summary
Introduced
06/21/2023
06/21/2023
In Committee
06/21/2023
06/21/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To provide downpayment assistance to first-generation homebuyers 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 establishes the First-Generation Downpayment Assistance Program, which provides grants to states and eligible entities to help first-generation homebuyers, those whose parents do not or did not own a residence, acquire owner-occupied primary residences. The grants can be used for downpayment costs, closing costs, and interest rate reduction on eligible mortgage loans, as well as for subsidies to make shared equity homes affordable. The bill sets income limits for qualified homebuyers, requires housing counseling, and imposes reporting requirements on the use of funds to ensure equitable outcomes. The bill also authorizes $100 billion in appropriations for this program.
Committee Categories
Business and Industry
Sponsors (58)
Maxine Waters (D)*,
Gabe Amo (D),
Becca Balint (D),
Nanette Barragán (D),
Joyce Beatty (D),
Suzanne Bonamici (D),
Salud Carbajal (D),
Emanuel Cleaver (D),
Steve Cohen (D),
Jasmine Crockett (D),
Dwight Evans (D),
Teresa Fernandez (D),
Ruben Gallego (D),
Robert Garcia (D),
Sylvia Garcia (D),
Jimmy Gomez (D),
Al Green (D),
Raúl Grijalva (D),
Jahana Hayes (D),
Steven Horsford (D),
Jonathan Jackson (D),
Sara Jacobs (D),
Hank Johnson (D),
Sydney Kamlager-Dove (D),
Ro Khanna (D),
Greg Landsman (D),
Barbara Lee (D),
Summer Lee (D),
Mike Levin (D),
Ted Lieu (D),
Stephen Lynch (D),
Morgan McGarvey (D),
Jim McGovern (D),
Gregory Meeks (D),
Grace Meng (D),
Gwen Moore (D),
Wiley Nickel (D),
Eleanor Holmes Norton (D),
Alexandria Ocasio-Cortez (D),
Ilhan Omar (D),
Frank Pallone (D),
Nancy Pelosi (D),
Brittany Pettersen (D),
Mark Pocan (D),
Katie Porter (D),
Ayanna Pressley (D),
Delia Ramirez (D),
Jamie Raskin (D),
Pat Ryan (D),
Mary Gay Scanlon (D),
Adam Schiff (D),
Adam Smith (D),
Shri Thanedar (D),
Rashida Tlaib (D),
Jill Tokuda (D),
Ritchie Torres (D),
Juan Vargas (D),
Nikema Williams (D),
Last Action
Referred to the House Committee on Financial Services. (on 06/21/2023)
Bill Topics
Civil Rights, Minority Issues, and Civil Liberties
- ‐ Ethnic Minority and Racial Group Discrimination
Community Development and Housing Issues
- ‐ Fair Housing and Housing Discrimination
- ‐ Housing and Community Development for Low and Middle Income Persons
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/4231/all-info | 06/22/2023 |
| BillText | https://www.congress.gov/118/bills/hr4231/BILLS-118hr4231ih.pdf | 08/02/2023 |
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