summary
Introduced
09/30/2021
09/30/2021
In Committee
09/30/2021
09/30/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To provide downpayment assistance to first-generation home- buyers to address multigenerational inequities in access to homeownership and to narrow and ultimately close the racial homeownership gap in the United States, and for other purposes.
AI Summary
This bill, the Downpayment Toward Equity Act of 2021, aims to provide downpayment assistance to first-generation homebuyers to address multigenerational inequities in homeownership and narrow the racial homeownership gap in the United States. It establishes a program within the Department of Housing and Urban Development to provide grants to states and eligible entities, such as minority depository institutions and community development financial institutions, to offer financial assistance to qualified first-generation homebuyers for downpayment, closing costs, and other expenses related to acquiring an eligible home. The bill sets income limits, residency requirements, and other criteria for eligible homebuyers, and includes provisions for housing counseling, reporting, and enforcement of the program's goals.
Committee Categories
Housing and Urban Affairs
Sponsors (7)
Raphael Warnock (D)*,
Sherrod Brown (D),
Tim Kaine (D),
Alex Padilla (D),
Chris Van Hollen (D),
Mark Warner (D),
Elizabeth Warren (D),
Last Action
Senate Banking, Housing, and Urban Affairs Hearing (09:30 6/22/2022 SH-216) (on 06/22/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/2920/all-info |
| BillText | https://www.congress.gov/117/bills/s2920/BILLS-117s2920is.pdf |
| Bill | https://www.congress.gov/117/bills/s2920/BILLS-117s2920is.pdf.pdf |
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