic exclusion amount.