Bill > S1368

This bill: Establishes a program to provide grants to state and local governments to reform land use restrictions and remove barriers to building affordable housing. Significantly increases funding for the Housing Trust Fund, Capital Magnet Fund, Public Housing Capital Fund, Indian Housing Block Grant Program, and Native Hawaiian Housing Block Grant Program. Creates a new "Middle Class Housing Emergency Fund" to fund the construction or acquisition of rental units and measures to prevent tenant displacement. Imposes new requirements on the sale of real estate-owned properties and non-performing loans insured by the Federal Housing Administration, Fannie Mae, and Freddie Mac to prioritize sales to owner-occupants and affordable housing providers. Establishes a down payment assistance program and a formula grant program to support communities formerly segregated by law and communities with an "appraisal gap." Strengthens the Community Reinvestment Act to require financial institutions to better meet the credit and financial needs of low- and moderate-income communities. Expands fair housing protections and requires changes to improve access to higher-opportunity neighborhoods for housing voucher recipients. Also includes estate tax reforms.